0001628280-22-003537 | 10-K | XBRL Viewer

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CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 747,861	$ 95,382
Marketable securities	575,679	142,733
Accounts receivable, net	51,756	34,270
Deferred contract acquisition costs	14,640	9,167
Prepaid expenses and other current assets	31,440	30,852
Total current assets	1,421,376	312,404
Property and equipment, net	21,478	20,784
Deferred contract acquisition costs, noncurrent	15,007	9,106
Intangible assets, net	1,894	6,223
Goodwill	6,181	6,181
Deferred tax assets	6,284	4,393
Other assets	10,592	8,333
Total assets	1,482,812	367,424
Current liabilities:
Accounts payable	6,321	3,710
Accrued liabilities	55,829	35,608
Deferred revenue	160,173	104,184
Income tax payable	1,023	8,740
Total current liabilities	223,346	152,242
Other liabilities	21,427	16,827
Total liabilities	244,773	169,069
Commitments and contingencies (Note 9)
Redeemable convertible preferred stock, $0.0001 par value; zero and 154,055,430 shares authorized as of December 31, 2021 and 2020, respectively; zero and 153,937,730 shares issued and outstanding as of December 31, 2021 and 2020; aggregate liquidation preference of zero and $326,559 as of December 31, 2021 and 2020, respectively	0	2,895,096
Stockholders' equity (deficit):
Preferred stock, $0.00001 par value per share; 10,000,000 and zero shares authorized as of December 31, 2021 and 2020, respectively; zero shares issued and outstanding as of December 31, 2021 and 2020	0	0
Additional paid-in capital	4,509,724	0
Accumulated other comprehensive (loss) income	(747)	411
Accumulated deficit	(3,270,941)	(2,697,153)
Total stockholders' equity (deficit)	1,238,039	(2,696,741)
Total liabilities, redeemable convertible preferred stock and stockholders' equity (deficit)	1,482,812	367,424
Common Stock
Stockholders' equity (deficit):
Common stock, value	0	1
Class A Common Stock
Stockholders' equity (deficit):
Common stock, value	0	0
Class B Common Stock
Stockholders' equity (deficit):
Common stock, value	$ 3	$ 0

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Redeemable convertible preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Redeemable convertible preferred stock, authorized (in shares)	0	154,055,430
Redeemable convertible preferred stock, issued (in shares)	0	153,937,730
Redeemable convertible preferred stock, outstanding (in shares)	0	153,937,730
Liquidation Preference	$ 0	$ 326,559,000
Preferred stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Preferred stock, authorized (in shares)	10,000,000	0
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Common Stock
Common stock, authorized (in shares)	0	285,000,000
Common stock, issued (in shares)	0	77,619,030
Common stock, outstanding (in shares)	0	77,619,030
Class A Common Stock
Common stock, authorized (in shares)	1,000,000,000	0
Common stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Common stock, issued (in shares)	50,554,821	0
Common stock, outstanding (in shares)	50,554,821	0
Class B Common Stock
Common stock, authorized (in shares)	350,000,000	0
Common stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Common stock, issued (in shares)	222,739,562	0
Common stock, outstanding (in shares)	222,739,562	0

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Statement [Abstract]
Revenue	$ 371,022	$ 249,659	$ 172,377
Cost of revenue	78,030	52,492	36,462
Gross profit	292,992	197,167	135,915
Operating expense:
Research and development	120,407	69,210	38,559
Sales and marketing	260,345	133,277	111,115
General and administrative	117,022	50,792	15,911
Total operating expenses	497,774	253,279	165,585
Loss from operations	(204,782)	(56,112)	(29,670)
Interest and other income, net	23,303	2,833	2,180
Loss before income taxes	(181,479)	(53,279)	(27,490)
Provision for income taxes	10,516	4,015	3,635
Net loss	(191,995)	(57,294)	(31,125)
Accretion of redeemable convertible preferred stock	(2,646,662)	(1,560,524)	(553,339)
Deemed dividend distribution	0	0	(40,071)
Net loss attributable to common stockholders - basic and diluted
Net loss attributable to common stockholders - basic	(2,838,657)	(1,617,818)	(624,535)
Net loss attributable to common stockholders - diluted	$ (2,838,657)	$ (1,617,818)	$ (624,535)
Net loss attributable to common stockholders - basic and diluted
Basic (in dollars per share)	$ (21.73)	$ (21.03)	$ (8.21)
Diluted (in dollars per share)	$ (21.73)	$ (21.03)	$ (8.21)
Weighted average shares used in computing net loss per share attributable to common stockholders - basic and diluted
Weighted-average shares used in computing net loss per share attributable to common stockholders - diluted (in shares)	130,652	76,945	76,029
Weighted-average shares used in computing net loss per share attributable to common stockholders - basic (in shares)	130,652	76,945	76,029

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Net loss	$ (191,995)	$ (57,294)	$ (31,125)
Other comprehensive loss:
Adjustment for the adoption of ASU 2016-01	0	0	(981)
Unrealized (loss) gain on marketable securities	(1,158)	272	(21)
Comprehensive loss	$ (193,153)	$ (57,022)	$ (32,127)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

CONSOLIDATED STATEMENTS OF REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY (DEFICIT) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income	Accumulated Other Comprehensive Income Adjustment for the adoption of ASU 2016-01	Accumulated Deficit	Accumulated Deficit Adjustment for the adoption of ASU 2016-01
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)		74,263,000
Beginning balance (in shares) at Dec. 31, 2018	142,662,000
Beginning balance at Dec. 31, 2018	$ 631,413
Increase (Decrease) in Temporary Equity [Roll Forward]
Issuance of Series H redeemable convertible, preferred stock, net issuance costs of $181 (in shares)	11,276,000
Issuance of Series H redeemable convertible, preferred stock, net issuance costs of $181	$ 149,820
Sale of redeemable convertible preferred stock (Note 11) (in shares)	7,517,000
Sale of redeemable convertible preferred stock (Note 11)	$ 59,929
Repurchase of redeemable convertible preferred stock (Note 11) (in shares)	(7,517,000)
Repurchase of redeemable convertible preferred stock (Note 11)	$ (59,929)
Accretion of redeemable convertible preferred	$ 553,339
Ending balance (in shares) at Dec. 31, 2019	153,938,000
Ending balance at Dec. 31, 2019	$ 1,334,572
Beginning balance at Dec. 31, 2018	(539,198)	$ 1	$ 0	$ 1,141	$ (981)	$ (540,340)	$ 981
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Deemed contribution (Note 11)	40,071					40,071
Accretion of redeemable convertible preferred stock	(553,339)		(962)			(552,377)
Deemed dividend distribution	(40,071)					(40,071)
Issuance of common stock upon exercise of stock options (in shares)		2,558,000
Issuance of common stock upon exercise of stock options	689		689
Stock-based compensation	273		273
Unrealized (loss) gain on marketable securities	(21)			(21)
Net loss	(31,125)					(31,125)
Ending balance (in shares) at Dec. 31, 2019		76,821,000
Ending balance at Dec. 31, 2019	$ (1,122,721)	$ 1	0	139		(1,122,861)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible Enumeration]	us-gaap:AccountingStandardsUpdate201802Member
Beginning balance (in shares)		76,821,000
Accretion of redeemable convertible preferred	$ 1,560,524
Ending balance (in shares) at Dec. 31, 2020	153,937,730
Ending balance at Dec. 31, 2020	$ 2,895,096
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accretion of redeemable convertible preferred stock	(1,560,524)		(43,526)			(1,516,998)
Deemed dividend distribution	0
Issuance of common stock upon exercise of stock options (in shares)		798,000
Issuance of common stock upon exercise of stock options	246		246
Stock-based compensation	43,280		43,280
Unrealized (loss) gain on marketable securities	272			272
Net loss	(57,294)					(57,294)
Ending balance (in shares) at Dec. 31, 2020		77,619,000
Ending balance at Dec. 31, 2020	(2,696,741)	$ 1	0	411		(2,697,153)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)		77,619,000
Accretion of redeemable convertible preferred	$ 2,646,662
Conversion of convertible securities (in shares)	(153,938,000)
Conversion of redeemable convertible preferred stock into common stock upon initial public offering	$ (5,541,758)
Ending balance (in shares) at Dec. 31, 2021	0
Ending balance at Dec. 31, 2021	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accretion of redeemable convertible preferred stock	(2,646,662)		(2,264,869)			(381,793)
Deemed dividend distribution	0
Conversion of redeemable convertible preferred stock into common stock upon initial public offering (in shares)		153,938,000
Conversion of redeemable convertible preferred stock into common stock upon initial public offering	5,541,758	$ 2	5,541,756
Issuance of common stock upon initial public offering, net of underwriting discount and offering expenses (in shares)		31,350,000
Issuance of common stock upon initial public offering, net of underwriting discount and offering expenses	$ 1,062,058		1,062,058
Issuance of common stock upon exercise of stock options (in shares)	537,000	537,000
Issuance of common stock upon exercise of stock options	$ 94		94
Vesting of restricted stock units (in shares)		9,850,000
Vesting of restricted stock units	(3,343)		(3,343)
Stock-based compensation	174,028		174,028
Unrealized (loss) gain on marketable securities	(1,158)			(1,158)
Net loss	(191,995)					(191,995)
Ending balance (in shares) at Dec. 31, 2021		273,294,000
Ending balance at Dec. 31, 2021	$ 1,238,039	$ 3	$ 4,509,724	$ (747)		$ (3,270,941)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)		273,294,000

CONSOLIDATED STATEMENTS OF REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY(Parenthetical) $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($)
Statement of Stockholders' Equity [Abstract]
Payments of issuance costs	$ 181

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash Flows Operating Activities:
Net loss	$ (191,995)	$ (57,294)	$ (31,125)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	13,294	11,169	6,260
Amortization of deferred contract acquisition costs	12,844	7,681	4,038
Stock-based compensation	173,443	43,280	273
Premium (discount) amortization on marketable securities	1,757	1,227	(194)
Gain realized on sale of marketable securities and non-marketable equity investments	(23,836)	(132)	(316)
Change in fair value of equity securities	(132)	(107)	(266)
Deferred income taxes	(1,907)	(2,360)	(939)
Other	(28)	143	386
Changes in operating assets and liabilities:
Accounts receivable	(17,509)	(9,932)	(9,366)
Deferred contract acquisition costs	(24,218)	(14,344)	(9,579)
Prepaid expenses and other assets	(5,942)	(8,165)	(11,340)
Accounts payable	1,986	53	2,665
Accrued and other liabilities	17,714	24,867	13,902
Deferred revenue	55,989	36,444	27,437
Net cash provided by (used in) operating activities	11,460	32,530	(8,164)
Cash Flows from Investing Activities:
Purchases of property and equipment	(5,565)	(4,383)	(11,505)
Proceeds from sale of property and equipment	620	0	0
Capitalized internal-use software	(3,552)	(4,631)	(3,323)
Sale of non-marketable equity investment	23,979	0	0
Purchases of marketable securities	(686,078)	(115,689)	(176,575)
Sales of marketable securities	131,170	18,658	24,707
Maturities and redemptions of marketable securities	119,130	101,445	23,719
Acquired intangible assets	0	(1,750)	0
Business combination, net of cash acquired	0	(5,075)	(5,972)
Net cash used in investing activities	(420,296)	(11,425)	(148,949)
Net Cash Provided by (Used in) Financing Activities [Abstract]
Proceeds from initial public offering, net of underwriting discounts	1,069,348	0	0
Proceeds from issuance of Series H redeemable convertible preferred stock, net of issuance costs	0	0	149,820
Sale of redeemable convertible preferred stock	0	0	100,000
Repurchase of redeemable convertible preferred stock	0	0	(100,000)
Proceeds from exercise of stock options	94	246	689
Payment of deferred offering costs	(6,830)	0	0
Payment of withholding taxes on net share settlement of equity awards	(3,343)	0	0
Payment of acquisition-related liabilities	(900)	(2,155)	(277)
Net cash provided by (used in) financing activities	1,058,369	(1,909)	150,232
Net increase (decrease) in cash, cash equivalents and restricted cash	649,533	19,196	(6,881)
Cash, cash equivalents and restricted cash, beginning of period	98,331	79,135	86,016
Cash, cash equivalents and restricted cash, end of period	747,864	98,331	79,135
Reconciliation of cash, cash equivalents and restricted cash to consolidated balance sheets:
Cash and cash equivalents	747,861	95,382	74,999
Restricted cash included in prepaid expenses and other current assets	0	1,930	3,114
Restricted cash included in other assets	3	1,019	1,022
Total cash, cash equivalents and restricted cash	747,864	98,331	79,135
Supplemental cash flow information:
Cash paid for taxes	10,458	5,075	3,461
Non-cash investing and financing activities:
Purchased property and equipment included in accrued expenses	492	62	1,393
Property and equipment acquired through tenant improvement allowance	0	322	1,524
Deferred purchase consideration for acquisition	0	900	2,883
Accretion of redeemable convertible preferred stock	2,646,662	1,560,524	553,339
Conversion of redeemable convertible preferred stock into common stock upon initial public offering	$ 5,541,758	$ 0	$ 0

Description of Business	12 Months Ended
Description of Business	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of Business Freshworks Inc. (Freshworks, or the Company) is a software development company that provides modern software-as-a-service (SaaS) products that are designed with the user in mind. The Company was incorporated in Delaware in 2010 and is headquartered in San Mateo, California, and has foreign subsidiaries located in India, Australia, the United Kingdom, Ireland, Germany, France, the Netherlands, and Singapore. Initial Public Offering In September 2021, the Company completed its initial public offering (IPO), in which it issued and sold 31,350,000 shares of its newly authorized Class A common stock at $36.00 per share, which included 2,850,000 shares issued upon the exercise of the underwriters’ option to purchase additional shares. The Company received net proceeds of approximately $1.1 billion from the IPO, after deducting underwriters’ discounts. As of December 31, 2021, deferred offering costs totaling $7.3 million were reclassified to stockholders' equity (deficit) as a reduction of the net proceeds from the IPO. Pursuant to the Company's amended and restated certificate of incorporation, all shares of common stock then outstanding were reclassified as Class B common stock prior to the IPO. Upon completion of the IPO, the majority of shares of Class B common stock then outstanding were automatically converted to Class A common stock on a one-to-one basis, unless an option to remain as Class B common stock was elected by the holder. In addition, all shares of redeemable convertible preferred stock then outstanding were converted into 153,937,730 shares of common stock on a one-to-one basis and then reclassified into Class B common stock. See Note 10 for additional details. As detailed in Note 11—Stockholders' Equity and Stock-Based Compensation, under the 2011 Stock Plan, the Company granted employees restricted stock units (RSUs) with both a service and a liquidity performance condition. Upon the Company's IPO in September 2021, the liquidity event condition was met for all RSUs. RSUs that had already met the service condition at that date were entitled to one share of Class B common stock for each vested RSU. On November 4, 2021, as part of an early lockup agreement with the underwriters during the IPO, the Company issued a total of 9.9 million shares of common stock underlying the RSUs to its employees. Stock Split In September 2021, the Company completed a 10-for-one forward stock split of the Company’s authorized, issued and outstanding stock. All share and per share information included in the accompanying consolidated financial statements and notes thereto has been adjusted on a retrospective basis to reflect this stock split.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Basis of Presentation and Principles of Consolidation

The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP). The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.

Foreign Currency Remeasurement and Transactions

The functional currency of the Company’s foreign subsidiaries is the U.S. dollar. Accordingly, each foreign subsidiary remeasures monetary assets and liabilities at period-end exchange rates, while non-monetary items are remeasured at historical rates. Revenues and expenses are remeasured at the exchange rates in effect on the day the transaction occurred, except for those expenses related to non-monetary assets and liabilities, which are remeasured at historical exchange rates. Remeasurement adjustments are recognized in interest and other income, net in the consolidated statements of operations, and have not been material for the years ended December 31, 2021, 2020, and 2019.

Use of Estimates

The preparation of consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the

date of the consolidated financial statements, and the reported amounts of income and expense during the reporting periods. Significant items subject to such estimates and assumptions include, but are not limited to, the following:

•determination of standalone selling price (SSP) for each distinct performance obligation included in customer contracts with multiple performance obligations;

•allowance for doubtful accounts;

•expected benefit period of deferred contract acquisition costs;

•capitalization of internal-use software development costs;

•fair value of acquired intangible assets and goodwill;

•useful lives of long-lived assets;

•valuation of deferred tax assets;

•valuation of employee defined benefit plan; and

•fair value of share-based awards, including performance-based awards.

Risk and Uncertainties

Due to the COVID-19 pandemic, the Company has temporarily closed its headquarters in San Mateo, California, and other offices around the world, required its employees to work remotely from home, and implemented travel restrictions, all of which have caused significant disruption in how the Company operates its business. At the same time, the operations of its partners and customers have also been disrupted. While the duration and extent of the COVID-19 pandemic depends largely on future developments that cannot be accurately predicted at this time, such as the extent of and effectiveness of containment actions and developed vaccines, it has already had an adverse effect on the global economy and the ultimate societal and economic impact of the COVID-19 pandemic remains unknown. Additionally, inflationary pressures and a global labor shortage are currently impacting the pace of global recovery. In particular, the conditions caused by this pandemic could adversely affect demand for the Company’s products and services, lead to longer sales cycles, reduce the value or duration of subscriptions, negatively impact collections of accounts receivable, reduce expected spending from new customers, cause some of the existing customers to go out of business, limit the potential to generate additional business with new customers due to travel restrictions imposed, and affect contraction or attrition rates of the Company’s customers, all of which could adversely affect the Company’s business, results of operations, and financial condition. While government authorities are adjusting COVID-19 related restrictions, we continue to actively monitor the situation and may take further actions that alter our business operations as may be required by federal, state, or local authorities, or that we determine are in the best interests of our employees, customers, partners, suppliers, and stockholders, including in response to outbreaks and variants. The Company is not aware of any specific event or circumstances related to COVID-19 or other estimates that would require it to update estimates or judgments or adjust the carrying value of its assets or liabilities. Actual results could differ from those estimates and any such differences may be material to the consolidated financial statements.

Segment Information

The Company operates in a single operating segment. The Chief Executive Officer (CEO) is the chief operating decision maker of the Company and makes operating decisions, assesses financial performance, and allocates resources based upon discrete financial information at a consolidated level.

Revenue Recognition

The Company derives revenue from subscription fees and related professional services. The Company sells subscriptions for its cloud-based solutions directly to customers and indirectly through channel partners through arrangements that are non-cancelable and non-refundable. The Company’s subscription arrangements do not provide customers with the right to take possession of the software supporting the solutions and, as a result, are accounted for as service arrangements. The Company records revenue net of sales or value-added taxes.

On occasion, the Company sells subscriptions to third-party resellers. The price at which subscriptions are sold to the reseller is typically discounted, as compared to the price at which the Company would sell to an end customer, in order to enable the reseller to realize a margin on the eventual sale to the end customer. As pricing to the reseller is fixed, and the

Company lacks visibility into the pricing provided by the reseller to the end customer, reseller revenue is recorded net of any reseller margin.

Subscription Revenue

Subscription revenue is primarily comprised of fees paid by the Company’s customers for accessing its cloud-based software during the term of the arrangement. Cloud-based services allow customers to use the Company’s multi-tenant software without requiring them to take possession of the software. Given that access to the cloud-based software represents a series of distinct services that comprise a single performance obligation that is satisfied over time, subscription revenue is recognized ratably over the contract term beginning on the commencement date of each contract, which is the date that the cloud-based software is made available to customers.

Professional Services Revenue

Professional services revenue is comprised of fees charged for services ranging from product configuration, data migration, systems integration, and training. The Company recognizes professional services revenues as services are performed.

Customers with Multiple Performance Obligations

Some of the Company’s contracts with customers contain both subscriptions and professional services. For these contracts, the Company accounts for individual performance obligations separately. The transaction price is allocated to the separate performance obligations on the basis of relative SSP. The Company determines SSP by taking into consideration historical selling price of these performance obligations in similar transactions, as well as current pricing practices and other observable inputs including, but not limited to, customer size and geography. As the Company’s go-to-market strategies evolve, it may modify its pricing practices in the future, which could result in changes to SSP.

Cost of Revenue

Cost of revenue consists primarily of personnel-related expenses (primarily including salaries, related benefits, and stock-based compensation) for employees associated with the Company’s cloud-based infrastructure, payment gateway fees, voice, product support, and professional service organizations, as well as costs incurred by the Company for third-party hosting capabilities. Cost of revenue also includes third-party license fees, amortization of acquired intangibles, amortization of capitalized internal-use software, and allocation of general overhead expenses such as facilities and information technology.

Research and Development

Research and development costs are expensed as incurred and consist primarily of personnel-related expenses (primarily including salaries, related benefits, and stock-based compensation) for the Company’s product development employees. Research and development expenses also include non-personnel-related expenses such as third-party services for product development and consulting expenses, depreciation expense related to equipment used in research and development activities, and allocation of the Company’s general overhead expenses.

Advertising Costs

Advertising costs are charged to sales and marketing expense in the consolidated statements of operations as incurred. The Company recognized $41.2 million, $31.1 million, and $31.3 million for the years ended December 31, 2021 , 2020, and 2019, respectively.

Stock-Based Compensation

The Company issues stock options and restricted stock units (RSUs) to employees, consultants, and directors, and stock purchase rights granted under the Employee Stock Purchase Plan (ESPP) to employees based on the estimated fair value on the date of the grant. For stock options and ESPP, the fair value is estimated using the Black-Scholes option-pricing model, and stock-based compensation expense is recognized in the consolidated statements of operations using the straight line attribution method. The Black-Scholes option pricing model requires the input of highly subjective assumptions, including the fair value of the underlying common stock, the expected term of the option, the expected stock price volatility of the Company's common stock, risk-free interest rates, and the expected dividend yield of the Company's common stock. The assumptions used to

determine the fair value of the option awards represent the Company's best estimates. These estimates involve inherent uncertainties and the application of the Company's judgement.

The fair value of RSUs is based on the closing market price of its Class A common stock on the date of the grant. The Company recognizes stock-based compensation on a straight-line basis over the requisite service period, which is the vesting period of the respective awards. Forfeitures are accounted for when they occur.

Prior to the IPO, the fair market value of the Company's common stock on the date of the grant was determined based on independent third-party valuations as there was no public market, and there was no stock-based compensation expense recognized from the RSUs as the liquidity event-related performance condition was not probable. Upon completion of the IPO, the performance condition became probable, and the Company began to recognize stock-based compensation expense.

For the performance-based award granted to the CEO with both a service-based vesting condition and a market condition (as discussed further in Note 11), the Company determined the fair value of the award by using the Monte Carlo simulation model. Since both vesting conditions have to be met for each tranche of the award to ultimately vest, the associated stock-based compensation expense is recognized over the longer of the derived service period or the requisite service period, using the accelerated attribution method. Provided that the CEO remains employed by the Company in his current position, stock-based compensation expense is recognized over the requisite service period, regardless of whether the stock price goals are achieved.

Income Taxes

Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recorded for deferred tax assets if it is more likely than not that some portion or all of the deferred tax assets will not be realized. As of December 31, 2021 and 2020, the Company has recorded a full valuation allowance against its U.S. deferred tax assets.

The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is more likely than not of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs.

The Company recognizes interest and penalties related to income tax matters as a component of income tax expense.

Cash and Cash Equivalents

Cash and cash equivalents consist of deposits held at financial institutions, money market funds, as well as highly liquid investments with an original maturity of three months or less when purchased. Cash and cash equivalents are recorded at cost, which approximates fair value.

Marketable Securities

Marketable securities consist primarily of debt securities such as corporate bonds, commercial paper, U.S. treasury securities, and U.S. government agency securities. These securities are classified as available-for-sale securities at the time of purchase as they represent funds readily available for current operations, and the Company also has the ability and intent to liquidate them at any time to meet its operating cash needs, if necessary. All available-for-sale debt securities are recorded at their estimated fair value, with changes in fair value recognized as unrealized gains or losses in accumulated other comprehensive income. For any security in an unrealized loss position, the Company evaluates it to assess whether the associated unrealized loss is considered other than temporary. Impairments are considered other-than-temporary if they are related to a deterioration in credit risk or if it is likely that the Company will sell the security before the recovery of its cost basis. Realized gains and losses and declines in value determined to be other than temporary are determined based on the specific identification method and are reported in interest and other income, net in the consolidated statements of operations. There was no impairment recorded for the years ended December 31, 2021, 2020, and 2019.

Marketable securities also include mutual funds comprised of certain term bonds. These mutual funds meet certain criteria for equity investments in accordance with ASU 2016-01, Recognition and Measurement of Financial Assets and Liabilities. Under this guidance, the Company measures these mutual funds at their estimated fair value, with changes in fair value recognized in interest and other income, net in the consolidated statements of operations.

Non-Marketable Equity Securities

The Company owns interests in non-marketable equity investments, which consist of minority equity interests in privately held companies. The Company does not have significant influence over these investments, which do not have readily determinable fair values. Under ASU 2016-01, the Company has elected the measurement alternative to carry them at cost, less any impairment charges.

Accounts Receivable and Allowance for Doubtful Accounts

Trade accounts receivable are recorded at the invoiced amount, net of allowance for doubtful accounts. The allowance is based on the Company’s assessment of the collectability of accounts and is recorded as an offset to revenue and deferred revenue. The Company regularly reviews the adequacy of the allowance by considering the age of each outstanding invoice and the collection history. As of December 31, 2021 and 2020, the Company's allowance for doubtful accounts was $6.0 million and $6.4 million, respectively.

Concentrations of Credit Risk

Financial instruments that potentially expose the Company to significant concentration of credit risk consist primarily of cash, cash equivalents, marketable securities, and accounts receivable. The Company’s cash and cash equivalents and marketable securities are generally held with large financial institutions and are in excess of the federally insured limits provided on such deposits. In addition, the Company has cash and cash equivalents held in international bank accounts, which are denominated primarily in Euros, British Pounds, Indian Rupees, and Australian Dollars.

There were no customers that individually exceeded 10% of the Company’s revenue for the years ended December 31, 2021, 2020, and 2019 or that represented 10% or more of the Company’s consolidated accounts receivable balance as of December 31, 2021 and 2020.

Deferred Contract Acquisition Costs

Deferred contract acquisition costs are incremental costs that are associated with acquiring customer contracts and consist primarily of sales commissions and the associated payroll taxes and certain referral fees paid to independent third-parties. The costs incurred upon the execution of initial and expansion contracts are primarily deferred and amortized over an expected benefit period of three years. The expected benefit period is determined by taking into consideration the Company’s contracts with customers, technology life cycle and other factors. The Company considers the expected benefit period to exceed the initial contract term for certain costs because of anticipated renewals and because sales commission rates for renewal contracts are not commensurate with sales commissions for initial contracts. The Company includes amortization of deferred commissions in sales and marketing expense in its consolidated statements of operations. There was no impairment loss in relation to the incremental selling costs capitalized for the years ended December 31, 2021, 2020, and 2019.

The Company has elected to apply the practical expedient under Accounting Standards Codification (ASC) No. 340-40—Other Assets and Deferred Costs to account for costs incurred in obtaining a contract with the expected benefit period of one year or less as commission expenses, which are included in sales and marketing expense in its consolidated statements of operations.

Property and Equipment, net

Property and equipment, net, including capitalized internally-developed software, is stated at cost less accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the respective assets as follows:


			Estimated Useful Life
Computers			3 years
Capitalized internal-use software			3 years
Office equipment, furniture and fixtures			5 years
Motor vehicles			5 years
Leasehold improvements			Lesser of lease term or 5 years

Expenditures for maintenance and repairs are charged to expense as incurred.

Capitalized Internal-Use Software

The Company capitalizes costs incurred in its software development projects as part of property and equipment during the application development stage. Costs related to preliminary project activities and post implementation activities are expensed as incurred. Once the development project is available for general release, capitalization ceases, and the Company estimates the useful life of the asset and begins amortization. Internal-use software is amortized on a straight-line basis over its estimated useful life, which is generally three years.

The Company also capitalizes certain costs related to its enterprise cloud computing services and certain projects for internal use incurred during the application development stage. Costs related to preliminary project activities and post-implementation activities are expensed as incurred. Internal-use software is amortized on a straight-line basis over its estimated useful life.

The Company evaluates the useful lives of these assets on an annual basis and tests for impairment whenever events or changes in circumstances occur that could impact the recoverability of these assets.

Business Combinations

The Company applies a screen test to determine whether a transaction is more akin to an asset acquisition or a business combination. If this screen test indicates that substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets, the transaction is accounted for as an asset acquisition. In a business combination, the purchase consideration is allocated to the tangible assets acquired, liabilities assumed, and intangible assets acquired based on their estimated respective fair values. The excess of the fair value of purchase consideration over the fair values of these identifiable assets and liabilities is recorded as goodwill. The Company’s estimates of fair value are based upon assumptions believed to be reasonable, but which are inherently uncertain and unpredictable, and consequently, actual results may differ from estimates.

Long-Lived Assets (Including Goodwill and Intangible Assets)

Long-lived assets with finite lives include property and equipment, capitalized internal-use software, and acquired intangible assets. The Company evaluates long-lived assets, including acquired intangible assets and capitalized internal-use software, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets held and used is measured by comparison of the carrying amount of an asset or an asset group to estimated undiscounted future net cash flows expected to be generated by the asset or asset group. If the carrying amount of an asset or asset group exceeds these estimated future cash flows, an impairment charge is recognized in the amount by which the carrying amount of the assets exceeds the fair value of the asset or asset group.

Goodwill is not amortized but rather is tested for impairment at least annually in the fourth quarter, or more frequently if events or changes in circumstances indicate that goodwill may be impaired. Goodwill impairment is recognized when the quantitative assessment results in the carrying value of the reporting unit exceeding its fair value, in which case an impairment charge in the amount of such excess is recorded to goodwill, limited to the amount of goodwill. The Company did not recognize any impairment of goodwill during the years ended December 31, 2021, 2020, and 2019.

Deferred Revenue

Deferred revenue consists of customer billings in advance of revenue being recognized from the Company’s subscription and professional services arrangements. Customers are invoiced for subscription services arrangements in advance for monthly, quarterly, semi-annual and annual subscription plans. The Company’s payment terms generally provide that customers pay the invoiced portion of the total arrangement fee either in advance or within 30 days from the invoice date.

Comprehensive Loss

Comprehensive loss is comprised of two components—net loss and other comprehensive (loss) income. Other comprehensive (loss) income includes unrealized gains or losses on available-for-sale debt securities recognized during the period.

The following tables shows the change in unrealized gains or losses within accumulated other comprehensive (loss) income:


	December 31,
	2021		2020		2019
Beginning balance	$	411	$	139	$	1,141
Add: Unrealized (losses) gains on available-for-sale debt securities	(1,152)		405		—
Less: Adjustment for the adoption of ASU 2016-01	—		—		(981)
Less: Reclassification of unrealized gains to interest and other income, net, in the consolidated statements of operations	(6)		(133)		(21)
Net impact to other comprehensive (loss) income in current period	(1,158)		272		(1,002)
Ending balance	$	(747)	$	411	$	139

Net Loss per Share Attributable to Common Stockholders

Basic and diluted net loss per share attributable to common stockholders are presented in conformity with the two-class method required for participating securities. Under the two-class method, net income is attributed to common stockholders and participating securities based on their participation rights. Prior to the IPO, the Company considered all series of its redeemable convertible preferred stock to be participating securities. Net loss attributable to common stockholders was not allocated to the redeemable convertible preferred stock as the holders of the redeemable convertible preferred stock were not contractually obligated to share in the losses of the Company.

Basic net loss per share attributable to common stockholders is computed by dividing the net loss attributable to common stockholders by the number of weighted-average shares of common stock outstanding during the reporting period. Prior to the IPO, the net loss attributable to common stockholders was adjusted for accretion of the carrying value of redeemable convertible preferred stock and deemed dividend distribution. Since the Company has reported net losses for all periods presented, all potentially dilutive securities are considered antidilutive, and accordingly, diluted net loss per share is the same as basic net loss per share.

Defined Benefit Plan

Employees in India are entitled to benefits under the Gratuity Act, a defined benefit retirement plan covering eligible employees. The plan requires employers to provide for a lump-sum payment to eligible employees at retirement, death, and incapacitation or on termination of employment, of an amount based on the respective employee’s salary and tenure of employment. Employees in India are also entitled to a defined benefit plan with benefits based on an employee’s accumulated leave balance and salary. Both plans are unfunded arrangements.

Current service costs are accrued in the period to which they relate. The benefit obligations are calculated by a qualified actuary using the projected unit credit method and the unfunded position is recognized as a liability in the consolidated balance sheets. In measuring the defined benefit obligations, the Company uses a discount rate at the reporting date based on yields of local government treasury bills denominated in the same currency in which the benefits are expected to be paid, with maturities approximating the terms of the Company’s obligations.

Since the plan is unfunded, no annual contributions are required to be made as per applicable regulations. Disclosures required under ASC 715—Compensation—Retirement Benefits, have been omitted because the Company has deemed them immaterial to its consolidated financial statements. The benefit plans had a plan benefit obligation of $7.4 million and $5.6 million as of December 31, 2021 and 2020, respectively, included in other liabilities in the consolidated balance sheets.

Leases

The Company accounts for its existing leases of office facilities as operating leases. Certain facility lease agreements contain rent holidays, allowances and rent escalation provisions. For leases that contain rent escalation or rent concession provisions, the Company records the total rent expense during the lease term on a straight-line basis over the term of the lease. The difference between the amount of rent paid and the straight-line rent expense is recorded as deferred rent, with its current and long-term portions classified in accrued liabilities and other liabilities, respectively, in the consolidated balance sheets.

Recent Accounting Pronouncements

New accounting pronouncements are issued by the Financial Accounting Standards Board (FASB) under its ASC or ASU and adopted by the Company as of the specified effective date.

As an emerging growth company, the Jumpstart Our Business Startups Act (the JOBS Act) allows the Company to delay adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies. The Company has elected to use the adoption dates applicable to private companies. As a result, the Company’s financial statements may not be comparable to the financial statements of issuers who are required to comply with the effective date for new or revised accounting standards that are applicable to public companies.

Recently Adopted Accounting Pronouncements

In August 2018, the FASB issued ASU 2018-15, Intangibles — Goodwill and Other — Internal-Use Software (Subtopic 350-40), Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. The ASU aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The Company adopted the requirements of ASU 2018-15 as of January 1, 2021 on a prospective basis. The adoption of this standard did not have a material impact on the Company’s consolidated financial statements.

Accounting Pronouncements Not Yet Adopted

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which requires lessees to recognize most leases on their balance sheets as right-of-use (ROU) assets with corresponding lease liabilities and eliminates certain real estate-specific provisions. Under the standard, lease expenses will continue to be recorded over the lease term in the consolidated statements of operations in a manner similar to the current standard. Certain practical expedients are available for lessees to elect upon adopting the new standard. This standard is effective for the Company on January 1, 2022, and early adoption is permitted. The Company plans to adopt Topic 842 on a modified basis using the optional transition method, and accordingly, will not restate comparative periods. Amounts and related disclosures for fiscal 2021 will continue to be presented in accordance with ASC 840, Leases. Amounts and disclosures for fiscal 2022 will be presented under ASC 842. The Company expects adoption of the standard will result in the recognition of additional ROU assets and lease liabilities for operating leases in the range of approximately $23.0 million to $25.0 million, and $28.0 million to $30.0 million, respectively, as of January 1, 2022. Additionally, the adoption of this standard will have no impact to the Company's consolidated income statements and cash flows.

In June 2016, the FASB issued ASU 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. ASU 2016-13 requires measurement and recognition of expected credit losses for financial assets by requiring an allowance to be recorded as an offset to the amortized cost of such assets. The Company is required to adopt this standard on or before January 1, 2023. The Company elected to early adopt ASU 2016-13 effective January 1, 2022 using the modified retrospective approach. The standard primarily impacts our financial assets measured at amortized cost and available-for-sale debt securities. The adoption of this standard will not have a material impact on the Company's consolidated financial statements.

In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes (Topic 740). The standard eliminates certain exceptions related to the approach for intraperiod tax allocation and the methodology for calculating income taxes in an interim period. The standard also simplifies aspects of accounting for franchise taxes and enacted changes in tax or rates, and clarifies the accounting for transactions that result in a step-up in the tax basis for goodwill. The guidance will become effective for the Company on January 1, 2022; early adoption is permitted. The adoption of this standard will not have a material impact on the Company's consolidated financial statements.

In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires acquiring entities to apply Topic 606 to recognize and measure contract assets and contract liabilities in a business combination. ASU 2021-08 will become effective for public entities for fiscal years beginning after December 15, 2022, to be applied prospectively to business combinations occurring on or after the effective date of the ASU, with early adoption permitted. The Company is currently evaluating the impact of adopting this standard.

Revenue from Contracts with Customers

12 Months Ended

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

Revenue from Contracts with Customers

Revenue From Contracts with Customers

Revenue

possession of the software supporting the solutions and, as a result, are accounted for as service arrangements. The Company records revenue net of sales or value-added taxes.

Disaggregation of Revenues

The following table summarizes revenue by the Company’s service offerings (in thousands):


	Year Ended December 31,
	2021		2020		2019
Subscription services	$	360,506	$	242,879	$	168,682
Professional services	10,516		6,780		3,695
Total revenue	$	371,022	$	249,659	$	172,377

See Note 14 for revenue by geographic location.

Deferred Revenue and Remaining Performance Obligations

Deferred revenue consists of customer billings in advance of revenue being recognized from the Company’s subscription and professional services arrangements. The following table summarizes the changes in the balance of deferred revenue during the periods (in thousands):


	December 31,
	2021		2020		2019
Balance at beginning of the year	$	104,184	$	67,540	$	39,739
Add: Billings during the year	427,011		286,303		200,178
Less: Revenue recognized during the year	(371,022)		(249,659)		(172,377)
Balance at end of the year	$	160,173	$	104,184	$	67,540

Revenue recognized during the years ended December 31, 2021, 2020, and 2019 from amounts included in deferred revenue at the beginning of these periods was $103.8 million, $67.5 million, and $39.7 million, respectively.

The aggregate balance of remaining performance obligations as of December 31, 2021 was $230.8 million. The Company expects to recognize $178.4 million of the balance as revenue in the next 12 months and the remainder thereafter. The aggregate balance of remaining performance obligations represents contracted revenue that has not yet been recognized, which includes unearned revenue and unbilled amounts that will be recognized as revenue in future periods.

Deferred Contract Acquisition Costs

The change in the balance of deferred contract acquisition costs during the periods presented is as follows (in thousands):


	December 31,
	2021		2020		2019
Balance at beginning of the year	$	18,273	$	11,610	$	6,069
Add: Contract costs capitalized during the year	24,218		14,344		9,579
Less: Amortization of contract costs during the year	(12,844)		(7,681)		(4,038)
Balance at end of the year	$	29,647	$	18,273	$	11,610

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

+ Details

Cash Equivalents and Marketable Securities

12 Months Ended

Dec. 31, 2021

Investments, Debt and Equity Securities [Abstract]

Cash Equivalents and Marketable Securities

Cash equivalents and available-for-sale debt securities consisted of the following as of December 31, 2021 and 2020 (in thousands):


	December 31, 2021
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Cash equivalents:
Money market funds	$	684,485	$	—	$	—	$	684,485
U.S. treasury securities	22,000		—		—		22,000
U.S. government agency securities	4,286		—		(1)		4,285
Corporate debt securities	15,998		—		—		15,998
Total cash equivalents	726,769		—		(1)		726,768
Debt securities:
U.S. treasury securities	442,715		2		(432)		442,285
U.S. government agency securities	75,725		—		(159)		75,566
Corporate debt securities	54,335		17		(175)		54,177
Total debt securities	572,775		19		(766)		572,028
Total cash equivalents and debt securities	$	1,299,544	$	19	$	(767)	$	1,298,796


	December 31, 2020
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Cash equivalents:
Money market funds	$	56,474	$	—	$	—	$	56,474
Debt Securities:
U.S. treasury securities	50,087		136		—		50,223
Corporate debt securities	85,413		265		(5)		85,673
Asset-backed securities	3,247		15		—		3,262
Total debt securities	138,747		416		(5)		139,158
Total cash equivalents and debt securities	$	195,221	$	416	$	(5)	$	195,632

As of December 31, 2021 and 2020, there were no securities that have been in a continuous unrealized loss position for 12 months or longer.

The amortized cost and fair value of the available-for-sale debt securities based on contractual maturities are as follows (in thousands):


	December 31, 2021
	Amortized Cost		Fair Value
Due within one year	$	392,629	$	392,412
Due after one year but within five years	180,146		179,616
Total	$	572,775	$	572,028

In addition to available-for-sale debt securities, marketable securities also include term bond mutual funds, which are measured at fair value. As of December 31, 2021 and 2020, the fair value of the term bond mutual funds was $3.7 million and $3.6 million, respectively.

The change in fair value of the term bond mutual funds is recorded in interest and other income, net in the consolidated statements of operations. The following table summarizes the realized and unrealized gains recognized in the consolidated

statements of operations for the term bond mutual funds during the years ended December 31, 2021, 2020, and 2019 (in thousands):


	Year Ended December 31,
	2021		2020		2019
Net gains recognized on marketable equity investments	$	132	$	107	$	582
Less: Net gains recognized on sale of marketable equity investments	—		—		(316)
Unrealized gains at the end of the period	$	132	$	107	$	266

Non-Marketable Equity Securities

Non-marketable equity securities represent the Company’s interest in privately held entities which have no readily determinable fair values. The Company carries these investments at cost, less impairment, and reports them under other assets in the consolidated balance sheets. As of December 31, 2021 and 2020, the Company had non-marketable equity securities of $0.4 million and $0.5 million, respectively.

In September 2021, the Company sold its interest in a privately held entity for proceeds totaling $24.0 million, resulting in a gain of $23.8 million, which was recorded in interest and other income, net, in the consolidated statements of operations.

Fair Value Measurements

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Fair Value Measurements

The Company measures its financial assets at fair value each reporting period using a fair value hierarchy that prioritizes the use of observable inputs and minimizes the use of unobservable inputs when measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to measurements involving significant unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows:

Level 1—Inputs are observable and reflect quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date.

Level 2—Inputs other than quoted prices included within Level 1 that are observable, either directly or indirectly.

Level 3—Inputs that are unobservable.

Money market funds and U.S. treasury securities are classified within Level 1 because they are valued using quoted market prices or alternative pricing sources and models utilizing market observable inputs. Other debt securities and investments are classified within Level 2 if the investments are valued using model driven valuations which use observable inputs such as quoted market prices, benchmark yields, reported trades, broker/dealer quotes or alternative pricing sources with reasonable levels of price transparency. Available-for-sale debt securities are held by custodians who obtain investment prices from a third-party pricing provider that incorporates standard inputs in various asset price models.

In connection with the acquisition of Natero, Inc., the Company recognized a liability on the acquisition date for the estimated fair value of the contingent consideration based on the probability of achieving certain milestones pursuant to the acquisition agreement. The fair value measurement of the contingent consideration is based on significant unobservable inputs and management judgment; therefore, it is categorized under Level 3 at the balance sheet date in the table below.

The Company does not have any assets or liabilities subject to fair value remeasurement on a nonrecurring basis as of December 31, 2021 and 2020.

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table represents the fair value hierarchy for the Company’s financial assets and financial liabilities measured at fair value on a recurring basis as of December 31, 2021 and 2020 (in thousands):


	December 31, 2021
	Fair Value Measured Using
	Level 1		Level 2		Level 3		Total
Financial assets:
Cash equivalents:
Money market funds	$	684,485	$	—	$	—	$	684,485
U.S. treasury securities	22,000		—		—		22,000
U.S. government agency securities	—		4,285		—		4,285
Corporate debt securities	—		15,998		—		15,998
Marketable securities:
U.S. treasury securities	442,285		—		—		442,285
U.S. government agency securities	—		75,566		—		75,566
Corporate debt securities	—		54,177		—		54,177
Term bond mutual funds	—		3,651		—		3,651
Total financial assets	$	1,148,770	$	153,677	$	—	$	1,302,447
Financial liabilities:
Acquisition-related contingent consideration	$	—	$	—	$	800	$	800


	December 31, 2020
	Fair Value Measured Using
	Level 1		Level 2		Level 3		Total
Financial assets:
Cash equivalents:
Money market funds	$	56,474	$	—	$	—	$	56,474
Marketable securities:
U.S. treasury securities	50,223		—		—		50,223
Corporate debt securities	—		85,673		—		85,673
Asset-backed securities	—		3,262		—		3,262
Term bond mutual funds	—		3,575		—		3,575
Total financial assets	$	106,697	$	92,510	$	—	$	199,207
Financial liabilities:
Acquisition-related contingent consideration	$	—	$	—	$	775	$	775

The following table represents a reconciliation of the contingent consideration liability measured at fair value on a recurring basis, using Level 3 significant unobservable inputs (in thousands):


	December 31,
	2021		2020
Beginning balance	$	775	$	1,950
Additions during the period	—		—
Payments during the period	—		(1,200)
Change in estimated fair value	25		25
Ending balance	$	800	$	775

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Balance Sheet Components

12 Months Ended

Dec. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Balance Sheet Components

Property and Equipment, net

The following table summarizes property and equipment, net as of December 31, 2021 and 2020 (in thousands):


	December 31,
	2021		2020
Computers	$	13,041	$	9,249
Capitalized internal-use software	14,178		10,041
Office equipment	3,375		2,770
Furniture and fixtures	8,395		9,472
Motor vehicles	1,421		2,423
Leasehold improvements	4,274		4,274
Construction in progress	—		322
Total property and equipment	44,684		38,551
Less: accumulated depreciation and amortization	(23,206)		(17,767)
Property and equipment, net	$	21,478	$	20,784

Capitalization of costs associated with internal-use software was $4.1 million and $4.6 million for the years ended December 31, 2021 and 2020, respectively. As of December 31, 2021 and 2020, the net carrying value of capitalized internal-use software was $8.3 million and $6.7 million, respectively.

Depreciation expense and amortization of internal-use software for the years ended December 31, 2021, 2020, and 2019 totaled $9.0 million, $6.9 million, and $4.9 million, respectively.

Accrued Liabilities

The following table summarizes accrued liabilities as of December 31, 2021 and 2020 (in thousands):


	December 31,
	2021		2020
Accrued compensation	$	17,261	$	8,983
Acquisition-related liabilities	800		1,942
Accrued third-party cloud infrastructure expenses	2,785		1,572
Accrued reseller commissions	5,870		3,999
Accrued advertising and marketing expenses	6,022		2,412
Advanced payments from customers	3,260		2,815
Accrued taxes	10,777		8,645
Other accrued expenses	9,054		5,240
Total accrued liabilities	$	55,829	$	35,608

Business Combinations and Asset Purchase	12 Months Ended
Business Combinations and Asset Purchase	Dec. 31, 2021
Business Combination and Asset Acquisition [Abstract]
Business Combinations and Asset Purchase	Business Combinations and Asset Purchase AnsweriQ Inc. (AIQ) In January 2020, the Company acquired all issued and outstanding shares of AIQ, a provider of machine learning and artificial intelligence self-service tools. The acquisition date cash consideration paid was $5.7 million. The Company acquired $4.0 million of developed technology with an estimated useful life of two years, and $1.7 million of goodwill which is primarily attributed to the assembled workforce. Infiverve Technologies Private Ltd. and Infiverve Technologies Pte. Ltd. (collectively known as Flint) In March 2020, the Company entered into an asset purchase agreement with Flint, an IT orchestration and cloud management platform, to complement Freshservice’s IT service management and IT operations management product capabilities, for a total consideration of $2.0 million in cash. The transaction was accounted for as an asset acquisition as the developed technology was the only asset acquired. None of the above transactions had a material impact on the Company’s consolidated financial statements; therefore, historical and proforma disclosures have not been presented.

Goodwill and Intangible Assets, Net

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets, Net

The carrying value of goodwill was $6.2 million as of December 31, 2021 and 2020.

Acquired intangibles consist of developed technology and customer relationships and are amortized on a straight-line basis over their estimated useful lives. The following tables summarize acquired intangible assets as of December 31, 2021 and 2020 (amounts in thousands):


	December 31, 2021
	Gross Amount		Accumulated Amortization		Net Carrying Value		Weighted Average Remaining Useful Life
							(in years)
Developed technology	$	10,496	$	(9,147)	$	1,349	0.9
Customer relationships	1,600		(1,055)		545		1.4
Total	$	12,096	$	(10,202)	$	1,894


	December 31, 2020
	Gross Amount		Accumulated Amortization		Net Carrying Value		Weighted Average Remaining Useful Life
							(in years)
Developed technology	$	10,496	$	(5,218)	$	5,278	1.5
Customer relationships	1,600		(655)		945		2.4
Total	$	12,096	$	(5,873)	$	6,223

Total amortization of acquired intangible assets was $4.3 million, $4.3 million and $1.4 million for the years ended December 31, 2021, 2020, and 2019, respectively. The Company recorded amortization of developed technology of $3.9 million, $3.9 million, and $1.1 million in cost of revenue and customer relationships of $0.4 million, $0.4 million, and $0.3 million in sales and marketing expenses in each of the respective periods in the consolidated statements of operations.

Expected future amortization expense related to acquired intangible assets is as follows (in thousands):


Year Ending December 31,	Amortization Expense
2022	$	1,591
2023	303
Total	$	1,894

Commitment and Contingencies

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Operating Leases

The Company leases office space under non-cancelable operating lease agreements, which expire on various dates through September 2028. Certain lease agreements include options to renew or terminate the lease, which are not reasonably certain to be exercised and therefore are not factored into the determination of lease payments. The Company maintains an uncollateralized letter of credit for the lease, which is renewed on an annual basis.

In September 2018, the Company entered into a lease agreement for its corporate headquarters located in San Mateo, California, which it occupied in January 2019. This lease covers approximately 22,000 square feet of office space at a monthly base rent of $113,246, increasing approximately 3% annually. The lease expires in July 2026, with an option to extend the lease for another five years, subject to certain requirements. The total commitment is $10.5 million with a tenant improvement allowance of $1.5 million.

Deferred rent was $4.6 million and $5.1 million as of December 31, 2021 and 2020, respectively, of which $3.8 million and $4.6 million was classified in other liabilities in the consolidated balance sheets in each of the two periods, respectively.

Rent expense for operating leases for the years ended December 31, 2021, 2020, and 2019 was $9.7 million, $10.2 million, and $7.1 million, respectively.

Future minimum lease payments under non-cancelable operating leases as of December 31, 2021, are as follows (in thousands):


Year ending December 31,	Operating Leases
2022	$	6,954
2023	6,790
2024	6,642
2025	5,976
2026	3,579
Thereafter	4,304
Total minimum future payments	$	34,245

Other Contractual Commitments

The Company's other contractual commitments primarily consist of third-party cloud infrastructure agreements and service subscription arrangements used to support operations at the enterprise level. Future minimum payments under the Company’s non-cancelable purchase commitments as of December 31, 2021 are presented in the table below (in thousands):


Year ending December 31,	Contractual Commitments
2022	$	26,953
2023	22,958
2024	1,658
Total	$	51,569

Litigation and Loss Contingencies

From time to time, the Company may be subject to other legal proceedings, claims, investigations, and government inquiries (collectively, Legal Proceedings) in the ordinary course of business. It may receive claims from third parties asserting, among other things, infringement of their intellectual property rights, defamation, labor and employment rights, privacy, and contractual rights. There are no currently pending Legal Proceedings that the Company believes will have a material adverse impact on the business or consolidated financial statements.

Indemnifications

In the ordinary course of business, the Company enters into contractual arrangements under which the Company agrees to provide indemnification of varying scope and terms to customers, business partners, and other parties with respect to certain matters, including losses arising out of intellectual property infringement claims made by third parties, if the Company has violated applicable laws, if the Company is negligent or commits acts of willful misconduct, and other liabilities with respect to its products and services and its business. In these circumstances, payment is typically conditional on the other party making a claim pursuant to the procedures specified in the particular contract. To date, the Company has not incurred any material costs as a result of such indemnifications and has not accrued any liabilities related to such obligations in its consolidated financial statements.

Commitments and Contingencies

Operating Leases

Rent expense for operating leases for the years ended December 31, 2021, 2020, and 2019 was $9.7 million, $10.2 million, and $7.1 million, respectively.

Future minimum lease payments under non-cancelable operating leases as of December 31, 2021, are as follows (in thousands):


Year ending December 31,	Operating Leases
2022	$	6,954
2023	6,790
2024	6,642
2025	5,976
2026	3,579
Thereafter	4,304
Total minimum future payments	$	34,245

Other Contractual Commitments


Year ending December 31,	Contractual Commitments
2022	$	26,953
2023	22,958
2024	1,658
Total	$	51,569

Litigation and Loss Contingencies

Indemnifications

Redeemable Convertible Preferred Stock

12 Months Ended

Dec. 31, 2021

Temporary Equity Disclosure [Abstract]

Redeemable Convertible Preferred Stock

Immediately prior to the completion of the IPO, all shares of redeemable convertible preferred stock then outstanding were converted into 153,937,730 shares of common stock on a one-to-one basis and then reclassified into Class B common stock, and their carrying value of $5.6 billion was reclassified into stockholders' equity (deficit). As of December 31, 2021, there were no shares of redeemable convertible preferred stock issued and outstanding.

As of December 31, 2020, there were 154,055,430 authorized shares and 153,937,730 issued and outstanding shares of redeemable convertible preferred stock with aggregate liquidation preference of $326.6 million.

The following table summarizes the Company’s redeemable convertible preferred stock as of December 31, 2020 (in thousands, except per share amounts):


	December 31, 2020
	Shares Authorized	Shares Outstanding	Original Issue Price		Liquidation Preference		Carrying Value

Series A	21,428	21,311	$	0.05	$	1,059	$	397,172
Series B	36,229	36,229	0.14		5,000		675,223
Series C	15,307	15,307	0.46		7,000		285,280
Series D	30,663	30,663	1.01		31,000		571,476
Series E	21,292	21,292	2.35		50,000		396,927
Series F	8,709	8,709	3.16		27,500		162,439
Series G	9,151	9,151	6.01		55,000		172,344
Series H	11,276	11,276	13.30		150,000		234,235
Total	154,055	153,938			$	326,559	$	2,895,096

Preferred Stock Transactions

In January 2020, an investor, also a member of the Board of Directors of the Company (the Board) at that time, entered into a secondary transaction to sell 26,210 shares of redeemable convertible Series A preferred stock, 1,314,830 shares of redeemable convertible Series B preferred stock, and 448,110 shares of redeemable convertible Series C preferred stock to a new investor for a total price in excess of the fair value of the shares. The sale was facilitated by the Company and deemed compensatory to the seller. The amount paid by the investor to acquire the shares was $25.5 million, while the fair value of the shares on the transaction date was $14.7 million. The excess value of $10.8 million was recognized as stock-based compensation expense by the Company in general and administrative expense in its consolidated statements of operations.

See Note 11 for a discussion of stock-based compensation recognized from the secondary transaction involving the repurchases of redeemable convertible preferred stock (as described above) and common stock from the Company’s founders and employees.

Stockholders' Equity and Stock Based Compensation

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Stockholders' Equity and Stock Based Compensation

Preferred Stock

In connection with the IPO, the Company’s amended and restated certificate of incorporation became effective, which authorized the issuance of 10,000,000 shares of undesignated preferred stock with a par value of $0.00001 per share with rights and preferences, including voting rights, designated from time to time by the board of directors.

Common Stock

The Company has two classes of common stock: Class A common stock and Class B common stock. In connection with the IPO, the Company’s amended and restated certificate of incorporation authorized the issuance of 1,000,000,000 shares of Class A common stock and 350,000,000 shares of Class B common stock. The shares of Class A common stock and Class B common stock are identical, except with respect to voting, conversion, and transfer rights. Each share of Class A common stock is entitled to one vote. Each share of Class B common stock is entitled to ten votes. Class A and Class B common stock have a par value of $0.00001 per share, and are referred to as common stock throughout these notes to the consolidated financial statements, unless otherwise noted. Holders of common stock are entitled to receive any dividends as may be declared from time to time by the board of directors.

Shares of Class B common stock may be converted to Class A common stock at any time at the option of the stockholder. Shares of Class B common stock automatically convert to Class A common stock upon the following: (1) sale or transfer of such share of Class B common stock, except for certain permitted transfers as described in our amended and restated certificate of incorporation; (2) the death of such Class B common stockholder (or nine months after the date of death if the stockholder is our founder); and (3) on the final conversion date, defined as the earlier of (a) the last trading day of the fiscal year following the seventh anniversary of the IPO; or (b) the date specified by a vote of the holders of a majority of the outstanding shares of Class B common stock, voting as a single class.

Shares of common stock reserved for future issuance were as follows (in thousands):


	December 31,
	2021	2020
Redeemable convertible preferred stock	—	153,938
2011 Stock Plan:
Options and RSUs outstanding	48,749	36,024
Shares reserved for future award issuances	—	9,981
2021 Equity Incentive Plan:
RSUs outstanding	429	—
Shares reserved for future award issuances	36,019	—
2021 Employee Stock Purchase Plan	6,500	—
Total shares of common stock reserved for issuance	91,697	199,943

Equity Incentive Plans

In 2011, the Company adopted the 2011 Stock Plan (the 2011 Plan) pursuant to which the Board may grant incentive stock options to purchase shares of the Company’s common stock, non-statutory stock options to purchase shares of the Company’s common stock, stock appreciation rights, restricted stock and RSUs. The 2011 Plan was terminated in September 2021 in connection with the IPO but continues to govern the terms of outstanding awards that were granted prior to its termination. With the establishment of the 2021 Equity Incentive Plan (the 2021 Plan) as further discussed below, upon the expiration, forfeiture, cancellation, or reacquisition of any shares of Class B common stock underlying outstanding stock-based awards granted under the 2011 Plan, an equal number of shares of Class A common stock will become available for grant under the 2021 Plan.

In August 2021, the Board adopted the 2021 Plan, which became effective upon the IPO. Upon adoption, the 2021 Plan began with a reserve of 35,000,000 shares of Class A common stock for future issuance, with (i) an automatic increase occurring on January 1 of each year by 5% of the aggregate number of shares of common stock of all classes issued and outstanding on December 31 of the preceding calendar year, or (ii) a lesser number of shares determined by the Board prior to January 1 of each year. The reserve is reduced by the number of shares granted, and increased by the number of shares subject to stock options or other stock awards that would have otherwise returned to the 2011 Plan, up to a maximum of 51,178,920 shares, as well as the net number of shares withheld from the release of RSUs. As of December 31, 2021, the Company has granted 431,886 shares from the 2021 Plan, and a total of 1,439,884 shares comprising of cancellations from the 2011 Plan and withholding of net shares recirculated back to the reserve, resulting in 36,018,956 shares available for future issuance.

2021 Employee Stock Purchase Plan

In August 2021, the Board adopted the ESPP, which became effective upon the Company’s IPO. Initially, 6,500,000 Class A shares of common stock have been reserved for future issuance under the ESPP, with an automatic increase to such reserve on January 1 of each year.

The price at which Class A common stock is purchased under the ESPP is equal to 85% of the fair market value of a share of the Company’s Class A common stock on the first or last day of the offering period, whichever is lower. The ESPP provides an offering period of 24 months, with four purchase periods that are generally six months long ending on May 15 and November 15 of each year, except for the first purchase period, which began upon the completion of the IPO on September 22, 2021 and will end on May 13, 2022, with contributions from employees beginning on October 1, 2021.

As of December 31, 2021, the Company has withheld $4.2 million of contributions from its employees, and no shares have been purchased under the ESPP.

During the year ended December 31, 2021, the Company recognized $3.5 million of stock-based compensation expense related to the ESPP.

Determination of Fair Value of the ESPP

The Company estimates the fair value of the ESPP using the Black-Scholes option-pricing model, which requires certain complex valuation assumption inputs such as expected term, expected stock price volatility, risk-free interest rate and dividend

yield. The fair value of each of the four purchase periods is estimated separately. The following table summarizes the range of valuation assumptions used in estimating the fair value of the ESPP during the period:


						Year Ended December 31,
Valuation Assumption Inputs						2021
Expected term (in years)						0.6 - 2.1
Stock price volatility						47.7% - 58.5%
Risk-free interest rate						0.06% - 0.29%
Dividend yield						0.00%

Expected term—The expected term is estimated based on the exercise term of the ESPP, which is the length of time from the grant date to the date on which the stock is purchased by the employees.

Stock price volatility—Since the Company's common stock lacks sufficient trading history, the stock price volatility over the expected term is estimated based on the average historical volatility of comparable companies with similar characteristics to those of the Company.

Risk-free interest rate—The risk-free interest rate is based on the yield of the U.S. Treasury debt securities commensurate with the expected term of the ESPP.

Dividend yield—Since the Company has never paid and has no intention to pay cash dividends on its common stock, the dividend yield is zero.

Fair value of underlying stock—The fair value of Company's common stock underlying the ESPP is determined by the closing market price of its Class A common stock on the date that the Company began withholding the contributions from its employees, which was October 1, 2021.

Stock Options

Stock options are granted with an exercise price equal to the stock’s fair market value at the date of grant, have 10-year contractual terms, and vest over a four-year period.

Stock option activity during the year ended December 31, 2021 is as follows (in thousands, except per share data):


Share Information:	Number of Shares	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (1)
Balance as of December 31, 2020	2,096	$	0.23	4.1	$	33,947
Stock options granted	—	$	—
Stock options exercised	(537)	$	0.18
Stock options cancelled / forfeited / expired	(211)	$	0.07
Balance as of December 31, 2021	1,348	$	0.27	3.6	$	35,020

(1)Aggregate intrinsic value for stock options represents the difference between the exercise price and the per share fair value of the Company’s common stock as of the end of the period, multiplied by the number of stock options outstanding, exercisable, or vested.

(2)The ending balance as of December 31, 2021 represents options that were fully vested and exercisable.

Total intrinsic value of options exercised during the years ended December 31, 2021, 2020, and 2019 was $14.0 million, $9.8 million, and $9.5 million, respectively.

Restricted Stock Units

RSUs are granted at fair market value at the date of the grant and vest over a four-year period.

RSU activity during the year ended December 31, 2021 is as follows (in thousands, except per share data):


Share Information:	Number of Shares	Weighted-Average Grant Date Fair Value
Unvested, as of December 31, 2020	33,928	$	5.41
Granted	26,808	$	22.02
Vested	(9,928)	$	5.17
Forfeited	(2,978)	$	9.81
Unvested, as of December 31, 2021	47,830	$	14.47

Performance-Based Awards

In May 2019, the Board approved a grant of 166,390 shares of performance-based RSUs (PRSUs) to the Company’s CEO. The vesting of these PRSUs is contingent upon the satisfaction of all three of the following: (i) the achievement of certain revenue related milestones on or before December 31, 2019, (ii) vesting over the requisite service period in accordance with the Plan, and (iii) a liquidity event. The revenue-related milestone was met as of December 31, 2019, and the liquidity event condition was met upon the completion of the IPO as described in Note 1—Initial Public Offering. As of December 31, 2021, the time-based vesting was the only condition yet to be satisfied over the remaining requisite service period, and the number of shares to vest subject to this condition is insignificant.

In September 2021, the Board approved a grant of 6,000,000 PRSUs to the Company's CEO with a time-based service condition beginning January 1, 2022, and a market condition involving five separate stock price targets ranging from $70.00 to $200.00 per share for each of the five vesting tranches (CEO Performance Award). These stock price targets will be measured based on the average closing price over a consecutive 60-trading day period, beginning on the first trading day after the expiration of the final lock-up period in February 2022. The vesting of the CEO Performance Award is contingent upon the completion of the requisite service through January 1, 2029 and the achievement of the specified stock price target in each tranche on or before January 1, 2029. The stock price targets are not required to be achieved within the service period of each tranche, and accordingly, multiple tranches can vest at the same date if the specified stock price targets are achieved after December 31, 2025. The CEO Performance Award had a total grant date fair value of $131.0 million.

The fair value of the CEO Performance Award was determined at grant date by using the Monte Carlo simulation model with the following valuation assumptions:


						Year Ended December 31,
Valuation Assumption Inputs						2021
Measurement period (in years)						7.0
Stock price volatility						60.0%
Risk-free interest rate						1.12%
Dividend yield						—%

Measurement period—This is the period over which simulated stock prices of the Company are used to evaluate the possibility of achieving the specified stock price targets (as described above).

Stock price volatility—Since the Company's common stock lacks sufficient trading history, the stock price volatility over the measurement period is estimated based on the average historical volatility of comparable companies with similar characteristics to those of the Company.

Risk-free interest rate—The risk-free interest rate is based on the yield of the U.S. Treasury debt securities commensurate with the measurement period.

Dividend yield—Since the Company has never paid and has no intention to pay cash dividends on its common stock, the dividend yield is zero.

Fair value of underlying stock—The fair value of Company's common stock underlying the CEO Performance Award on is based on an independent third-party valuation as there was no public market on the date of the grant.

For the year ended December 31, 2021, the Company recognized $9.0 million of stock-based compensation expense associated with performance-based awards described above, of which $8.4 million was related to the CEO Performance Award.

Stock-Based Compensation

For the year ended December 31, 2021, stock-based compensation expense of $173.4 million included a cumulative charge associated with certain RSUs for which the service-based vesting condition has been satisfied upon the completion of the liquidity event, as further described in Note 1—Initial Public Offering.

During the year ended December 31, 2020, stock-based compensation included expenses recognized from employee stock-based awards, and the excess value of $43.2 million paid to repurchase shares in a secondary transaction. The excess value was comprised of $10.8 million recorded in general and administrative expense for the repurchase of redeemable convertible preferred stock (as described in Note 10), and $32.4 million for the repurchases of shares of common stock from the Company’s founders and a number of employees, of which $16.5 million and $15.9 million were recorded in general and administrative expense and research and development, respectively.

Total stock-based compensation expense recorded for the years ended December 31, 2021, 2020, and 2019 was as follows (in thousands):


	Year Ended December 31,
	2021		2020		2019
Equity awards:
Cost of revenue	$	5,604	$	—	$	13
Research and development	45,162		8		151
Sales and marketing	53,169		7		104
General and administrative	69,508		29		5
Total employee awards	173,443		44		273
Secondary transaction	—		43,236		—
Stock-based compensation, net of amounts capitalized	173,443		43,280		273
Capitalized stock-based compensation	585		—		—
Total stock-based compensation expense	$	174,028	$	43,280	$	273

Stock-based compensation expense recorded to research and development in the consolidated statements of operations excludes amounts that were capitalized for internal-use software for the year ended December 31, 2021.

As of December 31, 2021, unrecognized stock-based compensation expense related to unvested stock-based awards was as follows (amount in thousands):


	December 31, 2021
		Unrecognized Stock-Based Compensation		Weighted-Average Period to Recognize Expense (in years)
RSUs		$	574,916	3.6
ESPP		19,928		1.2
Total unrecognized stock-based compensation expense		$	594,844

Net Loss Per Share

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Net Loss Per Share

Basic net loss per share attributable to common stockholders is computed by dividing the net loss by the number of weighted-average outstanding common shares. Diluted net loss per share attributable to common stockholders is determined by giving effect to all potential common equivalents during the reporting period, unless including them yields an antidilutive result. The Company considers its redeemable convertible preferred stock, stock options and restricted stock units as potential common equivalents, but excluded them from the computation of diluted net loss per share attributable to common stockholders in the periods presented, as their effect was antidilutive.

The rights, including the liquidation and dividend rights, of the holders of Class A and Class B common stock are identical, except with respect to voting, conversion, and transfer rights. As the liquidation and dividend rights are identical, the undistributed earnings are allocated on a proportionate basis to each class of common stock and the resulting basic and diluted

net loss per share attributable to common stockholders are the same for both Class A and Class B common stock on both an individual and combined basis.

The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders (in thousands, except per share data):


	Year Ended December 31,
	2021		2020		2019
Numerator:
Net loss	$	(191,995)	$	(57,294)	$	(31,125)
Accretion of redeemable convertible preferred stock	(2,646,662)		(1,560,524)		(553,339)
Deemed dividend distribution	—		—		(40,071)
Net loss attributable to Class A and Class B common stockholders - basic and diluted	$	(2,838,657)	$	(1,617,818)	$	(624,535)

Denominator:
Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders - basic and diluted	130,652		76,945		76,029
Net loss per share attributable to Class A and Class B common stockholders - basic and diluted	$	(21.73)	$	(21.03)	$	(8.21)

The following table summarizes the potential common equivalents that were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented (in thousands):


	Year Ended December 31,
	2021	2020	2019
Redeemable convertible preferred stock	—	153,938	153,938
Stock options	1,348	2,096	2,898
RSUs	47,830	33,928	22,602
ESPP	160	—	—
Total	49,338	189,962	179,438

Income Taxes

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Income Taxes

The Company’s net loss before provision for income taxes for the years ended December 31, 2021, 2020, and 2019 was as follows (in thousands):


	Year Ended December 31,
	2021		2020		2019
Domestic	$	(211,844)	$	(69,102)	$	(40,616)
Foreign	30,365		15,823		13,126
Total	$	(181,479)	$	(53,279)	$	(27,490)

The components of the provision for income taxes for the years ended December 31, 2021, 2020, and 2019 were as follows (in thousands):


	Year Ended December 31,
	2021		2020		2019
Current:
Domestic	$	2,876	$	(12)	$	11
Foreign	9,547		6,387		4,563
Deferred:
Domestic	—		—		(194)
Foreign	(1,907)		(2,360)		(745)
Total provision for income taxes	$	10,516	$	4,015	$	3,635

The following is a reconciliation of the federal statutory income tax rate to the Company’s effective tax rate for the years ended December 31, 2021, 2020, and 2019:


	Year Ended December 31,
	2021		2020		2019
Federal income tax	21.0	%	21.0	%	21.0	%
State taxes, net of federal benefit	—		—		3.2
Stock-based compensation	2.1		(17.1)		(0.2)
Change in valuation allowance	(25.4)		(11.8)		(32.8)
Earnings from foreign subsidiaries	(0.5)		(1.3)		(3.9)
Other items	(3.0)		1.6		(0.5)
Total provision for income taxes	(5.8)	%	(7.6)	%	(13.2)	%

The components of the Company’s net deferred tax assets as of December 31, 2021 and 2020, were as follows (in thousands):


	December 31,
	2021		2020
Deferred tax assets:
Net operating loss carryforwards	$	78,077	$	36,702
Foreign tax credit carryforwards	4,955		4,955
Stock-based compensation	9,643		—
Accruals and Reserves	6,584		5,433
Depreciation and amortization	1,633		354
Allowance for uncollectible accounts	66		1,383
Total deferred tax assets	100,958		48,827
Less: valuation allowance	(89,903)		(41,111)
Deferred tax assets, net of valuation allowance	11,055		7,716
Deferred tax liabilities:
Commissions	(4,771)		(3,323)
Net deferred tax assets	$	6,284	$	4,393

The Company regularly reviews its deferred tax assets for recoverability based on historical taxable income, projected future taxable income, the expected timing of the reversals of existing taxable temporary differences and tax planning strategies. The Company’s judgment regarding future profitability may change due to many factors, including future market conditions and the ability to successfully execute the business plans and/or tax planning strategies. Should there be a change in the ability to recover deferred tax assets, the Company’s income tax provision would increase or decrease in the period in which the assessment is changed. The Company’s valuation allowance increased by $48.8 million and $9.0 million during the years ended December 31, 2021 and 2020, respectively.

The Company has not provided U.S. income taxes and foreign withholding taxes on undistributed earnings of foreign subsidiaries because the Company intends to permanently reinvest such earnings outside the U.S.

Net Operating Loss and Credit Carryforwards

As of December 31, 2021, the Company has U.S. federal net operating loss carryforwards of approximately $345.7 million, of which $10.7 million are subject to limitation under Internal Revenue Code Section 382 (IRC Section 382). The net operating loss carryforwards for all the states in the United States is $94.0 million as of December 31, 2021. The federal net operating loss carryforwards that were generated prior to the 2018 tax year will begin to expire in 2030 if not utilized. For net operating loss carryforwards arising in tax years beginning after December 31, 2017, the Tax Act limits the Company’s ability to utilize carryforwards to 80% of taxable income, however, these operating losses may be carried forward indefinitely. The state net operating loss carryforwards will begin to expire in 2032 if not utilized. The Company has foreign tax credits of $5.0 million that will expire in 2027 if not utilized.

Utilization of the net operating loss carryforwards may be subject to a substantial annual limitation due to the ownership change provisions of IRC Section 382 and similar state provisions. The annual limitation may result in the inability to fully

offset future annual taxable income and could result in the expiration of net operating loss carryforwards before utilization. The Company continually reviews the impact to net operating losses of any ownership changes.

Unrecognized Tax Benefits

The Company has adopted authoritative guidance which prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of uncertain tax positions taken or expected to be taken in the Company’s income tax return, and also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition.

The Company recognizes financial statement benefit of a tax position only after determining that the relevant tax authority would more-likely-than-not sustain the position following an audit. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the consolidated financial statements is the largest benefit that has no likelihood of being realized upon ultimate settlement with the relevant tax authority. As of December 31, 2021, the Company had gross unrecognized tax benefits of $2.2 million, all of which would affect income tax expense, if recognized, after consideration of valuation allowance. The Company did not have any unrecognized tax benefits with a significant impact on its financial statements as of December 31, 2020 and 2019.

The following table presents a reconciliation of the beginning and ending amount of the unrecognized tax benefits (in thousands):


	Year Ended December 31,
	2021
Unrecognized gross tax benefits at the beginning of the period	$	—
Increases related to prior year tax positions	1,269
Decreases related to prior year tax positions	—
Reversal of prior year unrecognized tax benefits	—
Increases in current year unrecognized benefits	958
Unrecognized gross tax benefits at the end of the period	$	2,227

The Company recognizes interest and penalties related to income tax matters as a component of income tax expense. Accrued interest of $0.5 million has been recorded as of December 31, 2021.

The Company's major tax jurisdictions are India and the U.S. and also files income tax returns in other various U.S. states and international jurisdictions. Carryover attributes beginning December 31, 2008, remain open to adjustment by the United States and state authorities. The U.S. federal, state, and foreign jurisdictions have statutes of limitations that generally range from three to five years. Due to the Company’s net losses, substantially all of its federal and state income tax returns are subject to examination for federal and state purposes since inception. As of December 31, 2021, Freshworks Inc., Freshworks India and Freshworks, GmbH are currently under examinations in India and Germany. The Company believes that it has provided adequate reserves for its income tax uncertainties in all open tax years. As the outcome of the Company's tax audits are resolved in a manner inconsistent with management's expectations, the Company could adjust its provision for income taxes in the future.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

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+ Details

Geographic Information

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Geographic Information

The following table summarizes revenue by geographic location (in thousands):


	Year Ended December 31,
	2021		2020		2019
North America	$	160,224	$	111,644	$	79,805
Europe, Middle East and Africa	152,542		98,992		65,038
Asia Pacific	49,933		33,445		23,528
Other	8,323		5,578		4,006
Total revenue	$	371,022	$	249,659	$	172,377

The following table summarizes long-lived assets by geographic information (in thousands):


	December 31,
	2021		2020
North America	$	13,780	$	16,796
Europe, Middle East and Africa	578		606
Asia Pacific	9,015		9,605
Total long-lived assets	$	23,373	$	27,007

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsOn February 14, 2022, the final lock-up period following the IPO expired, and the Company issued an aggregate of 9.3 million shares of its common stock, net of shares withheld for taxes, as settlement of all RSUs that had met time-based service condition.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Basis of Presentation and Principles of Consolidation

Foreign Currency Remeasurement and Transactions

Foreign Currency Remeasurement and TransactionsThe functional currency of the Company’s foreign subsidiaries is the U.S. dollar. Accordingly, each foreign subsidiary remeasures monetary assets and liabilities at period-end exchange rates, while non-monetary items are remeasured at historical rates. Revenues and expenses are remeasured at the exchange rates in effect on the day the transaction occurred, except for those expenses related to non-monetary assets and liabilities, which are remeasured at historical exchange rates.

Use of Estimates

•determination of standalone selling price (SSP) for each distinct performance obligation included in customer contracts with multiple performance obligations;

•allowance for doubtful accounts;

•expected benefit period of deferred contract acquisition costs;

•capitalization of internal-use software development costs;

•fair value of acquired intangible assets and goodwill;

•useful lives of long-lived assets;

•valuation of deferred tax assets;

•valuation of employee defined benefit plan; and

•fair value of share-based awards, including performance-based awards.

Segment Information

Revenue Recognition, Cost of Revenue and Deferred Revenue

Revenue Recognition

Company lacks visibility into the pricing provided by the reseller to the end customer, reseller revenue is recorded net of any reseller margin.

Subscription Revenue

Professional Services Revenue

Customers with Multiple Performance Obligations

Cost of Revenue

Deferred Revenue

Research and Development

Research and DevelopmentResearch and development costs are expensed as incurred and consist primarily of personnel-related expenses (primarily including salaries, related benefits, and stock-based compensation) for the Company’s product development employees. Research and development expenses also include non-personnel-related expenses such as third-party services for product development and consulting expenses, depreciation expense related to equipment used in research and development activities, and allocation of the Company’s general overhead expenses.

Advertising Cost

Advertising CostsAdvertising costs are charged to sales and marketing expense in the consolidated statements of operations as incurred.

Stock-Based Compensation

determine the fair value of the option awards represent the Company's best estimates. These estimates involve inherent uncertainties and the application of the Company's judgement.

Income Taxes

The Company recognizes interest and penalties related to income tax matters as a component of income tax expense.

Cash and Cash Equivalents

Cash and Cash EquivalentsCash and cash equivalents consist of deposits held at financial institutions, money market funds, as well as highly liquid investments with an original maturity of three months or less when purchased. Cash and cash equivalents are recorded at cost, which approximates fair value.

Marketable Securities

Non-Marketable Equity Securities

Non-Marketable Equity SecuritiesThe Company owns interests in non-marketable equity investments, which consist of minority equity interests in privately held companies. The Company does not have significant influence over these investments, which do not have readily determinable fair values. Under ASU 2016-01, the Company has elected the measurement alternative to carry them at cost, less any impairment charges.

Accounts Receivable and Allowance for Doubtful Accounts

Accounts Receivable and Allowance for Doubtful AccountsTrade accounts receivable are recorded at the invoiced amount, net of allowance for doubtful accounts. The allowance is based on the Company’s assessment of the collectability of accounts and is recorded as an offset to revenue and deferred revenue. The Company regularly reviews the adequacy of the allowance by considering the age of each outstanding invoice and the collection history.

Concentrations of Credit Risk

Concentrations of Credit RiskFinancial instruments that potentially expose the Company to significant concentration of credit risk consist primarily of cash, cash equivalents, marketable securities, and accounts receivable. The Company’s cash and cash equivalents and marketable securities are generally held with large financial institutions and are in excess of the federally insured limits provided on such deposits. In addition, the Company has cash and cash equivalents held in international bank accounts, which are denominated primarily in Euros, British Pounds, Indian Rupees, and Australian Dollars.

Deferred Contract Acquisition Costs

Property and Equipment, net


			Estimated Useful Life
Computers			3 years
Capitalized internal-use software			3 years
Office equipment, furniture and fixtures			5 years
Motor vehicles			5 years
Leasehold improvements			Lesser of lease term or 5 years

Expenditures for maintenance and repairs are charged to expense as incurred.

Capitalized Internal-Use Software

Business Combinations

Long-Lived Assets (Including Goodwill and Intangible Assets)

Goodwill

Comprehensive Loss

Net Loss per Share Attributable to Common Stockholders

Defined Benefit Plan

Leases

Recent Accounting Pronouncements

New accounting pronouncements are issued by the Financial Accounting Standards Board (FASB) under its ASC or ASU and adopted by the Company as of the specified effective date.

Recently Adopted Accounting Pronouncements

Accounting Pronouncements Not Yet Adopted

Fair Value Measurements

Level 1—Inputs are observable and reflect quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date.

Level 2—Inputs other than quoted prices included within Level 1 that are observable, either directly or indirectly.

Level 3—Inputs that are unobservable.

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Useful Lives of Property, Plant and Equipment

Depreciation is calculated using the straight-line method over the estimated useful lives of the respective assets as follows:


			Estimated Useful Life
Computers			3 years
Capitalized internal-use software			3 years
Office equipment, furniture and fixtures			5 years
Motor vehicles			5 years
Leasehold improvements			Lesser of lease term or 5 years

The following table summarizes property and equipment, net as of December 31, 2021 and 2020 (in thousands):


	December 31,
	2021		2020
Computers	$	13,041	$	9,249
Capitalized internal-use software	14,178		10,041
Office equipment	3,375		2,770
Furniture and fixtures	8,395		9,472
Motor vehicles	1,421		2,423
Leasehold improvements	4,274		4,274
Construction in progress	—		322
Total property and equipment	44,684		38,551
Less: accumulated depreciation and amortization	(23,206)		(17,767)
Property and equipment, net	$	21,478	$	20,784

Schedule of Unrealized Gains or Losses Within Accumulated Other Comprehensive Income (Loss)

The following tables shows the change in unrealized gains or losses within accumulated other comprehensive (loss) income:


	December 31,
	2021		2020		2019
Beginning balance	$	411	$	139	$	1,141
Add: Unrealized (losses) gains on available-for-sale debt securities	(1,152)		405		—
Less: Adjustment for the adoption of ASU 2016-01	—		—		(981)
Less: Reclassification of unrealized gains to interest and other income, net, in the consolidated statements of operations	(6)		(133)		(21)
Net impact to other comprehensive (loss) income in current period	(1,158)		272		(1,002)
Ending balance	$	(747)	$	411	$	139

Revenue from Contracts with Customers (Tables)

12 Months Ended

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenues

The following table summarizes revenue by the Company’s service offerings (in thousands):


	Year Ended December 31,
	2021		2020		2019
Subscription services	$	360,506	$	242,879	$	168,682
Professional services	10,516		6,780		3,695
Total revenue	$	371,022	$	249,659	$	172,377

Deferred Revenue and Remaining Performance Obligations


	December 31,
	2021		2020		2019
Balance at beginning of the year	$	104,184	$	67,540	$	39,739
Add: Billings during the year	427,011		286,303		200,178
Less: Revenue recognized during the year	(371,022)		(249,659)		(172,377)
Balance at end of the year	$	160,173	$	104,184	$	67,540

Deferred Contract Acquisition Costs

The change in the balance of deferred contract acquisition costs during the periods presented is as follows (in thousands):


	December 31,
	2021		2020		2019
Balance at beginning of the year	$	18,273	$	11,610	$	6,069
Add: Contract costs capitalized during the year	24,218		14,344		9,579
Less: Amortization of contract costs during the year	(12,844)		(7,681)		(4,038)
Balance at end of the year	$	29,647	$	18,273	$	11,610

Cash Equivalents and Marketable Securities (Tables)

12 Months Ended

Dec. 31, 2021

Investments, Debt and Equity Securities [Abstract]

Schedule of Carrying Amounts and Fair Values of Debt Securities

Cash equivalents and available-for-sale debt securities consisted of the following as of December 31, 2021 and 2020 (in thousands):


	December 31, 2021
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Cash equivalents:
Money market funds	$	684,485	$	—	$	—	$	684,485
U.S. treasury securities	22,000		—		—		22,000
U.S. government agency securities	4,286		—		(1)		4,285
Corporate debt securities	15,998		—		—		15,998
Total cash equivalents	726,769		—		(1)		726,768
Debt securities:
U.S. treasury securities	442,715		2		(432)		442,285
U.S. government agency securities	75,725		—		(159)		75,566
Corporate debt securities	54,335		17		(175)		54,177
Total debt securities	572,775		19		(766)		572,028
Total cash equivalents and debt securities	$	1,299,544	$	19	$	(767)	$	1,298,796


	December 31, 2020
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Cash equivalents:
Money market funds	$	56,474	$	—	$	—	$	56,474
Debt Securities:
U.S. treasury securities	50,087		136		—		50,223
Corporate debt securities	85,413		265		(5)		85,673
Asset-backed securities	3,247		15		—		3,262
Total debt securities	138,747		416		(5)		139,158
Total cash equivalents and debt securities	$	195,221	$	416	$	(5)	$	195,632

Schedule of Amortized Costs and Fair Value of Debt Securities Based on Contractual Maturities

The amortized cost and fair value of the available-for-sale debt securities based on contractual maturities are as follows (in thousands):


	December 31, 2021
	Amortized Cost		Fair Value
Due within one year	$	392,629	$	392,412
Due after one year but within five years	180,146		179,616
Total	$	572,775	$	572,028

Summary of Realized and Unrealized Gains

The following table summarizes the realized and unrealized gains recognized in the consolidated

statements of operations for the term bond mutual funds during the years ended December 31, 2021, 2020, and 2019 (in thousands):


	Year Ended December 31,
	2021		2020		2019
Net gains recognized on marketable equity investments	$	132	$	107	$	582
Less: Net gains recognized on sale of marketable equity investments	—		—		(316)
Unrealized gains at the end of the period	$	132	$	107	$	266

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis


	December 31, 2021
	Fair Value Measured Using
	Level 1		Level 2		Level 3		Total
Financial assets:
Cash equivalents:
Money market funds	$	684,485	$	—	$	—	$	684,485
U.S. treasury securities	22,000		—		—		22,000
U.S. government agency securities	—		4,285		—		4,285
Corporate debt securities	—		15,998		—		15,998
Marketable securities:
U.S. treasury securities	442,285		—		—		442,285
U.S. government agency securities	—		75,566		—		75,566
Corporate debt securities	—		54,177		—		54,177
Term bond mutual funds	—		3,651		—		3,651
Total financial assets	$	1,148,770	$	153,677	$	—	$	1,302,447
Financial liabilities:
Acquisition-related contingent consideration	$	—	$	—	$	800	$	800


	December 31, 2020
	Fair Value Measured Using
	Level 1		Level 2		Level 3		Total
Financial assets:
Cash equivalents:
Money market funds	$	56,474	$	—	$	—	$	56,474
Marketable securities:
U.S. treasury securities	50,223		—		—		50,223
Corporate debt securities	—		85,673		—		85,673
Asset-backed securities	—		3,262		—		3,262
Term bond mutual funds	—		3,575		—		3,575
Total financial assets	$	106,697	$	92,510	$	—	$	199,207
Financial liabilities:
Acquisition-related contingent consideration	$	—	$	—	$	775	$	775

Contingent Consideration Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The following table represents a reconciliation of the contingent consideration liability measured at fair value on a recurring basis, using Level 3 significant unobservable inputs (in thousands):


	December 31,
	2021		2020
Beginning balance	$	775	$	1,950
Additions during the period	—		—
Payments during the period	—		(1,200)
Change in estimated fair value	25		25
Ending balance	$	800	$	775

Balance Sheet Components (Tables)

12 Months Ended

Dec. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Property, Plant and Equipment

Depreciation is calculated using the straight-line method over the estimated useful lives of the respective assets as follows:


			Estimated Useful Life
Computers			3 years
Capitalized internal-use software			3 years
Office equipment, furniture and fixtures			5 years
Motor vehicles			5 years
Leasehold improvements			Lesser of lease term or 5 years

The following table summarizes property and equipment, net as of December 31, 2021 and 2020 (in thousands):


	December 31,
	2021		2020
Computers	$	13,041	$	9,249
Capitalized internal-use software	14,178		10,041
Office equipment	3,375		2,770
Furniture and fixtures	8,395		9,472
Motor vehicles	1,421		2,423
Leasehold improvements	4,274		4,274
Construction in progress	—		322
Total property and equipment	44,684		38,551
Less: accumulated depreciation and amortization	(23,206)		(17,767)
Property and equipment, net	$	21,478	$	20,784

Schedule of Accrued Liabilities

The following table summarizes accrued liabilities as of December 31, 2021 and 2020 (in thousands):


	December 31,
	2021		2020
Accrued compensation	$	17,261	$	8,983
Acquisition-related liabilities	800		1,942
Accrued third-party cloud infrastructure expenses	2,785		1,572
Accrued reseller commissions	5,870		3,999
Accrued advertising and marketing expenses	6,022		2,412
Advanced payments from customers	3,260		2,815
Accrued taxes	10,777		8,645
Other accrued expenses	9,054		5,240
Total accrued liabilities	$	55,829	$	35,608

Goodwill and Intangible Assets, Net (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Finite-Lived Intangible Assets


	December 31, 2021
	Gross Amount		Accumulated Amortization		Net Carrying Value		Weighted Average Remaining Useful Life
							(in years)
Developed technology	$	10,496	$	(9,147)	$	1,349	0.9
Customer relationships	1,600		(1,055)		545		1.4
Total	$	12,096	$	(10,202)	$	1,894


	December 31, 2020
	Gross Amount		Accumulated Amortization		Net Carrying Value		Weighted Average Remaining Useful Life
							(in years)
Developed technology	$	10,496	$	(5,218)	$	5,278	1.5
Customer relationships	1,600		(655)		945		2.4
Total	$	12,096	$	(5,873)	$	6,223

Summary of Estimated Future Amortization Expense

Expected future amortization expense related to acquired intangible assets is as follows (in thousands):


Year Ending December 31,	Amortization Expense
2022	$	1,591
2023	303
Total	$	1,894

Commitment and Contingencies (Tables)

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Schedule of Future Minimum Lease Payments Under Non-cancelable Operating Leases

Future minimum lease payments under non-cancelable operating leases as of December 31, 2021, are as follows (in thousands):


Year ending December 31,	Operating Leases
2022	$	6,954
2023	6,790
2024	6,642
2025	5,976
2026	3,579
Thereafter	4,304
Total minimum future payments	$	34,245

Schedule of Future Minimum Payments Under the Company’s Non-cancelable Purchase Commitments

Future minimum payments under the Company’s non-cancelable purchase commitments as of December 31, 2021 are presented in the table below (in thousands):


Year ending December 31,	Contractual Commitments
2022	$	26,953
2023	22,958
2024	1,658
Total	$	51,569

Redeemable Convertible Preferred Stock (Tables)

12 Months Ended

Dec. 31, 2021

Temporary Equity Disclosure [Abstract]

Summary of Redeemable Convertible Preferred Stock

The following table summarizes the Company’s redeemable convertible preferred stock as of December 31, 2020 (in thousands, except per share amounts):


	December 31, 2020
	Shares Authorized	Shares Outstanding	Original Issue Price		Liquidation Preference		Carrying Value

Series A	21,428	21,311	$	0.05	$	1,059	$	397,172
Series B	36,229	36,229	0.14		5,000		675,223
Series C	15,307	15,307	0.46		7,000		285,280
Series D	30,663	30,663	1.01		31,000		571,476
Series E	21,292	21,292	2.35		50,000		396,927
Series F	8,709	8,709	3.16		27,500		162,439
Series G	9,151	9,151	6.01		55,000		172,344
Series H	11,276	11,276	13.30		150,000		234,235
Total	154,055	153,938			$	326,559	$	2,895,096

Stockholders' Equity and Stock Based Compensation (Tables)

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Summary Of Common Shares Reserved For Future Issuance

Shares of common stock reserved for future issuance were as follows (in thousands):


	December 31,
	2021	2020
Redeemable convertible preferred stock	—	153,938
2011 Stock Plan:
Options and RSUs outstanding	48,749	36,024
Shares reserved for future award issuances	—	9,981
2021 Equity Incentive Plan:
RSUs outstanding	429	—
Shares reserved for future award issuances	36,019	—
2021 Employee Stock Purchase Plan	6,500	—
Total shares of common stock reserved for issuance	91,697	199,943

Summary of Valuation Assumptions

The fair value of each of the four purchase periods is estimated separately. The following table summarizes the range of valuation assumptions used in estimating the fair value of the ESPP during the period:


						Year Ended December 31,
Valuation Assumption Inputs						2021
Expected term (in years)						0.6 - 2.1
Stock price volatility						47.7% - 58.5%
Risk-free interest rate						0.06% - 0.29%
Dividend yield						0.00%

Schedule of Stock Option Activity

Stock option activity during the year ended December 31, 2021 is as follows (in thousands, except per share data):


Share Information:	Number of Shares	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (1)
Balance as of December 31, 2020	2,096	$	0.23	4.1	$	33,947
Stock options granted	—	$	—
Stock options exercised	(537)	$	0.18
Stock options cancelled / forfeited / expired	(211)	$	0.07
Balance as of December 31, 2021	1,348	$	0.27	3.6	$	35,020

(2)The ending balance as of December 31, 2021 represents options that were fully vested and exercisable.

Schedule of Restricted Stock Unit Activity

RSU activity during the year ended December 31, 2021 is as follows (in thousands, except per share data):


Share Information:	Number of Shares	Weighted-Average Grant Date Fair Value
Unvested, as of December 31, 2020	33,928	$	5.41
Granted	26,808	$	22.02
Vested	(9,928)	$	5.17
Forfeited	(2,978)	$	9.81
Unvested, as of December 31, 2021	47,830	$	14.47

Summary of Valuation Assumptions, CEO Performance Award

The fair value of the CEO Performance Award was determined at grant date by using the Monte Carlo simulation model with the following valuation assumptions:


						Year Ended December 31,
Valuation Assumption Inputs						2021
Measurement period (in years)						7.0
Stock price volatility						60.0%
Risk-free interest rate						1.12%
Dividend yield						—%

Stock-based Compensation Expense

Total stock-based compensation expense recorded for the years ended December 31, 2021, 2020, and 2019 was as follows (in thousands):


	Year Ended December 31,
	2021		2020		2019
Equity awards:
Cost of revenue	$	5,604	$	—	$	13
Research and development	45,162		8		151
Sales and marketing	53,169		7		104
General and administrative	69,508		29		5
Total employee awards	173,443		44		273
Secondary transaction	—		43,236		—
Stock-based compensation, net of amounts capitalized	173,443		43,280		273
Capitalized stock-based compensation	585		—		—
Total stock-based compensation expense	$	174,028	$	43,280	$	273

Schedule of Unrecognized Expense

As of December 31, 2021, unrecognized stock-based compensation expense related to unvested stock-based awards was as follows (amount in thousands):


	December 31, 2021
		Unrecognized Stock-Based Compensation		Weighted-Average Period to Recognize Expense (in years)
RSUs		$	574,916	3.6
ESPP		19,928		1.2
Total unrecognized stock-based compensation expense		$	594,844

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

+ References

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+ Details

Net Loss Per Share (Tables)

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders (in thousands, except per share data):


	Year Ended December 31,
	2021		2020		2019
Numerator:
Net loss	$	(191,995)	$	(57,294)	$	(31,125)
Accretion of redeemable convertible preferred stock	(2,646,662)		(1,560,524)		(553,339)
Deemed dividend distribution	—		—		(40,071)
Net loss attributable to Class A and Class B common stockholders - basic and diluted	$	(2,838,657)	$	(1,617,818)	$	(624,535)

Denominator:
Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders - basic and diluted	130,652		76,945		76,029
Net loss per share attributable to Class A and Class B common stockholders - basic and diluted	$	(21.73)	$	(21.03)	$	(8.21)

Schedule of Potential Common Equivalents Excluded from Computation of Diluted Net Loss per Share


	Year Ended December 31,
	2021	2020	2019
Redeemable convertible preferred stock	—	153,938	153,938
Stock options	1,348	2,096	2,898
RSUs	47,830	33,928	22,602
ESPP	160	—	—
Total	49,338	189,962	179,438

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

The Company’s net loss before provision for income taxes for the years ended December 31, 2021, 2020, and 2019 was as follows (in thousands):


	Year Ended December 31,
	2021		2020		2019
Domestic	$	(211,844)	$	(69,102)	$	(40,616)
Foreign	30,365		15,823		13,126
Total	$	(181,479)	$	(53,279)	$	(27,490)

Schedule of Components of the Provision for Income Taxes

The components of the provision for income taxes for the years ended December 31, 2021, 2020, and 2019 were as follows (in thousands):


	Year Ended December 31,
	2021		2020		2019
Current:
Domestic	$	2,876	$	(12)	$	11
Foreign	9,547		6,387		4,563
Deferred:
Domestic	—		—		(194)
Foreign	(1,907)		(2,360)		(745)
Total provision for income taxes	$	10,516	$	4,015	$	3,635

Schedule of Effective Income Tax Rate Reconciliation

The following is a reconciliation of the federal statutory income tax rate to the Company’s effective tax rate for the years ended December 31, 2021, 2020, and 2019:


	Year Ended December 31,
	2021		2020		2019
Federal income tax	21.0	%	21.0	%	21.0	%
State taxes, net of federal benefit	—		—		3.2
Stock-based compensation	2.1		(17.1)		(0.2)
Change in valuation allowance	(25.4)		(11.8)		(32.8)
Earnings from foreign subsidiaries	(0.5)		(1.3)		(3.9)
Other items	(3.0)		1.6		(0.5)
Total provision for income taxes	(5.8)	%	(7.6)	%	(13.2)	%

Schedule of Deferred Tax Assets and Liabilities

The components of the Company’s net deferred tax assets as of December 31, 2021 and 2020, were as follows (in thousands):


	December 31,
	2021		2020
Deferred tax assets:
Net operating loss carryforwards	$	78,077	$	36,702
Foreign tax credit carryforwards	4,955		4,955
Stock-based compensation	9,643		—
Accruals and Reserves	6,584		5,433
Depreciation and amortization	1,633		354
Allowance for uncollectible accounts	66		1,383
Total deferred tax assets	100,958		48,827
Less: valuation allowance	(89,903)		(41,111)
Deferred tax assets, net of valuation allowance	11,055		7,716
Deferred tax liabilities:
Commissions	(4,771)		(3,323)
Net deferred tax assets	$	6,284	$	4,393

Schedule of Unrecognized Tax Benefits

The following table presents a reconciliation of the beginning and ending amount of the unrecognized tax benefits (in thousands):


	Year Ended December 31,
	2021
Unrecognized gross tax benefits at the beginning of the period	$	—
Increases related to prior year tax positions	1,269
Decreases related to prior year tax positions	—
Reversal of prior year unrecognized tax benefits	—
Increases in current year unrecognized benefits	958
Unrecognized gross tax benefits at the end of the period	$	2,227

Geographic Information (Tables)

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Schedule of Revenue and Long-Lived Assets by Geographical Region

The following table summarizes revenue by geographic location (in thousands):


	Year Ended December 31,
	2021		2020		2019
North America	$	160,224	$	111,644	$	79,805
Europe, Middle East and Africa	152,542		98,992		65,038
Asia Pacific	49,933		33,445		23,528
Other	8,323		5,578		4,006
Total revenue	$	371,022	$	249,659	$	172,377

The following table summarizes long-lived assets by geographic information (in thousands):


	December 31,
	2021		2020
North America	$	13,780	$	16,796
Europe, Middle East and Africa	578		606
Asia Pacific	9,015		9,605
Total long-lived assets	$	23,373	$	27,007

Description of Business (Details) $ / shares in Units, $ in Thousands		1 Months Ended	12 Months Ended
	Nov. 04, 2021 shares	Sep. 30, 2021 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) shares	Dec. 31, 2020 USD ($) shares	Dec. 31, 2019 USD ($) shares	Dec. 31, 2018 shares
Sale of Stock [Line Items]
Proceeds from initial public offering, net of underwriting discounts \| $		$ 1,100,000	$ 1,069,348	$ 0	$ 0
Deferred offering costs reclassified to stockholders' equity (deficit) \| $			$ 7,300
Common stock, conversion ratio		100.00%
Redeemable convertible preferred stock, outstanding (in shares)			0	153,937,730	153,938,000	142,662,000
Redeemable convertible preferred stock, issued (in shares)			0	153,937,730
Number of shares issued in conversion (in shares)		1	1
Number of shares issued for each vested RSU (in shares)		1
Stock split ratio, common stock		10
RSUs
Sale of Stock [Line Items]
Number of shares issued in lockup agreement (in shares)	9,900,000
IPO
Sale of Stock [Line Items]
Public offering price (in USD per share) \| $ / shares		$ 36.00
IPO \| Class A Common Stock
Sale of Stock [Line Items]
Number of shares issued and sold (in shares)		31,350,000
Over-Allotment Option
Sale of Stock [Line Items]
Number of shares issued and sold (in shares)		2,850,000

Summary of Significant Accounting Policies - Narrative (Details)		12 Months Ended
	Sep. 21, 2021 USD ($)	Dec. 31, 2021 USD ($) segment	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Jan. 01, 2022 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of operating segments \| segment		1
Advertising costs		$ 41,200,000	$ 31,100,000	$ 31,300,000
Stock-based compensation expense			43,280,000	273,000
Impairment on marketable securities		0	0	0
Allowance for doubtful accounts		6,000,000	6,400,000
Impairment loss on incremental selling costs capitalized		0	0	0
Impairment of goodwill		0	0	$ 0
Plan benefit obligation		$ 7,400,000	$ 5,600,000
Accounting Standards Update 2016-02 \| Minimum \| Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
ROU assets					$ 23,000,000
Operating lease liability					28,000,000
Accounting Standards Update 2016-02 \| Maximum \| Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
ROU assets					25,000,000
Operating lease liability					$ 30,000,000
Capitalized internal-use software
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated useful life		3 years
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 0	$ 173,443,000

Summary of Significant Accounting Policies - Property and Equipment (Details)	12 Months Ended
	Dec. 31, 2021
Computers
Property, Plant and Equipment [Line Items]
Estimated Useful Life	3 years
Capitalized internal-use software
Property, Plant and Equipment [Line Items]
Estimated Useful Life	3 years
Office equipment, furniture and fixtures
Property, Plant and Equipment [Line Items]
Estimated Useful Life	5 years
Motor vehicles
Property, Plant and Equipment [Line Items]
Estimated Useful Life	5 years
Leasehold improvements
Property, Plant and Equipment [Line Items]
Estimated Useful Life	5 years

Summary of Significant Accounting Policies - Change in Unrealized Gains or Losses Within Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Change in Unrealized Gains or Losses Within Accumulated Other Comprehensive Income [Roll Forward]
Beginning balance	$ (2,696,741)	$ (1,122,721)	$ (539,198)
Adjustment for the adoption of ASU 2016-01	0	0	(981)
Ending balance	1,238,039	(2,696,741)	(1,122,721)
Accumulated Other Comprehensive Income
Change in Unrealized Gains or Losses Within Accumulated Other Comprehensive Income [Roll Forward]
Beginning balance	411	139	1,141
Add: Unrealized (losses) gains on available-for-sale debt securities	(1,152)	405	0
Adjustment for the adoption of ASU 2016-01	0	0	(981)
Less: Reclassification of unrealized gains to interest and other income, net, in the consolidated statements of operations	(6)	(133)	(21)
Net impact to other comprehensive (loss) income in current period	(1,158)	272	(1,002)
Ending balance	$ (747)	$ 411	$ 139

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

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+ Details

Revenue from Contracts with Customers - Disaggregation of Revenues (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Revenue	$ 371,022	$ 249,659	$ 172,377
Subscription services
Disaggregation of Revenue [Line Items]
Revenue	360,506	242,879	168,682
Professional services
Disaggregation of Revenue [Line Items]
Revenue	$ 10,516	$ 6,780	$ 3,695

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Revenue from Contracts with Customers - Changes in the Balance of Deferred Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Changes in the Balance of Deferred Revenue [Roll Forward]
Balance at beginning of the year	$ 104,184	$ 67,540	$ 39,739
Add: Billings during the year	427,011	286,303	200,178
Less: Revenue recognized during the year	(371,022)	(249,659)	(172,377)
Balance at end of the year	$ 160,173	$ 104,184	$ 67,540

Revenue from Contracts with Customers - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue recognized during the period	$ 103.8	$ 67.5	$ 39.7
Remaining performance obligation	230.8
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 178.4
Remaining performance obligation, expected timing of satisfaction, period	12 months

Revenue from Contracts with Customers - Deferred Contract Acquisition Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Change in Deferred Contract Acquisition Costs [Roll Forward]
Balance at beginning of the year	$ 18,273	$ 11,610	$ 6,069
Add: Contract costs capitalized during the year	24,218	14,344	9,579
Less: Amortization of contract costs during the year	(12,844)	(7,681)	(4,038)
Balance at end of the year	$ 29,647	$ 18,273	$ 11,610

Cash Equivalents and Marketable Securities - Schedule of Carrying Amounts and Fair Values of Debt Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 1,299,544	$ 195,221
Unrealized Gains	19	416
Unrealized Losses	(767)	(5)
Fair Value	1,298,796	195,632
Cash equivalents
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	726,769
Unrealized Gains	0
Unrealized Losses	(1)
Fair Value	726,768
Cash equivalents \| Money market funds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	684,485	56,474
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Value	684,485	56,474
Cash equivalents \| U.S. treasury securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	22,000
Unrealized Gains	0
Unrealized Losses	0
Fair Value	22,000
Cash equivalents \| U.S. government agency securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	4,286
Unrealized Gains	0
Unrealized Losses	(1)
Fair Value	4,285
Cash equivalents \| Corporate debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	15,998
Unrealized Gains	0
Unrealized Losses	0
Fair Value	15,998
Debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	572,775	138,747
Unrealized Gains	19	416
Unrealized Losses	(766)	(5)
Fair Value	572,028	139,158
Debt securities \| U.S. treasury securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	442,715	50,087
Unrealized Gains	2	136
Unrealized Losses	(432)	0
Fair Value	442,285	50,223
Debt securities \| U.S. government agency securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	75,725
Unrealized Gains	0
Unrealized Losses	(159)
Fair Value	75,566
Debt securities \| Corporate debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	54,335	85,413
Unrealized Gains	17	265
Unrealized Losses	(175)	(5)
Fair Value	$ 54,177	85,673
Debt securities \| Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		3,247
Unrealized Gains		15
Unrealized Losses		0
Fair Value		$ 3,262

Cash Equivalents and Marketable Securities - Amortized Cost and Fair Value Based on Contractual Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Amortized Cost
Amortized Cost	$ 1,299,544	$ 195,221
Fair Value
Fair Value	1,298,796	195,632
Debt securities
Amortized Cost
Due within one year	392,629
Due after one year but within five years	180,146
Amortized Cost	572,775	138,747
Fair Value
Due within one year	392,412
Due after one year but within five years	179,616
Fair Value	$ 572,028	$ 139,158

Cash, Cash Equivalents and Marketable Securities - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Sale of non-marketable equity investment	$ 24,000	$ 23,979	$ 0	$ 0
Gain on sale of investment	$ 23,800	23,836	132	$ 316
Marketable securities
Debt Securities, Available-for-sale [Line Items]
Fair value of term bond mutual funds		3,700	3,600
Other assets
Debt Securities, Available-for-sale [Line Items]
Non-marketable equity securities		$ 400	$ 500

Cash Equivalents and Marketable Securities - Summary of Realized and Unrealized Gains (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Net gains recognized on marketable equity investments	$ 132	$ 107	$ 582
Less: Net gains recognized on sale of marketable equity investments	0	0	(316)
Unrealized gains at the end of the period	$ 132	$ 107	$ 266

Fair Value Measurements - Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	$ 1,298,796	$ 195,632
Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial assets	1,302,447	199,207
Acquisition-related contingent consideration	800	775
Fair Value, Recurring \| Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	684,485	56,474
Fair Value, Recurring \| U.S. treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	22,000
Marketable securities	442,285	50,223
Fair Value, Recurring \| U.S. government agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	4,285
Marketable securities	75,566
Fair Value, Recurring \| Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	15,998
Marketable securities	54,177	85,673
Fair Value, Recurring \| Term bond mutual funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	3,651	3,575
Fair Value, Recurring \| Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities		3,262
Fair Value, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial assets	1,148,770	106,697
Acquisition-related contingent consideration	0	0
Fair Value, Recurring \| Level 1 \| Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	684,485	56,474
Fair Value, Recurring \| Level 1 \| U.S. treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	22,000
Marketable securities	442,285	50,223
Fair Value, Recurring \| Level 1 \| U.S. government agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0
Marketable securities	0
Fair Value, Recurring \| Level 1 \| Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0
Marketable securities	0	0
Fair Value, Recurring \| Level 1 \| Term bond mutual funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Fair Value, Recurring \| Level 1 \| Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities		0
Fair Value, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial assets	153,677	92,510
Acquisition-related contingent consideration	0	0
Fair Value, Recurring \| Level 2 \| Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Fair Value, Recurring \| Level 2 \| U.S. treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0
Marketable securities	0	0
Fair Value, Recurring \| Level 2 \| U.S. government agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	4,285
Marketable securities	75,566
Fair Value, Recurring \| Level 2 \| Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	15,998
Marketable securities	54,177	85,673
Fair Value, Recurring \| Level 2 \| Term bond mutual funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	3,651	3,575
Fair Value, Recurring \| Level 2 \| Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities		3,262
Fair Value, Recurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial assets	0	0
Acquisition-related contingent consideration	800	775
Fair Value, Recurring \| Level 3 \| Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Fair Value, Recurring \| Level 3 \| U.S. treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0
Marketable securities	0	0
Fair Value, Recurring \| Level 3 \| U.S. government agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0
Marketable securities	0
Fair Value, Recurring \| Level 3 \| Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0
Marketable securities	0	0
Fair Value, Recurring \| Level 3 \| Term bond mutual funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	$ 0	0
Fair Value, Recurring \| Level 3 \| Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities		$ 0

Fair Value Measurements - Reconciliation of Contingent Consideration Liability Measured at Fair Value (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2021
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value
Beginning balance	$ 1,950	$ 775
Additions during the period	0	0
Payments during the period	(1,200)	0
Change in estimated fair value	$ 25	25
Ending balance		$ 800

Balance Sheet Components - Property, Plant, and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 44,684	$ 38,551
Less: accumulated depreciation and amortization	(23,206)	(17,767)
Property and equipment, net	21,478	20,784
Computers
Property, Plant and Equipment [Line Items]
Total property and equipment	13,041	9,249
Capitalized internal-use software
Property, Plant and Equipment [Line Items]
Total property and equipment	14,178	10,041
Office equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	3,375	2,770
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total property and equipment	8,395	9,472
Motor vehicles
Property, Plant and Equipment [Line Items]
Total property and equipment	1,421	2,423
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment	4,274	4,274
Construction in progress
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 0	$ 322

Balance Sheet Components - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Capitalized costs	$ 4.1	$ 4.6
Net carrying value	8.3	6.7
Capitalized internal-use software
Finite-Lived Intangible Assets [Line Items]
Depreciation expense and amortization	$ 9.0	$ 6.9	$ 4.9

Balance Sheet Components - Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued compensation	$ 17,261	$ 8,983
Acquisition-related liabilities	800	1,942
Accrued third-party cloud infrastructure expenses	2,785	1,572
Accrued reseller commissions	5,870	3,999
Accrued advertising and marketing expenses	6,022	2,412
Advanced payments from customers	3,260	2,815
Accrued taxes	10,777	8,645
Other accrued expenses	9,054	5,240
Total accrued liabilities	$ 55,829	$ 35,608

Business Combinations and Asset Purchase (Details) - USD ($) $ in Thousands	1 Months Ended
	Mar. 31, 2020	Jan. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Goodwill			$ 6,181	$ 6,181
AnsweriQ Inc.
Business Acquisition [Line Items]
Acquisition date cash consideration paid		$ 5,700
Goodwill		1,700
AnsweriQ Inc. \| Developed technology
Business Acquisition [Line Items]
Finite-lived intangible assets acquired		$ 4,000
Estimated useful life of finite-lived intangible assets acquired		2 years
Flint \| Developed technology
Business Acquisition [Line Items]
Asset acquisition, total consideration	$ 2,000

Goodwill and Intangible Assets, Net - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 6,181	$ 6,181
Amortization of acquired intangible assets	4,300	4,300	$ 1,400
Developed technology
Finite-Lived Intangible Assets [Line Items]
Amortization of acquired intangible assets	3,900	3,900	1,100
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Amortization of acquired intangible assets	$ 400	$ 400	$ 300

Goodwill and Intangible Assets, Net - Summary of Acquired Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 12,096	$ 12,096
Accumulated Amortization	(10,202)	(5,873)
Net Carrying Value	1,894	6,223
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Amount	10,496	10,496
Accumulated Amortization	(9,147)	(5,218)
Net Carrying Value	$ 1,349	$ 5,278
Weighted Average Remaining Useful Life	10 months 24 days	1 year 6 months
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 1,600	$ 1,600
Accumulated Amortization	(1,055)	(655)
Net Carrying Value	$ 545	$ 945
Weighted Average Remaining Useful Life	1 year 4 months 24 days	2 years 4 months 24 days

Goodwill and Intangible Assets, Net - Summary of Estimated Future Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
2022	$ 1,591
2023	303
Net Carrying Value	$ 1,894	$ 6,223

Commitment and Contingencies - Narrative (Details) ft² in Thousands	1 Months Ended	12 Months Ended
	Sep. 30, 2018 USD ($) ft²	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Other Commitments [Line Items]
Area of leased space \| ft²	22
Monthly base rent	$ 113,246
Rate of increase for monthly base rent	3.00%
Option to extend	5 years
Total commitment	$ 10,500,000
Tenant improvement allowance	$ 1,500,000
Deferred rent		$ 4,600,000	$ 5,100,000
Rent expense		9,700,000	10,200,000	$ 7,100,000
Other liabilities
Other Commitments [Line Items]
Deferred rent		$ 3,800,000	$ 4,600,000

Commitment and Contingencies - Future minimum lease payments (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2022	$ 6,954
2023	6,790
2024	6,642
2025	5,976
2026	3,579
Thereafter	4,304
Total minimum future payments	$ 34,245

Commitment and Contingencies - Other Contractual Commitments (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2022	$ 26,953
2023	22,958
2024	1,658
Total	$ 51,569

Redeemable Convertible Preferred Stock - Narrative (Details)	1 Months Ended		12 Months Ended
	Sep. 30, 2021 USD ($)	Jan. 31, 2020 USD ($) shares	Dec. 31, 2021 USD ($) shares	Dec. 31, 2020 USD ($) shares	Dec. 31, 2019 USD ($) shares	Dec. 31, 2018 shares
Temporary Equity [Line Items]
Redeemable convertible preferred stock, outstanding (in shares)			0	153,937,730	153,938,000	142,662,000
Number of shares issued in conversion (in shares)	1		1
Conversion of convertible securities (in shares) \| $	$ 5,600,000,000		$ 5,541,758,000
Redeemable convertible preferred stock, authorized (in shares)			0	154,055,430
Liquidation Preference \| $			$ 0	$ 326,559,000
Stock-based compensation expense \| $				43,280,000	$ 273,000
Secondary transaction
Temporary Equity [Line Items]
Amount paid by investor to acquire shares \| $		$ 25,500,000
Fair value of shares \| $		14,700,000
Stock-based compensation expense \| $				$ 43,200,000
Secondary transaction \| General and administrative
Temporary Equity [Line Items]
Stock-based compensation expense \| $		$ 10,800,000
Series A
Temporary Equity [Line Items]
Redeemable convertible preferred stock, outstanding (in shares)				21,311,000
Redeemable convertible preferred stock, authorized (in shares)				21,428,000
Liquidation Preference \| $				$ 1,059,000
Series A \| Secondary transaction
Temporary Equity [Line Items]
Number of shares issued and sold (in shares)		26,210
Series B
Temporary Equity [Line Items]
Redeemable convertible preferred stock, outstanding (in shares)				36,229,000
Redeemable convertible preferred stock, authorized (in shares)				36,229,000
Liquidation Preference \| $				$ 5,000,000
Series B \| Secondary transaction
Temporary Equity [Line Items]
Number of shares issued and sold (in shares)		1,314,830
Series C
Temporary Equity [Line Items]
Redeemable convertible preferred stock, outstanding (in shares)				15,307,000
Redeemable convertible preferred stock, authorized (in shares)				15,307,000
Liquidation Preference \| $				$ 7,000,000
Series C \| Secondary transaction
Temporary Equity [Line Items]
Number of shares issued and sold (in shares)		448,110

Redeemable Convertible Preferred Stock - Summary of Redeemable Convertible Preferred Stock (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Temporary Equity [Line Items]
Redeemable convertible preferred stock, authorized (in shares)	0	154,055,430
Redeemable convertible preferred stock, outstanding (in shares)	0	153,937,730	153,938,000	142,662,000
Liquidation Preference	$ 0	$ 326,559,000
Carrying Value	$ 0	$ 2,895,096,000	$ 1,334,572,000	$ 631,413,000
Series A
Temporary Equity [Line Items]
Redeemable convertible preferred stock, authorized (in shares)		21,428,000
Redeemable convertible preferred stock, outstanding (in shares)		21,311,000
Original issuance price (in dollars per share)		$ 0.05
Liquidation Preference		$ 1,059,000
Carrying Value		$ 397,172,000
Series B
Temporary Equity [Line Items]
Redeemable convertible preferred stock, authorized (in shares)		36,229,000
Redeemable convertible preferred stock, outstanding (in shares)		36,229,000
Original issuance price (in dollars per share)		$ 0.14
Liquidation Preference		$ 5,000,000
Carrying Value		$ 675,223,000
Series C
Temporary Equity [Line Items]
Redeemable convertible preferred stock, authorized (in shares)		15,307,000
Redeemable convertible preferred stock, outstanding (in shares)		15,307,000
Original issuance price (in dollars per share)		$ 0.46
Liquidation Preference		$ 7,000,000
Carrying Value		$ 285,280,000
Series D
Temporary Equity [Line Items]
Redeemable convertible preferred stock, authorized (in shares)		30,663,000
Redeemable convertible preferred stock, outstanding (in shares)		30,663,000
Original issuance price (in dollars per share)		$ 1.01
Liquidation Preference		$ 31,000,000
Carrying Value		$ 571,476,000
Series E
Temporary Equity [Line Items]
Redeemable convertible preferred stock, authorized (in shares)		21,292,000
Redeemable convertible preferred stock, outstanding (in shares)		21,292,000
Original issuance price (in dollars per share)		$ 2.35
Liquidation Preference		$ 50,000,000
Carrying Value		$ 396,927,000
Series F
Temporary Equity [Line Items]
Redeemable convertible preferred stock, authorized (in shares)		8,709,000
Redeemable convertible preferred stock, outstanding (in shares)		8,709,000
Original issuance price (in dollars per share)		$ 3.16
Liquidation Preference		$ 27,500,000
Carrying Value		$ 162,439,000
Series G
Temporary Equity [Line Items]
Redeemable convertible preferred stock, authorized (in shares)		9,151,000
Redeemable convertible preferred stock, outstanding (in shares)		9,151,000
Original issuance price (in dollars per share)		$ 6.01
Liquidation Preference		$ 55,000,000
Carrying Value		$ 172,344,000
Series H
Temporary Equity [Line Items]
Redeemable convertible preferred stock, authorized (in shares)		11,276,000
Redeemable convertible preferred stock, outstanding (in shares)		11,276,000
Original issuance price (in dollars per share)		$ 13.30
Liquidation Preference		$ 150,000,000
Carrying Value		$ 234,235,000

Stockholders' Equity and Stock Based Compensation - Narrative (Details)		1 Months Ended				12 Months Ended
	Sep. 21, 2021 USD ($)	Sep. 30, 2021 USD ($) target tranche $ / shares shares	Aug. 31, 2021 shares	Jan. 31, 2020 USD ($)	May 31, 2019 shares	Dec. 31, 2021 USD ($) vote period $ / shares shares	Dec. 31, 2020 USD ($) $ / shares shares	Dec. 31, 2019 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Preferred stock, authorized (in shares)						10,000,000	0
Preferred stock, par value (in dollars per share) \| $ / shares						$ 0.00001	$ 0.00001
Common stock, par value (in dollars per share) \| $ / shares						$ 0.00001	$ 0.00001
Total shares of common stock reserved for issuance (in shares)						91,697,000	199,943,000
Employee contributions withheld \| $						$ 4,200,000
Stock-based compensation expense \| $							$ 43,280,000	$ 273,000
Contractual term						10 years
Intrinsic value of option exercised \| $						$ 14,000,000	9,800,000	$ 9,500,000
Secondary transaction
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense \| $							43,200,000
Secondary transaction \| General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense \| $				$ 10,800,000
Secondary Transaction - Repurchase of Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense \| $							32,400,000
Secondary Transaction - Repurchase of Common Stock \| Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense \| $							15,900,000
Secondary Transaction - Repurchase of Common Stock \| General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense \| $							16,500,000
Share-base compensation expense, excess value \| $							$ 10,800,000
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Offering period						24 months
Number of purchase periods \| period						4
Purchase period						6 months
Stock-based compensation expense \| $						$ 3,500,000
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period						4 years
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total shares of common stock reserved for issuance (in shares)						429,000	0
Stock-based compensation expense \| $	$ 0					$ 173,443,000
Award vesting period						4 years
Number of shares approved for grant (in shares)						26,808,000
Performance Based Restricted Stock Units (PRSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense \| $						$ 9,000,000
Performance Based Restricted Stock Units (PRSUs) \| Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense \| $						$ 8,400,000
Number of shares approved for grant (in shares)		6,000,000			166,390
Number of threshold stock price targets \| target		5
Number of threshold vesting tranches \| tranche		5
Trading day period		60 days
Total grant date fair value \| $		$ 131,000,000
Performance Based Restricted Stock Units (PRSUs) \| Chief Executive Officer \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Threshold stock price target (in USD per share) \| $ / shares		$ 70.00
Performance Based Restricted Stock Units (PRSUs) \| Chief Executive Officer \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Threshold stock price target (in USD per share) \| $ / shares		$ 200.00
2021 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total shares of common stock reserved for issuance (in shares)						36,019,000	0
2021 Equity Incentive Plan \| ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total shares of common stock reserved for issuance (in shares)			35,000,000			36,018,956
Percent of annual increase in capital shares reserved for future issuance			5.00%
Maximum amount of reduction to reserve (in shares)						51,178,920
2021 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total shares of common stock reserved for issuance (in shares)						6,500,000	0
2021 Employee Stock Purchase Plan \| ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (in shares)						431,886
Shares cancelled and added to reserve (in shares)						1,439,884
Shares purchased under ESPP (in shares)						0
Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, authorized (in shares)						1,000,000,000	0
Common stock, number of votes per share \| vote						1
Common stock, par value (in dollars per share) \| $ / shares						$ 0.00001	$ 0.00001
Class A Common Stock \| 2021 Employee Stock Purchase Plan \| ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total shares of common stock reserved for issuance (in shares)			6,500,000
Purchase price of common stock in percent						85.00%
Class B Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, authorized (in shares)						350,000,000	0
Common stock, number of votes per share \| vote						10
Common stock, par value (in dollars per share) \| $ / shares						$ 0.00001	$ 0.00001

Stockholders' Equity and Stock Based Compensation - Shares of Common Stock Reserved for Future Issuance (Details) - shares shares in Thousands	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total shares of common stock reserved for issuance (in shares)	91,697	199,943
2011 Stock Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total shares of common stock reserved for issuance (in shares)	0	9,981
2021 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total shares of common stock reserved for issuance (in shares)	36,019	0
2021 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total shares of common stock reserved for issuance (in shares)	6,500	0
Redeemable convertible preferred stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total shares of common stock reserved for issuance (in shares)	0	153,938
Options and RSUs outstanding \| 2011 Stock Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total shares of common stock reserved for issuance (in shares)	48,749	36,024
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total shares of common stock reserved for issuance (in shares)	429	0

Stockholders' Equity and Stock Based Compensation - Fair Value Assumptions (Details)	12 Months Ended
	Dec. 31, 2021
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	0.00%
ESPP \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Measurement period (in years)	7 months 6 days
Stock price volatility	47.70%
Risk-free interest rate	0.06%
ESPP \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Measurement period (in years)	2 years 1 month 6 days
Stock price volatility	58.50%
Risk-free interest rate	0.29%
Performance Based Restricted Stock Units (PRSUs) \| Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Measurement period (in years)	7 years
Stock price volatility	60.00%
Risk-free interest rate	1.12%
Dividend yield	0.00%

Stockholders' Equity and Stock Based Compensation - Summary of Stock Options (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Number of Shares
Beginning balance (in shares)	2,096,000
Stock options granted (in shares)	0
Stock options exercised (in shares)	(537,000)
Stock options cancelled / forfeited / expired (in shares)	(211,000)
Ending balance (in shares)	1,348,000	2,096,000
Weighted-Average Exercise Price
Beginning balance (in USD per share)	$ 0.23
Stock options granted (in USD per share)	0
Stock options exercised (in USD per share)	0.18
Stock options cancelled / forfeited / expired (in USD per share)	0.07
Ending balance (in USD per share)	$ 0.27	$ 0.23
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Weighted-Average Remaining Contractual Term (in years)	3 years 7 months 6 days	4 years 1 month 6 days
Aggregate intrinsic value	$ 35,020	$ 33,947

Stockholders' Equity and Stock Based Compensation - Restricted Stock Units (Details) - RSUs	12 Months Ended
	Dec. 31, 2021 $ / shares shares
Number of Shares
Unvested, beginning balance (in shares) \| shares	33,928,000
Granted (in shares) \| shares	26,808,000
Vested (in shares) \| shares	(9,928,000)
Forfeited (in shares) \| shares	(2,978,000)
Unvested, ending balance (in shares) \| shares	47,830,000
Weighted-Average Grant Date Fair Value
Unvested, beginning balance (in USD per share) \| $ / shares	$ 5.41
Granted (in USD per share) \| $ / shares	22.02
Vested (in USD per share) \| $ / shares	5.17
Forfeited (in USD per share) \| $ / shares	9.81
Unvested, ending balance (in USD per share) \| $ / shares	$ 14.47

Stockholders' Equity and Stock Based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total employee awards		$ 43,280	$ 273
Capitalized stock-based compensation	$ 585	0	0
Total stock-based compensation expense	174,028	43,280	273
Employee awards:
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total employee awards	173,443	44	273
Secondary transaction
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total employee awards	0	43,236	0
Cost of revenue \| Employee awards:
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total employee awards	5,604	0	13
Research and development \| Employee awards:
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total employee awards	45,162	8	151
Sales and marketing \| Employee awards:
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total employee awards	53,169	7	104
General and administrative \| Employee awards:
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total employee awards	$ 69,508	$ 29	$ 5

Stockholders' Equity and Stock Based Compensation - Unrecognized Stock Based Compensation Expense (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Stock-Based Compensation	$ 594,844
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Stock-Based Compensation	$ 574,916
Weighted-Average Period to Recognize Expense (in years)	3 years 7 months 6 days
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Stock-Based Compensation	$ 19,928
Weighted-Average Period to Recognize Expense (in years)	1 year 2 months 12 days

Net Loss Per Share - Computation of Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Numerator:
Net loss	$ (191,995)	$ (57,294)	$ (31,125)
Accretion of redeemable convertible preferred stock	(2,646,662)	(1,560,524)	(553,339)
Deemed dividend distribution	0	0	(40,071)
Net loss attributable to common stockholders - basic	(2,838,657)	(1,617,818)	(624,535)
Net loss attributable to common stockholders - diluted	$ (2,838,657)	$ (1,617,818)	$ (624,535)
Denominator:
Weighted-average shares used in computing net loss per share attributable to common stockholders - basic (in shares)	130,652	76,945	76,029
Weighted-average shares used in computing net loss per share attributable to common stockholders - diluted (in shares)	130,652	76,945	76,029
Net loss per share attributable to Class A and Class B common stockholders - basic and diluted
Basic (in dollars per share)	$ (21.73)	$ (21.03)	$ (8.21)
Diluted (in dollars per share)	$ (21.73)	$ (21.03)	$ (8.21)
Common Stock
Numerator:
Net loss attributable to common stockholders - basic	$ (2,838,657)	$ (1,617,818)	$ (624,535)
Net loss attributable to common stockholders - diluted	$ (2,838,657)	$ (1,617,818)	$ (624,535)
Denominator:
Weighted-average shares used in computing net loss per share attributable to common stockholders - basic (in shares)	130,652	76,945	76,029
Weighted-average shares used in computing net loss per share attributable to common stockholders - diluted (in shares)	130,652	76,945	76,029
Net loss per share attributable to Class A and Class B common stockholders - basic and diluted
Basic (in dollars per share)	$ (21.73)	$ (21.03)	$ (8.21)
Diluted (in dollars per share)	$ (21.73)	$ (21.03)	$ (8.21)

Net Loss Per Share - Potential Common Equivalents Excluded from Computation of Diluted Net Loss per Share (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	49,338	189,962	179,438
Redeemable convertible preferred stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	153,938	153,938
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	1,348	2,096	2,898
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	47,830	33,928	22,602
ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	160	0	0

Income Taxes - Net Loss Before Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Domestic	$ (211,844)	$ (69,102)	$ (40,616)
Foreign	30,365	15,823	13,126
Loss before income taxes	$ (181,479)	$ (53,279)	$ (27,490)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 2
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+ Details

Income Taxes - Components of Provision for Income Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Current:
Domestic	$ 2,876	$ (12)	$ 11
Foreign	9,547	6,387	4,563
Deferred:
Domestic	0	0	(194)
Foreign	(1,907)	(2,360)	(745)
Provision for income taxes	$ 10,516	$ 4,015	$ 3,635

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Income Taxes - Reconciliation of the federal statutory income tax rate to the Company’s effective tax rate (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Federal income tax	21.00%	21.00%	21.00%
State taxes, net of federal benefit	0.00%	0.00%	3.20%
Stock-based compensation	2.10%	(17.10%)	(0.20%)
Change in valuation allowance	(25.40%)	(11.80%)	(32.80%)
Earnings from foreign subsidiaries	(0.50%)	(1.30%)	(3.90%)
Other items	(3.00%)	1.60%	(0.50%)
Total provision for income taxes	(5.80%)	(7.60%)	(13.20%)

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Net operating loss carryforwards	$ 78,077	$ 36,702
Foreign tax credit carryforwards	4,955	4,955
Stock-based compensation	9,643	0
Accruals and Reserves	6,584	5,433
Depreciation and amortization	1,633	354
Allowance for uncollectible accounts	66	1,383
Total deferred tax assets	100,958	48,827
Less: valuation allowance	(89,903)	(41,111)
Deferred tax assets, net of valuation allowance	11,055	7,716
Deferred tax liabilities:
Commissions	(4,771)	(3,323)
Net deferred tax assets	$ 6,284	$ 4,393

Income Taxes - Narrative (Details) - USD ($)	12 Months Ended
Income Taxes - Narrative (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Examination [Line Items]
Increase in valuation allowance	$ 48,800,000	$ 9,000,000
Foreign tax credit carryforwards	4,955,000	4,955,000
Gross unrecognized tax benefits	2,227,000	$ 0	$ 0
Accrued interest	500,000
Domestic Tax Authority
Income Tax Examination [Line Items]
Net operating loss carryforwards	345,700,000
Operating loss carryforwards subject to limitation	10,700,000
State and Local Jurisdiction
Income Tax Examination [Line Items]
Net operating loss carryforwards	94,000,000
Foreign Tax Authority
Income Tax Examination [Line Items]
Foreign tax credit carryforwards	$ 5,000,000

Income Taxes - Schedule of Unrecognized Tax Benefits (Details)	12 Months Ended
	Dec. 31, 2021 USD ($)
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized gross tax benefits at the beginning of the period	$ 0
Increases related to prior year tax positions	1,269,000
Decreases related to prior year tax positions	0
Reversal of prior year unrecognized tax benefits	0
Increases in current year unrecognized benefits	958,000
Unrecognized gross tax benefits at the end of the period	$ 2,227,000

Geographic Information (Details) - USD ($) $ in Thousands	12 Months Ended
Geographic Information (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 371,022	$ 249,659	$ 172,377
Total long-lived assets	23,373	27,007
North America
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	160,224	111,644	79,805
Total long-lived assets	13,780	16,796
Europe, Middle East and Africa
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	152,542	98,992	65,038
Total long-lived assets	578	606
Asia Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	49,933	33,445	23,528
Total long-lived assets	9,015	9,605
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 8,323	$ 5,578	$ 4,006

- Definition

+ References

+ Details

Subsequent Events (Details) shares in Millions	Feb. 14, 2022 shares
Subsequent Event \| Class A Common Stock
Subsequent Event [Line Items]
Common stock issued in settlement of vested restricted stock units (in shares)	9.3