0000950170-25-024135 | 10-K | XBRL Viewer

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Operating Leases - Schedule of Operating Lease, Liability, Maturity (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Leases [Abstract]
2025	$ 3,811
2026	1,146
2027	781
2028	47
2029 and thereafter	0
Total undiscounted operating lease payments	5,785
Less: imputed interest	(201)
Total operating lease liabilities	$ 5,584

Acquisitions, Intangible Assets, and Goodwill - Additional Information (Details) - USD ($) $ in Thousands, shares in Millions		12 Months Ended
	Oct. 15, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Fair value of assets acquired		$ 20,300
Cash paid for acquisitions, net of cash acquired		$ 16,068	$ 0	$ 394
Restricted stock shares issued under employee retention		1.4
Amortization of intangible assets		$ 700	$ 1,400	$ 2,100
Recognized as stock-based compensation expense		$ 13,000
Privately Held Company
Business Acquisition [Line Items]
Aggregate foobar acquisition amount	$ 33,600
Aggregate acquisition amount	$ 26,700
Common shares issued for business acquisition	0.8
Acquisition, equity consideration amount	$ 6,900
Developed Technology
Business Acquisition [Line Items]
Aggregate foobar acquisition amount	9,600
Cash paid for acquisitions, net of cash acquired	3,700
Business Acquisitions Intangible Asset	700
Business acquisitions trade name asset	$ 90

Fair Value Measurements - Contractual maturities of available-for-sale securities (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Fair Value Disclosures [Abstract]
Due in one year or less	$ 69,419
Due in greater than one year	57,242
Total	$ 126,661

Fair Value Measurements

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Fair Value Measurements

(3)

Fair Value Measurements

The following table summarizes, for financial assets measured at fair value, the respective fair value and classification by level of input within the fair value hierarchy (in thousands):


		As of December 31, 2024
		Amortized Cost			Gross Unrealized Gains			Gross Unrealized Losses			Estimated Fair Value
Level 1:
Cash equivalents(1)
Money market funds	$		137,374	$		—	$		—	$		137,374
Level 2:
Cash equivalents(1)
U.S. governmental and agency securities			12,826			—			—			12,826
Available-for-sale securities
U.S. governmental and agency securities			126,655			6			—			126,661
Total	$		276,855	$		6	$		—	$		276,861


		As of December 31, 2023
		Amortized Cost			Gross Unrealized Gains			Gross Unrealized Losses				Estimated Fair Value
Level 1:
Cash equivalents(1)
Money market funds	$		211,741	$		—	$		—		$		211,741
Level 2:
Available-for-sale securities
U.S. governmental and agency securities			74,090			—			(181	)			73,909
Total	$		285,831	$		—	$		(181	)	$		285,650

(1)

Included in “Cash and cash equivalents” in the Company's consolidated balance sheets as of December 31, 2024 and 2023, in addition to cash of $21.5 million and $36.8 million, respectively.

The Company uses quoted prices in active markets for identical assets to determine the fair value of the Company's Level 1 investments. The fair value of the Company's Level 2 investments is determined using pricing based on quoted market prices or alternative market observable inputs.

The fair value of the Company's available-for-sale securities as of December 31, 2024, by remaining contractual maturities, was as follows (in thousands):


	As of December 31, 2024
Due in one year or less	$	69,419
Due in greater than one year		57,242
Total	$	126,661

The Company periodically evaluates its investments for expected credit losses. The unrealized losses on the available-for-sale securities were primarily due to unfavorable changes in interest rates subsequent to the initial purchase of these securities. None of the Company's available-for-sale securities have been in a continuous unrealized loss position for twelve months or longer as of December 31, 2024. The Company expects to recover the full carrying value of its available-for-sale securities in an unrealized loss position as it does not intend or anticipate a need to sell these securities prior to recovering the associated unrealized losses. The Company also expects any credit losses would be immaterial based on the high-grade credit rating for each of such available-for-sale securities. As a result, the Company does not consider any portion of the unrealized losses as of December 31, 2024 and 2023 to represent a credit loss.

- 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.

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+ Details

Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Accounts Receivable, Allowance for Credit Loss, Current	$ 1,417	$ 1,101
Preferred Stock, Par or Stated Value Per Share	$ 0.00001	$ 0.00001
Preferred Stock, Shares Authorized	20,000	20,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Class A Common Stock
Common Stock, Par or Stated Value Per Share	$ 0.00001	$ 0.00001
Common Stock, Shares Authorized	600,000	600,000
Common Stock, Shares, Issued	96,095	85,628
Common Stock, Shares, Outstanding	96,095	85,628
Class B Common Stock
Common Stock, Par or Stated Value Per Share	$ 0.00001	$ 0.00001
Common Stock, Shares Authorized	600,000	600,000
Common Stock, Shares, Issued	33,093	34,382
Common Stock, Shares, Outstanding	33,093	34,382

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ (94,319)	$ (90,363)	$ (93,377)

- 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

Summary of Business and Significant Accounting Policies - Summary of other operating segment information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Restructuring and other related charges	$ 0	$ 8,142	$ 0
Other Segments [Member]
Segment Reporting Information [Line Items]
Stock-based compensation expense and related employer payroll taxes	102,645	89,472	68,297
Amortization of acquired intangible assets	734	1,413	2,017
Restructuring and other related charges	0	8,142	0
Total other segment expenses	$ 103,379	$ 99,027	$ 70,314

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	(11) Subsequent Events In January and February 2025, the Company issued 1.3 million RSUs to its employees with service-based vesting conditions. The service-based vesting condition for these awards is satisfied over three years. The grant date fair value of the RSUs issued in January and February 2025 was approximately $14.3 million.

Stockholders' Equity and Equity Incentive Plans - Schedule of RSU Activity (Details) - RSUs Outstanding	12 Months Ended
	Dec. 31, 2024 $ / shares shares
Class Of Stock [Line Items]
Balance as of December 31, 2023 \| shares	11,301,279
Granted \| shares	12,135,585
Vested \| shares	(6,794,806)
Cancelled/forfeited \| shares	(3,122,289)
Balance as of December 31, 2024 \| shares	13,519,769
Balance as of December 31, 2023 \| $ / shares	$ 14.76
Granted \| $ / shares	9.59
Vested \| $ / shares	13.59
Cancelled/forfeited \| $ / shares	13.45
Balance as of December 31, 2024 \| $ / shares	$ 11.02

Summary of Business and Significant Accounting Policies - Summary of operating segment information (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2024

Dec. 31, 2023

Dec. 31, 2022

Segment Reporting Information [Line Items]

Revenue

$ 299,272

$ 276,284

$ 238,067

Cost of revenue

76,924

71,923

70,442

Research and development

97,565

90,138

80,589

Sales and marketing

168,306

153,714

129,962

General and administrative

63,860

54,887

53,636

Other income

(14,855)

(13,426)

(3,981)

Provision for income taxes

1,791

1,269

796

Net loss

(94,319)

(90,363)

(93,377)

Operating Segment [Member]

Segment Reporting Information [Line Items]

Revenue

299,272

276,284

238,067

Cost of revenue

^[1]

69,962

63,385

61,957

Research and development

^[1]

51,921

52,619

52,113

Sales and marketing

^[1]

135,047

123,333

112,576

General and administrative

^[1]

46,346

40,440

37,669

Other segment expenses

103,379

99,027

70,314

Other income

(14,855)

(13,426)

(3,981)

Provision for income taxes

1,791

1,269

796

Net loss

$ (94,319)

$ (90,363)

$ (93,377)

[1]	Amounts exclude other segment expenses as follows:

Acquisitions, Intangible Assets, and Goodwill - Schedule of useful lives of the acquired intangible assets (Details)	Dec. 31, 2024
Trade name
Business Acquisition [Line Items]
Useful lives of the acquired intangible assets	1 year
Developed Technology
Business Acquisition [Line Items]
Useful lives of the acquired intangible assets	5 years
Customer related
Business Acquisition [Line Items]
Useful lives of the acquired intangible assets	3 years

Net Loss Per Share - Schedule of Ant-dilutive Securities Excluded from Calculation of Diluted Net Loss Per Share (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from computation of diluted net loss per share	25,872	26,023	27,716
Equity Plan Stock Options Outstanding
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from computation of diluted net loss per share	11,502	14,268	16,768
Equity Plan Stock Options Early Exercised
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from computation of diluted net loss per share	0	5	235
Restricted Stock Units Outstanding
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from computation of diluted net loss per share	13,520	11,301	9,914
Restricted Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from computation of diluted net loss per share	301	0	241
Shares issuable pursuant to the ESPP
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from computation of diluted net loss per share	549	449	558

Income Taxes - Schedule of Income Tax Provisions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current:
Federal	$ 0	$ 0	$ 0
State	164	51	86
Foreign	1,250	516	619
Total Current	1,414	567	705
Deferred:
Federal	(127)	0	0
State	(29)	0	0
Foreign	533	702	91
Total Provision	$ 1,791	$ 1,269	$ 796

Stockholders' Equity and Equity Incentive Plans - Summary of Stock Option Activity (Details) - USD ($)
$ / shares in Units, $ in Thousands

12 Months Ended

Dec. 31, 2024

Dec. 31, 2023

Equity [Abstract]

Balances as of December 31, 2023

14,268,055

Granted

Exercised

(2,256,288)

Cancelled/forfeited

(510,042)

Balances as of December 31, 2024

11,501,725

^[1]

14,268,055

Exercisable as of December 31, 2024

^[2]

10,998,001

Balances as of December 31, 2023

$ 4.4

Granted

Exercised

2.89

Cancelled/forfeited

10.81

Balances as of December 31, 2024

4.41

^[1]

$ 4.4

Exercisable as of December 31, 2024

^[2]

$ 4.05

Weighted average remaining contractual life (years), outstanding

5 years 3 months

^[1]

6 years 3 months 7 days

Weighted average remaining contractual life (years), Exercisable

^[2]

5 years 1 month 28 days

Balances as of December 31, 2023

$ 118,757

Balances as of December 31, 2024

70,628

^[1]

$ 118,757

Exercisable as of December 31, 2024

^[2]

$ 71,436

[1]	As no forfeitures are estimated due to the Company's adoption of ASU No. 2016-09, all options are vested or expected to vest. As of December 31, 2024, no options were outstanding that were subject to a future performance condition
[2]	Exercisable shares include vested options as well as unvested shares that can be early exercised

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Taxes [Line Items]
Statutory federal income tax rate	21.00%	21.00%	21.00%
NOL carryforwards, federal	$ 473,600
NOL carryforwards, state	356,300
UnrecognizedTaxBenefits	7,263	$ 5,118	$ 3,625	$ 2,253
Federal
Income Taxes [Line Items]
Carryforward that are subject to expiration	25,400
Tax credit carryforward	$ 16,700
State
Income Taxes [Line Items]
Net operating loss carry forwards, expire period	2030
Carryforwards not subject to expiration	$ 448,200
Tax credit carryforward	$ 14,800

Balance Sheet Components

12 Months Ended

Dec. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Balance Sheet Components

(2)

Balance Sheet Components

The following tables show the Company’s financial statement details as of December 31, 2024 and 2023.

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following (in thousands):


	As of December 31,
	2024		2023
Prepaid hosting	$	6,128	$	6,074
Other prepaid expenses and other assets		14,225		10,550
Total prepaid expense and other current assets	$	20,353	$	16,624

Property and Equipment, Net

Property and equipment, net consisted of the following (in thousands):


	As of December 31,
	2024			2023
Office equipment	$	4,886		$	4,427
Furniture and fixtures		1,376			1,237
Leasehold improvements		1,320			1,299
Internal-use software		20,534			10,467
Total property and equipment		28,116			17,430
Less accumulated depreciation and amortization		(11,783	)		(7,362	)
Property and equipment, net	$	16,333		$	10,068

Depreciation and amortization expense related to property and equipment for the years ended December 31, 2024, 2023, and 2022 was $5.4 million, $4.2 million, and $2.6 million, respectively.

The changes in the carrying value of capitalized internal-use software costs for the periods presented below are as follows (in thousands):


	Amount

Balance as of December 31, 2022	$	4,891
Capitalization of internal-use software costs		3,641
Amortization of internal-use software costs		(2,350	)
Balance as of December 31, 2023		6,182
Capitalization of internal-use software costs		10,067
Amortization of internal-use software costs		(3,230	)
Balance as of December 31, 2024		13,019

Accrued Expenses

Accrued expenses consisted of the following (in thousands):


	As of December 31,
	2024		2023
Accrued hosting	$	1,151	$	6,506
Accrued commission and bonus		17,215		6,383
Accrued payroll and employee related taxes		2,500		2,468
Accrued sales tax		429		322
2021 Employee Stock Purchase Plan withholding		811		1,017
Operating lease liabilities, current		3,812		4,571
Other accrued liabilities		7,933		5,390
Total accrued expenses	$	33,851	$	26,657

Income Taxes - Schedule of Reconciliation of Income Tax Provision to Federal Income Tax Rate (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Statutory federal income tax rate	21.00%	21.00%	21.00%
State income taxes, net of federal tax benefits	2.51%	4.11%	4.34%
Permanent differences	(0.51%)	(0.48%)	(0.29%)
Tax Credit	6.63%	7.24%	6.49%
Foreign rate differential	(0.06%)	0.18%	0.25%
Stock based compensation	(10.16%)	(9.70%)	(3.36%)
Other	0.16%	0.07%	(0.04%)
Valuation allowance	(21.49%)	(23.84%)	(29.25%)
Total provision	(1.92%)	(1.42%)	(0.86%)

Summary of Business and Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Description of Business

Amplitude, Inc. (the “Company”) was incorporated in the state of Delaware in 2011 and is headquartered in San Francisco, California. The Company provides a Digital Analytics Platform that helps businesses understand how people are using their digital products so they can improve the digital experience provided by those digital products. The Company delivers its application over the Internet as a subscription service using a software-as-a-service (“SaaS”) model. The Company’s arrangements with customers do not provide the customer with the right to take possession of the software supporting the cloud-based application service at any time. The Company also offers customer support related to initial implementation setup, ongoing support services, and application training.

Segment Information

The Company has a single operating and reportable segment. The software segment provides a Digital Analytics Platform to customers using a SaaS model. The Company derives revenue primarily in the United States and manages the business activities on a consolidated basis. The accounting policies of the software segment are the same as those described in the summary of significant accounting policies.

The chief operating decision maker, who, in the Company’s case, is the Chief Executive Officer (“CEO”), assesses performance for the software segment and decides how to allocate resources based on functional expenses exclusive of stock-based compensation, amortization of acquired intangible assets, non-recurring charges such as restructuring and other related charges as well as related tax impacts of these items. The CEO uses these functional expense captions and consolidated net loss to evaluate income generated or losses incurred from the software segment, and utilizes the metric in deciding operating decisions, including, but not limited to, investing in R&D, product developments, personnel, and other expenses. The measure of segment assets is reported on the balance sheet as total consolidated assets.

The following tables sets forth operating segment information (in thousands):


	Year Ended December 31,
	2024			2023			2022
Revenue	$	299,272		$	276,284		$	238,067
Less:
Cost of revenue(1)		69,962			63,385			61,957
Research and development(1)		51,921			52,619			52,113
Sales and marketing(1)		135,047			123,333			112,576
General and administrative(1)		46,346			40,440			37,669
Other segment expenses		103,379			99,027			70,314
Other income		(14,855	)		(13,426	)		(3,981	)
Provision for income taxes		1,791			1,269			796
Consolidated net loss	$	(94,319	)	$	(90,363	)	$	(93,377	)

(1)

Amounts exclude other segment expenses as follows:


	Year Ended December 31,
	2024		2023		2022
Stock-based compensation expense and related employer payroll taxes	$	102,645	$	89,472	$	68,297
Amortization of acquired intangible assets		734		1,413		2,017
Restructuring and other related charges		—		8,142		—
Total other segment expenses	$	103,379	$	99,027	$	70,314

Basis of Presentation and Principles of Consolidation

The consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP” or “GAAP”) and include the accounts of Amplitude, Inc. and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.

Foreign Currency

The reporting currency of the Company is the United States dollar. The functional currency of the Company’s foreign subsidiaries is also the United States dollar. Foreign currency transaction gains and losses are recognized in “Other income (expense), net” in the consolidated statements of operations and comprehensive loss, and have not been material for any of the periods presented.

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. These estimates are based on information available as of the date of the financial statements and may involve subjective or significant judgment by the Company; therefore, actual results could differ from the Company’s estimates. Items subject to such estimates and assumptions include, but are not limited to the:

•

expected period of benefit for deferred commissions;

•

useful lives of long-lived assets;

•

valuation of goodwill and intangible assets;

•

recognition, measurement, and valuation of deferred tax assets and income tax uncertainties; and

•

incremental borrowing rates used for operating leases.

Revenue Recognition

The Company derives revenue primarily from sales of subscription services. Revenue is recognized when, or as, the related performance obligation is satisfied by transferring the control of the promised service to a customer. The amount of revenue recognized reflects the consideration that the Company expects to be entitled to receive in exchange for these services.

To achieve the core principle of the revenue standard, the Company applies the following steps:

(i)

Identification of the contract, or contracts, with the customer

The Company considers the terms and conditions of the contract in identifying the contracts. The Company determines a contract with a customer to exist when the contract is approved, each party’s rights regarding the services to be transferred can be identified, the payment terms for the services can be identified, it has been determined the customer has the ability and intent to pay, and the contract has commercial substance. At contract inception, the Company will evaluate whether two or more contracts should be combined and accounted for as a single contract and whether the combined or single contract includes more than one performance obligation. The Company applies judgment in determining the customer’s ability and intent to pay, which is based on a variety of factors, including the customer’s historical payment experience or, in the case of a new customer, credit, and financial information pertaining to the customer.

(ii)

Identification of the performance obligations in the contract

Performance obligations promised in a contract are identified based on the services that will be transferred to the customer that are both capable of being distinct, whereby the customer can benefit from the service either on its own or together with other resources that are readily available from third parties or from the Company and are distinct in the context of the contract, whereby the transfer of the services and the products is separately identifiable from other promises in the contract. The Company’s performance obligations consist of (1) core subscription services and (2) professional and other services.

(iii)

Determination of the transaction price

The transaction price is determined based on the consideration to which the Company expects to be entitled in exchange for transferring services to the customer. The transaction price includes SaaS subscription fees based on the contracted usage as well as variable consideration associated with overage fees on exceeded volume limits. Variable consideration is included in the transaction price if, in the Company’s judgment, it is probable that a significant future reversal of cumulative revenue under the contract will not occur. None of the Company’s contracts contain a significant financing component.

(iv)

Allocation of the transaction price to the performance obligations in the contract

Contracts that contain multiple performance obligations require an allocation of the transaction price to each performance obligation based on each performance obligation’s relative standalone selling price. Contracts typically have one performance obligation of providing access to the core subscription service. On occasion, contracts include professional services to customers, which are separate performance obligations. Professional services revenue has historically not been significant.

(v)

Recognition of the revenue when, or as, a performance obligation is satisfied

Revenue is recognized at the time the related performance obligation is satisfied by transferring the control of the promised service to a customer. For subscription services, revenue is recognized as the customer is given access to the core subscription service, in an amount that reflects the consideration that the Company expects to receive in exchange for access to the services. With respect to professional services, the Company recognizes revenue as services are delivered. The Company generates all its revenue from contracts with customers.

Subscription revenue

The Company generates revenue from subscription services including SaaS subscriptions and customer support services subject to contractual subscription terms. SaaS subscriptions enable customers to access and send event volume data to the Company’s cloud-based platform. Subscription arrangements with customers do not provide the customer with the right to take possession of the Company’s software at any time. Instead, customers are granted continuous access to the platform over the contractual period. A time-elapsed method is used to measure progress because the Company’s obligation is to provide continuous service over the contractual period and control is transferred evenly over the contractual period. Accordingly, the fixed consideration related to subscription revenue is recognized ratably over the contract term beginning on the date access to the subscription product is provisioned. Typical subscription terms are in increments of 12 months with various payment terms ranging from monthly to annual up-front payments. Most contracts are non-cancellable over the contractual term and are subject to standard terms and conditions; however, certain contracts contain nonstandard terms that may impact the timing of revenue recognition. Some customers have the option to purchase additional subscription services at a stated price. These options are evaluated on a case-by-case basis but generally do not provide a material right as they do not provide a discount to the customer that is incremental to the range of discounts typically given for the same services that are sold to a similar class of customers, even when the stand-alone selling price of the services subject to the option is highly variable.

Remaining performance obligations

The Company’s contracts with customers generally include one combined performance obligation, its core subscription offering, which is a series of distinct services transferred to the customer ratably over the respective obligation’s term. Other performance obligations that may be identified in contracts include professional services. As of December 31, 2024, the unrecognized transaction price related to remaining performance obligations was $308.6 million.

The Company’s remaining performance obligations as of December 31, 2024 are expected to be recognized as follows (in thousands):


	As of December 31, 2024		As of December 31, 2023

Less than or equal to 12 months	$	223,320	$	188,456
Greater than 12 months		85,315		50,962
Total remaining performance obligations	$	308,635	$	239,418

Disaggregation of Revenue

The following table shows the Company’s disaggregation of revenue by geographic areas, as determined based on the address of the Company's customers (in thousands):


	Year Ended December 31,
	2024		2023		2022
United States	$	180,091	$	167,919	$	146,415
International		119,181		108,365		91,652
Total revenue	$	299,272	$	276,284	$	238,067

Accounts Receivable, Net

Accounts receivable are primarily comprised of cash due from customers and are recorded at the invoiced amount, net of an allowance for doubtful accounts. The Company has a well-established collections history from its customers. Credit is extended to customers based on an evaluation of their financial condition and other factors. In determining the necessary allowance for doubtful accounts, the Company estimates the lifetime expected credit losses against the existing accounts receivable balance. The Company's estimate is based on certain factors including historical loss rates, current economic conditions, reasonable and supportable forecasts, and customer-specific circumstances. The Company maintained an allowance of $1.4 million and $1.1 million for doubtful accounts as of December 31, 2024 and 2023, respectively. The movements in the allowance for doubtful accounts were not material for any of the periods presented. The Company does not have any off-balance-sheet credit exposure related to its customers.

Concentration of Risk and Significant Customers

Financial instruments that subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, restricted cash, marketable securities, and accounts receivable. Although the Company deposits its cash with high-quality, credit-rated financial institutions, the deposits, at times, may exceed federally insured limits. The Company has not experienced any losses on its deposits of cash and cash equivalents.

No customer accounted for 10% or more of total revenue for the years ended December 31, 2024, 2023, and 2022. As of December 31, 2024, no customers represented 10% or more of accounts receivable. As of December 31, 2023, one customer represented 10% of accounts receivable.

Deferred Revenue

Deferred revenue consists of billings of payments received in advance of revenue recognition and is recognized when, or as, performance obligations are satisfied. The Company generally invoices its customers annually or in semi-annual, quarterly, or monthly installments. Accordingly, the deferred revenue balance does not represent the total contract value of annual non-cancellable subscription agreements. The amount of revenue recognized in the years ended December 31, 2024 and 2023 that was included in deferred revenue at the beginning of the period was $102.0 million and $89.6 million, respectively.

Deferred Commissions

The Company capitalizes sales commissions that are recoverable and incremental due to the acquisition of customer contracts. The Company determines whether costs should be deferred based on its sales compensation plans, if the commissions are in fact incremental and would not have occurred absent the customer contract.

Commissions paid upon the initial acquisition of a contract are deferred and then amortized on a straight-line basis over a period of benefit, determined to be five years. The period of benefit is estimated by considering factors such as the expected life of the Company's subscription contracts, historical customer attrition rates, technological life of the Company's platform, as well as other factors. Sales commissions for renewal of a subscription contract are not considered commensurate with the commissions paid for the acquisition of the initial subscription contract given the substantive difference in commission rates between new and renewal contracts. The Company determines the period of benefit for renewal subscription contracts by considering the contractual term for renewal contracts.

Amounts anticipated to be recognized within 12 months of the balance sheet date are recorded as deferred commissions, current, with the remaining portion recorded as deferred commissions, noncurrent, in the consolidated balance sheets. Amortization of deferred commissions is included in sales and marketing expense in the consolidated statement of operations and comprehensive loss. The Company periodically reviews these deferred commissions to determine whether events or changes in circumstances have occurred that could impact recoverability or the period of benefit. There were no impairment losses recorded during the periods presented.

The following table represents a roll-forward of the Company’s deferred commissions as of December 31, 2024 and 2023 (in thousands):


	Year Ended December 31,
	2024			2023
Beginning balance	$	38,386		$	36,717
Additions to deferred commissions		18,551			13,656
Amortization of deferred commissions		(14,286	)		(11,987	)
Ending balance		42,651			38,386
Deferred commissions, current portion		14,954			11,444
Deferred commissions, net of current portion		27,697			26,942
Total deferred commissions	$	42,651		$	38,386

Cost of Revenue

Cost of revenue primarily consists of costs related to third-party hosting costs; employee-related expenses, including salaries, stock-based compensation and benefits for operations and support personnel; software license fees; certain developed technology and acquired developed software amortization; and allocated overhead.

Research and Development Expense

The Company’s costs related to research, design, maintenance, and minor enhancements of the Company’s platform are expensed as incurred. These costs consist primarily of personnel-related expenses, including stock-based compensation and allocated overhead costs, contractor and consulting fees related to the design, development, testing, and enhancements of the Company’s platform, and software, hardware, and cloud infrastructure fees for staging and development related to research and development activities necessary to support growth in the Company’s employee base and in the adoption of its platform.

Advertising Costs

The Company expenses all advertising costs as incurred as a component of sales and marketing expenses. Advertising expenses of $5.9 million, $5.5 million, and $5.8 million were incurred during the years ended December 31, 2024, 2023, and 2022, respectively.

Share-Based Compensation

Stock-Based Compensation

The Company records stock-based compensation expense for all stock-based awards, including stock options, restricted stock units (“RSUs”) and purchase rights issued under the 2021 Employee Stock Purchase Plan (“ESPP”), made to employees, non-employees, and directors based on estimated fair values recognized over the requisite service period. The Company measures and recognizes compensation expense for all stock-based payment awards granted to employees, directors, and non-employees based on the estimated fair values on the date of the grant and vesting criteria. For options, vesting is typically over a four-year period and is contingent upon continued employment on each vesting date. In general, options granted to newly hired employees vest ratably each month over a 36-month period to 48-month period. RSUs typically vest ratably each quarter over a three-year period and is contingent upon continued employment on each vesting date.

The Company recognizes compensation expense for service-based stock-based awards as an expense over the employee’s or director’s requisite service period on a straight-line basis. Forfeitures are accounted for as they occur. Stock-based compensation expense is allocated to cost of revenue and operating expenses on the consolidated statements of operations and comprehensive loss based on where the associated employee’s functional department is located.

The fair value of stock options granted under the 2021 Plan and purchase rights issued under the ESPP for purposes of calculating stock-based compensation expense is estimated on the grant date using the Black-Scholes pricing model. The Black-Scholes pricing model requires the Company to make assumptions and judgments about the inputs used in the calculation, including

the expected term (weighted-average period of time that the options granted are expected to be outstanding), the volatility of the Company’s common stock, risk-free interest rate, and expected dividend yield. The expected term represents the period that the Company’s stock-based awards are expected to be outstanding. For stock options considered to be “plain vanilla” options, the Company estimates the expected term based on the simplified method, which is essentially the weighted average of the vesting period and contractual term, as the Company's historical option exercise experience does not provide a reasonable basis upon which to estimate the expected term. Depending on when the award was issued, the volatility is based on the historical volatility of the Company's Class A common stock or is based on an average of the historical volatilities of the common stock of comparable public companies with characteristics similar to those of the Company. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods corresponding with the expected life of the option or purchase right. The Company’s expected dividend yield input is zero as it has not historically paid, nor does it expect in the future to pay, cash dividends on its common stock. Stock-based compensation expense for RSUs granted under the 2021 Plan is measured based on the fair value of the underlying shares on the date of grant.

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 basis and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income or loss 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. Valuation allowances are established for deferred tax assets to the extent it is more likely than not that the deferred tax assets may not be realized.

The Company evaluates uncertain tax positions taken or expected to be taken in the course of preparing its tax return to determine whether the tax positions are more likely than not of being sustained upon challenge by the applicable tax authority. 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 greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs.

Cash, Cash Equivalents, and Restricted Cash

The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. Cash and cash equivalents are stated at fair value. Restricted cash represents cash held to collateralize lease obligations related to the Company's property leases. As of December 31, 2024, $0.9 million of restricted cash was recorded as current assets. As of December 31, 2023, $0.9 million of restricted cash was recorded as noncurrent assets. The following table represents the Company's cash, cash equivalents, and restricted cash at each period end (in thousands):


	As of December 31,
	2024		2023
Cash and cash equivalents	$	171,678	$	248,491
Restricted cash, current		881		—
Restricted cash, noncurrent		—		869
Total cash, cash equivalents, and restricted cash	$	172,559	$	249,360

Investments in Marketable Securities

Investments in marketable securities consist of commercial paper, corporate notes, and bonds, as well as U.S. Treasury and government agency securities. Management determines the appropriate classification of investments at the time of purchase and reevaluates such determination at each balance sheet date. Marketable securities are classified as available-for-sale and are carried at fair value in the consolidated balance sheets and are classified as short-term or long-term based on their remaining contractual maturities.

The Company evaluates its investments with unrealized loss positions at the individual security level to determine whether the unrealized loss was related to credit or noncredit factors. The Company considers whether a credit loss exists based on the extent of the unrealized loss position, any adverse conditions specifically related to the security or the issuer's operating environment, pay structure of the security, the issuer's payment history and any changes in the issuer's credit rating. Estimated credit losses are determined using a discounted cash flow model and recorded as an allowance, with changes in expected credit losses on the Company's investments recorded in “Other income (expense), net” in the consolidated statements of operations and comprehensive loss. Unrealized gains and losses related to noncredit factors are reflected in “Accumulated other comprehensive income (loss)” on the consolidated balance sheets.

Fair Value Measurement

Fair Value Measurements

The Company determines fair value based upon the exit price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants, as determined by either the principal market or the most advantageous market. Inputs used in the valuation techniques to derive fair values are classified based on a three-level hierarchy. These levels are:

Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities that are accessible at the measurement date for assets or liabilities; the fair value hierarchy gives the highest priority to Level 1 inputs.

Level 2 – Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3 – Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at the measurement date; the fair value hierarchy gives the lowest priority to Level 3 inputs.

Observable inputs are based on market data obtained from independent sources. The fair value of cash, restricted cash, accounts receivable, accounts payable, and accrued liabilities approximated their carrying values as of December 31, 2024 and 2023 due to their short-term nature. The fair values of all of these instruments are categorized as Level 1 in the fair value hierarchy. The fair value of the Company's cash equivalents and marketable securities as categorized by the fair value level hierarchy is detailed in Note 3.

Business Combinations

The Company applies a screen test to evaluate if substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets to determine whether a transaction is accounted for as an asset acquisition or business combination. When the Company acquires a business, the purchase consideration is allocated to the tangible assets acquired, liabilities assumed, and intangible assets acquired based on their estimated respective fair value using the acquisition method of accounting. The excess of the fair value of purchase consideration over the values of these identifiable assets and liabilities is recorded as goodwill. When determining the fair value of assets acquired and liabilities assumed, management makes significant estimates and assumptions, particularly to acquired intangible assets. These assumptions include, but are not limited to, projected revenue and costs. Management’s estimates of fair value are based upon assumptions believed to be reasonable, but which are inherently uncertain and unpredictable and, as a result, actual results may differ from estimates. Acquisition costs, such as legal and consulting fees, are expensed as incurred. During the measurement period, the Company may record adjustments to the assets acquired and liabilities assumed, with the corresponding offset to goodwill. Upon the conclusion of the measurement period, any subsequent adjustments are recorded in the consolidated statement of operations and comprehensive loss.

Goodwill and Other Acquired Intangible Assets

Goodwill represents the excess of the purchase price over the fair value of net assets acquired in connection with business combinations accounted for using the acquisition method of accounting. The Company has one reporting unit and performs testing of goodwill in the fourth quarter of each year, or as events occur or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. These triggering events that may indicate impairment include, but are not limited to, a significant adverse change in customer demand or business climate that could affect the value of goodwill or a significant decrease in expected cash flows. The Company’s test for goodwill impairment starts with a qualitative assessment to determine whether it is necessary to perform the quantitative goodwill impairment test. If the Company determines, based on the qualitative factors, that the fair value of the reporting unit is more likely than not less than the carrying amount, then a quantitative goodwill impairment test is required. There were no impairments of goodwill recorded for the years ended December 31, 2024, 2023, and 2022.

Intangible assets mainly consist of developed technology resulting from the Company’s acquisitions. Acquired intangible assets are recorded at cost, net of accumulated amortization. Intangible assets are amortized on a straight-line basis over their estimated useful lives, which was determined to be one to five years based on the intangible asset class. For developed technology, amortization costs were included within cost of revenue in the consolidated statements of operations upon the related product release date. Long-lived assets, including intangible assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. There was no impairment of intangible assets recorded for the years ended December 31, 2024, 2023, and 2022.

Property and Equipment, Net

Property and equipment are stated at cost less accumulated depreciation. Depreciation is calculated on a straight-line basis over the estimated useful lives of those assets, as follows:


Property		Useful Life

Office equipment		3 years
Furniture and fixtures		3 years
Leasehold improvements		Shorter of remaining lease term or 5 years
Software including internal-use software		3 years

Maintenance and repairs are charged to expense as incurred and improvements are capitalized. When assets are retired or otherwise disposed of, the cost and accumulated depreciation is removed from the accounts and any resulting gain or loss is reflected in the statements of operations and comprehensive loss for the period realized.

Operating Leases

The Company determines if an arrangement is, or contains, a lease at inception. Leases arise from contractual obligations that convey the right to control the use of identified property, plant or equipment for a period of time in exchange for consideration. The Company determines whether an arrangement is or contains a lease at inception, based on whether there is an identified asset and whether the Company controls the use of the identified asset throughout the period of use. At lease commencement date, the Company determines lease classification between finance and operating, allocates the consideration to the lease and non-lease components and recognizes a right-of-use (“ROU”) asset and corresponding lease liability for each lease component. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments based on the lease contracts.

Operating lease ROU assets and liabilities were recognized at adoption date or lease commencement date, based on the present value of lease payments over the remaining lease term. The Company’s lease contracts do not provide an implicit rate, as such the Company used its incremental borrowing rate based on the information available at adoption date or lease commencement date, if the commencement date was after January 1, 2022, in determining the present value of lease payments. The operating lease ROU assets also include any lease payments made to the lessors at or before the lease commencement date, and excludes lease incentives. The lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option.

The lease liability is initially measured as the present value of the remaining lease payments over the lease term. The discount rate used to determine the present value is the Company's incremental borrowing rate unless the interest rate implicit in the lease is readily determinable. The Company estimates the incremental borrowing rate based on the information available at lease commencement date for borrowings with a similar term. The ROU asset is initially measured as the present value of the lease payments, adjusted for initial direct costs, prepaid lease payments to lessors and lease incentives. The operating lease right-of-use assets and liabilities recognized at January 1, 2022, the adoption date, were based on the present value of lease payments over the remaining lease term as of that date, using the incremental borrowing rate as of that date.

The Company elected the practical expedients to not recognize right-of-use assets and liabilities for leases with a term of less than twelve months and to not separate non-lease components from the associated lease components for the Company's office leases and certain other asset classes. The total consideration includes fixed payments and contractual escalation provisions. The Company is responsible for maintenance, insurance, property taxes and other variable payments, which are expensed as incurred. The Company's leases include options to renew or terminate. The Company includes the option to renew or terminate in the determination of the lease term when the option is deemed to be reasonably certain that the Company will exercise that option. The Company accounts for changes in the expected lease term as a modification of the original contract.

Operating leases are classified in “Operating lease right-of-use assets” and “Operating lease liabilities, noncurrent” on the Company's consolidated balance sheets. The current balance of the operating lease liabilities is included within “Accrued expenses” on the Company's consolidated balance sheets. Operating lease expense is recognized on a straight-line basis over the expected lease term and included in “Operating expenses” in the Company's consolidated statements of operations and comprehensive loss.

Capitalized Internal-Use Software Costs

The Company capitalizes development costs related to its platform and certain other projects for internal use. The Company considered the guidance set forth in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Subtopic 350-40-15, Accounting for the Cost of Computer Software Developed or Obtained for Internal Use, which requires companies to capitalize qualifying computer software costs that are incurred during the application development stage, and then amortize them over the software’s estimated useful life. Costs related to preliminary project activities and post-implementation activities are expensed as incurred. Capitalized internal-use software costs are included in “Property and equipment, net” on the Company's consolidated balance sheets and are amortized on a straight-line basis over its estimated useful life into cost of revenue within the consolidated statements of operations and comprehensive loss. All software development costs prior to capitalization have been recorded in research and development expense in the consolidated statements of operations. There was no impairment to capitalized internal-use software costs during the years ended December 31, 2024, 2023, and 2022.

Impairment of Long-Lived Assets

The Company evaluates long-lived assets or asset groups for impairment whenever events indicate that the carrying value of an asset or asset group may not be recoverable based on expected future cash flows attributable to that asset or asset group. 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 estimated undiscounted future cash flows, then an impairment charge would be recognized based on the excess of the carrying amount of the asset or asset group over its fair value. No impairment loss on long-lived assets was recognized in the years ended December 31, 2024, 2023, and 2022.

Net Loss Per Share

Basic net loss per share attributable to the Company’s common stockholders is computed in conformity with the two-class method required for participating securities. 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, all 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, therefore, the same for both Class A and Class B common stock on both an individual and a combined basis.

Basic net loss per share is computed by dividing the net loss attributable to the Company’s common stockholders by the weighted-average number of shares of common stock outstanding during the period. Diluted net loss per share is the same as basic net loss per share for all periods presented because the effects of potentially dilutive items were anti-dilutive given the Company’s net loss position in each period presented.

Indemnifications and Warranties

Indemnifications

The Company delivers its applications over the internet as a subscription service using a SaaS model. Each subscription is subject to the terms of the contractual arrangement with the customer and often includes certain provisions for holding the customer harmless against and indemnifying the customer from costs, damages, losses, liabilities, and expenses arising from claims that the Company’s software infringes upon a copyright, trademark, or other trade secret rights, and third-party claims arising from the Company’s breach of the contract. Customers also indemnify the Company for claims relating their improper use of the service or intellectual property claims originating from customer actions or content.

The Company has not incurred any expense in defense or reimbursement of any of its customers for losses related to indemnification provisions, and no material claims against the Company are outstanding as of December 31, 2024, 2023, and 2022. The Company’s exposure under these indemnification provisions is often capped at a fixed amount in many customer agreements and uncapped in others. Due primarily to the lack of history of prior indemnification claims and the unique facts and circumstances involved in each particular contractual arrangement, the Company has determined that potential costs related to indemnification are not probable or estimable and, as such, has not recorded a reserve for the years ended December 31, 2024 and 2023.

In addition, in the ordinary course of business, the Company may provide indemnifications of varying scope and terms to vendors, directors, officers, and other parties with respect to certain matters. The Company has not incurred any material costs as a result of such indemnifications and have not accrued any liabilities related to such obligations in its consolidated financial statements.

Warranties

For certain customers, the Company provides a performance warranty for accessibility to the Company’s platform as identified in an order form during the order duration. The Company’s software products are generally warranted for certain customers to substantially conform to the specifications set forth in the related customer contract and published documentation. In the event there is a failure of such warranties, the Company generally will correct the problem or provide a reasonable workaround or replacement product. The Company has the standard 30-day cure period for failures that amount to a material breach, and no warranted time frame for nonmaterial failures. If the Company cannot correct or provide a workaround or replacement product for material failures within the cure period, then the customer’s remedy is generally limited to termination of the contractual arrangement related to the nonconforming product services with a pro rata refund of the related fees paid. The Company has not incurred significant expense under these service warranties, nor does it expect that any future expense is probable. Accordingly, the Company has determined that potential costs related to warranties are not probable or estimable and, as such, has not recorded a reserve as of December 31, 2024 and 2023.

Recently Adopted Accounting Pronouncements

In November 2023, the FASB issued Accounting Standards Update (“ASU”) No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The amendments improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. All disclosure requirements of ASU 2023-07 are required for entities with a single reportable segment. Upon adoption, the guidance should be applied retrospectively to all prior periods presented in the financial statements. The new standard is effective for the Company for the annual periods beginning January 1, 2024, and for interim periods beginning January 1, 2025. The Company adopted the standard as of January 1, 2024.

Recently Issued Accounting Pronouncements

In December 2023, the FASB issued Accounting Standards Update (“ASU”) No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires that an entity, on an annual basis, disclose additional income tax information, primarily related to the rate reconciliation and income taxes paid. The amendment in the ASU is intended to enhance the transparency and decision usefulness of income tax disclosures. The amendments in this ASU are effective for annual periods beginning after December 15, 2024. The Company is currently evaluating the impact of the new standard on its consolidated financial statements which is expected to result in enhanced disclosures.

In November 2024, the FASB issued ASU 2024-03, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, requiring public entities to disclose additional information about specific expense categories in the notes to the financial statements on an interim and annual basis. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and for interim periods beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2024-03.

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net loss	$ (94,319)	$ (90,363)	$ (93,377)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	6,107	5,620	4,662
Stock-based compensation expense	100,019	88,285	67,223
Other	283	(301)	42
Non-cash operating lease costs	3,985	3,917	3,731
Changes in operating assets and liabilities:
Accounts receivable	2,205	(8,448)	(2,427)
Prepaid expenses and other current assets	(2,324)	3,711	(1,014)
Deferred commissions	(4,264)	(1,670)	(8,032)
Other noncurrent assets	(3,181)	2,050	5,036
Accounts payable	(1,987)	2,498	(2,884)
Accrued expenses	10,516	11,873	4,574
Deferred revenue	6,354	12,580	20,698
Operating lease liabilities	(4,888)	(4,122)	(3,616)
Net cash provided by (used in) operating activities	18,506	25,630	(5,384)
Cash flows provided by (used in) investing activities:
Cash received from maturities of marketable securities	93,750	12,500	0
Purchases of marketable securities	(146,270)	0	(83,190)
Purchase of property and equipment	(1,725)	(1,279)	(3,632)
Capitalization of internal-use software costs	(5,053)	(1,904)	(2,177)
Cash paid for acquisitions, net of cash acquired	(16,068)	0	(394)
Net cash provided by (used in) investing activities	(75,366)	9,317	(89,393)
Cash flows provided by (used in) financing activities:
Proceeds from the exercise of stock options	6,506	4,619	6,910
Cash received for tax withholding obligations on equity award settlements	4,578	13,427	17,992
Cash paid for tax withholding obligations on equity award settlements	(31,025)	(22,334)	(19,056)
Repurchase of unvested stock options	0	(648)	(15)
Net cash provided by (used in) financing activities	(19,941)	(4,936)	5,831
Net increase (decrease) in cash, cash equivalents, and restricted cash	(76,801)	30,011	(88,946)
Cash, cash equivalents, and restricted cash at beginning of period	249,360	219,349	308,295
Cash, cash equivalents, and restricted cash at end of period	172,559	249,360	219,349
Supplemental disclosure of cash flow information:
Cash paid for income taxes	491	454	424
Non-cash investing and financing activities:
Vesting of early exercised options	20	715	2,323
Purchases of property and equipment included in liabilities	0	86	11
Stock-based compensation capitalized as internal-use software costs	5,014	1,737	1,353
Issuance of common stock in connection with business combinations	$ 6,836	$ 0	$ 0

Acquisitions, Intangible Assets, and Goodwill (Tables)

12 Months Ended

Dec. 31, 2024

Intangible Assets And Goodwill Disclosure [Abstract]

Schedule of useful lives of the acquired intangible asset

The useful lives of the acquired intangible assets are as follows:


Intangible Asset		Useful Life

Developed technology		5 years
Customer related		3 years
Trade name		1 year

Schedule of Intangible Assets, Net

Intangible assets, net consisted of the following (in thousands):


		As of December 31, 2024										As of December 31, 2023
		Gross Carrying Amount			Accumulated Amortization				Net Carrying Amount			Gross Carrying Amount			Accumulated Amortization				Net Carrying Amount

Developed technology	$		9,250	$		(5,708	)	$		3,542	$		5,550	$		(5,258	)	$		292
Customer related			1,631			(880	)			751			931			(614	)			317
Trade name			90			(19	)			71			—			—				—
Intangible assets, net	$		10,971	$		(6,607	)	$		4,364	$		6,481	$		(5,872	)	$		609

Schedule of Expected Future Amortization Expense

As of December 31, 2024, future amortization expense is expected to be as follows (in thousands):


	Amount
2025	$	1,145
2026		972
2027		923
2028		741
2029		583
Total	$	4,364

Condensed Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders' Equity (Deficit) - USD ($) $ in Thousands	Total	Additional Paid-in Capital	Accumulated other comprehensive	Accumulated Deficit	Common Stock [Member] Class A and Class B common stock
Beginning balance at Dec. 31, 2021	$ 306,548	$ 486,354		$ (179,807)	$ 1
Beginning balance, Shares at Dec. 31, 2021					109,876
Stock-based compensation expense	68,576	68,576
Exercise of stock options	6,899	6,899
Exercise of stock options, Shares					2,499
Vesting of early exercised stock options	2,323	2,323
Issuance of common stock under employee stock purchase plan, shares					350
Issuance of common stock under employee stock purchase plan	4,738	4,738
Repurchase of unvested stock options	(1)	(1)
Repurchase of unvested stock options, Shares					(8)
Vesting of restricted stock awards, Shares					1,482
Net Income (Loss)	(93,377)			(93,377)
Other comprehensive income (loss), net	(754)		$ (754)
Cumulative impact of Topic 842 adoption	17			17
Ending balance at Dec. 31, 2022	294,969	568,889	(754)	(273,167)	$ 1
Ending balance, Shares at Dec. 31, 2022					114,199
Stock-based compensation expense	90,022	90,022
Exercise of stock options	4,619	4,619
Exercise of stock options, Shares					1,651
Vesting of early exercised stock options	715	715
Issuance of common stock under employee stock purchase plan, shares					474
Issuance of common stock under employee stock purchase plan	4,062	4,062
Tax withholding on net share settlement of restricted stock units	(9,844)	(9,844)
Tax withholding on net share settlement of restricted stock units, Shares					(891)
Repurchase of unvested stock options, Shares					(177)
Vesting of restricted stock awards, Shares					4,754
Net Income (Loss)	(90,363)			(90,363)
Other comprehensive income (loss), net	573		573
Ending balance at Dec. 31, 2023	294,753	658,463	(181)	(363,530)	$ 1
Ending balance, Shares at Dec. 31, 2023					120,010
Stock-based compensation expense	105,033	105,033
Exercise of stock options	$ 6,506	6,506
Exercise of stock options, Shares	2,256,288				2,256
Vesting of early exercised stock options	$ 20	20
Issuance of common stock under employee stock purchase plan, shares					469
Issuance of common stock under employee stock purchase plan	3,755	3,755
Tax withholding on net share settlement of restricted stock units	(26,215)	(26,215)
Tax withholding on net share settlement of restricted stock units, Shares					(2,553)
Vesting of restricted stock awards, Shares					6,795
Issuance of common stock in connection with an acquisition	6,836	6,836
Issuance of common stock in connection with an acquisition, Shares					2,211
Net Income (Loss)	(94,319)			(94,319)
Other comprehensive income (loss), net	187		187
Ending balance at Dec. 31, 2024	$ 296,556	$ 754,398	$ 6	$ (457,849)	$ 1
Ending balance, Shares at Dec. 31, 2024					129,188

Operating Leases

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Operating Leases

(8)

Operating Leases

The components of lease expense were as follows (in thousands, except years and rate):


	Year Ended December 31,
	2024		2023
Operating lease cost	$	3,985	$	3,917
Short-term lease cost		959		894
Total lease cost	$	4,944	$	4,811


	As of December 31,
	2024			2023
Weighted average remaining term (years)		1.73			1.88
Weighted average discount rate		4.08	%		3.49	%

Supplemental cash flow information related to operating leases was as follows (in thousands):


	Year Ended December 31,
	2024		2023
Right-of-use assets obtained in exchange for new operating lease liabilities	$	2,209	$	1,079
Cash paid for operating lease liabilities	$	4,888	$	4,122

Future minimum lease payments under non-cancellable operating leases with initial lease terms in excess of one year included in the Company’s lease liabilities as of December 31, 2024 were as follows (in thousands):


Year ending December 31:
2025		3,811
2026		1,146
2027		781
2028		47
2029 and thereafter		—
Total undiscounted operating lease payments	$	5,785
Less: imputed interest		(201	)
Total operating lease liabilities	$	5,584

Stockholders' Equity and Equity Incentive Plans - fair value of shares to be granted under the ESPP utilizing the Black-Scholes option-pricing model (Details) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Expected dividend yield	0.00%	0.00%	0.00%
Expected volatility			60.00%
Minimum [Member]
Class of Stock [Line Items]
Fair value of common stock	$ 9.34	$ 9.98	$ 14.77
Risk-free interest rate	4.34%	4.75%	1.54%
Expected volatility	44.40%	56.80%
Expected term (years)	6 months	6 months	6 months
Maximum [Member]
Class of Stock [Line Items]
Fair value of common stock	$ 9.59	$ 10.76	$ 17.04
Risk-free interest rate	5.43%	5.41%	4.63%
Expected volatility	56.00%	60.00%
Expected term (years)	1 year	1 year	1 year

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Income Taxes - Schedule of Deferred Income Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Deferred tax assets:
Net operating loss carryforwards	$ 123,133	$ 111,904
Credit Carryforwards	29,143	22,428
Stock-based compensation	4,670	7,187
Accruals and reserves	2,961	550
Operating lease liability	1,402	2,049
Fixed assets	226	86
Capitalized research and development costs	31,971	25,277
Intangibles	0	428
Accumulated other comprehensive loss	2	45
Other	174	175
Gross tax assets	193,682	170,129
Valuation allowance	(184,238)	(161,456)
Realizable deferred tax assets	9,444	8,673
Deferred tax liabilities:
Deferred commission costs	(10,636)	(9,491)
Operating lease right-of-use assets	(1,328)	(1,720)
Intangibles	(550)	0
Gross deferred liabilities	(12,514)	(11,211)
Net deferred tax assets (liabilities)	$ (3,070)	$ (2,538)

Fair Value Measurements - Summarizes of fair value assets (Details) - USD ($)
$ in Thousands

Dec. 31, 2024

Dec. 31, 2023

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Amortized Cost

$ 276,855

$ 285,831

Gross Unrealized Gains

Gross Unrealized Losses

(181)

Estimated Fair Value

276,861

285,650

Fair Value Level 1 | Money market funds

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Amortized Cost

^[1]

137,374

211,741

Gross Unrealized Gains

^[1]

Gross Unrealized Losses

^[1]

Estimated Fair Value

^[1]

137,374

211,741

Fair Value Level 2 | U.S. governmental securities

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Amortized Cost

12,826

74,090

Gross Unrealized Gains

Gross Unrealized Losses

(181)

Estimated Fair Value

12,826

$ 73,909

Fair Value Level 2 | U.S. governmental and agency available-for-sale securities

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Amortized Cost

126,655

Gross Unrealized Gains

Gross Unrealized Losses

Estimated Fair Value

$ 126,661

[1]	Included in “Cash and cash equivalents” in the Company's consolidated balance sheets as of December 31, 2024 and 2023, in addition to cash of $21.5 million and $36.8 million, respectively.

Operating Leases - Components of lease expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Operating lease cost	$ 3,985	$ 3,917
Short-term lease cost	959	894
Total lease cost	$ 4,944	$ 4,811
Weighted average remaining term (years)	1 year 8 months 23 days	1 year 10 months 17 days
Weighted average discount rate	4.08%	3.49%

FairValueDisclosuresAbstract - Summarizes of fair value assets (Parenthetical) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Cash and cash equivalents	$ 21.5	$ 36.8

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Document and Entity Information - USD ($) $ in Millions	Dec. 31, 2024	Feb. 13, 2025	Jun. 30, 2024
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Entity Registrant Name	AMPLITUDE, INC.
Entity Central Index Key	0001866692
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Title of 12(b) Security	Class A Common Stock, $0.00001 par value per share
Trading Symbol	AMPL
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	DE
Entity File Number	001-40817
Entity Tax Identification Number	45-3937349
Entity Address, Address Line One	201 Third Street
Entity Address, Address Line Two	Suite 200
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94103
City Area Code	415
Local Phone Number	231-2353
ICFR Auditor Attestation Flag	true
Entity Public Float			$ 767.1
Document Annual Report	true
Document Transition Report	false
Auditor Name	KPMG LLP
Auditor Firm ID	185
Auditor Location	Santa Clara, California
Documents Incorporated by Reference [Text Block]	Portions of the registrant’s definitive proxy statement for the registrant’s 2025 annual meeting of stockholders, which will be filed with the Securities and Exchange Commission no later than 120 days after December 31, 2024, are incorporated by reference in Part III of this Annual Report on Form 10-K.
Auditor Opinion	Opinions on the Consolidated Financial Statements and Internal Control Over Financial Reporting We have audited the accompanying consolidated balance sheets of Amplitude, Inc. and subsidiaries (the Company) as of December 31, 2024 and 2023, the related consolidated statements of operations and comprehensive loss, stockholders’ equity, and cash flows for each of the years in the three-year period ended December 31, 2024, and the related notes (collectively, the consolidated financial statements). We also have audited the Company’s internal control over financial reporting as of December 31, 2024, based on criteria established in Internal Control – Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission. In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of the Company as of December 31, 2024 and 2023, and the results of its operations and its cash flows for each of the years in the three-year period ended December 31, 2024, in conformity with U.S. generally accepted accounting principles. Also in our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of December 31, 2024 based on criteria established in Internal Control – Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission.
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		96,317,761
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		33,093,043

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Summarizes of fair value assets

The following table summarizes, for financial assets measured at fair value, the respective fair value and classification by level of input within the fair value hierarchy (in thousands):


		As of December 31, 2024
		Amortized Cost			Gross Unrealized Gains			Gross Unrealized Losses			Estimated Fair Value
Level 1:
Cash equivalents(1)
Money market funds	$		137,374	$		—	$		—	$		137,374
Level 2:
Cash equivalents(1)
U.S. governmental and agency securities			12,826			—			—			12,826
Available-for-sale securities
U.S. governmental and agency securities			126,655			6			—			126,661
Total	$		276,855	$		6	$		—	$		276,861


		As of December 31, 2023
		Amortized Cost			Gross Unrealized Gains			Gross Unrealized Losses				Estimated Fair Value
Level 1:
Cash equivalents(1)
Money market funds	$		211,741	$		—	$		—		$		211,741
Level 2:
Available-for-sale securities
U.S. governmental and agency securities			74,090			—			(181	)			73,909
Total	$		285,831	$		—	$		(181	)	$		285,650

(1)

Included in “Cash and cash equivalents” in the Company's consolidated balance sheets as of December 31, 2024 and 2023, in addition to cash of $21.5 million and $36.8 million, respectively.

Schedule of available for sale securities reconciliation

The fair value of the Company's available-for-sale securities as of December 31, 2024, by remaining contractual maturities, was as follows (in thousands):


	As of December 31, 2024
Due in one year or less	$	69,419
Due in greater than one year		57,242
Total	$	126,661

Balance Sheet Components - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Property Plant And Equipment [Line Items]
Total property and equipment	$ 28,116	$ 17,430
Less accumulated depreciation and amortization	(11,783)	(7,362)
Property and equipment, net	16,333	10,068
Office Equipment
Property Plant And Equipment [Line Items]
Total property and equipment	4,886	4,427
Furniture and Fixtures
Property Plant And Equipment [Line Items]
Total property and equipment	1,376	1,237
Leasehold Improvements
Property Plant And Equipment [Line Items]
Total property and equipment	1,320	1,299
Internal-use software
Property Plant And Equipment [Line Items]
Total property and equipment	$ 20,534	$ 10,467

Stockholders' Equity and Equity Incentive Plans - Schedule of Stock Based Compensation Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Class Of Stock [Line Items]
Total stock-based compensation expense	$ 100,019	$ 88,285	$ 67,223
Cost of Revenue
Class Of Stock [Line Items]
Total stock-based compensation expense	6,472	7,300	6,468
Research and Development
Class Of Stock [Line Items]
Total stock-based compensation expense	44,421	36,643	27,855
Sales and Marketing
Class Of Stock [Line Items]
Total stock-based compensation expense	32,119	29,404	17,143
General and Administrative
Class Of Stock [Line Items]
Total stock-based compensation expense	17,007	14,085	15,757
Restructuring and other related charges
Class Of Stock [Line Items]
Total stock-based compensation expense	$ 0	$ 853	$ 0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Acquisitions, Intangible Assets, and Goodwill - Schedule of Expected Future Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Intangible Assets And Goodwill Disclosure [Abstract]
2025	$ 1,145
2026	972
2027	923
2028	741
2029	583
Total	$ 4,364	$ 609

Net Loss Per Share (Tables)

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Net Loss Per Share

The following table presents the calculation of basic and diluted net loss per share (in thousands, except per share data):


	Year Ended December 31,
	2024			2023			2022

Net loss attributable to Class A and Class B common stockholders	$	(94,319	)	$	(90,363	)	$	(93,377	)
Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders, basic and diluted		123,900			116,938			111,437
Net loss per share attributable to Class A and Class B common stockholders, basic and diluted	$	(0.76	)	$	(0.77	)	$	(0.84	)

Schedule of Ant-dilutive Securities Excluded from Calculation of Diluted Net Loss Per Share

The following potential shares of common stock were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive for the periods presented (in thousands):


	As of December 31,
	2024		2023		2022
Equity plan stock options outstanding		11,502		14,268		16,768
Equity plan stock options early exercised		—		5		235
RSUs outstanding		13,520		11,301		9,914
Restricted shares		301		—		241
Shares issuable pursuant to the ESPP		549		449		558
Total		25,872		26,023		27,716

Summary of Business and Significant Accounting Policies - Summary of Deferred Commissions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
Beginning balance	$ 38,386	$ 36,717
Additions to deferred commissions	18,551	13,656
Amortization of deferred commissions	(14,286)	(11,987)
Ending balance	42,651	38,386
Deferred commissions, current portion	14,954	11,444
Deferred commissions, net of current portion	27,697	26,942
Total deferred commissions	$ 42,651	$ 38,386

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2024 shares
Catherine Wong
Trading Arrangements, by Individual
Name	Catherine Wong
Title	member of our board of directors
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	December 10, 2024
Rule 10b5-1 Arrangement Terminated	true
Termination Date	December 31, 2025
Aggregate Available	15,532
Eric Vishria
Trading Arrangements, by Individual
Name	Eric Vishria
Title	member of our board of directors
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	December 13, 2024
Rule 10b5-1 Arrangement Terminated	true
Termination Date	May 29, 2026
Aggregate Available	210,500

Summary of Business and Significant Accounting Policies-Summary of Remaining Performance Obligations (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
Less than or equal to 12 months	$ 223,320	$ 188,456
Greater than 12 months	85,315	50,962
Total remaining performance obligations	$ 308,635	$ 239,418

Commitments and Contingencies

12 Months Ended

Dec. 31, 2024

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

(9)

Commitments and Contingencies

Legal Matters

On February 14, 2024, a putative securities class action captioned Chicago & Vicinity Laborers’ District Council Pension Fund v. Amplitude, Inc., et al., Case No. 3:24-cv-00898 (the “Securities Class Action”) was filed in the United States District Court for the Northern District of California, naming the Company, its Chief Executive Officer, and its former Chief Financial Officer as defendants. The lawsuit is purportedly brought on behalf of all those who purchased or acquired the Company’s common stock between September 21, 2021 and February 16, 2022. The complaint alleges claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended, based on allegedly false or misleading statements related to the Company’s business and financial outlook. The lawsuit seeks unspecified damages and other relief. The defendants filed a motion to dismiss the complaint on July 12, 2024, which was granted with leave to amend on October 2, 2024. The plaintiffs filed an amended complaint on October 23, 2024. The defendants filed a motion to dismiss the amended complaint on November 13, 2024, and, on January 13, 2025, the court dismissed the amended complaint with prejudice and entered judgment in favor of the defendants.

On June 10, 2024, a shareholder derivative complaint captioned Hawkins v. Spenser Skates, et al., Case No. 3:24-cv-03460 (the “Derivative Action”) was filed in the United States District Court for the Northern District of California, naming the Company’s Chief Executive Officer, its former Chief Financial Officer, and the current and former members of the Company’s board of directors as defendants. The complaint, purportedly brought on behalf of the Company, alleges claims for breach of fiduciary duty, unjust enrichment, waste of corporate assets, abuse of control, gross mismanagement, and contribution for alleged wrongdoing by the Company’s directors and officers from September 21, 2021 through February 16, 2022. The complaint seeks unspecified damages and other relief. The Derivative Action is stayed pending a resolution of any motions to dismiss the Securities Class Action.

On August 8, 2024, a putative privacy class action captioned Atkins v. Amplitude, Inc., Case No. 3:24-cv-04913 was filed in the United States District Court for the Northern District of California, naming the Company as a defendant. The lawsuit is purportedly brought on behalf of all individuals who downloaded and used an application on their mobile device that embedded the Company’s Software Development Kit (“SDK”) and did not publicly disclose the Company in the application’s notices or disclosures. The complaint asserts claims under the Federal Wiretap Act, California Wiretap Act, California Invasion of Privacy Act, and California Comprehensive Computer Data Access and Fraud Act. The complaint seeks statutory damages and other relief. The plaintiffs filed an amended complaint on November 15, 2024. The Company filed a motion to dismiss the amended complaint on January 7, 2025.

On September 18, 2024, an individual privacy action captioned Shah v. Amplitude, Inc., Case No. 2:24-cv-08155-MEMF-JPR was filed in the United States District Court for the Central District of California, naming the Company as a defendant. The lawsuit is brought by an individual who alleges to have used an application on his mobile device that embedded the SDK without explicitly identifying the Company in the application’s notices or disclosures. The complaint asserts claims under the Federal Wiretap Act, California Wiretap Act, California Invasion of Privacy Act, and California Comprehensive Computer Data Access and Fraud Act. The complaint seeks statutory damages and other relief. On December 4, 2024, the court stayed the case pending final resolution of Atkins v. Amplitude, Inc., Case No. 3:24-cv-04913 (N.D. Cal.).

On October 7, 2024, a putative privacy class action captioned Willey v. Amplitude, Inc., Case No. 1:24-cv-07577 was filed in the United States District Court for the Southern District of New York. The lawsuit was purportedly brought on behalf of all persons who accessed the Oscar Health website or application in Pennsylvania and entered information in response to prompts in the “Find a Plan” function. The complaint alleged that the Company’s services operate on the Oscar Health website and application to intercept information submitted by users for a health insurance quote. The complaint asserted a claim under Pennsylvania’s Wiretapping and Electronic Surveillance Act. The complaint sought unspecified damages and other relief. On December 5, 2024, the plaintiff voluntarily dismissed the case and re-filed in the Superior Court of the State of California. The Company removed the case to the United States District Court for the Northern District of California on December 16, 2024. On January 27, 2025, the plaintiff voluntarily dismissed the case.

The Company has received, and may in the future continue to receive, claims from third parties asserting, among other things, infringement of their intellectual property rights. Future litigation may be necessary to defend the Company, its partners and its customers by determining the scope, enforceability and validity of third-party proprietary rights, or to establish its proprietary rights.

In addition to the matters discussed above, from time to time, the Company is party to litigation and other legal proceedings in the ordinary course of business. While the Company does not believe the ultimate resolution of pending legal matters is likely to have a material adverse effect on its financial position, the results of any litigation or other legal proceedings are uncertain and as such the resolution of such legal proceedings, either individually or in the aggregate, could have a material adverse effect on its business, results of operations, financial condition or cash flows. The Company records litigation accruals for legal matters, which are both probable and estimable. For legal proceedings for which there is a reasonable possibility of loss (meaning those losses for which the likelihood is more than remote but less than probable), the Company has determined that it does not have material exposure, or it is unable to develop a range of reasonably possible losses. Although no assurance may be given, the Company believes that it is not presently a party to any litigation of which the outcome, if determined adversely, would individually or in the aggregate be reasonably expected to have a material and adverse effect on the business, operating results, cash flows, or financial position. Legal fees are expensed in the period in which they are incurred.

Net Loss Per Share

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

Net Loss Per Share

(10)

Net Loss Per Share

The following table presents the calculation of basic and diluted net loss per share (in thousands, except per share data):


	Year Ended December 31,
	2024			2023			2022

Net loss attributable to Class A and Class B common stockholders	$	(94,319	)	$	(90,363	)	$	(93,377	)
Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders, basic and diluted		123,900			116,938			111,437
Net loss per share attributable to Class A and Class B common stockholders, basic and diluted	$	(0.76	)	$	(0.77	)	$	(0.84	)


	As of December 31,
	2024		2023		2022
Equity plan stock options outstanding		11,502		14,268		16,768
Equity plan stock options early exercised		—		5		235
RSUs outstanding		13,520		11,301		9,914
Restricted shares		301		—		241
Shares issuable pursuant to the ESPP		549		449		558
Total		25,872		26,023		27,716

Subsequent Events - Additional Information (Details) - USD ($) $ in Millions	2 Months Ended	12 Months Ended
	Feb. 28, 2025	Dec. 31, 2024	Dec. 31, 2021
Subsequent Event [Line Items]
Issuance of shares to employees with service based vesting conditions		0
RSUs
Subsequent Event [Line Items]
Vesting period of units issued			3 years
RSUs \| Subsequent Event
Subsequent Event [Line Items]
Issuance of shares to employees with service based vesting conditions	1,300,000
Issuance of shares to employees, grant date fair value	$ 14.3
RSUs \| Subsequent Event \| Maximum [Member]
Subsequent Event [Line Items]
Vesting period of units issued	3 years

Net Loss Per Share - Schedule of Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Earnings Per Share [Abstract]
Net loss attributable to Class A and Class B common stockholders	$ (94,319)	$ (90,363)	$ (93,377)
Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders, basic	123,900	116,938	111,437
Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders, diluted	123,900	116,938	111,437
Net loss per share attributable to Class A and Class B common stockholders, basic	$ (0.76)	$ (0.77)	$ (0.84)
Net loss per share attributable to Class A and Class B common stockholders, diluted	$ (0.76)	$ (0.77)	$ (0.84)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

+ Details

- Definition

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

+ References

+ Details

Restructuring (Additional Information) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Restructuring Reserve [Abstract]
Restructuring and other related charges	$ 0	$ 8,142	$ 0

Summary of Business and Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Summary of operating segment information

The following tables sets forth operating segment information (in thousands):


	Year Ended December 31,
	2024			2023			2022
Revenue	$	299,272		$	276,284		$	238,067
Less:
Cost of revenue(1)		69,962			63,385			61,957
Research and development(1)		51,921			52,619			52,113
Sales and marketing(1)		135,047			123,333			112,576
General and administrative(1)		46,346			40,440			37,669
Other segment expenses		103,379			99,027			70,314
Other income		(14,855	)		(13,426	)		(3,981	)
Provision for income taxes		1,791			1,269			796
Consolidated net loss	$	(94,319	)	$	(90,363	)	$	(93,377	)

(1)

Amounts exclude other segment expenses as follows:


	Year Ended December 31,
	2024		2023		2022
Stock-based compensation expense and related employer payroll taxes	$	102,645	$	89,472	$	68,297
Amortization of acquired intangible assets		734		1,413		2,017
Restructuring and other related charges		—		8,142		—
Total other segment expenses	$	103,379	$	99,027	$	70,314

Summary of Remaining Performance Obligations

The Company’s remaining performance obligations as of December 31, 2024 are expected to be recognized as follows (in thousands):


	As of December 31, 2024		As of December 31, 2023

Less than or equal to 12 months	$	223,320	$	188,456
Greater than 12 months		85,315		50,962
Total remaining performance obligations	$	308,635	$	239,418

Summary of Disaggregation of Revenue by Geographic Areas

The following table shows the Company’s disaggregation of revenue by geographic areas, as determined based on the address of the Company's customers (in thousands):


	Year Ended December 31,
	2024		2023		2022
United States	$	180,091	$	167,919	$	146,415
International		119,181		108,365		91,652
Total revenue	$	299,272	$	276,284	$	238,067

Summary of Deferred Commissions

The following table represents a roll-forward of the Company’s deferred commissions as of December 31, 2024 and 2023 (in thousands):


	Year Ended December 31,
	2024			2023
Beginning balance	$	38,386		$	36,717
Additions to deferred commissions		18,551			13,656
Amortization of deferred commissions		(14,286	)		(11,987	)
Ending balance		42,651			38,386
Deferred commissions, current portion		14,954			11,444
Deferred commissions, net of current portion		27,697			26,942
Total deferred commissions	$	42,651		$	38,386

Schedule of Cash, Cash Equivalents, and Restricted Cash

The following table represents the Company's cash, cash equivalents, and restricted cash at each period end (in thousands):


	As of December 31,
	2024		2023
Cash and cash equivalents	$	171,678	$	248,491
Restricted cash, current		881		—
Restricted cash, noncurrent		—		869
Total cash, cash equivalents, and restricted cash	$	172,559	$	249,360

Schedule of Estimated Useful Lives of Property and Equipment

Property and equipment are stated at cost less accumulated depreciation. Depreciation is calculated on a straight-line basis over the estimated useful lives of those assets, as follows:


Property		Useful Life

Office equipment		3 years
Furniture and fixtures		3 years
Leasehold improvements		Shorter of remaining lease term or 5 years
Software including internal-use software		3 years

Employee Benefit Plans	12 Months Ended
Employee Benefit Plans	Dec. 31, 2024
Retirement Benefits [Abstract]
Employee Benefit Plans	(6) Employee Benefit Plans The Company has established a savings and retirement plan for employees that permits participants to make contributions by salary deductions pursuant to Section 401(k) of the Internal Revenue Code. The plan is available to all regular employees on the Company’s U.S. payroll. The Company does not currently match employees’ contributions.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480794/715-70-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480482/715-20-55-17

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (q)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (l)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/715/tableOfContent

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (o)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480126/715-20-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 60
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480266/715-60-50-3

+ Details

Redeemable Convertible Preferred Stock - Additional Information (Details) - shares shares in Thousands	Dec. 31, 2024	Dec. 31, 2023
Class Of Stock [Line Items]
Preferred Stock, Shares Issued	0	0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Stockholders' Equity and Equity Incentive Plans - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Class Of Stock [Line Items]
Exercise of stock options, Shares	2,256,288
Issuance of common stock under employee share purchase plan	20,000,000	20,000,000
Total stock-based compensation expense	$ 100,019	$ 88,285	$ 67,223
Employee Stock Option
Class Of Stock [Line Items]
Options, vesting period				4 years
intrinsic value	17,300	$ 16,400	23,300
Weighted-average grant date fair value		$ 6.69		$ 8.27
R S Us
Class Of Stock [Line Items]
Total stock-based compensation expense	85,200	$ 77,100	46,000
Fair value shares vested	69,700	$ 56,300	$ 25,400
2014 Stock Option Plan
Class Of Stock [Line Items]
Options, vesting period		4 years
Unrecognized share-based compensation expense	$ 3,200
Unrecognized share-based compensation expense recognition period (term)	2 years 1 month 6 days
Non-employee stock options outstanding	342,000
2014 Stock Option Plan \| R S Us
Class Of Stock [Line Items]
Unrecognized share-based compensation expense	$ 138,800
Unrecognized share-based compensation expense recognition period (term)	2 years 1 month 17 days
Non-employee stock options outstanding		177,661
2021 Incentive Award Plan
Class Of Stock [Line Items]
Exercise of stock options, Shares	88,000,000
Purchase price	85.00%
Options, vesting period	4 years		4 years
2021 Incentive Award Plan \| Class A Common Stock
Class Of Stock [Line Items]
Shares reserved for issuance	18,310,859
Purchase price	85.00%
2021 Employee Stock Purchase Plan
Class Of Stock [Line Items]
Exercise of stock options, Shares	1,300,000
Issuance of common stock under employee share purchase plan, Shares	469,567,000	473,792,000	350,341,000
Issuance of common stock under employee share purchase plan	3,800,000	4,100,000	4,700,000
Initial offering period	the offering period was terminated and participants were automatically enrolled in a new 12-month
Commencement date	May 15, 2024
Ending date	May 14, 2025
Total stock-based compensation expense	$ 500
Unrecognized stock-based compensation expense	$ 1,600	$ 2,400	$ 5,700
Weighted-average remaining vesting period	6 months 7 days
2021 Employee Stock Purchase Plan \| Class A Common Stock
Class Of Stock [Line Items]
Shares reserved for issuance	4,810,524,000

Stockholders' Equity and Equity Incentive Plans

12 Months Ended

Dec. 31, 2024

Equity [Abstract]

Stockholders' Equity and Equity Incentive Plans

(5)

Stockholders’ Equity and Equity Incentive Plans

Preferred stock

In connection with the direct listing of the Company's Class A common stock on the Nasdaq Capital Market (the "Direct Listing") on September 21, 2021, an amended and restated certificate of incorporation of the Company was filed with the Secretary of State of the State of Delaware, which authorized the issuance of 20 million shares of undesignated preferred stock with a par value of $0.00001 per share and rights and preferences, including voting rights, designated from time to time by the Company's board of directors.

Common Stock

The Company has two classes of common stock: Class A common stock and Class B common stock. The Company's amended and restated certificate of incorporation authorizes the issuance of 600 million shares of Class A common stock and 600 million 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 five votes. Class A and Class B common stock each have a par value of $0.00001 per share and are referred to as common stock throughout the notes to the consolidated financial statements, unless otherwise noted. Holders of common stock are entitled to receive any dividends whenever funds are legally available and if declared by the Company's 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 will also automatically convert into one share of Class A common stock upon any transfer, except for certain permitted transfers described in the Company's amended and restated certificate of incorporation. In addition, each share of Class B common stock held by the Company's three cofounders (or any of such founder’s affiliates) will convert automatically into one share of Class A common stock on the earlier of: (i) the death or incapacity of such founder or (ii) the date that is six months following the date on which such founder is no longer an employee or director of the Company (unless such founder has rejoined the Company during such six-month period). Each outstanding share of the Company's Class B common stock will also convert automatically into one share of Class A common stock on the date that is six months following the date on which no founder is an employee or director of the Company (unless a founder has rejoined the Company during such six-month period). In addition, any transfer by a founder (or such founder’s affiliates) to one or more of the other founders (or such founders’ affiliates) will not result in the automatic conversion of such shares of Class B common stock to Class A common stock. Once converted into Class A common stock, the Class B common stock may not be reissued.

The Company has reserved shares of its Class A common stock as follows:


	As of December 31, 2024		As of December 31, 2023

2014 Stock Option and Grant Plan and 2021 Incentive Award Plan:
Equity plan stock options outstanding		11,501,725		14,268,055
RSUs outstanding		13,519,769		11,301,279
Shares available for future issuance		18,310,859		18,260,813
2021 Employee Stock Purchase Plan:
Shares available for future issuance		4,810,524		4,079,994
Total reserved shares		48,142,877		47,910,141

Equity Incentive Plans

2014 Stock Option and Grant Plan

In December 2014, the Company adopted its 2014 Stock Option and Grant Plan (as amended, the “2014 Plan”), pursuant to which shares of the Company’s common stock were reserved for the issuance of stock options (incentive and non-statutory), restricted stock units (“RSUs”), and restricted stock to employees, directors, and consultants under terms and provisions established by the Company's board of directors and approved by the Company’s stockholders. The 2014 Plan was terminated in September 2021 in connection with the Direct Listing but continues to govern the terms of outstanding awards that were granted prior to the termination of the 2014 Plan. No further equity awards will be granted under the 2014 Plan. With the establishment of the 2021 Incentive Award Plan (the “2021 Plan”) as further discussed below, upon the expiration, forfeiture, cancellation, or reacquisition of any shares of Class A common stock underlying outstanding stock-based awards granted under the 2014 Plan, an equal number of shares of Class A common stock will become available for grant under the 2021 Plan.

2021 Incentive Award Plan

In August 2021, the Company's board of directors adopted, and its stockholders approved, the 2021 Plan, which became effective in connection with the Direct Listing. The 2021 Plan provides for the grant of incentive stock options, nonqualified stock options, stock appreciation rights, restricted stock awards, RSU awards, performance bonus awards, performance stock units, dividend equivalent awards and other forms of equity compensation (collectively, “equity awards”). As of December 31, 2024, a total of 18,310,859 shares of the Company's Class A common stock have been reserved for issuance under the 2021 Plan in addition to (i) any shares available for issuance under the 2014 Plan as of the effective date of the 2021 Plan, (ii) the number of shares represented by awards outstanding under the Company's 2014 Plan (“Prior Plan Awards”) that become available upon the expiration, forfeiture, cancellation, or reacquisition of any shares of Class A common stock underlying outstanding stock awards granted under the 2014 Plan, and (iii) an annual increase on the first day of each fiscal year beginning in 2022 and ending in 2031, equal to the lesser of (A) 5% of the shares of the Company's common stock outstanding (on an as-converted basis) on the last day of the immediately preceding fiscal year and (B) such smaller number of shares of stock as determined by the Company's board of directors; provided, however, that no more than 88,000,000 shares of stock may be issued upon the exercise of incentive stock options.

Stock Option Awards

Stock options granted under the 2014 Plan and the 2021 Plan (collectively, the “combined stock plans”) generally vest based on continued service over four years.

Option activity under the Company's combined stock plans is set forth below:


						Weighted
				Weighted		average		Aggregate
	Outstanding			average		remaining		intrinsic
	stock			exercise		contractual		value
	options			price		life (years)		(in thousands)
Balances as of December 31, 2023		14,268,055		$	4.40		6.27	$	118,757
Granted		—			—
Exercised		(2,256,288	)		2.89
Cancelled/forfeited		(510,042	)		10.81
Balances as of December 31, 2024(1)		11,501,725		$	4.41		5.25	$	70,628
Exercisable as of December 31, 2024(2)		10,998,001		$	4.05		5.16	$	71,436

(1)

As no forfeitures are estimated due to the Company's adoption of ASU No. 2016-09, all options are vested or expected to vest. As of December 31, 2024, no options were outstanding that were subject to a future performance condition

(2)

Exercisable shares include vested options as well as unvested shares that can be early exercised

The aggregate intrinsic values of options are calculated as the difference between the exercise price of the options and the market price for shares of the Company’s Class A common stock as of each period-end. The total intrinsic value of options exercised for the years ended December 31, 2024, 2023, and 2022 was $17.3 million, $16.4 million, and $23.3 million, respectively.

No stock options were granted in the year ended December 31, 2024. Stock options granted during the years ended December 31, 2023 and 2022 had a weighted average grant date fair value of $6.69 and $8.27 per share, respectively. The fair value is being

expensed over the vesting period of the options on a straight-line basis as the services are being provided. No tax benefits were realized from options during the periods.

As of December 31, 2024, total unrecognized stock-based compensation expense related to options outstanding under the combined stock plans was $3.2 million. This unrecognized expense as of December 31, 2024 is expected to be recognized over the weighted average remaining vesting period of 2.10 years. As of December 31, 2024, the Company had 342,000 shares of non-employee stock options outstanding under the combined stock plans.

The fair value of each option granted to employees under the 2021 Plan is estimated on the grant date using the Black-Scholes pricing model.

The following range of assumptions and data inputs were used in the Black-Scholes option-pricing model to estimate the fair value of the options granted under the 2021 Plan:


	Year Ended December 31,
	2024		2023		2022
Fair value of common stock		—	$11.37 - $12.37		$14.62 - $15.63
Expected dividend yield		—		—		—
Risk-free interest rate		—	3.59% - 4.36%		3.01% - 3.36%
Expected volatility		—	56.5% - 56.8%		55.3% - 55.6%
Expected term (years)		—	5.5 - 6.0		6.0 - 6.3

Restricted Stock Units

RSUs granted under the 2021 Plan generally vest based on continued service. During the years ended December 31, 2024, 2023, and 2022, the Company recorded $85.2 million, $77.1 million, and $46.0 million in expense related to RSUs, respectively.

The total fair value of RSUs vested during the years ended December 31, 2024, 2023, and 2022 was $69.7 million, $56.3 million, and $25.4 million, respectively. As of December 31, 2024, total unrecognized stock-based compensation expense related to RSUs was $138.8 million. This unrecognized expense as of December 31, 2024 is expected to be recognized over the weighted average remaining vesting period of 2.13 years. As of December 31, 2024, the Company had 177,661 shares of non-employee RSUs outstanding under the combined stock plans.

RSU activity for the year ended December 31, 2024 was as follows:


	Restricted stock units			Weighted-average grant date fair value per share
Balance as of December 31, 2023		11,301,279		$	14.76
Granted		12,135,585			9.59
Vested		(6,794,806	)		13.59
Cancelled/forfeited		(3,122,289	)		13.45
Balance as of December 31, 2024		13,519,769		$	11.02

2021 Employee Stock Purchase Plan

In August 2021, the Company’s board of directors adopted, and its stockholders approved, the 2021 Employee Stock Purchase Plan (the “ESPP”), which became effective in connection with the Direct Listing. The ESPP authorizes the issuance of shares of Class A common stock pursuant to purchase rights granted to employees. As of December 31, 2024, a total of 4,810,524 shares of the Company’s Class A common stock have been reserved for future issuance under the ESPP, in addition to any annual automatic evergreen increases in the number of shares of Class A common stock reserved for future issuance under the ESPP. The ESPP offers employees the option to purchase shares through a series of consecutive 12-month offering periods on each May 15th and November 15th (with two six-month purchase periods during each offering period). The price at which Class A common stock is purchased under the ESPP is equal to the lower of (i) 85% of the closing trading price per share of the Company's Class A common stock on the first trading date of an offering period in which a participant is enrolled or (ii) 85% of the closing trading price per share

on the purchase date, which will occur on the last trading day of each purchase period, or such other price designated by the administrator.

The ESPP offers a rollover feature pursuant to which, if the fair market value of a share of Class A common stock on the first purchase date is lower than the fair market value on the first trading day of the offering period, the respective offering period will terminate and each participant will be automatically enrolled in the offering period that commences immediately following the purchase date. In accordance with the rollover feature, immediately following the conclusion of the purchase period ended May 14, 2024, the offering period was terminated and participants were automatically enrolled in a new 12-month offering period commencing on May 15, 2024 and ending on May 14, 2025. The impact of the rollover feature did not result in material incremental compensation cost for the year ended December 31, 2024.

The following assumptions were used to calculate the fair value of shares to be granted under the ESPP during the period utilizing the Black-Scholes option-pricing model:


	Year Ended December 31,
	2024		2023		2022
Fair value of common stock	$9.34 - $9.59		$9.98 - $10.76		$14.77 - $17.04
Expected dividend yield		—		—		—
Risk-free interest rate	4.34% - 5.43%		4.75% - 5.41%		1.54% - 4.63%
Expected volatility	44.4% - 56.0%		56.8% - 60.0%		60.0%
Expected term (years)	0.5 - 1.0		0.5 - 1.0		0.5 - 1.0

The expected term for the ESPP purchase rights is based on the duration of the offering period. Estimated volatility for ESPP purchase rights is based on the historical volatility of the Company's Class A common stock. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time the ESPP purchase right was granted at the beginning of the offering period. The Company has not declared, nor does it expect to declare dividends.

As of December 31, 2024, 1.3 million shares have been purchased under the ESPP. During the years ended December 31, 2024, 2023, and 2022, the Company issued 469,567, 473,792, and 350,341 shares under the ESPP, respectively, in settlement of $3.8 million, $4.1 million, and $4.7 million of ESPP liabilities, respectively.

During the years ended December 31, 2024, 2023, and 2022 the Company recognized $1.6 million, $2.4 million, and $5.7 million of stock-based compensation expense related to the ESPP, respectively. As of December 31, 2024, total unrecognized compensation costs related to the ESPP was $0.5 million, which will be amortized over a weighted average period of 0.52 years.

Stock-based compensation expense, net of actual forfeitures is reflected in the consolidated statement of operations and comprehensive loss (in thousands):


	Year Ended December 31,
	2024		2023		2022
Cost of revenue	$	6,472	$	7,300	$	6,468
Research and development		44,421		36,643		27,855
Sales and marketing		32,119		29,404		17,143
General and administrative		17,007		14,085		15,757
Restructuring and other related charges		—		853		—
Total stock-based compensation expense	$	100,019	$	88,285	$	67,223

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478448/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 13
-Subparagraph (i)
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
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-Paragraph 14
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Subparagraph (a)
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

+ Details

Income Taxes - Summary of Reconciliation of Unrecognized Tax Benefit (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Beginning Balance	$ 5,118	$ 3,625	$ 2,253
Increases related to tax positions taken during a prior year	0	0	0
Decreases related to tax positions taken during a prior year	0	0	0
Increases related to tax positions taken during the current year	2,145	1,493	1,372
Ending Balance	$ 7,263	$ 5,118	$ 3,625

Stockholders' Equity and Equity Incentive Plans (Tables)

12 Months Ended

Dec. 31, 2024

Equity [Abstract]

Schedule of Reserved Shares of Common Stock

The Company has reserved shares of its Class A common stock as follows:


	As of December 31, 2024		As of December 31, 2023

2014 Stock Option and Grant Plan and 2021 Incentive Award Plan:
Equity plan stock options outstanding		11,501,725		14,268,055
RSUs outstanding		13,519,769		11,301,279
Shares available for future issuance		18,310,859		18,260,813
2021 Employee Stock Purchase Plan:
Shares available for future issuance		4,810,524		4,079,994
Total reserved shares		48,142,877		47,910,141

Summary of Stock Option Activity

Option activity under the Company's combined stock plans is set forth below:


						Weighted
				Weighted		average		Aggregate
	Outstanding			average		remaining		intrinsic
	stock			exercise		contractual		value
	options			price		life (years)		(in thousands)
Balances as of December 31, 2023		14,268,055		$	4.40		6.27	$	118,757
Granted		—			—
Exercised		(2,256,288	)		2.89
Cancelled/forfeited		(510,042	)		10.81
Balances as of December 31, 2024(1)		11,501,725		$	4.41		5.25	$	70,628
Exercisable as of December 31, 2024(2)		10,998,001		$	4.05		5.16	$	71,436

(1)

(2)

Exercisable shares include vested options as well as unvested shares that can be early exercised

Schedule of Assumptions and Data Inputs to Estimate Fair Value of Options

The following range of assumptions and data inputs were used in the Black-Scholes option-pricing model to estimate the fair value of the options granted under the 2021 Plan:


	Year Ended December 31,
	2024		2023		2022
Fair value of common stock		—	$11.37 - $12.37		$14.62 - $15.63
Expected dividend yield		—		—		—
Risk-free interest rate		—	3.59% - 4.36%		3.01% - 3.36%
Expected volatility		—	56.5% - 56.8%		55.3% - 55.6%
Expected term (years)		—	5.5 - 6.0		6.0 - 6.3

Schedule of RSU Activity

RSU activity for the year ended December 31, 2024 was as follows:


	Restricted stock units			Weighted-average grant date fair value per share
Balance as of December 31, 2023		11,301,279		$	14.76
Granted		12,135,585			9.59
Vested		(6,794,806	)		13.59
Cancelled/forfeited		(3,122,289	)		13.45
Balance as of December 31, 2024		13,519,769		$	11.02

Schedule of Stock-based Compensation Expense

Stock-based compensation expense, net of actual forfeitures is reflected in the consolidated statement of operations and comprehensive loss (in thousands):


	Year Ended December 31,
	2024		2023		2022
Cost of revenue	$	6,472	$	7,300	$	6,468
Research and development		44,421		36,643		27,855
Sales and marketing		32,119		29,404		17,143
General and administrative		17,007		14,085		15,757
Restructuring and other related charges		—		853		—
Total stock-based compensation expense	$	100,019	$	88,285	$	67,223

Schedule of Fair Value of Shares To be Granted Under the ESPP

The following assumptions were used to calculate the fair value of shares to be granted under the ESPP during the period utilizing the Black-Scholes option-pricing model:


	Year Ended December 31,
	2024		2023		2022
Fair value of common stock	$9.34 - $9.59		$9.98 - $10.76		$14.77 - $17.04
Expected dividend yield		—		—		—
Risk-free interest rate	4.34% - 5.43%		4.75% - 5.41%		1.54% - 4.63%
Expected volatility	44.4% - 56.0%		56.8% - 60.0%		60.0%
Expected term (years)	0.5 - 1.0		0.5 - 1.0		0.5 - 1.0

Operating Leases - Summary of Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 2,209	$ 1,079
Cash paid for operating lease liabilities	$ 4,888	$ 4,122

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Pre-Tax Book Loss

Pre-tax book loss has been recorded in the following jurisdictions (in thousands):


	Year Ended December 31,
	2024			2023			2022
United States	$	(97,993	)	$	(95,662	)	$	(97,047	)
Foreign		5,465			6,568			4,466
Worldwide pre-tax loss	$	(92,528	)	$	(89,094	)	$	(92,581	)

Schedule of Income Tax Provisions

The provision for income taxes consists of the following (in thousands):


	Year Ended December 31,
	2024			2023		2022
Current:
Federal	$	—		$	—	$	—
State		164			51		86
Foreign		1,250			516		619
Total Current	$	1,414		$	567	$	705
Deferred:
Federal	$	(127	)	$	—	$	—
State		(29	)		—		—
Foreign		533			702		91
Total Provision	$	1,791		$	1,269	$	796

Schedule of Reconciliation of Income Tax Provision to Federal Income Tax Rate

The provision for income taxes differs from the amount computed by applying the federal income tax rate of 21% to pre-tax loss for the years ended December 31, 2024, 2023, and 2022 from operations as a result of the following:


	Year Ended December 31,
	2024		2023		2022
Statutory federal income tax rate	21.00	%	21.00	%	21.00	%
State income taxes, net of federal tax benefits	2.51		4.11		4.34
Permanent differences	(0.51)		(0.48)		(0.29)
Tax credits	6.63		7.24		6.49
Foreign rate differential	(0.06)		0.18		0.25
Stock based compensation	(10.16)		(9.70)		(3.36)
Other	0.16		0.07		(0.04)
Valuation allowance	(21.49)		(23.84)		(29.25)
Tax provision	(1.92)	%	(1.42)	%	(0.86)	%

Schedule of Deferred Income Tax Assets and Liabilities

The tax effects of temporary differences that give rise to significant portions of the Company’s deferred tax assets and liabilities as of December 31, 2024 and 2023 related to the following (in thousands):


	Year Ended December 31,
	2024			2023
Deferred tax assets:
Net operating loss carryforwards	$	123,133		$	111,904
Credit carryforwards		29,143			22,428
Stock-based compensation		4,670			7,187
Accruals and reserves		2,961			550
Operating lease liability		1,402			2,049
Fixed assets		226			86
Capitalized research and development costs		31,971			25,277
Intangibles		—			428
Accumulated other comprehensive loss		2			45
Other		174			175
Gross tax assets		193,682			170,129
Valuation allowance		(184,238	)		(161,456	)
Realizable deferred tax assets		9,444			8,673
Deferred tax liabilities:
Deferred commission costs	$	(10,636	)	$	(9,491	)
Operating lease right-of-use assets		(1,328	)		(1,720	)
Intangibles		(550	)		—
Gross deferred liabilities		(12,514	)		(11,211	)
Net deferred tax assets (liabilities)	$	(3,070	)	$	(2,538	)

Summary of Reconciliation of Unrecognized Tax Benefit

A reconciliation of the beginning and ending amount of unrealized tax benefit (excluding interest and penalties) is as follows (in thousands):


	Year Ended December 31,
	2024		2023		2022
Beginning balance	$	5,118	$	3,625	$	2,253
Increases related to tax positions taken during a prior year		—		—		—
Decreases related to tax positions taken during a prior year		—		—		—
Increases related to tax positions taken during the current year		2,145		1,493		1,372
Ending balance	$	7,263	$	5,118	$	3,625

Balance Sheet Components - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Depreciation and amortization	$ 5.4	$ 4.2	$ 2.6

Balance Sheet Components - Schedule of Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued hosting	$ 1,151	$ 6,506
Accrued commission and bonus	17,215	6,383
Accrued payroll and employee related taxes	2,500	2,468
Accrued sales tax	429	322
2021 Employee Stock Purchase Plan withholding	811	1,017
Operating lease liabilities, current	3,812	4,571
Other accrued liabilities	7,933	5,390
Total accrued expenses	$ 33,851	$ 26,657

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 171,678	$ 248,491
Restricted cash, current	881	0
Marketable securities, current	69,419	73,909
Accounts receivable, net of allowance for doubtful accounts of $1,417 and $1,101 as of December 31, 2024 and 2023, respectively	26,346	29,496
Prepaid expenses and other current assets	20,353	16,624
Deferred commissions, current	14,954	11,444
Total current assets	303,631	379,964
Marketable securities, noncurrent	57,242	0
Property and equipment, net	16,333	10,068
Intangible assets, net	4,364	609
Goodwill	24,370	4,073
Restricted cash, noncurrent	0	869
Deferred commissions, noncurrent	27,697	26,942
Operating lease right-of-use assets	5,286	6,856
Other noncurrent assets	6,988	4,303
Total assets	445,911	433,684
Current liabilities:
Accounts payable	991	3,063
Accrued expenses	33,851	26,657
Deferred revenue	109,671	102,573
Total current liabilities	144,513	132,293
Operating lease liabilities, noncurrent	1,772	3,604
Noncurrent liabilities	3,070	3,034
Total liabilities	149,355	138,931
Commitments and contingencies (Note 9)
Stockholders' equity
Preferred stock, $0.00001 par value per share; 20,000 shares authorized as of December 31, 2024 and 2023; zero shares issued and outstanding as of December 31, 2024 and 2023	0	0
Additional paid-in capital	754,398	658,463
Accumulated other comprehensive income (loss)	6	(181)
Accumulated deficit	(457,849)	(363,530)
Total stockholders' equity	296,556	294,753
Total liabilities and stockholders' equity	445,911	433,684
Class A Common Stock
Stockholders' equity
Common stock, value	1	1
Class B Common Stock
Stockholders' equity
Common stock, value	$ 0	$ 0

Stockholders' Equity and Equity Incentive Plans - Schedule of Assumptions and Data Inputs to Estimate Fair Value of Options (Details) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Expected dividend yield	0.00%	0.00%	0.00%
Expected volatility			60.00%
Minimum
Class of Stock [Line Items]
Fair value of common stock	$ 9.34	$ 9.98	$ 14.77
Risk-free interest rate	4.34%	4.75%	1.54%
Expected volatility	44.40%	56.80%
Contractual term (years)	6 months	6 months	6 months
Maximum
Class of Stock [Line Items]
Fair value of common stock	$ 9.59	$ 10.76	$ 17.04
Risk-free interest rate	5.43%	5.41%	4.63%
Expected volatility	56.00%	60.00%
Contractual term (years)	1 year	1 year	1 year
2021 Incentive Award Plan
Class of Stock [Line Items]
Fair value of common stock	$ 0
Expected dividend yield	0.00%	0.00%	0.00%
Risk-free interest rate	0.00%
Expected volatility	0.00%
2021 Incentive Award Plan \| Minimum
Class of Stock [Line Items]
Fair value of common stock		$ 11.37	$ 14.62
Risk-free interest rate		3.59%	3.01%
Expected volatility		56.50%	55.30%
Contractual term (years)		5 years 6 months	6 years
2021 Incentive Award Plan \| Maximum
Class of Stock [Line Items]
Fair value of common stock		$ 12.37	$ 15.63
Risk-free interest rate		4.36%	3.36%
Expected volatility		56.80%	55.60%
Contractual term (years)		6 years	6 years 3 months 18 days

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Operating Leases (Tables)

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Summary of Components of Lease Cost

The components of lease expense were as follows (in thousands, except years and rate):


	Year Ended December 31,
	2024		2023
Operating lease cost	$	3,985	$	3,917
Short-term lease cost		959		894
Total lease cost	$	4,944	$	4,811


	As of December 31,
	2024			2023
Weighted average remaining term (years)		1.73			1.88
Weighted average discount rate		4.08	%		3.49	%

Summary of Supplemental Cash Flow Information

Supplemental cash flow information related to operating leases was as follows (in thousands):


	Year Ended December 31,
	2024		2023
Right-of-use assets obtained in exchange for new operating lease liabilities	$	2,209	$	1,079
Cash paid for operating lease liabilities	$	4,888	$	4,122

Schedule of Operating Lease, Liability, Maturity


Year ending December 31:
2025		3,811
2026		1,146
2027		781
2028		47
2029 and thereafter		—
Total undiscounted operating lease payments	$	5,785
Less: imputed interest		(201	)
Total operating lease liabilities	$	5,584

Income Taxes

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Income Taxes

(7)

Income Taxes

Pre-tax book loss has been recorded in the following jurisdictions (in thousands):


	Year Ended December 31,
	2024			2023			2022
United States	$	(97,993	)	$	(95,662	)	$	(97,047	)
Foreign		5,465			6,568			4,466
Worldwide pre-tax loss	$	(92,528	)	$	(89,094	)	$	(92,581	)

The provision for income taxes consists of the following (in thousands):


	Year Ended December 31,
	2024			2023		2022
Current:
Federal	$	—		$	—	$	—
State		164			51		86
Foreign		1,250			516		619
Total Current	$	1,414		$	567	$	705
Deferred:
Federal	$	(127	)	$	—	$	—
State		(29	)		—		—
Foreign		533			702		91
Total Provision	$	1,791		$	1,269	$	796


	Year Ended December 31,
	2024		2023		2022
Statutory federal income tax rate	21.00	%	21.00	%	21.00	%
State income taxes, net of federal tax benefits	2.51		4.11		4.34
Permanent differences	(0.51)		(0.48)		(0.29)
Tax credits	6.63		7.24		6.49
Foreign rate differential	(0.06)		0.18		0.25
Stock based compensation	(10.16)		(9.70)		(3.36)
Other	0.16		0.07		(0.04)
Valuation allowance	(21.49)		(23.84)		(29.25)
Tax provision	(1.92)	%	(1.42)	%	(0.86)	%


	Year Ended December 31,
	2024			2023
Deferred tax assets:
Net operating loss carryforwards	$	123,133		$	111,904
Credit carryforwards		29,143			22,428
Stock-based compensation		4,670			7,187
Accruals and reserves		2,961			550
Operating lease liability		1,402			2,049
Fixed assets		226			86
Capitalized research and development costs		31,971			25,277
Intangibles		—			428
Accumulated other comprehensive loss		2			45
Other		174			175
Gross tax assets		193,682			170,129
Valuation allowance		(184,238	)		(161,456	)
Realizable deferred tax assets		9,444			8,673
Deferred tax liabilities:
Deferred commission costs	$	(10,636	)	$	(9,491	)
Operating lease right-of-use assets		(1,328	)		(1,720	)
Intangibles		(550	)		—
Gross deferred liabilities		(12,514	)		(11,211	)
Net deferred tax assets (liabilities)	$	(3,070	)	$	(2,538	)

Income taxes are accounted for under the asset-and-liability method. Deferred tax assets and liabilities are recognized for 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 carryforward. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to the taxable income or loss in the future years in which those temporary differences are expected to be recovered or settled. The effect on the deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are established for deferred tax assets to the extent it is more likely than not that the deferred tax assets may not be realizable.

The Company evaluates uncertain tax positions taken or expected to be taken in the course of preparing its tax return to determine whether the tax positions are more likely than not of being sustained upon challenge by the applicable taxing authority. 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 measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or remeasurement are reflected in the period in which the change in judgment occurs.

As of December 31, 2024, the Company had approximately $473.6 million and $356.3 million of net operating loss carryforwards available to offset future federal and state taxable income, respectively. If realized, none of the net operating loss carryforwards will be recognized as a benefit through additional paid-in capital. If not realized, federal carryforward losses of $25.4 million will expire beginning in 2032 and $448.2 million of carryforward losses will carryforward indefinitely. State carryforwards will expire beginning 2030.

As of December 31, 2024, the Company had tax credit carryforwards of $16.7 million and $14.8 million, net of reserves to offset future federal and state tax and $0.8 million of foreign research tax credit carryforwards. The carryforwards will expire in various amounts for federal purposes beginning 2033. The California R&D credits will not expire but the California competes tax credits will expire beginning 2026. The foreign research tax credits are allowed a carryforward of 20 years and are set to expire in 2042.

Utilization of net operating loss carryforwards and credits may be subject to substantial annual limitation due to ownership change limitations provided by the Internal Revenue Code of 1986, as amended, and similar state provisions. The annual limitations may result in the expiration of the net operating losses before utilization.

As of December 31, 2024, the Company had unrecognized income tax benefits of $7.3 million. The increase in the Company’s unrecognized tax benefit was primarily attributable to current year credit activities. A reconciliation of the beginning and ending amount of unrealized tax benefit (excluding interest and penalties) is as follows (in thousands):


	Year Ended December 31,
	2024		2023		2022
Beginning balance	$	5,118	$	3,625	$	2,253
Increases related to tax positions taken during a prior year		—		—		—
Decreases related to tax positions taken during a prior year		—		—		—
Increases related to tax positions taken during the current year		2,145		1,493		1,372
Ending balance	$	7,263	$	5,118	$	3,625

The total unrecognized tax benefit, if recognized, would not affect the Company’s effective tax rate as the tax benefit would increase the deferred tax asset, which is currently offset with a full valuation allowance. The Company does not anticipate that the amount of existing unrecognized tax benefit will significantly increase or decrease within the next 12 months. Accrued interest and penalties related to the unrecognized tax benefits are recorded in income tax expense. No interest, penalties, or tax benefits were recognized during the year ended December 31, 2024.

The Company files U.S. federal, Netherlands, United Kingdom, France, Singapore, Japan, Germany, Canada, India, and Australia income tax returns as well as state income tax returns for various state jurisdictions. Due to the Company’s net operating loss carryforwards in the United States, its income tax returns remain subject to federal and state tax authorities for all prior years. There are no tax years under examination by any jurisdiction, except India, at this time. The Company records liabilities related to uncertain tax positions and believes that it has provided adequate reserves for income tax uncertainties in all open tax years.

The Company provides for U.S. federal income taxes on the earnings of foreign subsidiaries unless they are considered permanently reinvested outside of the U.S. As of December 31, 2024, the Company’s management asserted that it is their intent to indefinitely reinvest unremitted foreign earnings for all its foreign entities.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-13

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/740/tableOfContent

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Acquisitions, Intangible Assets, and Goodwill

12 Months Ended

Dec. 31, 2024

Intangible Assets And Goodwill Disclosure [Abstract]

Acquisitions, Intangible Assets, and Goodwill

(4)

Acquisitions, Intangible Assets, and Goodwill

Acquisitions

On October 15, 2024, the Company completed an acquisition of a privately-held company for an aggregate of $33.6 million, consisting of $26.7 million of cash and $6.9 million of equity consideration through the issuance of 0.8 million shares of its common stock. This includes a holdback that will be paid on the 12-month anniversary of the closing date. The Company has accounted for this transaction as a business combination. In allocating the aggregate purchase price based on the estimated fair values, the Company recorded $9.6 million of cash, $3.7 million as a developed technology intangible asset, $0.7 million as a customer related intangible asset, and $90 thousand as a trade name asset. The useful lives of the acquired intangible assets are as follows:


Intangible Asset		Useful Life

Developed technology		5 years
Customer related		3 years
Trade name		1 year

The excess of purchase consideration over the fair value of net assets acquired was recorded as goodwill in the amount of $20.3 million after measurement period and working capital adjustments. As part of the acquisition, the Company also agreed to retention agreements with key employees in which 1.4 million shares of common stock are restricted and deemed as compensation for post combination services. The total value of $13.0 million related to these restricted shares was recognized as stock-based compensation expense in the year ended December 31, 2024.

The Company believes the goodwill balance associated with the acquisition represents the synergies expected from expanded market opportunities when integrating the acquired developed technology with the Company’s offerings as well as acquiring an assembled workforce. Related goodwill is deductible for income tax purposes. Aggregate acquisition-related costs associated with the business combination was not material for all periods presented and were included in general and administrative expenses in the consolidated statements of operations.

The results of operations of this business combination have been included in the Company’s consolidated financial statements from the acquisition date. The business combination did not have a material impact on the Company’s consolidated financial statements. Therefore, historical results of operations prior to the acquisition dates and pro forma results of operations have not been presented.

Intangible Assets Other Than Goodwill

Intangible assets, net consisted of the following (in thousands):


		As of December 31, 2024										As of December 31, 2023
		Gross Carrying Amount			Accumulated Amortization				Net Carrying Amount			Gross Carrying Amount			Accumulated Amortization				Net Carrying Amount

Developed technology	$		9,250	$		(5,708	)	$		3,542	$		5,550	$		(5,258	)	$		292
Customer related			1,631			(880	)			751			931			(614	)			317
Trade name			90			(19	)			71			—			—				—
Intangible assets, net	$		10,971	$		(6,607	)	$		4,364	$		6,481	$		(5,872	)	$		609

Amortization expense of intangible assets was $0.7 million, $1.4 million, and $2.1 million for the years ended December 31, 2024, 2023, and 2022, respectively.

As of December 31, 2024, future amortization expense is expected to be as follows (in thousands):


	Amount
2025	$	1,145
2026		972
2027		923
2028		741
2029		583
Total	$	4,364

Balance Sheet Components (Tables)

12 Months Ended

Dec. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following (in thousands):


	As of December 31,
	2024		2023
Prepaid hosting	$	6,128	$	6,074
Other prepaid expenses and other assets		14,225		10,550
Total prepaid expense and other current assets	$	20,353	$	16,624

Schedule of Property and Equipment, Net

Property and equipment, net consisted of the following (in thousands):


	As of December 31,
	2024			2023
Office equipment	$	4,886		$	4,427
Furniture and fixtures		1,376			1,237
Leasehold improvements		1,320			1,299
Internal-use software		20,534			10,467
Total property and equipment		28,116			17,430
Less accumulated depreciation and amortization		(11,783	)		(7,362	)
Property and equipment, net	$	16,333		$	10,068

Schedule Of Carrying value Of Capitalized Internal Cost

The changes in the carrying value of capitalized internal-use software costs for the periods presented below are as follows (in thousands):


	Amount

Balance as of December 31, 2022	$	4,891
Capitalization of internal-use software costs		3,641
Amortization of internal-use software costs		(2,350	)
Balance as of December 31, 2023		6,182
Capitalization of internal-use software costs		10,067
Amortization of internal-use software costs		(3,230	)
Balance as of December 31, 2024		13,019

Schedule of Accrued Expenses

Accrued expenses consisted of the following (in thousands):


	As of December 31,
	2024		2023
Accrued hosting	$	1,151	$	6,506
Accrued commission and bonus		17,215		6,383
Accrued payroll and employee related taxes		2,500		2,468
Accrued sales tax		429		322
2021 Employee Stock Purchase Plan withholding		811		1,017
Operating lease liabilities, current		3,812		4,571
Other accrued liabilities		7,933		5,390
Total accrued expenses	$	33,851	$	26,657

Summary of Business and Significant Accounting Policies - Summary of Disaggregation of Revenue by Geographic Areas (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Financing Receivable Impaired [Line Items]
Total revenue	$ 299,272	$ 276,284	$ 238,067
United States
Financing Receivable Impaired [Line Items]
Total revenue	180,091	167,919	146,415
International
Financing Receivable Impaired [Line Items]
Total revenue	$ 119,181	$ 108,365	$ 91,652

- 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.

+ References

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+ Details

Income Taxes - Schedule of Pre-Tax Book Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
United States	$ (97,993)	$ (95,662)	$ (97,047)
Foreign	5,465	6,568	4,466
Worldwide pre-tax loss	$ (92,528)	$ (89,094)	$ (92,581)

- 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/2009/role/commonPracticeRef
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+ Details

Stockholders' Equity and Equity Incentive Plans - Preferred and Common Stock - Additional Information (Details) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Class Of Stock [Line Items]
Issuance of common stock under employee share purchase plan	20,000	20,000
Preferred Stock, Par or Stated Value Per Share	$ 0.00001	$ 0.00001
Class A Common Stock
Class Of Stock [Line Items]
Common Stock, Shares Authorized	600,000	600,000
Common Stock, Par or Stated Value Per Share	$ 0.00001	$ 0.00001
Common stock, voting rights	Each share of Class A common stock is entitled to one vote
Class B Common Stock
Class Of Stock [Line Items]
Common Stock, Shares Authorized	600,000	600,000
Common Stock, Par or Stated Value Per Share	$ 0.00001	$ 0.00001
Common stock, voting rights	Each share of Class B common stock is entitled to five votes

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Summary of Business and Significant Accounting Policies - Additional Information (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Sep. 21, 2021	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Financing Receivable Impaired [Line Items]
Unrecognized transaction price		$ 308,600
General and administrative expenses		63,860	$ 54,887	$ 53,636
Allowance for doubtful accounts		1,400	1,100
Deferred revenue		102,000	89,600
Deferred commission impairment loss		0
Advertising Expense		$ 5,900	5,500	5,800
Income tax description		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 greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs.
Restricted cash, noncurrent		$ 0	869
Goodwill, impairment loss		0	0	0
Impairment for intangible assets		0	0	0
Restricted cash, current		881	0
Capitalized Computer Software, Impairments		0	0	0
Impairment Loss on Long Lived Asset		0	0	$ 0
Reserve		0	0
Warranties
Financing Receivable Impaired [Line Items]
Reserve		$ 0	$ 0
Employee Stock Option
Financing Receivable Impaired [Line Items]
Award vesting period	36 months
RSUs
Financing Receivable Impaired [Line Items]
Award vesting period	48 months
Revenue \| Revenue Benchmark \| No Customer
Financing Receivable Impaired [Line Items]
Concentration Risk, Percentage		10.00%	10.00%	10.00%
Accounts receivable		10.00%
Revenue \| Revenue Benchmark \| One Customer
Financing Receivable Impaired [Line Items]
Accounts receivable			10.00%

Summary of Business and Significant Accounting Policies

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Summary of Business and Significant Accounting Policies

(1)

Summary of Business and Significant Accounting Policies

Description of Business

Segment Information

The following tables sets forth operating segment information (in thousands):


	Year Ended December 31,
	2024			2023			2022
Revenue	$	299,272		$	276,284		$	238,067
Less:
Cost of revenue(1)		69,962			63,385			61,957
Research and development(1)		51,921			52,619			52,113
Sales and marketing(1)		135,047			123,333			112,576
General and administrative(1)		46,346			40,440			37,669
Other segment expenses		103,379			99,027			70,314
Other income		(14,855	)		(13,426	)		(3,981	)
Provision for income taxes		1,791			1,269			796
Consolidated net loss	$	(94,319	)	$	(90,363	)	$	(93,377	)

(1)

Amounts exclude other segment expenses as follows:


	Year Ended December 31,
	2024		2023		2022
Stock-based compensation expense and related employer payroll taxes	$	102,645	$	89,472	$	68,297
Amortization of acquired intangible assets		734		1,413		2,017
Restructuring and other related charges		—		8,142		—
Total other segment expenses	$	103,379	$	99,027	$	70,314

Basis of Presentation and Principles of Consolidation

Foreign Currency

Use of Estimates

•

expected period of benefit for deferred commissions;

•

useful lives of long-lived assets;

•

valuation of goodwill and intangible assets;

•

recognition, measurement, and valuation of deferred tax assets and income tax uncertainties; and

•

incremental borrowing rates used for operating leases.

Revenue Recognition

To achieve the core principle of the revenue standard, the Company applies the following steps:

(i)

Identification of the contract, or contracts, with the customer

(ii)

Identification of the performance obligations in the contract

(iii)

Determination of the transaction price

(iv)

Allocation of the transaction price to the performance obligations in the contract

(v)

Recognition of the revenue when, or as, a performance obligation is satisfied

Subscription revenue

Remaining performance obligations

The Company’s remaining performance obligations as of December 31, 2024 are expected to be recognized as follows (in thousands):


	As of December 31, 2024		As of December 31, 2023

Less than or equal to 12 months	$	223,320	$	188,456
Greater than 12 months		85,315		50,962
Total remaining performance obligations	$	308,635	$	239,418

Disaggregation of Revenue

The following table shows the Company’s disaggregation of revenue by geographic areas, as determined based on the address of the Company's customers (in thousands):


	Year Ended December 31,
	2024		2023		2022
United States	$	180,091	$	167,919	$	146,415
International		119,181		108,365		91,652
Total revenue	$	299,272	$	276,284	$	238,067

Accounts Receivable, Net

Concentration of Risk and Significant Customers

Deferred Revenue

Deferred Commissions

The following table represents a roll-forward of the Company’s deferred commissions as of December 31, 2024 and 2023 (in thousands):


	Year Ended December 31,
	2024			2023
Beginning balance	$	38,386		$	36,717
Additions to deferred commissions		18,551			13,656
Amortization of deferred commissions		(14,286	)		(11,987	)
Ending balance		42,651			38,386
Deferred commissions, current portion		14,954			11,444
Deferred commissions, net of current portion		27,697			26,942
Total deferred commissions	$	42,651		$	38,386

Cost of Revenue

Research and Development Expense

Advertising Costs

Stock-Based Compensation

Taxes

Cash, Cash Equivalents, and Restricted Cash


	As of December 31,
	2024		2023
Cash and cash equivalents	$	171,678	$	248,491
Restricted cash, current		881		—
Restricted cash, noncurrent		—		869
Total cash, cash equivalents, and restricted cash	$	172,559	$	249,360

Investments in Marketable Securities

Fair Value Measurements

Business Combinations

Goodwill and Other Acquired Intangible Assets

Property and Equipment, Net

Property and equipment are stated at cost less accumulated depreciation. Depreciation is calculated on a straight-line basis over the estimated useful lives of those assets, as follows:


Property		Useful Life

Office equipment		3 years
Furniture and fixtures		3 years
Leasehold improvements		Shorter of remaining lease term or 5 years
Software including internal-use software		3 years

Operating Leases

Capitalized Internal-Use Software Costs

Impairment of Long-Lived Assets

Net Loss Per Share

Indemnifications

Warranties

Recently Adopted Accounting Pronouncements

Recently Issued Accounting Pronouncements

Consolidated Statements of Operations and Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
Revenue	$ 299,272	$ 276,284	$ 238,067
Cost of revenue	76,924	71,923	70,442
Gross profit	222,348	204,361	167,625
Operating expenses:
Research and development	97,565	90,138	80,589
Sales and marketing	168,306	153,714	129,962
General and administrative	63,860	54,887	53,636
Restructuring and other related charges	0	8,142	0
Total operating expenses	329,731	306,881	264,187
Other income (expense), net	14,855	13,426	3,981
Loss before provision for (benefit from) income taxes	(92,528)	(89,094)	(92,581)
Provision for (benefit from) income taxes	1,791	1,269	796
Net loss	$ (94,319)	$ (90,363)	$ (93,377)
Net loss per share attributable to Class A and Class B common stockholders:
Net loss per share attributable to Class A and Class B common stockholders, basic	$ (0.76)	$ (0.77)	$ (0.84)
Net loss per share attributable to Class A and Class B common stockholders, diluted	$ (0.76)	$ (0.77)	$ (0.84)
Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders:
Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders, basic	123,900	116,938	111,437
Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders, diluted	123,900	116,938	111,437
Net unrealized losses on marketable securities	$ 187	$ 573	$ (754)
Comprehensive loss	$ (94,132)	$ (89,790)	$ (94,131)

Balance Sheet Components - Schedule Of Carrying value Of Capitalized Internal Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Capitalized Computer Software, Net, Beginning Balance	$ 6,182	$ 4,891
Capitalization of internal-use software costs	10,067	3,641
Amortization of internal-use software costs	(3,230)	(2,350)
Capitalized Computer Software, Net, Ending Balance	$ 13,019	$ 6,182

Balance Sheet Components - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Prepaid hosting	$ 6,128	$ 6,074
Other prepaid expenses and other assets	14,225	10,550
Total prepaid expense and other current assets	$ 20,353	$ 16,624

Acquisitions, Intangible Assets, and Goodwill (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Business Acquisition [Line Items]
Gross Carrying Amount	$ 10,971	$ 6,481
Accumulated Amortization	(6,607)	(5,872)
Total	4,364	609
Trade name
Business Acquisition [Line Items]
Gross Carrying Amount	90	0
Accumulated Amortization	(19)	0
Total	71	0
Developed Technology
Business Acquisition [Line Items]
Gross Carrying Amount	9,250	5,550
Accumulated Amortization	(5,708)	(5,258)
Total	3,542	292
Customer related
Business Acquisition [Line Items]
Gross Carrying Amount	1,631	931
Accumulated Amortization	(880)	(614)
Total	$ 751	$ 317

Summary of Business and Significant Accounting Policies - Schedule of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
Cash and cash equivalents	$ 171,678	$ 248,491
Restricted cash, current	881	0
Restricted cash, noncurrent	0	869
Total cash, cash equivalents, and restricted cash	$ 172,559	$ 249,360

Summary of Business and Significant Accounting Policies - Schedule of Estimated Useful Lives of Property and Equipment (Details)	Dec. 31, 2024
Office Equipment
Property Plant And Equipment [Line Items]
Useful Life of Property	3 years
Furniture and Fixtures
Property Plant And Equipment [Line Items]
Useful Life of Property	3 years
Leasehold Improvements
Property Plant And Equipment [Line Items]
Useful Life of Property	5 years
Useful Life, Lease Term [Member]
Property Plant And Equipment [Line Items]
Useful Life of Property	Leasehold Improvements
Software Including Internal Use Software
Property Plant And Equipment [Line Items]
Useful Life of Property	3 years

Stockholders' Equity and Equity Incentive Plans - Schedule of Reserved Shares of Common Stock (Details) - shares shares in Thousands	Dec. 31, 2024	Dec. 31, 2023
Class Of Stock [Line Items]
Total reserved shares	48,142,877	47,910,141
Employee Stock Option \| Option and Grant Plan
Class Of Stock [Line Items]
Total reserved shares	18,310,859	18,260,813
Equity Plan Stock Options Outstanding
Class Of Stock [Line Items]
Total reserved shares	11,501,725	14,268,055
RSUs Outstanding
Class Of Stock [Line Items]
Total reserved shares	13,519,769	11,301,279
2021 Employee Stock Purchase Plan
Class Of Stock [Line Items]
Total reserved shares	4,810,524	4,079,994

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details