0000950170-24-017102 | 10-K | XBRL Viewer

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Restructuring - Restructuring costs classified in current liabilities (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Restructuring Reserve [Abstract]
Beginning balance as of January 1, 2023	$ 0
Accruals	7,173
Payments	(7,173)
Ending balance as of December 31, 2023	$ 0

Stockholders' Equity and Equity Incentive Plans - Schedule of Reserved Shares of Common Stock (Details) - shares shares in Thousands	Dec. 31, 2023	Dec. 31, 2022
Class Of Stock [Line Items]
Total reserved shares	47,910,141	46,868,302
Employee Stock Option \| Option and Grant Plan
Class Of Stock [Line Items]
Total reserved shares	18,260,813	16,774,634
Equity Plan Stock Options Outstanding
Class Of Stock [Line Items]
Total reserved shares	14,268,055	16,767,752
RSUs Outstanding
Class Of Stock [Line Items]
Total reserved shares	11,301,279	9,914,125
2021 Employee Stock Purchase Plan
Class Of Stock [Line Items]
Total reserved shares	4,079,994	3,411,791

- 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
-Topic 505
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Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Balance Sheet Components

12 Months Ended

Dec. 31, 2023

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, 2023 and 2022.

Prepaid Expenses and Other Current Assets

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


	As of December 31,
	2023		2022
Prepaid hosting	$	6,074	$	9,759
Other prepaid expenses and other assets		10,550		10,576
Total prepaid expense and other current assets	$	16,624	$	20,335

Property and Equipment, Net

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


	As of December 31,
	2023			2022
Office equipment	$	4,427		$	4,062
Furniture and fixtures		1,237			1,533
Leasehold improvements		1,299			1,012
Software		—			13
Internal-use software		10,467			6,825
Total property and equipment		17,430			13,445
Less accumulated depreciation and amortization		(7,362	)		(4,037	)
Property and equipment, net	$	10,068		$	9,408

Depreciation and amortization expense related to property and equipment for the years ended December 31, 2023, 2022, and 2021 was $4.2 million, $2.6 million, and $1.4 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, 2021	$	2,608
Capitalization of internal-use software costs		3,530
Amortization of internal-use software costs		(1,247	)
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

Accrued Expenses

Accrued expenses consisted of the following (in thousands):


	As of December 31,
	2023		2022
Accrued hosting	$	6,506	$	289
Accrued commission		6,383		4,494
Accrued payroll and employee related taxes		2,468		1,580
Accrued sales tax		322		338
Liability from early exercised stock options		20		1,382
2021 Employee Stock Purchase Plan withholding		1,017		1,185
Operating lease liabilities, current		4,571		3,997
Other accrued liabilities		5,370		5,434
Total accrued expenses	$	26,657	$	18,699

Intangible Assets, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Gross Carrying Amount	$ 6,481	$ 6,481
Accumulated Amortization	(5,872)	(4,459)
Total	609	2,022
Developed Technology
Business Acquisition [Line Items]
Gross Carrying Amount	5,550	5,550
Accumulated Amortization	(5,258)	(4,153)
Total	292	1,397
Customer-Related Intangible Assets
Business Acquisition [Line Items]
Gross Carrying Amount	931	931
Accumulated Amortization	(614)	(306)
Total	$ 317	$ 625

Redeemable Convertible Preferred Stock - Additional Information (Details) - shares shares in Thousands	Dec. 31, 2023	Dec. 31, 2022
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

Commitments and Contingencies - Future Minimum Lease Payments (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Leases [Abstract]
2024	$ 4,648
2025	3,374
2026	396
2027	0
2026 and thereafter	0
Total undiscounted operating lease payments	$ 8,418

Balance Sheet Components (Tables)

12 Months Ended

Dec. 31, 2023

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,
	2023		2022
Prepaid hosting	$	6,074	$	9,759
Other prepaid expenses and other assets		10,550		10,576
Total prepaid expense and other current assets	$	16,624	$	20,335

Schedule of Property and Equipment, Net

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


	As of December 31,
	2023			2022
Office equipment	$	4,427		$	4,062
Furniture and fixtures		1,237			1,533
Leasehold improvements		1,299			1,012
Software		—			13
Internal-use software		10,467			6,825
Total property and equipment		17,430			13,445
Less accumulated depreciation and amortization		(7,362	)		(4,037	)
Property and equipment, net	$	10,068		$	9,408

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, 2021	$	2,608
Capitalization of internal-use software costs		3,530
Amortization of internal-use software costs		(1,247	)
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

Schedule of Accrued Expenses

Accrued expenses consisted of the following (in thousands):


	As of December 31,
	2023		2022
Accrued hosting	$	6,506	$	289
Accrued commission		6,383		4,494
Accrued payroll and employee related taxes		2,468		1,580
Accrued sales tax		322		338
Liability from early exercised stock options		20		1,382
2021 Employee Stock Purchase Plan withholding		1,017		1,185
Operating lease liabilities, current		4,571		3,997
Other accrued liabilities		5,370		5,434
Total accrued expenses	$	26,657	$	18,699

Income Taxes - Schedule of Pre-Tax Book Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
United States	$ (95,662)	$ (97,047)	$ (79,354)
Foreign	6,568	4,466	5,400
Worldwide pre-tax loss	$ (89,094)	$ (92,581)	$ (73,954)

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(11))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Operating Leases - Schedule of Operating Lease, Liability, Maturity (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Leases [Abstract]
2024	$ 4,648
2025	3,374
2026	396
2027	0
2028 and thereafter	0
Total undiscounted operating lease payments	8,418
Less: imputed interest	(243)
Total operating lease liabilities	$ 8,175

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

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Equity [Abstract]

Balances as of December 31, 2022

16,767,752

Granted

425,352

Exercised

(1,651,124)

Cancelled/forfeited

(1,273,925)

Balances as of December 31, 2023

14,268,055

^[1]

16,767,752

Exercisable as of December 31, 2023

^[2]

12,494,164

Balances as of December 31, 2022

$ 4.19

Granted

11.94

Exercised

2.8

Cancelled/forfeited

6.32

Balances as of December 31, 2023

4.4

^[1]

$ 4.19

Exercisable as of December 31, 2023

^[2]

$ 3.7

Weighted average remaining contractual life (years), outstanding

6 years 3 months 7 days

^[1]

7 years 2 months 8 days

Weighted average remaining contractual life (years), Exercisable

^[2]

6 years 14 days

Balances as of December 31, 2022

$ 132,298

Balances as of December 31, 2023

118,757

^[1]

$ 132,298

Exercisable as of December 31, 2023

^[2]

$ 112,726

[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, 2023, 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

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 248,491	$ 218,494
Marketable securities, current	73,909	11,971
Accounts receivable, net of allowance for doubtful accounts of $1,101 and $690 as of Decenber 31, 2023 and 2022, respectively	29,496	22,716
Prepaid expenses and other current assets	16,624	20,335
Deferred commissions, current	11,444	10,918
Total current assets	379,964	284,434
Marketable securities, noncurrent	0	71,217
Property and equipment, net	10,068	9,408
Intangible assets, net	609	2,022
Goodwill	4,073	4,073
Restricted cash, noncurrent	869	855
Deferred commissions, noncurrent	26,942	25,799
Operating lease right-of-use assets	6,856	9,593
Other noncurrent assets	4,303	6,354
Total assets	433,684	413,755
Current liabilities:
Accounts payable	3,063	490
Accrued expenses	26,657	18,699
Deferred revenue	102,573	89,993
Total current liabilities	132,293	109,182
Operating lease liabilities, noncurrent	3,604	7,093
Noncurrent liabilities	3,034	2,511
Total liabilities	138,931	118,786
Commitments and contingencies (Note 9)
Stockholders' equity
Preferred stock, $0.00001 par value per share; 20,000 shares authorized as of December 31, 2023 and 2022; zero shares issued and outstanding as of December 31, 2023 and 2022	0	0
Additional paid-in capital	658,463	568,889
Accumulated other comprehensive loss	(181)	(754)
Accumulated deficit	(363,530)	(273,167)
Total stockholders' equity	294,753	294,969
Total liabilities and stockholders' equity	433,684	413,755
Class A Common Stock
Stockholders' equity
Common stock, value	1	1
Class B Common Stock
Stockholders' equity
Common stock, value	$ 0	$ 0

Income Taxes - Schedule of Reconciliation of Income Tax Provision to Federal Income Tax Rate (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Statutory federal income tax rate	21.00%	21.00%	21.00%
State income taxes, net of federal tax benefits	4.11%	4.34%	3.88%
Permanent differences	(0.48%)	(0.29%)	(6.74%)
Tax Credit	7.24%	6.49%	6.12%
Foreign rate differential	0.18%	0.25%	(0.33%)
Stock based compensation	(9.70%)	(3.36%)	88.87%
Other	0.07%	(0.04%)	(0.02%)
Valuation allowance	(23.84%)	(29.25%)	(114.17%)
Total provision	(1.42%)	(0.86%)	(1.39%)

Balance Sheet Components - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property Plant And Equipment [Line Items]
Total property and equipment	$ 17,430	$ 13,445
Less accumulated depreciation and amortization	(7,362)	(4,037)
Property and equipment, net	10,068	9,408
Office Equipment
Property Plant And Equipment [Line Items]
Total property and equipment	4,427	4,062
Furniture and Fixtures
Property Plant And Equipment [Line Items]
Total property and equipment	1,237	1,533
Leasehold Improvements
Property Plant And Equipment [Line Items]
Total property and equipment	1,299	1,012
Software
Property Plant And Equipment [Line Items]
Total property and equipment	0	13
Internal-use software
Property Plant And Equipment [Line Items]
Total property and equipment	$ 10,467	$ 6,825

Stockholders' Equity and Equity Incentive Plans - Schedule of RSU Activity (Details) - RSUs Outstanding	12 Months Ended
	Dec. 31, 2023 $ / shares shares
Class Of Stock [Line Items]
Balance as of December 31, 2022 \| shares	9,914,125
Granted \| shares	9,128,315
Vested \| shares	(4,753,872)
Cancelled/forfeited \| shares	(2,987,289)
Balance as of December 31, 2023 \| shares	11,301,279
Balance as of December 31, 2022 \| $ / shares	$ 19.14
Granted \| $ / shares	12.13
Vested \| $ / shares	17.07
Cancelled/forfeited \| $ / shares	17.57
Balance as of December 31, 2023 \| $ / shares	$ 14.76

Summary of Business and Significant Accounting Policies - Summary of Deferred Commissions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Beginning balance	$ 36,717	$ 28,685
Additions to deferred commissions	13,656	17,740
Amortization of deferred commissions	(11,987)	(9,708)
Ending balance	38,386	36,717
Deferred commissions, current portion	11,444	10,918
Deferred commissions, net of current portion	26,942	25,799
Total deferred commissions	$ 38,386	$ 36,717

Intangible Assets, Net - Schedule of Expected Future Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Intangible Assets And Goodwill Disclosure [Abstract]
2024	$ 509
2025	100
2026	0
2027	0
2028	0
Total	$ 609	$ 2,022

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net loss	$ (90,363)	$ (93,377)	$ (74,983)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	5,620	4,662	3,093
Stock-based compensation expense	88,285	67,223	34,394
Other	(301)	42	1,802
Non-cash operating lease costs	3,917	3,731	0
Changes in operating assets and liabilities:
Accounts receivable	(8,448)	(2,427)	(3,033)
Prepaid expenses and other current assets	3,711	(1,014)	(12,222)
Deferred commissions	(1,670)	(8,032)	(9,245)
Other noncurrent assets	2,050	5,036	(4,491)
Accounts payable	2,498	(2,884)	(1,054)
Accrued expenses	11,873	4,574	5,556
Deferred revenue	12,580	20,698	28,470
Operating lease liabilities	(4,122)	(3,616)	0
Net cash provided by (used in) operating activities	25,630	(5,384)	(31,713)
Cash flows from investing activity:
Cash received from maturities of marketable securities	12,500	0	0
Purchases of marketable securities	0	(83,190)	0
Purchase of property and equipment	(1,279)	(3,632)	(1,529)
Capitalization of internal-use software costs	(1,904)	(2,177)	(1,693)
Cash paid for acquisitions, net of cash acquired	0	(394)	(1,724)
Net cash provided by (used in) investing activities	9,317	(89,393)	(1,498)
Cash flows from financing activity:
Proceeds from the exercise of stock options	4,619	6,910	21,783
Proceeds from issuance of redeemable convertible preferred stock, net	0	0	199,802
Cash received for tax withholding obligations on equity award settlements	13,427	17,992	145,481
Cash paid for tax withholding obligations on equity award settlements	(22,334)	(19,056)	(144,420)
Repurchase of unvested stock options	(648)	(15)	(3)
Net cash provided by (used in) financing activities	(4,936)	5,831	222,643
Net increase (decrease) in cash, cash equivalents, and restricted cash	30,011	(88,946)	189,432
Cash, cash equivalents, and restricted cash at beginning of year	219,349	308,295	118,863
Cash, cash equivalents, and restricted cash at end of year	249,360	219,349	308,295
Supplemental disclosure of cash flow information:
Cash paid for income taxes	454	424	182
Noncash investing and financing activity:
Vesting of early exercised options	715	2,323	1,881
Purchases of property and equipment included in liabilities	86	11	0
Stock-based compensation capitalized as internal-use software costs	$ 1,737	$ 1,353	$ 379

FairValueDisclosuresAbstract - Summarizes of fair value assets (Parenthetical) (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Cash and cash equivalents	$ 36.8	$ 49.8

Intangible Assets, Net (Tables)

12 Months Ended

Dec. 31, 2023

Intangible Assets And Goodwill Disclosure [Abstract]

Schedule of Intangible Assets, Net

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


		As of December 31, 2023										As of December 31, 2022
		Gross Carrying Amount			Accumulated Amortization				Net Carrying Amount			Gross Carrying Amount			Accumulated Amortization				Net Carrying Amount

Developed technology	$		5,550	$		(5,258	)	$		292	$		5,550	$		(4,153	)	$		1,397
Customer related			931			(614	)			317			931			(306	)			625
Intangible assets, net	$		6,481	$		(5,872	)	$		609	$		6,481	$		(4,459	)	$		2,022

Schedule of Expected Future Amortization Expense

As of December 31, 2023, future amortization expense is expected to be as follows (in thousands):


	Amount
2024	$	509
2025		100
2026		—
2027		—
2028		—
Total	$	609

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net Income (Loss)	$ (90,363)	$ (93,377)	$ (74,983)

- Definition

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

+ References

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+ Details

Consolidated Statements of Operations and Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Revenue	$ 276,284	$ 238,067	$ 167,261
Cost of revenue	71,923	70,442	51,764
Gross profit	204,361	167,625	115,497
Operating expenses:
Research and development	90,138	80,589	48,251
Sales and marketing	153,714	129,962	86,025
General and administrative	54,887	53,636	55,370
Restructuring and other related charges	8,142	0	0
Total operating expenses	306,881	264,187	189,646
Other income (expense), net	13,426	3,981	195
Worldwide pre-tax loss	(89,094)	(92,581)	(73,954)
Provision for (benefit from) income taxes	1,269	796	1,029
Net loss	$ (90,363)	$ (93,377)	$ (74,983)
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	$ (0.77)	$ (0.84)	$ (1.46)
Net loss per share attributable to Class A and Class B common stockholders, diluted	$ (0.77)	$ (0.84)	$ (1.46)
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	116,938	111,437	51,360
Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders, diluted	116,938	111,437	51,360
Net unrealized losses on marketable securities	$ 573	$ 754	$ 0
Comprehensive loss	$ (89,790)	$ (94,131)	$ (74,983)

Commitments and Contingencies (Table)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Schedule of Operating Lease, Liability, Maturity

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, 2023 were as follows (in thousands):


Year ending December 31:
2024		4,648
2025		3,374
2026		396
2027		—
2028 and thereafter		—
Total undiscounted operating lease payments	$	8,418
Less: imputed interest		(243	)
Total operating lease liabilities	$	8,175

Insider Trading Arrangements	12 Months Ended
Insider Trading Arrangements	Dec. 31, 2023 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On November 21, 2023, Catherine Wong, a member of our board of directors, adopted a Rule 10b5-1 trading plan that is intended to satisfy the affirmative defense of Rule 10b5-1(c) for the sale of up to 14,060 shares of the Company's Class A common stock until November 30, 2024.
Catherine Wong [Member]
Trading Arrangements, by Individual
Name	Catherine Wong
Title	member of our board of directors
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	November 21, 2023
Termination Date	November 30, 2024.
Aggregate Available	14,060

Income Taxes - Schedule of Deferred Income Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets:
Net operating loss carryforwards	$ 111,904	$ 107,341
Credit Carryforwards	22,428	15,876
Stock-based compensation	7,187	7,124
Accruals and reserves	550	544
Operating lease liability	2,049	2,806
Fixed assets	86	0
Capitalized research and development costs	25,277	14,674
Intangibles	428	145
Accumulated other comprehensive loss	45	190
Other	175	167
Gross tax assets	170,129	148,867
Valuation allowance	(161,456)	(139,291)
Realizable deferred tax assets	8,673	9,576
Deferred tax liabilities:
Deferred commission costs	(9,491)	(8,962)
Operating lease right-of-use assets	(1,720)	(2,428)
Fixed assets	0	(22)
Gross deferred liabilities	(11,211)	(11,412)
Net deferred tax assets (liabilities)	$ (2,538)	$ (1,836)

Employee Benefit Plans	12 Months Ended
Employee Benefit Plans	Dec. 31, 2023
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
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+ Details

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

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,
	2023			2022			2021
United States	$	(95,662	)	$	(97,047	)	$	(79,354	)
Foreign		6,568			4,466			5,400
Worldwide pre-tax loss	$	(89,094	)	$	(92,581	)	$	(73,954	)

Schedule of Income Tax Provisions

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


	Year Ended December 31,
	2023		2022		2021
Current:
Federal	$	—	$	—	$	—
State		51		86		26
Foreign		516		619		583
Total Current	$	567	$	705	$	609
Deferred:
Federal	$	—	$	—	$	(320	)
State		—		—		(57	)
Foreign		702		91		797
Total Provision	$	1,269	$	796	$	1,029

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, 2023, 2022, and 2021 from operations as a result of the following:


	Year Ended December 31,
	2023		2022		2021
Statutory federal income tax rate	21.00	%	21.00	%	21.00	%
State income taxes, net of federal tax benefits	4.11		4.34		3.88
Permanent differences	(0.48)		(0.29)		(6.74)
Tax credits	7.24		6.49		6.12
Foreign rate differential	0.18		0.25		(0.33)
Stock based compensation	(9.70)		(3.36)		88.87
Other	0.07		(0.04)		(0.02)
Valuation allowance	(23.84)		(29.25)		(114.17)
Tax provision	(1.42)	%	(0.86)	%	(1.39)	%

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, 2023 and 2022 related to the following (in thousands):


	Year Ended December 31,
	2023			2022
Deferred tax assets:
Net operating loss carryforwards	$	111,904		$	107,341
Credit carryforwards		22,428			15,876
Stock-based compensation		7,187			7,124
Accruals and reserves		550			544
Operating lease liability		2,049			2,806
Fixed assets		86			—
Capitalized research and development costs		25,277			14,674
Intangibles		428			145
Accumulated other comprehensive loss		45			190
Other		175			167
Gross tax assets		170,129			148,867
Valuation allowance		(161,456	)		(139,291	)
Realizable deferred tax assets		8,673			9,576
Deferred tax liabilities:
Deferred commission costs	$	(9,491	)	$	(8,962	)
Operating lease right-of-use assets		(1,720	)		(2,428	)
Fixed assets		—			(22	)
Gross deferred liabilities		(11,211	)		(11,412	)
Net deferred tax assets (liabilities)	$	(2,538	)	$	(1,836	)

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,
	2023		2022		2021
Beginning balance	$	3,625	$	2,253	$	1,226
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		1,493		1,372		1,027
Ending balance	$	5,118	$	3,625	$	2,253

Summary of Business and Significant Accounting Policies - Summary of Disaggregation of Revenue by Geographic Areas (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Financing Receivable Impaired [Line Items]
Total revenue	$ 276,284	$ 238,067	$ 167,261
United States
Financing Receivable Impaired [Line Items]
Total revenue	167,919	146,415	107,244
International
Financing Receivable Impaired [Line Items]
Total revenue	$ 108,365	$ 91,652	$ 60,017

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

Commitments and Contingencies

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

(9)

Commitments and Contingencies

Legal Matters

The Company is involved in various legal and regulatory matters arising from the normal course of business activities. For example, on February 14, 2024, a putative securities class action (the “Putative Class Action”) was filed in the United States District Court for the Northern District of California captioned Fagan v. Amplitude, Inc., et al., Case No. 3:24-cv-00898, naming us, our Chief Executive Officer, and former Chief Financial Officer as defendants. The lawsuit is purportedly brought on behalf of all those who purchased or acquired our 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 based on allegedly false or misleading statements related to our business and financial outlook. The lawsuit seeks unspecified damages and other relief. The defendants intend to deny the allegations of wrongdoing and vigorously defend against the claims in the Putative Class Action.

We have 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 ourselves, our partners and our customers by determining the scope, enforceability and validity of third-party proprietary rights, or to establish our proprietary rights.

In addition to the matters discussed above, from time to time, we are party to litigation and other legal proceedings in the ordinary course of business. While we do not believe the ultimate resolution of pending legal matters is likely to have a material adverse effect on our 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 our 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.

Stockholders' Equity and Equity Incentive Plans (Tables)

12 Months Ended

Dec. 31, 2023

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,
	2023		2022
2014 Stock Option and Grant Plan and 2021 Incentive Award Plan:
Equity plan stock options outstanding		14,268,055		16,767,752
RSUs outstanding		11,301,279		9,914,125
Shares available for future issuance		18,260,813		16,774,634
2021 Employee Stock Purchase Plan:
Shares available for future issuance		4,079,994		3,411,791
Total reserved shares		47,910,141		46,868,302

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, 2022		16,767,752		$	4.19		7.19	$	132,298
Granted		425,352			11.94
Exercised		(1,651,124	)		2.80
Cancelled/forfeited		(1,273,925	)		6.32
Balances as of December 31, 2023(1)		14,268,055		$	4.40		6.27	$	118,757
Exercisable as of December 31, 2023(2)		12,494,164		$	3.70		6.04	$	112,726

(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, 2023, 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

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,
	2023		2022		2021
Fair value of common stock	$11.37 - $12.37		$14.62 - $15.63		$63.52
Expected dividend yield		—		—		—
Risk-free interest rate	3.59% - 4.36%		3.01% - 3.36%			1.32	%
Expected volatility	56.5% - 56.8%		55.3% - 55.6%			60.0	%
Expected term (years)	5.5 - 6.0		6.0 - 6.3			6.3

Schedule of RSU Activity

RSU activity for the year ended December 31, 2023 was as follows:


	Restricted stock units			Weighted-average grant date fair value per share
Balance as of December 31, 2022		9,914,125		$	19.14
Granted		9,128,315			12.13
Vested		(4,753,872	)		17.07
Cancelled/forfeited		(2,987,289	)		17.57
Balance as of December 31, 2023		11,301,279		$	14.76

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,
	2023		2022		2021
Cost of revenue	$	7,300	$	6,468	$	1,951
Research and development		36,643		27,855		13,613
Sales and marketing		29,404		17,143		7,871
General and administrative		14,085		15,757		10,959
Restructuring and other related charges		853		—		—
Total stock-based compensation expense	$	88,285	$	67,223	$	34,394

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,
	2023		2022		2021
Fair value of common stock	$9.98 - $10.76		$14.77 - $17.04		$66.07
Expected dividend yield		—		—		—
Risk-free interest rate	4.75% - 5.41%		1.54% - 4.63%		0.10% - 0.20%
Expected volatility	56.8% - 60.0%		60.0%		60.0%
Expected term (years)	0.5 - 1.0		0.5 - 1.0		0.5 - 1.0

Operating Leases - Components of lease expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease cost	$ 3,917	$ 3,731
Short-term lease cost	894	796
Total lease cost	$ 4,811	$ 4,527
Weighted average remaining term (years)	1 year 10 months 17 days	2 years 9 months 14 days
Weighted average discount rate	3.49%	3.13%

Summary of Business and Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Summary of Remaining Performance Obligations

The Company’s remaining performance obligations as of December 31, 2023 are expected to be recognized as follows (in thousands):


	As of December 31,
	2023		2022
Less than or equal to 12 months	$	188,456	$	190,595
Greater than 12 months		50,962		57,581
Total remaining performance obligations	$	239,418	$	248,176

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,
	2023		2022		2021
United States	$	167,919	$	146,415	$	107,244
International		108,365		91,652		60,017
Total revenue	$	276,284	$	238,067	$	167,261

Summary of Deferred Commissions

The following table represents a roll-forward of the Company’s deferred commissions as of December 31, 2023 and 2022 (in thousands):


	Year Ended December 31,
	2023			2022
Beginning balance	$	36,717		$	28,685
Additions to deferred commissions		13,656			17,740
Amortization of deferred commissions		(11,987	)		(9,708	)
Ending balance		38,386			36,717
Deferred commissions, current portion		11,444			10,918
Deferred commissions, net of current portion		26,942			25,799
Total deferred commissions	$	38,386		$	36,717

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,
	2023		2022
Cash and cash equivalents	$	248,491	$	218,494
Restricted cash, noncurrent		869		855
Total cash, cash equivalents, and restricted cash	$	249,360	$	219,349

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

Subsequent Events - Additional Information (Details) - USD ($) $ in Millions	2 Months Ended	12 Months Ended
	Feb. 29, 2024	Dec. 31, 2023	Dec. 31, 2021
Subsequent Event [Line Items]
Issuance of shares to employees with service based vesting conditions		425,352
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	600,000
Issuance of shares to employees, grant date fair value	$ 8.2
RSUs \| Subsequent Event \| Maximum [Member]
Subsequent Event [Line Items]
Vesting period of units issued	3 years

Income Taxes

12 Months Ended

Dec. 31, 2023

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,
	2023			2022			2021
United States	$	(95,662	)	$	(97,047	)	$	(79,354	)
Foreign		6,568			4,466			5,400
Worldwide pre-tax loss	$	(89,094	)	$	(92,581	)	$	(73,954	)

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


	Year Ended December 31,
	2023		2022		2021
Current:
Federal	$	—	$	—	$	—
State		51		86		26
Foreign		516		619		583
Total Current	$	567	$	705	$	609
Deferred:
Federal	$	—	$	—	$	(320	)
State		—		—		(57	)
Foreign		702		91		797
Total Provision	$	1,269	$	796	$	1,029


	Year Ended December 31,
	2023		2022		2021
Statutory federal income tax rate	21.00	%	21.00	%	21.00	%
State income taxes, net of federal tax benefits	4.11		4.34		3.88
Permanent differences	(0.48)		(0.29)		(6.74)
Tax credits	7.24		6.49		6.12
Foreign rate differential	0.18		0.25		(0.33)
Stock based compensation	(9.70)		(3.36)		88.87
Other	0.07		(0.04)		(0.02)
Valuation allowance	(23.84)		(29.25)		(114.17)
Tax provision	(1.42)	%	(0.86)	%	(1.39)	%


	Year Ended December 31,
	2023			2022
Deferred tax assets:
Net operating loss carryforwards	$	111,904		$	107,341
Credit carryforwards		22,428			15,876
Stock-based compensation		7,187			7,124
Accruals and reserves		550			544
Operating lease liability		2,049			2,806
Fixed assets		86			—
Capitalized research and development costs		25,277			14,674
Intangibles		428			145
Accumulated other comprehensive loss		45			190
Other		175			167
Gross tax assets		170,129			148,867
Valuation allowance		(161,456	)		(139,291	)
Realizable deferred tax assets		8,673			9,576
Deferred tax liabilities:
Deferred commission costs	$	(9,491	)	$	(8,962	)
Operating lease right-of-use assets		(1,720	)		(2,428	)
Fixed assets		—			(22	)
Gross deferred liabilities		(11,211	)		(11,412	)
Net deferred tax assets (liabilities)	$	(2,538	)	$	(1,836	)

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.

At December 31, 2023, the Company had approximately $434.5 million, $311.6 million, and $0.4 million of net operating loss carryforwards available to offset future federal, state, and foreign 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 $409.1 million of carryforward losses will carryforward indefinitely. State carryforwards will expire beginning 2030. The foreign losses can be carried forward indefinitely.

At December 31, 2023, the Company had tax credit carryforwards of $13.0 million and $11.7 million, net of reserves to offset future federal and state tax and $0.2 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, 2023, the Company had unrecognized income tax benefits of $5.1 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,
	2023		2022		2021
Beginning balance	$	3,625	$	2,253	$	1,226
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		1,493		1,372		1,027
Ending balance	$	5,118	$	3,625	$	2,253

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, 2023.

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, 2023, 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 taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: 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 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-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 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
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-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Balance Sheet Components - Schedule Of Carrying value Of Capitalized Internal Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Capitalized Computer Software, Net, Beginning Balance	$ 4,891	$ 2,608
Capitalization of internal-use software costs	3,641	3,530
Amortization of internal-use software costs	(2,350)	(1,247)
Capitalized Computer Software, Net, Ending Balance	$ 6,182	$ 4,891

Condensed Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders' Equity (Deficit) (Parenthetical) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)
Statement of Stockholders' Equity [Abstract]
Net issuance costs of redeemable convertible preferred stock	$ 198

Condensed Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders' Equity (Deficit) - USD ($) $ in Thousands	Total	Redeemable Convertible Preferred Stock	Additional Paid-in Capital	Accumulated other comprehensive	Accumulated Deficit	Common Stock [Member] Class A and Class B common stock
Beginning balance at Dec. 31, 2020	$ (67,120)		$ 37,704		$ (104,824)
Beginning balance, Shares at Dec. 31, 2020						27,924
Temporary equity, beginning balance, Shares at Dec. 31, 2020		61,717
Temporary equity, beginning balance at Dec. 31, 2020		$ 187,811
Stock-based compensation expense	34,773		34,773
Issuance of redeemable convertible preferred stock, net of issuance costs		$ 199,802
Issuance of redeemable convertible preferred stock, net of issuance costs, shares		6,247
Conversion of redeemable convertible preferred stock to common stock upon Direct Listing	387,613		387,612			$ 1
Temporary equity, Conversion of redeemable convertible preferred stock to common stock upon Direct Listing, Shares		(67,964)
Temporary equity, Conversion of redeemable convertible preferred stock to common stock upon Direct Listing		$ (387,613)
Conversion of redeemable convertible preferred stock to common stock upon Direct Listing, Shares						67,964
Exercise of stock options	16,982		16,982
Exercise of stock options, Shares						10,301
Vesting of early exercised stock options	1,881		1,881
Vesting of restricted stock awards, Shares						2,617
Issuance of common stock in connection with an acquisition	7,402		7,402
Issuance of common stock in connection with an acquisition, Shares						1,070
Net Income (Loss)	(74,983)				(74,983)
Ending balance at Dec. 31, 2021	306,548		486,354		(179,807)	$ 1
Ending 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	1,651,124					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

Stockholders' Equity and Equity Incentive Plans - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Class Of Stock [Line Items]
Exercise of stock options, Shares	1,651,124
Total stock-based compensation expense	$ 88,285	$ 67,223	$ 34,394
Employee Stock Option
Class Of Stock [Line Items]
Options, vesting period			4 years
intrinsic value	$ 16,400	$ 23,300	$ 519,100
Weighted-average grant date fair value	$ 6.69	$ 8.27	$ 6.02
R S Us
Class Of Stock [Line Items]
Total stock-based compensation expense	$ 77,100	$ 46,000	$ 15,400
Fair value shares vested	$ 56,300	$ 25,400	$ 132,700
2014 Stock Option Plan
Class Of Stock [Line Items]
Options, vesting period	4 years
Unrecognized share-based compensation expense	$ 11,000
Unrecognized share-based compensation expense recognition period (term)	2 years 3 months 7 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	$ 149,600
Unrecognized share-based compensation expense recognition period (term)	2 years 1 month 24 days
Non-employee stock options outstanding	159,521
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	18,260,813
Purchase price	85.00%
2021 Employee Stock Purchase Plan
Class Of Stock [Line Items]
Exercise of stock options, Shares	824,133	350,341,000
Initial offering period	The initial offering period under the ESPP was longer than 12 months
Commencement date	Sep. 28, 2021
Ending date	Nov. 14, 2022
Total stock-based compensation expense	$ 800
Unrecognized stock-based compensation expense	$ 2,400	$ 5,700
Weighted-average remaining vesting period	6 months 18 days
2021 Employee Stock Purchase Plan \| Class A Common Stock
Class Of Stock [Line Items]
Shares reserved for issuance	4,079,994,000

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Accounts Receivable, Allowance for Credit Loss, Current	$ 1,101	$ 690
Preferred Stock, Par or Stated Value Per Share	$ 0.00001	$ 0.00001
Preferred Stock, Shares Authorized	20,000,000	20,000,000
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	600,000,000	600,000,000
Common Stock, Shares, Issued	85,628,000	76,351,000
Common Stock, Shares, Outstanding	85,628,000	76,351,000
Class B Common Stock
Common Stock, Par or Stated Value Per Share	$ 0.00001	$ 0.00001
Common Stock, Shares Authorized	600,000,000	600,000,000
Common Stock, Shares, Issued	34,382,000	37,848,000
Common Stock, Shares, Outstanding	34,382,000	37,848,000

Fair Value Measurements

12 Months Ended

Dec. 31, 2023

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, 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 securities			74,090			—			(181	)			73,909
Total	$		285,831	$		—	$		(181	)	$		285,650


		As of December 31, 2022

		Amortized Cost			Gross Unrealized Gains			Gross Unrealized Losses				Estimated Fair Value
Level 1:
Cash equivalents(1)
Money market funds	$		168,730	$		—	$		—		$		168,730
Level 2:
Available-for-sale securities
U.S. governmental securities			83,942			—			(754	)			83,188
Total	$		252,672	$		—	$		(754	)	$		251,918

(1)

Included in “Cash and cash equivalents” in the Company's consolidated balance sheets as of December 31, 2023 and 2022, in addition to cash of $36.8 million and $49.8 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, 2023, by remaining contractual maturities, was as follows (in thousands):


	As of December 31, 2023
Due in one year or less	$	73,909
Due in greater than one year		—
Total	$	73,909

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, 2023. 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, 2023 and 2022 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.

+ References + Details

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	(12) Subsequent Events In January and February 2024, the Company issued 0.6 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 2024 was approximately $8.2 million.

Operating Lease (Additional Information) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021 USD ($)
Leases [Abstract]
Rent Expense	$ 3.9

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Document and Entity Information - USD ($) $ in Millions	Dec. 31, 2023	Feb. 16, 2024	Jun. 30, 2023
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2023
Document Fiscal Year Focus	2023
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			$ 770.8
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 2024 annual meeting of stockholders, which will be filed with the Securities and Exchange Commission no later than 120 days after December 31, 2023, are incorporated by reference in Part III of this Annual Report on Form 10-K.
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		86,010,384
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		34,405,488

Income Taxes - Schedule of Income Tax Provisions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current:
Federal	$ 0	$ 0	$ 0
State	51	86	26
Foreign	516	619	583
Total Current	567	705	609
Deferred:
Federal	0	0	(320)
State	0	0	(57)
Foreign	702	91	797
Total Provision	$ 1,269	$ 796	$ 1,029

Operating Leases - Summary of Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 1,079	$ 1,476
Cash paid for operating lease liabilities	$ 4,122	$ 3,616

Balance Sheet Components - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Depreciation and amortization	$ 4.2	$ 2.6	$ 1.4

Operating Leases (Tables)

12 Months Ended

Dec. 31, 2023

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,
	2023		2022
Operating lease cost	$	3,917	$	3,731
Short-term lease cost		894		796
Total lease cost	$	4,811	$	4,527


	As of December 31,
	2023			2022
Weighted average remaining term (years)		1.88			2.79
Weighted average discount rate		3.49	%		3.13	%

Summary of Supplemental Cash Flow Information

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


	Year Ended December 31,
	2023		2022
Right-of-use assets obtained in exchange for new operating lease liabilities	$	1,079	$	1,476
Cash paid for operating lease liabilities	$	4,122	$	3,616

Schedule of Operating Lease, Liability, Maturity


Year ending December 31:
2024		4,648
2025		3,374
2026		396
2027		—
2028 and thereafter		—
Total undiscounted operating lease payments	$	8,418
Less: imputed interest		(243	)
Total operating lease liabilities	$	8,175

Balance Sheet Components - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Prepaid hosting	$ 6,074	$ 9,759
Other prepaid expenses and other assets	10,550	10,576
Total prepaid expense and other current assets	$ 16,624	$ 20,335

Fair Value Measurements - Contractual maturities of available-for-sale securities (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Fair Value Disclosures [Abstract]
Due in one year or less	$ 73,909
Due in greater than one year	0
Total	$ 73,909

Summary of Business and Significant Accounting Policies-Summary of Remaining Performance Obligations (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Less than or equal to 12 months	$ 188,456	$ 190,595
Greater than 12 months	50,962	57,581
Total remaining performance obligations	$ 239,418	$ 248,176

Intangible Assets, Net - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Amortization of intangible assets	$ 1.4	$ 2.1	$ 1.7

Stockholders' Equity and Equity Incentive Plans - Schedule of Stock Based Compensation Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Class Of Stock [Line Items]
Total stock-based compensation expense	$ 88,285	$ 67,223	$ 34,394
Cost of Revenue
Class Of Stock [Line Items]
Total stock-based compensation expense	7,300	6,468	1,951
Research and Development
Class Of Stock [Line Items]
Total stock-based compensation expense	36,643	27,855	13,613
Sales and Marketing
Class Of Stock [Line Items]
Total stock-based compensation expense	29,404	17,143	7,871
General and Administrative
Class Of Stock [Line Items]
Total stock-based compensation expense	14,085	15,757	10,959
Restructuring and other related charges
Class Of Stock [Line Items]
Total stock-based compensation expense	$ 853	$ 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

Operating Leases

12 Months Ended

Dec. 31, 2023

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,
	2023		2022
Operating lease cost	$	3,917	$	3,731
Short-term lease cost		894		796
Total lease cost	$	4,811	$	4,527


	As of December 31,
	2023			2022
Weighted average remaining term (years)		1.88			2.79
Weighted average discount rate		3.49	%		3.13	%

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


	Year Ended December 31,
	2023		2022
Right-of-use assets obtained in exchange for new operating lease liabilities	$	1,079	$	1,476
Cash paid for operating lease liabilities	$	4,122	$	3,616


Year ending December 31:
2024		4,648
2025		3,374
2026		396
2027		—
2028 and thereafter		—
Total undiscounted operating lease payments	$	8,418
Less: imputed interest		(243	)
Total operating lease liabilities	$	8,175

For the year ended December 31, 2021, rent expense was $3.9 million.

Net Loss Per Share (Tables)

12 Months Ended

Dec. 31, 2023

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,
	2023			2022			2021
Net loss attributable to Class A and Class B common stockholders	$	(90,363	)	$	(93,377	)	$	(74,983	)
Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders, basic and diluted		116,938			111,437			51,360
Net loss per share attributable to Class A and Class B common stockholders, basic and diluted	$	(0.77	)	$	(0.84	)	$	(1.46	)

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,
	2023		2022		2021
Equity plan stock options outstanding		14,268		16,768		21,214
Equity plan stock options early exercised		5		235		799
RSUs outstanding		11,301		9,914		1,717
Restricted shares		—		241		362
Shares issuable pursuant to the ESPP		449		558		198
Total		26,023		27,716		24,290

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, 2023	Dec. 31, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Fair value of common stock			$ 66.07
Expected dividend yield	0.00%	0.00%	0.00%
Expected volatility		60.00%	60.00%
Minimum
Class of Stock [Line Items]
Fair value of common stock	$ 9.98	$ 14.77
Risk-free interest rate	4.75%	1.54%	0.10%
Expected volatility	56.80%
Contractual term (years)	6 months	6 months	6 months
Maximum
Class of Stock [Line Items]
Fair value of common stock	$ 10.76	$ 17.04
Risk-free interest rate	5.41%	4.63%	0.20%
Expected volatility	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			$ 63.52
Expected dividend yield		0.00%	0.00%
Risk-free interest rate			1.32%
Expected volatility			60.00%
Contractual term (years)			6 years 3 months 18 days
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

Stockholders' Equity and Equity Incentive Plans

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Stockholders' Equity (Deficit) and Equity Incentive Plans

(5)

Stockholders’ Equity and Equity Incentive Plans

Preferred stock

In connection with 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,
	2023		2022
2014 Stock Option and Grant Plan and 2021 Incentive Award Plan:
Equity plan stock options outstanding		14,268,055		16,767,752
RSUs outstanding		11,301,279		9,914,125
Shares available for future issuance		18,260,813		16,774,634
2021 Employee Stock Purchase Plan:
Shares available for future issuance		4,079,994		3,411,791
Total reserved shares		47,910,141		46,868,302

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, 2023, a total of 18,260,813 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, 2022		16,767,752		$	4.19		7.19	$	132,298
Granted		425,352			11.94
Exercised		(1,651,124	)		2.80
Cancelled/forfeited		(1,273,925	)		6.32
Balances as of December 31, 2023(1)		14,268,055		$	4.40		6.27	$	118,757
Exercisable as of December 31, 2023(2)		12,494,164		$	3.70		6.04	$	112,726

(1)

(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, 2023, 2022, and 2021 was $16.4 million, $23.3 million, and $519.1 million, respectively.

Stock options granted during the years ended December 31, 2023, 2022, and 2021 had a weighted average grant date fair value of $6.69, $8.27, and $6.02 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, 2023, total unrecognized stock-based compensation expense related to options outstanding under the combined stock plans was $11.0 million. This unrecognized expense as of December 31, 2023 is expected to be recognized over the weighted average remaining vesting period of 2.27 years. As of December 31, 2023, 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,
	2023		2022		2021
Fair value of common stock	$11.37 - $12.37		$14.62 - $15.63		$63.52
Expected dividend yield		—		—		—
Risk-free interest rate	3.59% - 4.36%		3.01% - 3.36%			1.32	%
Expected volatility	56.5% - 56.8%		55.3% - 55.6%			60.0	%
Expected term (years)	5.5 - 6.0		6.0 - 6.3			6.3

Restricted Stock Units

RSUs granted under the 2021 Plan generally vest based on continued service. RSUs granted pursuant to the 2014 Plan vest according to a service condition as well as a performance condition, through a liquidity event, including (i) a change in control of the Company or (ii) the initial public offering of the Company’s equity securities, following which the securities shall be publicly traded, which includes a direct listing. As a result of the Direct Listing, the performance condition for all RSUs granted pursuant to the 2014 Plan has been met. During the years ended December 31, 2023, 2022, and 2021, the Company recorded $77.1 million, $46.0 million, and $15.4 million in expense related to RSUs, respectively.

The total fair value of RSUs vested during the years ended December 31, 2023, 2022, and 2021 was $56.3 million, $25.4 million, and $132.7 million, respectively. As of December 31, 2023, total unrecognized stock-based compensation expense related to RSUs was $149.6 million. This unrecognized expense as of December 31, 2023 is expected to be recognized over the weighted

average remaining vesting period of 2.15 years. As of December 31, 2023, the Company had 159,521 shares of non-employee RSUs outstanding under the combined stock plans.

RSU activity for the year ended December 31, 2023 was as follows:


	Restricted stock units			Weighted-average grant date fair value per share
Balance as of December 31, 2022		9,914,125		$	19.14
Granted		9,128,315			12.13
Vested		(4,753,872	)		17.07
Cancelled/forfeited		(2,987,289	)		17.57
Balance as of December 31, 2023		11,301,279		$	14.76

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, 2023, a total of 4,079,994 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 initial offering period under the ESPP was longer than 12 months, commencing on September 28, 2021 and ending on November 14, 2022. The first purchase period commenced on September 28, 2021 and ended on May 14, 2022. 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 each of the purchase periods since the initial purchase period on May 14, 2022 through the purchase period that ended on May 14, 2023, the corresponding offering periods were terminated and participants were automatically enrolled in a new 12-month offering period. The impact of the rollover feature did not result in material incremental compensation cost for the year ended December 31, 2023.

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,
	2023		2022		2021
Fair value of common stock	$9.98 - $10.76		$14.77 - $17.04		$66.07
Expected dividend yield		—		—		—
Risk-free interest rate	4.75% - 5.41%		1.54% - 4.63%		0.10% - 0.20%
Expected volatility	56.8% - 60.0%		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 a group of industry peers as sufficient history is not available for our 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, 2023 and 2022, 824,133 and 350,341 shares have been purchased under the ESPP, respectively. During the years ended December 31, 2023 and 2022, the Company recognized $2.4 million and $5.7 million, respectively, of stock-based

compensation expense related to the ESPP. As of December 31, 2023, total unrecognized compensation costs related to the ESPP was $0.8 million, which will be amortized over a weighted average period of 0.55 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,
	2023		2022		2021
Cost of revenue	$	7,300	$	6,468	$	1,951
Research and development		36,643		27,855		13,613
Sales and marketing		29,404		17,143		7,871
General and administrative		14,085		15,757		10,959
Restructuring and other related charges		853		—		—
Total stock-based compensation expense	$	88,285	$	67,223	$	34,394

- 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//1943274/2147481062/946-235-50-2

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//1943274/2147481062/946-235-50-2

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//1943274/2147481004/946-505-50-6

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
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

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

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

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 16
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-16

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-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

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, 2023	Dec. 31, 2022	Dec. 31, 2021
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from computation of diluted net loss per share	26,023	27,716	24,290
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	14,268	16,768	21,214
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	5	235	799
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	11,301	9,914	1,717
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	0	241	362
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	449	558	198

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2023

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, 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 securities			74,090			—			(181	)			73,909
Total	$		285,831	$		—	$		(181	)	$		285,650


		As of December 31, 2022

		Amortized Cost			Gross Unrealized Gains			Gross Unrealized Losses				Estimated Fair Value
Level 1:
Cash equivalents(1)
Money market funds	$		168,730	$		—	$		—		$		168,730
Level 2:
Available-for-sale securities
U.S. governmental securities			83,942			—			(754	)			83,188
Total	$		252,672	$		—	$		(754	)	$		251,918

(1)

Included in “Cash and cash equivalents” in the Company's consolidated balance sheets as of December 31, 2023 and 2022, in addition to cash of $36.8 million and $49.8 million, respectively.

Schedule of available for sale securities reconciliation

The fair value of the Company's available-for-sale securities as of December 31, 2023, by remaining contractual maturities, was as follows (in thousands):


	As of December 31, 2023
Due in one year or less	$	73,909
Due in greater than one year		—
Total	$	73,909

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, 2023	Dec. 31, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Fair value of common stock			$ 66.07
Expected dividend yield	0.00%	0.00%	0.00%
Expected volatility		60.00%	60.00%
Minimum [Member]
Class of Stock [Line Items]
Fair value of common stock	$ 9.98	$ 14.77
Risk-free interest rate	4.75%	1.54%	0.10%
Expected volatility	56.80%
Expected term (years)	6 months	6 months	6 months
Maximum [Member]
Class of Stock [Line Items]
Fair value of common stock	$ 10.76	$ 17.04
Risk-free interest rate	5.41%	4.63%	0.20%
Expected volatility	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

+ Details

Summary of Business and Significant Accounting Policies - Schedule of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Cash and cash equivalents	$ 248,491	$ 218,494
Restricted cash, noncurrent	869	855
Total cash, cash equivalents, and restricted cash	$ 249,360	$ 219,349

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

Dec. 31, 2023

Dec. 31, 2022

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Amortized Cost

$ 285,831

$ 252,672

Gross Unrealized Gains

Gross Unrealized Losses

(181)

(754)

Estimated Fair Value

285,650

251,918

Fair Value Level 1 | Money market funds

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Amortized Cost

^[1]

211,741

168,730

Gross Unrealized Gains

^[1]

Gross Unrealized Losses

^[1]

Estimated Fair Value

^[1]

211,741

168,730

Fair Value Level 2 | U.S. governmental securities

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Amortized Cost

74,090

83,942

Gross Unrealized Gains

Gross Unrealized Losses

(181)

(754)

Estimated Fair Value

$ 73,909

$ 83,188

[1]	Included in “Cash and cash equivalents” in the Company's consolidated balance sheets as of December 31, 2023 and 2022, in addition to cash of $36.8 million and $49.8 million, respectively.

Summary of Business and Significant Accounting Policies - Schedule of Estimated Useful Lives of Property and Equipment (Details)	Dec. 31, 2023
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

Restructuring (Additional Information) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restructuring Reserve [Abstract]
Restructuring and other related charges	$ 8,142	$ 0	$ 0

Income Taxes - Summary of Reconciliation of Unrecognized Tax Benefit (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Beginning Balance	$ 3,625	$ 2,253	$ 1,226
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	1,493	1,372	1,027
Ending Balance	$ 5,118	$ 3,625	$ 2,253

Intangible Assets, Net

12 Months Ended

Dec. 31, 2023

Intangible Assets And Goodwill Disclosure [Abstract]

Intangible Assets, Net

(4)

Intangible Assets, Net

Intangible Assets Other Than Goodwill

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


		As of December 31, 2023										As of December 31, 2022
		Gross Carrying Amount			Accumulated Amortization				Net Carrying Amount			Gross Carrying Amount			Accumulated Amortization				Net Carrying Amount

Developed technology	$		5,550	$		(5,258	)	$		292	$		5,550	$		(4,153	)	$		1,397
Customer related			931			(614	)			317			931			(306	)			625
Intangible assets, net	$		6,481	$		(5,872	)	$		609	$		6,481	$		(4,459	)	$		2,022

Amortization expense of intangible assets was $1.4 million, $2.1 million, and $1.7 million for the years ended December 31, 2023, 2022, and 2021, respectively.

As of December 31, 2023, future amortization expense is expected to be as follows (in thousands):


	Amount
2024	$	509
2025		100
2026		—
2027		—
2028		—
Total	$	609

Restructuring

12 Months Ended

Dec. 31, 2023

Restructuring Reserve [Abstract]

Restructuring

(11)

Restructuring

In April 2023, the Company authorized a restructuring plan (the “Restructuring Plan”) to reduce its global workforce to improve operational efficiencies and reduce operating costs. In connection with the Restructuring Plan, the Company incurred non-recurring charges of $8.1 million related to employee transition, severance payments, employee benefits, and stock-based compensation.

These amounts are included in “Restructuring and other related charges” within the Company's consolidated statements of operations and comprehensive loss as they are incurred, and included in “Accrued expenses” within the Company's consolidated balance sheet if a liability exists as of the respective balance sheet date.

The following table summarizes the Company’s restructuring liabilities (in thousands):


	Accrued restructuring and other related charges
Beginning balance as of January 1, 2023	$	—
Accruals		7,173
Payments		(7,173	)
Ending balance as of December 31, 2023	$	—

Summary of Business and Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2023

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 Company’s chief operating decision maker is its Chief Executive Officer, who reviews financial information presented on a consolidated basis for purposes of making operating decisions, assessing financial performance, and allocating resources. Long-lived assets outside of the United States are immaterial. For information regarding the Company’s revenue by geographic area, see the Disaggregation of Revenue section below.

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.

Direct Listing

On September 21, 2021, the Company’s registration statement (the “Registration Statement”) related to the direct listing of the Company's Class A common stock on the Nasdaq Capital Market (the “Direct Listing”) was declared effective by the SEC, and on September 28, 2021, the Company’s Class A common stock commenced trading. The Company incurred fees related to financial advisory service, audit, and legal expenses in connection with the Direct Listing and recorded general and administrative expenses of $18.2 million for the year ended December 31, 2021.

Prior to the Direct Listing, on August 30, 2021, an amended and restated certificate of incorporation of the Company was filed with the Secretary of State of the State of Delaware, which resulted in the creation of Class A common stock and Class B common stock. All existing shares of common stock issued and outstanding were reclassified into shares of Class B common stock.

Upon the effectiveness of the Registration Statement, all 68.0 million outstanding shares of redeemable convertible preferred stock were converted into an equivalent number of shares of Class B common stock.

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. The typical subscription term is 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, 2023, the unrecognized transaction price related to remaining performance obligations was $239.4 million.

The Company’s remaining performance obligations as of December 31, 2023 are expected to be recognized as follows (in thousands):


	As of December 31,
	2023		2022
Less than or equal to 12 months	$	188,456	$	190,595
Greater than 12 months		50,962		57,581
Total remaining performance obligations	$	239,418	$	248,176

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,
	2023		2022		2021
United States	$	167,919	$	146,415	$	107,244
International		108,365		91,652		60,017
Total revenue	$	276,284	$	238,067	$	167,261

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 $1.1 million and $0.7 million for doubtful accounts as of December 31, 2023 and 2022, 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, 2023, 2022, and 2021. As of the year ended December 31, 2023, one customer represented 10% of accounts receivable. As of the year end December 31, 2022 no customers represented 10% or more 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, 2023 and 2022 that was included in deferred revenue at the beginning of the period was $89.6 million and $68.8 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 our subscription contracts, historical customer attrition rates, technological life of our 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, 2023 and 2022 (in thousands):


	Year Ended December 31,
	2023			2022
Beginning balance	$	36,717		$	28,685
Additions to deferred commissions		13,656			17,740
Amortization of deferred commissions		(11,987	)		(9,708	)
Ending balance		38,386			36,717
Deferred commissions, current portion		11,444			10,918
Deferred commissions, net of current portion		26,942			25,799
Total deferred commissions	$	38,386		$	36,717

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 $5.5 million, $5.8 million, and $4.5 million were incurred during the years ended December 31, 2023, 2022, and 2021, 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. The Company also has certain options and awards that have performance-based vesting conditions upon certain liquidity events. As a result of the Direct Listing, the liquidity event was met for all outstanding awards with a performance condition and therefore the related expense was recognized using the accelerated attribution method. 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. The volatility 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, 2023 and 2022, $0.9 million of restricted cash is 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,
	2023		2022
Cash and cash equivalents	$	248,491	$	218,494
Restricted cash, noncurrent		869		855
Total cash, cash equivalents, and restricted cash	$	249,360	$	219,349

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 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, cash equivalents, restricted cash, accounts receivable, accounts payable, and accrued liabilities approximated their carrying values as of December 31, 2023 and 2022 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 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 based on 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, reproduction costs and appropriate discount rates. 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, 2023, 2022, and 2021.

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 three years for all acquired intangibles. 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, 2023, 2022, and 2021.

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, 2023, 2022, and 2021.

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, 2023, 2022, and 2021.

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, 2023, 2022, and 2021. 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, 2023 and 2022.

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, 2023 and 2022.

Recently Adopted Accounting Pronouncements

The Company did not adopt accounting pronouncements during the year ended December 31, 2023.

Recently Issued Accounting Pronouncements

Income Taxes: 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

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, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share [Abstract]
Net loss attributable to Class A and Class B common stockholders	$ (90,363)	$ (93,377)	$ (74,983)
Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders, basic	116,938	111,437	51,360
Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders, diluted	116,938	111,437	51,360
Net loss per share attributable to Class A and Class B common stockholders, basic	$ (0.77)	$ (0.84)	$ (1.46)
Net loss per share attributable to Class A and Class B common stockholders, diluted	$ (0.77)	$ (0.84)	$ (1.46)

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
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+ 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

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+ Details

- Definition

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

+ References

+ Details

Balance Sheet Components - Schedule of Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued hosting	$ 6,506	$ 289
Accrued commission	6,383	4,494
Accrued payroll and employee related taxes	2,468	1,580
Accrued sales tax	322	338
Liability from early exercised stock options	20	1,382
2021 Employee Stock Purchase Plan withholding	1,017	1,185
Operating lease liabilities, current	4,571	3,997
Other accrued liabilities	5,370	5,434
Total accrued expenses	$ 26,657	$ 18,699

Summary of Business and Significant Accounting Policies

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Summary of Business and Significant Accounting Policies

(1)

Summary of Business and Significant Accounting Policies

Description of Business

Segment Information

Basis of Presentation and Principles of Consolidation

Foreign Currency

Direct Listing

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, 2023 are expected to be recognized as follows (in thousands):


	As of December 31,
	2023		2022
Less than or equal to 12 months	$	188,456	$	190,595
Greater than 12 months		50,962		57,581
Total remaining performance obligations	$	239,418	$	248,176

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,
	2023		2022		2021
United States	$	167,919	$	146,415	$	107,244
International		108,365		91,652		60,017
Total revenue	$	276,284	$	238,067	$	167,261

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, 2023 and 2022 (in thousands):


	Year Ended December 31,
	2023			2022
Beginning balance	$	36,717		$	28,685
Additions to deferred commissions		13,656			17,740
Amortization of deferred commissions		(11,987	)		(9,708	)
Ending balance		38,386			36,717
Deferred commissions, current portion		11,444			10,918
Deferred commissions, net of current portion		26,942			25,799
Total deferred commissions	$	38,386		$	36,717

Cost of Revenue

Research and Development Expense

Advertising Costs

Stock-Based Compensation

Taxes

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


	As of December 31,
	2023		2022
Cash and cash equivalents	$	248,491	$	218,494
Restricted cash, noncurrent		869		855
Total cash, cash equivalents, and restricted cash	$	249,360	$	219,349

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

lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option.

Capitalized Internal-Use Software Costs

Impairment of Long-Lived Assets

Net Loss Per Share

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

Warranties

Recently Adopted Accounting Pronouncements

The Company did not adopt accounting pronouncements during the year ended December 31, 2023.

Recently Issued Accounting Pronouncements

Stockholders' Equity and Equity Incentive Plans - Preferred and Common Stock - Additional Information (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Class Of Stock [Line Items]
Preferred Stock, Shares Authorized	20,000,000	20,000,000
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	600,000,000	600,000,000
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	600,000,000	600,000,000
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) $ in Thousands, shares in Millions	1 Months Ended	12 Months Ended
	Sep. 21, 2021	Dec. 31, 2023 USD ($) Segment	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($) shares
Financing Receivable Impaired [Line Items]
Unrecognized transaction price		$ 239,400
Operating segment \| Segment		1
Reportable segment \| Segment		1
General and administrative expenses		$ 54,887	$ 53,636	$ 55,370
Allowance for doubtful accounts		1,100	700
Deferred revenue		89,600	68,800
Deferred commission impairment loss		0
Advertising Expense		$ 5,500	5,800	4,500
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		$ 869	855
Goodwill, impairment loss		0	0	0
Impairment for intangible assets		0	0	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
Direct Listing
Financing Receivable Impaired [Line Items]
General and administrative expenses				$ 18,200
Redeemable convertible shares outstanding \| shares				68.0
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%
Revenue \| Revenue Benchmark \| One Customer
Financing Receivable Impaired [Line Items]
Concentration Risk, Percentage		10.00%	10.00%

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Taxes [Line Items]
Statutory federal income tax rate	21.00%	21.00%	21.00%
NOL carryforwards, federal	$ 434,500
NOL carryforwards, state	311,600
NOL carryforwards, Foreign	400
Unrecognized Tax Benefits	5,118	$ 3,625	$ 2,253	$ 1,226
Federal
Income Taxes [Line Items]
Carryforward that are subject to expiration	$ 25,400
Net operating loss carry forwards, expire period	2032
Tax credit carryforward	$ 13,000
State
Income Taxes [Line Items]
Net operating loss carry forwards, expire period	2030
Carryforwards not subject to expiration	$ 409,100
Tax credit carryforward	11,700
Foreign
Income Taxes [Line Items]
Tax credit carryforward	$ 200

Net Loss Per Share

12 Months Ended

Dec. 31, 2023

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,
	2023			2022			2021
Net loss attributable to Class A and Class B common stockholders	$	(90,363	)	$	(93,377	)	$	(74,983	)
Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders, basic and diluted		116,938			111,437			51,360
Net loss per share attributable to Class A and Class B common stockholders, basic and diluted	$	(0.77	)	$	(0.84	)	$	(1.46	)


	As of December 31,
	2023		2022		2021
Equity plan stock options outstanding		14,268		16,768		21,214
Equity plan stock options early exercised		5		235		799
RSUs outstanding		11,301		9,914		1,717
Restricted shares		—		241		362
Shares issuable pursuant to the ESPP		449		558		198
Total		26,023		27,716		24,290

Restructuring (Tables)

12 Months Ended

Dec. 31, 2023

Restructuring Reserve [Abstract]

Schedule Of Restructuring And Related Costs

The following table summarizes the Company’s restructuring liabilities (in thousands):


	Accrued restructuring and other related charges
Beginning balance as of January 1, 2023	$	—
Accruals		7,173
Payments		(7,173	)
Ending balance as of December 31, 2023	$	—