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AYX Alteryx

Cover Page

Cover Page - shares9 Months Ended
Sep. 30, 2020Oct. 30, 2020
Document Information [Line Items]
Document Type10-Q
Document Quarterly Reporttrue
Document Period End DateSep. 30,
2020
Document Transition Reportfalse
Entity File Number001-38034
Entity Registrant NameAlteryx, Inc.
Entity Incorporation, State or Country CodeDE
Entity Tax Identification Number90-0673106
Entity Address, Address Line One3345 Michelson Drive,
Entity Address, Address Line TwoSuite 400,
Entity Address, City or TownIrvine,
Entity Address, State or ProvinceCA
Entity Address, Postal Zip Code92612
City Area Code888
Local Phone Number836-4274
Title of 12(b) SecurityClass A Common Stock, $0.0001 par value per share
Trading SymbolAYX
Security Exchange NameNYSE
Entity Current Reporting StatusYes
Entity Interactive Data CurrentYes
Entity Filer CategoryLarge Accelerated Filer
Entity Small Businessfalse
Entity Emerging Growth Companyfalse
Entity Shell Companyfalse
Amendment Flagfalse
Document Fiscal Year Focus2020
Document Fiscal Period FocusQ3
Entity Central Index Key0001689923
Current Fiscal Year End Date--12-31
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding54,044,814
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding12,538,443

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019
Revenue:
Total revenue $ 129,717 $ 103,397 $ 334,781 $ 261,460
Cost of revenue:
Total cost of revenue10,414 9,645 33,096 26,940
Gross profit119,303 93,752 301,685 234,520
Operating expenses:
Research and development25,232 17,755 74,669 48,208
Sales and marketing60,920 43,779 184,026 130,414
General and administrative23,518 20,282 71,256 56,652
Total operating expenses109,670 81,816 329,951 235,274
Income (loss) from operations9,633 11,936 (28,266)(754)
Interest expense(9,603)(6,477)(28,402)(12,561)
Other income, net5,137 145 7,205 3,821
Loss on induced conversion and debt extinguishment(1)(20,507)(1)(20,507)
Income (Loss) before provision for (benefit of) income taxes5,166 (14,903)(49,464)(30,001)
Provision for (benefit of) income taxes809 (8,663)(3,055)(26,456)
Net income (loss) $ 4,357 $ (6,240) $ (46,409) $ (3,545)
Net income (loss) per share attributable to common stockholders, basic (in dollars per share) $ 0.07 $ (0.10) $ (0.70) $ (0.06)
Net income (loss) per share attributable to common stockholders, diluted (in dollars per share) $ 0.06 $ (0.10) $ (0.70) $ (0.06)
Weighted-average shares used to compute net income (loss) per share attributable to common stockholders, basic (in shares)66,265 63,966 65,895 62,842
Weighted-average shares used to compute net income (loss) per share attributable to common stockholders, diluted (in shares)69,774 63,966 65,895 62,842
Other comprehensive income (loss), net of tax:
Net unrealized holding gain (loss) on investments, net of tax $ (1,310) $ (2) $ 1,750 $ 912
Foreign currency translation adjustments(1,250)(133)361 49
Other comprehensive income (loss), net of tax(2,560)(135)2,111 961
Total comprehensive income (loss)1,797 (6,375)(44,298)(2,584)
Subscription-based software license
Revenue:
Total revenue63,144 54,332 148,534 125,981
Cost of revenue:
Total cost of revenue1,022 1,082 3,949 2,930
PCS and services
Revenue:
Total revenue66,573 49,065 186,247 135,479
Cost of revenue:
Total cost of revenue $ 9,392 $ 8,563 $ 29,147 $ 24,010

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in ThousandsSep. 30, 2020Dec. 31, 2019
Current assets:
Cash and cash equivalents $ 95,952 $ 409,949
Short-term investments627,259 376,995
Accounts receivable, net61,526 129,912
Prepaid expenses and other current assets81,873 55,129
Total current assets866,610 971,985
Property and equipment, net33,546 20,296
Operating lease right-of-use assets56,336 33,600
Long-term investments259,277 187,921
Goodwill36,930 36,910
Intangible assets, net17,242 22,083
Other assets86,532 69,543
Total assets1,356,473 1,342,338
Current liabilities:
Accounts payable6,481 9,383
Accrued payroll and payroll related liabilities33,099 53,683
Accrued expenses and other current liabilities33,606 31,715
Deferred revenue70,435 83,895
Convertible senior notes, net71,467 68,154
Total current liabilities215,088 246,830
Convertible senior notes, net650,551 630,321
Deferred revenue3,122 2,733
Operating lease liabilities48,026 29,293
Other liabilities3,796 8,254
Total liabilities920,583 917,431
Stockholders’ equity:
Preferred stock, $0.0001 par value: 10,000 shares authorized as of September 30, 2020 and December 31, 2019, respectively; no shares issued and outstanding as of September 30, 2020 and December 31, 2019, respectively0 0
Common stock, $0.0001 par value: 500,000 Class A shares authorized, 53,926 and 52,056 shares issued and outstanding as of September 30, 2020 and December 31, 2019, respectively; 500,000 Class B shares authorized, 12,617 and 13,204 shares issued and outstanding as of September 30, 2020 and December 31, 2019, respectively7 7
Additional paid-in capital468,081 412,191
Retained earnings (accumulated deficit)(32,783)14,235
Accumulated other comprehensive income (loss)585 (1,526)
Total stockholders’ equity435,890 424,907
Total liabilities and stockholders’ equity $ 1,356,473 $ 1,342,338

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / sharesSep. 30, 2020Dec. 31, 2019
Preferred stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Preferred stock, shares authorized (in shares)10,000,000 10,000,000
Preferred stock, shares issued (in shares)0 0
Preferred stock, shares outstanding (in shares)0 0
Class A Common Stock
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Common stock, shares authorized (in shares)500,000,000 500,000,000
Common stock, shares issued (in shares)53,926,000 52,056,000
Common stock, shares outstanding (in shares)53,926,000 52,056,000
Class B Common Stock
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Common stock, shares authorized (in shares)500,000,000 500,000,000
Common stock, shares issued (in shares)12,617,000 13,204,000
Common stock, shares outstanding (in shares)12,617,000 13,204,000

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in ThousandsTotalCommon StockAdditional Paid-in CapitalRetained Earnings (Accumulated Deficit)Accumulated Other Comprehensive Gain (Loss)Cumulative Effect, Period of Adoption, AdjustmentCumulative Effect, Period of Adoption, AdjustmentRetained Earnings (Accumulated Deficit)
Beginning balance (in shares) at Dec. 31, 201861,579
Beginning Balance at Dec. 31, 2018 $ 301,818 $ 6 $ 315,291 $ (12,908) $ (571)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Receipt of Section 16(b) disgorgement, net of tax effect3,743 3,743
Shares issued pursuant to stock awards, net of tax withholdings related to vesting of restricted stock units (in shares)863
Shares issued pursuant to stock awards, net of tax withholdings related to vesting of restricted stock units8,587 8,587
Stock-based compensation5,335 5,335
Equity settled contingent consideration (in shares)21
Equity-settled contingent consideration750 750
Cumulative translation adjustment(1,011)(1,011)
Unrealized gain (loss) on investments, net of tax702 702
Net income (loss)5,914 5,914
Ending balance (in shares) at Mar. 31, 201962,463
Ending Balance at Mar. 31, 2019325,838 $ 6 333,706 (6,994)(880)
Beginning balance (in shares) at Dec. 31, 201861,579
Beginning Balance at Dec. 31, 2018301,818 $ 6 315,291 (12,908)(571)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative translation adjustment49
Unrealized gain (loss) on investments, net of tax912
Net income (loss)(3,545)
Ending balance (in shares) at Sep. 30, 201965,047
Ending Balance at Sep. 30, 2019386,735 $ 7 402,791 (16,453)390
Beginning balance (in shares) at Dec. 31, 201861,579
Beginning Balance at Dec. 31, 2018301,818 $ 6 315,291 (12,908)(571)
Ending balance (in shares) at Dec. 31, 201965,260
Ending Balance at Dec. 31, 2019 $ 424,907 $ 7 412,191 14,235 (1,526) $ (609) $ (609)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible List]us-gaap:AccountingStandardsUpdate201613Member
Beginning balance (in shares) at Mar. 31, 201962,463
Beginning Balance at Mar. 31, 2019 $ 325,838 $ 6 333,706 (6,994)(880)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued pursuant to stock awards, net of tax withholdings related to vesting of restricted stock units (in shares)309
Shares issued pursuant to stock awards, net of tax withholdings related to vesting of restricted stock units(620)(620)
Stock-based compensation8,024 8,024
Cumulative translation adjustment1,193 1,193
Unrealized gain (loss) on investments, net of tax212 212
Net income (loss)(3,219)(3,219)
Ending balance (in shares) at Jun. 30, 201962,772
Ending Balance at Jun. 30, 2019331,428 $ 6 341,110 (10,213)525
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued pursuant to stock awards, net of tax withholdings related to vesting of restricted stock units (in shares)370
Shares issued pursuant to stock awards, net of tax withholdings related to vesting of restricted stock units3,703 3,703
Induced conversion on 2023 Notes, net of tax (in shares)2,190
Induced conversion on 2023 Notes, net of tax(7,904) $ 1 (7,905)
Extinguishment of capped calls (in shares)(285)
Extinguishment of capped calls
Stock-based compensation8,836 8,836
Equity component of 2024 & 2026 Notes, net of issuance costs and tax122,822 122,822
Purchase of capped calls, net of tax(65,775)(65,775)
Cumulative translation adjustment(133)(133)
Unrealized gain (loss) on investments, net of tax(2)(2)
Net income (loss)(6,240)(6,240)
Ending balance (in shares) at Sep. 30, 201965,047
Ending Balance at Sep. 30, 2019386,735 $ 7 402,791 (16,453)390
Beginning balance (in shares) at Dec. 31, 201965,260
Beginning Balance at Dec. 31, 2019424,907 $ 7 412,191 14,235 (1,526)(609)(609)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued pursuant to stock awards, net of tax withholdings related to vesting of restricted stock units (in shares)625
Shares issued pursuant to stock awards, net of tax withholdings related to vesting of restricted stock units1,655 1,655
Stock-based compensation13,664 13,664
Cumulative translation adjustment998 998
Unrealized gain (loss) on investments, net of tax1,243 1,243
Net income (loss)(15,473)(15,473)
Ending balance (in shares) at Mar. 31, 202065,885
Ending Balance at Mar. 31, 2020426,385 $ 7 427,510 (1,847)715
Beginning balance (in shares) at Dec. 31, 201965,260
Beginning Balance at Dec. 31, 2019424,907 $ 7 412,191 14,235 (1,526) $ (609) $ (609)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative translation adjustment361
Unrealized gain (loss) on investments, net of tax1,750
Net income (loss)(46,409)
Ending balance (in shares) at Sep. 30, 202066,543
Ending Balance at Sep. 30, 2020 $ 435,890 $ 7 468,081 (32,783)585
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible List]us-gaap:AccountingStandardsUpdate201613Member
Beginning balance (in shares) at Mar. 31, 202065,885
Beginning Balance at Mar. 31, 2020 $ 426,385 $ 7 427,510 (1,847)715
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued pursuant to stock awards, net of tax withholdings related to vesting of restricted stock units (in shares)259
Shares issued pursuant to stock awards, net of tax withholdings related to vesting of restricted stock units(967)(967)
Stock-based compensation16,923 16,923
Cumulative translation adjustment613 613
Unrealized gain (loss) on investments, net of tax1,817 1,817
Net income (loss)(35,293)(35,293)
Ending balance (in shares) at Jun. 30, 202066,144
Ending Balance at Jun. 30, 2020409,478 $ 7 443,466 (37,140)3,145
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued pursuant to stock awards, net of tax withholdings related to vesting of restricted stock units (in shares)399
Shares issued pursuant to stock awards, net of tax withholdings related to vesting of restricted stock units3,919 3,919
Induced conversion on 2023 Notes, net of tax(1)(1)
Stock-based compensation20,697 20,697
Cumulative translation adjustment(1,250)(1,250)
Unrealized gain (loss) on investments, net of tax(1,310)(1,310)
Net income (loss)4,357 4,357
Ending balance (in shares) at Sep. 30, 202066,543
Ending Balance at Sep. 30, 2020 $ 435,890 $ 7 $ 468,081 $ (32,783) $ 585

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands9 Months Ended
Sep. 30, 2020Sep. 30, 2019
Cash flows from operating activities:
Net income (loss) $ (46,409) $ (3,545)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization8,425 5,800
Non-cash operating lease cost5,594 3,538
Stock-based compensation51,284 22,195
Accretion of discounts and premiums on investments, net(83)(2,472)
Amortization of debt discount and issuance costs23,553 10,949
Deferred income taxes(4,266)(27,267)
Loss on induced conversion and debt extinguishment1 20,507
Other non-cash operating activities, net4,922 1,143
Changes in operating assets and liabilities, net of effect of business acquisitions:
Accounts receivable67,148 26,698
Deferred commissions(1,283)(4,882)
Prepaid expenses, other current assets, and other assets(45,807)(28,949)
Accounts payable(3,056)5,165
Accrued payroll and payroll related liabilities(20,507)1,703
Accrued expenses, other current liabilities, operating lease liabilities, and other liabilities(11,085)441
Deferred revenue(12,138)(17,538)
Net cash provided by operating activities16,293 13,486
Cash flows from investing activities:
Purchases of property and equipment(14,257)(6,160)
Cash paid in business acquisitions, net of cash acquired0 (16,604)
Purchases of investments(884,063)(235,973)
Sales and maturities of investments564,274 231,794
Net cash used in investing activities(334,046)(26,943)
Cash flows from financing activities:
Proceeds from issuance of convertible senior notes, net of issuance costs0 783,946
Principal payments on 2023 convertible senior notes(11)(145,241)
Purchase of capped calls0 (87,360)
Proceeds from receipt of Section 16(b) disgorgement0 4,918
Proceeds from exercise of stock options20,502 18,065
Minimum tax withholding paid on behalf of employees for restricted stock units(15,895)(6,395)
Other financing activity(527)(1,305)
Net cash provided by financing activities4,069 566,628
Effect of exchange rate changes on cash, cash equivalents and restricted cash(311)(323)
Net increase (decrease) in cash, cash equivalents and restricted cash(313,995)552,848
Cash, cash equivalents and restricted cash—beginning of period411,424 90,961
Cash, cash equivalents and restricted cash—end of period97,429 643,809
Supplemental disclosure of cash flow information:
Cash paid for interest6,029 718
Cash paid for income taxes1,788 1,280
Cash paid for amounts included in the measurement of operating lease liabilities7,177 4,468
Supplemental disclosure of noncash investing and financing activities:
Property and equipment recorded in accounts payable and accrued expenses and other current liabilities5,316 1,097
Right-of-use assets obtained in exchange for new operating lease liabilities34,915 12,909
Reduction of right-of-use assets due to remeasurement(5,948)0
Consideration for business acquisition included in accrued expenses and other current liabilities and other liabilities0 3,000
Contingent consideration settled through issuance of common stock0 750
Debt issuance costs recorded in accounts payable and accrued expenses and other current liabilities $ 0 $ 657

Business

Business9 Months Ended
Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BusinessBusiness Our Company Alteryx, Inc. and its subsidiaries, or we, our, or us, is a leader in Analytic Process Automation, or APA. The Alteryx APA software platform unifies analytics, data science and business process automation in one self-service platform to accelerate digital transformation, deliver high-impact business outcomes, accelerate the democratization of data and rapidly upskill modern workforces. Data workers, regardless of technical acumen, are empowered to be curious and solve problems. With the Alteryx APA software platform, users can automate the full range of analytics, data science and processes, embed intelligent decision-making and actions, and empower their organization to deliver faster and better business outcomes. Basis of Presentation Our unaudited interim condensed consolidated financial statements are presented in accordance with accounting standards generally accepted in the United States of America, or U.S. GAAP, for interim financial information. Certain information and disclosures normally included in consolidated financial statements presented in accordance with U.S. GAAP have been condensed or omitted. Accordingly, these unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the related notes included in our Annual Report on Form 10-K for the year ended December 31, 2019 filed with the Securities and Exchange Commission, or SEC, on February 14, 2020. The unaudited interim condensed consolidated financial statements have been prepared on a basis consistent with that used to prepare the audited annual consolidated financial statements and reflect all adjustments which are, in the opinion of our management, of a normal recurring nature and necessary for a fair statement of the condensed consolidated financial statements. All intercompany accounts and transactions have been eliminated in consolidation. The operating results for the three and nine months ended September 30, 2020 are not necessarily indicative of the results expected for the full year ending December 31, 2020.

Significant Accounting Policies

Significant Accounting Policies9 Months Ended
Sep. 30, 2020
Accounting Policies [Abstract]
Significant Accounting PoliciesSignificant Accounting Policies There have been no changes to our accounting policies disclosed in our audited consolidated financial statements and the related notes for the year ended December 31, 2019, other than, during the three months ended March 31, 2020, we adopted new accounting guidance related to the measurement of credit losses and implementation costs incurred in cloud computing arrangements. See Recently Adopted Accounting Pronouncements below and Note 6, Allowance for Doubtful Accounts and Sales Reserves , for additional information. Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from these estimates and assumptions. On an ongoing basis, our management evaluates these estimates and assumptions, including those related to determination of standalone selling prices of our products and services, allowance for doubtful account and sales reserves, income tax valuations, stock-based compensation, goodwill, and intangible assets valuations and recoverability. We base our estimates on historical data and experience, as well as various other factors that our management believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities. Due to the COVID-19 pandemic, there has been uncertainty and disruption in the global economy and financial markets. The extent of the impact of COVID-19 on the Company’s operational and financial performance will depend on certain developments, including the duration and spread of the pandemic and the impact on our customers, prospective customers, sales cycles, and employees, all of which are uncertain and cannot be predicted. Except for the increase in expected credit losses as discussed in Note 6, Allowance for Doubtful Accounts and Sales Reserves, and recognition of a full valuation allowance against our deferred tax assets as discussed in Note 12, Income Taxes , we are not aware of any specific event or circumstance that would require an update to our estimates or assumptions or a revision of the carrying value of our assets or liabilities as of the date of this Quarterly Report on Form 10-Q. These estimates and assumptions may change as new events occur and additional information is obtained. As a result, actual results could differ materially from these estimates and assumptions. Operating Segments Operating segments are defined as components of an enterprise for which separate financial information is evaluated regularly by the Chief Operating Decision Maker, or CODM, who is our chief executive officer, in deciding how to allocate resources and assess our financial and operational performance. Our CODM evaluates our financial information and resources and assesses the performance of these resources on a consolidated and aggregated basis. As a result, we have determined that our business operates in a single operating segment. Recently Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU, 2016-13 Financial Instruments - Credit Losses , or ASC 326. The new standard amends the impairment model to utilize an expected loss methodology in place of the currently used incurred loss methodology. As a result, we are now required to use a forward-looking expected credit loss model for accounts receivables and other commitments to extend credit. Through December 31, 2019, we calculated our allowance for credit losses using a single pool of trade receivables as the basis for our credit loss rate. Effective January 1, 2020, we adopted ASC 326 and made changes to our accounting policies related to credit loss calculations, including the consideration of forecasted economic data and the pooling of financial assets with similar risk profiles, and now recognize credit losses associated with our available-for-sale securities. We adopted the new allowance for credit losses accounting standard on January 1, 2020 by means of a cumulative-effect adjustment, where we recognized the cumulative effect of initially applying the guidance as a $0.6 million addition to our contract asset reserve with an offsetting adjustment to retained earnings. See Note 5, Fair Value Measurements and Note 6, Allowance for Doubtful Accounts and Sales Reserves , for additional details. In August 2018, the FASB issued ASU 2018-15, Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract , which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing costs incurred to develop or obtain internal-use software. We adopted this standard prospectively effective January 1, 2020. As a result of the adoption, we are required to capitalize additional costs related to the implementation of cloud computing arrangements that we have historically expensed as incurred, particularly costs incurred during the application development phase. This policy aligns the accounting for implementation costs associated with cloud computing arrangements with our existing policy related to internal-use software. Capitalized costs related to cloud computing arrangements for the nine months ended September 30, 2020, which are included in prepaid expenses and other current assets on our condensed consolidated balance sheets, were not material. Recently Issued Accounting Pronouncements In August 2020, the FASB issued ASU 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity , or ASU 2020-06, which simplifies the accounting for convertible instruments by removing certain separation models required under current U.S. GAAP, including the beneficial conversion feature and cash conversion models. ASU 2020-06 removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception and it also simplifies the diluted earnings per share calculation in certain areas. This guidance will be effective for us for annual reporting periods beginning after December 15, 2021 and for interim periods within those annual periods, and can be applied utilizing either a modified or full retrospective transition method. Early adoption is permitted. We currently account for our Notes, as described in Note 8, Convertible Senior Notes , utilizing the cash conversion model. We have not yet adopted this standard and are currently evaluating the impact and timing of adopting this guidance and we currently expect that the adoption will have a material impact on our condensed consolidated financial statements and related disclosures.

Revenue

Revenue9 Months Ended
Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
RevenueRevenue Disaggregation of Revenue The disaggregation of revenue by region was as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Revenue by region: United States $ 81,065 $ 74,710 $ 227,569 $ 185,388 International 48,652 28,687 107,212 76,072 Total $ 129,717 $ 103,397 $ 334,781 $ 261,460 No countries outside of the United States comprised more than 10% of revenue during the three and nine months ended September 30, 2020. Revenue attributable to the United Kingdom comprised 12.3% and 10.5% of the total revenue for the three and nine months ended September 30, 2019, respectively. Our operations outside the United States include sales offices in Australia, Canada, the Czech Republic, France, Germany, Japan, Singapore, the United Arab Emirates, and the United Kingdom, and a research and development center in Ukraine and the Czech Republic. Revenue by location is determined by the billing address of the customer. Revenue related to our subscription-based software licenses is recognized at a point in time when the platform is first made available to the customer, or the beginning of the subscription term, if later. Revenue related to post-contract support, or PCS, service, and hosted services is recognized ratably over the subscription term, with the exception of professional services related to training services. Revenue related to professional services is recognized at a point in time as the services are performed and represents 5% or less of total revenue for all periods presented. Contract Assets and Contract Liabilities Timing may differ between the satisfaction of performance obligations and the invoicing and collection of amounts related to our contracts with customers. Contract assets primarily relate to unbilled amounts for contracts with customers for which the amount of revenue recognized exceeds the amount billed to the customer. Contract assets are transferred to accounts receivable when the right to invoice becomes unconditional. Contract liabilities, or deferred revenue, are recorded for amounts that are collected in advance of the satisfaction of performance obligations. These liabilities are classified as current and non-current deferred revenue. As of September 30, 2020, our contract assets are expected to be transferred to receivables within the next 12 to 24 months and, with respect to these contract assets, $36.7 million is included in prepaid expenses and other current assets and $58.3 million is included in other assets on our condensed consolidated balance sheet. As of December 31, 2019, we had contract assets of $18.5 million included in prepaid expenses and other current assets and $39.3 million included in other assets on our consolidated balance sheet. There were no impairments of contract assets during the three and nine months ended September 30, 2020. During the nine months ended September 30, 2020 and 2019, we recognized $76.0 million and $75.4 million, respectively, of revenue related to amounts that were included in deferred revenue as of December 31, 2019 and 2018, respectively. During the three months ended September 30, 2020 and 2019, we recognized $16.2 million and $17.4 million, respectively, of revenue related to amounts that were included in deferred revenue as of December 31, 2019 and 2018, respectively. Assets Recognized from the Costs to Obtain our Contracts with Customers We recognize an asset for the incremental costs of obtaining a contract with a customer if we expect the benefit of those costs to be longer than one year. This primarily consists of sales commissions and partner referral fees that are earned upon execution of the related contracts. We amortize these deferred commissions, which include partner referral fees, proportionate with related revenues over the benefit period. A summary of the activity impacting our deferred commissions during the nine months ended September 30, 2020 is presented below (in thousands): Balances at December 31, 2019 $ 43,035 Additional deferred commissions 26,821 Amortization of deferred commissions (25,470) Effects of foreign currency translation (97) Balances at September 30, 2020 $ 44,289 As of September 30, 2020, $21.1 million of our deferred commissions are expected to be amortized within the next 12 months and therefore are included in prepaid expenses and other current assets. The remaining amount of our deferred commissions is included in other assets. There were no impairments of assets related to deferred commissions during the nine months ended September 30, 2020. There were no assets recognized related to the costs to fulfill contracts during the nine months ended September 30, 2020 as these costs were not material. Remaining Performance Obligations Transaction price allocated to the remaining performance obligations represents contracted revenue that has not yet been recognized, which includes deferred revenue on our condensed consolidated balance sheets and unbilled amounts that will be recognized as revenue in future periods. As of September 30, 2020, we had an aggregate transaction price of $402.7 million allocated to unsatisfied performance obligations related primarily to PCS, cloud-based offerings, and subscriptions to third-party syndicated data. We expect to recognize $365.1 million as revenue over the next 24 months, with the remaining amount recognized thereafter.

Business Combinations

Business Combinations9 Months Ended
Sep. 30, 2020
Business Combinations [Abstract]
Business CombinationsBusiness Combinations On April 4, 2019, we acquired 100% of the outstanding equity of ClearStory Data Inc., a Delaware corporation, or ClearStory Data, pursuant to an Agreement and Plan of Merger, or the ClearStory Merger Agreement, dated as of March 28, 2019. The acquisition was made to augment our research and development team and acquire certain developed technology. The aggregate consideration payable in exchange for all of the outstanding equity interests of ClearStory Data was $19.6 million in cash, subject to customary adjustments set forth in the ClearStory Merger Agreement. The acquisition of ClearStory Data included $3.0 million of cash consideration held back for customary indemnification matters for a period of 18 months following the acquisition date, which is included in accrued expenses and other current liabilities on our condensed consolidated balance sheets as of September 30, 2020. In connection with the acquisition, we entered into employment agreements with certain employees from ClearStory Data, which include up to $6.0 million in aggregate cash payments based on the achievement of certain milestones over a period of 24 months. As the awards are subject to the continued employment of the employees, they were excluded from the purchase consideration, and will be recognized as post-acquisition compensation. The condensed consolidated financial statements include the results of operations of ClearStory Data commencing as of the acquisition date. The purchase consideration for the acquisition of $19.6 million consisted of $10.7 million in developed technology, $9.5 million of goodwill, which is tax deductible, and $0.6 million of net liabilities assumed. Goodwill represents the excess of the purchase price consideration over the fair value of the underlying intangible assets and net liabilities assumed. We believe the amount of goodwill resulting from the acquisition is primarily attributable to expected synergies from an assembled workforce, increased development capabilities, offerings to customers, and enhanced opportunities for growth and innovation. We determined the fair value of the developed technology acquired using the replacement cost method which uses estimated costs to recreate the technology. This model utilizes certain unobservable inputs classified as Level 3 measurements as defined by ASC 820, Fair Value Measurements and Disclosures . Key inputs utilized in the models include a discount rate of 20% and estimated costs to recreate the technology. Based on the valuation model, we determined the fair value of the developed technology to be $10.7 million with an amortization period of 4.0 years.

Fair Value Measurements

Fair Value Measurements9 Months Ended
Sep. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value MeasurementsFair Value Measurements Instruments Measured at Fair Value on a Recurring Basis. The following tables present our cash and cash equivalents’ and investments’ costs, gross unrealized gains (losses), and fair value by major security type recorded as cash and cash equivalents or short-term or long-term investments as of September 30, 2020 and December 31, 2019 (in thousands): As of September 30, 2020 Cost Net Fair Value Cash and Short-term Long-term Cash $ 49,548 $ — $ 49,548 $ 49,548 $ — $ — Level 1: Money market funds $ 31,433 $ — $ 31,433 $ 31,433 $ — $ — Subtotal $ 31,433 $ — $ 31,433 $ 31,433 $ — $ — Level 2: Commercial paper $ 116,849 $ 22 $ 116,871 $ 14,971 $ 101,900 $ — Certificates of deposit 2,800 — 2,800 — 2,800 — U.S. Treasury and agency bonds 592,734 1,723 594,457 — 393,501 200,956 Corporate bonds 186,738 641 187,379 — 129,058 58,321 Subtotal $ 899,121 $ 2,386 $ 901,507 $ 14,971 $ 627,259 $ 259,277 Level 3: $ — $ — $ — $ — $ — $ — Total $ 980,102 $ 2,386 $ 982,488 $ 95,952 $ 627,259 $ 259,277 As of December 31, 2019 Cost Net Fair Value Cash and Short-term Long-term Cash $ 53,039 $ — $ 53,039 $ 53,039 $ — $ — Level 1: Money market funds $ 223,580 $ — $ 223,580 $ 223,580 $ — $ — Subtotal $ 223,580 $ — $ 223,580 $ 223,580 $ — $ — Level 2: Commercial paper $ 217,140 $ (6) $ 217,134 $ 98,325 $ 118,809 $ — Certificates of deposit 1,000 — 1,000 — — 1,000 U.S. Treasury and agency bonds 294,953 199 295,152 35,005 161,767 98,380 Corporate bonds 184,516 444 184,960 — 96,419 88,541 Subtotal $ 697,609 $ 637 $ 698,246 $ 133,330 $ 376,995 $ 187,921 Level 3: $ — $ — $ — $ — $ — $ — Total $ 974,228 $ 637 $ 974,865 $ 409,949 $ 376,995 $ 187,921 All long-term investments had maturities of between one As of January 1, 2020, we did not have an allowance for credit losses related to our available-for-sale securities, which are comprised of fixed income securities, certificates of deposit, and money market funds. Our fixed income securities, which are predominantly high-grade corporate bonds, U.S. Treasury bonds, and U.S. Agency bonds, hold similar risk characteristics in that they are traded infrequently, with contractual interest rates and maturity dates. Our certificates of deposit have infrequent secondary market trades and are priced mathematically based on accretion or amortization from purchase date to maturity. Money market funds are actively traded and short-term, and, as a result, the risk for these securities is lower than the risk associated with fixed income securities and certificates of deposit. As a result of our adoption of ASC 326 effective January 1, 2020, we determined that the gross unrealized losses of $0.1 million as of January 1, 2020 were not related to credit losses and, as a result, were recorded in accumulated other comprehensive income (loss) in our condensed consolidated balance sheets. As of September 30, 2020, we had gross unrealized losses of less than $0.1 million with respect to our available-for-sale securities, and we do not intend to sell, nor is it more likely than not that we will be required to sell, these investments before recovery of their amortized cost basis. These gross unrealized losses were classified in accumulated other comprehensive income (loss) in our condensed consolidated balance sheets as of September 30, 2020. Instruments Not Recorded at Fair Value on a Recurring Basis. As of September 30, 2020, the fair value of our Notes (as defined in Note 8, Convertible Senior Notes

Allowance for Doubtful Accounts

Allowance for Doubtful Accounts and Sales Reserves9 Months Ended
Sep. 30, 2020
Credit Loss [Abstract]
Allowance for Doubtful Accounts and Sales ReservesAllowance for Doubtful Accounts and Sales Reserves The following table summarizes the changes in the allowances applied to accounts receivable and contract assets for the nine months ended September 30, 2020 (in thousands): Accounts Receivable Reserve Contract Asset Reserve Balance at December 31, 2019 $ 2,662 $ 205 Adoption of new accounting standard — 609 Provision 1,600 1,832 Recoveries (613) (32) Charge-offs (721) (67) Balance at September 30, 2020 $ 2,928 $ 2,547 During the nine months ended September 30, 2020, we analyzed the risk associated with each portfolio segment within our accounts receivables and contract assets balances. As a result of the economic uncertainties caused by the impact of the COVID-19 pandemic, we aggregated our portfolio into pools using different risk profiles. We increased our expected credit loss rates for customers in industries that we expect will be more adversely impacted by the economic downturn caused by the COVID-19 pandemic, resulting in an increase to our expected credit losses during the nine months ended September 30, 2020.

Goodwill and Intangible Assets

Goodwill and Intangible Assets9 Months Ended
Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible AssetsGoodwill and Intangible Assets The change in carrying amount of goodwill for the nine months ended September 30, 2020 was as follows (in thousands): Goodwill as of December 31, 2019 $ 36,910 Effects of foreign currency translation 20 Goodwill as of September 30, 2020 $ 36,930 Intangible assets consisted of the following (in thousands, except years): As of September 30, 2020 Weighted- Gross Carrying Accumulated Net Carrying Customer relationships 7.0 $ 1,526 $ (572) $ 954 Developed technology 5.7 21,715 (5,427) 16,288 $ 23,241 $ (5,999) $ 17,242 As of December 31, 2019 Weighted- Gross Carrying Accumulated Net Carrying Customer relationships 7.0 $ 1,503 $ (402) $ 1,101 Developed technology 5.4 27,821 (6,839) 20,982 $ 29,324 $ (7,241) $ 22,083 During the nine months ended September 30, 2020, we recorded an impairment charge of $2.0 million related to certain developed technology assets, due to our strategic decision to discontinue further investment and enhancements in the standalone existing technology. We classified intangible asset amortization expense in the accompanying condensed consolidated statements of operations and comprehensive income (loss) as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Cost of revenue $ 773 $ 1,128 $ 2,653 $ 2,670 Sales and marketing 56 53 156 168 Total $ 829 $ 1,181 $ 2,809 $ 2,838 The following table presents our estimates of remaining amortization expense for finite-lived intangible assets at September 30, 2020 (in thousands): Remainder of 2020 $ 1,158 2021 4,596 2022 4,596 2023 2,604 2024 1,928 Thereafter 2,360 Total amortization expense $ 17,242

Convertible Senior Notes

Convertible Senior Notes9 Months Ended
Sep. 30, 2020
Debt Disclosure [Abstract]
Convertible Senior NotesConvertible Senior Notes The following table presents details of our convertible senior notes, which are further discussed below (original principal in thousands): Month Issued Maturity Date Original Principal (including over-allotment) Coupon Interest Rate Effective Interest Rate Conversion Rate Initial Conversion Price 2023 Notes May and June 2018 June 1, 2023 $ 230,000 0.5 % 7.00 % $ 22.5572 $ 44.33 2024 Notes August 2019 August 1, 2024 $ 400,000 0.5 % 4.96 % $ 5.2809 $ 189.36 2026 Notes August 2019 August 1, 2026 $ 400,000 1.0 % 5.41 % $ 5.2809 $ 189.36 As further defined and described below, the 2024 Notes and the 2026 Notes are together referred to as the 2024 & 2026 Notes, and the 2023 Notes and the 2024 & 2026 Notes are collectively referred to as the Notes. In May and June 2018, we sold $230.0 million aggregate principal amount of our 0.50% Convertible Senior Notes due 2023, or the 2023 Notes, including the initial purchasers’ exercise in full of their option to purchase an additional $30.0 million of the 2023 Notes, in a private offering to qualified institutional buyers pursuant to Rule 144A promulgated under the Securities Act of 1933, as amended, or the Act. The 2023 Notes are our senior, unsecured obligations, and interest is payable semi-annually in arrears on June 1 and December 1 of each year beginning December 1, 2018. In August 2019, we sold $400.0 million aggregate principal amount of our 0.50% Convertible Senior Notes due 2024, or the 2024 Notes, and $400.0 million aggregate principal amount of our 1.00% Convertible Senior Notes due 2026, or the 2026 Notes, including the initial purchasers’ exercise in full of their options to purchase an additional $50.0 million of the 2024 Notes and an additional $50.0 million of the 2026 Notes, in a private offering to qualified institutional buyers pursuant to Rule 144A promulgated under the Act. The 2024 & 2026 Notes are our senior, unsecured obligations, and interest is payable semi-annually in arrears on February 1 and August 1 of each year beginning February 1, 2020. Prior to the close of business on the business day immediately preceding March 1, 2023, or the 2023 Conversion Date, in the case of the 2023 Notes, or May 1, 2024, or the 2024 Conversion Date, in the case of the 2024 Notes, or May 1, 2026, or the 2026 Conversion Date, in the case of the 2026 Notes, the respective Notes are convertible at the option of holders only upon satisfaction of certain conditions and during certain periods, and thereafter, at any time until the close of business on the second scheduled trading day immediately preceding the relevant maturity date. The applicable conversion rate is subject to customary adjustments for certain events as described in the applicable indenture between us and U.S. Bank National Association, as trustee, or, collectively, the Indentures. Upon conversion, the Notes may be settled in shares of our Class A common stock, cash or a combination of cash and shares of our Class A common stock, at our election. It is our current intent to settle the principal amount of the Notes with cash. During the year ended December 31, 2019, a portion of the 2023 Notes were exchanged, as further discussed below. Prior to the close of business on the business day immediately preceding the applicable Conversion Date, the applicable series of Notes is convertible at the option of the holders under the following circumstances: • during any calendar quarter commencing after the calendar quarter subsequent to the calendar quarter in which the applicable series of Notes was issued (and only during such calendar quarter), if the last reported sale price of our Class A common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the applicable conversion price of the applicable series of Notes on each applicable trading day; • during the five business day period after any five consecutive trading day period in which the trading price per $1,000 principal amount of the applicable series of Notes for each day of that five day consecutive trading day period was less than 98% of the product of the last reported sale price of our Class A common stock and the applicable conversion rate of the applicable series of Notes on such applicable trading day; or • upon the occurrence of specified corporate events described in the applicable Indenture. For at least 20 trading days during the period of 30 consecutive trading days ending September 30, 2020, the last reported sale price of our Class A common stock was greater than or equal to 130% of the conversion price of the 2023 Notes on each applicable trading day. As a result, the 2023 Notes are convertible at the option of the holders during the quarter ending December 31, 2020 and were classified as current liabilities on the condensed consolidated balance sheet as of September 30, 2020. As of September 30, 2020, the if-converted value of the 2023 Notes exceeded its principal amount by $132.3 million. As of September 30, 2020, the 2024 & 2026 Notes were not currently convertible. We may not redeem any series of Notes prior to the relevant maturity date. Holders of any series of Notes have the right to require us to repurchase for cash all or a portion of their applicable series of Notes, at 100% of its respective principal amount, plus any accrued and unpaid interest, upon the occurrence of a fundamental change as defined in the applicable Indenture for such series of Notes. We are also required to increase the conversion rate for holders who convert their Notes in connection with certain corporate events occurring prior to the relevant maturity date. The Notes are our senior unsecured obligations and rank senior in right of payment to any of our indebtedness and other liabilities that are expressly subordinated in right of payment to the Notes, equal in right of payment among all series of Notes and to any other existing and future indebtedness and other liabilities that are not subordinated, effectively junior in right of payment to any of our secured indebtedness and other liabilities to the extent of the value of the assets securing such indebtedness and other liabilities, and structurally junior in right of payment to all of our existing and future indebtedness and other liabilities (including trade payables) of our current or future subsidiaries. Capped Call Transactions In connection with the pricing of the 2023 Notes, we entered into privately negotiated capped call transactions with an affiliate of one of the initial purchasers of the 2023 Notes and other financial institutions. In connection with the pricing of the 2024 & 2026 Notes, we entered into privately negotiated capped call transactions with other financial institutions. The capped call transactions are expected generally to reduce or offset potential dilution to holders of our common stock and/or offset the potential cash payments that we could be required to make in excess of the principal amount upon any conversion of the applicable series of Notes under certain circumstances, with such reduction and/or offset subject to a cap based on the cap price. Under the capped call transactions, we purchased capped call options that in the aggregate relate to the total number of shares of our Class A common stock underlying the applicable series of Notes, with an initial strike price of approximately $44.33 per share in the case of the 2023 Notes, which corresponds to the initial conversion price of the 2023 Notes, and approximately $189.36 per share in the case of the 2024 & 2026 Notes, which corresponds to the initial conversion price of each of the 2024 & 2026 Notes. Further, the capped call options are subject to anti-dilution adjustments substantially similar to those applicable to the conversion rate of the applicable series of Notes, and have a cap price of $62.22 per share in the case of the 2023 Notes, and $315.60 per share in the case of the 2024 & 2026 Notes. The cost of the purchased capped calls of $19.1 million in the case of the 2023 Notes and $87.4 million in the case of the 2024 & 2026 Notes was recorded as a reduction to additional paid-in-capital. We elected to integrate the applicable capped call options with the applicable series of Notes for federal income tax purposes pursuant to applicable U.S. Treasury Regulations. Accordingly, the $19.1 million gross cost of the purchased capped calls in the case of the 2023 Notes and the $87.4 million gross cost of the purchased capped calls in the case of the 2024 & 2026 Notes will be deductible for income tax purposes as original discount interest over the term of the 2023 Notes and the applicable series of the 2024 & 2026 Notes, respectively. We recorded deferred tax assets of $4.6 million with respect to the 2023 Notes and $20.9 million with respect to the 2024 & 2026 Notes, which represent the tax benefit of these deductions with an offsetting entry to additional paid-in capital. In connection with the exchange agreements discussed below, we terminated a corresponding portion of the existing capped call transactions that we entered into in connection with the issuance of the 2023 Notes, which resulted in the net share settlement and our receipt and retirement of 285,466 shares of Class A common stock. Exchange and Conversion of 2023 Notes In connection with the issuance of the 2024 & 2026 Notes discussed above, during the year ended December 31, 2019, we entered into exchange agreements with certain holders of our outstanding 2023 Notes and, using a portion of the net proceeds from the issuance of the 2024 & 2026 Notes, we exchanged $145.2 million principal amount, together with accrued and unpaid interest thereon, of the 2023 Notes for aggregate consideration of $145.4 million in cash, representing the principal and accrued interest of the exchanged 2023 Notes, and 2.2 million shares of Class A common stock. In the nine months ended September 30, 2020, we settled $11.0 thousand principal amount of the 2023 Notes upon requests for conversion, which were settled in a combination of cash and shares of our Class A common stock. As of the date of this filing, we have received no additional requests for conversion. The Notes consisted of the following (in thousands): As of September 30, 2020 As of December 31, 2019 2023 Notes 2024 Notes 2026 Notes 2023 Notes 2024 Notes 2026 Notes Liability: Principal $ 84,748 $ 400,000 $ 400,000 $ 84,759 $ 400,000 $ 400,000 Less: debt discount and issuance costs, net of amortization (13,281) (61,857) (87,592) (16,605) (72,669) (97,010) Net carrying amount $ 71,467 $ 338,143 $ 312,408 $ 68,154 $ 327,331 $ 302,990 Equity, net of issuance costs $ 46,473 $ 69,749 $ 93,380 $ 46,474 $ 69,749 $ 93,380 The following table sets forth interest expense recognized related to the Notes (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Contractual interest expense $ 1,606 $ 1,005 $ 4,818 $ 1,580 Amortization of debt issuance costs and discount 7,992 5,436 23,552 10,949 Total $ 9,598 $ 6,441 $ 28,370 $ 12,529

Equity Awards

Equity Awards9 Months Ended
Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Equity AwardsEquity Awards Stock Options Stock option activity during the nine months ended September 30, 2020 consisted of the following (in thousands, except weighted-average information): Options Weighted- Options outstanding at December 31, 2019 2,712 $ 22.58 Granted 227 145.43 Exercised (956) 14.19 Canceled/forfeited (190) 39.29 Options outstanding at September 30, 2020 1,793 $ 40.81 As of September 30, 2020, there was $18.8 million of unrecognized compensation cost related to unvested stock options, which is expected to be recognized over a weighted-average period of 2.0 years. Valuation Assumptions The following table presents the weighted-average assumptions used for stock options granted under our 2017 Equity Incentive Plan for each of the periods indicated: Nine Months Ended September 30, 2020 2019 Expected term (in years) 5.8 5.8 Estimated volatility 44 % 38 % Risk-free interest rate 1 % 2 % Estimated dividend yield — % — % Weighted average fair value $ 61.64 $ 29.24 Restricted Stock Units Restricted stock unit, or RSU, activity during the nine months ended September 30, 2020 consisted of the following (in thousands, except weighted-average information): Awards Weighted- RSUs outstanding at December 31, 2019 1,576 $ 64.46 Granted 1,074 134.96 Vested (392) 58.90 Canceled/forfeited (233) 76.80 RSUs outstanding at September 30, 2020 2,025 $ 101.49 As of September 30, 2020, total unrecognized compensation expense related to unvested RSUs was approximately $166.5 million, which is expected to be recognized over a weighted-average period of 2.4 years. We classified stock-based compensation expense in the accompanying condensed consolidated statements of operations and comprehensive income (loss) as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Cost of revenue $ 714 $ 431 $ 1,747 $ 1,148 Research and development 5,796 1,659 12,415 4,014 Sales and marketing 7,674 3,471 20,433 8,822 General and administrative 6,513 3,275 16,689 8,211 Total $ 20,697 $ 8,836 $ 51,284 $ 22,195

Leases

Leases9 Months Ended
Sep. 30, 2020
Leases [Abstract]
LeasesLeasesWe have various non-cancelable operating leases for our corporate offices in California, Colorado, Illinois, Massachusetts, Michigan, New York and Texas in the United States and Australia, Brazil, Canada, the Czech Republic, France, Germany, Japan, Singapore, Ukraine, the United Arab Emirates, and the United Kingdom. These leases expire at various times through 2029. Certain lease agreements contain renewal options, rent abatement, and escalation clauses that are factored into our determination of lease payments when appropriate. Lease Costs The following lease costs were included in our condensed consolidated statements of operations and comprehensive income (loss) as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Operating lease cost $ 2,657 $ 1,943 $ 7,501 $ 4,961 Short-term lease cost 253 339 1,260 1,053 Variable lease cost 1,084 511 2,710 1,294 Total lease cost $ 3,994 $ 2,793 $ 11,471 $ 7,308 Undiscounted Cash Flows The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years to the operating lease liabilities recorded on the condensed consolidated balance sheet as of September 30, 2020 (in thousands): Remainder of 2020 $ 3,344 2021 12,965 2022 12,300 2023 10,546 2024 9,723 2025 8,948 Thereafter 10,175 Total minimum lease payments 68,001 Less imputed interest (9,634) Present value of future minimum lease payments 58,367 Less current obligations under leases (1) (10,341) Long-term lease obligations $ 48,026 (1) Included in accrued expenses and other current liabilities in our condensed consolidated balance sheets. In addition to the leases included on our condensed consolidated balance sheet as of September 30, 2020, we have five leases that have been executed but not yet commenced as of September 30, 2020 with lease terms that range from two

Contingencies

Contingencies9 Months Ended
Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
ContingenciesContingencies Indemnification In the ordinary course of business, we enter into agreements in which we may agree to indemnify other parties with respect to certain matters, including losses resulting from claims of intellectual property infringement, damages to property or persons, business losses, or other liabilities. In addition, we have entered into indemnification agreements with our directors, executive officers, and certain other employees that will require us to indemnify them against liabilities that may arise by reason of their status or service as directors, officers, or employees. The term of these indemnification agreements with our directors, executive officers, and other employees are generally perpetual after execution of the agreement. The maximum potential amount of future payments we could be required to make under these indemnification provisions is unlimited; however, we maintain insurance that reduces our exposure and enables us to recover a portion of any future amounts paid. As of September 30, 2020 and December 31, 2019, we have not accrued a liability for indemnification provisions we agree to in the ordinary course of business or with our directors, executive officers and certain other employees pursuant to indemnification agreements because the likelihood of incurring a payment obligation, if any, in connection with these arrangements is not probable or reasonably estimable. Litigation From time to time, we may be involved in lawsuits, claims, investigations, and proceedings, consisting of intellectual property, commercial, employment, and other matters, which arise in the ordinary course of business. Other than the matters described below, we are not currently party to any material legal proceedings or claims, nor are we aware of any pending or threatened legal proceedings or claims that could have a material adverse effect on our business, operating results, cash flows, or financial condition should such legal proceedings or claims be resolved unfavorably. As of the date of this filing, three putative securities class action lawsuits have been filed against us and certain of our executive officers in U.S. federal court relating to alleged violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended, or the Exchange Act, and Rule 10b-5 promulgated thereunder: (1) Smith v. Alteryx, Inc. , Case No. 8:20-cv-01540 (CD Cal.), filed on August 19, 2020; (2) Chau v. Alteryx, Inc. , Case No. 8:20-cv-01886 (CD Cal.), filed on September 30, 2020; and (3) Lalgudi v. Alteryx, Inc. , Case No. 8:20-cv-01910 (CD Cal.), filed on October 2, 2020. Each of these cases asserts claims on behalf of persons and entities that purchased or otherwise acquired our securities between May 6, 2020 and August 6 or 7, 2020, inclusive, and that such persons and entities were harmed as a result of alleged false or misleading statements, or alleged material omissions. These proceedings all remain in the early stages. We intend to vigorously defend against these claims. Because of the early stages of these matters, we are unable to estimate a reasonably possible range of loss, if any, that may result from these matters.

Income Taxes

Income Taxes9 Months Ended
Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income TaxesIncome Taxes The following table presents details of the provision for (benefit of) income taxes and our effective tax rates (in thousands, except percentages): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Provision for (benefit of) income taxes $ 809 $ (8,663) $ (3,055) $ (26,456) Effective tax rate (15.7) % (58.1) % (6.2) % (88.2) % We account for income taxes according to ASC 740, which, among other things, requires that we estimate our annual effective income tax rate for the full year and apply it to pre-tax income (loss) for each interim period, taking into account year-to-date amounts and projected results for the full year. We periodically evaluate whether we will recover a portion or all of our deferred tax assets. We record a valuation allowance against our deferred tax assets if and to the extent it is more likely than not that we will not recover our deferred tax assets. In evaluating the need for a valuation allowance, we weight all relevant positive and negative evidence, including among other factors, historical financial performance, forecasts of income over the applicable carryforward periods, and our market environment, with each piece weighted based on its reliability. As of September 30, 2020, we had insufficient objective positive evidence that we will generate sufficient future pre-tax income to overcome the negative evidence of cumulative losses. Accordingly, we continue to record a full valuation allowance against our U.S. deferred tax assets as of September 30, 2020. We continue to record a full valuation allowance against our U.K. deferred tax assets as of September 30, 2020. We had a deferred tax liability of $5.6 million as of December 31, 2019, included in other liabilities in our condensed consolidated balance sheets. We account for the tax effects of discrete events in the interim period they occur. The provision for income taxes consists of federal, foreign, state, and local income taxes. Our effective tax rate differs from the statutory U.S. income tax rate due to the effect of state and local income taxes, differing tax rates imposed on income earned in foreign jurisdictions and in the United States, losses in foreign jurisdictions, certain nondeductible expenses, excess tax deductions, and the changes in valuation allowances against our deferred tax assets. Our effective tax rate could change significantly from quarter to quarter because of recurring and nonrecurring factors. The benefit of income taxes for the nine months ended September 30, 2019 was primarily attributable to discrete tax benefits related to excess tax deductions from settled stock options and RSUs. This was offset by the impact of establishing a valuation allowance against our U.S. deferred tax assets. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, or the CARES Act, was signed into law. The CARES Act includes tax provisions applicable to businesses, such as net operating losses, enhanced interest deductibility, optional deferral of deposits of payroll taxes and a refundable employee retention payroll tax credit. We have determined that these provisions did not have an impact on our condensed consolidated financial statements for the nine months ended September 30, 2020. Neither we nor any of our subsidiaries are currently under examination from tax authorities in the jurisdictions in which we do business.

Basic and Diluted Net Income (L

Basic and Diluted Net Income (Loss) Per Share9 Months Ended
Sep. 30, 2020
Earnings Per Share [Abstract]
Basic and Diluted Net Income (Loss) Per ShareBasic and Diluted Net Income (Loss) Per Share The following table presents the computation of net income (loss) per share (in thousands, except per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Numerator: Net income (loss) attributable to common stockholders $ 4,357 $ (6,240) $ (46,409) $ (3,545) Denominator: Weighted-average shares used to compute net income (loss) per share 66,265 63,966 65,895 62,842 Effect of dilutive securities: Convertible senior notes 1,289 — — — Employee stock awards 2,220 — — — Weighted-average shares used to compute net income (loss) per share 69,774 63,966 65,895 62,842 Net income (loss) per share attributable to common stockholders, $ 0.07 $ (0.10) $ (0.70) $ (0.06) Net income (loss) per share attributable to common stockholders, $ 0.06 $ (0.10) $ (0.70) $ (0.06) The following weighted-average equivalent shares of common stock, excluding the impact of the treasury stock method, were excluded from the diluted net income (loss) per share calculation because their inclusion would have been anti-dilutive (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Stock awards 313 4,483 4,043 4,744 Convertible senior notes 4,225 5,715 6,137 5,366 Total shares excluded from net income (loss) per share 4,538 10,198 10,180 10,110

Subsequent Event

Subsequent Event9 Months Ended
Sep. 30, 2020
Subsequent Events [Abstract]
Subsequent EventSubsequent EventsOn October 2, 2020, Dean A. Stoecker, our founder, Chief Executive Officer and Chairman of our Board of Directors resigned from his role as Chief Executive Officer, effective October 5, 2020. In connection with this transition, Mr. Stoecker will remain as the Chairman of the Board of Directors and was appointed by the Board of Directors as our Executive Chairman. On October 2, 2020, our Board of Directors appointed Mark Anderson to become our Chief Executive Officer, effective October 5, 2020. Mr. Anderson will remain as a member of the Board of Directors and resigned as a member of the Compensation Committee of our Board of Directors. No modifications were made to Mr. Stoecker’s unvested stock awards as of the time of his resignation. We are currently evaluating whether the substantive service period has been modified, which could impact the amount and period of recognition of the unvested stock awards.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)9 Months Ended
Sep. 30, 2020
Accounting Policies [Abstract]
Basis of PresentationBasis of Presentation Our unaudited interim condensed consolidated financial statements are presented in accordance with accounting standards generally accepted in the United States of America, or U.S. GAAP, for interim financial information. Certain information and disclosures normally included in consolidated financial statements presented in accordance with U.S. GAAP have been condensed or omitted. Accordingly, these unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the related notes included in our Annual Report on Form 10-K for the year ended December 31, 2019 filed with the Securities and Exchange Commission, or SEC, on February 14, 2020. The unaudited interim condensed consolidated financial statements have been prepared on a basis consistent with that used to prepare the audited annual consolidated financial statements and reflect all adjustments which are, in the opinion of our management, of a normal recurring nature and necessary for a fair statement of the condensed consolidated financial statements. All intercompany accounts and transactions have been eliminated in consolidation. The operating results for the three and nine months ended September 30, 2020 are not necessarily indicative of the results expected for the full year ending December 31, 2020.
Use of EstimatesUse of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from these estimates and assumptions. On an ongoing basis, our management evaluates these estimates and assumptions, including those related to determination of standalone selling prices of our products and services, allowance for doubtful account and sales reserves, income tax valuations, stock-based compensation, goodwill, and intangible assets valuations and recoverability. We base our estimates on historical data and experience, as well as various other factors that our management believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities.
Operating SegmentsOperating Segments Operating segments are defined as components of an enterprise for which separate financial information is evaluated regularly by the Chief Operating Decision Maker, or CODM, who is our chief executive officer, in deciding how to allocate resources and assess our financial and operational performance. Our CODM evaluates our financial information and resources and assesses the performance of these resources on a consolidated and aggregated basis. As a result, we have determined that our business operates in a single operating segment.
Recently Adopted and Recently Issued Accounting PronouncementsRecently Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU, 2016-13 Financial Instruments - Credit Losses , or ASC 326. The new standard amends the impairment model to utilize an expected loss methodology in place of the currently used incurred loss methodology. As a result, we are now required to use a forward-looking expected credit loss model for accounts receivables and other commitments to extend credit. Through December 31, 2019, we calculated our allowance for credit losses using a single pool of trade receivables as the basis for our credit loss rate. Effective January 1, 2020, we adopted ASC 326 and made changes to our accounting policies related to credit loss calculations, including the consideration of forecasted economic data and the pooling of financial assets with similar risk profiles, and now recognize credit losses associated with our available-for-sale securities. We adopted the new allowance for credit losses accounting standard on January 1, 2020 by means of a cumulative-effect adjustment, where we recognized the cumulative effect of initially applying the guidance as a $0.6 million addition to our contract asset reserve with an offsetting adjustment to retained earnings. See Note 5, Fair Value Measurements and Note 6, Allowance for Doubtful Accounts and Sales Reserves , for additional details. In August 2018, the FASB issued ASU 2018-15, Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract , which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing costs incurred to develop or obtain internal-use software. We adopted this standard prospectively effective January 1, 2020. As a result of the adoption, we are required to capitalize additional costs related to the implementation of cloud computing arrangements that we have historically expensed as incurred, particularly costs incurred during the application development phase. This policy aligns the accounting for implementation costs associated with cloud computing arrangements with our existing policy related to internal-use software. Capitalized costs related to cloud computing arrangements for the nine months ended September 30, 2020, which are included in prepaid expenses and other current assets on our condensed consolidated balance sheets, were not material. Recently Issued Accounting Pronouncements In August 2020, the FASB issued ASU 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity , or ASU 2020-06, which simplifies the accounting for convertible instruments by removing certain separation models required under current U.S. GAAP, including the beneficial conversion feature and cash conversion models. ASU 2020-06 removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception and it also simplifies the diluted earnings per share calculation in certain areas. This guidance will be effective for us for annual reporting periods beginning after December 15, 2021 and for interim periods within those annual periods, and can be applied utilizing either a modified or full retrospective transition method. Early adoption is permitted. We currently account for our Notes, as described in Note 8, Convertible Senior Notes , utilizing the cash conversion model. We have not yet adopted this standard and are currently evaluating the impact and timing of adopting this guidance and we currently expect that the adoption will have a material impact on our condensed consolidated financial statements and related disclosures.
Income TaxesWe account for income taxes according to ASC 740, which, among other things, requires that we estimate our annual effective income tax rate for the full year and apply it to pre-tax income (loss) for each interim period, taking into account year-to-date amounts and projected results for the full year. We periodically evaluate whether we will recover a portion or all of our deferred tax assets. We record a valuation allowance against our deferred tax assets if and to the extent it is more likely than not that we will not recover our deferred tax assets. In evaluating the need for a valuation allowance, we weight all relevant positive and negative evidence, including among other factors, historical financial performance, forecasts of income over the applicable carryforward periods, and our market environment, with each piece weighted based on its reliability. As of September 30, 2020, we had insufficient objective positive evidence that we will generate sufficient future pre-tax income to overcome the negative evidence of cumulative losses. Accordingly, we continue to record a full valuation allowance against our U.S. deferred tax assets as of September 30, 2020. We continue to record a full valuation allowance against our U.K. deferred tax assets as of September 30, 2020.

Revenue (Tables)

Revenue (Tables)9 Months Ended
Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Disaggregation of RevenueThe disaggregation of revenue by region was as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Revenue by region: United States $ 81,065 $ 74,710 $ 227,569 $ 185,388 International 48,652 28,687 107,212 76,072 Total $ 129,717 $ 103,397 $ 334,781 $ 261,460
Deferred Contract CostsA summary of the activity impacting our deferred commissions during the nine months ended September 30, 2020 is presented below (in thousands): Balances at December 31, 2019 $ 43,035 Additional deferred commissions 26,821 Amortization of deferred commissions (25,470) Effects of foreign currency translation (97) Balances at September 30, 2020 $ 44,289

Fair Value Measurements (Tables

Fair Value Measurements (Tables)9 Months Ended
Sep. 30, 2020
Fair Value Disclosures [Abstract]
Summary of Cash and Cash Equivalents and Investments' Costs, Gross Unrealized Gains (Losses), and Fair Value by Major Security Type Recorded as Cash and Cash Equivalents or Short-Term or Long-Term InvestmentsThe following tables present our cash and cash equivalents’ and investments’ costs, gross unrealized gains (losses), and fair value by major security type recorded as cash and cash equivalents or short-term or long-term investments as of September 30, 2020 and December 31, 2019 (in thousands): As of September 30, 2020 Cost Net Fair Value Cash and Short-term Long-term Cash $ 49,548 $ — $ 49,548 $ 49,548 $ — $ — Level 1: Money market funds $ 31,433 $ — $ 31,433 $ 31,433 $ — $ — Subtotal $ 31,433 $ — $ 31,433 $ 31,433 $ — $ — Level 2: Commercial paper $ 116,849 $ 22 $ 116,871 $ 14,971 $ 101,900 $ — Certificates of deposit 2,800 — 2,800 — 2,800 — U.S. Treasury and agency bonds 592,734 1,723 594,457 — 393,501 200,956 Corporate bonds 186,738 641 187,379 — 129,058 58,321 Subtotal $ 899,121 $ 2,386 $ 901,507 $ 14,971 $ 627,259 $ 259,277 Level 3: $ — $ — $ — $ — $ — $ — Total $ 980,102 $ 2,386 $ 982,488 $ 95,952 $ 627,259 $ 259,277 As of December 31, 2019 Cost Net Fair Value Cash and Short-term Long-term Cash $ 53,039 $ — $ 53,039 $ 53,039 $ — $ — Level 1: Money market funds $ 223,580 $ — $ 223,580 $ 223,580 $ — $ — Subtotal $ 223,580 $ — $ 223,580 $ 223,580 $ — $ — Level 2: Commercial paper $ 217,140 $ (6) $ 217,134 $ 98,325 $ 118,809 $ — Certificates of deposit 1,000 — 1,000 — — 1,000 U.S. Treasury and agency bonds 294,953 199 295,152 35,005 161,767 98,380 Corporate bonds 184,516 444 184,960 — 96,419 88,541 Subtotal $ 697,609 $ 637 $ 698,246 $ 133,330 $ 376,995 $ 187,921 Level 3: $ — $ — $ — $ — $ — $ — Total $ 974,228 $ 637 $ 974,865 $ 409,949 $ 376,995 $ 187,921

Allowance for Doubtful Accoun_2

Allowance for Doubtful Accounts and Sales Reserves (Tables)9 Months Ended
Sep. 30, 2020
Credit Loss [Abstract]
Accounts Receivable and Contract with Customer, Asset, Allowance for Credit LossThe following table summarizes the changes in the allowances applied to accounts receivable and contract assets for the nine months ended September 30, 2020 (in thousands): Accounts Receivable Reserve Contract Asset Reserve Balance at December 31, 2019 $ 2,662 $ 205 Adoption of new accounting standard — 609 Provision 1,600 1,832 Recoveries (613) (32) Charge-offs (721) (67) Balance at September 30, 2020 $ 2,928 $ 2,547

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)9 Months Ended
Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Change in Carrying Amount of GoodwillThe change in carrying amount of goodwill for the nine months ended September 30, 2020 was as follows (in thousands): Goodwill as of December 31, 2019 $ 36,910 Effects of foreign currency translation 20 Goodwill as of September 30, 2020 $ 36,930
Schedule of Intangible AssetsIntangible assets consisted of the following (in thousands, except years): As of September 30, 2020 Weighted- Gross Carrying Accumulated Net Carrying Customer relationships 7.0 $ 1,526 $ (572) $ 954 Developed technology 5.7 21,715 (5,427) 16,288 $ 23,241 $ (5,999) $ 17,242 As of December 31, 2019 Weighted- Gross Carrying Accumulated Net Carrying Customer relationships 7.0 $ 1,503 $ (402) $ 1,101 Developed technology 5.4 27,821 (6,839) 20,982 $ 29,324 $ (7,241) $ 22,083
Schedule of Intangible Asset Amortization ExpenseWe classified intangible asset amortization expense in the accompanying condensed consolidated statements of operations and comprehensive income (loss) as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Cost of revenue $ 773 $ 1,128 $ 2,653 $ 2,670 Sales and marketing 56 53 156 168 Total $ 829 $ 1,181 $ 2,809 $ 2,838
Schedule of Finite-Lived Intangible Assets Estimated Remaining Amortization ExpenseThe following table presents our estimates of remaining amortization expense for finite-lived intangible assets at September 30, 2020 (in thousands): Remainder of 2020 $ 1,158 2021 4,596 2022 4,596 2023 2,604 2024 1,928 Thereafter 2,360 Total amortization expense $ 17,242

Convertible Senior Notes (Table

Convertible Senior Notes (Tables)9 Months Ended
Sep. 30, 2020
Debt Disclosure [Abstract]
Summary of Convertible DebtThe following table presents details of our convertible senior notes, which are further discussed below (original principal in thousands): Month Issued Maturity Date Original Principal (including over-allotment) Coupon Interest Rate Effective Interest Rate Conversion Rate Initial Conversion Price 2023 Notes May and June 2018 June 1, 2023 $ 230,000 0.5 % 7.00 % $ 22.5572 $ 44.33 2024 Notes August 2019 August 1, 2024 $ 400,000 0.5 % 4.96 % $ 5.2809 $ 189.36 2026 Notes August 2019 August 1, 2026 $ 400,000 1.0 % 5.41 % $ 5.2809 $ 189.36 The Notes consisted of the following (in thousands): As of September 30, 2020 As of December 31, 2019 2023 Notes 2024 Notes 2026 Notes 2023 Notes 2024 Notes 2026 Notes Liability: Principal $ 84,748 $ 400,000 $ 400,000 $ 84,759 $ 400,000 $ 400,000 Less: debt discount and issuance costs, net of amortization (13,281) (61,857) (87,592) (16,605) (72,669) (97,010) Net carrying amount $ 71,467 $ 338,143 $ 312,408 $ 68,154 $ 327,331 $ 302,990 Equity, net of issuance costs $ 46,473 $ 69,749 $ 93,380 $ 46,474 $ 69,749 $ 93,380
Summary of Interest ExpenseThe following table sets forth interest expense recognized related to the Notes (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Contractual interest expense $ 1,606 $ 1,005 $ 4,818 $ 1,580 Amortization of debt issuance costs and discount 7,992 5,436 23,552 10,949 Total $ 9,598 $ 6,441 $ 28,370 $ 12,529

Equity Awards (Tables)

Equity Awards (Tables)9 Months Ended
Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Schedule of Stock Option ActivityStock option activity during the nine months ended September 30, 2020 consisted of the following (in thousands, except weighted-average information): Options Weighted- Options outstanding at December 31, 2019 2,712 $ 22.58 Granted 227 145.43 Exercised (956) 14.19 Canceled/forfeited (190) 39.29 Options outstanding at September 30, 2020 1,793 $ 40.81
Schedule of Share-based Payment Award, Stock Options, Valuation AssumptionsThe following table presents the weighted-average assumptions used for stock options granted under our 2017 Equity Incentive Plan for each of the periods indicated: Nine Months Ended September 30, 2020 2019 Expected term (in years) 5.8 5.8 Estimated volatility 44 % 38 % Risk-free interest rate 1 % 2 % Estimated dividend yield — % — % Weighted average fair value $ 61.64 $ 29.24
Schedule of RSU ActivityRestricted stock unit, or RSU, activity during the nine months ended September 30, 2020 consisted of the following (in thousands, except weighted-average information): Awards Weighted- RSUs outstanding at December 31, 2019 1,576 $ 64.46 Granted 1,074 134.96 Vested (392) 58.90 Canceled/forfeited (233) 76.80 RSUs outstanding at September 30, 2020 2,025 $ 101.49
Schedule of Stock-based Compensation ExpenseWe classified stock-based compensation expense in the accompanying condensed consolidated statements of operations and comprehensive income (loss) as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Cost of revenue $ 714 $ 431 $ 1,747 $ 1,148 Research and development 5,796 1,659 12,415 4,014 Sales and marketing 7,674 3,471 20,433 8,822 General and administrative 6,513 3,275 16,689 8,211 Total $ 20,697 $ 8,836 $ 51,284 $ 22,195

Leases (Tables)

Leases (Tables)9 Months Ended
Sep. 30, 2020
Leases [Abstract]
Lease CostsThe following lease costs were included in our condensed consolidated statements of operations and comprehensive income (loss) as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Operating lease cost $ 2,657 $ 1,943 $ 7,501 $ 4,961 Short-term lease cost 253 339 1,260 1,053 Variable lease cost 1,084 511 2,710 1,294 Total lease cost $ 3,994 $ 2,793 $ 11,471 $ 7,308
Undiscounted Cash Flows for Operating Lease LiabilitiesThe table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years to the operating lease liabilities recorded on the condensed consolidated balance sheet as of September 30, 2020 (in thousands): Remainder of 2020 $ 3,344 2021 12,965 2022 12,300 2023 10,546 2024 9,723 2025 8,948 Thereafter 10,175 Total minimum lease payments 68,001 Less imputed interest (9,634) Present value of future minimum lease payments 58,367 Less current obligations under leases (1) (10,341) Long-term lease obligations $ 48,026

Income Taxes (Tables)

Income Taxes (Tables)9 Months Ended
Sep. 30, 2020
Income Tax Disclosure [Abstract]
Schedule of Provision for Income Taxes and Effective Tax RatesThe following table presents details of the provision for (benefit of) income taxes and our effective tax rates (in thousands, except percentages): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Provision for (benefit of) income taxes $ 809 $ (8,663) $ (3,055) $ (26,456) Effective tax rate (15.7) % (58.1) % (6.2) % (88.2) %

Basic and Diluted Net Income _2

Basic and Diluted Net Income (Loss) Per Share (Tables)9 Months Ended
Sep. 30, 2020
Earnings Per Share [Abstract]
Schedule of Net Income Per ShareThe following table presents the computation of net income (loss) per share (in thousands, except per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Numerator: Net income (loss) attributable to common stockholders $ 4,357 $ (6,240) $ (46,409) $ (3,545) Denominator: Weighted-average shares used to compute net income (loss) per share 66,265 63,966 65,895 62,842 Effect of dilutive securities: Convertible senior notes 1,289 — — — Employee stock awards 2,220 — — — Weighted-average shares used to compute net income (loss) per share 69,774 63,966 65,895 62,842 Net income (loss) per share attributable to common stockholders, $ 0.07 $ (0.10) $ (0.70) $ (0.06) Net income (loss) per share attributable to common stockholders, $ 0.06 $ (0.10) $ (0.70) $ (0.06)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per ShareThe following weighted-average equivalent shares of common stock, excluding the impact of the treasury stock method, were excluded from the diluted net income (loss) per share calculation because their inclusion would have been anti-dilutive (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Stock awards 313 4,483 4,043 4,744 Convertible senior notes 4,225 5,715 6,137 5,366 Total shares excluded from net income (loss) per share 4,538 10,198 10,180 10,110

Significant Accounting Polici_3

Significant Accounting Policies (Detail) $ in Thousands9 Months Ended12 Months Ended
Sep. 30, 2020USD ($)SegmentDec. 31, 2019USD ($)Jun. 30, 2020USD ($)Mar. 31, 2020USD ($)Jan. 01, 2020USD ($)Sep. 30, 2019USD ($)Jun. 30, 2019USD ($)Mar. 31, 2019USD ($)Dec. 31, 2018USD ($)
Accounting Policies [Abstract]
Number of operating segments | Segment1
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Decrease to retained earnings $ (435,890) $ (424,907) $ (409,478) $ (426,385) $ (386,735) $ (331,428) $ (325,838) $ (301,818)
Accounting Standards Update [Extensible List]us-gaap:AccountingStandardsUpdate201613Memberus-gaap:AccountingStandardsUpdate201613Member
Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Decrease to retained earnings $ 609
Retained Earnings (Accumulated Deficit)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Decrease to retained earnings $ 32,783 (14,235) $ 37,140 $ 1,847 $ 16,453 $ 10,213 $ 6,994 $ 12,908
Retained Earnings (Accumulated Deficit) | Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Decrease to retained earnings $ 609 $ 600

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019
Disaggregation of Revenue [Line Items]
Total revenue $ 129,717 $ 103,397 $ 334,781 $ 261,460
United States
Disaggregation of Revenue [Line Items]
Total revenue81,065 74,710 227,569 185,388
International
Disaggregation of Revenue [Line Items]
Total revenue $ 48,652 $ 28,687 $ 107,212 $ 76,072
Geographic Concentration Risk | Revenue from Contract with Customer | United Kingdom
Disaggregation of Revenue [Line Items]
Concentration risk, percent12.30%10.50%

Revenue - Contract Assets and C

Revenue - Contract Assets and Contract Liabilities (Details) - USD ($)3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019Dec. 31, 2019
Contract With Customer, Contract Assets and Contract Liabilities [Line Items]
Contract assets, impairment $ 0 $ 0
Revenue recognized related to amounts that were included in deferred revenue16,200,000 $ 17,400,000 $ 76,000,000 $ 75,400,000
Minimum
Contract With Customer, Contract Assets and Contract Liabilities [Line Items]
Transferred to receivables period12 months
Maximum
Contract With Customer, Contract Assets and Contract Liabilities [Line Items]
Transferred to receivables period24 months
Prepaid Expenses and Other Current Assets
Contract With Customer, Contract Assets and Contract Liabilities [Line Items]
Contract assets, current36,700,000 $ 36,700,000 $ 18,500,000
Other Noncurrent Assets
Contract With Customer, Contract Assets and Contract Liabilities [Line Items]
Contract assets, noncurrent $ 58,300,000 $ 58,300,000 $ 39,300,000

Revenue - Assets Recognized fro

Revenue - Assets Recognized from Costs to Obtain Contracts with Customers (Details)9 Months Ended
Sep. 30, 2020USD ($)
Change in Capitalized Contract Costs [Roll Forward]
Balances at December 31, 2019 $ 43,035,000
Additional deferred commissions26,821,000
Amortization of deferred commissions(25,470,000)
Effects of foreign currency translation(97,000)
Balances at September 30, 202044,289,000
Capitalized contract cost, net, current21,100,000
Impairments of assets related to deferred contract costs $ 0

Revenue - Remaining Performance

Revenue - Remaining Performance Obligation (Details) $ in MillionsSep. 30, 2020USD ($)
Revenue from Contract with Customer [Abstract]
Remaining performance obligation, amount $ 402.7
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-10-01
Revenue from Contract with Customer [Abstract]
Remaining performance obligation, amount $ 365.1
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, period24 months

Business Combinations - Additio

Business Combinations - Additional Information (Detail) - USD ($) $ in ThousandsApr. 04, 2019Sep. 30, 2020Dec. 31, 2019
Business Acquisition [Line Items]
Goodwill $ 36,930 $ 36,910
Developed technology
Business Acquisition [Line Items]
Amortization period5 years 8 months 12 days5 years 4 months 24 days
ClearStory Data Inc.
Business Acquisition [Line Items]
Business combination acquired percentage100.00%
Aggregate consideration payable in exchange for outstanding equity interest $ 19,600
Cash consideration held back for customary indemnification matters amount $ 3,000
Cash consideration held back for customary indemnification matters period18 months
Business combination, employee retention compensation $ 6,000
Business combination, employee retention compensation period24 months
Goodwill $ 9,500
Purchase price allocation, assets acquired and liabilities assumed, net $ 600
Amortization period4 years
ClearStory Data Inc. | Developed technology | Level 3
Business Acquisition [Line Items]
Fair value of completed technology $ 10,700
ClearStory Data Inc. | Developed technology | Level 3 | Measurement Input, Discount Rate
Business Acquisition [Line Items]
Business combination, measurement input, discount rate0.20

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Cash and Cash Equivalents and Investments' Costs, Gross Unrealized Gains (Losses), and Fair Value by Major Security Type Recorded as Cash and Cash Equivalents or Short-Term or Long-Term Investments (Details) - USD ($) $ in ThousandsSep. 30, 2020Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents $ 95,952 $ 409,949
Short-term Investments627,259 376,995
Long-term Investments259,277 187,921
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents95,952 409,949
Gross unrealized gains (losses)2,386 637
Cash and cash equivalents and investment, cost980,102 974,228
Cash and cash equivalents and investments, fair value982,488 974,865
Short-term Investments627,259 376,995
Long-term Investments259,277 187,921
Fair Value, Measurements, Recurring | Cash
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents49,548 53,039
Cash and cash equivalents, fair value49,548 53,039
Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents31,433 223,580
Cash and cash equivalents, fair value31,433 223,580
Fair Value, Measurements, Recurring | Level 1 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents31,433 223,580
Cash and cash equivalents, fair value31,433 223,580
Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents14,971 133,330
Investments, cost899,121 697,609
Gross unrealized gains (losses)2,386 637
Investments, fair value901,507 698,246
Short-term Investments627,259 376,995
Long-term Investments259,277 187,921
Fair Value, Measurements, Recurring | Level 2 | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents14,971 98,325
Investments, cost116,849 217,140
Gross unrealized gains (losses)22 (6)
Investments, fair value116,871 217,134
Short-term Investments101,900 118,809
Long-term Investments0 0
Fair Value, Measurements, Recurring | Level 2 | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, cost2,800 1,000
Gross unrealized gains (losses)0 0
Investments, fair value2,800 1,000
Short-term Investments2,800 0
Long-term Investments0 1,000
Fair Value, Measurements, Recurring | Level 2 | U.S. Treasury and agency bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents0 35,005
Investments, cost592,734 294,953
Gross unrealized gains (losses)1,723 199
Investments, fair value594,457 295,152
Short-term Investments393,501 161,767
Long-term Investments200,956 98,380
Fair Value, Measurements, Recurring | Level 2 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents0
Investments, cost186,738 184,516
Gross unrealized gains (losses)641 444
Investments, fair value187,379 184,960
Short-term Investments129,058 96,419
Long-term Investments58,321 88,541
Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, cost0 0
Gross unrealized gains (losses)0 0
Investments, fair value0 0
Short-term Investments0 0
Long-term Investments $ 0 $ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Millions9 Months Ended
Sep. 30, 2020Jan. 01, 2020Dec. 31, 2019
Fair Value Disclosures [Line Items]
Gross unrealized losses $ 0.1
Fair value of convertible senior notes1,000
Domestic Cash and Investments
Fair Value Disclosures [Line Items]
Cash, cash equivalents and restricted cash $ 968.4 $ 963.4
Minimum
Fair Value Disclosures [Line Items]
Long-term investments maturity period1 year
Maximum
Fair Value Disclosures [Line Items]
Long-term investments maturity period2 years
Cumulative Effect, Period of Adoption, Adjustment | Accumulated Other Comprehensive Gain (Loss)
Fair Value Disclosures [Line Items]
Gross unrealized losses $ 0.1

Allowance for Doubtful Accoun_3

Allowance for Doubtful Accounts and Sales Reserves (Details) $ in Thousands9 Months Ended
Sep. 30, 2020USD ($)
Accounts Receivable Reserve
Balance at December 31, 2019 $ 2,662
Adoption of new accounting standard2,928
Provision1,600
Recoveries(613)
Charge-offs(721)
Balance at September 30, 20202,928
Contract Asset Reserve
Balance at December 31, 2019205
Adoption of new accounting standard2,547
Provision1,832
Recoveries(32)
Charge-offs(67)
Balance at September 30, 20202,547
Cumulative Effect, Period of Adoption, Adjustment | Accounts Receivable Reserve
Accounts Receivable Reserve
Balance at December 31, 20190
Adoption of new accounting standard0
Cumulative Effect, Period of Adoption, Adjustment | Contract Asset Reserve
Contract Asset Reserve
Balance at December 31, 2019609
Adoption of new accounting standard $ 609

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Schedule of Change in Carrying Amount of Goodwill (Details) $ in Thousands9 Months Ended
Sep. 30, 2020USD ($)
Goodwill [Roll Forward]
Goodwill as of December 31, 2019 $ 36,910
Effects of foreign currency translation20
Goodwill as of September 30, 2020 $ 36,930

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands9 Months Ended12 Months Ended
Sep. 30, 2020Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value $ 23,241 $ 29,324
Accumulated Amortization(5,999)(7,241)
Net Carrying Value $ 17,242 $ 22,083
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Useful Life in Years7 years7 years
Gross Carrying Value $ 1,526 $ 1,503
Accumulated Amortization(572)(402)
Net Carrying Value $ 954 $ 1,101
Developed technology
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Useful Life in Years5 years 8 months 12 days5 years 4 months 24 days
Gross Carrying Value $ 21,715 $ 27,821
Accumulated Amortization(5,427)(6,839)
Net Carrying Value16,288 $ 20,982
Impairment charge related to completed technology assets $ 2,000

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Schedule of Intangible Asset Amortization Expense (Details) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets $ 829 $ 1,181 $ 2,809 $ 2,838
Cost of revenue
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets773 1,128 2,653 2,670
Sales and marketing
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets $ 56 $ 53 $ 156 $ 168

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Schedule of Finite-Lived Intangible Assets Estimated Remaining Amortization Expense (Details) - USD ($) $ in ThousandsSep. 30, 2020Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2020 $ 1,158
20214,596
20224,596
20232,604
20241,928
Thereafter2,360
Net Carrying Value $ 17,242 $ 22,083

Convertible Senior Notes - Summ

Convertible Senior Notes - Summary of Debt (Details) - Convertible Senior Notes1 Months Ended
Aug. 31, 2019USD ($)$ / sharesJun. 30, 2018USD ($)$ / sharesSep. 30, 2020USD ($)$ / sharesDec. 31, 2019USD ($)
Convertible Senior Note due 2023, 0.5%
Debt Instrument [Line Items]
Original Principal (including over-allotment) $ 230,000,000 $ 84,748,000 $ 84,759,000
Coupon Interest Rate0.50%
Effective Interest Rate7.00%
Conversion Rate0.0225572
Initial Conversion Price | $ / shares $ 44.33 $ 44.33
Principal $ 230,000,000 $ 84,748,000 84,759,000
Less: debt discount and issuance costs, net of amortization(13,281,000)(16,605,000)
Net carrying amount71,467,000 68,154,000
Equity, net of issuance costs46,473,000 46,474,000
Convertible Senior Note due 2024, 0.50%
Debt Instrument [Line Items]
Original Principal (including over-allotment) $ 400,000,000 400,000,000 400,000,000
Coupon Interest Rate0.50%
Effective Interest Rate4.96%
Conversion Rate0.0052809
Initial Conversion Price | $ / shares $ 189.36
Principal $ 400,000,000 400,000,000 400,000,000
Less: debt discount and issuance costs, net of amortization(61,857,000)(72,669,000)
Net carrying amount338,143,000 327,331,000
Equity, net of issuance costs69,749,000 69,749,000
Convertible Senior Note due 2026, 1.0%
Debt Instrument [Line Items]
Original Principal (including over-allotment) $ 400,000,000 400,000,000 400,000,000
Coupon Interest Rate1.00%
Effective Interest Rate5.41%
Conversion Rate0.0052809
Initial Conversion Price | $ / shares $ 189.36
Principal $ 400,000,000 400,000,000 400,000,000
Less: debt discount and issuance costs, net of amortization(87,592,000)(97,010,000)
Net carrying amount312,408,000 302,990,000
Equity, net of issuance costs $ 93,380,000 $ 93,380,000

Convertible Senior Notes - Addi

Convertible Senior Notes - Additional Information (Details)1 Months Ended9 Months Ended28 Months Ended
Aug. 31, 2019USD ($)$ / optionsharesJun. 30, 2018USD ($)$ / optionSep. 30, 2020USD ($)daySep. 30, 2020USD ($)dayDec. 31, 2019USD ($)
Derivative [Line Items]
Capped calls, cost $ 87,400,000 $ 19,100,000
Capped calls, deferred tax asset $ 20,900,000 $ 4,600,000
Price Risk Derivative
Derivative [Line Items]
Capped calls, initial strike price (in dollars per share) | $ / option189.3644.33
Capped calls, cap price (in dollars per share) | $ / option315.6062.22
Convertible Senior Notes | Convertible Senior Note due 2023, 0.5%
Debt Instrument [Line Items]
Principal $ 230,000,000 $ 84,748,000 $ 84,748,000 $ 84,759,000
Coupon interest rate0.50%
If-converted value in excess of principal $ 132,300,000
Convertible Senior Notes | Convertible Senior Note due 2023, 0.5% | Debt Instrument, Conversion, Option One
Debt Instrument [Line Items]
Convertible debt, threshold trading days | day20
Convertible debt, threshold consecutive trading days | day30
Convertible debt, threshold percentage of stock price trigger130.00%
Convertible debt, converted instrument, original amount $ 145,200,000
Debt extinguishment with interest145,400,000
Debt conversion, original debt, amount settled $ 11,000
Convertible Senior Notes | Convertible Senior Notes due 2023, Over-Allotment Option, 0.5%
Debt Instrument [Line Items]
Principal $ 30,000,000
Convertible Senior Notes | Convertible Senior Note due 2024, 0.50%
Debt Instrument [Line Items]
Principal $ 400,000,000 400,000,000 400,000,000 400,000,000
Coupon interest rate0.50%
Convertible Senior Notes | Convertible Senior Note due 2026, 1.0%
Debt Instrument [Line Items]
Principal $ 400,000,000 $ 400,000,000 $ 400,000,000 $ 400,000,000
Coupon interest rate1.00%
Convertible Senior Notes | Convertible Senior Notes due 2024, Over-Allotment Option, 0.5%
Debt Instrument [Line Items]
Principal $ 50,000,000
Convertible Senior Notes | Convertible Senior Notes due 2026, Over-Allotment Option, 1.0%
Debt Instrument [Line Items]
Principal $ 50,000,000
Convertible Senior Notes | Convertible Senior Notes Due 2023, 2024, 2026 | Debt Instrument, Conversion, Option One
Debt Instrument [Line Items]
Convertible debt, threshold trading days | day20
Convertible debt, threshold consecutive trading days | day30
Convertible debt, threshold percentage of stock price trigger130.00%
Convertible Senior Notes | Convertible Senior Notes Due 2023, 2024, 2026 | Debt Instrument, Conversion, Option Two
Debt Instrument [Line Items]
Convertible debt, threshold trading days | day5
Convertible debt, threshold consecutive trading days | day5
Convertible debt, threshold percentage of stock price trigger98.00%
Class A Common Stock
Derivative [Line Items]
Capped calls, retirement of common stock (in shares) | shares285,466
Class A Common Stock | Debt Instrument, Conversion, Option Two
Debt Instrument [Line Items]
Convertible debt, converted instrument, shares issued | shares2,200,000

Convertible Senior Notes - Su_2

Convertible Senior Notes - Summary of Interest Expense (Details) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019
Debt Instrument [Line Items]
Amortization of debt issuance costs and discount $ 23,553 $ 10,949
Convertible Senior Notes | Convertible senior notes
Debt Instrument [Line Items]
Contractual interest expense $ 1,606 $ 1,005 4,818 1,580
Amortization of debt issuance costs and discount7,992 5,436 23,552 10,949
Total $ 9,598 $ 6,441 $ 28,370 $ 12,529

Equity Awards - Schedule of Sto

Equity Awards - Schedule of Stock Option Activity (Details) shares in Thousands9 Months Ended
Sep. 30, 2020$ / sharesshares
Options Outstanding
Options outstanding, beginning balance (in shares) | shares2,712
Granted (in shares) | shares227
Exercised (in shares) | shares(956)
Canceled/forfeited (in shares) | shares(190)
Options outstanding, ending balance (in shares) | shares1,793
Weighted-Average Exercise Price
Weighted-average exercise price, beginning balance (in dollars per share) | $ / shares $ 22.58
Weighted-average exercise price, granted (in dollars per share) | $ / shares145.43
Weighted-average exercise price, exercised (in dollars per share) | $ / shares14.19
Weighted-average exercise price, canceled/forfeited (in dollars per share) | $ / shares39.29
Weighted-average exercise price, ending balance (in dollars per share) | $ / shares $ 40.81

Equity Awards - Additional Info

Equity Awards - Additional Information (Details) $ in Millions9 Months Ended
Sep. 30, 2020USD ($)
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to unvested stock options $ 18.8
Weighted-average period, expected to be recognized2 years
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average period, expected to be recognized2 years 4 months 24 days
Unrecognized compensation expense, related to unvested RSUs $ 166.5

Equity Awards - Schedule of Val

Equity Awards - Schedule of Valuation Assumptions (Details) - Two Thousand Seventeen Equity Incentive Plan - $ / shares9 Months Ended
Sep. 30, 2020Sep. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)5 years 9 months 18 days5 years 9 months 18 days
Estimated volatility44.00%38.00%
Risk-free interest rate1.00%2.00%
Estimated dividend yield0.00%0.00%
Weighted average fair value (in dollars per share) $ 61.64 $ 29.24

Equity Awards - Schedule of RSU

Equity Awards - Schedule of RSU Activity (Details) - Restricted Stock Units shares in Thousands9 Months Ended
Sep. 30, 2020$ / sharesshares
Awards Outstanding
Beginning balance (in shares) | shares1,576
Granted (in shares) | shares1,074
Vested (in shares) | shares(392)
Canceled/forfeited (in shares) | shares(233)
Ending balance (in shares) | shares2,025
Weighted-Average Grant Date Fair Value
Beginning balance (in dollars per share) | $ / shares $ 64.46
Granted (in dollars per share) | $ / shares134.96
Vested (in dollars per share) | $ / shares58.90
Canceled/forfeited (in dollars per share) | $ / shares76.80
Ending balance (in dollars per share) | $ / shares $ 101.49

Equity Awards - Schedule of S_2

Equity Awards - Schedule of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total $ 20,697 $ 8,836 $ 51,284 $ 22,195
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total714 431 1,747 1,148
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total5,796 1,659 12,415 4,014
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total7,674 3,471 20,433 8,822
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total $ 6,513 $ 3,275 $ 16,689 $ 8,211

Leases - Lease Costs (Details)

Leases - Lease Costs (Details) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019
Leases [Abstract]
Operating lease cost $ 2,657 $ 1,943 $ 7,501 $ 4,961
Short-term lease cost253 339 1,260 1,053
Variable lease cost1,084 511 2,710 1,294
Total lease cost $ 3,994 $ 2,793 $ 11,471 $ 7,308

Leases - Undiscounted Cash Flow

Leases - Undiscounted Cash Flows (Details) - USD ($) $ in ThousandsSep. 30, 2020Dec. 31, 2019
Leases [Abstract]
Remainder of 2020 $ 3,344
202112,965
202212,300
202310,546
20249,723
20258,948
Thereafter10,175
Total minimum lease payments68,001
Less imputed interest(9,634)
Present value of future minimum lease payments58,367
Less current obligations under leases (1)(10,341)
Operating lease liabilities $ 48,026 $ 29,293
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]us-gaap:AccruedLiabilitiesCurrent

Leases - Narrative (Details)

Leases - Narrative (Details) $ in ThousandsSep. 30, 2020USD ($)lease
Lessee, Lease, Description [Line Items]
Lessee, operating lease, lease executed but not yet commenced, number of leases | lease5
Lease not yet commenced, liability $ 65,800
Lease not yet commenced, liability, due next 24 months16,800
Present value of future minimum lease payments58,367
Corporate Headquarters
Lessee, Lease, Description [Line Items]
Present value of future minimum lease payments $ 12,600
Minimum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, term of contract2 years
Maximum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, term of contract8 years

Contingencies (Details)

Contingencies (Details) - USD ($)Sep. 30, 2020Dec. 31, 2019
Indemnification
Commitments And Contingencies [Line Items]
Loss contingency accrual $ 0 $ 0

Income Taxes - Schedule of Prov

Income Taxes - Schedule of Provision for Income Taxes and Effective Tax Rates (Details) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019Dec. 31, 2019
Income Tax Disclosure [Abstract]
Provision for (benefit of) income taxes $ 809 $ (8,663) $ (3,055) $ (26,456)
Effective tax rate(15.70%)(58.10%)(6.20%)(88.20%)
Deferred tax liability $ 5,600

Basic and Diluted Net Income _3

Basic and Diluted Net Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019Jun. 30, 2018
Numerator:
Net income (loss) attributable to common stockholders $ 4,357 $ (6,240) $ (46,409) $ (3,545)
Denominator:
Weighted-average shares used to compute net income (loss) per share attributable to common stockholders, basic (in shares)66,265 63,966 65,895 62,842
Effect of dilutive securities:
Convertible senior notes (in shares)1,289 0 0 0
Employee stock awards (in shares)2,220 0 0 0
Weighted-average shares used to compute net income (loss) per share attributable to common stockholders, diluted (in shares)69,774 63,966 65,895 62,842
Net income (loss) per share attributable to common stockholders, basic (in dollars per share) $ 0.07 $ (0.10) $ (0.70) $ (0.06)
Net income (loss) per share attributable to common stockholders, diluted (in dollars per share) $ 0.06 $ (0.10) $ (0.70) $ (0.06)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded from calculation of earnings per share (in shares)4,538 10,198 10,180 10,110
Stock awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded from calculation of earnings per share (in shares)313 4,483 4,043 4,744
Convertible senior notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded from calculation of earnings per share (in shares)4,225 5,715 6,137 5,366
Convertible Senior Notes | Convertible Senior Note due 2023, 0.5%
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Initial Conversion Price $ 44.33 $ 44.33 $ 44.33
Convertible Senior Notes | Convertible Senior Notes due 2024 & 2026, 0.50%, 1.0%
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Initial Conversion Price $ 189.36 $ 189.36