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Momentive Global (MNTV)

Document and Entity Information

Document and Entity Information - USD ($)12 Months Ended
Dec. 31, 2020Feb. 12, 2021Jun. 30, 2020
Cover [Abstract]
Document Type10-K
Amendment Flagfalse
Document Period End DateDec. 31,
2020
Document Fiscal Year Focus2020
Document Fiscal Period FocusFY
Trading SymbolSVMK
Entity Registrant NameSVMK Inc.
Entity Central Index Key0001739936
Current Fiscal Year End Date--12-31
Entity Well-known Seasoned IssuerNo
Entity Current Reporting StatusYes
Entity Voluntary FilersNo
Entity Filer CategoryLarge Accelerated Filer
Entity Emerging Growth Companyfalse
Entity Small Businessfalse
ICFR Auditor Attestation Flagtrue
Entity Shell Companyfalse
Entity Common Stock, Shares Outstanding144,247,562
Entity Public Float $ 2,494,663,000
Document Annual Reporttrue
Document Transition Reportfalse
Entity Interactive Data CurrentYes
Entity File Number001-38664
Entity Tax Identification Number80-0765058
Entity Incorporation, State or Country CodeDE
Entity Address, Address Line OneOne Curiosity Way
Entity Address, City or TownSan Mateo
Entity Address, State or ProvinceCA
Entity Address, Postal Zip Code94403
City Area Code650
Local Phone Number543-8400
Title of 12(b) SecurityCommon Stock, par value$0.00001 per share
Security Exchange NameNASDAQ
Documents Incorporated by ReferencePortions of the registrant’s definitive proxy statement for the registrant’s annual meeting of stockholders are incorporated by reference into Part III of this Annual Report on Form 10-K to the extent stated herein. Such proxy statement will be filed with the Securities and Exchange Commission within 120 days of the registrant’s fiscal year ended December 31, 2020.

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in ThousandsDec. 31, 2020Dec. 31, 2019
Current assets:
Cash and cash equivalents $ 224,390 $ 131,035
Accounts receivable, net of allowance of $519 and $16224,177 17,795
Deferred commissions, current5,429 3,078
Prepaid expenses and other current assets10,520 9,382
Total current assets264,516 161,290
Property and equipment, net18,924 35,072
Operating lease right-of-use assets56,986 63,904
Capitalized internal-use software, net29,462 33,156
Acquisition intangible assets, net21,207 33,150
Goodwill468,764 462,927
Deferred commissions, non-current10,018 5,384
Other assets7,940 9,376
Total assets877,817 804,259
Current liabilities:
Accounts payable3,348 2,677
Accrued expenses and other current liabilities15,198 16,077
Accrued compensation32,149 24,031
Deferred revenue, current169,872 139,990
Operating lease liabilities, current8,318 8,381
Debt, current1,900 1,900
Total current liabilities230,785 193,056
Deferred revenue, non-current760 1,015
Deferred tax liabilities5,153 4,870
Debt, non-current211,716 213,616
Operating lease liabilities, non-current74,487 82,668
Other non-current liabilities8,560 7,050
Total liabilities531,461 502,275
Commitments and contingencies (Note 11)
Stockholders’ equity:
Preferred stock ($0.00001 par value; 100,000 shares authorized; no shares issued and outstanding)0 0
Common stock ($0.00001 par value; 800,000 shares authorized; 143,820 and 136,054 shares issued and outstanding)1 1
Additional paid-in capital835,444 705,143
Accumulated other comprehensive income (loss)5,208 (444)
Accumulated deficit(494,297)(402,716)
Total stockholders’ equity346,356 301,984
Total liabilities and stockholders’ equity $ 877,817 $ 804,259

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in ThousandsDec. 31, 2020Dec. 31, 2019
Statement Of Financial Position [Abstract]
Allowance for accounts receivable $ 519 $ 162
Preferred stock, par value (in dollars per share) $ 0.00001 $ 0.00001
Preferred stock, shares authorized (in shares)100,000,000 100,000,000
Preferred stock, shares issued (in shares)0 0
Preferred stock, shares outstanding (in shares)0 0
Common stock, par value (in dollars per share) $ 0.00001 $ 0.00001
Common stock, shares authorized (in shares)800,000,000 800,000,000
Common stock, shares issued (in shares)143,820,000 136,054,000
Common stock, shares outstanding (in shares)143,820,000 136,054,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 31, 2018
Income Statement [Abstract]
Revenue $ 375,610 $ 307,421 $ 254,324
Cost of revenue[1],[2]83,917 76,524 77,982
Gross profit291,693 230,897 176,342
Operating expenses:
Research and development[2]112,989 90,545 106,188
Sales and marketing[1],[2]172,376 123,573 95,783
General and administrative[2]87,909 83,288 97,339
Restructuring0 (66)3,525
Total operating expenses373,274 297,340 302,835
Loss from operations(81,581)(66,443)(126,493)
Interest expense10,257 14,157 27,801
Other non-operating (income) expense, net(1,436)(3,962)298
Loss before income taxes(90,402)(76,638)(154,592)
Provision for (benefit from) income taxes1,179 (2,779)148
Net loss $ (91,581) $ (73,859) $ (154,740)
Net loss per share, basic and diluted $ (0.65) $ (0.56) $ (1.43)
Weighted-average shares used in computing basic and diluted net loss per share139,887 131,568 107,900
[1]
[2]

CONSOLIDATED STATEMENTS OF OP_2

CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 31, 2018
Allocated share-based compensation expense $ 79,167 $ 60,245 $ 131,770
Amortization of acquisition intangible assets12,602 8,995 4,270
Cost of revenue
Allocated share-based compensation expense4,450 3,658 8,931
Amortization of acquisition intangible assets7,495 5,365 1,952
Research and development
Allocated share-based compensation expense30,693 21,159 48,739
Sales and marketing
Allocated share-based compensation expense19,707 11,950 19,046
Amortization of acquisition intangible assets5,107 3,630 2,318
General and administrative
Allocated share-based compensation expense $ 24,317 $ 23,478 $ 55,054

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 31, 2018
Statement Of Income And Comprehensive Income [Abstract]
Net loss $ (91,581) $ (73,859) $ (154,740)
Other comprehensive loss:
Foreign currency translation gains (losses)[1]5,652 (157)(306)
Total other comprehensive income (loss)[1]5,652 (157)(306)
Total comprehensive loss $ (85,929) $ (74,016) $ (155,046)
[1]Net of tax effect which was not material.

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in ThousandsTotalCumulative Effect, Period of Adoption, AdjustmentCommon StockCommon StockCumulative Effect, Period of Adoption, AdjustmentAdditional Paid-In CapitalAdditional Paid-In CapitalCumulative Effect, Period of Adoption, AdjustmentAccumulated Other Comprehensive Income (Loss)Accumulated Other Comprehensive Income (Loss)Cumulative Effect, Period of Adoption, AdjustmentAccumulated DeficitAccumulated DeficitCumulative Effect, Period of Adoption, Adjustment
Beginning Balance at Dec. 31, 2017 $ 40,043 $ 1 $ 217,594 $ 19 $ (177,571)
Beginning Balance (Accounting Standards Update 2017-09) at Dec. 31, 2017 $ 0 $ 0 $ (43) $ 0 $ 43
Begining balance, Shares at Dec. 31, 2017101,383,000
Issuance of common stock in connection with initial public offering, net225,336 $ 0 225,336 0 0
Issuance of common stock in connection with initial public offering, net, Shares20,583,000
Common stock issued upon vesting of restricted stock units(25,807) $ 0 (25,807)0 0
Common stock issued upon vesting of restricted stock units, Shares3,771,000
Common stock issued upon stock option exercise494 $ 0 494 0 0
Common stock issued upon stock option exercise, Shares82,000
Repurchase of common stock(16) $ 0 (16)0 0
Repurchase of common stock, Shares(1,159)
Stock-based compensation expense134,379 $ 0 134,379 0 0
Comprehensive income (loss)(306)[1]0 0 (306)0
Net loss(154,740)0 0 0 (154,740)
Ending balance at Dec. 31, 2018219,383 $ 1 551,937 (287)(332,268)
Ending balance (ASC 842) at Dec. 31, 2018 $ 3,411 $ 0 $ 0 $ 0 $ 3,411
Ending balance, Shares at Dec. 31, 2018125,818,000
Common stock issued upon vesting of restricted stock units0 $ 0 0 0 0
Common stock issued upon vesting of restricted stock units, Shares3,661,000
Common stock issued upon stock option exercise47,678 $ 0 47,678 0 0
Common stock issued upon stock option exercise, Shares3,733,000
Common stock issued in connection with acquisitions36,204 $ 0 36,204 0 0
Common stock issued in connection with acquisitions, shares2,320,000
Common stock issued under employee stock purchase plan5,344 $ 0 5,344 0 0
Common stock issued under employee stock purchase plan, shares506,000
Stock-based compensation expense63,748 $ 0 63,748 0 0
Comprehensive income (loss)(157)[1]0 0 (157)0
Other232 $ 0 232 0 0
Other, shares16,000
Net loss(73,859) $ 0 0 0 (73,859)
Ending balance at Dec. 31, 2019301,984 $ 1 705,143 (444)(402,716)
Ending balance, Shares at Dec. 31, 2019136,054,000
Common stock issued upon vesting of restricted stock units0 $ 0 0 0 0
Common stock issued upon vesting of restricted stock units, Shares4,115,000
Common stock issued upon stock option exercise $ 42,172 $ 0 42,172 0 0
Common stock issued upon stock option exercise, Shares3,088,076 3,088,000
Common stock issued under employee stock purchase plan $ 6,719 $ 0 6,719 0 0
Common stock issued under employee stock purchase plan, shares563,000
Stock-based compensation expense81,410 $ 0 81,410 0 0
Comprehensive income (loss)5,652 [1]0 0 5,652 0
Net loss(91,581)0 0 0 (91,581)
Ending balance at Dec. 31, 2020 $ 346,356 $ 1 $ 835,444 $ 5,208 $ (494,297)
Ending balance, Shares at Dec. 31, 2020143,820,000
[1]Net of tax effect which was not material.

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 31, 2018
Cash flows from operating activities
Net loss $ (91,581) $ (73,859) $ (154,740)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization47,822 45,133 48,068
Non-cash leases expense13,092 12,537 0
Stock-based compensation expense, net of amounts capitalized79,167 60,245 131,770
Deferred income taxes814 (3,676)(508)
Bad debt expense1,352 432 186
Loss on debt extinguishment0 0 941
Gain on sale of a private company investment(1,001)(1,001)(999)
Impairment of property and equipment0 0 2,821
Other1,588 (157)1,798
Changes in assets and liabilities:
Accounts receivable(7,643)(7,671)(2,144)
Prepaid expenses and other assets(12,106)(5,172)(5,565)
Accounts payable and accrued liabilities1,148 8,318 3,564
Accrued interest on financing lease obligation, net of payments0 0 (1,376)
Accrued compensation7,865 2,232 5,203
Deferred revenue29,742 31,181 16,353
Operating lease liabilities(14,629)(13,890)0
Net cash provided by operating activities55,630 54,652 45,372
Cash flows from investing activities
Acquisitions, net of cash acquired0 (114,603)0
Purchases of property and equipment(782)(2,450)(9,981)
Capitalized internal-use software(9,220)(12,034)(12,052)
Proceeds from sale of a private company investment and other1,095 1,001 999
Net cash used in investing activities(8,907)(128,086)(21,034)
Cash flows from financing activities
Proceeds from initial public offering, net0 0 232,509
Payments of deferred offering costs0 0 (7,173)
Proceeds from stock option exercises42,150 47,678 494
Proceeds from employee stock purchase plan6,719 5,344 0
Employee payroll taxes paid for net share settlement of restricted stock units0 0 (25,807)
Payments to repurchase common stock0 0 (16)
Repayment of debt(2,200)(2,200)(104,050)
Payment of debt issuance costs and other0 0 (482)
Net cash provided by financing activities46,669 50,822 95,475
Effect of exchange rate changes on cash(461)(76)(787)
Net increase (decrease) in cash, cash equivalents and restricted cash92,931 (22,688)119,026
Cash, cash equivalents and restricted cash at beginning of period131,683 154,371 35,345
Cash, cash equivalents and restricted cash at end of period224,614 131,683 154,371
Supplemental cash flow data:
Interest paid for term debt9,590 13,502 20,466
Income taxes paid583 756 535
Non-cash investing and financing transactions:
Fair value of common stock issued as acquisitions consideration0 36,204 0
Stock compensation included in capitalized software costs2,243 3,503 2,609
Lease liabilities arising from obtaining right-of-use assets, net0 7,937 0
Derecognized financing obligation related to building due to adoption of ASC 8420 92,009 0
Derecognized building due to adoption of ASC 842 $ 0 $ 71,781 $ 0

Company Overview and Basis of P

Company Overview and Basis of Presentation12 Months Ended
Dec. 31, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Company Overview and Basis of Presentation1. Company Overview and Basis of Presentation Business SVMK Inc. (the “Company”) is a leader in agile software solutions that help companies turn stakeholder feedback into action. The Company offers SaaS feedback solutions across three major product pillars—Surveys, Customer Experience, and Market Research. The Company was incorporated in 2011 as a Delaware corporation and is the successor to operations originally begun in 1999. The Company’s headquarters are located in the United States and its international operations are primarily based in Ireland, Canada and the Netherlands. Principles of Consolidation and Basis of Presentation The accompanying consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and include the results of operations of the Company and its wholly-owned subsidiaries. All significant intercompany transactions have been eliminated. Certain other prior year balances have been reclassified to conform to the current year presentation. Such reclassifications did not affect our results of operations or operating, investing and financing cash flows. Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and reported amounts of revenue and expenses during the reporting periods covered by the consolidated financial statements and accompanying notes. Actual results could differ materially from those estimates due to a variety of factors, including the unforeseen effects of the COVID-19 pandemic on the Company’s business and financial results. Due to the COVID-19 pandemic, there is ongoing uncertainty and significant disruption in the global economy and financial markets. The Company is not aware of any specific event or circumstances that would require an update to its estimates, judgments or assumptions or a revision to the carrying value of its assets or liabilities as of the date of issuance of its financial statements. These estimates, judgments and assumptions may change in the future, as new events occur or additional information is obtained. The Company bases its estimates on historical experience and on various other assumptions that it believes to be reasonable. The Company’s most significant estimate and use of judgment involves the valuation of acquired goodwill and intangibles from acquisitions. Segment Information The Company operates as a single Related Party Transactions Certain members of the Company’s Board of Directors (“Board”) serve as board members, are executive officers of and/or (in some cases) are investors in companies that are customers and/or vendors of the Company. The Company incurred related party expenses of $4.3 million, $2.2 million and $1.5 million during the years ended December 31, 2020, 2019 and 2018, respectively.

Summary of Significant Accounti

Summary of Significant Accounting Policies12 Months Ended
Dec. 31, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies2. Summary of Significant Accounting Policies Revenue Recognition and Deferred Revenue The Company generates a substantial majority of its revenue from the sale of subscriptions to its software products for survey feedback and customer experience. The revenue the Company generates from its transactional market research solutions services is not significant. The Company normally sells each of these products in separate contracts to its customers and each product is distinct. The Company’s policy is to exclude sales and other indirect taxes when measuring the transaction price of its subscription agreements. The Company accounts for revenue contracts with customers through the following steps:

Identification of the contract, or contracts, with a customer;

Identification of the performance obligations in the contract;

Determination of the transaction price;

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

Recognition of revenue when, or as, the Company satisfies a performance obligation. For subscription products, the Company provides customers the option of monthly, annual or multi-year contractual terms. In general, the Company’s customers elect contractual terms of one year or less. Subscription revenue is recognized on a straight-line basis over the related subscription term beginning on the date the Company provides access. Access to the Company’s subscription product is an obligation representing a series of distinct services (and which comprise a single performance obligation) that the Company provides to its end customer over the subscription term. The Company recognizes its subscription revenue on a straight-line basis because the customer benefits from access to the products throughout the contractual term. The transactional market research solution services are billed in advance and revenue is recognized after the services have been delivered. The Company's contracts are generally non-cancellable and do not contain refund-type provisions and are billed in advance. Amounts that have been invoiced are recorded in accounts receivable and in deferred revenue or revenue, depending on whether transfer of control to customers has occurred or services have been delivered. The Company records contract liabilities to deferred revenue when cash payments are received or due. Deferred revenue consists of the unearned portion of customer billings. Cost of Revenue Cost of revenue associated with the delivery of the Company’s online platform to its users generally consists of infrastructure costs, personnel costs and other related costs. Infrastructure costs generally include expenses related to the operation of the Company’s data centers, such as data center equipment depreciation and facility costs (such as co-location rentals), website hosting costs, credit card processing fees, amortization of capitalized software, charity donations and external sample costs. Personnel costs include salaries and bonuses, stock-based compensation expense, other employee benefits and travel-related expenses for employees whose primary responsibilities relate to supporting the Company’s infrastructure and delivering user support. Other related costs include amortization of acquired developed technology intangible assets and allocated overhead. Deferred Commissions Certain commissions earned by the Company’s salesforce are considered to be incremental and recoverable costs of obtaining a contract with a customer. Such costs are deferred and amortized on a straight-line basis over their estimated period of benefit which is generally estimated as four years. The period of benefit was estimated by considering factors such as historical customer attrition rates, the useful life of the Company’s technology, and the impact of competition in its industry. Amortization of deferred commissions, included in sales and marketing expense line within the consolidated statements of operations was $4.2 million, $2.7 million and $1.6 million during the years ended December 31, 2020, 2019 and 2018 respectively. There was no impairment loss in relation to the deferred commissions for any period presented. Stock-Based Compensation The Company recognizes stock-based compensation expense for all share-based payments to employees, including restricted stock units, stock options, restricted stock awards, and shares issuable under the Company’s 2018 employee stock purchase plan, as amended (“the ESPP”) based on the grant-date fair value of the Company’s common stock estimated in accordance with the provisions of ASC 718, Compensation‑Stock Compensation The Company estimates the fair value of restricted stock units (including those that are performance-based) and restricted stock awards based on the fair value of the Company’s common stock on the grant date. The Company estimates the fair values of its stock options and shares issuable under the ESPP using the Black-Scholes-Merton option-pricing model. The valuation model requires input of the following key assumptions:

Expected Term: As the Company does not have sufficient historical information to develop reasonable expectations about future exercise patterns and post-vesting employment termination behavior, the Company determines the expected term based on the average period the stock options or ESPP are expected to remain outstanding. For stock options, expected term is calculated as the midpoint of the stock options vesting term and contractual expiration period.

Expected Volatility: As the Company does not have sufficient trading history of its common stock, stock price volatility is estimated at the applicable grant date by taking the weighted-average historical volatility of a group of comparable publicly-traded companies over a period equal to the expected life of the options or ESPP.

Expected Dividend Rate: The Company has not paid and does not anticipate paying cash dividends on its shares of common stock in the foreseeable future; therefore, the expected dividend yield is assumed to be zero.

Risk-Free Interest Rate: The Company determined the risk-free interest rate by using a weighted average assumption equivalent to the expected term based on the U.S. Treasury constant maturity rate as of the date of grant. Cash and Cash Equivalents Cash and cash equivalents primarily consist of cash on deposit with banks and investments in money market funds (for which the Company had none in any of the periods presented) with maturities of 90 days or less from the date of purchase. The Company also classifies amounts in transit from payment processors for customer credit card and debit card transactions as cash equivalents, because such amounts generally convert to cash within five days with little or no default risk. Accounts Receivable Accounts receivable are presented at amortized cost net of amounts not expected to be collected. Accounts receivable are customer obligations that arise due to the time taken to settle transactions through direct customer payments. The Company bills in advance for monthly contracts and generally bills annually in advance for contracts with terms of one year or longer when it has an unconditional contractual right to consideration. The Company also recognizes an immaterial amount of contract assets, or unbilled receivables, primarily relating to rights to consideration for services completed but not billed at the reporting date. Unbilled receivables are classified as receivables when the Company has the right to invoice the customer. The Company records an allowance for credit losses based upon its assessment of various factors including the Company’s a) historical experience (including historical bad debt expense trends), the age of a customers’ accounts receivable balance, and a customers’ credit quality, b) expected losses over the remaining estimated contractual life of the receivable and c) other reasonable and supportable factors pertaining to a customers’ ability to pay (including consideration of current economic conditions). Amounts deemed uncollectible and expected credit losses are recorded to the allowance for doubtful accounts with an offsetting charge in the consolidated statements of operations. The Company evaluated its allowance for credit losses using its consolidated gross accounts receivable balance as a single portfolio segment. Bad debt expense recognized in the consolidated statements of operations was $1.4 million, $0.4 million and $0.2 million during the years ended December 31, 2020, 2019 and 2018, respectively. Write-off of uncollectible accounts receivable was $1.0 million, $0.4 million and $0.1 million during the years ended December 31, 2020, 2019 and 2018, respectively, and was recorded against the allowance for doubtful accounts. Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash, cash equivalents and accounts receivable. The Company places its cash and cash equivalents in banks, primarily in checking accounts and such amounts may at times exceed the federally insured limits. Cash equivalents consist of short-term money market funds (for which the Company had none in any of the periods presented), which are managed by reputable financial institutions. As of December 31, 2020, $201.3 million of the Company’s cash and cash equivalents are held in one financial institution. For purposes of its customer concentration disclosure, the Company defines a customer as an organization. An organization may consist of an individual paying user, multiple paying users within an organization or the organization itself. No single customer accounted for more than 10% of revenue during each of the years ended December 31, 2020, 2019 and 2018. No customers accounted for more than 10% of accounts receivable, net as of December 31, 2020 and 2019, respectively. Business Combinations When the Company acquires a business, the purchase consideration is allocated to the tangible assets acquired, liabilities assumed, and intangible assets acquired based on their estimated respective fair values. The excess of the fair value of purchase consideration over the fair values of these identifiable assets and liabilities is recorded as goodwill. Such valuations require the Company to make significant estimates and assumptions, especially with respect to intangible assets. Significant estimates in valuing certain intangible assets include, but are not limited to, future expected cash flows from acquired users including related attrition rates, acquired developed technology including the estimated obsolescence of the technology, and trade names from a market participant perspective, future expected cash flows for operating expenses, useful lives and discount rates. The Company’s estimates of fair value are based upon assumptions believed to be reasonable, but which are inherently uncertain and unpredictable and, as a result, actual results may differ from estimates. During the measurement period, which is one year from the acquisition date, the Company may record adjustments to the assets acquired and liabilities assumed, with the corresponding offset to goodwill. Upon the conclusion of the measurement period, any subsequent adjustments are recorded to non-operating (income) expense in the consolidated statements of operations. Impairment of Long-Lived Assets Long-lived assets with finite lives include property and equipment, capitalized internal-use software and acquisition intangible assets. Long-lived assets are depreciated or amortized over their estimated useful lives which are as follows:
Computer equipment
2 to 5 years
Furniture, fixtures, and other assets
5 years
Leasehold improvements
Shorter of remaining lease term or 5 years
Purchased software
3 years
Capitalized internal-use software
3 years
Acquisition intangible assets: customer relationships
3 to 7 years
Acquisition intangible assets: trade name
5 to 10 years
Acquisition intangible assets: developed technology
3 to 8 years The Company continually evaluates whether events and circumstances have occurred that indicate the remaining estimated useful life of depreciable or amortizable long-lived assets may warrant revision or that the remaining balance may not be recoverable. When factors indicate that long-lived assets should be evaluated for possible impairment, the Company uses an estimate of the related undiscounted future cash flows over the remaining life of the long-lived assets in measuring whether they are recoverable. If the estimated undiscounted future cash flows do not exceed the carrying value of the asset, a loss is recorded as the excess of the asset’s carrying value over its fair value. The Company did not recognize any impairment of long-lived assets during the years ended December 31, 2020 and 2019. During the year ended December 31, 2018, the Company impaired $2.8 million of leasehold improvements which was included in the restructuring line in the consolidated statement of operations. The Company believes that the carrying values of long-lived assets as of December 31, 2020 are recoverable. Goodwill is not amortized but rather tested for impairment at least annually, or more frequently if events or changes in circumstances indicate that goodwill may be impaired. Goodwill impairment is recognized when the carrying value of goodwill exceeds the implied fair value of the Company. The Company did not recognize any impairment of goodwill during each of the years ended December 31, 2020, 2019 and 2018. Foreign Currencies Where the functional currency of the Company’s foreign subsidiaries is the U.S. dollar, monetary assets and liabilities are remeasured using foreign currency exchange rates at the end of the period, and non-monetary assets are remeasured based on historical exchange rates. Gains and losses due to foreign currency are the result of either the remeasurement of subsidiary balances or transactions denominated in currencies other than the foreign subsidiaries’ functional currency and are included in other non-operating (income) expense, net in the consolidated statements of operations. Where the functional currency of the Company’s foreign subsidiaries is the local currency, the assets and liabilities of those foreign subsidiaries are translated from their respective functional currencies into U.S. dollars at the rates in effect at the balance sheet date and revenue and expense amounts are translated at a rate approximating the average exchange rate for the period. Foreign currency translation gains and losses are recorded to accumulated other comprehensive income (loss). Fair Value of Financial Instruments The Company applies the provisions of ASC 820, Fair Value Measurement Securities are classified as available for sale and are carried at fair value, with the change in unrealized gains and losses, net of tax, reported as a separate component on the consolidated statements of comprehensive income until realized. See Note 6 for additional disclosures regarding fair value measurements. Private Company Investment The Company accounts for one private company investment, without readily determinable fair value, under the cost method. This investment, for which the Company is not able to exercise significant influence over the investee, is measured and accounted for using an alternative measurement basis of a) the security’s carrying value at cost, b) less any impairment and c) plus or minus any qualifying observable price changes. Observable price changes or impairments recognized on the Company’s private company investment would be classified as a Level 3 financial instrument within the fair value hierarchy based on the nature of the fair value inputs. The Company classifies the private company investment as an other asset on the consolidated balance sheets as this investment does not have a stated contractual maturity date. Any adjustments to the carrying value are recognized in other non-operating (income) expense, net in the consolidated statements of operations. As of December 31, 2020 and 2019, respectively, the carrying value of the Company’s private company investment at cost was $3.6 million. There were no impairments or observable price changes for the Company’s private company investment during the years ended December 31, 2020, 2019 and 2018, respectively. Impairment of Investments The Company periodically reviews its investments for impairment. If the Company concludes that any of these investments are impaired, the Company determines whether such impairment is other-than-temporary. Factors considered to make such determination include the duration and severity of the impairment, the reason for the decline in value and the potential recovery period and the Company’s intent to sell. For debt securities, the Company also considers whether (1) it is more likely than not that the Company will be required to sell the security before recovery of its amortized cost basis, and (2) the amortized cost basis cannot be recovered as a result of credit losses. If the investment is considered to be other-than-temporarily impaired, the Company will record the investment at fair value by recognizing an impairment within other non-operating (income) expense in the consolidated statements of operations and establishing a new carrying value for the investment. Property and Equipment Property and equipment are recorded at cost and depreciated using the straight-line method over the estimated useful lives of the assets. Expenditures that improve an asset or extend its estimated useful life are capitalized. Costs of maintenance and repairs that do not improve or extend the lives of the respective assets are expensed as incurred. Capitalized Internal-Use Software The Company incurs development costs relating to its online platform as well as other software solely for internal-use. Costs relating to the planning and post‑implementation phases of development are expensed as incurred. Costs incurred in the application development phase are capitalized and included in capitalized internal-use software, net and amortized over their estimated useful life, generally three years. Maintenance and training costs are expensed as incurred. Leases At contract inception, the Company performs an evaluation to determine if it is conveyed the right to control the use of identified property, plant or equipment. To the extent such rights of control are conveyed, the Company further makes an assessment as to the applicable lease classification. The Company leases facilities, datacenters and equipment, which are generally accounted for as operating leases (as further described in Note 10). On January 1, 2019, the Company adopted ASC 842 which required companies to recognize operating and financing lease liabilities and corresponding ROU assets on the balance sheet through the use of the modified retrospective transition method which allowed for recognition of the cumulative-effect adjustments at the beginning of the adoption period. The adoption of ASC 842 resulted in the recognition of ROU assets of $63.1 million and operating lease liabilities of $92.8 million at the adoption date. For the year ended December 31, 2018, the Company’s consolidated statement of operations are presented pursuant to ASC 840. Operating Leases Operating leases are included in operating lease right-of-use (“ROU”) assets, operating lease liabilities, current, and operating lease liabilities, non-current, in the consolidated balance sheet. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating ROU assets and lease liabilities are recognized at the lease inception date based on the present value of lease payments over the lease term discounted based on the more readily determinable of (i) the rate implicit in the lease or (ii) the Company’s incremental borrowing rate (which is the estimated rate the Company would be required to pay for a collateralized borrowing equal to the total lease payments over the term of the lease). Because the Company’s operating leases generally do not provide an implicit rate, an analysis of publicly traded debt securities of companies with credit and financial profiles similar to the Company’s is used to estimate the incremental borrowing rate. The Company’s operating lease terms have generally ranged between 1 year to 12 years and may include options to extend the lease term, generally at market rates. The Company’s ROU assets are measured based on the corresponding operating lease liability adjusted for (i) payments made to the lessor at or before the commencement date, (ii) initial direct costs incurred and (iii) tenant incentives under the lease. The Company does not assume renewals or early terminations unless it is reasonably certain to exercise these options at commencement. The Company does not allocate consideration between lease and non-lease components. Lease expense is recognized on a straight-line basis over the lease term. For short-term leases, the Company records lease expense in its consolidated statements of operations on a straight-line basis over the lease term and records variable lease payments as incurred. Subleases The Company additionally had entered into subleases for unoccupied leased office space. To the extent there were losses associated with the sublease, they were recognized in the period the sublease is executed. Gains are recognized over the sublease term. Any sublease payments received in excess of the straight-line rent payments for the sublease are recorded in other non-operating (income) expense. The Company’s sublease agreements do not contain any variable payments, material residual value guarantees or material restrictive covenants. Legal and Other Contingencies The Company accrues a liability for either claims arising in the ordinary course of business, assessments resulting from non-income-based audits or litigation when it is probable that a loss has been incurred and the amount is reasonably estimable, the determination of which requires significant judgment. See Note 11 for additional information pertaining to legal and other contingencies. Liability for Sabbatical Leave The Company provides an employee sabbatical leave program accounted for in accordance with ASC 710, Compensated Absences Advertising and Promotion Costs Expenses related to advertising, marketing and promotion of the Company’s product offerings are expensed as incurred. These costs mainly consist of search engine marketing related costs. The Company incurred $44.6 million, $30.3 million and $25.7 million during the years ended December 31, 2020, 2019 and 2018, respectively, which are included in sales and marketing expenses in the consolidated statements of operations. Restructuring The Company accounts for restructuring activities in accordance with ASC 420, Exit or Disposal Cost Obligations. In November 2017, the Company implemented a restructuring plan (“November 2017 Plan”) to reduce its sales and marketing headcount and centralize its sales function in its San Mateo, CA headquarters. During the year ended December 31, 2018, the Company recognized $ 3.5 million of restructuring costs under the November 2017 Plan which consisted of and impairment charge of $ 2.8 million on property and equipment, and $ 0.7 million of lease termination costs and employee severance. During the year ended December 31, 2019, t he Company reversed $ 0.1 million of employee severance costs and actions pursuant to the November 2017 Plan were completed . Other Non-Operating (Income) Expense Other non-operating (income) expense, net consists primarily of interest income, net foreign currency exchange (gains) losses, gain on sale of private company investments, net realized gains and losses related to investments, loss on debt modification/extinguishment, and other. The components of other non-operating (income) expense recognized in the consolidated financial statements is as follows:
Year Ended December 31,
(in thousands)
2020
2019
2018
Interest Income
$
(780
)
$
(3,030
)
$
(1,161
)
Foreign currency (gains) losses, net
225
399
1,460
Gain on sale of a private company investment
(1,001
)
(1,001
)
(999
)
Loss on debt modification / extinguishment


941
Other (income) expense, net
120
(330
)
57
Other non-operating (income) expense, net
$
(1,436
)
$
(3,962
)
$
298
In January 2017, the Company sold a private company investment of approximately $5.0 million that was accounted for using the cost method of accounting for consideration of $11.7 million. The Company recognized an initial gain upon sale of $6.8 million during the year ended December 31, 2017. Additionally, the Company was entitled to receive contingent consideration to be received over three years following the close of the transaction, subject to the private company meeting certain employee retention and financial targets. Subsequent earn-out amounts collected were recorded as a gain when cash was received. In each of the years ended December 31, 2020, 2019 and 2018, the Company received its share of the first, second and final installments of the earn-out payments of $1.0 million, which was recognized as a gain on sale of a private company investment. Income Taxes The Company accounts for income taxes using the asset and liability method. ASC 740, Accounting for Income Taxes, Valuation allowances are established when necessary to reduce the deferred tax assets when it is more likely than not that a portion or all of the deferred tax assets will not be realized. ASC 740 prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken on a tax return and provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. The Company records uncertain tax positions on the basis of a two-step process in which: (1) the Company determines whether it is more likely than not that the tax positions will be sustained on the basis of technical merits of the position, and (2) for those tax positions that meet the more likely than not recognition threshold, the Company recognizes the tax benefit as the largest amount that is cumulatively more than 50% likely to be realized upon ultimate settlement with the related tax authority. From time to time, the Company engages in certain intercompany transactions and legal entity restructurings. The Company considers many factors when evaluating these transactions, including the alignment of their corporate structure with their organizational objectives and the operational and tax efficiency of their corporate structure, as well as the long-term cash flows and cash needs of its business. These transactions may impact the Company’s overall tax rate and/or result in additional cash tax payments. The impact in any period may be significant. These transactions may be complex and the impact of such transactions on future periods may be difficult to estimate. Accounting Pronouncements Recently Adopted Credit Losses : In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses ("ASU 2016-13"). ASU 2016-13 replaces the incurred loss impairment methodology in the current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. For trade receivables and other financial instruments, the Company will be required to use a forward-looking expected loss model rather than the incurred loss model for recognizing credit losses which reflects losses that are probable. ASU 2016-13 is effective for public companies with fiscal years beginning after December 15, 2019, with early adoption permitted. Application of the amendments is through a cumulative-effect adjustment to retained earnings as of the effective date. The Company adopted ASU 2016-13, including applicable amendments in other ASUs issued subsequent to ASU 2016-13, with no material impact upon adoption. Income Taxes : In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes ("ASU 2019-12"). ASU 2019-12 simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. ASU 2019-12 also improves consistent application and simplifies other areas of Topic 740 by clarifying and amending existing guidance. Early adoption is permitted, provided that the Company reflects any adjustments as of the beginning of the annual period that includes the interim period for which such early adoption occurs. Additionally, the Company must adopt all the amendments in the same period if early adoption is elected. ASU 2019-12 is effective for public companies with fiscal years beginning after December 15, 2020, unless early adopted. The Company adopted the provisions of ASU 2019-12 on January 1, 2021, with no material impact on its consolidated financial statements and related disclosures. Accounting Pronouncements Not Yet Adopted Reference Rate Reform : In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting . ASU 2020-04 is intended to provide temporary optional expedients and exceptions to the GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from the London Interbank Offered Rate (LIBOR) and other interbank offered rates to alternative reference rates. This guidance is effective beginning on March 12, 2020, and the Company may elect to apply the amendments prospectively through December 31, 2022. The Company does not expect this update will have a material impact on its consolidated financial statements and related disclosures.

Revenue and Deferred Revenue

Revenue and Deferred Revenue12 Months Ended
Dec. 31, 2020
Revenue From Contract With Customer [Abstract]
Revenue and Deferred Revenue3. Revenue and Deferred Revenue Disaggregated revenue Revenue by sales channel was as follows:
Year Ended December 31,
(in thousands)
2020
2019
2018
Self-serve revenue
$
267,703
$
241,986
$
220,822
Enterprise revenue
107,907
65,435
33,502
Revenue
$
375,610
$
307,421
$
254,324
Self-serve revenues are generated from products purchased independently through our website. Enterprise revenues are generated from products sold to organizations through our sales team. In addition, see Note 4 for information regarding the Company’s revenue by geographic area. Deferred revenue The Company recognized into revenue $137.6 million, $101.1 million and $83.3 million during the years ended December 31, 2020, 2019 and 2018, respectively, that was included in the deferred revenue balances at the beginning of each respective period. Transaction price allocated to the remaining performance obligations As of December 31, 2020, future estimated revenue related to non-cancelable performance obligations that are unsatisfied or partially unsatisfied at the end of the reporting period was $187.9 million. The substantial majority of the unsatisfied performance obligations will be satisfied over the next twelve months.

Geographical Information

Geographical Information12 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]
Geographical Information4. Geographical Information Revenue by geography is generally based on the billing address of the customer. For purposes of its geographic revenue disclosure, the Company defines a customer as an organization. An organization may consist of an individual paying user, multiple paying users within an organization or the organization itself. The following table sets forth the percentage of revenue by geographic area:
Year Ended December 31,
2020
2019
2018
United States
65
%
65
%
64
%
Rest of world
35
%
35
%
36
% No other country outside of the United States comprised 10% or greater of the Company’s revenue for each of the years ended December 31, 2020, 2019 and 2018. As of December 31, 2020 and 2019, the following table summarizes the percentage of the Company’s long-lived assets by geographic area:
Property and equipment, net
Operating lease ROU assets
Acquisition intangibles, net
December 31, 2020
December 31, 2019
December 31, 2020
December 31, 2019
December 31, 2020
December 31, 2019
United States
79
%
83
%
92
%
92
%
46
%
64
%
Canada
18
%
13
%
2
%
2
%
*
*
Ireland
*
*
3
%
3
%
21
%
2
%
Netherlands
3
%
2
%
3
%
3
%
32
%
32
%
Rest of world
*
2
%
*
*
1
%
2
%
*
less than 1%

Cash and Cash Equivalents

Cash and Cash Equivalents12 Months Ended
Dec. 31, 2020
Cash And Cash Equivalents [Abstract]
Cash and Cash Equivalents5. Cash and Cash Equivalents As of December 31, 2020 and 2019, the following table provides a reconciliation of the amount of cash, cash equivalents, and restricted cash reported within the consolidated balance sheets to the total of the same such amounts shown in the consolidated statements of cash flows:
(in thousands)
December 31, 2020
December 31, 2019
Cash and cash equivalents
$
224,390
$
131,035
Restricted cash included in prepaid expenses and other current assets
224
578
Restricted cash included in other assets

70
Total cash, cash equivalents and restricted cash
$
224,614
$
131,683
Included in cash and cash equivalents are cash in transit from payment processors for credit and debit card transactions of $1.6 million and $1.6 million as of December 31, 2020 and 2019, respectively.

Fair Value Measurements

Fair Value Measurements12 Months Ended
Dec. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements6. Fair Value Measurements Assets and liabilities recorded at fair value in the consolidated financial statements are categorized based on the level of judgment associated with the inputs used to measure their fair value. Hierarchical levels which directly relate to the amount of subjectivity associated with the inputs to the valuation of these assets or liabilities are as follows: Level 1 – Observable inputs, such as quoted prices in active markets for identical assets or liabilities. Level 2 – Observable inputs, other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The carrying amounts of the Company’s financial instruments, which generally include cash equivalents, accounts receivable and accounts payable, approximate their fair values due to their short maturities. Based on borrowing rates currently available to the Company for debt with similar terms and consideration of default and credit risk, the fair value of the Company’s debt was approximately $214.5 million as of December 31, 2020 and was approximate to its carrying value as of December 31, 2019. As of December 31, 2020 and 2019, respectively, the Company did not have any financial instruments accounted for pursuant to ASC 820.

Property and Equipment

Property and Equipment12 Months Ended
Dec. 31, 2020
Property Plant And Equipment [Abstract]
Property and Equipment7. Property and Equipment As of December 31, 2020 and 2019, property and equipment consisted of the following:
(in thousands)
December 31, 2020
December 31, 2019
Computer equipment
$
15,770
$
23,155
Leasehold improvements
54,079
55,224
Furniture, fixtures, and other assets
10,944
11,411
Gross property and equipment
80,793
89,790
Less: Accumulated depreciation
(61,869
)
(54,718
)
Property and equipment, net
$
18,924
$
35,072
Depreciation expense was $16.2 million, $17.5 million and $19.5 million, during the years ended December 31, 2020, 2019 and 2018, respectively.

Acquisitions, Intangible Assets

Acquisitions, Intangible Assets and Goodwill12 Months Ended
Dec. 31, 2020
Acquisitions Intangible Assets And Goodwill [Abstract]
Acquisitions, Intangible Assets and Goodwill8. Acquisitions, Intangible Assets and Goodwill GetFeedback Acquisition On September 3, 2019, the Company acquired 100% of the outstanding shares of GFB Holdings, Inc. (“GetFeedback”), including its wholly-owned subsidiary GetFeedback, Inc., a customer experience management company that offers purpose-built solutions to its customers and understands and improves customer experience through the creation of customized branded surveys. The Company paid approximately $68.3 million for the acquisition, which consisted of (i) cash consideration of approximately $61.5 million (net of cash acquired of approximately $0.7 million) and (ii) 376,333 shares of the Company’s common stock with a fair value of $16.24 per share on the acquisition date. Based on their estimated fair values, the Company recorded $3.3 million of net tangible liabilities, $17.7 million of identifiable intangible assets (primarily customer relationships and developed technology) and $53.9 million of goodwill. Usabilla Acquisition On , the Company acquired % of the outstanding shares of Usabilla Holding B.V. (“Usabilla”), a voice of customer technology company headquartered in the Netherlands that offers its customers products to help improve their customers’ online experience by generating and processing user feedback via targeted surveys on websites, in mobile apps and by email. The Company paid approximately $84.3 million for the acquisition, which consisted of (i) cash consideration of approximately $53.1 million (net of cash acquired of approximately $1.1 million) and (ii) 1,644,413 shares of the Company’s common stock with a fair value of $18.30 per share on the acquisition date. Additional consideration of 299,798 shares of the Company’s common stock was issued to certain employees of Usabilla and was not included in the purchase price. This additional consideration will be recognized as post-acquisition compensation expense over the related requisite service period of three years. Based on their estimated fair values, the Company recorded $ Other Acquisitions Information Pro forma results of operations for these acquisitions have not been presented because they are not material to the consolidated results of operations, either individually or in the aggregate. The measurement period for the valuation of assets acquired and liabilities assumed ends as soon as information on the facts and circumstances that existed as of the applicable acquisition date becomes available but does not exceed 12 months from the acquisition date. The measurement periods have closed for the acquisitions of Usabilla and GetFeedback as of December 31, 2020. The Company has incurred incremental expenses related to the above acquisitions of $1.7 million, which are included in general and administrative expenses in the consolidated statements of operations for the year December 31, 2019. Balance Sheet Details Acquisition intangible assets, net As of December 31, 2020 and 2019, intangible assets, net consisted of the following:
December 31, 2020
December 31, 2019
(in thousands)
Gross Carrying Amount
Accumulated Amortization
Net Carrying Amount
Gross Carrying Amount
Accumulated Amortization
Net Carrying Amount
Customer relationships
$
23,804
$
(12,448
)
$
11,356
$
25,594
$
(9,712
)
$
15,882
Trade name
2,824
(1,285
)
1,539
2,711
(763
)
1,948
Developed technology
20,881
(12,569
)
8,312
27,547
(12,227
)
15,320
Acquisition intangible assets, net
$
47,509
$
(26,302
)
$
21,207
$
55,852
$
(22,702
)
$
33,150
Amortization expense was $12.6 million, $9.0 million and $4.3 million during the years ended December 31, 2020, 2019 and 2018, respectively. The decrease in gross acquisition intangible assets is due to the removal of $9.7 million of fully amortized acquisition intangible assets during the fourth quarter of 2020. Goodwill The changes in the carrying amount of goodwill were as follows (in thousands):
Balance as of December 31, 2018
$
336,861
Additions
125,981
Foreign currency translation
85
Balance as of December 31, 2019
462,927
Foreign currency translation
5,837
Balance as of December 31, 2020
$
468,764
Capitalized internal-use software As of December 31, 2020 and 2019, capitalized internal-use software consisted of the following:
(in thousands)
December 31, 2020
December 31, 2019
Gross capitalized internal-use software
$
50,833
$
61,130
Less: Accumulated amortization
(21,371
)
(27,974
)
Capitalized internal-use software, net
$
29,462
$
33,156
Amortization expense related to capitalized internal-use software was $14.2 million, $15.6 million and $21.7 million during the years ended December 31, 2020, 2019 and 2018, respectively, and is included in cost of revenue in the consolidated statements of operations. The decrease in gross capitalized internal-use software is due to the removal of $20.8 million of fully amortized capitalized internal-use software during the fourth quarter of 2020, offset by current year additions. Future amortization expense As of December 31, 2020, future amortization expense by year is expected to be as follows:
(in thousands)
Capitalized internal-use software, net
Acquisition intangible assets, net
2021
$
10,950
$
10,299
2022
6,963
5,121
2023
1,584
1,928
2024

1,670
2025

1,389
Thereafter

800
Total amortization expense
$
19,497
$
21,207
Future capitalized internal-use software amortization excludes $10.0 million of costs which are currently in the development phase.

Stockholders' Equity and Employ

Stockholders' Equity and Employee Benefit Plans12 Months Ended
Dec. 31, 2020
Stockholders Equity And Employee Benefit Plans [Abstract]
Stockholders Equity and Employee Benefit Plans9. Stockholders’ Equity and Employee Benefit Plans Common stock and preferred stock Pursuant to the Company’s Fourth Amended and Restated Certificate of Incorporation, the Company stockholders authorized the issuance of up to 900,000,000 shares, consisting of 800,000,000 shares of common stock at par value of $0.00001 per share and 100,000,000 shares of preferred stock at par value $0.00001 per share. During the year ended December 31, 2018, the Company repurchased approximately $16,000 of common stock (1,159 shares) at a price of $13.65 per share, which was approximately the fair value of common stock at such time. Equity Incentive Plans The Company sponsors the 2018 Equity Incentive Plan (the “2018 Plan”), which was approved by stockholders on September 5, 2018. Under the 2018 Plan, the Board or a committee of the Board, may grant incentive and nonqualified stock options, stock appreciation rights, restricted or unrestricted stock awards, restricted stock units (“RSUs”), phantom stock, performance awards or other stock-based awards to employees, directors and other individuals providing services to the Company. The purpose of the 2018 Plan is to promote the long-term growth and profitability of the Company by (i) providing employees with incentives to improve stockholder value and to contribute to the growth and financial success of the Company through their future services, and (ii) enabling the Company to attract, retain and reward the best-available persons. The options granted under the 2018 Plan, may be granted at a price not less than the fair market value on the grant date. The Board, or a committee of the Board, has granted options with an exercise price at or which approximates the fair value on the grant date. Grants of time-based awards generally vest over a four-year three-year The 2018 Plan provides for annual increases in the number of shares available for issuance on the first day of each year equal to the lesser of (i) 12,500,000 shares, (ii) 5% of the outstanding shares on the last date of the preceding year, and (iii) a lower amount determined by the plan administrator. As of December 31, 2020, 14,226,273 shares of common stock remain available for grant under the 2018 Plan. The following is a summary of restricted stock units activity for the year ended December 31, 2020:
Restricted Stock Units
Number of Shares
Weighted Average Grant-Date Fair Value
Weighted Average Remaining Contractual Term (in years)
Unvested at December 31, 2019
6,975,994
$
14.72
2.2
Granted
5,091,244
$
19.43
Vested
(4,115,357
)
$
15.07
Forfeited/cancelled
(951,026
)
$
16.25
Unvested at December 31, 2020
7,000,855
$
17.72
1.1
The following is a summary of stock options activity for the year ended December 31, 2020:
Stock Options
Number of Shares
Weighted Average Exercise Price
Aggregate Intrinsic Value (in thousands)
Weighted Average Remaining Contractual Term (in years)
Outstanding at December 31, 2019
15,812,928
$
14.67
$
50,994
7.4
Granted
2,649,800
$
21.46
Exercised
(3,088,076
)
$
13.66
Forfeited
(244,623
)
$
14.42
Expired
(29,887
)
$
14.74
Outstanding, vested and expected to vest at December 31, 2020
15,100,142
$
16.07
$
143,156
6.9
Vested and exercisable at December 31, 2020
10,428,449
$
15.38
$
106,006
6.2
The following is a summary of restricted stock awards activity for the year ended December 31, 2020:
Restricted Stock Awards
Number of Shares
Weighted Average Grant-Date Fair Value
Weighted Average Remaining Contractual Term (in years)
Unvested at December 31, 2019
299,798
$
18.30
2.3
Vested
(197,338
)
$
18.30
Unvested at December 31, 2020
102,460
$
18.30
1.2
Fair Value of Stock Options The Company used the Black-Scholes-Merton option pricing model to estimate the fair value of stock options granted using the following weighted-average assumptions:
Year Ended December 31,
2020
2019
2018
Expected life (in years)
5.8
5.9
5.8
Risk-free interest rate
1.2%
2.2%
2.8%
Volatility
49%
46%
48%
Dividend yield
—%
—%
—%
Fair value of common stock
$21.46
$14.17
$13.31 2018 Employee Stock Purchase Plan, As Amended The Company sponsors the 2018 Employee Stock Purchase Plan, as amended (the “ESPP”), which was first approved by stockholders on September 5, 2018. The ESPP provides for annual increases in the number of shares available for issuance on the first day of each year equal to the lesser of (i) 5,346,888 shares, (ii) 1% of the outstanding shares on the last date of the preceding year, and (iii) a lower amount determined by the plan administrator. The ESPP provides for 24-month offering periods beginning May 22 and November 22 of each year, and each offering period will consist of four six-month During the year ended December 31, 2020, the Company’s employees purchased 562,903 shares of its common stock under the ESPP at a weighted average purchase price of $11.94 with proceeds of $6.7 million. During the year ended December 31, 2019, the Company’s employees purchased 505,546 shares of its common stock under the ESPP at a weighted average purchase price of $10.57 with proceeds of $5.3 million. The Company used the Black-Scholes-Merton option pricing model to estimate the fair value of ESPP purchase rights granted using the following weighted-average assumptions:
Year Ended December 31,
2020
2019
2018
Expected life (in years)
1.3
1.2
1.3
Risk-free interest rate
0.1%
1.9%
2.7%
Volatility
56%
42%
39%
Dividend yield
—%
—%
—%
Fair value of common stock
$20.42
$17.00
$12.89 Stock-Based Compensation Expense Stock-based compensation expense recognized in the consolidated financial statements is as follows:
Year Ended December 31,
(in thousands)
2020
2019
2018
Cost of revenue
$
4,450
$
3,658
$
8,931
Research and development
30,693
21,159
48,739
Sales and marketing
19,707
11,950
19,046
General and administrative
24,317
23,478
55,054
Stock-based compensation expense, net of amounts capitalized
79,167
60,245
131,770
Capitalized stock-based compensation expense
2,243
3,503
2,609
Stock-based compensation expense
$
81,410
$
63,748
$
134,379
As of December 31, 2020, unamortized stock-based compensation was as follows:
Unrecognized stock-based compensation (in thousands)
Weighted average vesting period (in years)
Restricted stock units (service-based)
$
108,731
2.4
Restricted stock units (performance-based)
932
0.8
Stock options
34,736
2.1
Restricted stock awards
1,560
1.2
ESPP
6,100
1.7
Total unrecognized stock-based compensation
$
152,059
401(k) Plan In the United States, the Company offers its employees a defined contribution plan that qualifies as a deferred salary arrangement under Section 401 of the U.S. Internal Revenue Code (“401(k) Plan”). Under the 401(k) Plan, participating employees may defer a portion of their pretax earnings not to exceed the maximum amount allowed by the Internal Revenue Service. The Company currently provides a matching contribution of 25% of deferrals for eligible employees. Compensation expense for the Company's matching contributions was $4.2 million, $3.0 million and $2.3 million during the years ended December 31, 2020, 2019 and 2018, respectively.

Leases

Leases12 Months Ended
Dec. 31, 2020
Leases [Abstract]
Leases10. Leases The Company leases certain equipment and facilities under operating leases which expire at various dates through 2028. The Company’s operating lease costs were as follows:
Year Ended December 31,
(in thousands)
2020
2019
Operating lease cost (gross lease expense)
$
13,377
$
12,773
Variable lease costs
5,636
6,630
Sublease income (including reimbursed expenses)
5,303
7,527
During the years ended December 31, 2020 and 2019, the Company’s short-term lease costs were nominal. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The weighted average remaining operating lease term was 7.6 years and 8.4 years as of December 31, 2020 and 2019, respectively. The weighted average discount rate used to estimate operating lease liabilities was 7.5% and 7.4% as of December 31, 2020 and 2019, respectively. As of December 31, 2020, maturities of operating lease liabilities and sublease income, by year are as follows:
(in thousands)
Operating Lease Payments
Sublease Income
2021
$
14,234
$
(4,087
)
2022
14,099
(1,481
)
2023
13,587
(1,101
)
2024
13,287

2025
13,531

Thereafter
42,300

Gross lease payments (income)
$
111,038
$
(6,669
)
Less: Imputed interest
27,789
Less: Tenant improvement receivables
444
Total operating lease liabilities
$
82,805

Commitments and Contingencies

Commitments and Contingencies12 Months Ended
Dec. 31, 2020
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies11. Commitments and Contingencies Non-Cancellable Purchase Commitments The Company enters into commitments under non-cancellable purchase orders for the procurement of goods and services in the ordinary course of business. As of December 31, 2020, expected payments under such commitments are as follows (in thousands):
2021
$
11,165
2022
8,738
2023
6,202
2024
2,115
2025

Thereafter

Total purchase commitments
$
28,220
Letters of Credit The Company has a standby letter of credit for $2.5 million which is issued in connection with the San Mateo facility. Legal Matters From time to time, the Company is subject to legal proceedings, claims and litigation arising in the ordinary course of business, which may include, but are not limited to, patent and privacy matters, labor and employment claims, class action lawsuits, as well as inquiries, investigations, audits and other regulatory proceedings. Periodically, the Company evaluates developments in its legal matters and records a liability when it believes that it is both probable that a loss has been incurred and the amount can be reasonably estimated. Significant judgment is required to determine both the likelihood of there being, and the estimated amount of, a loss related to such matters, and the Company's judgment may be incorrect. There are currently no legal matters or claims that have arisen from the normal course of business that the Company believes would have a material impact on the Company’s financial position, results of operations or cash flows. Warranties and Indemnification The Company’s subscription services are generally warranted to perform materially in accordance with the Company’s online help documentation under normal use and circumstances. Additionally, the Company’s arrangements generally include provisions for indemnifying customers against liabilities if its subscription services infringe a third party’s intellectual property rights. Furthermore, the Company may also incur liabilities if it breaches the security or confidentiality obligations in its arrangements. To date, the Company has not incurred significant costs and has not accrued a liability in the accompanying consolidated financial statements as a result of these obligations.

Debt

Debt12 Months Ended
Dec. 31, 2020
Debt Disclosure [Abstract]
Debt12. Debt As of December 31, 2020 and 2019, the carrying values of debt were as follows:
December 31, 2020
December 31, 2019
Issuance date
Maturity date
Amount (in thousands)
Effective Interest Rate
Amount (in thousands)
Effective Interest Rate
2018 Refinancing Facility Agreement
October 2018
October 2025
$
215,050
3.9% - 5.4%
$
217,250
5.3% - 6.3%
Less: Unamortized issuance discount and issuance costs, net
1,434
1,734
Less: Debt, current
1,900
1,900
Debt, non-current
$
211,716
$
213,616
In October 2018, the Company entered into a Refinancing Facility Agreement (“2018 Credit Facility”), comprising a $220.0 million term loan (the “Term Loan”) and $75.0 million revolving credit facility. Loans under the 2018 Credit Facility accrue interest based upon, at the Company’s option, either at an alternate base interest rate (“ABR”) or a Eurocurrency rate, in each case plus an applicable margin. The applicable margin for the Term Loan is 2.75% in the case of a ABR loan and 3.75% in the case of a Eurocurrency loan, and the applicable margin for the revolving loan ranges from 0.75% to 1.50% in the case of a ABR loan and 1.75% to 2.50% in the case of a Eurocurrency loan, and is based on the Company’s leverage ratio. The Company will make quarterly principal payments of $550,000 on the Term Loan with any remaining principal amounts due on October 10, 2025. The principal amount on the revolving credit facility is due and all revolver commitments terminate on October 10, 2023. The Company records debt discounts and issuance costs as a reduction to the associated current and long-term portions of the debt in the consolidated balance sheets. The Company records debt discounts and issuance costs as a deferred asset when there is no associated debt liability. As of December 31, 2020, unamortized issuance discount and issuance costs of $0.4 million were included in prepaid expenses and other current assets and $0.7 million were included in other assets. As of December 31, 2019, unamortized issuance discount and issuance costs of $0.4 million were included in prepaid expenses and other current assets and $1.0 million were included in other assets. The Company amortizes these costs using the straight-line method which approximates the effective interest rate method over the life of the loan. The amounts amortized are included in interest expense in the accompanying consolidated statements of operations. As of December 31, 2020, the Company has $70.0 million of borrowing available under the line of credit portion of the 2018 Credit Facility. The Company’s obligations under the 2018 Credit Facility are guaranteed by certain of its subsidiaries and secured by liens on substantially all of the assets of the Company and such subsidiaries. The 2018 Credit Facility contains financial, affirmative and negative covenants that, if violated, may require the Company to pay down the loans earlier than the stated maturity dates with higher interest rates. As of December 31, 2020, the Company was compliant with all of its debt covenant requirements in the 2018 Credit Facility. The Company believes that it will continue to comply with the terms of the loan agreements through the stated maturity dates. However, if the Company’s projections do not materialize, the Company may require additional equity or debt financing. There can be no assurance that additional financing, if required, will be available on terms satisfactory to the Company. Principal and interest payments are due quarterly. As of December 31, 2020, future minimum payment obligations of principal amounts due by year under the 2018 Credit Facility were as follows (in thousands):
2021
$
2,200
2022
2,200
2023
2,200
2024
2,200
2025
2,200
Thereafter
204,050
Total principal outstanding
$
215,050

Income Taxes

Income Taxes12 Months Ended
Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes13. Income Taxes Loss from operations before income taxes is categorized geographically as follows:
Year Ended December 31,
(in thousands)
2020
2019
2018
United States
$
(46,409
)
$
(81,653
)
$
(152,045
)
Foreign
(43,993
)
5,015
(2,547
)
Total loss from operations before income taxes
$
(90,402
)
$
(76,638
)
$
(154,592
) The provision for (benefit from) income taxes consisted of the following:
Year Ended December 31,
(in thousands)
2020
2019
2018
Current income tax expense:
Federal
$

$
14
$
(70
)
State
28
10
48
Foreign
337
873
677
Total current income tax expense
365
897
655
Deferred income tax expense:
Federal
324
(1,087
)
(483
)
State
3
121
562
Foreign
487
(2,710
)
(586
)
Total deferred income tax expense (benefit)
814
(3,676
)
(507
)
Total provision for (benefit from) income taxes
$
1,179
$
(2,779
)
$
148
A reconciliation of the Company’s effective tax rate to the federal statutory rate is as follows:
Year Ended December 31,
(in thousands)
2020
2019
2018
Tax at federal statutory rate
$
(18,984
)
$
(16,094
)
$
(32,464
)
State income tax, net of federal tax benefit
(4,468
)
(4,102
)
(6,764
)
Foreign tax rate differential
10,009
(2,651
)
626
Stock-based compensation
(3,429
)
1,885
2,378
Research and development credits
(3,066
)
(2,033
)
(5,247
)
Other
492
805
(106
)
Change in valuation allowance
20,625
19,411
41,725
Total provision for (benefit from) income taxes
$
1,179
$
(2,779
)
$
148
As of December 31, 2020 and 2019, the tax effects of temporary differences that give rise to significant portions of the Company’s deferred tax assets and liabilities are as follows:
(in thousands)
December 31, 2020
December 31, 2019
Deferred tax assets:
Net operating losses
$
77,467
$
66,170
Tax credits
33,753
26,254
Stock-based compensation
20,971
22,299
Accrued compensation and related expenses
3,012
3,513
Lease liabilities
20,475
22,322
Financing related
11,090
9,033
Intangible assets
75,093
72,226
Other
1,474
2,003
Total deferred tax assets:
243,335
223,820
Valuation allowance
(201,814
)
(174,921
)
Total deferred tax assets, net of valuation allowance:
41,521
48,899
Deferred tax liabilities:
Depreciation and amortization
(867
)
(8,708
)
Goodwill
(25,792
)
(23,047
)
Right-of-use assets
(17,565
)
(19,077
)
Total deferred tax liabilities:
(44,224
)
(50,832
)
Total net deferred tax liabilities:
$
(2,703
)
$
(1,933
) As of December 31, 2020, the Company had federal and state net operating losses of $292.1 million and $187.7 million, respectively. Unutilized federal and state net operating loss carryforwards began to expire in 2020. As of December 31, 2020, the Company had federal research and development credits of $22.1 million which will begin to expire in 2032; state research and development credits of $17.0 million which will carryforward indefinitely; and foreign research and development credits of $0.9 million which will begin to expire in 2037. Assessing the realizability of the Company’s deferred tax assets is dependent upon several factors, including the likelihood and amount, if any, of future taxable income in relevant jurisdictions during the periods in which those temporary differences become deductible. The Company has evaluated the criteria for realization of deferred tax assets and, as a result, has determined that certain deferred tax assets are not realizable on a more likely than not basis. Accordingly, the Company recorded a valuation allowance of $201.8 million as of December 31, 2020. The valuation allowance increased by $26.9 million and $93.7 million during the years ended December 31, 2020 and 2019, respectively. Internal Revenue Code Section 382 and similar state provisions limit the use of net operating losses and tax credit carryforwards in certain situations where changes occur in the stock ownership of a company. In the event the Company has a change of ownership, utilization of net operating losses and tax credit carryforwards may be limited. Certain acquired net operating losses and tax credits are subject to limitations. Net operating losses and tax credits have been reduced to reflect the amounts that can be utilized to reduce taxes payable in the future. The Company does not provide deferred taxes on unremitted earnings of its foreign subsidiaries as the Company intends to indefinitely reinvest such earnings. The Company recorded cumulative unrecognized tax benefits pursuant to ASC 740-10 in the amount of $6.9 million, $4.9 million and $3.4 million during the years ended December 31, 2020, 2019 and 2018, respectively. The Company’s policy is to recognize interest and penalties related to unrecognized tax benefits within the provision for income taxes. Amounts accrued for interest and penalties were not significant as of December 31, 2020 and 2019, respectively or during years ended December 31, 2020, 2019 and 2018, respectively. The Company believes that it has provided adequate reserves for its income tax uncertainties in all open tax years. As the outcome of the audits cannot be predicted with certainty, if any issues addressed in the Company's tax audits are resolved in a manner inconsistent with management's expectations, the Company could be required to adjust its provision for income taxes in the period such resolution occurs. On July 27, 2015, in Altera Corp. v. Commissioner, the U.S. Tax Court issued an opinion invalidating the regulations relating to the treatment of stock-based compensation expense in an intercompany cost-sharing arrangement. A final decision was issued by the Tax Court in December 2015. The Internal Revenue Service appealed the Tax Court decision in June 2016. On July 24, 2018, the Ninth Circuit Federal Court issued a decision that was subsequently withdrawn and a reconstituted panel conferred on the appeal. On June 7, 2019, the Ninth Circuit Federal Court panel upheld the cost-sharing regulations. On July 22, 2019, Intel Corporation, which acquired Altera Corp., filed a request for rehearing of the case by the entire Ninth Circuit Federal Court, which was denied on November 11, 2019. On February 10, 2020, Intel Corporation filed a petition with the United States Supreme Court which was denied on June 22, 2020, therefore validating the Ninth Circuit Federal Court decision to uphold the cost sharing regulations. Upon resolution of all appeals, the Company recorded a cumulative reduction to its deferred tax assets related to net operating losses of $9.0 million, offset by a corresponding valuation allowance release. In addition, the Company has commenced including stock-based compensation in its cost share allocation. Due to the full valuation allowance the Company has against its deferred tax assets in the United States and Ireland, the change does not have a material impact to its effective tax rate and income tax expense. Changes in balances during 2020 and 2019 and ending balances as of December 31, 2020 and 2019 in gross unrecognized tax benefits were as follows:
(in thousands)
December 31, 2020
December 31, 2019
Beginning balances
$
4,905
$
3,351
Increases related to tax positions taken during a prior year
352
156
Increases related to tax positions taken during the current year
1,610
1,398
Decreases related to tax positions taken during a prior year


Decreases related to tax settlements with taxing authorities


Ending balances
$
6,867
$
4,905
The Company does not anticipate that the amount of existing unrecognized tax benefits will significantly increase or decrease within the next 12 months. None of the unrecognized tax benefits, if recognized, would affect the effective tax rate. The Company files income tax returns in the U.S. federal, state, and certain foreign jurisdictions. The Company’s U.S federal income tax return years 2015 through 2020 remain open to examination. The Company’s respective state and foreign income tax return years 2013 through 2020 remain open to examination. There are no income tax audits currently in progress.

Net Loss Per Share

Net Loss Per Share12 Months Ended
Dec. 31, 2020
Earnings Per Share [Abstract]
Net Loss Per Share14. Net Loss Per Share Basic earnings per share is computed by dividing net loss by the weighted-average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net loss for the period by the weighted-average number of common shares outstanding during the period which includes potential dilutive common shares assuming the dilutive effect of outstanding stock options, restricted stock units (including those that are performance-based) and restricted stock awards calculated using the treasury stock method. The following table sets forth the computation of basic and diluted earnings per share:
Year Ended December 31,
(in thousands, except per share amounts)
2020
2019
2018
Numerator:
Net loss
$
(91,581
)
$
(73,859
)
$
(154,740
)
Denominator:
Weighted-average shares outstanding - basic and diluted
139,887
131,568
107,900
Net loss per common share - basic and diluted:
$
(0.65
)
$
(0.56
)
$
(1.43
) The Company was in a loss position for the periods presented. Accordingly, basic net loss per share is the same as diluted net loss per share as the inclusion of all potential common shares outstanding would have been anti-dilutive. Prior to application of the treasury stock method, share equivalents (comprising restricted stock units (including those that are performance-based), stock options, restricted stock awards, and shares issuable under the ESPP) excluded from the calculations of diluted net loss per share were 23.0 million, 23.8 million and 25.2 million during the years ended December 31, 2020, 2019 and 2018, respectively.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)12 Months Ended
Dec. 31, 2020
Accounting Policies [Abstract]
Principles of Consolidation and Basis of PresentationPrinciples of Consolidation and Basis of Presentation The accompanying consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and include the results of operations of the Company and its wholly-owned subsidiaries. All significant intercompany transactions have been eliminated. Certain other prior year balances have been reclassified to conform to the current year presentation. Such reclassifications did not affect our results of operations or operating, investing and financing cash flows.
Use of EstimatesUse of Estimates The preparation of consolidated financial statements in conformity with GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and reported amounts of revenue and expenses during the reporting periods covered by the consolidated financial statements and accompanying notes. Actual results could differ materially from those estimates due to a variety of factors, including the unforeseen effects of the COVID-19 pandemic on the Company’s business and financial results. Due to the COVID-19 pandemic, there is ongoing uncertainty and significant disruption in the global economy and financial markets. The Company is not aware of any specific event or circumstances that would require an update to its estimates, judgments or assumptions or a revision to the carrying value of its assets or liabilities as of the date of issuance of its financial statements. These estimates, judgments and assumptions may change in the future, as new events occur or additional information is obtained. The Company bases its estimates on historical experience and on various other assumptions that it believes to be reasonable. The Company’s most significant estimate and use of judgment involves the valuation of acquired goodwill and intangibles from acquisitions.
Segment InformationSegment Information The Company operates as a single
Related Party TransactionsRelated Party Transactions Certain members of the Company’s Board of Directors (“Board”) serve as board members, are executive officers of and/or (in some cases) are investors in companies that are customers and/or vendors of the Company. The Company incurred related party expenses of $4.3 million, $2.2 million and $1.5 million during the years ended December 31, 2020, 2019 and 2018, respectively.
Revenue Recognition and Deferred RevenueRevenue Recognition and Deferred Revenue The Company generates a substantial majority of its revenue from the sale of subscriptions to its software products for survey feedback and customer experience. The revenue the Company generates from its transactional market research solutions services is not significant. The Company normally sells each of these products in separate contracts to its customers and each product is distinct. The Company’s policy is to exclude sales and other indirect taxes when measuring the transaction price of its subscription agreements. The Company accounts for revenue contracts with customers through the following steps:

Identification of the contract, or contracts, with a customer;

Identification of the performance obligations in the contract;

Determination of the transaction price;

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

Recognition of revenue when, or as, the Company satisfies a performance obligation. For subscription products, the Company provides customers the option of monthly, annual or multi-year contractual terms. In general, the Company’s customers elect contractual terms of one year or less. Subscription revenue is recognized on a straight-line basis over the related subscription term beginning on the date the Company provides access. Access to the Company’s subscription product is an obligation representing a series of distinct services (and which comprise a single performance obligation) that the Company provides to its end customer over the subscription term. The Company recognizes its subscription revenue on a straight-line basis because the customer benefits from access to the products throughout the contractual term. The transactional market research solution services are billed in advance and revenue is recognized after the services have been delivered. The Company's contracts are generally non-cancellable and do not contain refund-type provisions and are billed in advance. Amounts that have been invoiced are recorded in accounts receivable and in deferred revenue or revenue, depending on whether transfer of control to customers has occurred or services have been delivered. The Company records contract liabilities to deferred revenue when cash payments are received or due. Deferred revenue consists of the unearned portion of customer billings.
Cost of RevenueCost of Revenue Cost of revenue associated with the delivery of the Company’s online platform to its users generally consists of infrastructure costs, personnel costs and other related costs. Infrastructure costs generally include expenses related to the operation of the Company’s data centers, such as data center equipment depreciation and facility costs (such as co-location rentals), website hosting costs, credit card processing fees, amortization of capitalized software, charity donations and external sample costs. Personnel costs include salaries and bonuses, stock-based compensation expense, other employee benefits and travel-related expenses for employees whose primary responsibilities relate to supporting the Company’s infrastructure and delivering user support. Other related costs include amortization of acquired developed technology intangible assets and allocated overhead.
Deferred CommissionsDeferred Commissions Certain commissions earned by the Company’s salesforce are considered to be incremental and recoverable costs of obtaining a contract with a customer. Such costs are deferred and amortized on a straight-line basis over their estimated period of benefit which is generally estimated as four years. The period of benefit was estimated by considering factors such as historical customer attrition rates, the useful life of the Company’s technology, and the impact of competition in its industry. Amortization of deferred commissions, included in sales and marketing expense line within the consolidated statements of operations was $4.2 million, $2.7 million and $1.6 million during the years ended December 31, 2020, 2019 and 2018 respectively. There was no impairment loss in relation to the deferred commissions for any period presented.
Stock-Based CompensationStock-Based Compensation The Company recognizes stock-based compensation expense for all share-based payments to employees, including restricted stock units, stock options, restricted stock awards, and shares issuable under the Company’s 2018 employee stock purchase plan, as amended (“the ESPP”) based on the grant-date fair value of the Company’s common stock estimated in accordance with the provisions of ASC 718, Compensation‑Stock Compensation The Company estimates the fair value of restricted stock units (including those that are performance-based) and restricted stock awards based on the fair value of the Company’s common stock on the grant date. The Company estimates the fair values of its stock options and shares issuable under the ESPP using the Black-Scholes-Merton option-pricing model. The valuation model requires input of the following key assumptions:

Expected Term: As the Company does not have sufficient historical information to develop reasonable expectations about future exercise patterns and post-vesting employment termination behavior, the Company determines the expected term based on the average period the stock options or ESPP are expected to remain outstanding. For stock options, expected term is calculated as the midpoint of the stock options vesting term and contractual expiration period.

Expected Volatility: As the Company does not have sufficient trading history of its common stock, stock price volatility is estimated at the applicable grant date by taking the weighted-average historical volatility of a group of comparable publicly-traded companies over a period equal to the expected life of the options or ESPP.

Expected Dividend Rate: The Company has not paid and does not anticipate paying cash dividends on its shares of common stock in the foreseeable future; therefore, the expected dividend yield is assumed to be zero.

Risk-Free Interest Rate: The Company determined the risk-free interest rate by using a weighted average assumption equivalent to the expected term based on the U.S. Treasury constant maturity rate as of the date of grant.
Cash and Cash EquivalentsCash and Cash Equivalents Cash and cash equivalents primarily consist of cash on deposit with banks and investments in money market funds (for which the Company had none in any of the periods presented) with maturities of 90 days or less from the date of purchase. The Company also classifies amounts in transit from payment processors for customer credit card and debit card transactions as cash equivalents, because such amounts generally convert to cash within five days with little or no default risk.
Accounts ReceivableAccounts Receivable Accounts receivable are presented at amortized cost net of amounts not expected to be collected. Accounts receivable are customer obligations that arise due to the time taken to settle transactions through direct customer payments. The Company bills in advance for monthly contracts and generally bills annually in advance for contracts with terms of one year or longer when it has an unconditional contractual right to consideration. The Company also recognizes an immaterial amount of contract assets, or unbilled receivables, primarily relating to rights to consideration for services completed but not billed at the reporting date. Unbilled receivables are classified as receivables when the Company has the right to invoice the customer. The Company records an allowance for credit losses based upon its assessment of various factors including the Company’s a) historical experience (including historical bad debt expense trends), the age of a customers’ accounts receivable balance, and a customers’ credit quality, b) expected losses over the remaining estimated contractual life of the receivable and c) other reasonable and supportable factors pertaining to a customers’ ability to pay (including consideration of current economic conditions). Amounts deemed uncollectible and expected credit losses are recorded to the allowance for doubtful accounts with an offsetting charge in the consolidated statements of operations. The Company evaluated its allowance for credit losses using its consolidated gross accounts receivable balance as a single portfolio segment. Bad debt expense recognized in the consolidated statements of operations was $1.4 million, $0.4 million and $0.2 million during the years ended December 31, 2020, 2019 and 2018, respectively. Write-off of uncollectible accounts receivable was $1.0 million, $0.4 million and $0.1 million during the years ended December 31, 2020, 2019 and 2018, respectively, and was recorded against the allowance for doubtful accounts.
Concentration of Credit RiskConcentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash, cash equivalents and accounts receivable. The Company places its cash and cash equivalents in banks, primarily in checking accounts and such amounts may at times exceed the federally insured limits. Cash equivalents consist of short-term money market funds (for which the Company had none in any of the periods presented), which are managed by reputable financial institutions. As of December 31, 2020, $201.3 million of the Company’s cash and cash equivalents are held in one financial institution. For purposes of its customer concentration disclosure, the Company defines a customer as an organization. An organization may consist of an individual paying user, multiple paying users within an organization or the organization itself. No single customer accounted for more than 10% of revenue during each of the years ended December 31, 2020, 2019 and 2018. No customers accounted for more than 10% of accounts receivable, net as of December 31, 2020 and 2019, respectively.
Business CombinationsBusiness Combinations When the Company acquires a business, the purchase consideration is allocated to the tangible assets acquired, liabilities assumed, and intangible assets acquired based on their estimated respective fair values. The excess of the fair value of purchase consideration over the fair values of these identifiable assets and liabilities is recorded as goodwill. Such valuations require the Company to make significant estimates and assumptions, especially with respect to intangible assets. Significant estimates in valuing certain intangible assets include, but are not limited to, future expected cash flows from acquired users including related attrition rates, acquired developed technology including the estimated obsolescence of the technology, and trade names from a market participant perspective, future expected cash flows for operating expenses, useful lives and discount rates. The Company’s estimates of fair value are based upon assumptions believed to be reasonable, but which are inherently uncertain and unpredictable and, as a result, actual results may differ from estimates. During the measurement period, which is one year from the acquisition date, the Company may record adjustments to the assets acquired and liabilities assumed, with the corresponding offset to goodwill. Upon the conclusion of the measurement period, any subsequent adjustments are recorded to non-operating (income) expense in the consolidated statements of operations.
Impairment of Long-Lived AssetsImpairment of Long-Lived Assets Long-lived assets with finite lives include property and equipment, capitalized internal-use software and acquisition intangible assets. Long-lived assets are depreciated or amortized over their estimated useful lives which are as follows:
Computer equipment
2 to 5 years
Furniture, fixtures, and other assets
5 years
Leasehold improvements
Shorter of remaining lease term or 5 years
Purchased software
3 years
Capitalized internal-use software
3 years
Acquisition intangible assets: customer relationships
3 to 7 years
Acquisition intangible assets: trade name
5 to 10 years
Acquisition intangible assets: developed technology
3 to 8 years The Company continually evaluates whether events and circumstances have occurred that indicate the remaining estimated useful life of depreciable or amortizable long-lived assets may warrant revision or that the remaining balance may not be recoverable. When factors indicate that long-lived assets should be evaluated for possible impairment, the Company uses an estimate of the related undiscounted future cash flows over the remaining life of the long-lived assets in measuring whether they are recoverable. If the estimated undiscounted future cash flows do not exceed the carrying value of the asset, a loss is recorded as the excess of the asset’s carrying value over its fair value. The Company did not recognize any impairment of long-lived assets during the years ended December 31, 2020 and 2019. During the year ended December 31, 2018, the Company impaired $2.8 million of leasehold improvements which was included in the restructuring line in the consolidated statement of operations. The Company believes that the carrying values of long-lived assets as of December 31, 2020 are recoverable. Goodwill is not amortized but rather tested for impairment at least annually, or more frequently if events or changes in circumstances indicate that goodwill may be impaired. Goodwill impairment is recognized when the carrying value of goodwill exceeds the implied fair value of the Company. The Company did not recognize any impairment of goodwill during each of the years ended December 31, 2020, 2019 and 2018.
Foreign CurrenciesForeign Currencies Where the functional currency of the Company’s foreign subsidiaries is the U.S. dollar, monetary assets and liabilities are remeasured using foreign currency exchange rates at the end of the period, and non-monetary assets are remeasured based on historical exchange rates. Gains and losses due to foreign currency are the result of either the remeasurement of subsidiary balances or transactions denominated in currencies other than the foreign subsidiaries’ functional currency and are included in other non-operating (income) expense, net in the consolidated statements of operations. Where the functional currency of the Company’s foreign subsidiaries is the local currency, the assets and liabilities of those foreign subsidiaries are translated from their respective functional currencies into U.S. dollars at the rates in effect at the balance sheet date and revenue and expense amounts are translated at a rate approximating the average exchange rate for the period. Foreign currency translation gains and losses are recorded to accumulated other comprehensive income (loss).
Fair Value of Financial InstrumentsFair Value of Financial Instruments The Company applies the provisions of ASC 820, Fair Value Measurement Securities are classified as available for sale and are carried at fair value, with the change in unrealized gains and losses, net of tax, reported as a separate component on the consolidated statements of comprehensive income until realized. See Note 6 for additional disclosures regarding fair value measurements.
Private Company InvestmentPrivate Company Investment The Company accounts for one private company investment, without readily determinable fair value, under the cost method. This investment, for which the Company is not able to exercise significant influence over the investee, is measured and accounted for using an alternative measurement basis of a) the security’s carrying value at cost, b) less any impairment and c) plus or minus any qualifying observable price changes. Observable price changes or impairments recognized on the Company’s private company investment would be classified as a Level 3 financial instrument within the fair value hierarchy based on the nature of the fair value inputs. The Company classifies the private company investment as an other asset on the consolidated balance sheets as this investment does not have a stated contractual maturity date. Any adjustments to the carrying value are recognized in other non-operating (income) expense, net in the consolidated statements of operations. As of December 31, 2020 and 2019, respectively, the carrying value of the Company’s private company investment at cost was $3.6 million. There were no impairments or observable price changes for the Company’s private company investment during the years ended December 31, 2020, 2019 and 2018, respectively.
Impairment of InvestmentsImpairment of Investments The Company periodically reviews its investments for impairment. If the Company concludes that any of these investments are impaired, the Company determines whether such impairment is other-than-temporary. Factors considered to make such determination include the duration and severity of the impairment, the reason for the decline in value and the potential recovery period and the Company’s intent to sell. For debt securities, the Company also considers whether (1) it is more likely than not that the Company will be required to sell the security before recovery of its amortized cost basis, and (2) the amortized cost basis cannot be recovered as a result of credit losses. If the investment is considered to be other-than-temporarily impaired, the Company will record the investment at fair value by recognizing an impairment within other non-operating (income) expense in the consolidated statements of operations and establishing a new carrying value for the investment.
Property and EquipmentProperty and Equipment Property and equipment are recorded at cost and depreciated using the straight-line method over the estimated useful lives of the assets. Expenditures that improve an asset or extend its estimated useful life are capitalized. Costs of maintenance and repairs that do not improve or extend the lives of the respective assets are expensed as incurred.
Capitalized Internal-Use SoftwareCapitalized Internal-Use Software The Company incurs development costs relating to its online platform as well as other software solely for internal-use. Costs relating to the planning and post‑implementation phases of development are expensed as incurred. Costs incurred in the application development phase are capitalized and included in capitalized internal-use software, net and amortized over their estimated useful life, generally three years. Maintenance and training costs are expensed as incurred.
LeasesLeases At contract inception, the Company performs an evaluation to determine if it is conveyed the right to control the use of identified property, plant or equipment. To the extent such rights of control are conveyed, the Company further makes an assessment as to the applicable lease classification. The Company leases facilities, datacenters and equipment, which are generally accounted for as operating leases (as further described in Note 10). On January 1, 2019, the Company adopted ASC 842 which required companies to recognize operating and financing lease liabilities and corresponding ROU assets on the balance sheet through the use of the modified retrospective transition method which allowed for recognition of the cumulative-effect adjustments at the beginning of the adoption period. The adoption of ASC 842 resulted in the recognition of ROU assets of $63.1 million and operating lease liabilities of $92.8 million at the adoption date. For the year ended December 31, 2018, the Company’s consolidated statement of operations are presented pursuant to ASC 840. Operating Leases Operating leases are included in operating lease right-of-use (“ROU”) assets, operating lease liabilities, current, and operating lease liabilities, non-current, in the consolidated balance sheet. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating ROU assets and lease liabilities are recognized at the lease inception date based on the present value of lease payments over the lease term discounted based on the more readily determinable of (i) the rate implicit in the lease or (ii) the Company’s incremental borrowing rate (which is the estimated rate the Company would be required to pay for a collateralized borrowing equal to the total lease payments over the term of the lease). Because the Company’s operating leases generally do not provide an implicit rate, an analysis of publicly traded debt securities of companies with credit and financial profiles similar to the Company’s is used to estimate the incremental borrowing rate. The Company’s operating lease terms have generally ranged between 1 year to 12 years and may include options to extend the lease term, generally at market rates. The Company’s ROU assets are measured based on the corresponding operating lease liability adjusted for (i) payments made to the lessor at or before the commencement date, (ii) initial direct costs incurred and (iii) tenant incentives under the lease. The Company does not assume renewals or early terminations unless it is reasonably certain to exercise these options at commencement. The Company does not allocate consideration between lease and non-lease components. Lease expense is recognized on a straight-line basis over the lease term. For short-term leases, the Company records lease expense in its consolidated statements of operations on a straight-line basis over the lease term and records variable lease payments as incurred. Subleases The Company additionally had entered into subleases for unoccupied leased office space. To the extent there were losses associated with the sublease, they were recognized in the period the sublease is executed. Gains are recognized over the sublease term. Any sublease payments received in excess of the straight-line rent payments for the sublease are recorded in other non-operating (income) expense. The Company’s sublease agreements do not contain any variable payments, material residual value guarantees or material restrictive covenants.
Legal and Other ContingenciesLegal and Other Contingencies The Company accrues a liability for either claims arising in the ordinary course of business, assessments resulting from non-income-based audits or litigation when it is probable that a loss has been incurred and the amount is reasonably estimable, the determination of which requires significant judgment. See Note 11 for additional information pertaining to legal and other contingencies.
Liability for Sabbatical LeaveLiability for Sabbatical Leave The Company provides an employee sabbatical leave program accounted for in accordance with ASC 710, Compensated Absences
Advertising and Promotion CostsAdvertising and Promotion Costs Expenses related to advertising, marketing and promotion of the Company’s product offerings are expensed as incurred. These costs mainly consist of search engine marketing related costs. The Company incurred $44.6 million, $30.3 million and $25.7 million during the years ended December 31, 2020, 2019 and 2018, respectively, which are included in sales and marketing expenses in the consolidated statements of operations.
RestructuringRestructuring The Company accounts for restructuring activities in accordance with ASC 420, Exit or Disposal Cost Obligations. In November 2017, the Company implemented a restructuring plan (“November 2017 Plan”) to reduce its sales and marketing headcount and centralize its sales function in its San Mateo, CA headquarters. During the year ended December 31, 2018, the Company recognized $ 3.5 million of restructuring costs under the November 2017 Plan which consisted of and impairment charge of $ 2.8 million on property and equipment, and $ 0.7 million of lease termination costs and employee severance. During the year ended December 31, 2019, t he Company reversed $ 0.1 million of employee severance costs and actions pursuant to the November 2017 Plan were completed .
Other Non-Operating (Income) ExpenseOther Non-Operating (Income) Expense Other non-operating (income) expense, net consists primarily of interest income, net foreign currency exchange (gains) losses, gain on sale of private company investments, net realized gains and losses related to investments, loss on debt modification/extinguishment, and other. The components of other non-operating (income) expense recognized in the consolidated financial statements is as follows:
Year Ended December 31,
(in thousands)
2020
2019
2018
Interest Income
$
(780
)
$
(3,030
)
$
(1,161
)
Foreign currency (gains) losses, net
225
399
1,460
Gain on sale of a private company investment
(1,001
)
(1,001
)
(999
)
Loss on debt modification / extinguishment


941
Other (income) expense, net
120
(330
)
57
Other non-operating (income) expense, net
$
(1,436
)
$
(3,962
)
$
298
In January 2017, the Company sold a private company investment of approximately $5.0 million that was accounted for using the cost method of accounting for consideration of $11.7 million. The Company recognized an initial gain upon sale of $6.8 million during the year ended December 31, 2017. Additionally, the Company was entitled to receive contingent consideration to be received over three years following the close of the transaction, subject to the private company meeting certain employee retention and financial targets. Subsequent earn-out amounts collected were recorded as a gain when cash was received. In each of the years ended December 31, 2020, 2019 and 2018, the Company received its share of the first, second and final installments of the earn-out payments of $1.0 million, which was recognized as a gain on sale of a private company investment.
Income TaxesIncome Taxes The Company accounts for income taxes using the asset and liability method. ASC 740, Accounting for Income Taxes, Valuation allowances are established when necessary to reduce the deferred tax assets when it is more likely than not that a portion or all of the deferred tax assets will not be realized. ASC 740 prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken on a tax return and provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. The Company records uncertain tax positions on the basis of a two-step process in which: (1) the Company determines whether it is more likely than not that the tax positions will be sustained on the basis of technical merits of the position, and (2) for those tax positions that meet the more likely than not recognition threshold, the Company recognizes the tax benefit as the largest amount that is cumulatively more than 50% likely to be realized upon ultimate settlement with the related tax authority. From time to time, the Company engages in certain intercompany transactions and legal entity restructurings. The Company considers many factors when evaluating these transactions, including the alignment of their corporate structure with their organizational objectives and the operational and tax efficiency of their corporate structure, as well as the long-term cash flows and cash needs of its business. These transactions may impact the Company’s overall tax rate and/or result in additional cash tax payments. The impact in any period may be significant. These transactions may be complex and the impact of such transactions on future periods may be difficult to estimate.
Accounting Pronouncements Recently Adopted and Not Yet AdoptedAccounting Pronouncements Recently Adopted Credit Losses : In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses ("ASU 2016-13"). ASU 2016-13 replaces the incurred loss impairment methodology in the current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. For trade receivables and other financial instruments, the Company will be required to use a forward-looking expected loss model rather than the incurred loss model for recognizing credit losses which reflects losses that are probable. ASU 2016-13 is effective for public companies with fiscal years beginning after December 15, 2019, with early adoption permitted. Application of the amendments is through a cumulative-effect adjustment to retained earnings as of the effective date. The Company adopted ASU 2016-13, including applicable amendments in other ASUs issued subsequent to ASU 2016-13, with no material impact upon adoption. Income Taxes : In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes ("ASU 2019-12"). ASU 2019-12 simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. ASU 2019-12 also improves consistent application and simplifies other areas of Topic 740 by clarifying and amending existing guidance. Early adoption is permitted, provided that the Company reflects any adjustments as of the beginning of the annual period that includes the interim period for which such early adoption occurs. Additionally, the Company must adopt all the amendments in the same period if early adoption is elected. ASU 2019-12 is effective for public companies with fiscal years beginning after December 15, 2020, unless early adopted. The Company adopted the provisions of ASU 2019-12 on January 1, 2021, with no material impact on its consolidated financial statements and related disclosures. Accounting Pronouncements Not Yet Adopted Reference Rate Reform : In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting . ASU 2020-04 is intended to provide temporary optional expedients and exceptions to the GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from the London Interbank Offered Rate (LIBOR) and other interbank offered rates to alternative reference rates. This guidance is effective beginning on March 12, 2020, and the Company may elect to apply the amendments prospectively through December 31, 2022. The Company does not expect this update will have a material impact on its consolidated financial statements and related disclosures.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)12 Months Ended
Dec. 31, 2020
Accounting Policies [Abstract]
Schedule of Estimated Useful Lives of Long-Lived AssetsLong-lived assets are depreciated or amortized over their estimated useful lives which are as follows:
Computer equipment
2 to 5 years
Furniture, fixtures, and other assets
5 years
Leasehold improvements
Shorter of remaining lease term or 5 years
Purchased software
3 years
Capitalized internal-use software
3 years
Acquisition intangible assets: customer relationships
3 to 7 years
Acquisition intangible assets: trade name
5 to 10 years
Acquisition intangible assets: developed technology
3 to 8 years
Components of Other Non-Operating (Income) Expense Recognized in Condensed Consolidated Financial StatementsThe components of other non-operating (income) expense recognized in the consolidated financial statements is as follows:
Year Ended December 31,
(in thousands)
2020
2019
2018
Interest Income
$
(780
)
$
(3,030
)
$
(1,161
)
Foreign currency (gains) losses, net
225
399
1,460
Gain on sale of a private company investment
(1,001
)
(1,001
)
(999
)
Loss on debt modification / extinguishment


941
Other (income) expense, net
120
(330
)
57
Other non-operating (income) expense, net
$
(1,436
)
$
(3,962
)
$
298

Revenue and Deferred Revenue (T

Revenue and Deferred Revenue (Tables)12 Months Ended
Dec. 31, 2020
Revenue From Contract With Customer [Abstract]
Summary of Disaggregated Revenue by Sales ChannelRevenue by sales channel was as follows:
Year Ended December 31,
(in thousands)
2020
2019
2018
Self-serve revenue
$
267,703
$
241,986
$
220,822
Enterprise revenue
107,907
65,435
33,502
Revenue
$
375,610
$
307,421
$
254,324

Geographical Information (Table

Geographical Information (Tables)12 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]
Schedule of Percentage of Revenue by Geographic AreaThe following table sets forth the percentage of revenue by geographic area:
Year Ended December 31,
2020
2019
2018
United States
65
%
65
%
64
%
Rest of world
35
%
35
%
36
%
Schedule of Percentage of Long-lived Assets by Geographic AreaAs of December 31, 2020 and 2019, the following table summarizes the percentage of the Company’s long-lived assets by geographic area:
Property and equipment, net
Operating lease ROU assets
Acquisition intangibles, net
December 31, 2020
December 31, 2019
December 31, 2020
December 31, 2019
December 31, 2020
December 31, 2019
United States
79
%
83
%
92
%
92
%
46
%
64
%
Canada
18
%
13
%
2
%
2
%
*
*
Ireland
*
*
3
%
3
%
21
%
2
%
Netherlands
3
%
2
%
3
%
3
%
32
%
32
%
Rest of world
*
2
%
*
*
1
%
2
%
*
less than 1%

Cash and Cash Equivalents (Tabl

Cash and Cash Equivalents (Tables)12 Months Ended
Dec. 31, 2020
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents [Abstract]
Summary of Reconciliation of the Cash, Cash Equivalents, and Restricted CashAs of December 31, 2020 and 2019, the following table provides a reconciliation of the amount of cash, cash equivalents, and restricted cash reported within the consolidated balance sheets to the total of the same such amounts shown in the consolidated statements of cash flows:
(in thousands)
December 31, 2020
December 31, 2019
Cash and cash equivalents
$
224,390
$
131,035
Restricted cash included in prepaid expenses and other current assets
224
578
Restricted cash included in other assets

70
Total cash, cash equivalents and restricted cash
$
224,614
$
131,683

Property and Equipment (Tables)

Property and Equipment (Tables)12 Months Ended
Dec. 31, 2020
Property Plant And Equipment [Abstract]
Schedule of Property and EquipmentAs of December 31, 2020 and 2019, property and equipment consisted of the following:
(in thousands)
December 31, 2020
December 31, 2019
Computer equipment
$
15,770
$
23,155
Leasehold improvements
54,079
55,224
Furniture, fixtures, and other assets
10,944
11,411
Gross property and equipment
80,793
89,790
Less: Accumulated depreciation
(61,869
)
(54,718
)
Property and equipment, net
$
18,924
$
35,072

Acquisitions, Intangible Asse_2

Acquisitions, Intangible Assets and Goodwill (Tables)12 Months Ended
Dec. 31, 2020
Acquisitions Intangible Assets And Goodwill [Abstract]
Schedule of Intangible Assets, netAs of December 31, 2020 and 2019, intangible assets, net consisted of the following:
December 31, 2020
December 31, 2019
(in thousands)
Gross Carrying Amount
Accumulated Amortization
Net Carrying Amount
Gross Carrying Amount
Accumulated Amortization
Net Carrying Amount
Customer relationships
$
23,804
$
(12,448
)
$
11,356
$
25,594
$
(9,712
)
$
15,882
Trade name
2,824
(1,285
)
1,539
2,711
(763
)
1,948
Developed technology
20,881
(12,569
)
8,312
27,547
(12,227
)
15,320
Acquisition intangible assets, net
$
47,509
$
(26,302
)
$
21,207
$
55,852
$
(22,702
)
$
33,150
As of December 31, 2020 and 2019, capitalized internal-use software consisted of the following:
(in thousands)
December 31, 2020
December 31, 2019
Gross capitalized internal-use software
$
50,833
$
61,130
Less: Accumulated amortization
(21,371
)
(27,974
)
Capitalized internal-use software, net
$
29,462
$
33,156
Schedule of Carrying Amount of GoodwillThe changes in the carrying amount of goodwill were as follows (in thousands):
Balance as of December 31, 2018
$
336,861
Additions
125,981
Foreign currency translation
85
Balance as of December 31, 2019
462,927
Foreign currency translation
5,837
Balance as of December 31, 2020
$
468,764
Summary of Future Amortization ExpenseAs of December 31, 2020, future amortization expense by year is expected to be as follows:
(in thousands)
Capitalized internal-use software, net
Acquisition intangible assets, net
2021
$
10,950
$
10,299
2022
6,963
5,121
2023
1,584
1,928
2024

1,670
2025

1,389
Thereafter

800
Total amortization expense
$
19,497
$
21,207

Stockholders' Equity and Empl_2

Stockholders' Equity and Employee Benefit Plans (Tables)12 Months Ended
Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Summary of Stock Options ActivityThe following is a summary of stock options activity for the year ended December 31, 2020:
Stock Options
Number of Shares
Weighted Average Exercise Price
Aggregate Intrinsic Value (in thousands)
Weighted Average Remaining Contractual Term (in years)
Outstanding at December 31, 2019
15,812,928
$
14.67
$
50,994
7.4
Granted
2,649,800
$
21.46
Exercised
(3,088,076
)
$
13.66
Forfeited
(244,623
)
$
14.42
Expired
(29,887
)
$
14.74
Outstanding, vested and expected to vest at December 31, 2020
15,100,142
$
16.07
$
143,156
6.9
Vested and exercisable at December 31, 2020
10,428,449
$
15.38
$
106,006
6.2
Summary of Estimated Fair Value of Stock Options Granted Using Weighted-average AssumptionsThe Company used the Black-Scholes-Merton option pricing model to estimate the fair value of stock options granted using the following weighted-average assumptions:
Year Ended December 31,
2020
2019
2018
Expected life (in years)
5.8
5.9
5.8
Risk-free interest rate
1.2%
2.2%
2.8%
Volatility
49%
46%
48%
Dividend yield
—%
—%
—%
Fair value of common stock
$21.46
$14.17
$13.31
Summary of Estimated Fair Value of ESPP Purchase Rights Granted Using Weighted-average AssumptionsThe Company used the Black-Scholes-Merton option pricing model to estimate the fair value of ESPP purchase rights granted using the following weighted-average assumptions:
Year Ended December 31,
2020
2019
2018
Expected life (in years)
1.3
1.2
1.3
Risk-free interest rate
0.1%
1.9%
2.7%
Volatility
56%
42%
39%
Dividend yield
—%
—%
—%
Fair value of common stock
$20.42
$17.00
$12.89
Summary of Stock-based Compensation Expense Recognized in Financial StatementsStock-based compensation expense recognized in the consolidated financial statements is as follows:
Year Ended December 31,
(in thousands)
2020
2019
2018
Cost of revenue
$
4,450
$
3,658
$
8,931
Research and development
30,693
21,159
48,739
Sales and marketing
19,707
11,950
19,046
General and administrative
24,317
23,478
55,054
Stock-based compensation expense, net of amounts capitalized
79,167
60,245
131,770
Capitalized stock-based compensation expense
2,243
3,503
2,609
Stock-based compensation expense
$
81,410
$
63,748
$
134,379
Summary of Unamortized Stock-based CompensationAs of December 31, 2020, unamortized stock-based compensation was as follows:
Unrecognized stock-based compensation (in thousands)
Weighted average vesting period (in years)
Restricted stock units (service-based)
$
108,731
2.4
Restricted stock units (performance-based)
932
0.8
Stock options
34,736
2.1
Restricted stock awards
1,560
1.2
ESPP
6,100
1.7
Total unrecognized stock-based compensation
$
152,059
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Summary of Restricted Stock Units Activity and Restricted Stock Awards ActivityThe following is a summary of restricted stock units activity for the year ended December 31, 2020:
Restricted Stock Units
Number of Shares
Weighted Average Grant-Date Fair Value
Weighted Average Remaining Contractual Term (in years)
Unvested at December 31, 2019
6,975,994
$
14.72
2.2
Granted
5,091,244
$
19.43
Vested
(4,115,357
)
$
15.07
Forfeited/cancelled
(951,026
)
$
16.25
Unvested at December 31, 2020
7,000,855
$
17.72
1.1
Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Summary of Restricted Stock Units Activity and Restricted Stock Awards ActivityThe following is a summary of restricted stock awards activity for the year ended December 31, 2020:
Restricted Stock Awards
Number of Shares
Weighted Average Grant-Date Fair Value
Weighted Average Remaining Contractual Term (in years)
Unvested at December 31, 2019
299,798
$
18.30
2.3
Vested
(197,338
)
$
18.30
Unvested at December 31, 2020
102,460
$
18.30
1.2

Leases (Tables)

Leases (Tables)12 Months Ended
Dec. 31, 2020
Leases [Abstract]
Schedule of Operating Lease CostsThe Company’s operating lease costs were as follows:
Year Ended December 31,
(in thousands)
2020
2019
Operating lease cost (gross lease expense)
$
13,377
$
12,773
Variable lease costs
5,636
6,630
Sublease income (including reimbursed expenses)
5,303
7,527
Schedule of Maturities of Operating Lease Liabilities and Sublease IncomeAs of December 31, 2020, maturities of operating lease liabilities and sublease income, by year are as follows:
(in thousands)
Operating Lease Payments
Sublease Income
2021
$
14,234
$
(4,087
)
2022
14,099
(1,481
)
2023
13,587
(1,101
)
2024
13,287

2025
13,531

Thereafter
42,300

Gross lease payments (income)
$
111,038
$
(6,669
)
Less: Imputed interest
27,789
Less: Tenant improvement receivables
444
Total operating lease liabilities
$
82,805

Commitments and Contingencies (

Commitments and Contingencies (Tables)12 Months Ended
Dec. 31, 2020
Commitments And Contingencies Disclosure [Abstract]
Schedule of Non-Cancellable Purchase CommitmentsThe Company enters into commitments under non-cancellable purchase orders for the procurement of goods and services in the ordinary course of business. As of December 31, 2020, expected payments under such commitments are as follows (in thousands):
2021
$
11,165
2022
8,738
2023
6,202
2024
2,115
2025

Thereafter

Total purchase commitments
$
28,220

Debt (Tables)

Debt (Tables)12 Months Ended
Dec. 31, 2020
Debt Disclosure [Abstract]
Schedule of Carrying Values of DebtAs of December 31, 2020 and 2019, the carrying values of debt were as follows:
December 31, 2020
December 31, 2019
Issuance date
Maturity date
Amount (in thousands)
Effective Interest Rate
Amount (in thousands)
Effective Interest Rate
2018 Refinancing Facility Agreement
October 2018
October 2025
$
215,050
3.9% - 5.4%
$
217,250
5.3% - 6.3%
Less: Unamortized issuance discount and issuance costs, net
1,434
1,734
Less: Debt, current
1,900
1,900
Debt, non-current
$
211,716
$
213,616
Schedule of Future Minimum Payment Obligations of Principal Amounts DuePrincipal and interest payments are due quarterly. As of December 31, 2020, future minimum payment obligations of principal amounts due by year under the 2018 Credit Facility were as follows (in thousands):
2021
$
2,200
2022
2,200
2023
2,200
2024
2,200
2025
2,200
Thereafter
204,050
Total principal outstanding
$
215,050

Income Taxes (Tables)

Income Taxes (Tables)12 Months Ended
Dec. 31, 2020
Income Tax Disclosure [Abstract]
Summary of Loss from Operations Before Income Taxes Categorized GeographicallyLoss from operations before income taxes is categorized geographically as follows:
Year Ended December 31,
(in thousands)
2020
2019
2018
United States
$
(46,409
)
$
(81,653
)
$
(152,045
)
Foreign
(43,993
)
5,015
(2,547
)
Total loss from operations before income taxes
$
(90,402
)
$
(76,638
)
$
(154,592
)
Schedule of Provision for (Benefit from) Income TaxesThe provision for (benefit from) income taxes consisted of the following:
Year Ended December 31,
(in thousands)
2020
2019
2018
Current income tax expense:
Federal
$

$
14
$
(70
)
State
28
10
48
Foreign
337
873
677
Total current income tax expense
365
897
655
Deferred income tax expense:
Federal
324
(1,087
)
(483
)
State
3
121
562
Foreign
487
(2,710
)
(586
)
Total deferred income tax expense (benefit)
814
(3,676
)
(507
)
Total provision for (benefit from) income taxes
$
1,179
$
(2,779
)
$
148
Summary of Reconciliation of Company's Effective Tax Rate to Federal Statutory RateA reconciliation of the Company’s effective tax rate to the federal statutory rate is as follows:
Year Ended December 31,
(in thousands)
2020
2019
2018
Tax at federal statutory rate
$
(18,984
)
$
(16,094
)
$
(32,464
)
State income tax, net of federal tax benefit
(4,468
)
(4,102
)
(6,764
)
Foreign tax rate differential
10,009
(2,651
)
626
Stock-based compensation
(3,429
)
1,885
2,378
Research and development credits
(3,066
)
(2,033
)
(5,247
)
Other
492
805
(106
)
Change in valuation allowance
20,625
19,411
41,725
Total provision for (benefit from) income taxes
$
1,179
$
(2,779
)
$
148
Summary of Tax Effects of Temporary Differences Portions of Company's Deferred Tax Assets and LiabilitiesAs of December 31, 2020 and 2019, the tax effects of temporary differences that give rise to significant portions of the Company’s deferred tax assets and liabilities are as follows:
(in thousands)
December 31, 2020
December 31, 2019
Deferred tax assets:
Net operating losses
$
77,467
$
66,170
Tax credits
33,753
26,254
Stock-based compensation
20,971
22,299
Accrued compensation and related expenses
3,012
3,513
Lease liabilities
20,475
22,322
Financing related
11,090
9,033
Intangible assets
75,093
72,226
Other
1,474
2,003
Total deferred tax assets:
243,335
223,820
Valuation allowance
(201,814
)
(174,921
)
Total deferred tax assets, net of valuation allowance:
41,521
48,899
Deferred tax liabilities:
Depreciation and amortization
(867
)
(8,708
)
Goodwill
(25,792
)
(23,047
)
Right-of-use assets
(17,565
)
(19,077
)
Total deferred tax liabilities:
(44,224
)
(50,832
)
Total net deferred tax liabilities:
$
(2,703
)
$
(1,933
)
Summary of Changes in Balances of Gross Unrecognized Tax BenefitsChanges in balances during 2020 and 2019 and ending balances as of December 31, 2020 and 2019 in gross unrecognized tax benefits were as follows:
(in thousands)
December 31, 2020
December 31, 2019
Beginning balances
$
4,905
$
3,351
Increases related to tax positions taken during a prior year
352
156
Increases related to tax positions taken during the current year
1,610
1,398
Decreases related to tax positions taken during a prior year


Decreases related to tax settlements with taxing authorities


Ending balances
$
6,867
$
4,905

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)12 Months Ended
Dec. 31, 2020
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per ShareThe following table sets forth the computation of basic and diluted earnings per share:
Year Ended December 31,
(in thousands, except per share amounts)
2020
2019
2018
Numerator:
Net loss
$
(91,581
)
$
(73,859
)
$
(154,740
)
Denominator:
Weighted-average shares outstanding - basic and diluted
139,887
131,568
107,900
Net loss per common share - basic and diluted:
$
(0.65
)
$
(0.56
)
$
(1.43
)

Company Overview and Basis of_2

Company Overview and Basis of Presentation - Business - Additional Information (Details)12 Months Ended
Dec. 31, 2020Product
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Number of major product pillars offering SaaS feedback solutions3

Company Overview and Basis of_3

Company Overview and Basis of Presentation - Segment Information - Additional Information (Details)12 Months Ended
Dec. 31, 2020Segment
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Number of operating segment1

Company Overview and Basis of_4

Company Overview and Basis of Presentation - Related Party Transactions - Additional Information (Details) - USD ($) $ in Millions12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 31, 2018
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Related party expenses $ 4.3 $ 2.2 $ 1.5

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($)1 Months Ended12 Months Ended
Jan. 31, 2017Dec. 31, 2020Dec. 31, 2019Dec. 31, 2018Dec. 31, 2017Jan. 01, 2019
Summary Of Significant Accounting Policies [Line Items]
Deferred commissions, amortization period4 years
Amortization of deferred commissions $ 4,200,000 $ 2,700,000 $ 1,600,000
Impairment loss related to deferred commissions0 0 0
Bad debt expense1,352,000 432,000 186,000
Accounts receivable write-off1,000,000 400,000 100,000
Cash and cash equivalents held in one financial institution224,390,000 131,035,000
Impairment of long-lived assets0 0
Impairment of property and equipment0 0 2,821,000
Impairment of goodwill0 0 0
Private company investment $ 5,000,000 3,600,000 3,600,000
Impairments on private company investment0 0 0
Observable price changes for private company investment0 0 0
Recognition of ROU assets56,986,000 63,904,000 $ 63,100,000
Operating lease liabilities82,805,000 $ 92,800,000
Liability for sabbatical leave, accrued balance5,500,000 3,800,000
Advertising and promotion costs44,600,000 30,300,000 25,700,000
Restructuring0 (66,000)3,525,000
Cash consideration from sale of private company investment $ 11,700,000
Gain on sale of private company investment $ 1,001,000 1,001,000 999,000 $ 6,800,000
Sale of private company investment, period of contingent consideration to be received3 years
Earn-out payment received $ 1,000,000 1,000,000 1,000,000
November 2017 Restructuring Plan
Summary Of Significant Accounting Policies [Line Items]
Restructuring3,500,000
Restructuring cost reversed(100,000)
Impairment of Property and Equipment | November 2017 Restructuring Plan
Summary Of Significant Accounting Policies [Line Items]
Restructuring2,800,000
Lease Termination Costs And Employee Severance | November 2017 Restructuring Plan
Summary Of Significant Accounting Policies [Line Items]
Restructuring $ 700,000
Accrued Compensation
Summary Of Significant Accounting Policies [Line Items]
Liability for sabbatical leave, accrued balance2,300,000 1,700,000
Other Non-Current Liabilities
Summary Of Significant Accounting Policies [Line Items]
Liability for sabbatical leave, accrued balance $ 3,200,000 $ 2,100,000
ASC 842 | Minimum
Summary Of Significant Accounting Policies [Line Items]
Operating lease terms1 year
ASC 842 | Maximum
Summary Of Significant Accounting Policies [Line Items]
Operating lease terms12 years
Capitalized Internal-Use Software
Summary Of Significant Accounting Policies [Line Items]
Intangible assets estimated useful life3 years
Customer Concentration Risk | Sales Revenue, Net
Summary Of Significant Accounting Policies [Line Items]
Concentration of credit risk, customerNo single customer accounted for more than 10% of revenueNo single customer accounted for more than 10% of revenueNo single customer accounted for more than 10% of revenue
Customer Concentration Risk | Accounts Receivable
Summary Of Significant Accounting Policies [Line Items]
Concentration of credit risk, customerNo customers accounted for more than 10% of accounts receivable, netNo customers accounted for more than 10% of accounts receivable, net
Cash and Cash Equivalents Held in One Financial Institution
Summary Of Significant Accounting Policies [Line Items]
Cash and cash equivalents held in one financial institution $ 201,300,000
Equity Incentive Plans | Time-Based Awards | New Hires
Summary Of Significant Accounting Policies [Line Items]
Stock-based compensation, requisite service period4 years
Equity Incentive Plans | Time-Based Awards | Existing Employees
Summary Of Significant Accounting Policies [Line Items]
Stock-based compensation, requisite service period3 years

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Estimated Useful Lives of Long-Lived Assets (Details)12 Months Ended
Dec. 31, 2020
Computer Equipment | Minimum
Estimated Useful Lives Of Long Lived Assets [Line Items]
Property and equipment, estimated useful life2 years
Computer Equipment | Maximum
Estimated Useful Lives Of Long Lived Assets [Line Items]
Property and equipment, estimated useful life5 years
Furniture, Fixtures, and Other Assets
Estimated Useful Lives Of Long Lived Assets [Line Items]
Property and equipment, estimated useful life5 years
Leasehold Improvements
Estimated Useful Lives Of Long Lived Assets [Line Items]
Property and equipment, estimated useful lifeShorter of remaining lease term or 5 years
Leasehold Improvements | Maximum
Estimated Useful Lives Of Long Lived Assets [Line Items]
Property and equipment, estimated useful life5 years
Purchased software
Estimated Useful Lives Of Long Lived Assets [Line Items]
Property and equipment, estimated useful life3 years
Capitalized Internal-Use Software
Estimated Useful Lives Of Long Lived Assets [Line Items]
Acquisition intangible assets, estimated useful life3 years
Customer Relationships | Minimum
Estimated Useful Lives Of Long Lived Assets [Line Items]
Acquisition intangible assets, estimated useful life3 years
Customer Relationships | Maximum
Estimated Useful Lives Of Long Lived Assets [Line Items]
Acquisition intangible assets, estimated useful life7 years
Trade Name | Minimum
Estimated Useful Lives Of Long Lived Assets [Line Items]
Acquisition intangible assets, estimated useful life5 years
Trade Name | Maximum
Estimated Useful Lives Of Long Lived Assets [Line Items]
Acquisition intangible assets, estimated useful life10 years
Developed Technology | Minimum
Estimated Useful Lives Of Long Lived Assets [Line Items]
Acquisition intangible assets, estimated useful life3 years
Developed Technology | Maximum
Estimated Useful Lives Of Long Lived Assets [Line Items]
Acquisition intangible assets, estimated useful life8 years

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Components of Other Non-Operating (Income) Expense Recognized in Condensed Consolidated Financial Statements (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 31, 2018Dec. 31, 2017
Nonoperating Income Expense [Abstract]
Interest Income $ (780) $ (3,030) $ (1,161)
Foreign currency (gains) losses, net225 399 1,460
Gain on sale of a private company investment(1,001)(1,001)(999) $ (6,800)
Loss on debt modification / extinguishment0 0 941
Other (income) expense, net120 (330)57
Other non-operating (income) expense, net $ (1,436) $ (3,962) $ 298

Revenue and Deferred Revenue -

Revenue and Deferred Revenue - Summary of Disaggregated Revenue by Sales Channel (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 31, 2018
Disaggregation Of Revenue [Line Items]
Revenue $ 375,610 $ 307,421 $ 254,324
Self-serve Revenue
Disaggregation Of Revenue [Line Items]
Revenue267,703 241,986 220,822
Enterprise Revenue
Disaggregation Of Revenue [Line Items]
Revenue $ 107,907 $ 65,435 $ 33,502

Revenue and Deferred Revenue _2

Revenue and Deferred Revenue - Additional Information (Details) - USD ($) $ in Millions12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 31, 2018
Revenue From Contract With Customer [Abstract]
Deferred revenue, revenue recognized $ 137.6 $ 101.1 $ 83.3

Revenue and Deferred Revenue _3

Revenue and Deferred Revenue - Additional Information (Details 1) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-01-01 $ in MillionsDec. 31, 2020USD ($)
Disaggregation Of Revenue [Line Items]
Revenue, unsatisfied performance obligation $ 187.9
Performance obligation, expected timing of satisfaction, period12 months

Geographical Information - Sche

Geographical Information - Schedule of Percentage of Revenue by Geographic Area (Details) - Geographic Concentration Risk - Revenue12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 31, 2018
United States
Revenues From External Customers And Long Lived Assets [Line Items]
Percentage of revenue by geographic area65.00%65.00%64.00%
Rest of World
Revenues From External Customers And Long Lived Assets [Line Items]
Percentage of revenue by geographic area35.00%35.00%36.00%

Geographical Information - Sc_2

Geographical Information - Schedule of Percentage of Long-lived Assets by Geographic Area (Details)Dec. 31, 2020Dec. 31, 2019
United States
Revenues From External Customers And Long Lived Assets [Line Items]
Percentage of property and equipment, net by geographic area79.00%83.00%
Percentage of operating lease ROU assets by geographic area92.00%92.00%
Percentage of acquisition intangibles, net by geographic area46.00%64.00%
Canada
Revenues From External Customers And Long Lived Assets [Line Items]
Percentage of property and equipment, net by geographic area18.00%13.00%
Percentage of operating lease ROU assets by geographic area2.00%2.00%
Percentage of acquisition intangibles, net by geographic area[1]0.00%0.00%
Ireland
Revenues From External Customers And Long Lived Assets [Line Items]
Percentage of property and equipment, net by geographic area[1]0.00%0.00%
Percentage of operating lease ROU assets by geographic area3.00%3.00%
Percentage of acquisition intangibles, net by geographic area21.00%2.00%
Netherlands
Revenues From External Customers And Long Lived Assets [Line Items]
Percentage of property and equipment, net by geographic area3.00%2.00%
Percentage of operating lease ROU assets by geographic area3.00%3.00%
Percentage of acquisition intangibles, net by geographic area32.00%32.00%
Rest of World
Revenues From External Customers And Long Lived Assets [Line Items]
Percentage of property and equipment, net by geographic area0.00%[1]2.00%
Percentage of operating lease ROU assets by geographic area[1]0.00%0.00%
Percentage of acquisition intangibles, net by geographic area1.00%2.00%
[1]less than 1%

Cash and Cash Equivalents - Sum

Cash and Cash Equivalents - Summary of Reconciliation of the Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in ThousandsDec. 31, 2020Dec. 31, 2019Dec. 31, 2018Dec. 31, 2017
Cash And Cash Equivalents [Abstract]
Cash and cash equivalents $ 224,390 $ 131,035
Restricted cash included in prepaid expenses and other current assets $ 224 $ 578
Restricted Cash, Current, Asset, Statement of Financial Position [Extensible List]us-gaap:PrepaidExpenseAndOtherAssetsCurrentus-gaap:PrepaidExpenseAndOtherAssetsCurrent
Restricted cash included in other assets $ 0 $ 70
Restricted Cash, Noncurrent, Asset, Statement of Financial Position [Extensible List]us-gaap:OtherAssetsNoncurrentus-gaap:OtherAssetsNoncurrent
Total cash, cash equivalents and restricted cash $ 224,614 $ 131,683 $ 154,371 $ 35,345

Cash and Cash Equivalents - Add

Cash and Cash Equivalents - Additional Information (Details) - USD ($) $ in MillionsDec. 31, 2020Dec. 31, 2019
Cash And Cash Equivalents [Abstract]
Cash in transit for credit and debit card transactions $ 1.6 $ 1.6

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) $ in MillionsDec. 31, 2020USD ($)
Fair Value Disclosures [Abstract]
Fair value of debt $ 214.5

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment (Details) - USD ($) $ in ThousandsDec. 31, 2020Dec. 31, 2019
Property Plant And Equipment [Line Items]
Gross property and equipment $ 80,793 $ 89,790
Less: Accumulated depreciation(61,869)(54,718)
Property and equipment, net18,924 35,072
Computer Equipment
Property Plant And Equipment [Line Items]
Gross property and equipment15,770 23,155
Leasehold Improvements
Property Plant And Equipment [Line Items]
Gross property and equipment54,079 55,224
Furniture, Fixtures, and Other Assets
Property Plant And Equipment [Line Items]
Gross property and equipment $ 10,944 $ 11,411

Property and Equipment - Additi

Property and Equipment - Additional Information (Details) - USD ($) $ in Millions12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 31, 2018
Property Plant And Equipment [Abstract]
Depreciation expense $ 16.2 $ 17.5 $ 19.5

Acquisitions, Intangible Asse_3

Acquisitions, Intangible Assets and Goodwill - Additional Information (Details) - USD ($) $ / shares in Units, $ in ThousandsSep. 03, 2019Apr. 01, 2019Dec. 31, 2020Dec. 31, 2020Dec. 31, 2019Dec. 31, 2018
Acquisitions Intangible Assets And Goodwill [Line Items]
Cash consideration $ 0 $ 114,603 $ 0
Goodwill $ 468,764 468,764 462,927 336,861
Amortization expense12,602 8,995 4,270
Removal of fully amortized acquisition intangible assets9,700
Amortization expense related to capitalized internal-use software14,200 15,600 $ 21,700
Removal of fully amortized capitalized internal-use software20,800
Capitalized internal-use software, net29,462 29,462 33,156
General and Administrative Expenses
Acquisitions Intangible Assets And Goodwill [Line Items]
Acquisition-related incremental expenses $ 1,700
Capitalized Internal-Use Software Net in Development Phase
Acquisitions Intangible Assets And Goodwill [Line Items]
Capitalized internal-use software, net $ 10,000 $ 10,000
GetFeedback, Inc
Acquisitions Intangible Assets And Goodwill [Line Items]
Closing date of acquisitionSep. 3,
2019
Percentage of outstanding shares acquired100.00%
Business combination, consideration paid in common stock376,333
Business combination, fair value of common stock $ 16.24
Cash consideration $ 61,500
Net cash acquired700
Business combination, total purchase consideration68,300
Business combination, net tangible liabilities3,300
Goodwill53,900
GetFeedback, Inc | Customer Relationships and Developed Technology
Acquisitions Intangible Assets And Goodwill [Line Items]
Business combination, fair value identifiable intangible assets $ 17,700
Usabilla Holding B.V.
Acquisitions Intangible Assets And Goodwill [Line Items]
Closing date of acquisitionApr. 1,
2019
Percentage of outstanding shares acquired100.00%
Business combination, consideration paid in common stock1,644,413
Business combination, fair value of common stock $ 18.30
Cash consideration $ 53,100
Net cash acquired1,100
Business combination, total purchase consideration84,300
Business combination, net tangible liabilities2,900
Goodwill $ 72,100
Usabilla Holding B.V. | Certain Employees of Acquired Company
Acquisitions Intangible Assets And Goodwill [Line Items]
Business acquisition, additional consideration granted299,798
Requisite service period3 years
Usabilla Holding B.V. | Developed Technology
Acquisitions Intangible Assets And Goodwill [Line Items]
Business combination, fair value identifiable intangible assets $ 15,100

Acquisitions, Intangible Asse_4

Acquisitions, Intangible Assets and Goodwill - Schedule of Intangible Assets, Net (Details) - USD ($) $ in ThousandsDec. 31, 2020Dec. 31, 2019
Finite Lived Intangible Assets [Line Items]
Acquisition intangible assets, net, Gross Carrying Amount $ 47,509 $ 55,852
Acquisition intangible assets, net, Accumulated Amortization(26,302)(22,702)
Acquisition intangible assets, net, Net Carrying Amount21,207 33,150
Customer Relationships
Finite Lived Intangible Assets [Line Items]
Acquisition intangible assets, net, Gross Carrying Amount23,804 25,594
Acquisition intangible assets, net, Accumulated Amortization(12,448)(9,712)
Acquisition intangible assets, net, Net Carrying Amount11,356 15,882
Trade Name
Finite Lived Intangible Assets [Line Items]
Acquisition intangible assets, net, Gross Carrying Amount2,824 2,711
Acquisition intangible assets, net, Accumulated Amortization(1,285)(763)
Acquisition intangible assets, net, Net Carrying Amount1,539 1,948
Developed Technology
Finite Lived Intangible Assets [Line Items]
Acquisition intangible assets, net, Gross Carrying Amount20,881 27,547
Acquisition intangible assets, net, Accumulated Amortization(12,569)(12,227)
Acquisition intangible assets, net, Net Carrying Amount $ 8,312 $ 15,320

Acquisitions, Intangible Asse_5

Acquisitions, Intangible Assets and Goodwill - Schedule of Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Beginning balance $ 462,927 $ 336,861
Additions125,981
Foreign currency translation5,837 85
Ending Balance $ 468,764 $ 462,927

Acquisitions, Intangible Asse_6

Acquisitions, Intangible Assets and Goodwill - Schedule of Capitalized Internal-Use Software (Details) - USD ($) $ in ThousandsDec. 31, 2020Dec. 31, 2019
Capitalized Computer Software Net [Abstract]
Gross capitalized internal-use software $ 50,833 $ 61,130
Less: Accumulated amortization(21,371)(27,974)
Capitalized internal-use software, net $ 29,462 $ 33,156

Acquisitions, Intangible Asse_7

Acquisitions, Intangible Assets and Goodwill - Summary of Future Amortization Expense (Details) - USD ($) $ in ThousandsDec. 31, 2020Dec. 31, 2019
Finite Lived Intangible Assets [Line Items]
Acquisition intangible assets, net, Net Carrying Amount $ 21,207 $ 33,150
Capitalized Internal-Use Software, Net
Finite Lived Intangible Assets [Line Items]
202110,950
20226,963
20231,584
20240
20250
Thereafter0
Acquisition intangible assets, net, Net Carrying Amount19,497
Acquisition Intangible Assets, Net
Finite Lived Intangible Assets [Line Items]
202110,299
20225,121
20231,928
20241,670
20251,389
Thereafter800
Acquisition intangible assets, net, Net Carrying Amount $ 21,207

Stockholders' Equity and Empl_3

Stockholders' Equity and Employee Benefit Plans - Common Stock and Preferred Stock - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands12 Months Ended
Dec. 31, 2018Dec. 31, 2020Dec. 31, 2019
Class Of Stock [Line Items]
Common stock, shares authorized800,000,000 800,000,000
Common stock, par value $ 0.00001 $ 0.00001
Preferred stock, shares authorized100,000,000 100,000,000
Preferred stock, par value $ 0.00001 $ 0.00001
Common Stock
Class Of Stock [Line Items]
Stock repurchased during period, shares1,159
Stock repurchased during period, value $ 16
Stock repurchased, price per share $ 13.65
Maximum
Class Of Stock [Line Items]
Shares authorized for issuance900,000,000

Stockholders' Equity and Empl_4

Stockholders' Equity and Employee Benefit Plans - Additional Information (Details) $ / shares in Units, $ in Thousands12 Months Ended
Dec. 31, 2020USD ($)offering_period$ / sharessharesDec. 31, 2019USD ($)$ / sharessharesDec. 31, 2018USD ($)Sep. 05, 2018shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Proceeds under the plan | $ $ 6,719 $ 5,344 $ 0
Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares purchased by employees563,000 506,000
2018 Equity Incentive Plan | Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant14,226,273
2018 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Offering period24 months
Number of offering periods | offering_period4
Length of purchase period6 months
Employee share purchase price percentage85.00%
2018 Employee Stock Purchase Plan | Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant4,223,714
Number of shares purchased by employees562,903 505,546
Weighted average purchase price | $ / shares $ 11.94 $ 10.57
Proceeds under the plan | $ $ 6,700 $ 5,300
Time-Based Awards | Equity Incentive Plans | New Hires
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period4 years
Time-Based Awards | Equity Incentive Plans | Existing Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period3 years
At-the-Money Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value assumptions, method usedBlack-Scholes-Merton option pricing model
Maximum | Equity Incentive Plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period10 years
Maximum | 2018 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual increases in number of shares available for issuance12,500,000
Percentage of outstanding shares5.00%
Maximum | 2018 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual increases in number of shares available for issuance5,346,888
Percentage of outstanding shares1.00%

Stockholders' Equity and Empl_5

Stockholders' Equity and Employee Benefit Plans - Summary of Restricted Stock Units Activity (Details) - Restricted Stock Units - $ / shares12 Months Ended
Dec. 31, 2020Dec. 31, 2019
Number of Shares
Unvested, Beginning balance6,975,994
Granted5,091,244
Vested(4,115,357)
Forfeited/cancelled(951,026)
Unvested, Ending balance7,000,855 6,975,994
Weighted Average Grant-Date Fair Value
Unvested, Beginning balance $ 14.72
Granted19.43
Vested15.07
Forfeited/cancelled16.25
Unvested, Ending balance $ 17.72 $ 14.72
Weighted Average Remaining Contractual Term (in years)
Unvested, Weighted Average Remaining Contractual Term1 year 1 month 6 days2 years 2 months 12 days

Stockholders' Equity and Empl_6

Stockholders' Equity and Employee Benefit Plans - Summary of Stock Options Activity (Details) - USD ($) $ / shares in Units, $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019
Number of Shares
Outstanding, vested and expected to vest, Beginning balance15,812,928
Granted2,649,800
Exercised(3,088,076)
Forfeited(244,623)
Expired(29,887)
Outstanding, vested and expected to vest, Ending balance15,100,142 15,812,928
Vested and exercisable at December 31, 202010,428,449
Weighted Average Exercise Price
Outstanding, vested and expected to vest, Beginning balance $ 14.67
Granted21.46
Exercised13.66
Forfeited14.42
Expired14.74
Outstanding, vested and expected to vest, Ending balance16.07 $ 14.67
Vested and exercisable at December 31, 2020 $ 15.38
Additional Disclosures
Outstanding, vested and expected to vest, Aggregate Intrinsic Value, Beginning balance $ 143,156 $ 50,994
Vested and exercisable at December 31, 2020 $ 106,006
Outstanding, vested and expected to vest, Weighted Average Remaining Contractual Term6 years 10 months 24 days7 years 4 months 24 days
Vested and exercisable, Weighted Average Remaining Contractual Term6 years 2 months 12 days

Stockholders' Equity and Empl_7

Stockholders' Equity and Employee Benefit Plans - Summary of Restricted Stock Awards Activity (Details) - Restricted Stock Awards - $ / shares12 Months Ended
Dec. 31, 2020Dec. 31, 2019
Number of Shares
Unvested, Beginning balance299,798
Vested(197,338)
Unvested, Ending balance102,460 299,798
Weighted Average Grant-Date Fair Value
Unvested, Beginning balance $ 18.30
Vested18.30
Unvested, Ending balance $ 18.30 $ 18.30
Weighted Average Remaining Contractual Term (in years)
Unvested, Weighted Average Remaining Contractual Term1 year 2 months 12 days2 years 3 months 18 days

Stockholders' Equity and Empl_8

Stockholders' Equity and Employee Benefit Plans - Summary of Estimated Fair Value of Stock Options Granted Using Weighted-average Assumptions (Details) - $ / shares12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 31, 2018
Compensation Related Costs [Abstract]
Expected life (in years)5 years 9 months 18 days5 years 10 months 24 days5 years 9 months 18 days
Risk-free interest rate1.20%2.20%2.80%
Volatility49.00%46.00%48.00%
Dividend yield0.00%0.00%0.00%
Fair value of common stock $ 21.46 $ 14.17 $ 13.31

Stockholders' Equity and Empl_9

Stockholders' Equity and Employee Benefit Plans - Summary of Estimated Fair Value of ESPP Purchase Rights Granted Using Weighted-average Assumptions (Details) - $ / shares12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life (in years)5 years 9 months 18 days5 years 10 months 24 days5 years 9 months 18 days
Risk-free interest rate1.20%2.20%2.80%
Volatility49.00%46.00%48.00%
Dividend yield0.00%0.00%0.00%
2018 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life (in years)1 year 3 months 18 days1 year 2 months 12 days1 year 3 months 18 days
Risk-free interest rate0.10%1.90%2.70%
Volatility56.00%42.00%39.00%
Dividend yield0.00%0.00%0.00%
Fair value of common stock $ 20.42 $ 17 $ 12.89

Stockholders' Equity and Emp_10

Stockholders' Equity and Employee Benefit Plans - Summary of Stock-based Compensation Expense Recognized in Financial Statements (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense, net of amounts capitalized $ 79,167 $ 60,245 $ 131,770
Capitalized stock-based compensation expense2,243 3,503 2,609
Stock-based compensation expense81,410 63,748 134,379
Cost of revenue
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense, net of amounts capitalized4,450 3,658 8,931
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense, net of amounts capitalized30,693 21,159 48,739
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense, net of amounts capitalized19,707 11,950 19,046
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense, net of amounts capitalized $ 24,317 $ 23,478 $ 55,054

Stockholders' Equity and Emp_11

Stockholders' Equity and Employee Benefit Plans - Unamortized Stock-based Compensation (Details) $ in Thousands12 Months Ended
Dec. 31, 2020USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation (in thousands) $ 152,059
Restricted Stock Units (Service-Based)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation (in thousands) $ 108,731
Weighted average vesting period (in years)2 years 4 months 24 days
Restricted Stock Units (Performance-Based)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation (in thousands) $ 932
Weighted average vesting period (in years)9 months 18 days
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation (in thousands) $ 34,736
Weighted average vesting period (in years)2 years 1 month 6 days
Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation (in thousands) $ 1,560
Weighted average vesting period (in years)1 year 2 months 12 days
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation (in thousands) $ 6,100
Weighted average vesting period (in years)1 year 8 months 12 days

Stockholders' Equity and Emp_12

Stockholders' Equity and Employee Benefit Plans - 401(k) Plan - Additional Information (Details) - United States - USD ($) $ in Millions12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 31, 2018
Defined Contribution Plan Disclosure [Line Items]
Matching contribution of deferrals for eligible employees25.00%
Matching contribution compensation expense $ 4.2 $ 3 $ 2.3

Leases - Additional Information

Leases - Additional Information (Details)12 Months Ended
Dec. 31, 2020Dec. 31, 2019
Leases [Abstract]
Operating lease expiration year2028
Operating lease, Weighted average remaining operating lease term7 years 7 months 6 days8 years 4 months 24 days
Operating lease, weighted average discount rate, percent7.50%7.40%

Leases - Schedule of Operating

Leases - Schedule of Operating Lease Costs (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019
Leases [Abstract]
Operating lease cost (gross lease expense) $ 13,377 $ 12,773
Variable lease costs5,636 6,630
Sublease income (including reimbursed expenses) $ 5,303 $ 7,527

Leases - Schedule of Maturities

Leases - Schedule of Maturities of Operating Lease Liabilities and Sublease Income (Details) - USD ($) $ in ThousandsDec. 31, 2020Jan. 01, 2019
Operating Leases Payments
2021 $ 14,234
202214,099
202313,587
202413,287
202513,531
Thereafter42,300
Gross lease payments (income)111,038
Less: Imputed interest27,789
Less: Tenant improvement receivables444
Total operating lease liabilities82,805 $ 92,800
Sublease Income
2021(4,087)
2022(1,481)
2023(1,101)
20240
20250
Thereafter0
Gross lease payments (income) $ (6,669)

Commitments and Contingencies -

Commitments and Contingencies - Schedule of Non-Cancellable Purchase Commitments (Details) $ in ThousandsDec. 31, 2020USD ($)
Unrecorded Unconditional Purchase Obligation, Fiscal Year Maturity [Abstract]
2021 $ 11,165
20228,738
20236,202
20242,115
20250
Thereafter0
Total purchase commitments $ 28,220

Commitments and Contingencies_2

Commitments and Contingencies - Additional Information (Details) $ in MillionsDec. 31, 2020USD ($)
San Mateo Facility
Other Commitments [Line Items]
Standby letter of credit issued $ 2.5

Debt - Schedule of Carrying Val

Debt - Schedule of Carrying Values of Debt (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019
Debt Instrument [Line Items]
Total debt $ 215,050
Less: Unamortized issuance discount and issuance costs, net1,434 $ 1,734
Debt, current1,900 1,900
Debt, non-current $ 211,716 213,616
2018 Refinancing Facility Agreement
Debt Instrument [Line Items]
Issuance dateOct. 31,
2018
Maturity dateOct. 10,
2025
Total debt $ 215,050 $ 217,250
2018 Refinancing Facility Agreement | Minimum
Debt Instrument [Line Items]
Effective Interest Rate3.90%5.32%
2018 Refinancing Facility Agreement | Maximum
Debt Instrument [Line Items]
Effective Interest Rate5.40%6.28%

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($)1 Months Ended12 Months Ended
Oct. 31, 2018Dec. 31, 2020Dec. 31, 2019
Debt Instrument [Line Items]
Unamortized issuance discount and issuance costs $ 1,434,000 $ 1,734,000
Prepaid Expenses and Other Current Assets
Debt Instrument [Line Items]
Unamortized issuance discount and issuance costs400,000 400,000
Other Assets
Debt Instrument [Line Items]
Unamortized issuance discount and issuance costs $ 700,000 $ 1,000,000
2018 Credit Facility
Debt Instrument [Line Items]
Debt instrument, due dateOct. 10,
2025
Line of credit facility, remaining borrowing capacity $ 70,000,000
2018 Credit Facility | Term Loan
Debt Instrument [Line Items]
Debt instrument, face amount $ 220,000,000
Debt instrument, quarterly principal payments $ 550,000
Debt instrument, due dateOct. 10,
2025
2018 Credit Facility | Domestic Line of Credit
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity $ 75,000,000
Debt instrument, due dateOct. 10,
2023
2018 Credit Facility | Alternate Base Rate | Term Loan
Debt Instrument [Line Items]
Applicable margin2.75%
2018 Credit Facility | Alternate Base Rate | Domestic Line of Credit | Minimum
Debt Instrument [Line Items]
Applicable margin0.75%
2018 Credit Facility | Alternate Base Rate | Domestic Line of Credit | Maximum
Debt Instrument [Line Items]
Applicable margin1.50%
2018 Credit Facility | Eurocurrency Rate | Term Loan
Debt Instrument [Line Items]
Applicable margin3.75%
2018 Credit Facility | Eurocurrency Rate | Domestic Line of Credit | Minimum
Debt Instrument [Line Items]
Applicable margin1.75%
2018 Credit Facility | Eurocurrency Rate | Domestic Line of Credit | Maximum
Debt Instrument [Line Items]
Applicable margin2.50%

Debt - Schedule of Future Minim

Debt - Schedule of Future Minimum Payment Obligations of Principal Amounts Due (Details) $ in ThousandsDec. 31, 2020USD ($)
Debt Disclosure [Abstract]
2021 $ 2,200
20222,200
20232,200
20242,200
20252,200
Thereafter204,050
Total principal outstanding $ 215,050

Income Taxes - Summary of Loss

Income Taxes - Summary of Loss from Operations Before Income Taxes Categorized Geographically (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 31, 2018
Income Tax Disclosure [Abstract]
United States $ (46,409) $ (81,653) $ (152,045)
Foreign(43,993)5,015 (2,547)
Total loss from operations before income taxes $ (90,402) $ (76,638) $ (154,592)

Income Taxes - Schedule of Prov

Income Taxes - Schedule of Provision for (Benefit from) Income Taxes (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 31, 2018
Current income tax expense:
Federal $ 0 $ 14 $ (70)
State28 10 48
Foreign337 873 677
Total current income tax expense365 897 655
Deferred income tax expense:
Federal324 (1,087)(483)
State3 121 562
Foreign487 (2,710)(586)
Total deferred income tax expense (benefit)814 (3,676)(507)
Total provision for (benefit from) income taxes $ 1,179 $ (2,779) $ 148

Income Taxes - Summary of Recon

Income Taxes - Summary of Reconciliation of Company's Effective Tax Rate to Federal Statutory Rate (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 31, 2018
Income Tax Disclosure [Abstract]
Tax at federal statutory rate $ (18,984) $ (16,094) $ (32,464)
State income tax, net of federal tax benefit(4,468)(4,102)(6,764)
Foreign tax rate differential10,009 (2,651)626
Stock-based compensation(3,429)1,885 2,378
Research and development credits(3,066)(2,033)(5,247)
Other492 805 (106)
Change in valuation allowance20,625 19,411 41,725
Total provision for (benefit from) income taxes $ 1,179 $ (2,779) $ 148

Income Taxes - Summary of Tax E

Income Taxes - Summary of Tax Effects of Temporary Differences Portions of Company's Deferred Tax Assets and Liabilities (Details) - USD ($) $ in ThousandsDec. 31, 2020Dec. 31, 2019
Deferred tax assets:
Net operating losses $ 77,467 $ 66,170
Tax credits33,753 26,254
Stock-based compensation20,971 22,299
Accrued compensation and related expenses3,012 3,513
Lease liabilities20,475 22,322
Financing related11,090 9,033
Intangible assets75,093 72,226
Other1,474 2,003
Total deferred tax assets:243,335 223,820
Valuation allowance(201,814)(174,921)
Total deferred tax assets, net of valuation allowance:41,521 48,899
Deferred tax liabilities:
Depreciation and amortization(867)(8,708)
Goodwill(25,792)(23,047)
Right-of-use assets(17,565)(19,077)
Total deferred tax liabilities:(44,224)(50,832)
Total net deferred tax liabilities: $ (2,703) $ (1,933)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 31, 2018
Operating Loss And Tax Credit Carryforward [Line Items]
Valuation allowance $ 201,814 $ 174,921
Increase (decrease) in valuation allowance26,900 93,700
Cumulative unrecognized tax benefits6,867 $ 4,905 $ 3,351
Cumulative reduction to deferred tax assets related to net operating losses offset by valuation allowance9,000
Unrecognized tax benefits that would impact effective tax rate0
Federal
Operating Loss And Tax Credit Carryforward [Line Items]
Operating loss carryforwards $ 292,100
Operating loss carryforwards, expiration year2020
Federal | Research and Development
Operating Loss And Tax Credit Carryforward [Line Items]
Research and development credits $ 22,100
Research and development credits, expiration year2032
State
Operating Loss And Tax Credit Carryforward [Line Items]
Operating loss carryforwards $ 187,700
Operating loss carryforwards, expiration year2020
State | Research and Development
Operating Loss And Tax Credit Carryforward [Line Items]
Research and development credits $ 17,000
Foreign | Research and Development
Operating Loss And Tax Credit Carryforward [Line Items]
Research and development credits $ 900
Research and development credits, expiration year2037

Income Taxes - Summary of Chang

Income Taxes - Summary of Changes in Balances of Gross Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balances $ 4,905 $ 3,351
Increases related to tax positions taken during a prior year352 156
Increases related to tax positions taken during the current year1,610 1,398
Decreases related to tax positions taken during a prior year0 0
Decreases related to tax settlements with taxing authorities0 0
Ending balances $ 6,867 $ 4,905

Net Loss Per Share - Computatio

Net Loss Per Share - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 31, 2018
Numerator:
Net loss $ (91,581) $ (73,859) $ (154,740)
Denominator:
Weighted-average shares outstanding - basic and diluted139,887 131,568 107,900
Net loss per common share - basic and diluted: $ (0.65) $ (0.56) $ (1.43)

Net Loss Per Share - Additional

Net Loss Per Share - Additional Information (Details) - shares shares in Millions12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 31, 2018
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of net loss per share23 23.8 25.2