XML 19 R9.htm IDEA: XBRL DOCUMENT v3.22.1
Financial Statement Components
3 Months Ended
Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Financial Statement Components
Note 3. Financial Statement Components
Cash and cash equivalents consisted of the following (in thousands):
March 31, 2022December 31, 2021
Cash$72,802 $91,499 
Money market funds229,127 175,663 
Total cash and cash equivalents$301,929 $267,162 
As of March 31, 2022, $5.5 million in the cash balance above represents restricted cash, which is held in the form of a bank deposit for issuance of a foreign bank guarantee.
Accounts receivable, net consisted of the following (in thousands):
March 31, 2022December 31, 2021
Accounts receivable$206,318 $193,192 
Unbilled accounts receivable60,206 47,676 
Allowance for doubtful accounts(9,201)(8,026)
Accounts receivable, net$257,323 $232,842 
Prepaid expenses and other current assets consisted of the following (in thousands):
March 31, 2022December 31, 2021
Prepaid expenses$30,193 $26,254 
Inventory5,747 5,655 
Other current assets15,544 16,256 
Total prepaid expenses and other current assets$51,484 $48,165 
Property and equipment, net consisted of the following (in thousands):
March 31, 2022December 31, 2021
Computer hardware and software$203,769 $197,395 
Internal-use software development costs155,684 140,424 
Furniture and fixtures8,854 8,660 
Leasehold improvements13,984 13,533 
Total property and equipment, gross382,291 360,012 
Less: accumulated depreciation and amortization(208,855)(193,102)
Property and equipment, net$173,436 $166,910 
Total depreciation and amortization expense related to property and equipment was $16.9 million and $13.0 million for the three months ended March 31, 2022 and 2021, respectively.
The carrying value of goodwill is as follows (in thousands):
Balance at December 31, 2021$55,490 
Foreign currency translation adjustments(407)
Balance at March 31, 2022$55,083 
The carrying values of intangible assets are as follows (in thousands):
March 31, 2022December 31, 2021
Weighted-Average Remaining Useful LifeCostAccumulated
Amortization
Acquired
Intangibles, Net
CostAccumulated
Amortization
Acquired
Intangibles, Net
Customer relationships
1.3 years
$21,164 $16,551 $4,613 $21,333 $15,725 $5,608 
Developed technology
4.4 years
814,798 146,940 667,858 814,873 103,875 710,998 
Total acquired intangible assets$835,962 $163,491 $672,471 $836,206 $119,600 $716,606 
Amortization expense from acquired intangible assets for the three months ended March 31, 2022 and 2021 was $44.1 million and $11.6 million, respectively. Amortization of developed technology is included in cost of revenues and amortization of customer relationships is included in sales and marketing expenses in the Condensed Consolidated Statements of Operations.
Estimated amortization expense for acquired intangible assets for the following fiscal years is as follows (in thousands):
2022 (remaining)$128,666 
2023150,587 
2024147,056 
2025132,887 
2026 onwards113,275 
Total estimated amortization expense$672,471 
Accrued liabilities consisted of the following (in thousands):
March 31, 2022December 31, 2021
Accrued compensation and benefits$53,882 $48,911 
Accrued sales, use, and telecom related taxes33,390 30,463 
Accrued marketing56,048 52,547 
Operating lease liabilities, short-term18,973 18,686 
Other accrued expenses134,963 129,191 
Total accrued liabilities$297,256 $279,798 
Deferred and Prepaid Sales Commission Costs
Amortization expense for the deferred and prepaid sales commission costs was $23.2 million and $15.6 million for the three months ended March 31, 2022 and 2021, respectively. There was no impairment loss in relation to the costs capitalized for the periods presented.