Balance Sheet Components

3 Months Ended

Mar. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Balance Sheet Components

Balance Sheet Components

Marketable Securities

The following table summarizes the Company’s marketable securities by significant investment categories (in thousands):

	March 31, 2021
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Loss		Fair Value
Commercial paper	$	30,371	$	—	$	—	$	30,371
U.S. Treasury and government debt securities	$	3,000	$	—	$	—	$	3,000
Total	$	33,371	$	—	$	—	$	33,371
	December 31, 2020
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Loss		Fair Value
Commercial paper	$	10,794	$	—	$	—	$	10,794
U.S. Treasury and government debt securities	$	8,998	$	1	$	—	$	8,999
Total	$	19,792	$	1	$	—	$	19,793

The remaining contractual maturity of all marketable securities was within one year as of March 31, 2021 and December 31, 2020. Realized gains and losses were not material for the three months ended March 31, 2021 and 2020. As of March 31, 2021 and 2020, there were no securities that were in an unrealized loss position for more than twelve months.

Property, Equipment and Software, Net

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

	March 31, 2021		December 31, 2020
Internal-use software	$	26,618	$	24,513
Network hardware, computer equipment and software	68,917		62,764
Leasehold improvements	1,299		1,249
Furniture and fixtures	623		621
Property, equipment and software, gross	97,457		89,147
Less: accumulated depreciation and amortization	(63,499)		(59,103)
Total property, equipment and software, net	$	33,958	$	30,044

Depreciation and amortization expense related to property, equipment, and software (excluding amortization of internal use software) was $2.9 million and $2.2 million for the three months ended March 31, 2021 and 2020, respectively.

The Company capitalized $2.1 million and $1.7 million in software development costs during the three months ended March 31, 2021 and 2020, respectively. Amortization expense of internal use software was $1.6 million and $1.4 million, respectively. These costs are included within cost of revenue in the condensed consolidated statements of operations and comprehensive income.

The Company did not recognize any impairment charges on its long-lived assets during the three months ended March 31, 2021 and 2020, respectively.

Accounts Payable

Accounts payable consists of the following (in thousands):

	March 31, 2021		December 31, 2020
Payable to publishers	$	127,174	$	168,673
Other	8,829		8,058
Total accounts payable	$	136,003	$	176,731

Accrued Expenses

Accrued expenses consist of the following (in thousands):

	March 31, 2021		December 31, 2020
Accrued compensation	$	6,256	$	13,352
Accrued and other current liabilities	2,994		1,492
Total accrued expenses	$	9,250	$	14,844