Balance Sheet Components

9 Months Ended

Sep. 30, 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):

	September 30, 2021
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Loss		Fair Value
Commercial paper	$	47,355	$	—	$	—	$	47,355
Total	$	47,355	$	—	$	—	$	47,355
	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 September 30, 2021 and December 31, 2020. Realized gains and losses were not material for the three and nine months ended September 30, 2021 and 2020. As of September 30, 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):

	September 30, 2021		December 31, 2020
Internal-use software	$	31,674	$	24,513
Network hardware, computer equipment and software	91,615		62,764
Leasehold improvements	2,098		1,249
Furniture and fixtures	620		621
Property, equipment and software, gross	126,007		89,147
Less: accumulated depreciation and amortization	(74,080)		(59,103)
Total property, equipment and software, net	$	51,927	$	30,044

Depreciation and amortization expense related to property, equipment, and software (excluding amortization of internal use software) was $4.4 million and $2.6 million for the three months ended September 30, 2021 and 2020, respectively, and $10.7 million and $7.2 million for the nine months ended September 30, 2021 and 2020, respectively.

The Company capitalized $2.6 million and $1.6 million in software development costs during the three months ended September 30, 2021 and 2020, respectively, and $7.2 million and $5.1 million for the nine months ended

September 30, 2021 and 2020, respectively. Amortization expense of internal use software was $1.9 million and $1.6 million during the three months ended September 30, 2021 and 2020, respectively, and $5.3 million and $4.4 million for the nine months ended September 30, 2021 and 2020, 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 nine months ended September 30, 2021 and 2020, respectively.

Accounts Payable

Accounts payable consists of the following (in thousands):

	September 30, 2021		December 31, 2020
Payable to publishers	$	185,530	$	168,673
Other	9,802		8,058
Total accounts payable	$	195,332	$	176,731

Accrued Expenses

Accrued expenses consist of the following (in thousands):

	September 30, 2021		December 31, 2020
Accrued compensation	$	13,205	$	13,352
Accrued and other current liabilities	4,456		1,492
Total accrued expenses	$	17,661	$	14,844