Balance Sheet Components

3 Months Ended

Mar. 31, 2022

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, 2022
	Amortized Cost		Gross Unrealized Gain (Loss)		Fair Value
Commercial paper	$	55,282	$	—	$	55,282
U.S. Treasury and government debt securities	45,215		(239)		44,976
Total	$	100,497	$	(239)	$	100,258
	December 31, 2021
	Amortized Cost		Gross Unrealized Loss		Fair Value
Commercial paper	$	50,954	$	—	$	50,954
U.S. Treasury and government debt securities	26,203		(36)		26,167
Total	$	77,157	$	(36)	$	77,121

The remaining contractual maturity of all marketable securities was within one year as of March 31, 2022 and December 31, 2021. Realized gains and losses were inconsequential for the three months ended March 31, 2022 and 2021. As of March 31, 2022 and 2021, 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, 2022		December 31, 2021
Internal-use software	$	33,857	$	30,581
Network hardware, computer equipment and software	92,935		92,561
Leasehold improvements	2,508		2,426
Furniture and fixtures	1,448		1,448
Property, equipment and software, gross	130,748		127,016
Less: accumulated depreciation and amortization	(83,958)		(76,876)
Total property, equipment and software, net	$	46,790	$	50,140

Depreciation and amortization expense related to property, equipment, and software (excluding amortization of internal use software) was $5.0 million and $2.9 million for the three months ended March 31, 2022 and 2021, respectively.

The Company capitalized $3.3 million and $2.1 million in software development costs during the three months ended March 31, 2022 and 2021, respectively. Amortization expense of internal use software was $2.2 million and $1.6 million during the three months ended March 31, 2022 and 2021, 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, 2022 and 2021, respectively.

Accounts Payable

Accounts payable consists of the following (in thousands):

	March 31, 2022		December 31, 2021
Payable to publishers	$	177,032	$	235,440
Trade payables	8,980		8,881
Total accounts payable	$	186,012	$	244,321

Accrued Expenses

Accrued expenses consist of the following (in thousands):

	March 31, 2022		December 31, 2021
Accrued compensation	$	7,595	$	17,271
Accrued and other current liabilities	3,081		1,509
Total accrued expenses	$	10,676	$	18,780