Balance Sheet Components

3 Months Ended

Mar. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Balance Sheet Components

Balance Sheet Components

Marketable Securities

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

	March 31, 2023
	Amortized Cost		Unrealized Gain		Unrealized Loss		Fair Value
Commercial paper	$	59,745	$	—	$	—	$	59,745
Agency debt securities	14,556		14		—		14,570
U.S. Treasury and government debt securities	19,623		5		(11)		19,617
Total	$	93,924	$	19	$	(11)	$	93,932
	December 31, 2022
	Amortized Cost		Unrealized Gain		Unrealized Loss		Fair Value
Commercial paper	$	63,483	$	—	$	—	$	63,483
Agency debt securities	5,762		17		—		5,779
U.S. Treasury and government debt securities	12,777		2		(28)		12,751
Total	$	82,022	$	19	$	(28)	$	82,013

The remaining contractual maturity of all marketable securities was within one year as of March 31, 2023 and December 31, 2022. Realized gains and losses were immaterial for the three months ended March 31, 2023 and 2022. As of March 31, 2023 and 2022, 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 consisted of the following (in thousands):

	March 31, 2023		December 31, 2022
Internal-use software	$	46,393	$	40,794
Network hardware, computer equipment and software	130,963		129,212
Leasehold improvements	4,143		4,026
Furniture and fixtures	2,123		2,087
Property, equipment and software, gross	183,622		176,119
Less: accumulated depreciation and amortization	(115,069)		(104,963)
Total property, equipment and software, net	$	68,553	$	71,156

Depreciation and amortization expense related to property, equipment, and software (excluding amortization of internal-use software) was $7.3 million and $5.0 million for the three months ended March 31, 2023 and 2022, respectively.

The Company capitalized $5.4 million and $3.3 million in software development costs during the three months ended March 31, 2023 and 2022, respectively. Amortization expense of internal-use software was $2.8 million and $2.2 million during the three months ended March 31, 2023 and 2022, respectively. These costs are included within cost of revenue in the condensed consolidated statements of operations.

The Company did not recognize any impairment charges on its long-lived assets during the three months ended March 31, 2023 and 2022, respectively.

Accounts Payable

Accounts payable consisted of the following (in thousands):

	March 31, 2023		December 31, 2022
Payable to publishers	$	216,264	$	266,506
Trade payables	6,315		10,908
Total accounts payable	$	222,579	$	277,414

Accrued Liabilities

Accrued liabilities consisted of the following (in thousands):

	March 31, 2023		December 31, 2022
Accrued compensation	$	9,899	$	14,587
Accrued and other current liabilities	9,415		4,349
Total accrued liabilities	$	19,314	$	18,936