Datadog, Inc(NASDAQ:DDOG) 
Datadog, Inc. provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. The company's SaaS platform integrates and automates infrastructure monitoring, application performance monitoring, ...
Website: https://www.datadoghq.com/
Founded: 2010
IPO Price: $27 (Sep 19, 2019)
Full Time Employees: 5,200 (Dec 2023)
Founder: Olivier Pomel / Alexis Lê-Quôc
CEO: Olivier Pomel
Sector: Technology
Industry: Software-Application
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At a glance:
- Unified Observability and Security Platform: Datadog offers a comprehensive, cloud-native SaaS platform that unifies monitoring, security, and analytics across an organization's entire technology stack, from infrastructure to applications.
- Subscription-Based SaaS with Strong Customer Expansion: The company operates on a recurring revenue model, characterized by high customer retention and significant expansion within existing accounts as clients adopt more products and scale their cloud usage.
- Leader in a Growing Cloud Observability Market: Datadog holds a strong competitive position in the expanding market for cloud observability and security, driven by its broad product suite, ease of integration, and developer-friendly approach.
- High Gross Margins and Strategic R&D Investment: The company typically exhibits strong gross margins, enabling substantial investment in research and development to innovate, expand its platform capabilities, and maintain its competitive edge.
Bull Thesis:
- Comprehensive Platform & Expanding TAM: Datadog's unified platform for observability, security, and developer experience allows it to consolidate tools, increase wallet share, and expand into new high-growth areas like security, CI/CD, and data management, significantly expanding its total addressable market (TAM).
- Strong Customer Retention & Upselling: High net retention rates and the increasing adoption of multiple products by existing customers demonstrate the platform's stickiness and value. This multi-product strategy drives predictable revenue growth and indicates deep integration into customer workflows.
- Cloud Migration & Digital Transformation Tailwinds: The ongoing global shift to cloud-native architectures, microservices, and serverless computing creates a persistent and growing demand for sophisticated monitoring, security, and analytics solutions, positioning Datadog as a critical enabler of digital transformation.
- Consistent Innovation & Product Leadership: Datadog's rapid pace of innovation, with frequent new product releases and feature enhancements, ensures it remains at the forefront of the observability and security markets, attracting new customers and deepening engagement with existing ones, while staying ahead of competitors.
Bear Thesis:
- Intense Competition & Pricing Pressure: The observability and security markets are highly competitive, with established players (e.g., Splunk, Dynatrace, New Relic) and new entrants, as well as cloud provider native tools (AWS CloudWatch, Azure Monitor). This could lead to pricing pressure, increased sales & marketing expenses, and slower market share gains.
- Consumption-Based Pricing Volatility & Optimization: Datadog's consumption-based pricing model, while driving growth, can be susceptible to customer optimization efforts (e.g., reducing data ingestion, optimizing cloud spend) or macroeconomic slowdowns, leading to revenue deceleration and forecasting challenges.
- Macroeconomic Headwinds & IT Spending Cuts: A challenging economic environment could lead enterprises to reduce overall IT spending, delay new projects, or consolidate vendors to cut costs. This directly impacts Datadog's growth rates, customer acquisition, and expansion opportunities.
- High Valuation & Growth Deceleration Concerns: Despite recent market corrections, Datadog's valuation (e.g., Price/Sales multiple) remains premium compared to many software peers. Any significant deceleration in its impressive historical growth rates could lead to further multiple compression and investor re-evaluation.
Main Competitors:
- New Relic, Inc. (New Relic One), A direct competitor across the entire observability stack, offering Application Performance Monitoring (APM), infrastructure monitoring, log management, real user monitoring (RUM), and synthetic monitoring. New Relic competes on comprehensive coverage and ease of use, often targeting similar cloud-native and hybrid environments.
- Dynatrace, Inc. ($DT) (Dynatrace Platform), Competes with a comprehensive, AI-driven observability platform that includes APM, infrastructure monitoring, log management, RUM, and security capabilities. Dynatrace often targets larger enterprises with complex environments, emphasizing automation, root-cause analysis, and advanced AI features.
- Splunk Inc. (Splunk Cloud Platform (including SignalFx)), Historically strong in log management and Security Information and Event Management (SIEM), Splunk expanded into APM and infrastructure monitoring through its acquisition of SignalFx. It competes with Datadog in log analytics, security monitoring, and increasingly in full-stack observability for enterprise customers.
- Elastic N.V. ($ESTC) (Elastic Stack (ELK Stack) and Elastic Cloud), Offers a popular open-source-based observability solution (Elasticsearch, Logstash, Kibana) for logs, metrics, and APM, along with commercial features and a managed cloud service (Elastic Cloud). Elastic competes on cost-effectiveness, flexibility, and strong search/analytics capabilities, particularly for log management and security analytics.
- Amazon Web Services (AWS) ($AMZN) (Amazon CloudWatch), As a major cloud provider, AWS offers native monitoring services like CloudWatch for collecting and tracking metrics, collecting and monitoring log files, and setting alarms. While not a direct full-stack competitor, it provides essential monitoring for AWS-native workloads, often used alongside or as an alternative to third-party tools like Datadog for specific use cases.
Moat:
Datadog's competitive moat stems from its unified, user-friendly platform that consolidates a wide array of monitoring, observability, and security capabilities into a single pane of glass. Its extensive integrations, strong developer experience, and rapid feature velocity contribute to high customer stickiness. However, the observability market is intensely competitive, with rivals ranging from comprehensive SaaS platforms like Dynatrace and New Relic, to log-centric players like Splunk, open-source ecosystems like Elastic, and native cloud provider tools. Competition often revolves around breadth of coverage, AI-driven insights, cost-effectiveness, and ease of deployment across hybrid and multi-cloud environments.
Income Statements:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
revenue | 953,194,000 | 885,651,000 | 826,760,000 | 761,553,000 | 737,727,000 | 690,016,000 | 645,279,000 | 611,253,000 | 589,649,000 | 547,536,000 | 509,460,000 | 481,714,000 | 469,399,000 | 436,533,000 | 406,138,000 | 363,030,000 | 326,198,000 | 270,488,000 | 233,549,000 | 198,549,000 | 177,531,000 | 154,675,000 | 140,012,000 | 131,248,000 | 113,644,000 | 95,864,000 |
yoy | 29.21% | 28.35% | 28.12% | 24.59% | 25.11% | 26.02% | 26.66% | 26.89% | 25.62% | 25.43% | 25.44% | 32.69% | 43.90% | 61.39% | 73.90% | 82.84% | 83.74% | 74.88% | 66.81% | 51.28% | 56.22% | 61.35% | ||||
qoq | 7.63% | 7.12% | 8.56% | 3.23% | 6.91% | 6.93% | 5.57% | 3.66% | 7.69% | 7.47% | 5.76% | 2.62% | 7.53% | 7.48% | 11.87% | 11.29% | 20.60% | 15.82% | 17.63% | 11.84% | 14.78% | 10.47% | 6.68% | 15.49% | 18.55% | |
cost of revenue | 186,894,000 | 176,457,000 | 165,978,000 | 157,628,000 | 144,178,000 | 137,756,000 | 123,499,000 | 110,098,000 | 104,829,000 | 103,319,000 | 101,846,000 | 99,914,000 | 96,757,000 | 93,599,000 | 81,925,000 | 74,462,000 | 67,149,000 | 63,332,000 | 57,098,000 | 46,666,000 | 40,857,000 | 33,984,000 | 28,878,000 | 26,479,000 | 25,724,000 | 23,297,000 |
gross profit | 766,300,000 | 709,194,000 | 660,782,000 | 603,925,000 | 593,549,000 | 552,260,000 | 521,780,000 | 501,155,000 | 484,820,000 | 444,217,000 | 407,614,000 | 381,800,000 | 372,642,000 | 342,934,000 | 324,213,000 | 288,568,000 | 259,049,000 | 207,156,000 | 176,451,000 | 151,883,000 | 136,674,000 | 120,691,000 | 111,134,000 | 104,769,000 | 87,920,000 | 72,567,000 |
yoy | 29.10% | 28.42% | 26.64% | 20.51% | 22.43% | 24.32% | 28.01% | 31.26% | 30.10% | 29.53% | 25.72% | 32.31% | 43.85% | 65.54% | 83.74% | 89.99% | 89.54% | 71.64% | 58.77% | 44.97% | 55.45% | 66.32% | ||||
qoq | 8.05% | 7.33% | 9.41% | 1.75% | 7.48% | 5.84% | 4.12% | 3.37% | 9.14% | 8.98% | 6.76% | 2.46% | 8.66% | 5.77% | 12.35% | 11.40% | 25.05% | 17.40% | 16.18% | 11.13% | 13.24% | 8.60% | 6.08% | 19.16% | 21.16% | |
gross margin % | 80.39% | 80.08% | 79.92% | 79.30% | 80.46% | 80.04% | 80.86% | 81.99% | 82.22% | 81.13% | 80.01% | 79.26% | 79.39% | 78.56% | 79.83% | 79.49% | 79.41% | 76.59% | 75.55% | 76.50% | 76.99% | 78.03% | 79.37% | 79.83% | 77.36% | 75.70% |
operating expenses: | ||||||||||||||||||||||||||
research and development | 417,926,000 | 401,982,000 | 387,482,000 | 341,061,000 | 316,314,000 | 291,802,000 | 274,599,000 | 269,988,000 | 253,250,000 | 240,225,000 | 239,494,000 | 229,478,000 | 218,656,000 | 205,388,000 | 177,699,000 | 150,608,000 | 133,049,000 | 112,675,000 | 94,779,000 | 79,266,000 | 67,698,000 | 56,440,000 | 45,664,000 | 40,824,000 | 35,894,000 | 28,684,000 |
sales and marketing | 264,377,000 | 238,729,000 | 239,026,000 | 214,291,000 | 207,947,000 | 187,772,000 | 187,005,000 | 173,881,000 | 159,980,000 | 156,870,000 | 147,455,000 | 144,971,000 | 149,359,000 | 129,493,000 | 115,270,000 | 101,166,000 | 88,905,000 | 75,827,000 | 70,412,000 | 64,353,000 | 60,034,000 | 57,142,000 | 51,269,000 | 45,215,000 | 41,596,000 | 38,836,000 |
general and administrative | 74,641,000 | 74,292,000 | 69,774,000 | 60,993,000 | 59,896,000 | 52,408,000 | 47,558,000 | 45,290,000 | 43,848,000 | 51,352,000 | 42,671,000 | 42,321,000 | 39,255,000 | 39,395,000 | 34,383,000 | 26,380,000 | 28,640,000 | 23,549,000 | 21,146,000 | 21,094,000 | 17,880,000 | 16,376,000 | 13,547,000 | 14,952,000 | 12,696,000 | 9,265,000 |
total operating expenses | 756,944,000 | 715,003,000 | 696,282,000 | 616,345,000 | 584,157,000 | 531,982,000 | 509,162,000 | 489,159,000 | 457,078,000 | 448,447,000 | 429,620,000 | 416,770,000 | 407,270,000 | 374,276,000 | 327,352,000 | 278,154,000 | 250,594,000 | 212,051,000 | 186,337,000 | 164,713,000 | 145,612,000 | 129,958,000 | 110,480,000 | 100,991,000 | 90,186,000 | 76,785,000 |
operating income | 9,356,000 | -5,809,000 | -35,500,000 | -12,420,000 | 9,392,000 | 20,278,000 | 12,618,000 | 11,996,000 | 27,742,000 | -4,230,000 | -22,006,000 | -34,970,000 | -34,628,000 | -31,342,000 | -3,139,000 | 10,414,000 | 8,455,000 | -4,895,000 | -9,886,000 | -12,830,000 | -8,938,000 | -9,267,000 | 654,000 | 3,778,000 | -2,266,000 | -4,218,000 |
yoy | -0.38% | -128.65% | -381.34% | -203.53% | -66.15% | -579.39% | -157.34% | -134.30% | -180.11% | -86.50% | 601.05% | -435.80% | -509.56% | 540.29% | -68.25% | -181.17% | -194.60% | -47.18% | -1611.62% | -439.60% | 294.44% | 119.70% | ||||
qoq | -261.06% | -83.64% | 185.83% | -232.24% | -53.68% | 60.71% | 5.19% | -56.76% | -755.84% | -80.78% | -37.07% | 0.99% | 10.48% | 898.47% | -130.14% | 23.17% | -272.73% | -50.49% | -22.95% | 43.54% | -3.55% | -1516.97% | -82.69% | -266.73% | -46.28% | |
operating margin % | 0.98% | -0.66% | -4.29% | -1.63% | 1.27% | 2.94% | 1.96% | 1.96% | 4.70% | -0.77% | -4.32% | -7.26% | -7.38% | -7.18% | -0.77% | 2.87% | 2.59% | -1.81% | -4.23% | -6.46% | -5.03% | -5.99% | 0.47% | 2.88% | -1.99% | -4.40% |
other income: | ||||||||||||||||||||||||||
interest expense | -2,600,000 | -2,421,000 | -3,075,000 | -2,963,000 | -2,643,000 | -1,574,000 | -1,477,000 | -1,374,000 | -1,292,000 | -1,303,000 | -1,526,000 | -2,181,000 | -3,019,000 | -3,728,000 | -4,541,000 | -5,247,000 | -5,604,000 | -4,912,000 | -5,064,000 | -5,472,000 | -13,010,000 | -12,423,000 | -4,294,000 | |||
interest income and other income | 46,714,000 | 43,897,000 | 44,663,000 | 47,179,000 | 47,077,000 | 37,432,000 | 36,652,000 | 35,563,000 | 30,817,000 | 29,833,000 | 22,624,000 | 16,727,000 | 11,793,000 | 12,011,000 | 7,669,000 | 5,687,000 | 5,681,000 | 5,040,000 | 5,292,000 | 5,773,000 | 6,781,000 | 7,135,000 | 4,466,000 | |||
other income | 44,114,000 | 41,476,000 | 41,588,000 | 44,216,000 | 44,434,000 | 35,858,000 | 35,175,000 | 34,189,000 | 29,525,000 | 28,530,000 | 21,098,000 | 14,546,000 | 8,774,000 | 8,283,000 | 3,128,000 | 440,000 | 77,000 | 128,000 | 228,000 | 301,000 | -6,229,000 | -5,288,000 | 172,000 | 2,896,000 | 3,518,000 | 90,000 |
income before provision for income taxes | 53,470,000 | 35,667,000 | 6,088,000 | 31,796,000 | 53,826,000 | 56,136,000 | 47,793,000 | 46,185,000 | 57,267,000 | 24,300,000 | -908,000 | -20,424,000 | -25,854,000 | -23,059,000 | 10,854,000 | 8,532,000 | -4,767,000 | -12,529,000 | -15,167,000 | -14,555,000 | 826,000 | 6,674,000 | 1,252,000 | -4,128,000 | ||
provision for income taxes | 6,903,000 | 1,782,000 | 3,441,000 | 7,154,000 | 8,232,000 | 4,439,000 | 3,969,000 | 3,554,000 | 20,060,000 | -1,670,000 | -3,061,000 | -3,662,000 | -3,180,000 | -2,926,000 | -1,116,000 | -1,363,000 | -717,000 | -539,000 | -993,000 | -595,000 | -542,000 | -195,000 | -361,000 | -33,000 | ||
net income | 46,567,000 | 33,885,000 | 2,647,000 | 24,642,000 | 45,594,000 | 51,697,000 | 43,824,000 | 42,631,000 | 53,993,000 | 22,630,000 | -3,969,000 | -24,086,000 | -29,034,000 | -25,985,000 | -4,879,000 | 9,738,000 | 7,169,000 | -5,484,000 | -9,362,000 | -13,068,000 | -16,160,000 | -15,150,000 | 284,000 | 6,479,000 | 891,000 | -4,161,000 |
yoy | 2.13% | -34.45% | -93.96% | -42.20% | -15.56% | 128.44% | -1204.16% | -276.99% | -285.96% | -187.09% | -18.65% | -347.34% | -504.99% | 373.83% | -47.89% | -174.52% | -144.36% | -63.80% | -3396.48% | -301.70% | -1913.69% | 264.10% | ||||
qoq | 37.43% | 1180.13% | -89.26% | -45.95% | -11.81% | 17.97% | 2.80% | -21.04% | 138.59% | -670.17% | -83.52% | -17.04% | 11.73% | 432.59% | -150.10% | 35.83% | -230.73% | -41.42% | -28.36% | -19.13% | 6.67% | -5434.51% | -95.62% | 627.16% | -121.41% | |
net income margin % | 4.89% | 3.83% | 0.32% | 3.24% | 6.18% | 7.49% | 6.79% | 6.97% | 9.16% | 4.13% | -0.78% | -5.00% | -6.19% | -5.95% | -1.20% | 2.68% | 2.20% | -2.03% | -4.01% | -6.58% | -9.10% | -9.79% | 0.20% | 4.94% | 0.78% | -4.34% |
net income attributable to common stockholders | 46,567,000 | 33,885,000 | 2,647,000 | 24,642,000 | 45,594,000 | 51,697,000 | 43,824,000 | 42,631,000 | 53,993,000 | 22,630,000 | -3,969,000 | -24,086,000 | -29,034,000 | -25,985,000 | -4,879,000 | 9,738,000 | 7,169,000 | -5,484,000 | -9,362,000 | -13,068,000 | -16,160,000 | -15,150,000 | 284,000 | 6,479,000 | 891,000 | -4,161,000 |
basic net income per share | 0.13 | 0.1 | 0.01 | 0.07 | 0.14 | 0.15 | 0.13 | 0.13 | 0.17 | 0.07 | -0.01 | -0.08 | -0.018 | -0.08 | -0.02 | 0.03 | -0.03 | -0.04 | 0.02 | |||||||
diluted net income per share | 0.13 | 0.1 | 0.01 | 0.07 | 0.13 | 0.14 | 0.12 | 0.12 | 0.16 | 0.06 | -0.01 | -0.08 | -0.018 | -0.08 | -0.02 | 0.03 | -0.03 | -0.04 | 0.02 | |||||||
weighted-average shares used for eps calculation | 347,309 | 348,645 | 346,185 | 343,097 | 336,172 | 337,562 | 334,941 | 331,806 | 324,033 | 325,557 | 322,215 | 319,286 | 315,410 | 315,990 | 314,795 | 313,456 | 309,048 | 310,247 | 308,019 | 306,034 | 300,350 | 302,554 | 299,267 | 295,455 | 139,873 | 103,876 |
income before benefit from income taxes | -11,000 | -9,658,000 | ||||||||||||||||||||||||
benefit from income taxes | -4,868,000 | 296,000 | ||||||||||||||||||||||||
basic and diluted net loss per share | 0.02 | -0.02 | -0.05 | -0.05 | 0.08 | -0.04 | ||||||||||||||||||||
other comprehensive income—foreign currency translation adjustments | -21,250 | -45,000 | ||||||||||||||||||||||||
comprehensive loss | -4,421,500 | -4,206,000 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | ||||||||||||||||||||||||||
current assets: | ||||||||||||||||||||||||||
cash and cash equivalents | 401,305,000 | 540,602,000 | 489,030,000 | 1,079,854,000 | 1,246,983,000 | 337,418,000 | 410,963,000 | 282,218,000 | 330,339,000 | 261,309,000 | 291,304,000 | 222,548,000 | 338,985,000 | 294,815,000 | 238,859,000 | 271,686,000 | 270,973,000 | 286,966,000 | 247,442,000 | 369,706,000 | 224,927,000 | 198,523,000 | 206,202,000 | 194,350,000 | 597,297,000 | 760,945,000 |
marketable securities | 4,073,531,000 | 3,599,737,000 | 3,421,940,000 | 3,369,820,000 | 2,942,076,000 | 2,861,536,000 | 2,549,143,000 | 2,499,151,000 | 2,252,559,000 | 2,080,380,000 | 1,894,058,000 | 1,795,342,000 | 1,545,341,000 | 1,471,448,000 | 1,464,681,000 | 1,399,323,000 | 1,283,473,000 | 1,180,160,000 | 1,162,717,000 | 1,178,190,000 | 1,292,532,000 | 1,296,261,000 | 1,259,597,000 | 600,384,000 | 176,674,000 | |
accounts receivable | 741,262,000 | 549,648,000 | 604,174,000 | 490,172,000 | 598,919,000 | 487,064,000 | 533,292,000 | 451,057,000 | 509,279,000 | 400,649,000 | 333,102,000 | 367,046,000 | 399,551,000 | 348,830,000 | 305,501,000 | 275,342,000 | 268,824,000 | 224,602,000 | 188,326,000 | 154,111,000 | 163,359,000 | 120,992,000 | 124,078,000 | 108,437,000 | 102,394,000 | 87,208,000 |
deferred contract costs, current | 76,022,000 | 67,201,000 | 62,090,000 | 58,832,000 | 56,095,000 | 52,225,000 | 49,518,000 | 46,391,000 | 44,938,000 | 39,805,000 | 37,502,000 | 34,858,000 | 33,054,000 | 29,873,000 | 27,345,000 | 24,688,000 | 23,235,000 | 19,933,000 | 17,612,000 | 15,446,000 | 13,638,000 | 11,544,000 | 10,927,000 | 9,314,000 | 8,346,000 | 6,151,000 |
prepaid expenses and other current assets | 90,160,000 | 80,917,000 | 67,442,000 | 77,660,000 | 67,042,000 | 51,191,000 | 49,174,000 | 54,846,000 | 41,022,000 | 37,341,000 | 44,104,000 | 43,198,000 | 27,303,000 | 31,603,000 | 33,202,000 | 32,632,000 | 24,443,000 | 24,675,000 | 26,289,000 | 29,404,000 | 23,624,000 | 25,655,000 | 25,268,000 | 20,580,000 | 19,231,000 | 18,172,000 |
total current assets | 5,382,280,000 | 4,838,105,000 | 4,644,676,000 | 5,076,338,000 | 4,911,115,000 | 3,789,434,000 | 3,592,090,000 | 3,333,663,000 | 3,178,137,000 | 2,819,484,000 | 2,600,070,000 | 2,462,992,000 | 2,344,234,000 | 2,176,569,000 | 2,069,588,000 | 2,003,671,000 | 1,870,948,000 | 1,736,336,000 | 1,642,386,000 | 1,746,857,000 | 1,718,080,000 | 1,652,975,000 | 1,626,072,000 | 933,065,000 | 903,942,000 | 872,476,000 |
property and equipment | 338,093,000 | 307,609,000 | 283,084,000 | 249,916,000 | 226,970,000 | 215,810,000 | 198,911,000 | 182,419,000 | 171,872,000 | 157,689,000 | 145,100,000 | 138,400,000 | 125,346,000 | 110,889,000 | 97,791,000 | 90,713,000 | 75,152,000 | 68,820,000 | 60,511,000 | 52,805,000 | 47,197,000 | 42,059,000 | 37,164,000 | 34,084,000 | 32,749,000 | 31,266,000 |
operating lease assets | 214,674,000 | 218,682,000 | 215,626,000 | 203,074,000 | 172,512,000 | 168,610,000 | 166,941,000 | 173,270,000 | 126,562,000 | 121,913,000 | 122,198,000 | 94,723,000 | 87,629,000 | 88,930,000 | 64,016,000 | 61,921,000 | 61,355,000 | 61,972,000 | 49,233,000 | 53,117,000 | 57,829,000 | 55,365,000 | 58,188,000 | 51,286,000 | 53,002,000 | 55,695,000 |
goodwill | 530,568,000 | 530,043,000 | 530,982,000 | 361,738,000 | 360,381,000 | 352,870,000 | 350,864,000 | 351,437,000 | 352,694,000 | 348,697,000 | 350,029,000 | 348,536,000 | 348,277,000 | 332,649,000 | 334,687,000 | 292,032,000 | 292,176,000 | 255,735,000 | 258,682,000 | 48,479,000 | 17,609,000 | 17,211,000 | 16,860,000 | 8,891,000 | 9,058,000 | 7,626,000 |
intangible assets | 14,968,000 | 16,810,000 | 17,239,000 | 2,626,000 | 3,711,000 | 4,424,000 | 5,804,000 | 7,312,000 | 9,617,000 | 10,145,000 | 12,409,000 | 14,152,000 | 16,365,000 | 15,616,000 | 17,960,000 | 14,088,000 | 15,704,000 | 12,803,000 | 11,743,000 | 3,414,000 | 2,069,000 | 2,327,000 | 2,586,000 | 1,176,000 | 1,435,000 | 759,000 |
deferred contract costs, non-current | 126,708,000 | 105,943,000 | 95,568,000 | 90,501,000 | 86,573,000 | 79,996,000 | 77,040,000 | 73,067,000 | 73,728,000 | 62,976,000 | 60,511,000 | 56,636,000 | 55,338,000 | 50,154,000 | 46,840,000 | 42,753,000 | 42,062,000 | 35,508,000 | 31,624,000 | 27,874,000 | 26,750,000 | 22,667,000 | 21,438,000 | 18,875,000 | 17,409,000 | 12,064,000 |
other assets | 36,553,000 | 35,278,000 | 35,240,000 | 26,188,000 | 24,077,000 | 20,327,000 | 20,741,000 | 20,298,000 | 23,462,000 | 22,398,000 | 21,856,000 | 24,305,000 | 24,360,000 | 19,777,000 | 20,391,000 | 20,413,000 | 19,907,000 | 19,427,000 | 18,892,000 | 15,915,000 | 16,967,000 | 18,073,000 | 17,947,000 | 15,897,000 | 16,990,000 | 17,360,000 |
total assets | 6,643,844,000 | 6,052,470,000 | 5,822,415,000 | 6,010,381,000 | 5,785,339,000 | 4,631,471,000 | 4,412,391,000 | 4,141,466,000 | 3,936,072,000 | 3,543,302,000 | 3,312,173,000 | 3,139,744,000 | 3,004,852,000 | 2,797,603,000 | 2,654,487,000 | 2,529,015,000 | 2,380,794,000 | 2,194,173,000 | 2,076,733,000 | 1,952,074,000 | 1,890,285,000 | 1,814,284,000 | 1,783,706,000 | 1,066,656,000 | 1,038,041,000 | 1,006,753,000 |
liabilities and stockholders' equity | ||||||||||||||||||||||||||
current liabilities: | ||||||||||||||||||||||||||
accounts payable | 148,791,000 | 135,243,000 | 198,767,000 | 98,442,000 | 107,731,000 | 92,005,000 | 115,991,000 | 64,316,000 | 87,712,000 | 85,362,000 | 48,031,000 | 41,598,000 | 23,474,000 | 27,625,000 | 47,650,000 | 18,629,000 | 25,270,000 | 34,654,000 | 29,257,000 | 12,065,000 | 21,342,000 | 21,199,000 | 18,010,000 | 14,205,000 | 15,429,000 | 18,992,000 |
accrued expenses and other current liabilities | 209,595,000 | 175,198,000 | 148,028,000 | 138,238,000 | 127,136,000 | 120,234,000 | 104,791,000 | 117,412,000 | 127,631,000 | 101,837,000 | 127,009,000 | 148,530,000 | 171,158,000 | 146,290,000 | 111,622,000 | 108,211,000 | 111,284,000 | 85,173,000 | 70,524,000 | 68,476,000 | 55,351,000 | 54,383,000 | 46,016,000 | 41,755,000 | 38,746,000 | 30,481,000 |
operating lease liabilities, current | 39,369,000 | 35,989,000 | 39,955,000 | 34,228,000 | 31,970,000 | 27,342,000 | 24,565,000 | 23,591,000 | 21,974,000 | 18,777,000 | 18,852,000 | 20,397,000 | 22,092,000 | 21,751,000 | 22,357,000 | 20,320,000 | 20,157,000 | 19,425,000 | 16,626,000 | 16,626,000 | 16,326,000 | 15,058,000 | 14,524,000 | 13,436,000 | 11,916,000 | 10,222,000 |
convertible senior notes, net, current | 634,780,000 | 634,023,000 | 744,858,000 | 743,970,000 | 743,085,000 | 742,235,000 | 741,386,000 | 740,538,000 | 739,692,000 | 738,847,000 | 738,003,000 | 737,160,000 | 736,318,000 | 735,482,000 | 734,643,000 | 733,805,000 | 732,968,000 | 575,864,000 | 567,683,000 | 559,621,000 | ||||||
deferred revenue, current | 1,193,646,000 | 974,264,000 | 966,442,000 | 949,135,000 | 961,853,000 | 795,824,000 | 801,562,000 | 767,474,000 | 765,735,000 | 636,500,000 | 567,470,000 | 562,429,000 | 543,024,000 | 478,742,000 | 444,247,000 | 454,812,000 | 371,985,000 | 300,950,000 | 264,650,000 | 223,647,000 | 204,825,000 | 164,010,000 | 162,858,000 | 141,242,000 | 134,148,000 | 116,966,000 |
total current liabilities | 1,591,401,000 | 1,320,694,000 | 1,353,192,000 | 1,854,823,000 | 1,862,713,000 | 1,780,263,000 | 1,790,879,000 | 972,793,000 | 1,003,052,000 | 842,476,000 | 761,362,000 | 772,954,000 | 759,748,000 | 674,408,000 | 625,876,000 | 601,972,000 | 528,696,000 | 440,202,000 | 381,057,000 | 320,814,000 | 297,844,000 | 254,650,000 | 241,408,000 | 210,638,000 | 200,239,000 | 176,661,000 |
operating lease liabilities, non-current | 256,187,000 | 260,926,000 | 243,115,000 | 227,974,000 | 196,905,000 | 197,044,000 | 193,835,000 | 190,891,000 | 138,128,000 | 127,800,000 | 125,694,000 | 86,242,000 | 76,582,000 | 76,934,000 | 51,771,000 | 51,817,000 | 52,106,000 | 53,189,000 | 42,448,000 | 46,620,000 | 51,433,000 | 49,675,000 | 52,881,000 | 46,042,000 | 48,510,000 | 51,684,000 |
convertible senior notes, net, non-current | 983,449,000 | 982,402,000 | 981,357,000 | 980,314,000 | 979,282,000 | |||||||||||||||||||||
deferred revenue, non-current | 68,711,000 | 29,028,000 | 29,866,000 | 21,560,000 | 22,693,000 | 18,404,000 | 14,049,000 | 26,191,000 | 21,210,000 | 17,505,000 | 27,534,000 | 22,506,000 | 12,944,000 | 9,455,000 | 14,526,000 | 12,798,000 | 13,896,000 | 3,266,000 | 1,277,000 | 5,628,000 | 3,450,000 | 2,444,000 | 2,417,000 | 3,940,000 | 4,340,000 | 4,827,000 |
other liabilities | 11,890,000 | 20,302,000 | 19,128,000 | 9,036,000 | 9,383,000 | 6,615,000 | 6,320,000 | 6,151,000 | 6,093,000 | 7,659,000 | 7,686,000 | 6,251,000 | 6,226,000 | 9,364,000 | 10,034,000 | 9,253,000 | 9,411,000 | 5,461,000 | 5,267,000 | 4,714,000 | 4,262,000 | 3,644,000 | 3,305,000 | 3,141,000 | 2,611,000 | 2,346,000 |
total liabilities | 2,911,638,000 | 2,613,352,000 | 2,626,658,000 | 3,093,707,000 | 3,070,976,000 | 2,002,326,000 | 2,005,083,000 | 1,939,111,000 | 1,910,718,000 | 1,736,826,000 | 1,662,814,000 | 1,627,645,000 | 1,594,347,000 | 1,508,164,000 | 1,439,367,000 | 1,412,158,000 | 1,339,591,000 | 1,236,761,000 | 1,163,854,000 | 1,110,744,000 | 932,853,000 | 878,096,000 | 870,835,000 | 263,761,000 | 255,700,000 | 235,518,000 |
commitments and contingencies | ||||||||||||||||||||||||||
stockholders' equity: | ||||||||||||||||||||||||||
class a common stock, 0.00001 par value per share... | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 | 1,000 | |
class b common stock, 0.00001 par value per share... | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 2,000 | 3,000 | ||||||||||||||||
additional paid-in capital | 3,579,010,000 | 3,335,703,000 | 3,130,130,000 | 2,860,643,000 | 2,689,013,000 | 2,632,085,000 | 2,484,264,000 | 2,321,119,000 | 2,181,267,000 | 2,028,053,000 | 1,891,995,000 | 1,744,221,000 | 1,625,190,000 | 1,487,992,000 | 1,380,873,000 | 1,271,777,000 | 1,197,136,000 | 1,116,872,000 | 1,065,835,000 | 985,004,000 | 1,103,305,000 | 1,065,543,000 | 1,027,656,000 | 921,091,000 | 905,821,000 | 895,793,000 |
accumulated other comprehensive income | 15,404,000 | 12,190,000 | 8,287,000 | 1,338,000 | 12,603,000 | -3,830,000 | -188,000 | 832,000 | 752,000 | 2,287,000 | 2,645,000 | 2,065,000 | -1,062,000 | 133,000 | -54,000 | |||||||||||
retained earnings | 137,789,000 | 91,222,000 | 57,337,000 | 54,690,000 | 30,048,000 | |||||||||||||||||||||
total stockholders’ equity | 3,732,206,000 | 3,439,118,000 | 3,195,757,000 | 2,916,674,000 | 2,714,363,000 | 2,629,145,000 | 2,407,308,000 | 2,202,355,000 | 2,025,354,000 | 1,806,476,000 | 1,649,359,000 | 1,512,099,000 | 1,410,505,000 | 1,289,439,000 | 1,215,120,000 | 1,116,857,000 | 1,041,203,000 | 957,412,000 | 912,879,000 | 841,330,000 | 957,432,000 | 936,188,000 | 912,871,000 | 802,895,000 | 782,341,000 | 771,235,000 |
total liabilities and stockholders' equity | 6,643,844,000 | 6,052,470,000 | 5,822,415,000 | 6,010,381,000 | 5,785,339,000 | 4,631,471,000 | 4,412,391,000 | 4,141,466,000 | 3,936,072,000 | 3,543,302,000 | 3,312,173,000 | 3,139,744,000 | 3,004,852,000 | 2,797,603,000 | 2,654,487,000 | 2,529,015,000 | 2,380,794,000 | 2,194,173,000 | 2,076,733,000 | 1,952,074,000 | 1,890,285,000 | 1,814,284,000 | 1,783,706,000 | 1,066,656,000 | ||
accumulated other comprehensive loss | -4,701,000 | -9,716,000 | -7,700,000 | -2,218,000 | -13,889,000 | -12,318,000 | -5,773,000 | -12,422,000 | -25,324,000 | -18,509,000 | -12,555,000 | |||||||||||||||
accumulated deficit | -15,546,000 | -67,243,000 | -111,067,000 | -153,698,000 | -207,691,000 | -230,321,000 | -226,352,000 | -202,266,000 | -173,232,000 | -147,247,000 | -142,368,000 | -152,106,000 | -159,275,000 | -153,791,000 | -144,429,000 | -148,163,000 | -132,003,000 | -116,853,000 | -117,137,000 | -123,616,000 | -124,507,000 | |||||
restricted cash | 3,303,000 | 3,019,000 | 3,214,000 | 3,424,000 | 3,490,000 | 3,572,000 | 3,662,000 | 3,613,000 | 3,784,000 | 3,607,000 | 3,451,000 | 3,382,000 | 3,456,000 | 9,507,000 | ||||||||||||
deferred tax liability | 11,203,000 | |||||||||||||||||||||||||
liabilities, convertible preferred stock and stockholders' equity | ||||||||||||||||||||||||||
convertible preferred stock: | ||||||||||||||||||||||||||
convertible preferred stock; 0.00001 par value per share... | ||||||||||||||||||||||||||
stockholders' equity | ||||||||||||||||||||||||||
preferred stock; 0.00001 par value per share... | ||||||||||||||||||||||||||
common stock, 0.00001 par value per share... | ||||||||||||||||||||||||||
total liabilities, convertible preferred stock and stockholders' equity | 1,038,041,000 | 1,006,753,000 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities: | |||||||||||||||||||||||||
net income | 46,567,000 | 33,885,000 | 2,647,000 | 24,642,000 | 45,594,000 | 51,697,000 | 43,824,000 | 42,631,000 | -3,969,000 | -24,086,000 | -4,879,000 | 9,738,000 | -9,362,000 | -13,068,000 | 284,000 | 6,479,000 | |||||||||
adjustments to reconcile net income to net cash from operating activities: | |||||||||||||||||||||||||
depreciation and amortization | 16,631,000 | 15,048,000 | 12,822,000 | 11,255,000 | 15,706,000 | 13,892,000 | 12,440,000 | 12,895,000 | 12,031,000 | 11,609,000 | 10,550,000 | 10,275,000 | 9,804,000 | 9,313,000 | 8,118,000 | 7,394,000 | 6,876,000 | 6,197,000 | 5,463,000 | 4,402,000 | 4,083,000 | 3,972,000 | 3,707,000 | 3,688,000 | 3,594,000 |
accretion of discounts on marketable securities | -12,364,000 | -10,855,000 | -10,927,000 | -10,370,000 | -12,844,000 | -12,569,000 | -14,126,000 | ||||||||||||||||||
amortization of issuance costs | 1,046,000 | 1,046,000 | 1,691,000 | 1,819,000 | 1,089,000 | 912,000 | 910,000 | 850,000 | 848,000 | 846,000 | 845,000 | 843,000 | 842,000 | 840,000 | 838,000 | 837,000 | 835,000 | ||||||||
net loss on conversion inducement and capped call settlement | |||||||||||||||||||||||||
amortization of deferred contract costs | 18,712,000 | 17,231,000 | 15,977,000 | 14,853,000 | 14,279,000 | 13,474,000 | 12,450,000 | 11,844,000 | 10,984,000 | 10,227,000 | 9,348,000 | 8,648,000 | 8,062,000 | 7,361,000 | 6,558,000 | 6,022,000 | 5,309,000 | 4,704,000 | 4,074,000 | 3,779,000 | 3,099,000 | 2,721,000 | 2,442,000 | 2,185,000 | 1,712,000 |
stock-based compensation, net of amounts capitalized | 205,386,000 | 200,558,000 | 180,462,000 | 164,265,000 | 158,461,000 | 142,190,000 | 134,652,000 | 135,033,000 | 128,121,000 | 123,114,000 | 118,337,000 | 112,728,000 | 112,509,000 | 101,362,000 | 82,399,000 | 66,884,000 | 56,366,000 | 43,995,000 | 34,515,000 | 28,861,000 | 24,764,000 | 20,716,000 | 16,834,000 | 12,060,000 | 9,018,000 |
non-cash lease expense | 9,001,000 | 9,060,000 | 9,001,000 | 8,389,000 | 7,002,000 | 6,670,000 | 6,781,000 | 6,810,000 | 7,050,000 | 7,136,000 | 6,252,000 | 5,944,000 | 6,180,000 | 5,550,000 | 5,275,000 | 4,411,000 | 4,596,000 | 4,544,000 | 4,049,000 | 4,012,000 | 4,056,000 | 3,453,000 | 3,325,000 | 3,226,000 | |
allowance for credit losses on accounts receivable | 4,642,000 | 3,967,000 | 3,895,000 | 4,520,000 | 4,473,000 | 3,800,000 | 3,842,000 | 2,732,000 | 2,836,000 | 2,786,000 | 2,579,000 | 3,732,000 | 1,286,000 | 1,998,000 | 1,133,000 | 798,000 | 1,085,000 | 699,000 | 502,000 | 25,000 | 627,000 | ||||
loss on disposal of property and equipment | -5,000 | 1,314,000 | 977,000 | -145,000 | 1,308,000 | 9,000 | 300,000 | 43,000 | 287,000 | -2,000 | 333,000 | 88,000 | 510,000 | 3,000 | 326,000 | 823,000 | 16,000 | 102,000 | 153,000 | 3,000 | 6,000 | -4,000 | 6,000 | 2,000 | 266,000 |
changes in operating assets and liabilities: | |||||||||||||||||||||||||
accounts receivable | -196,255,000 | 50,559,000 | -115,899,000 | 104,227,000 | -116,327,000 | 42,428,000 | -86,076,000 | 55,490,000 | -111,467,000 | -70,333,000 | 31,366,000 | 28,773,000 | -51,963,000 | -45,638,000 | -30,781,000 | -7,319,000 | -45,232,000 | -36,972,000 | -34,131,000 | 9,223,000 | -42,995,000 | 2,431,000 | -16,568,000 | -7,116,000 | -15,286,000 |
deferred contract costs | -48,298,000 | -32,718,000 | -24,301,000 | -21,519,000 | -24,725,000 | -19,153,000 | -19,534,000 | -12,636,000 | -26,869,000 | -14,994,000 | -15,868,000 | -11,750,000 | -16,427,000 | -13,202,000 | -13,303,000 | -8,166,000 | -15,165,000 | -10,909,000 | -9,990,000 | -6,711,000 | -9,276,000 | -4,567,000 | -6,618,000 | -4,619,000 | -9,252,000 |
prepaid expenses and other current assets | -9,263,000 | -13,116,000 | 11,343,000 | -10,263,000 | -16,581,000 | -1,630,000 | 5,632,000 | -14,075,000 | -3,194,000 | 6,509,000 | -1,013,000 | -15,810,000 | 4,715,000 | 1,349,000 | -4,238,000 | -8,391,000 | 204,000 | 1,596,000 | 3,461,000 | -5,998,000 | 2,418,000 | -340,000 | -5,077,000 | -1,404,000 | -570,000 |
other assets | -606,000 | -162,000 | -1,821,000 | -1,217,000 | -4,639,000 | 1,465,000 | -443,000 | 2,614,000 | -225,000 | -998,000 | 2,077,000 | 164,000 | -3,259,000 | -168,000 | -947,000 | -805,000 | -783,000 | -912,000 | -1,504,000 | 572,000 | 1,573,000 | 310,000 | -1,834,000 | 919,000 | -6,000 |
accounts payable | 12,329,000 | -61,341,000 | 96,352,000 | -10,712,000 | 17,034,000 | -22,994,000 | 48,692,000 | -17,122,000 | 505,000 | 32,371,000 | 6,352,000 | 18,545,000 | -3,769,000 | -20,696,000 | 30,803,000 | -7,624,000 | -9,354,000 | 5,060,000 | 16,598,000 | -9,226,000 | 133,000 | 3,714,000 | 4,083,000 | -1,391,000 | -1,729,000 |
accrued expenses and other liabilities | 20,481,000 | 30,010,000 | -3,250,000 | 5,648,000 | 4,083,000 | 10,147,000 | -8,423,000 | -7,433,000 | 27,753,000 | -24,153,000 | -16,009,000 | -28,080,000 | 10,228,000 | 31,660,000 | -1,399,000 | -2,911,000 | 18,044,000 | 11,918,000 | -2,374,000 | 9,682,000 | -2,914,000 | 5,236,000 | -377,000 | 2,025,000 | 8,366,000 |
deferred revenue | 259,065,000 | 6,984,000 | 21,086,000 | -13,851,000 | 170,265,000 | -1,382,000 | 21,946,000 | 6,720,000 | 132,937,000 | 58,998,000 | 10,073,000 | 28,966,000 | 67,246,000 | 29,348,000 | -9,685,000 | 81,735,000 | 81,416,000 | 38,287,000 | 35,578,000 | 21,000,000 | 41,824,000 | 1,177,000 | 19,903,000 | 6,884,000 | 16,694,000 |
net cash from operating activities | 327,069,000 | 251,470,000 | 200,055,000 | 271,541,000 | 265,228,000 | 228,681,000 | 164,424,000 | 212,270,000 | 220,226,000 | 152,783,000 | 153,158,000 | 133,787,000 | 114,441,000 | 83,618,000 | 72,960,000 | 147,388,000 | 115,793,000 | 67,379,000 | 51,723,000 | 51,650,000 | 23,828,000 | 36,270,000 | 24,738,000 | 24,255,000 | 17,430,000 |
capital expenditures | -36,048,000 | -37,518,000 | -34,702,000 | -27,150,000 | -24,256,000 | -25,077,000 | -20,644,000 | -25,523,000 | -18,936,000 | -14,594,000 | -11,426,000 | -17,450,000 | -18,090,000 | -16,518,000 | -12,794,000 | -17,487,000 | -9,110,000 | -10,296,000 | -9,438,000 | -7,181,000 | -7,176,000 | -7,629,000 | -6,135,000 | -4,943,000 | -6,572,000 |
free cash flows | 291,021,000 | 213,952,000 | 165,353,000 | 244,391,000 | 240,972,000 | 203,604,000 | 143,780,000 | 186,747,000 | 201,290,000 | 138,189,000 | 141,732,000 | 116,337,000 | 96,351,000 | 67,100,000 | 60,166,000 | 129,901,000 | 106,683,000 | 57,083,000 | 42,285,000 | 44,469,000 | 16,652,000 | 28,641,000 | 18,603,000 | 19,312,000 | 10,858,000 |
cash flows from investing activities: | |||||||||||||||||||||||||
purchases of marketable securities | -1,082,469,000 | -795,593,000 | -751,477,000 | -970,302,000 | -507,309,000 | -905,632,000 | -602,950,000 | -637,351,000 | -546,156,000 | -621,523,000 | -632,547,000 | -757,787,000 | -345,985,000 | -348,947,000 | -389,079,000 | -329,706,000 | -228,107,000 | -406,429,000 | -340,652,000 | -150,331,000 | -317,499,000 | -273,550,000 | -776,031,000 | -427,482,000 | |
maturities of marketable securities | 603,384,000 | 631,163,000 | 697,172,000 | 555,938,000 | 428,445,000 | 624,402,000 | 564,319,000 | 401,666,000 | 396,582,000 | 449,658,000 | 520,669,000 | 497,648,000 | 280,531,000 | 340,439,000 | 317,051,000 | 199,703,000 | 110,868,000 | 365,486,000 | 316,972,000 | 253,234,000 | 238,054,000 | 146,646,000 | 119,234,000 | 2,620,000 | |
proceeds from sale of marketable securities | 17,979,000 | -11,000 | 13,212,000 | -76,000 | 233,000 | -40,000 | 602,000 | -240,000 | 15,292,000 | 21,341,000 | 0 | 84,000 | -1,000 | 2,007,000 | 6,617,000 | 19,417,000 | 35,218,000 | 6,497,000 | 77,930,000 | ||||||
purchases of property and equipment | -8,892,000 | -16,786,000 | -15,152,000 | -8,748,000 | -7,761,000 | -8,385,000 | -4,415,000 | -14,158,000 | -10,395,000 | -6,113,000 | -2,339,000 | -8,739,000 | -10,054,000 | -9,706,000 | -5,987,000 | -9,514,000 | -2,405,000 | -3,324,000 | -3,229,000 | -998,000 | -1,079,000 | -1,412,000 | -1,398,000 | -1,526,000 | -3,502,000 |
capitalized software development costs | -27,156,000 | -20,732,000 | -19,550,000 | -18,402,000 | -16,495,000 | -16,692,000 | -16,229,000 | -11,365,000 | -8,541,000 | -8,481,000 | -9,087,000 | -8,711,000 | -8,036,000 | -6,812,000 | -6,807,000 | -7,973,000 | -6,705,000 | -6,972,000 | -6,209,000 | -6,183,000 | -6,097,000 | -6,217,000 | -4,737,000 | -3,417,000 | -3,070,000 |
cash paid for acquisition of businesses; net of cash acquired | -700,000 | -192,000 | -115,272,000 | -1,818,000 | -6,477,000 | -210,000 | -6,129,000 | -4,344,000 | -5,576,000 | -736,000 | -34,695,000 | -4,871,000 | -26,303,000 | 146,000 | -188,839,000 | -11,509,000 | 0 | 0 | |||||||
net cash from investing activities | -497,854,000 | -202,151,000 | -191,067,000 | -443,408,000 | -109,364,000 | -306,557,000 | -59,711,000 | -261,208,000 | -174,037,000 | -191,043,000 | -110,037,000 | -256,248,000 | -89,120,000 | -25,678,000 | -119,518,000 | -150,354,000 | -146,035,000 | -31,676,000 | -186,739,000 | 90,710,000 | -8,691,000 | -48,833,000 | -665,295,000 | -429,805,000 | -185,349,000 |
cash flows from financing activities: | |||||||||||||||||||||||||
proceeds from exercise of stock options | 1,809,000 | 1,271,000 | 1,685,000 | 1,673,000 | 2,243,000 | 1,257,000 | 1,753,000 | 2,191,000 | 3,505,000 | 9,870,000 | 5,436,000 | 2,098,000 | 1,734,000 | 1,816,000 | 2,206,000 | 4,245,000 | 4,256,000 | 4,489,000 | 2,887,000 | 3,275,000 | 3,631,000 | 5,119,000 | 4,422,000 | 2,813,000 | 593,000 |
proceeds from issuance of common stock under the employee stock purchase plan | 28,238,000 | 0 | 21,179,000 | 0 | 17,384,000 | 0 | 12,468,000 | 0 | 10,484,000 | 0 | 7,490,000 | 0 | |||||||||||||
proceeds from issuance of 2029 convertible senior notes, net of issuance costs | 0 | 0 | |||||||||||||||||||||||
proceeds from settlement of capped calls related to 2025 convertible senior notes | |||||||||||||||||||||||||
purchase of capped calls related to 2029 convertible senior notes | |||||||||||||||||||||||||
repayments of 2025 convertible senior notes | 0 | 0 | -635,527,000 | -20,000 | |||||||||||||||||||||
net cash from financing activities | 30,047,000 | 1,271,000 | -605,454,000 | 1,653,000 | 759,424,000 | 1,233,000 | 24,235,000 | 2,191,000 | 20,889,000 | 9,870,000 | 25,422,000 | 2,098,000 | 14,202,000 | 1,816,000 | 15,763,000 | 4,242,000 | 14,740,000 | 4,489,000 | 12,681,000 | 3,030,000 | 11,058,000 | 4,527,000 | 652,031,000 | 2,660,000 | -1,749,000 |
effect of exchange rate changes on cash and cash equivalents | 1,441,000 | 982,000 | 5,642,000 | 3,085,000 | |||||||||||||||||||||
net increase in cash and cash equivalents | -139,297,000 | 51,572,000 | |||||||||||||||||||||||
cash and cash equivalents—beginning of period | 0 | 0 | 0 | 1,246,983,000 | |||||||||||||||||||||
cash and cash equivalents—end of period | -139,297,000 | 51,572,000 | -590,824,000 | 1,079,854,000 | |||||||||||||||||||||
supplemental disclosures of cash flow information: | |||||||||||||||||||||||||
cash paid for income taxes | 2,321,000 | 4,022,000 | 7,648,000 | 3,658,000 | 5,182,000 | 989,000 | 10,175,000 | 4,647,000 | 2,342,000 | 3,486,000 | 7,655,000 | 3,022,000 | 513,000 | 696,000 | 47,000 | 339,000 | 547,000 | 396,000 | 216,000 | 327,000 | 224,000 | 44,000 | 108,000 | 34,000 | 46,000 |
supplemental disclosure of non-cash investing and financing activities: | |||||||||||||||||||||||||
accrued property and equipment purchases | 1,206,000 | -2,096,000 | 3,618,000 | 4,542,000 | 2,179,000 | -1,097,000 | 3,027,000 | 813,000 | 1,899,000 | 4,873,000 | -30,000 | 304,000 | -690,000 | 584,000 | -1,916,000 | 2,994,000 | 496,000 | 336,000 | 701,000 | 213,000 | -81,000 | -499,000 | 204,000 | 610,000 | -1,259,000 |
stock-based compensation included in capitalized software development costs | 8,091,000 | 3,744,000 | 5,957,000 | 5,662,000 | 1,871,000 | 4,375,000 | 4,260,000 | 2,646,000 | 2,289,000 | 3,071,000 | 4,010,000 | 4,227,000 | 4,093,000 | 3,920,000 | 3,334,000 | 3,506,000 | 2,898,000 | 2,550,000 | 2,059,000 | 2,153,000 | 1,883,000 | 1,220,000 | 198,000 | 103,000 | 64,000 |
issuance of restricted shares of common stock for the acquisition of businesses | 0 | 0 | 6,411,000 | 0 | 6,219,000 | 0 | 31,329,000 | 20,172,000 | 0 | 0 | |||||||||||||||
acquisition holdback | 0 | 0 | 16,022,000 | 50,000 | 0 | 0 | 2,650,000 | 0 | 4,360,000 | 0 | 0 | 1,195,000 | 0 | 0 | |||||||||||
net decrease in cash and cash equivalents | -167,129,000 | ||||||||||||||||||||||||
amortization of premiums on marketable securities | -15,365,000 | -12,965,000 | -8,096,000 | -5,195,000 | |||||||||||||||||||||
effect of exchange rate changes on cash, cash equivalents and restricted cash | -5,723,000 | 3,098,000 | -203,000 | -1,374,000 | 1,952,000 | -1,605,000 | 213,000 | 623,000 | 4,931,000 | -3,995,000 | -2,242,000 | -629,000 | -573,000 | -758,000 | 120,000 | -782,000 | 386,000 | 506,000 | 28,000 | -141,000 | |||||
net increase in cash, cash equivalents and restricted cash | 909,565,000 | -73,545,000 | 69,030,000 | -119,740,000 | 44,454,000 | 55,761,000 | -33,037,000 | 647,000 | -16,075,000 | 39,434,000 | -122,215,000 | 144,608,000 | 26,581,000 | -7,530,000 | 11,502,000 | -403,031,000 | -169,738,000 | ||||||||
cash, cash equivalents and restricted cash—beginning of period | 0 | 0 | 0 | 330,339,000 | 0 | 0 | 0 | 342,288,000 | 0 | 0 | 0 | 274,463,000 | 0 | 0 | 0 | 228,711,000 | 0 | 0 | 0 | 601,189,000 | 0 | ||||
cash, cash equivalents and restricted cash—end of period | 909,565,000 | -73,545,000 | 128,745,000 | 282,218,000 | 69,030,000 | -29,995,000 | 68,756,000 | 222,548,000 | 55,761,000 | -33,037,000 | 275,110,000 | 39,434,000 | -122,215,000 | 373,319,000 | |||||||||||
vesting of early exercised options | 0 | 0 | 0 | 33,000 | 33,000 | 33,000 | 207,000 | 293,000 | 294,000 | 295,000 | 294,000 | 294,000 | 393,000 | ||||||||||||
reconciliation of cash, cash equivalents and restricted cash within the consolidated balance sheets to the amounts show in the statements of cash flows above: | |||||||||||||||||||||||||
cash and cash equivalents | 909,565,000 | -73,545,000 | 128,745,000 | 282,218,000 | 69,030,000 | -29,995,000 | 68,756,000 | 222,548,000 | 44,170,000 | 55,956,000 | -32,827,000 | 271,686,000 | -15,993,000 | 39,524,000 | -122,264,000 | 369,706,000 | 26,404,000 | -7,679,000 | 11,852,000 | 194,350,000 | -163,648,000 | ||||
restricted cash | 284,000 | -195,000 | -210,000 | 3,424,000 | |||||||||||||||||||||
total cash, cash equivalents and restricted cash | 69,030,000 | -29,995,000 | 68,756,000 | 222,548,000 | 44,454,000 | 55,761,000 | -33,037,000 | 275,110,000 | -16,075,000 | 39,434,000 | -122,215,000 | 373,319,000 | 26,581,000 | -7,530,000 | 11,502,000 | 198,158,000 | -169,738,000 | ||||||||
repayments of convertible senior notes | -24,000 | 0 | 0 | 0 | -3,000 | ||||||||||||||||||||
reconciliation of cash and cash equivalents within the condensed consolidated balance sheets to the amounts shown in the statements of cash flows above: | |||||||||||||||||||||||||
total cash and cash equivalents | -73,545,000 | 128,745,000 | 282,218,000 | ||||||||||||||||||||||
net decrease in cash, cash equivalents and restricted cash | -48,121,000 | ||||||||||||||||||||||||
amortization of debt discount and issuance costs | 8,181,000 | 8,062,000 | |||||||||||||||||||||||
employee payroll taxes paid related to net share settlement under the employee stock purchase plan | 0 | 0 | 0 | -245,000 | -63,000 | -118,000 | |||||||||||||||||||
net loss | -29,034,000 | 7,169,000 | -16,160,000 | 891,000 | |||||||||||||||||||||
reconciliation of cash, cash equivalents and restricted cash within the condensed consolidated balance sheets to the amounts shown in the statements of cash flows above: | |||||||||||||||||||||||||
adjustments to reconcile net loss to net cash from operating activities: | |||||||||||||||||||||||||
amortization of discounts or premiums on marketable securities | -2,491,000 | 520,000 | 2,738,000 | 3,959,000 | 4,407,000 | 3,716,000 | 3,854,000 | 4,259,000 | 4,409,000 | 3,884,000 | 1,216,000 | 244,000 | |||||||||||||
proceeds from initial public offering, net of underwriting discounts and commissions and other offering costs | -2,342,000 | ||||||||||||||||||||||||
proceeds from issuance of convertible senior notes, net of issuance costs | 0 | -474,000 | |||||||||||||||||||||||
purchase of capped call related to convertible senior notes | 0 | 0 | |||||||||||||||||||||||
cash, cash equivalents and restricted cash —end of period | 26,581,000 | -7,530,000 | 11,502,000 | 198,158,000 | -169,738,000 | ||||||||||||||||||||
costs related to initial public offering included in accounts payable and accrued liabilities | 268,000 | -2,298,000 | |||||||||||||||||||||||
restricted cash – including amounts in prepaid expense and other current assets and other assets | 49,000 | 3,613,000 | 177,000 | 149,000 | -350,000 | 3,808,000 | -6,090,000 | ||||||||||||||||||
initial public offering costs | -268,000 | -153,000 | |||||||||||||||||||||||
convertible senior notes issuance costs included in accounts payable and accrued liabilities | |||||||||||||||||||||||||
deferred tax liability related to convertible senior notes issuance | |||||||||||||||||||||||||
deferred tax liability related to unrealized gain on marketable securities | |||||||||||||||||||||||||
proceeds from initial public offering, net of underwriting discounts and commissions and other offering cost | |||||||||||||||||||||||||
reconciliation of cash, cash equivalents and restricted cash within the consolidated balance sheets to the amounts shown in the statements of cash flows above: | |||||||||||||||||||||||||
provision for accounts receivable allowance | 928,000 | 1,073,000 | 360,000 | ||||||||||||||||||||||
acquisition of intangible assets through issuance of common stock | |||||||||||||||||||||||||
noncash lease expense |