ON24 INC., 10-K filed on 3/12/2026
Annual Report
v3.25.4
Cover - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Mar. 05, 2026
Jun. 30, 2025
Cover [Abstract]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2025    
Current Fiscal Year End Date --12-31    
Document Transition Report false    
Entity File Number 001-39965    
Entity Registrant Name ON24, INC.    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 94-3292599    
Entity Address, Address Line One 301 Howard Street, Suite 1100    
Entity Address, City or Town San Francisco    
Entity Address, State or Province CA    
Entity Address, Postal Zip Code 94105    
City Area Code 415    
Local Phone Number 369-8000    
Title of 12(b) Security Common Stock, par value $0.0001 per share    
Trading Symbol ONTF    
Security Exchange Name NYSE    
Entity Well-known Seasoned Issuer No    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company true    
Entity Ex Transition Period false    
ICFR Auditor Attestation Flag false    
Document Financial Statement Error Correction [Flag] false    
Entity Shell Company false    
Entity Public Float     $ 140
Entity Common Stock, Shares Outstanding   42,866,926  
Documents Incorporated by Reference
Portions of the registrant’s definitive Proxy Statement for the 2026 Annual Stockholders’ Meeting, which the registrant expects to file with the Securities and Exchange Commission within 120 days of December 31, 2025, are incorporated by reference into Part III (Items 10, 11,12, 13 and 14) of this Annual Report on Form 10-K.
    
Amendment Flag false    
Document Fiscal Year Focus 2025    
Document Fiscal Period Focus FY    
Entity Central Index Key 0001110611    
v3.25.4
Audit Information
 12 Months Ended
Dec. 31, 2025
Audit Information [Abstract]  
Auditor Firm ID 185
Auditor Name KPMG LLP
Auditor Location Santa Clara, California
v3.25.4
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 37,013 $ 14,933
Marketable securities 130,516 167,803
Accounts receivable, net of allowances and reserves of $2,945 and $4,040 as of December 31, 2025 and 2024, respectively 24,643 28,616
Deferred contract acquisition costs, current 8,507 10,784
Prepaid expenses and other current assets 5,052 6,194
Total current assets 205,731 228,330
Property and equipment, net 4,992 6,673
Operating right-of-use assets 5,335 2,297
Intangible asset, net 156 660
Deferred contract acquisition costs, non-current 11,256 12,199
Other long-term assets 890 794
Total assets 228,360 250,953
Current liabilities    
Accounts payable 5,260 2,746
Accrued and other current liabilities 16,562 16,394
Deferred revenue 60,275 66,687
Operating lease liabilities, current 710 2,372
Total current liabilities 82,807 88,199
Operating lease liabilities, non-current 4,864 1,016
Other long-term liabilities 1,240 2,326
Total liabilities 88,911 91,541
Commitments and contingencies (Note 9)
Stockholders’ equity    
Common stock, $0.0001 par value per share; 500,000,000 shares authorized as of December 31, 2025 and 2024; 42,588,416 and 42,013,694 shares issued and outstanding as of December 31, 2025 and 2024, respectively 3 4
Additional paid-in capital 515,721 507,188
Accumulated deficit (376,522) (347,669)
Accumulated other comprehensive income (loss) 247 (111)
Total stockholders’ equity 139,449 159,412
Total liabilities and stockholders’ equity $ 228,360 $ 250,953
v3.25.4
Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Statement of Financial Position [Abstract]    
Accounts receivable, allowances and reserves $ 2,945 $ 4,040
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Common stock, authorized (in shares) 500,000,000 500,000,000
Common stock, issued (in shares) 42,588,416 42,013,694
Common stock, outstanding (in shares) 42,588,416 42,013,694
v3.25.4
Consolidated Statements of Operations - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenue      
Total revenue $ 139,312 $ 148,081 $ 163,708
Cost of revenue      
Total cost of revenue 35,344 38,012 46,263
Gross profit 103,968 110,069 117,445
Operating expenses      
Sales and marketing 68,094 78,077 89,200
Research and development 32,972 36,250 41,122
General and administrative 38,677 46,399 49,124
Total operating expenses 139,743 160,726 179,446
Loss from operations (35,775) (50,657) (62,001)
Interest expense 163 34 93
Other income, net (7,483) (9,168) (11,303)
Loss before provision for income taxes (28,455) (41,523) (50,791)
Provision for income taxes 398 633 995
Net loss $ (28,853) $ (42,156) $ (51,786)
Net loss per share      
Basic (in dollars per share) $ (0.68) $ (1.01) $ (1.16)
Diluted (in dollars per share) $ (0.68) $ (1.01) $ (1.16)
Weighted-average shares used in computing net loss per share      
Basic (in shares) 42,448,269 41,759,879 44,644,792
Diluted (in shares) 42,448,269 41,759,879 44,644,792
Subscription and other platform      
Revenue      
Total revenue $ 128,512 $ 136,412 $ 149,882
Cost of revenue      
Total cost of revenue 25,731 28,037 34,751
Professional services      
Revenue      
Total revenue 10,800 11,669 13,826
Cost of revenue      
Total cost of revenue $ 9,613 $ 9,975 $ 11,512
v3.25.4
Consolidated Statements of Comprehensive Loss - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of Comprehensive Income [Abstract]      
Net loss $ (28,853) $ (42,156) $ (51,786)
Other comprehensive income (loss)      
Foreign currency translation adjustment, net of tax 297 (471) 73
Unrealized gain (loss) on available for sale debt securities, net of tax 61 (75) 1,234
Total other comprehensive income (loss) 358 (546) 1,307
Total comprehensive loss $ (28,495) $ (42,702) $ (50,479)
v3.25.4
Consolidated Statements of Stockholders’ Equity - USD ($)
$ in Thousands
Total
Common Stock
Additional Paid-in Capital
Accumulated Deficit
Accumulated Other Comprehensive Income (Loss)
Beginning balance (in shares) at Dec. 31, 2022   47,554,801      
Beginning balance at Dec. 31, 2022 $ 307,961 $ 5 $ 562,555 $ (253,727) $ (872)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Cash dividend declared ($1.09 per share) $ (49,872)   (49,872)    
Repurchase of common stock (in shares) (9,762,758) (9,762,758)      
Repurchase of common stock $ (74,569) $ (1) (74,568)    
Excise taxes on repurchase of common stock (486)   (486)    
Issuance of common stock upon exercise of stock options (in shares)   873,389      
Issuance of common stock upon exercise of stock options 1,637 $ 0 1,637    
Issuance of common stock upon release of restricted stock units (in shares)   2,364,353      
Issuance of common stock upon release of restricted stock units 0 $ 0 0    
Issuance of common stock under Employee Stock Purchase Plan ("ESPP") (in shares)   159,536      
Issuance of common stock under Employee Share Purchase Plan (“ESPP”) 1,008 $ 0 1,008    
Stock-based compensation expense 45,017   45,017    
Other comprehensive income (loss) 1,307       1,307
Net loss (51,786)     (51,786)  
Ending balance (in shares) at Dec. 31, 2023   41,189,321      
Ending balance at Dec. 31, 2023 $ 180,217 $ 4 485,291 (305,513) 435
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Repurchase of common stock (in shares) (4,000,990) (4,000,990)      
Repurchase of common stock $ (25,777) $ 0 (25,777)    
Issuance of common stock upon exercise of stock options (in shares)   1,233,572      
Issuance of common stock upon exercise of stock options 1,819 $ 0 1,819    
Issuance of common stock upon release of restricted stock units (in shares)   3,469,986      
Issuance of common stock upon release of restricted stock units 0 $ 0 0    
Issuance of common stock under Employee Stock Purchase Plan ("ESPP") (in shares)   121,805      
Issuance of common stock under Employee Share Purchase Plan (“ESPP”) 668 $ 0 668    
Stock-based compensation expense 45,187   45,187    
Other comprehensive income (loss) (546)       (546)
Net loss $ (42,156)     (42,156)  
Ending balance (in shares) at Dec. 31, 2024 42,013,694 42,013,694      
Ending balance at Dec. 31, 2024 $ 159,412 $ 4 507,188 (347,669) (111)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Repurchase of common stock (in shares) (3,900,269) (3,900,269)      
Repurchase of common stock $ (22,095) $ (1) (22,094)    
Issuance of common stock upon exercise of stock options (in shares) 1,162,283 1,162,283      
Issuance of common stock upon exercise of stock options $ 1,427 $ 0 1,427    
Issuance of common stock upon release of restricted stock units (in shares)   3,202,228      
Issuance of common stock upon release of restricted stock units 0 $ 0 0    
Issuance of common stock under Employee Stock Purchase Plan ("ESPP") (in shares)   110,480      
Issuance of common stock under Employee Share Purchase Plan (“ESPP”) 515 $ 0 515    
Stock-based compensation expense 28,685   28,685    
Other comprehensive income (loss) 358       358
Net loss $ (28,853)     (28,853)  
Ending balance (in shares) at Dec. 31, 2025 42,588,416 42,588,416      
Ending balance at Dec. 31, 2025 $ 139,449 $ 3 $ 515,721 $ (376,522) $ 247
v3.25.4
Consolidated Statements of Stockholders’ Equity (Parenthetical)
 12 Months Ended
Dec. 31, 2023
$ / shares
Share Repurchase Program, Excise Tax, Share Type [Extensible Enumeration] Common Stock
S2023A Dividends  
Declared cash dividend (in dollars per share) $ 1.09
v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Net loss $ (28,853) $ (42,156) $ (51,786)
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation and amortization 4,843 4,828 5,360
Stock-based compensation expense 28,685 45,187 45,017
Amortization of deferred contract acquisition costs 12,803 14,862 15,589
Provision for allowance for doubtful accounts and billing reserves 1,117 2,159 3,059
Non-cash lease expense 1,557 1,573 1,710
Accretion of marketable securities (957) (5,169) (7,716)
Lease impairment charge 0 0 1,461
Other 11 123 244
Changes in operating assets and liabilities:      
Accounts receivable 2,856 7,164 2,759
Deferred contract acquisition costs (9,583) (9,661) (12,864)
Prepaid expenses and other assets 1,133 (1,536) 2,061
Accounts payable 2,382 (105) (2,897)
Accrued liabilities 354 (1,985) (1,999)
Deferred revenue (6,412) (7,671) (9,095)
Other liabilities (2,484) (2,807) (3,105)
Net cash provided by (used in) operating activities 7,452 4,806 (12,202)
Cash flows from investing activities:      
Purchase of property and equipment (3,484) (2,241) (2,183)
Purchase of marketable securities (117,765) (196,606) (276,210)
Proceeds from maturities of marketable securities 156,070 163,048 422,969
Proceeds from sale of marketable securities 0 16,348 17,739
Net cash provided by (used in) investing activities 34,821 (19,451) 162,315
Cash flows from financing activities:      
Proceeds from exercise of stock options 1,359 2,034 1,422
Proceeds from issuance of common stock under ESPP 515 668 1,008
Payment for repurchase of common stock (22,095) (25,777) (74,569)
Payment of cash dividend 0 0 (49,872)
Repayment of short-term financing and equipment loans (164) (72) (236)
Repayment of finance lease obligations (3) (127) (1,533)
Acquisition holdback payment 0 0 (403)
Net cash used in financing activities (20,388) (23,274) (124,183)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 207 (366) 199
Net increase (decrease) in cash, cash equivalents and restricted cash 22,092 (38,285) 26,129
Cash, cash equivalents and restricted cash, beginning of period 15,013 53,298 27,169
Cash, cash equivalents and restricted cash, end of period 37,105 15,013 53,298
Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheets:      
Cash and cash equivalents 37,013 14,933 53,209
Restricted cash included in other assets, non-current 92 80 89
Total cash, cash equivalent and restricted cash 37,105 15,013 53,298
Supplemental disclosures of cash flow information:      
Cash paid for taxes, net of refunds 555 856 1,231
Cash paid for interest 29 2 50
Supplemental disclosures of noncash investing and financing activities:      
Property and equipment purchased funded by liabilities 276 0 0
Property and equipment purchased not yet paid 3,294 4,589 1,241
Option exercises not yet settled $ 68 $ 0 $ 215
v3.25.4
Description of Business and Significant Accounting Policies
 12 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Description of Business and Significant Accounting Policies Description of Business and Significant Accounting Policies
Description of Business
ON24, Inc. and its subsidiaries (together, ON24 or the Company) provides a leading, cloud-based intelligent engagement platform that combines best-in-class customer interaction experience with personalization and content, to enable sales, marketing and other customer-facing organizations to capture and act on connected insights at scale. The Company’s platform offers a portfolio of interactive and hyper-personalized digital experience products that creates and captures actionable, real-time data at scale from millions of professionals to provide businesses with buying signals and behavioral insights to efficiently convert prospects into customers, and, ultimately, propel positive business outcomes. The Company was incorporated in the state of Delaware in January 1998 as NewsDirect, Inc. and in December 1998 changed its name to ON24, Inc. The Company is headquartered in San Francisco, California.
Proposed Merger with Cvent
On December 29, 2025, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Cvent Atlanta, LLC, a Delaware limited liability company (“Parent”), and Summit Sub Corp., a Delaware corporation and wholly-owned subsidiary of Parent (“Merger Sub”). Pursuant to the Merger Agreement, and upon the terms and subject to the conditions set forth in the Merger Agreement, Merger Sub will merge with and into the Company (the “Merger”), with the Company continuing as the surviving company and a wholly-owned subsidiary of Parent following the proposed transaction. Parent and Merger Sub are affiliated with Cvent, Inc. and have agreed to acquire all of the company’s issued and outstanding shares of common stock, subject to the terms and conditions of the Merger Agreement. ON24’s shareholders will be entitled to receive $8.10 in cash for each share of ON24’s common stock owned by them as of immediately prior to the effective time of the Merger.
The consummation of the Merger is subject to customary closing conditions, including, without limitation, the absence of legal restraints, the expiration or termination of applicable waiting periods under applicable antitrust laws, the occurrence of the CFIUS Closing Period (as defined in the Merger Agreement), and approval of the Merger by holders of a majority of the Company’s outstanding shares of common stock entitled to vote at the Company Stockholder Meeting. The Merger is also subject to the accuracy of each party’s representations and warranties and the performance of certain obligations under the Merger Agreement, including, with respect to the Company, maintaining at least $107 million in cash as of the earlier of June 30, 2026 or the closing of the proposed Merger, all as further described in the Merger Agreement.
The Merger Agreement contains customary termination rights for both the Company and Parent, including the right of either party to terminate the Merger Agreement if the Merger has not been completed by December 29, 2026 (subject to a potential extension to March 29, 2027 if additional time is required to obtain antitrust regulatory approvals). The Merger Agreement further provides that, upon termination under specified circumstances, Parent may be required to pay the Company a termination fee of approximately $22 million and the Company may be required to pay Parent a termination fee of approximately $12 million, depending on the circumstances of such termination, as described in the Merger Agreement.
The Company agreed to pay its financial advisors for their services provided related to this proposed Merger. This future payment is contingent upon the closing of the proposed Merger and will be based on the value of the consideration paid in the Merger.
The Company currently expects the closing of the proposed Merger to occur in the first half of 2026.
Basis of Presentation
The accompanying consolidated financial statements include the accounts of ON24, Inc. and its wholly owned subsidiaries and have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”). All intercompany transactions and balances have been eliminated in consolidation.
Use of Estimates
The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Such estimates and assumptions include, but are not limited to, the determination of standalone selling price for the Company’s performance obligations, the expected benefit period for deferred contract acquisition costs, the allowance for doubtful accounts and billing reserves, the useful lives of long-lived assets and the assumptions used to measure stock-based compensation. Actual results could differ materially from these estimates.
Concentration of Risks
The Company’s financial instruments that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents, restricted cash, marketable securities and accounts receivable. The Company maintains its cash and cash equivalents, restricted cash and marketable securities with high-quality financial institutions with investment-grade ratings. A majority of the cash balances are with banks in the U.S. and are insured to the extent defined by the Federal Deposit Insurance Corporation. For concentration of risks on accounts receivables and revenue, refer to Note 2.
Cash, Cash Equivalents and Restricted Cash
Cash and cash equivalents consist of bank deposits and highly liquid investments, primarily money market mutual funds, purchased with an original maturity of three months or less. Restricted cash included in other long-term assets in the consolidated balance sheets consists of term deposits to collateralize our Sydney operating lease.
Marketable Securities
The Company classifies its investments in debt securities as available-for-sale at the time of purchase since it is intended that these investments are available for current operations. Marketable securities are carried at fair value.
Fair Value Measurements
The Company categorizes assets and liabilities recorded at fair value on its consolidated balance sheets based on the accounting guidance framework for measuring fair value on either a recurring or nonrecurring basis, whereby inputs used in valuation techniques are assigned a hierarchical level.
Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The Company measures assets and liabilities at fair value at each reporting period using a fair value hierarchy which requires the Company to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. U.S. GAAP describes a fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable, to measure the fair value:
Level 1 – observable inputs for identical assets or liabilities, such as quoted prices in active markets.
Level 2 – directly or indirectly observable Inputs other than Level 1, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.
Level 3 – Unobservable inputs in which there is little or no market data, which requires the Company to develop its own assumptions.
Financial instruments consist of cash and cash equivalents, restricted cash, marketable securities, accounts receivable and accounts payable. The Company’s investment portfolio consists of money market mutual funds and available for sale debt securities, which are carried at fair value.
Accounts Receivable
See Note 2, Revenue, for the Company’s accounting policy on accounts receivable.
Property and Equipment, Net
Property and equipment, net, are stated at cost, less accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the respective assets, which are generally three years. Leasehold improvements are amortized over the shorter of the remaining lease term or the estimated useful life. Expenditures for maintenance and repairs are expensed as incurred. Significant improvements that substantially enhance the life of an asset are capitalized.
Impairment of Long-Lived Assets
The Company evaluates its long-lived assets or asset groups for impairment whenever events indicate that the carrying value of an asset or asset group may not be recoverable based on expected future cash flows attributable to that asset or asset group. If the carrying amount of an asset or asset group exceeds estimated undiscounted future cash flows, then an impairment charge would be recognized based on the excess of the carrying amount of the asset or asset group over its fair value. Assets to be disposed of are reported at the lower of their carrying amount or fair value less costs to sell. In 2023, the Company recorded impairment charges of $1.5 million, primarily to its operating right-of-use (“ROU”) assets related to its
headquarters lease. See Note 7 for additional information. There were no impairment charges recognized related to long-lived assets in 2025 or 2024.
Revenue Recognition
Revenue is recognized when a customer obtains control of promised services. The amount of revenue recognized reflects the consideration that the Company expects to receive in exchange for these services. To achieve the core principle of this standard, the Company applies the following five steps:
1. Identification of the contract, or contracts, with the customer
The Company determines a contract with a customer to exist when the contract is approved, each party’s rights regarding the services to be transferred can be identified, the payment terms for the services can be identified, the customer has the ability and intent to pay, and the contract has commercial substance. At contract inception, the Company will evaluate whether two or more contracts should be combined and accounted for as a single contract and whether the combined or single contract includes more than one performance obligation. The Company applies judgment in determining the customer’s ability and intent to pay, which is based on a variety of factors, including the customer’s historical payment experience or, in the case of a new customer, credit and financial information pertaining to the customer.
2. Identification of the performance obligations in the contract
Performance obligations committed to in a contract are identified based on the services that will be transferred to the customer that are both capable of being distinct, whereby the customer can benefit from the service either on its own or together with other resources that are readily available from third parties or from the Company, and are distinct in the context of the contract, whereby the transfer of the services and the products is separately identifiable from other promises in the contract.
The Company’s performance obligations generally consist of access to its digital engagement platform and related support services, which, together, are considered one performance obligation. The Company’s customers do not have the ability to take possession of the Company’s software, and, through access to the Company’s platform, the Company provides a series of distinct software-based services that are satisfied over the term of the applicable subscription. Customers may also purchase incremental capacity to the Company’s digital engagement platform. The Company recognizes incremental access as a series of distinct software-based services that are satisfied over the remaining term of the applicable subscription. Amounts related to the Company’s digital engagement platform are recorded as subscription and other platform revenue in the consolidated statements of operations.
The Company also provides professional services, which includes consulting services, such as experience management, monitoring and production services, implementation services and premium support services. Professional services are generally considered distinct from the access to the Company’s digital engagement platform. Amounts are recorded as Professional Services revenue in the consolidated statements of operations.
The Company enters contracts with customers that regularly include promises to transfer multiple services through access to the Company’s platform. For arrangements with multiple services, the Company evaluates whether the individual services qualify as distinct performance obligations. In its assessment of whether a service is a distinct performance obligation, the Company determines whether the customer can benefit from the service on its own or with other readily available resources and whether the service is separately identifiable from other services in the contract. This evaluation requires the Company to assess the nature of each individual service offering and how the services are provided in the context of the contract, including whether the services are significantly integrated, highly interrelated or significantly modify each other, which may require judgment based on the facts and circumstances of the contract.
3. Determination of the transaction price
The transaction price is determined based on the consideration that the Company expects to be entitled in exchange for transferring services to the customer. Variable consideration is included in the transaction price if, in the Company’s judgment, it is probable that a significant future reversal of cumulative revenue recognized under the contract will not occur. The Company applies the practical expedient in paragraph 606-10-32-18 of Topic 606 and does not adjust the promised amount of consideration for the effects of a significant financing component for contracts that are one year or less, and none of our multi-year contracts contain a significant financing component. Revenue is recognized net of any taxes collected from customers (e.g., sales and other indirect taxes), which are subsequently remitted to governmental entities.
The Company’s digital engagement platform and related support services are typically warranted to perform in a professional manner that will comply with the terms of our subscription agreements. In addition, the Company includes service level commitments to its customers warranting certain levels of uptime reliability and performance and permitting those customers to receive credits in the event that the Company fails to meet those service levels. These credits represent a form of variable consideration. Historically, the Company has not experienced any significant incidents affecting the defined levels of reliability and performance as required by its subscription agreements. The Company has not provided any material refunds related to these agreements in the consolidated financial statements during the periods presented.
4. Allocation of the transaction price to the performance obligations in the contract
Contracts that contain multiple performance obligations require an allocation of the transaction price to each performance obligation based on each performance obligation’s relative standalone selling price (SSP). The SSP is the price at which the Company would sell a promised good or service separately to a customer. In instances where the Company does not sell or price a product or service separately, establishing SSP requires significant judgement. The Company estimates the SSP by considering available information, such as market conditions, internally approved pricing guidelines and the underlying cost of delivering the performance obligation.
5. Recognition of the revenue when, or as, a performance obligation is satisfied
Revenue is recognized at the time the related performance obligation is satisfied by transferring the control of the promised service to a customer. Revenue is recognized in an amount that reflects the consideration that the Company expects to receive in exchange for those services. The Company recognizes subscription revenue on a straight-line basis over the term of the applicable contract subscription period beginning on the date access to the Company’s platform is granted. The Company recognizes revenue from consulting services related to events in the period the event occurs and the service is delivered. The Company recognizes revenue from implementation services upon completion of the services. The Company recognizes revenue from premium support offerings on a ratable basis over the applicable subscription term.
Costs to Obtain a Contract
The Company capitalizes sales commissions and associated payroll taxes paid to internal sales personnel and third-party referral fees that are incremental costs resulting from obtaining a contract with a customer. These costs are recorded as deferred contract acquisition costs on the consolidated balance sheets. The Company determines whether costs should be deferred based on its sales compensation plans and if the commissions are incremental and would not have occurred absent the customer contract.
Sales commissions paid upon the initial acquisition of a customer contract are amortized over an estimated period of benefit of five years as the Company specifically anticipates renewals of customer contracts and commissions paid on renewal contracts are not commensurate with commissions paid on new customer contracts. Sales commissions paid upon renewal of customer contracts are amortized over the contractual renewal term. Amortization is recognized on a straight-line basis commensurate with the pattern of revenue recognition. Sales commissions paid related to professional services are amortized over the expected service period. The Company determines the period of benefit for commissions paid for the acquisition of the initial customer contract by taking into consideration the initial estimated customer life and the technological life of its platform and related significant features. Amortization of deferred contract acquisition costs was $12.8 million in 2025, $14.9 million in 2024 and $15.6 million in 2023. Amortization of deferred contract acquisition costs is included in sales and marketing expense in the consolidated statements of operations.
The Company periodically reviews these deferred contract acquisition costs to determine whether events or changes in circumstances have occurred that could impact the period of benefit. The Company had no impairment losses relating to deferred contract acquisition costs during the periods presented.
Cost of Revenue
Subscription and Other Platform Cost of Revenue
Subscription and other platform cost of revenue primarily consists of costs related to hosting the Company’s platform and providing operating support services to its customers. These costs are related to the Company’s hosting facilities, personnel-related costs such as salaries, bonuses, stock-based compensation expense, benefits costs associated with our operations and support personnel, software license fees and allocated overhead.
Professional Services Cost of Revenue
Professional services cost of revenue consists primarily of personnel-related costs, including stock-based compensation, third-party consulting services and allocated overhead.
Research and Development
Research and development expenses primarily consist of personnel-related expenses, including stock-based compensation directly associated with the Company’s research and development employees, contractor costs related to third-party development and allocated overhead. Research and development costs are expensed as incurred.
Advertising Costs
Advertising costs are expensed as incurred in sales and marketing expense in the consolidated statements of operations and amounted to $5.8 million, $6.7 million and $7.8 million in 2025, 2024 and 2023, respectively.
Leases
The Company determines if an arrangement is a lease at inception. Lease liabilities are recognized at the lease commencement date based on the present value of the future lease payments over the lease term. The Company’s leases do not provide an implicit rate of return; therefore, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. ROU asset is determined based on the lease liability initially established and reduced for any prepaid lease payments and any lease incentives received. The lease term to calculate the ROU asset and related lease liability may include options to extend or terminate the lease when the Company is reasonably certain that it will exercise the option.
Variable lease payments are expensed as incurred and are not included in the ROU assets and lease liabilities. Leases with an initial term of 12 months or less are not recognized on the balance sheet as ROU assets but expensed on a straight-line basis over the lease term.
Lease expense is recognized on a straight-line basis over the lease term. The Company accounts for lease components and non-lease components as a single lease component for its new or modified office facility operating leases entered into on or after January 1, 2022.
Stock-Based Compensation
Stock-based compensation expense related to stock awards is measured based on the grant date fair value of the awards. For time-based stock awards, the Company recognizes stock-based compensation expense on a straight-line basis over the requisite service period, which is generally one to four years for restricted stock unit awards (“RSUs”) and four years for option awards. For market performance-based restricted stock unit awards (“MPSUs”) and performance-based restricted stock unit awards (“PSUs”), the Company recognizes stock-based compensation expense on an accelerated basis over the requisite service period, which is generally three years. We account for forfeited awards as they occur.
The fair value of each RSU and PSU is based on the fair value of the underlying common stock on the grant date.
The fair value of each MPSU is estimated on the grant date using a Monte Carlo simulation which factors in the number of awards to be earned based on the achievement of the market condition. This model simulates the various stock price movements of the Company and each constituent company of the benchmark index using certain assumptions such as stock price volatility, risk-free interest rate and expected dividend yield. Compensation cost is recognized if the service condition is achieved, regardless of whether the market condition is ultimately satisfied.
The fair value of each option award and purchase right under the ESPP is estimated on the grant date using the Black-Scholes option pricing model. The Black-Scholes option pricing model requires the input of assumptions, including the risk-free interest rates, the expected term of the option, the expected volatility of the Company’s stock price and the expected dividend yield.
The assumptions used to determine the fair value of the MPSU and option awards are highly subjective and represent management’s best estimates. These estimates involve inherent uncertainties and application of management’s judgment.
Foreign Currency
The functional currencies of the Company’s foreign subsidiaries are each country’s local currency. Assets and liabilities of the subsidiaries are translated into U.S. dollars at exchange rates in effect at the reporting date. Amounts classified in stockholders’ deficit are translated at historical exchange rates. Revenue and expenses are translated at the average exchange rates during the period. The resulting translation adjustments are recorded in accumulated other comprehensive income (loss). Foreign currency transaction gains or losses, whether realized or unrealized, are reflected in the consolidated statements of operations within other income, net. See Note 12 for additional information.
Income Taxes
The Company uses the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial reporting and the tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company then assess the likelihood that the resulting deferred tax assets will be realized. A valuation allowance is provided when it is more likely than not that a deferred tax asset will not be fully realized. Due to our lack of earnings history, the net deferred tax assets in the U.S. have been fully offset by a valuation allowance.
The Company recognizes benefits of uncertain tax positions if it is more likely than not that such positions will be sustained upon examination based solely on their technical merits at the largest amount of benefit that is more likely than not to be realized upon the ultimate settlement. The Company’s policy is to recognize interest and penalties related to the underpayment of income taxes as a component of provision for income taxes.
Net Loss Per Share
Basic net loss per share is calculated by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted net loss per share is calculated by giving effect to all dilutive securities. Diluted net loss per share is computed by dividing the resulting net loss by the weighted-average number of fully diluted shares of common stock outstanding. In periods of net loss, all potentially dilutive common stock equivalents are excluded from the diluted net loss per share calculation because their effect is anti-dilutive.
Recently Issued Accounting Standards
In December 2025, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2025-11, Interim Reporting (Topic: 270): Narrow Scope Improvement. This ASU clarifies the interim disclosure requirements and provides guidance on the applicability of Topic 270. ASU 2025-11 is effective with the Company’s 2028 reporting period, with early adoption permitted. The Company is currently evaluating the impact of this update on its financial statements and disclosures.
In July 2025, the FASB issued ASU 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets. The update provides an optional practical expedient for estimating expected credit losses on current accounts receivable and contract assets arising from transactions under ASC 606. Under this expedient, entities may assume that current conditions at the balance sheet date remain unchanged over the remaining life of these assets. This ASU is effective with the Company’s 2026 reporting period and will be applied prospectively. Early adoption is permitted. The Company does not expect the adoption of this ASU to have a material impact on its consolidated financial statements or disclosures.
In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, as amended, which requires additional disclosures of specific expense categories included within each expense caption presented on the statements of operations. This ASU is effective with the Company’s 2027 annual reporting period and can be applied on a prospective or fully retrospective basis. Early adoption is permitted. The Company is currently evaluating the impact of this new standard on its financial statement disclosures.
In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which expands income tax disclosure to require consistent categories and greater disaggregation of information in the rate reconciliation and income taxes paid. This ASU is effective with the Company’s 2026 annual reporting period, with early application permitted. The Company is currently evaluating the impact of the requirements and does not expect the adoption of this ASU to have a material impact on its consolidated financial statements or disclosures.
v3.25.4
Revenue
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
Disaggregation of Revenue
The following table depicts the disaggregation of revenue by geographic region based on the shipping address of customers (in thousands):
Year Ended December 31,
202520242023
United States$107,738 $113,758 $126,147 
EMEA23,867 26,167 27,636 
Other7,707 8,156 9,925 
Total revenue$139,312 $148,081 $163,708 
No individual foreign country contributed 10% or more of the total revenue in 2025, 2024 and 2023.
No single customer accounted for 10% or more of the total revenue in 2025 2024 and 2023. Additionally, no single customer accounted for 10% or more of accounts receivable as of December 31, 2025 and 2024.
Contract Balances
Accounts receivable: The Company records accounts receivable when the Company has a contractual right to consideration. In some arrangements, a right to consideration for the Company’s performance under the customer contract may occur before invoicing to the customer, resulting in an unbilled receivable. As of December 31, 2025 and 2024, unbilled receivables were included within accounts receivable, net of allowance for doubtful accounts and billing reserves on the consolidated balance sheets and were not material.
Contract assets: The Company records a contract asset when the Company has satisfied a performance obligation but does not yet have an unconditional right to consideration. Contract assets are included in prepaid expenses and other current assets in the consolidated balance sheets and were not material as of December 31, 2025 and 2024.
Contract liabilities: The Company defers its revenue when the Company has the right to invoice in advance of performance under a customer contract. The current portion of deferred revenue balances is recognized during the following 12-month period and the remaining portion is recorded as noncurrent, which is included in other long-term liabilities on the consolidated balance sheet. The amount of revenue recognized in 2025 that was included in deferred revenue at the beginning of the period was $64.3 million.
Remaining Performance Obligations
The terms of the Company’s subscription agreements are primarily annual and, to a lesser extent, multi-year. The Company may bill for the full term in advance or on an annual, quarterly or monthly basis, depending on the terms of the agreement. As of December 31, 2025, the aggregate amount of the transaction price allocated to remaining performance obligations was $131.1 million, which consists of both billed consideration in the amount of $60.6 million and unbilled consideration in the amount of $70.5 million that the Company expects to recognize as revenue. As of December 31, 2025, the Company expects to recognize 71% of its remaining performance obligations as revenue over the subsequent 12 months and the remainder thereafter.
v3.25.4
Marketable Securities
 12 Months Ended
Dec. 31, 2025
Marketable Securities [Abstract]  
Marketable Securities Marketable Securities
Marketable securities consisted of the following as of the periods presented (in thousands):

December 31, 2025
Amortized Cost
Gross Unrealized GainsGross Unrealized Losses
Fair Value
Marketable securities
U.S. Treasury securities$130,304 $212 $— $130,516 
Total marketable securities$130,304 $212 $— $130,516 
    
December 31, 2024
Amortized Cost
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value
Marketable securities
U.S. Treasury securities$167,651 $244 $(92)$167,803 
Total marketable securities$167,651 $244 $(92)$167,803 
As of December 31, 2025, no marketable securities have been in a continuous unrealized loss position. As of December 31, 2024, marketable securities that have been in a continuous unrealized loss position consisted of the following (in thousands):
December 31, 2024
Less Than 12 Months12 Months or MoreTotal
Fair ValueGross Unrealized LossFair ValueGross Unrealized LossFair ValueGross Unrealized Loss
U.S. Treasury securities$25,785 $(92)$— $— $25,785 $(92)
Total$25,785 $(92)$— $— $25,785 $(92)
The Company periodically evaluates whether any security has experienced credit-related declines in fair value. The Company did not recognize any credit loss related to its available for sales debt securities in 2025, 2024 or 2023.
The amount of realized gains or losses from marketable securities that were reclassified out from accumulated other comprehensive income (loss) to other income, net was based on specific identification and such amount was immaterial in 2024 and 2023. The Company did not have such transfers in 2025.
The following summarizes the remaining contractual maturities of the Company’s marketable securities as of December 31, 2025 (in thousands):
Fair Value
One year or less$109,762 
Over one year through three years
20,754 
Total marketable securities$130,516 
v3.25.4
Fair Value Measurement
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurement Fair Value Measurement
The following tables summarize the Company’s financial instruments recorded at fair value on a recurring basis by level within the fair value hierarchy as of the periods presented (in thousands):
December 31, 2025
Level 1Level 2Level 3Total
Cash and cash equivalents
Cash equivalents - money market mutual funds
$30,224 $— $— $30,224 
Marketable securities
U.S. Treasury securities— 130,516 — 130,516 
Total cash equivalents and marketable securities$30,224 $130,516 $— $160,740 
December 31, 2024
Level 1Level 2Level 3Total
Cash and cash equivalents
Cash equivalents - money market mutual funds$10,716 $— $— $10,716 
Marketable securities
U.S. Treasury securities— 167,803 — 167,803 
Total cash equivalents and marketable securities$10,716 $167,803 $— $178,519 
As of December 31, 2025 and 2024, the Company classified its cash equivalents within level 1 of the fair value hierarchy because they are valued using quoted market prices. The Company classified its marketable securities within level 2 of the fair value hierarchy because they are valued using inputs other than quoted prices that are directly or indirectly observable in the market, including readily available pricing sources for the identical underlying security, which may not be actively traded.
v3.25.4
Balance Sheets Components
 12 Months Ended
Dec. 31, 2025
Balance Sheet Related Disclosures [Abstract]  
Balance Sheets Components Balance Sheets Components
Allowance for Doubtful Accounts and Billing Reserves
The following table presents the changes in the allowance for doubtful accounts as of the periods presented (in thousands):
Year Ended December 31,
202520242023
Balance, beginning of period$2,695 $2,561 $1,900 
Charges to general and administrative expenses948 1,469 1,759 
Write-offs and other adjustments(1,528)(1,335)(1,098)
Balance, end of period$2,115 $2,695 $2,561 
In addition to the allowance for doubtful accounts, the Company maintains a billing reserve which represents potential billing adjustments that is recorded as a reduction of revenue. The Company’s billing reserve is based on known adjustments and an estimate using a percentage of revenue based on historical trends and experience.
The following table presents the changes in billing reserves as of the periods presented (in thousands):
Year Ended December 31,
202520242023
Balance, beginning of period$1,345 $1,060 $1,030 
Charges to revenue
169 690 1,300 
Write-offs and other adjustments(684)(405)(1,270)
Balance, end of period$830 $1,345 $1,060 
Property and Equipment, Net
Property and equipment, net consisted of the following as of the periods presented (in thousands):
 December 31, 2025December 31, 2024
Computer, equipment and software(1)
$29,381 $36,198 
Furniture and fixtures542 1,106 
Leasehold improvements536 3,742 
Property and equipment, gross30,459 41,046 
Less: Accumulated depreciation and amortization(2)
(25,467)(34,373)
Property and equipment, net$4,992 $6,673 
(1)Includes amounts related to finance lease assets. These amounts were immaterial as of December 31, 2025, and no such amounts were recorded as of December 31, 2024.
(2)Includes amounts related to finance lease assets. These amounts were immaterial as of December 31, 2025, and no such amount was recorded as of December 31, 2024.
Depreciation and amortization expense for property and equipment was $4.3 million in 2025 and 2024, and $4.8 million in 2023..
Accrued and Other Current Liabilities
Accrued and other current liabilities consisted of the following as of the periods presented (in thousands):
 December 31, 2025December 31, 2024
Accrued compensation and benefits
$3,788 $3,711 
Accrued bonus and commissions5,508 5,839 
Other7,266 6,844 
Accrued and other current liabilities$16,562 $16,394 
v3.25.4
Intangible Assets
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets Intangible Assets
The Company’s acquired intangible asset subject to amortization as of the periods presented was as follows (in thousands):
December 31, 2025
Gross Carrying
Amount
Accumulated
 Amortization
Net Carrying
Amount
Developed technology$2,700 $(2,113)$587 
Effect of foreign currency translation(352)(79)(431)
Total$2,348 $(2,192)$156 
December 31, 2024
Gross Carrying
Amount
Accumulated
 Amortization
Net Carrying
Amount
Developed technology$2,700 $(1,543)$1,157 
Effect of foreign currency translation(612)115 (497)
Total$2,088 $(1,428)$660 
The intangible asset is amortized on a straight-line basis over its useful life of 4 years. As of December 31, 2025, the intangible asset had a remaining amortization period of approximately 0.3 years.
The amortization expense was included in research and development in the consolidated statements of operations as the acquired technology is used to enhance our existing product capabilities and was not material in 2025, 2024 and 2023.
The estimated future amortization expense for the intangible asset is as follows (in thousands):
2026$156 
Total$156 
v3.25.4
Leases
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Leases Leases
The Company entered into operating leases primarily for office facilities and finance leases primarily for computer and network equipment purchases. These leases have terms generally ranging from 3 years to 12 years. The Company’s lease agreements generally do not contain any material variable lease payments, residual value guarantees or restrictive covenants.
In 2023, the Company ceased using a portion of its then-headquarters space and recorded impairment charges of $1.5 million on its headquarters lease, primarily on the operating ROU assets due to vacating the sublease space. See Note 16 for additional information.
The balance sheet classification of the Company’s right-of-use assets and lease liabilities as of the periods presented was as follows (in thousands):
LeasesClassificationDecember 31, 2025December 31, 2024
Non-Current Assets
Finance lease assetsProperty, plant and equipment, net$116 $— 
Operating lease assetsOperating right-of-use asset5,335 2,297 
Total lease assets$5,451 $2,297 
Current Liabilities
FinanceAccrued and other current liabilities$28 $— 
OperatingOperating lease liabilities, current710 2,372 
Non-Current Liabilities
FinanceOther long-term liabilities90 — 
OperatingOperating lease liabilities4,864 1,016 
Total lease liabilities$5,692 $3,388 
The components of lease cost were as follows (in thousands):
Year Ended December 31,
Lease CostClassification202520242023
Finance lease cost
Amortization of right-of-use assetsDepreciation and amortization$5 $67 $547 
Interest on finance lease liabilitiesInterest expense1 — 35 
Operating lease cost(1)
Selling, general and administrative expenses1,719 1,735 1,955 
Variable lease costSelling, general and administrative expenses504 590 483 
Total lease cost$2,229 $2,392 $3,020 
(1)Operating lease cost does not include the impairment charges of $1.2 million incurred in 2023 on the operating ROU assets related to the Company’s headquarters lease.
The undiscounted future lease payments under the lease liabilities as of December 31, 2025 were as follows (in thousands):
Maturity of Lease LiabilitiesFinance LeaseOperating Lease
2026$29 $1,069 
202729 1,576 
202829 1,309 
202929 1,152 
203022 1,186 
Thereafter— 304 
Total lease payments138 6,596 
Less imputed interest(20)(1,022)
Present value of lease liabilities$118 $5,574 
The weighted-average lease term and discount rate as of the periods presented were as follows:
December 31, 2025
Finance LeaseOperating Lease
Weighted-average remaining lease term4.8 years4.7 years
Weighted-average discount rate6.98 %6.93 %

December 31, 2024
Finance LeaseOperating Lease
Weighted-average remaining lease term— 1.8 years
Weighted-average discount rate— %5.20 %
Supplemental cash flow information was as follows (in thousands):
Year Ended December 31,
202520242023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used by operating leases$2,569 $2,861 $2,933 
Financing cash used by finance leases3 127 1,533 
Right-of-use assets obtained in exchange for new lease liabilities:
Operating leases4,426 867 224 
Finance leases121 — — 
Leases Leases
The Company entered into operating leases primarily for office facilities and finance leases primarily for computer and network equipment purchases. These leases have terms generally ranging from 3 years to 12 years. The Company’s lease agreements generally do not contain any material variable lease payments, residual value guarantees or restrictive covenants.
In 2023, the Company ceased using a portion of its then-headquarters space and recorded impairment charges of $1.5 million on its headquarters lease, primarily on the operating ROU assets due to vacating the sublease space. See Note 16 for additional information.
The balance sheet classification of the Company’s right-of-use assets and lease liabilities as of the periods presented was as follows (in thousands):
LeasesClassificationDecember 31, 2025December 31, 2024
Non-Current Assets
Finance lease assetsProperty, plant and equipment, net$116 $— 
Operating lease assetsOperating right-of-use asset5,335 2,297 
Total lease assets$5,451 $2,297 
Current Liabilities
FinanceAccrued and other current liabilities$28 $— 
OperatingOperating lease liabilities, current710 2,372 
Non-Current Liabilities
FinanceOther long-term liabilities90 — 
OperatingOperating lease liabilities4,864 1,016 
Total lease liabilities$5,692 $3,388 
The components of lease cost were as follows (in thousands):
Year Ended December 31,
Lease CostClassification202520242023
Finance lease cost
Amortization of right-of-use assetsDepreciation and amortization$5 $67 $547 
Interest on finance lease liabilitiesInterest expense1 — 35 
Operating lease cost(1)
Selling, general and administrative expenses1,719 1,735 1,955 
Variable lease costSelling, general and administrative expenses504 590 483 
Total lease cost$2,229 $2,392 $3,020 
(1)Operating lease cost does not include the impairment charges of $1.2 million incurred in 2023 on the operating ROU assets related to the Company’s headquarters lease.
The undiscounted future lease payments under the lease liabilities as of December 31, 2025 were as follows (in thousands):
Maturity of Lease LiabilitiesFinance LeaseOperating Lease
2026$29 $1,069 
202729 1,576 
202829 1,309 
202929 1,152 
203022 1,186 
Thereafter— 304 
Total lease payments138 6,596 
Less imputed interest(20)(1,022)
Present value of lease liabilities$118 $5,574 
The weighted-average lease term and discount rate as of the periods presented were as follows:
December 31, 2025
Finance LeaseOperating Lease
Weighted-average remaining lease term4.8 years4.7 years
Weighted-average discount rate6.98 %6.93 %

December 31, 2024
Finance LeaseOperating Lease
Weighted-average remaining lease term— 1.8 years
Weighted-average discount rate— %5.20 %
Supplemental cash flow information was as follows (in thousands):
Year Ended December 31,
202520242023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used by operating leases$2,569 $2,861 $2,933 
Financing cash used by finance leases3 127 1,533 
Right-of-use assets obtained in exchange for new lease liabilities:
Operating leases4,426 867 224 
Finance leases121 — — 
v3.25.4
Credit Facility
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Credit Facility Credit Facility
In August 2024, the Company amended its revolving line of credit with a financial institution to decrease the Company's borrowing capacity from a maximum of $50.0 million to $25.0 million with a letter of credit sublimit of $4.0 million and a credit card sublimit of $1.0 million. The amendment allows the Company to borrow up to $25.0 million if the Company maintains at least $100.0 million on deposit at the institution. If such deposit is less than $100.0 million, the Company may borrow up to the lesser of $25.0 million or an amount determined by the Company's trailing five months of recurring revenue, annualized renewal rate and annualized monthly churn rate, as defined by the agreement. As of December 31, 2025, the Company had not drawn down on its line of credit. The terms of the agreement permit voluntary prepayment without premium or penalty. The agreement also permits payment of dividends and share repurchases from open market purchases or through an accelerated share repurchase program, subject to certain terms and conditions. The revolving credit facility matures in August 2026 and is secured by substantially all of the Company’s assets. The outstanding principal balance on the revolving line of credit, if any, is due at maturity. The Company is required to pay quarterly in arrears a commitment fee of 0.10% per annum on the undrawn portion available under the revolving line of credit. As of December 31, 2025, the Company had an outstanding standby letter of credit of $0.2 million under its credit facility as a guarantee for its leased space.
Interest on the revolving credit facility is payable monthly in arrears at a rate equal to the lender’s prime referenced rate as defined in the agreement. The prime referenced rate was 6.75% as of December 31, 2025 and 7.50% as of December 31, 2024.
The revolving credit facility is subject to certain restrictions and financial covenants, including the requirement of maintaining a minimum debt to EBITDA ratio when the Company’s aggregate borrowing exceeds $5.0 million and the Company fails to maintain $100.0 million in deposits. As of December 31, 2025, the Company was not subject to the financial covenant as the Company met the deposit requirement and had not drawn down from its line of credit.
v3.25.4
Commitment and Contingencies
 12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitment and Contingencies Commitment and Contingencies
Purchase Obligations
As of December 31, 2025, the Company has non-cancelable unrecognized purchase commitments primarily related to software license fees and hosting facilities and services as follows (in thousands):
Purchase Obligations(1)
2026$2,721 
20271,075 
Total$3,796 
(1)Excludes non-cancelable recognized purchase commitments related to software license fees of $3.3 million that are included in accrued liabilities, accounts payable and other long-term liabilities in the consolidated balance sheets.
Contingencies
The Company has agreed to indemnify its directors and executive officers for costs associated with any fees, expenses, judgments, fines, and settlement amounts incurred by any of these persons in any action or proceeding to which any of those persons is, or is threatened to be, made a party by reason of the person’s service as a director or officer, including any action by the Company, arising out of that person’s services as the Company’s director or officer or that person’s services provided to any other company or enterprise at the Company’s request. The Company maintains director and officer insurance coverage that may enable the Company to recover a portion of any future amounts paid.
FASB ASC 450-20, Contingencies, sets forth the rules for accounting for uncertain tax positions for taxes not based on income. When a loss contingency exists, the likelihood of the incurrence of the liability can range from probable to remote. The Company believes it is reasonably possible that a loss will result from the sales and use tax assessments in the range of zero to $0.5 million. The Company has not recorded an accrual as of December 31, 2025 and 2024.
Legal Proceedings
The Company, its Chief Executive Officer, its Chief Financial Officer, certain current and former members of its board of directors and the underwriters that participated in the Company’s Initial Public Offering (“IPO”) are named as defendants in a consolidated putative class action, captioned In re ON24, Inc. Securities Litigation, 4:21-cv-08578-YGR (filed in November 2021), in the United States District Court for the Northern District of California. The consolidated complaint purports to assert claims under Sections 11 and 15 of the Securities Act of 1933 on behalf of all persons and entities that purchased, or otherwise acquired, the Company’s common stock issued in connection with its IPO. The complaint alleges that the Company’s registration statement and prospectus contained untrue statements of material fact and/or omitted material facts about ON24’s growth and customer base. Plaintiff seeks, among other things, an award of damages and attorneys’ fees and costs. The defendants filed a motion to dismiss the complaint in May 2022, which the district court granted with leave to amend in July 2023. Plaintiff filed its amended complaint in September 2023, and the defendants filed a motion to dismiss the amended complaint in October 2023. In March 2024, the district court granted the defendants’ motion to dismiss with prejudice. In January 2026, the Court of Appeals for the Ninth Circuit affirmed in part and reversed the district court’s order. The Company then filed a petition for rehearing and rehearing en banc which was denied by the Ninth Circuit on March 9, 2026. The Company believes the allegations in the amended complaint are without merit. The Company is unable to reasonably estimate a possible loss or range of possible loss, if any, arising from this matter at this early stage. Accordingly, no accrued litigation expense has been recorded in the accompanying consolidated financial statements.
In the ordinary course of business, the Company may be subject from time to time to various proceedings, lawsuits, disputes or claims. Although the Company cannot predict with assurance the outcome of any litigation, the Company does not believe there are currently any actions, other than those described in the prior paragraph, that if resolved unfavorably, would have a material impact on its financial condition, results of operations or cash flows.
v3.25.4
Stockholders’ Equity and Equity Incentive Plan
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Stockholders’ Equity and Equity Incentive Plan Stockholders’ Equity and Equity Incentive Plan
Preferred Stock
The Company’s amended and restated certificate of incorporation authorized the issuance of 10,000,000 shares of undesignated preferred stock with a par value of $0.0001 per share. The Company’s board of directors is authorized to designate the rights, preferences, privileges and restrictions of the preferred stock from time to time.
Common Stock
The Company’s amended and restated certificate of incorporation authorized the issuance of 500,000,000 shares of common stock, $0.0001 par value per share. Holders of common stock are entitled to one vote per share.
Common Stock Reserved for Future Issuance
As of December 31, 2025, the Company had the following shares of common stock reserved for future issuance under its equity incentive plan and employee share purchase plan:
Stock options outstanding4,260,587 
Restricted stock outstanding5,274,092 
Remaining shares available for future grant under 2021 Equity Incentive Plan2,176,433 
Remaining shares available for future issuance under 2021 Employee Stock Purchase Plan2,417,767 
Total shares of common stock reserved as of December 31, 2025
14,128,879 
Equity Incentive Plan
The Company adopted the 2021 Equity Incentive Plan (“2021 Plan”) in connection with its IPO in February 2021, which serves as a successor to and continuation of the 2014 Stock Option Plan (“2014 Plan”). All shares that remained available for issuance under the 2014 Plan as of the closing of the IPO, or that may expire or be canceled or forfeited following the closing of the IPO, become available for future issuance under the 2021 Plan.
The Company initially reserved 6,400,000 shares of common stock for issuance under the 2021 Plan. The number of shares reserved for issuance under the 2021 Plan increase automatically on the first day of January of each of 2022 through 2031, in an amount equal to the lesser of (a) 5.0% of the number of shares of stock issued and outstanding on the
immediately preceding December 31, or (b) an amount determined by the Company’s board of directors. Pursuant to the automatic annual increase, 2,129,420 additional shares were reserved under the 2021 Plan on January 1, 2026. The 2021 Plan provides for the grant of stock options, stock appreciation rights, restricted stock awards, restricted stock units, performance shares, performance units, cash-based awards and other stock-based awards. The plan administrator determines the term of stock options granted under the 2021 Plan, up to a maximum of 10 years.
Repurchase of Common Stock
In February 2024, the Company completed its $75 million share repurchase program that was effected in the first quarter of 2023. In March 2024, the Company’s board of directors approved a $25 million share repurchase program (the “2024 Repurchase Program”) authorizing the discretionary repurchase of common stock over a 12-month period through open market purchases, privately negotiated transactions, or other means. The 2024 Repurchase Program concluded in March 2025.
In May 2025, the Company’s board of directors approved a $50 million share repurchase program (the “2025 Repurchase Program”) authorizing the Company to repurchase common stock from time to time on a discretionary basis through similar methods. The 2025 Share Repurchase program does not obligate the Company to acquire any specific amount of common stock and may be modified, suspended, or discontinued at any time at the Company’s discretion. As of December 31, 2025, the Company has suspended repurchases under the 2025 Repurchase Program in connection with the proposed Merger.
When the Company repurchased shares under the program, it reduced the common stock component of stockholder’s equity by the par value of the repurchased shares. The excess of the repurchase price over par value of the shares was charged to additional paid in capital as the Company is in an accumulated deficit position. All repurchased shares were retired and became authorized and unissued shares.
The following table presents certain information regarding shares repurchased during the periods presented:
Year Ended December 31,
202520242023
Number of shares repurchased3,900,269 4,000,990 9,762,758 
Average price per share, including commissions$5.67 $6.44 $7.64 
Total repurchase costs, including commissions (in millions)$22.1 $25.8 $74.6 
As of December 31, 2025, the Company has $32.4 million remaining under its 2025 Repurchase Program.
Dividend

Pursuant to the capital return program in May 2023, the Company’s board of directors declared a one-time special cash dividend of $1.09 per share, which was paid in June, 2023 in an aggregate amount of $49.9 million (the “Special Dividend”).
Anti-Dilution Adjustment to the Outstanding Awards
Pursuant to the terms of the 2021 Plan and the 2014 Plans, participants holding outstanding equity awards are entitled to receive an anti-dilution adjustment in the event of payment of a dividend. In conjunction with the declaration of the Special Dividend in May 2023, the compensation committee of the Company’s board of directors approved an adjustment to outstanding equity awards (both vested and unvested) in the form of exercise price reductions and/or increases in the number of shares issuable upon vesting and settlement of each award. This anti-dilution adjustment was designed to equalize the fair value of the awards before and after the Special Dividend. Accordingly, no incremental compensation cost was recognized.
Grant Activities
Restricted Stock Units
A summary of RSU activity, excluding RSUs with performance conditions, and related information is as follows:
RSUs Outstanding
Number of
Shares
Weighted-Average
Grant Date
Fair Value
Unvested balance as of December 31, 2024
5,051,759 $8.20 
Granted2,808,310 5.48 
Vested(3,283,637)8.39 
Cancelled and forfeited(509,462)7.77 
Unvested balance as of December 31, 2025
4,066,970 $6.23 
The total fair value of RSUs vested as of the respective vesting dates was $18.7 million in 2025, $22.0 million in 2024 and $18.2 million in 2023.
Restricted Stock Unit with Performance Conditions
In the second quarter of 2025, the Company’s board of directors granted 245,000 PSUs to certain executive officers, with a grant date fair value of $1.4 million. These PSUs are subject to the achievement of specified financial performance targets and may be earned at levels ranging from 0% to 200% based on actual performance during the period from January 1, 2025 through December 31, 2025. Thirty-three percent of the earned PSUs will vest on January 1, 2026, with the remaining earned PSUs vesting in eight equal quarterly installments beginning in March 2026. Vesting of these PSUs is also subject to continued service by the award holders through each applicable vesting date. As of December 31, 2025, none of these PSUs have vested. In February 2026, the Compensation Committee certified the achievement related to the financial performance targets and determined that 100.63% of the PSUs were earned, subject to the ongoing service condition.
In the second quarter of 2025, the Company’s board of directors also granted 245,000 MPSUs to certain executive officers, with a grant date fair value of $0.6 million. These MPSUs will vest if the average closing price of the Company’s common stock equals or exceeds specified target prices for 20 consecutive trading days during the performance period, which extends from the grant date through December 31, 2027. Vesting of these MPSUs is also subject to continued service by the award holders through each applicable vesting date. As of December 31, 2025, none of these MPSUs have vested.
In the second quarter of 2024, the Company’s board of directors granted 805,494 MPSUs to certain executive officers with a grant date fair value of $6.8 million. These MPSUs vest following three annual performance periods beginning in 2024, each in an amount equal to one-third of the target number of MPSUs multiplied by a percentage determined by comparing the Company’s total stockholder return to a benchmark index during the performance period. The actual payout can range from 0% to 200% of the shares granted under this award, with the maximum earned MPSUs capped at 125% for the first two performance periods. Vesting of these MPSUs is also subject to continued service by the award holders through the end of each performance period. As of December 31, 2025, 99,652 of these MPSUs have vested.
In the second quarter of 2023, the Company’s board of directors granted 203,000 MPSUs to certain executive officers with a grant date fair value of $2.5 million. These MPSUs vest following three annual performance periods beginning in 2023, each in an amount equal to one-third of the target number of MPSUs multiplied by a percentage determined by comparing the Company’s total stockholder return to a benchmark index during the performance period. The actual payout can range from 0% to 200% of the shares granted under this award, with the maximum earned MPSUs capped at 125% for the first two performance periods. Vesting of these MPSUs is also subject to continued service by the award holder through the end of each performance period. In May 2023, an additional 32,204 MPSUs were issued in connection with the anti-dilution adjustment. As of December 31, 2025, 47,819 of these MPSUs have vested.
In the fourth quarter of 2022, the Company’s board of directors granted 341,404 MPSUs to an executive officer with a grant date fair value of $4.2 million. These MPSUs vest following three annual performance periods beginning in 2023, each in an amount equal to one-third of the target number of MPSUs multiplied by a percentage determined by comparing the Company’s total stockholder return to a benchmark index during the performance period. The actual payout can range from 0% to 200% of the shares granted under this award, with the maximum earned MPSUs capped at 125% for the first two performance periods. Vesting of these MPSUs is also subject to continued service by the award holder through the end of each performance period. In May 2023, an additional 54,167 MPSUs were issued in connection with the anti-dilution adjustment. As of December 31, 2025, 75,976 of these MPSUs have vested.
The total fair value of MPSUs vested as of the respective vesting dates was $0.7 million in 2025, $1.0 million in 2024 and nil in 2023.
Stock Options
A summary of stock option activity and related information is as follows:
Options Outstanding
Number
of
Shares
Weighted-
Average
Exercise
Price		Weighted-
Average
Remaining
Contractual Life
(in years)		Aggregate
Intrinsic Value
(in thousands)
Balance as of December 31, 2024
5,547,559 $6.75 
Granted
— — 
Exercised(1,162,283)1.23 $5,142 
Cancelled and forfeited(124,689)15.46 
Balance as of December 31, 2025
4,260,587 $8.01 3.99$15,017 
Vested and exercisable4,260,587 $8.01 3.99$15,017 
The Company did not grant options in 2025, 2024 and 2023. The total intrinsic value of options exercised in 2025, 2024 and 2023 was $5.1 million, $6.3 million and $5.2 million, respectively.
Employee Stock Purchase Plan
The 2021 Employee Stock Purchase Plan (“ESPP”) became effective in connection with the Company’s IPO in February 2021. A total of 1,300,000 shares of common stock were initially reserved for issuance under the ESPP. The number of shares reserved for issuance increases automatically on the first day of January of each of 2022 through 2031, in an amount equal to the lesser of (a) 1% of the number of shares of stock issued and outstanding on the immediately preceding December 31, (b) 1,300,000 shares, or (c) an amount determined by the Company’s board of directors. Pursuant to the automatic annual increase, 425,884 additional shares were reserved under the ESPP on January 1, 2026.
All eligible employees may participate in the ESPP and may contribute up to 20% of their eligible earnings for the purchase of the Company’s common stock under the ESPP. Unless otherwise determined by the Company’s board of directors, common stock will be purchased for the accounts of employees participating in the ESPP at a price per share equal to the lesser of (1) 85% of the fair market value of a share of the Company’s common stock on the first date of an offering or (2) 85% of the fair market value of a share of the Company’s common stock on the date of purchase. Offering periods generally start on the first trading day on or after May 16 and November 16 of each year. In February 2026, the Company suspended its ESPP in connection with the proposed Merger.
In 2025, 2024 and 2023, employees purchased 110,480, 121,805 and 159,536 shares of common stock at a weighted average price of $4.66, $5.49 and $6.32 per share under the ESPP, respectively.
Fair Value Determination
The Black-Scholes assumptions used to value the employee stock purchase rights at the grant dates are as follows:
Year Ended December 31,
202520242023
Expected term0.50 years0.50 years0.50 years
Expected volatility35.55 %-39.45%33.79 %-38.56%43.79 %-49.38%
Risk-free interest rate3.80 %-4.30%4.44 %-5.41%5.26 %-5.38%
Dividend yield—%—%—%
The Monte Carlo assumptions used to value the market-based PSUs at the grant dates are as follows:
Year Ended December 31,
202520242023
Expected term2.60 years-2.67 years2.68 years-2.69 years2.69 years
Expected volatility39.30 %-40.30%45.77 %-45.81%53.10%
Risk-free interest rate3.74 %-3.91%4.81 %-4.86%3.98%
Dividend yield—%—%—%
The assumptions and estimates used in the Black-Scholes and Monte Carlo valuations were determined as follows:
•Fair Value of Common Stock. The fair value of each share of underlying common stock is based on the closing price of the Company’s common stock on grant date, as reported on the New York Stock Exchange.
•Risk-Free Interest Rate. The risk-free interest rate for the expected term is based on the U.S. Treasury yield curve in effect on the grant date.
•Expected Term. For ESPP purchase rights, the expected term is the length of purchase period. For MPSUs, the expected term is the longer of the requisite service period or the performance period.
•Expected Volatility. For ESPP purchase rights, the expected volatility is based on the Company’s historical volatility over the purchase period. For MPSUs granted prior to 2024, the expected volatility is estimated using a weighting of the Company’s historical volatility and the historical volatility of a peer group of publicly traded companies. For MPSUs granted beginning in 2024, the expected volatility is estimated using a weighting of the Company’s historical volatility.
•Expected Dividend Yield. Other than the one-time special dividend in 2023, the Company has not declared or paid any cash dividends and has no plan to do so in the foreseeable future. As a result, an expected dividend yield of zero percent was used.
Stock-Based Compensation
The stock-based compensation expense by line item in the consolidated statements of operations is summarized as follows (in thousands):
Year Ended December 31,
202520242023
Cost of revenue
Subscription and other platform$1,524 $2,612 $2,814 
Professional services456 535 545 
Total cost of revenue1,980 3,147 3,359 
Sales and marketing8,156 12,371 13,974 
Research and development5,291 8,911 9,126 
General and administrative13,258 20,758 18,558 
Total stock-based compensation expense$28,685 $45,187 $45,017 
The following table presents the unrecognized stock-based compensation expense and weighted-average recognition periods as of December 31, 2025 (in thousands, except years):
Restricted Stock
ESPP
Unrecognized stock-based compensation expense$23,534 $61 
Weighted-average amortization period1.66 years0.37 years
v3.25.4
Employee Benefit Plan
 12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Employee Benefit Plan Employee Benefit PlanThe Company maintains a retirement savings plan, or the 401(k) Plan. The 401(k) Plan is intended to qualify under Sections 401 of the Internal Revenue Code. Participants may contribute up to applicable annual Internal Revenue Code limits. The 401(k) Plan provides for automatic salary deferrals of 3% of compensation with a 1% escalator each year until the deferral rate reaches 6%. Participants are permitted to waive the automatic deferral and/or the automatic increase provision. All participants’ deferrals, rollovers and matching contributions are 100% vested when contributed. The 401(k) plan allows the Company to make matching contributions and profit-sharing contributions to eligible participants. The Company makes contributions of up to $500 per year to eligible participants. The contribution expense was $0.2 million in 2025, 2024 and 2023
v3.25.4
Other Income, Net
 12 Months Ended
Dec. 31, 2025
Other Income and Expenses [Abstract]  
Other Income, Net Other Income, Net
Other income, net consisted of the following for the periods presented (in thousands):
Year Ended December 31,
202520242023
Interest income$(6,322)$(4,067)$(3,913)
Accretion on marketable securities
(957)(5,169)(7,716)
Foreign currency (gains) losses
(194)70 374 
Other(10)(2)(48)
Other income, net
$(7,483)$(9,168)$(11,303)
v3.25.4
Income Taxes
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The components of loss before the provision for income taxes is summarized as follows (in thousands):
Year Ended December 31,
202520242023
Domestic$(29,391)$(44,116)$(54,585)
Foreign936 2,593 3,794 
Loss before provision for income taxes
$(28,455)$(41,523)$(50,791)
The Company’s provision for income taxes were as follows (in thousands):
Year Ended December 31,
202520242023
Current tax expense
Federal$— $— $— 
State63 70 31 
Foreign341 652 773 
Total current tax expense
404 722 804 
Deferred tax expense:
Federal— — — 
State— — — 
Foreign(6)(89)191 
Total deferred tax expense
(6)(89)191 
Provision for income taxes$398 $633 $995 
The provision for income taxes differs from the amount computed by applying the statutory federal tax rate as follows (in thousands):
Year Ended December 31,
202520242023
Tax benefit at U.S. statutory rate$(5,976)$(8,720)$(10,666)
State income taxes, net of federal benefit11 70 24 
Foreign income and withholding taxes63 80 135 
Change in uncertain tax positions
25 44 115 
Stock-based compensation1,725 2,848 2,728 
Section 162(m)2,001 2,649 2,311 
Expired attributes250 151 49 
Change in valuation allowance2,229 3,705 5,791 
Research and development credits(348)(445)(599)
Global Intangible Low-Taxed Income243 82 495 
Non-deductible transactions costs
251 — 554 
Other(76)169 58 
Provision for income taxes
$398 $633 $995 
Under the current tax law, foreign accumulated earnings that were subject to the mandatory transition tax as of December 31, 2017 may be repatriated to the U.S. without incurring additional U.S. federal income tax, including through the availability of a 100% dividend received deduction for the foreign‑source portion of dividends from controlled foreign subsidiaries. The Company continues to evaluate the indefinite reinvestment assertions with regard to unremitted earnings for our foreign subsidiaries. As of December 31, 2025, 2024 and 2023, the total undistributed earnings of the Company’s foreign subsidiaries were approximately $2.3 million, $0.4 million and $4.9 million, respectively. Historically, the Company has asserted its intention to indefinitely reinvest the undistributed earnings of foreign subsidiaries. The unrecognized deferred tax liability on the portion of the undistributed earnings considered indefinitely reinvested is not material.
Deferred income taxes result from differences in the recognition of expenses for tax and financial reporting purposes, as well as operating loss and tax credit carryforwards. Significant components of our deferred income tax assets as of the periods presented are as follows (in thousands):
December 31, 2025December 31, 2024
Deferred tax assets
Accrued expense and others$3,100 $3,548 
Stock-based compensation4,494 4,830 
Net operating losses34,832 33,518 
Tax credit carryforwards9,873 9,196 
Fixed assets196 583 
Intangibles and capitalized R&D costs
12,733 11,153 
Lease liability1,195 596 
Gross deferred tax assets$66,423 $63,424 
Valuation allowance(59,921)(56,991)
Total deferred tax assets$6,502 $6,433 
Deferred tax liabilities
Right-of-use Asset(1,158)(326)
Deferred commissions(4,904)(5,698)
Total deferred tax liabilities$(6,062)$(6,024)
Net deferred tax assets$440 $409 
The Company assesses the realizability of deferred tax assets based on the available evidence, including a history of taxable income and estimates of future taxable income. In assessing the realizability of deferred tax assets, the Company considers whether it is more likely than not that all or some portion of deferred tax assets will not be realized. Due to the losses the Company generated in prior years, management believes it is more likely than not that the deferred tax assets will not be realized. Accordingly, the Company established a full valuation allowance on its U.S. net deferred tax assets. The valuation allowance increased by $2.9 million in 2025. The Company has not recorded a valuation allowance on its net foreign deferred tax assets as the Company believes it will generate sufficient future taxable income to realize the deferred tax asset in its foreign jurisdictions.
As of December 31, 2025, the Company had net operating loss carryforwards of approximately $137.1 million for federal income tax purposes, a portion of which will begin to expire in 2026 if unused. Of this amount, $85.4 million of the federal net operating loss carryovers will carry over indefinitely and are limited to 80% of taxable income. The Company had net operating loss carryforwards of approximately $109.1 million for state income tax purposes, which will also begin to expire in the year 2026 if unused.
As of December 31, 2025, the Company has research and development credit carryforwards of approximately $7.2 million for federal income tax and $7.1 million for state income tax purposes. The federal research and development tax credit will begin to expire in 2028 if unused. State research and development tax credits carry forward indefinitely.
The federal and state net operating loss carryforwards may be subject to significant limitations under Section 382 and Section 383 of the Internal Revenue Code of 1986, as amended, and similar provisions under state law. The Tax Reform Act of 1986 contains provisions that limit the federal net operating loss carryforwards that may be used in any given year in the event of special occurrences, including significant ownership changes. In the event of significant ownership changes, the Company’s ability to realize the potential future benefit of tax losses and tax credits that existed at the time of the ownership change will be significantly reduced. As of December 31, 2025, the Company has not yet performed a Section 382 study to determine the amount of reduction, if any.
The Company complies with ASC 740-10, Accounting for Uncertainty in Income Taxes, which prescribes a comprehensive model for the recognition, measurement, presentation and disclosure in financial statements of any uncertain tax positions that have been taken or expected to be taken on a tax return. This pronouncement sets a “more likely than not” criterion for recognizing the tax benefit of uncertain tax positions. There are no tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly increase or decrease within 12 months of the reporting date. If recognized, $0.6 million would affect the Company’s effective tax rate.
The Company’s policy is to recognize interest and penalties accrued on any unrecognized tax benefits as a component of income tax expense. The Company recognized an immaterial amount of interest and penalties associated with unrecognized tax benefits in 2025, 2024 and 2023.
A reconciliation of the beginning and ending balance of total unrecognized tax position is as follows (in thousands):
Year Ended December 31,
202520242023
Beginning balance$3,586 $3,151 $2,882 
Increase related to prior year tax provisions
683 164 — 
Increase related to current year tax positions
366 340 289 
Decrease due to lapse of applicable statute of limitations
(128)(69)(20)
Ending balance$4,507 $3,586 $3,151 
The Company files income tax returns in the U.S. federal jurisdiction, various state jurisdictions and various foreign jurisdictions. As of December 31, 2025, all of the years remain open to examination by the federal and state tax authorities for three or four years from the tax year in which net operating losses or tax credits are utilized. There have been no examinations of our income tax returns by any tax authority.
In July 2025, the U.S. enacted tax legislation referred to as the One Big Beautiful Bill (“OBBB”). The OBBB includes significant changes to U.S. income tax laws, including tax cut extensions and modifications to the international tax framework with certain provisions effective in 2025 and others effective in 2026 and later years. The OBBB did not have a material impact on the Company’s 2025 effective tax rate due to the Company’s loss position. Management will continue to analyze and adjust future amounts as related administrative guidance, notices, implementation regulations, potential legislative amendments and interpretations of the OBBB continue to evolve
v3.25.4
Net Loss Per Share
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Net Loss Per Share Net Loss Per Share
The following tables set forth the computation of basic and diluted net loss per share for the periods presented (in thousands, except share and per share data):
Year Ended December 31,
202520242023
Net loss
$(28,853)$(42,156)$(51,786)
Net loss per share of common stock, basic and diluted
$(0.68)$(1.01)$(1.16)
Weighted-average common stock outstanding, basic and diluted
42,448,269 41,759,879 44,644,792 
The following table sets forth the potential shares of common stock that were excluded from the computation of diluted net loss per share for the periods presented because including them would have been antidilutive:
Year Ended December 31,
202520242023
Stock options4,260,587 5,547,559 6,974,082 
Restricted stock units4,066,970 5,051,759 5,952,386 
Performance stock units
1,207,122 1,219,062 630,775 
ESPP purchase rights54,570 61,526 77,134 
Total antidilutive securities9,589,249 11,879,906 13,634,377 
v3.25.4
Related Party Transactions
 12 Months Ended
Dec. 31, 2025
Related Party Transactions [Abstract]  
Related Party Transactions Related Party Transactions
The Company incurred engineering and quality assurance costs from a third-party vendor in 2025, 2024 and 2023. The chief executive officer of the third-party vendor is considered an immediate family member of the Company’s chief technology officer. The Company recorded $2.8 million in 2025 and $2.6 million in 2024 and $2.7 million in 2023 in research and development expense relating to this third-party vendor on the consolidated statements of operations. As of December 31, 2025 and 2024, the Company recorded $0.7 million and $0.4 million, respectively, in accounts payable and accrued liability on the consolidated balance sheets for the amount owed to this third-party vendor.
v3.25.4
Restructuring
 12 Months Ended
Dec. 31, 2025
Restructuring and Related Activities [Abstract]  
Restructuring Restructuring
As part of the continued effort to reduce cost structure and lower net loss, the Company pursued additional workforce reductions in 2025, 2024 and 2023.
The following table summarizes the restructuring costs and impairment charge in the consolidated statements of operations for the periods presented (in thousands):

Year Ended December 31, 2025Year Ended December 31, 2024Year Ended December 31, 2023
Severance and Related Charges(1)
Lease Impairment Charge(2)
Total
Severance and Related Charges(1)
Lease Impairment Charge(2)
Total
Severance and Related Charges(1)
Lease Impairment Charge(2)
Total
Cost of revenue
Subscription and other platform$620 $— $620 $377 $— $377 $2,215 $108 $2,323 
Professional services38 — 38 23 — 23 149 119 268 
Total cost of revenue658 — 658 400 — 400 2,364 227 2,591 
Sales and marketing1,177 — 1,177 1,705 — 1,705 2,246 256 2,502 
Research and development159 — 159 112 — 112 1,397 569 1,966 
General and administrative103 — 103 339 — 339 391 409 800 
Total restructuring costs$2,097 $— $2,097 $2,556 $— $2,556 $6,398 $1,461 $7,859 
(1)Severance and related charges primarily include severance and one-time termination benefits.
(2)Lease impairment charge represents the underutilized real estate charge on the Company’s headquarters lease. See Note 8 for additional information.

The Company made restructuring related payments of $2.0 million, $2.6 million and $6.5 million in 2025, 2024 and 2023, respectively. The restructuring liability was included in accrued and other current liabilities on the consolidated balance sheets and was not material as of December 31, 2025 and 2024.
The Company expects to incur additional restructuring costs of $0.3 million to $0.5 million in the first quarter of 2026 and may incur additional costs in future periods for restructuring activities.
v3.25.4
Segment Information
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company operates in one operating segment and one reportable segment. Operating segments are defined as components of an enterprise about which separate financial information is evaluated regularly by the chief operating decision maker (“CODM”), who is the Company’s chief executive officer, in deciding how to allocate resources and assessing performance. The CODM allocates resources and assesses performance based upon consolidated financial information, primarily by monitoring actual results versus the annual plan, which includes net income as the reported measure of segment profit or loss. The CODM does not evaluate operating segments using asset information.
The following table presents the Company’s segment revenue, expenses and net loss (in thousands):

Year Ended December 31,
202520242023
Revenue$139,312 $148,081 $163,708 
Less segment cost and expenses:
Cost of revenue(1)
33,364 34,865 42,904 
Sales and marketing(1)
59,938 65,706 75,226 
Research and development(1)
27,681 27,339 31,996 
General and administrative(1)
25,419 25,641 30,566 
Other expenses(2)
21,763 36,686 34,802 
Net loss
$(28,853)$(42,156)$(51,786)
(1)Amount excludes stock-based compensation expense.
(2)Other expenses includes stock-based compensation expense, other income, net, interest expense and provision for income taxes. For additional information on stock-based compensation and other income, net, see Note 10 and Note 12, respectively.
The following table presents the property and equipment, net of depreciation and amortization, by geographic region as of the periods presented (in thousands):

 December 31, 2025December 31, 2024
United States$4,800 $6,487 
EMEA177 173 
Other15 13 
Total property and equipment, net$4,992 $6,673 
See Note 2 for information pertaining to revenue by geography and see purchase of property and equipment included in the consolidated statements of cash flows for segment capital expenditures.
v3.25.4
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Terminated false
Sharat Sharan [Member]  
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement
On December 30, 2025, in connection with his execution of the Voting Agreement, Sharat Sharan, our Chief Executive Officer, terminated his Rule 10b5-1 Plan adopted on May 14, 2025.
Name Sharat Sharan
Title Chief Executive Officer
Rule 10b5-1 Arrangement Terminated true
Termination Date December 30, 2025
Arrangement Duration 231 days
v3.25.4
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 31, 2025
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.4
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
Cybersecurity is an important component of our overall risk management program. Our cybersecurity policies and practices are integrated into our risk management program and are based on recognized frameworks. ON24 is certified under ISO 27001:2022 and 27701:2019, which sets forth a strict framework for managing security and privacy risks, including the necessary internal process and policies to deal with cybersecurity risks and incidents.
Risk Management and Strategy
Our cybersecurity program focuses on the following key areas:
•Governance: Our Chief Information Officer (“CIO”) leads our cybersecurity risk management program, with oversight from our board of directors. Our CIO closely collaborates with Information Security and Legal/Privacy leaders with the support of other members of management and teams comprised of personnel with a broad range of experience in the technology industry.
•Collaboration: We have implemented a comprehensive, cross-functional approach to identifying, preventing and mitigating cybersecurity threats and incidents.
•Technical Safeguards: We deploy technical safeguards that are designed to protect our information systems from cybersecurity threats, including firewalls, intrusion prevention, data leak prevention and detection systems, anti-malware functionality and access controls.
•Incident Response and Recovery Planning: We have established and maintain comprehensive cybersecurity incident response and recovery plans, including legal obligations to report incidents, which we test and evaluate from time to time.
•Third-Party Risk Management: We maintain a comprehensive, risk-based approach to identifying and overseeing cybersecurity risks presented by third parties, including vendors and customers, that could adversely impact our business in the event of a cybersecurity incident affecting third-party systems.
•Education: We provide regular, mandatory training for staff regarding cybersecurity and privacy awareness.
We periodically assess and test our cybersecurity policies and practices. These efforts include tabletop exercises, vulnerability and penetration tests, and other exercises focused on evaluating the effectiveness of our cybersecurity measures and planning. We also engage third parties to assess our cybersecurity measures. As of December 31, 2025, we are not aware of any risks from cybersecurity threats that have materially affected or are reasonably likely to materially affect
us, including our business strategy, results of operations or financial condition, although we are unable to provide any assurance that such risks will not become material in the future.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block]
Cybersecurity is an important component of our overall risk management program. Our cybersecurity policies and practices are integrated into our risk management program and are based on recognized frameworks. ON24 is certified under ISO 27001:2022 and 27701:2019, which sets forth a strict framework for managing security and privacy risks, including the necessary internal process and policies to deal with cybersecurity risks and incidents.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block]
Our board of directors oversees cybersecurity as part of its risk oversight function. The audit committee also assists our board of directors in fulfilling its responsibilities with respect to oversight of our cybersecurity programs, including assisting with reviewing the adequacy and effectiveness of our cybersecurity policies and practices and receiving regular presentations and reports from management. The audit committee provides regular briefings to our board of directors as appropriate. We follow an incident response plan that includes reporting prompt and timely information regarding material cybersecurity incidents, remediation, and related matters.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] The audit committee also assists our board of directors in fulfilling its responsibilities with respect to oversight of our cybersecurity programs, including assisting with reviewing the adequacy and effectiveness of our cybersecurity policies and practices and receiving regular presentations and reports from management.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] The audit committee provides regular briefings to our board of directors as appropriate. We follow an incident response plan that includes reporting prompt and timely information regarding material cybersecurity incidents, remediation, and related matters.
Cybersecurity Risk Role of Management [Text Block]
Our CIO and other leaders work collaboratively across our organization to protect our information systems from cybersecurity threats and to promptly respond to incidents in accordance with our incident response plan, including the necessary steps to ensure remediation. Through ongoing communications, these teams monitor the prevention, detection, mitigation and remediation of cybersecurity threats and incidents in real time and report such threats and incidents to our board of directors when appropriate.
Our CIO has over 20 years of professional experience specializing in business transformation, change management, executive leadership, and IT strategy, and has worked with technology security, banking and media companies. Our head of Information Security also brings over 20 years of security, privacy, and compliance experience from public and private sector roles, including leading the security programs at SaaS companies for over a decade.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] The audit committee also assists our board of directors in fulfilling its responsibilities with respect to oversight of our cybersecurity programs, including assisting with reviewing the adequacy and effectiveness of our cybersecurity policies and practices and receiving regular presentations and reports from management. The audit committee provides regular briefings to our board of directors as appropriate. We follow an incident response plan that includes reporting prompt and timely information regarding material cybersecurity incidents, remediation, and related matters.
Our CIO and other leaders work collaboratively across our organization to protect our information systems from cybersecurity threats and to promptly respond to incidents in accordance with our incident response plan, including the necessary steps to ensure remediation. Through ongoing communications, these teams monitor the prevention, detection, mitigation and remediation of cybersecurity threats and incidents in real time and report such threats and incidents to our board of directors when appropriate.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]
Our CIO has over 20 years of professional experience specializing in business transformation, change management, executive leadership, and IT strategy, and has worked with technology security, banking and media companies. Our head of Information Security also brings over 20 years of security, privacy, and compliance experience from public and private sector roles, including leading the security programs at SaaS companies for over a decade.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]
Our board of directors oversees cybersecurity as part of its risk oversight function. The audit committee also assists our board of directors in fulfilling its responsibilities with respect to oversight of our cybersecurity programs, including assisting with reviewing the adequacy and effectiveness of our cybersecurity policies and practices and receiving regular presentations and reports from management. The audit committee provides regular briefings to our board of directors as appropriate. We follow an incident response plan that includes reporting prompt and timely information regarding material cybersecurity incidents, remediation, and related matters.
Our CIO and other leaders work collaboratively across our organization to protect our information systems from cybersecurity threats and to promptly respond to incidents in accordance with our incident response plan, including the necessary steps to ensure remediation. Through ongoing communications, these teams monitor the prevention, detection, mitigation and remediation of cybersecurity threats and incidents in real time and report such threats and incidents to our board of directors when appropriate.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.4
Description of Business and Significant Accounting Policies (Policies)
 12 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Presentation
Basis of Presentation
The accompanying consolidated financial statements include the accounts of ON24, Inc. and its wholly owned subsidiaries and have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”). All intercompany transactions and balances have been eliminated in consolidation.
Use of Estimates
Use of Estimates
The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Such estimates and assumptions include, but are not limited to, the determination of standalone selling price for the Company’s performance obligations, the expected benefit period for deferred contract acquisition costs, the allowance for doubtful accounts and billing reserves, the useful lives of long-lived assets and the assumptions used to measure stock-based compensation. Actual results could differ materially from these estimates.
Concentration of Risks
Concentration of Risks
The Company’s financial instruments that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents, restricted cash, marketable securities and accounts receivable. The Company maintains its cash and cash equivalents, restricted cash and marketable securities with high-quality financial institutions with investment-grade ratings. A majority of the cash balances are with banks in the U.S. and are insured to the extent defined by the Federal Deposit Insurance Corporation.
Cash, Cash Equivalents and Restricted Cash
Cash, Cash Equivalents and Restricted Cash
Cash and cash equivalents consist of bank deposits and highly liquid investments, primarily money market mutual funds, purchased with an original maturity of three months or less. Restricted cash included in other long-term assets in the consolidated balance sheets consists of term deposits to collateralize our Sydney operating lease.
Marketable Securities
Marketable Securities
The Company classifies its investments in debt securities as available-for-sale at the time of purchase since it is intended that these investments are available for current operations. Marketable securities are carried at fair value.
Fair Value Measurements
Fair Value Measurements
The Company categorizes assets and liabilities recorded at fair value on its consolidated balance sheets based on the accounting guidance framework for measuring fair value on either a recurring or nonrecurring basis, whereby inputs used in valuation techniques are assigned a hierarchical level.
Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The Company measures assets and liabilities at fair value at each reporting period using a fair value hierarchy which requires the Company to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. U.S. GAAP describes a fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable, to measure the fair value:
Level 1 – observable inputs for identical assets or liabilities, such as quoted prices in active markets.
Level 2 – directly or indirectly observable Inputs other than Level 1, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.
Level 3 – Unobservable inputs in which there is little or no market data, which requires the Company to develop its own assumptions.
Financial instruments consist of cash and cash equivalents, restricted cash, marketable securities, accounts receivable and accounts payable. The Company’s investment portfolio consists of money market mutual funds and available for sale debt securities, which are carried at fair value.
Property and Equipment, Net
Property and Equipment, Net
Property and equipment, net, are stated at cost, less accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the respective assets, which are generally three years. Leasehold improvements are amortized over the shorter of the remaining lease term or the estimated useful life. Expenditures for maintenance and repairs are expensed as incurred. Significant improvements that substantially enhance the life of an asset are capitalized.
Impairment of Long-Lived Assets
Impairment of Long-Lived Assets
The Company evaluates its long-lived assets or asset groups for impairment whenever events indicate that the carrying value of an asset or asset group may not be recoverable based on expected future cash flows attributable to that asset or asset group. If the carrying amount of an asset or asset group exceeds estimated undiscounted future cash flows, then an impairment charge would be recognized based on the excess of the carrying amount of the asset or asset group over its fair value. Assets to be disposed of are reported at the lower of their carrying amount or fair value less costs to sell.
Revenue Recognition, Costs to Obtain a Contract, Cost of Revenue, and Contract Balances
Revenue Recognition
Revenue is recognized when a customer obtains control of promised services. The amount of revenue recognized reflects the consideration that the Company expects to receive in exchange for these services. To achieve the core principle of this standard, the Company applies the following five steps:
1. Identification of the contract, or contracts, with the customer
The Company determines a contract with a customer to exist when the contract is approved, each party’s rights regarding the services to be transferred can be identified, the payment terms for the services can be identified, the customer has the ability and intent to pay, and the contract has commercial substance. At contract inception, the Company will evaluate whether two or more contracts should be combined and accounted for as a single contract and whether the combined or single contract includes more than one performance obligation. The Company applies judgment in determining the customer’s ability and intent to pay, which is based on a variety of factors, including the customer’s historical payment experience or, in the case of a new customer, credit and financial information pertaining to the customer.
2. Identification of the performance obligations in the contract
Performance obligations committed to in a contract are identified based on the services that will be transferred to the customer that are both capable of being distinct, whereby the customer can benefit from the service either on its own or together with other resources that are readily available from third parties or from the Company, and are distinct in the context of the contract, whereby the transfer of the services and the products is separately identifiable from other promises in the contract.
The Company’s performance obligations generally consist of access to its digital engagement platform and related support services, which, together, are considered one performance obligation. The Company’s customers do not have the ability to take possession of the Company’s software, and, through access to the Company’s platform, the Company provides a series of distinct software-based services that are satisfied over the term of the applicable subscription. Customers may also purchase incremental capacity to the Company’s digital engagement platform. The Company recognizes incremental access as a series of distinct software-based services that are satisfied over the remaining term of the applicable subscription. Amounts related to the Company’s digital engagement platform are recorded as subscription and other platform revenue in the consolidated statements of operations.
The Company also provides professional services, which includes consulting services, such as experience management, monitoring and production services, implementation services and premium support services. Professional services are generally considered distinct from the access to the Company’s digital engagement platform. Amounts are recorded as Professional Services revenue in the consolidated statements of operations.
The Company enters contracts with customers that regularly include promises to transfer multiple services through access to the Company’s platform. For arrangements with multiple services, the Company evaluates whether the individual services qualify as distinct performance obligations. In its assessment of whether a service is a distinct performance obligation, the Company determines whether the customer can benefit from the service on its own or with other readily available resources and whether the service is separately identifiable from other services in the contract. This evaluation requires the Company to assess the nature of each individual service offering and how the services are provided in the context of the contract, including whether the services are significantly integrated, highly interrelated or significantly modify each other, which may require judgment based on the facts and circumstances of the contract.
3. Determination of the transaction price
The transaction price is determined based on the consideration that the Company expects to be entitled in exchange for transferring services to the customer. Variable consideration is included in the transaction price if, in the Company’s judgment, it is probable that a significant future reversal of cumulative revenue recognized under the contract will not occur. The Company applies the practical expedient in paragraph 606-10-32-18 of Topic 606 and does not adjust the promised amount of consideration for the effects of a significant financing component for contracts that are one year or less, and none of our multi-year contracts contain a significant financing component. Revenue is recognized net of any taxes collected from customers (e.g., sales and other indirect taxes), which are subsequently remitted to governmental entities.
The Company’s digital engagement platform and related support services are typically warranted to perform in a professional manner that will comply with the terms of our subscription agreements. In addition, the Company includes service level commitments to its customers warranting certain levels of uptime reliability and performance and permitting those customers to receive credits in the event that the Company fails to meet those service levels. These credits represent a form of variable consideration. Historically, the Company has not experienced any significant incidents affecting the defined levels of reliability and performance as required by its subscription agreements. The Company has not provided any material refunds related to these agreements in the consolidated financial statements during the periods presented.
4. Allocation of the transaction price to the performance obligations in the contract
Contracts that contain multiple performance obligations require an allocation of the transaction price to each performance obligation based on each performance obligation’s relative standalone selling price (SSP). The SSP is the price at which the Company would sell a promised good or service separately to a customer. In instances where the Company does not sell or price a product or service separately, establishing SSP requires significant judgement. The Company estimates the SSP by considering available information, such as market conditions, internally approved pricing guidelines and the underlying cost of delivering the performance obligation.
5. Recognition of the revenue when, or as, a performance obligation is satisfied
Revenue is recognized at the time the related performance obligation is satisfied by transferring the control of the promised service to a customer. Revenue is recognized in an amount that reflects the consideration that the Company expects to receive in exchange for those services. The Company recognizes subscription revenue on a straight-line basis over the term of the applicable contract subscription period beginning on the date access to the Company’s platform is granted. The Company recognizes revenue from consulting services related to events in the period the event occurs and the service is delivered. The Company recognizes revenue from implementation services upon completion of the services. The Company recognizes revenue from premium support offerings on a ratable basis over the applicable subscription term.
Costs to Obtain a Contract
The Company capitalizes sales commissions and associated payroll taxes paid to internal sales personnel and third-party referral fees that are incremental costs resulting from obtaining a contract with a customer. These costs are recorded as deferred contract acquisition costs on the consolidated balance sheets. The Company determines whether costs should be deferred based on its sales compensation plans and if the commissions are incremental and would not have occurred absent the customer contract.
Sales commissions paid upon the initial acquisition of a customer contract are amortized over an estimated period of benefit of five years as the Company specifically anticipates renewals of customer contracts and commissions paid on renewal contracts are not commensurate with commissions paid on new customer contracts. Sales commissions paid upon renewal of customer contracts are amortized over the contractual renewal term. Amortization is recognized on a straight-line basis commensurate with the pattern of revenue recognition. Sales commissions paid related to professional services are amortized over the expected service period. The Company determines the period of benefit for commissions paid for the acquisition of the initial customer contract by taking into consideration the initial estimated customer life and the technological life of its platform and related significant features.Amortization of deferred contract acquisition costs is included in sales and marketing expense in the consolidated statements of operations. The Company periodically reviews these deferred contract acquisition costs to determine whether events or changes in circumstances have occurred that could impact the period of benefit.
Cost of Revenue
Subscription and Other Platform Cost of Revenue
Subscription and other platform cost of revenue primarily consists of costs related to hosting the Company’s platform and providing operating support services to its customers. These costs are related to the Company’s hosting facilities, personnel-related costs such as salaries, bonuses, stock-based compensation expense, benefits costs associated with our operations and support personnel, software license fees and allocated overhead.
Professional Services Cost of Revenue
Professional services cost of revenue consists primarily of personnel-related costs, including stock-based compensation, third-party consulting services and allocated overhead.
Accounts receivable: The Company records accounts receivable when the Company has a contractual right to consideration. In some arrangements, a right to consideration for the Company’s performance under the customer contract may occur before invoicing to the customer, resulting in an unbilled receivable.Contract assets: The Company records a contract asset when the Company has satisfied a performance obligation but does not yet have an unconditional right to consideration.Contract liabilities: The Company defers its revenue when the Company has the right to invoice in advance of performance under a customer contract. The current portion of deferred revenue balances is recognized during the following 12-month period and the remaining portion is recorded as noncurrent, which is included in other long-term liabilities on the consolidated balance sheet.
Research and Development
Research and Development
Research and development expenses primarily consist of personnel-related expenses, including stock-based compensation directly associated with the Company’s research and development employees, contractor costs related to third-party development and allocated overhead. Research and development costs are expensed as incurred.
Advertising Costs
Advertising Costs
Advertising costs are expensed as incurred in sales and marketing expense in the consolidated statements of operations
Leases
Leases
The Company determines if an arrangement is a lease at inception. Lease liabilities are recognized at the lease commencement date based on the present value of the future lease payments over the lease term. The Company’s leases do not provide an implicit rate of return; therefore, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. ROU asset is determined based on the lease liability initially established and reduced for any prepaid lease payments and any lease incentives received. The lease term to calculate the ROU asset and related lease liability may include options to extend or terminate the lease when the Company is reasonably certain that it will exercise the option.
Variable lease payments are expensed as incurred and are not included in the ROU assets and lease liabilities. Leases with an initial term of 12 months or less are not recognized on the balance sheet as ROU assets but expensed on a straight-line basis over the lease term.
Lease expense is recognized on a straight-line basis over the lease term. The Company accounts for lease components and non-lease components as a single lease component for its new or modified office facility operating leases entered into on or after January 1, 2022.
Stock-Based Compensation
Stock-Based Compensation
Stock-based compensation expense related to stock awards is measured based on the grant date fair value of the awards. For time-based stock awards, the Company recognizes stock-based compensation expense on a straight-line basis over the requisite service period, which is generally one to four years for restricted stock unit awards (“RSUs”) and four years for option awards. For market performance-based restricted stock unit awards (“MPSUs”) and performance-based restricted stock unit awards (“PSUs”), the Company recognizes stock-based compensation expense on an accelerated basis over the requisite service period, which is generally three years. We account for forfeited awards as they occur.
The fair value of each RSU and PSU is based on the fair value of the underlying common stock on the grant date.
The fair value of each MPSU is estimated on the grant date using a Monte Carlo simulation which factors in the number of awards to be earned based on the achievement of the market condition. This model simulates the various stock price movements of the Company and each constituent company of the benchmark index using certain assumptions such as stock price volatility, risk-free interest rate and expected dividend yield. Compensation cost is recognized if the service condition is achieved, regardless of whether the market condition is ultimately satisfied.
The fair value of each option award and purchase right under the ESPP is estimated on the grant date using the Black-Scholes option pricing model. The Black-Scholes option pricing model requires the input of assumptions, including the risk-free interest rates, the expected term of the option, the expected volatility of the Company’s stock price and the expected dividend yield.
The assumptions used to determine the fair value of the MPSU and option awards are highly subjective and represent management’s best estimates. These estimates involve inherent uncertainties and application of management’s judgment.
Foreign Currency
Foreign Currency
The functional currencies of the Company’s foreign subsidiaries are each country’s local currency. Assets and liabilities of the subsidiaries are translated into U.S. dollars at exchange rates in effect at the reporting date. Amounts classified in stockholders’ deficit are translated at historical exchange rates. Revenue and expenses are translated at the average exchange rates during the period. The resulting translation adjustments are recorded in accumulated other comprehensive income (loss). Foreign currency transaction gains or losses, whether realized or unrealized, are reflected in the consolidated statements of operations within other income, net.
Income Taxes
Income Taxes
The Company uses the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial reporting and the tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company then assess the likelihood that the resulting deferred tax assets will be realized. A valuation allowance is provided when it is more likely than not that a deferred tax asset will not be fully realized. Due to our lack of earnings history, the net deferred tax assets in the U.S. have been fully offset by a valuation allowance.
The Company recognizes benefits of uncertain tax positions if it is more likely than not that such positions will be sustained upon examination based solely on their technical merits at the largest amount of benefit that is more likely than not to be realized upon the ultimate settlement. The Company’s policy is to recognize interest and penalties related to the underpayment of income taxes as a component of provision for income taxes.
Net Loss Per Share
Net Loss Per Share
Basic net loss per share is calculated by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted net loss per share is calculated by giving effect to all dilutive securities. Diluted net loss per share is computed by dividing the resulting net loss by the weighted-average number of fully diluted shares of common stock outstanding. In periods of net loss, all potentially dilutive common stock equivalents are excluded from the diluted net loss per share calculation because their effect is anti-dilutive.
Recently Issued Accounting Standards
Recently Issued Accounting Standards
In December 2025, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2025-11, Interim Reporting (Topic: 270): Narrow Scope Improvement. This ASU clarifies the interim disclosure requirements and provides guidance on the applicability of Topic 270. ASU 2025-11 is effective with the Company’s 2028 reporting period, with early adoption permitted. The Company is currently evaluating the impact of this update on its financial statements and disclosures.
In July 2025, the FASB issued ASU 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets. The update provides an optional practical expedient for estimating expected credit losses on current accounts receivable and contract assets arising from transactions under ASC 606. Under this expedient, entities may assume that current conditions at the balance sheet date remain unchanged over the remaining life of these assets. This ASU is effective with the Company’s 2026 reporting period and will be applied prospectively. Early adoption is permitted. The Company does not expect the adoption of this ASU to have a material impact on its consolidated financial statements or disclosures.
In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, as amended, which requires additional disclosures of specific expense categories included within each expense caption presented on the statements of operations. This ASU is effective with the Company’s 2027 annual reporting period and can be applied on a prospective or fully retrospective basis. Early adoption is permitted. The Company is currently evaluating the impact of this new standard on its financial statement disclosures.
In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which expands income tax disclosure to require consistent categories and greater disaggregation of information in the rate reconciliation and income taxes paid. This ASU is effective with the Company’s 2026 annual reporting period, with early application permitted. The Company is currently evaluating the impact of the requirements and does not expect the adoption of this ASU to have a material impact on its consolidated financial statements or disclosures.
Repurchase of Common Stock
When the Company repurchased shares under the program, it reduced the common stock component of stockholder’s equity by the par value of the repurchased shares. The excess of the repurchase price over par value of the shares was charged to additional paid in capital as the Company is in an accumulated deficit position. All repurchased shares were retired and became authorized and unissued shares.
Segment Information
The Company operates in one operating segment and one reportable segment. Operating segments are defined as components of an enterprise about which separate financial information is evaluated regularly by the chief operating decision maker (“CODM”), who is the Company’s chief executive officer, in deciding how to allocate resources and assessing performance. The CODM allocates resources and assesses performance based upon consolidated financial information, primarily by monitoring actual results versus the annual plan, which includes net income as the reported measure of segment profit or loss. The CODM does not evaluate operating segments using asset information.
v3.25.4
Revenue (Tables)
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue by Geographic Region
The following table depicts the disaggregation of revenue by geographic region based on the shipping address of customers (in thousands):
Year Ended December 31,
202520242023
United States$107,738 $113,758 $126,147 
EMEA23,867 26,167 27,636 
Other7,707 8,156 9,925 
Total revenue$139,312 $148,081 $163,708 
v3.25.4
Marketable Securities (Tables)
 12 Months Ended
Dec. 31, 2025
Marketable Securities [Abstract]  
Schedule of Marketable Securities
Marketable securities consisted of the following as of the periods presented (in thousands):

December 31, 2025
Amortized Cost
Gross Unrealized GainsGross Unrealized Losses
Fair Value
Marketable securities
U.S. Treasury securities$130,304 $212 $— $130,516 
Total marketable securities$130,304 $212 $— $130,516 
    
December 31, 2024
Amortized Cost
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value
Marketable securities
U.S. Treasury securities$167,651 $244 $(92)$167,803 
Total marketable securities$167,651 $244 $(92)$167,803 
Schedule of Marketable Securities in an Unrealized Loss Position As of December 31, 2024, marketable securities that have been in a continuous unrealized loss position consisted of the following (in thousands):
December 31, 2024
Less Than 12 Months12 Months or MoreTotal
Fair ValueGross Unrealized LossFair ValueGross Unrealized LossFair ValueGross Unrealized Loss
U.S. Treasury securities$25,785 $(92)$— $— $25,785 $(92)
Total$25,785 $(92)$— $— $25,785 $(92)
Schedule of Remaining Contractual Maturities of Marketable Securities
The following summarizes the remaining contractual maturities of the Company’s marketable securities as of December 31, 2025 (in thousands):
Fair Value
One year or less$109,762 
Over one year through three years
20,754 
Total marketable securities$130,516 
v3.25.4
Fair Value Measurement (Tables)
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Financial Instruments Recorded at Fair Value on Recurring Basis
The following tables summarize the Company’s financial instruments recorded at fair value on a recurring basis by level within the fair value hierarchy as of the periods presented (in thousands):
December 31, 2025
Level 1Level 2Level 3Total
Cash and cash equivalents
Cash equivalents - money market mutual funds
$30,224 $— $— $30,224 
Marketable securities
U.S. Treasury securities— 130,516 — 130,516 
Total cash equivalents and marketable securities$30,224 $130,516 $— $160,740 
December 31, 2024
Level 1Level 2Level 3Total
Cash and cash equivalents
Cash equivalents - money market mutual funds$10,716 $— $— $10,716 
Marketable securities
U.S. Treasury securities— 167,803 — 167,803 
Total cash equivalents and marketable securities$10,716 $167,803 $— $178,519 
v3.25.4
Balance Sheets Components (Tables)
 12 Months Ended
Dec. 31, 2025
Balance Sheet Related Disclosures [Abstract]  
Allowance for Doubtful Account and Billing Reserve
The following table presents the changes in the allowance for doubtful accounts as of the periods presented (in thousands):
Year Ended December 31,
202520242023
Balance, beginning of period$2,695 $2,561 $1,900 
Charges to general and administrative expenses948 1,469 1,759 
Write-offs and other adjustments(1,528)(1,335)(1,098)
Balance, end of period$2,115 $2,695 $2,561 
The following table presents the changes in billing reserves as of the periods presented (in thousands):
Year Ended December 31,
202520242023
Balance, beginning of period$1,345 $1,060 $1,030 
Charges to revenue
169 690 1,300 
Write-offs and other adjustments(684)(405)(1,270)
Balance, end of period$830 $1,345 $1,060 
Schedule of Property and Equipment, Net
Property and equipment, net consisted of the following as of the periods presented (in thousands):
 December 31, 2025December 31, 2024
Computer, equipment and software(1)
$29,381 $36,198 
Furniture and fixtures542 1,106 
Leasehold improvements536 3,742 
Property and equipment, gross30,459 41,046 
Less: Accumulated depreciation and amortization(2)
(25,467)(34,373)
Property and equipment, net$4,992 $6,673 
(1)Includes amounts related to finance lease assets. These amounts were immaterial as of December 31, 2025, and no such amounts were recorded as of December 31, 2024.
(2)Includes amounts related to finance lease assets. These amounts were immaterial as of December 31, 2025, and no such amount was recorded as of December 31, 2024.
Schedule of Accrued and Other Current Liabilities
Accrued and other current liabilities consisted of the following as of the periods presented (in thousands):
 December 31, 2025December 31, 2024
Accrued compensation and benefits
$3,788 $3,711 
Accrued bonus and commissions5,508 5,839 
Other7,266 6,844 
Accrued and other current liabilities$16,562 $16,394 
v3.25.4
Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Finite-Lived Intangible Assets
The Company’s acquired intangible asset subject to amortization as of the periods presented was as follows (in thousands):
December 31, 2025
Gross Carrying
Amount
Accumulated
 Amortization
Net Carrying
Amount
Developed technology$2,700 $(2,113)$587 
Effect of foreign currency translation(352)(79)(431)
Total$2,348 $(2,192)$156 
December 31, 2024
Gross Carrying
Amount
Accumulated
 Amortization
Net Carrying
Amount
Developed technology$2,700 $(1,543)$1,157 
Effect of foreign currency translation(612)115 (497)
Total$2,088 $(1,428)$660 
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense
The estimated future amortization expense for the intangible asset is as follows (in thousands):
2026$156 
Total$156 
v3.25.4
Leases (Tables)
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Supplemental Balance Sheet Classification
The balance sheet classification of the Company’s right-of-use assets and lease liabilities as of the periods presented was as follows (in thousands):
LeasesClassificationDecember 31, 2025December 31, 2024
Non-Current Assets
Finance lease assetsProperty, plant and equipment, net$116 $— 
Operating lease assetsOperating right-of-use asset5,335 2,297 
Total lease assets$5,451 $2,297 
Current Liabilities
FinanceAccrued and other current liabilities$28 $— 
OperatingOperating lease liabilities, current710 2,372 
Non-Current Liabilities
FinanceOther long-term liabilities90 — 
OperatingOperating lease liabilities4,864 1,016 
Total lease liabilities$5,692 $3,388 
Components of Lease Cost
The components of lease cost were as follows (in thousands):
Year Ended December 31,
Lease CostClassification202520242023
Finance lease cost
Amortization of right-of-use assetsDepreciation and amortization$5 $67 $547 
Interest on finance lease liabilitiesInterest expense1 — 35 
Operating lease cost(1)
Selling, general and administrative expenses1,719 1,735 1,955 
Variable lease costSelling, general and administrative expenses504 590 483 
Total lease cost$2,229 $2,392 $3,020 
(1)Operating lease cost does not include the impairment charges of $1.2 million incurred in 2023 on the operating ROU assets related to the Company’s headquarters lease.
Operating Lease Maturity
The undiscounted future lease payments under the lease liabilities as of December 31, 2025 were as follows (in thousands):
Maturity of Lease LiabilitiesFinance LeaseOperating Lease
2026$29 $1,069 
202729 1,576 
202829 1,309 
202929 1,152 
203022 1,186 
Thereafter— 304 
Total lease payments138 6,596 
Less imputed interest(20)(1,022)
Present value of lease liabilities$118 $5,574 
Financing Lease Maturity
The undiscounted future lease payments under the lease liabilities as of December 31, 2025 were as follows (in thousands):
Maturity of Lease LiabilitiesFinance LeaseOperating Lease
2026$29 $1,069 
202729 1,576 
202829 1,309 
202929 1,152 
203022 1,186 
Thereafter— 304 
Total lease payments138 6,596 
Less imputed interest(20)(1,022)
Present value of lease liabilities$118 $5,574 
Weighted-Average Lease Term and Discount Rate
The weighted-average lease term and discount rate as of the periods presented were as follows:
December 31, 2025
Finance LeaseOperating Lease
Weighted-average remaining lease term4.8 years4.7 years
Weighted-average discount rate6.98 %6.93 %

December 31, 2024
Finance LeaseOperating Lease
Weighted-average remaining lease term— 1.8 years
Weighted-average discount rate— %5.20 %
Supplemental Cash Flow Information
Supplemental cash flow information was as follows (in thousands):
Year Ended December 31,
202520242023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used by operating leases$2,569 $2,861 $2,933 
Financing cash used by finance leases3 127 1,533 
Right-of-use assets obtained in exchange for new lease liabilities:
Operating leases4,426 867 224 
Finance leases121 — — 
v3.25.4
Commitment and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Unrecorded Unconditional Purchase Obligations Disclosure
As of December 31, 2025, the Company has non-cancelable unrecognized purchase commitments primarily related to software license fees and hosting facilities and services as follows (in thousands):
Purchase Obligations(1)
2026$2,721 
20271,075 
Total$3,796 
(1)Excludes non-cancelable recognized purchase commitments related to software license fees of $3.3 million that are included in accrued liabilities, accounts payable and other long-term liabilities in the consolidated balance sheets.
v3.25.4
Stockholders’ Equity and Equity Incentive Plan (Tables)
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Schedule of Common Stock Reserved for Future Issuance
As of December 31, 2025, the Company had the following shares of common stock reserved for future issuance under its equity incentive plan and employee share purchase plan:
Stock options outstanding4,260,587 
Restricted stock outstanding5,274,092 
Remaining shares available for future grant under 2021 Equity Incentive Plan2,176,433 
Remaining shares available for future issuance under 2021 Employee Stock Purchase Plan2,417,767 
Total shares of common stock reserved as of December 31, 2025
14,128,879 
Schedule of Share Repurchases
The following table presents certain information regarding shares repurchased during the periods presented:
Year Ended December 31,
202520242023
Number of shares repurchased3,900,269 4,000,990 9,762,758 
Average price per share, including commissions$5.67 $6.44 $7.64 
Total repurchase costs, including commissions (in millions)$22.1 $25.8 $74.6 
Schedule of RSU Activity
A summary of RSU activity, excluding RSUs with performance conditions, and related information is as follows:
RSUs Outstanding
Number of
Shares
Weighted-Average
Grant Date
Fair Value
Unvested balance as of December 31, 2024
5,051,759 $8.20 
Granted2,808,310 5.48 
Vested(3,283,637)8.39 
Cancelled and forfeited(509,462)7.77 
Unvested balance as of December 31, 2025
4,066,970 $6.23 
Schedule of Stock Option Activity
A summary of stock option activity and related information is as follows:
Options Outstanding
Number
of
Shares
Weighted-
Average
Exercise
Price		Weighted-
Average
Remaining
Contractual Life
(in years)		Aggregate
Intrinsic Value
(in thousands)
Balance as of December 31, 2024
5,547,559 $6.75 
Granted
— — 
Exercised(1,162,283)1.23 $5,142 
Cancelled and forfeited(124,689)15.46 
Balance as of December 31, 2025
4,260,587 $8.01 3.99$15,017 
Vested and exercisable4,260,587 $8.01 3.99$15,017 
Schedule of Share-Based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions
The Black-Scholes assumptions used to value the employee stock purchase rights at the grant dates are as follows:
Year Ended December 31,
202520242023
Expected term0.50 years0.50 years0.50 years
Expected volatility35.55 %-39.45%33.79 %-38.56%43.79 %-49.38%
Risk-free interest rate3.80 %-4.30%4.44 %-5.41%5.26 %-5.38%
Dividend yield—%—%—%
Schedule of Monte Carlo Assumptions Used to Value the Market Performance-Based Restricted Stock Units
The Monte Carlo assumptions used to value the market-based PSUs at the grant dates are as follows:
Year Ended December 31,
202520242023
Expected term2.60 years-2.67 years2.68 years-2.69 years2.69 years
Expected volatility39.30 %-40.30%45.77 %-45.81%53.10%
Risk-free interest rate3.74 %-3.91%4.81 %-4.86%3.98%
Dividend yield—%—%—%
Schedule of Share-Based Compensation Expense by Line Item in the Consolidated Statements of Operations
The stock-based compensation expense by line item in the consolidated statements of operations is summarized as follows (in thousands):
Year Ended December 31,
202520242023
Cost of revenue
Subscription and other platform$1,524 $2,612 $2,814 
Professional services456 535 545 
Total cost of revenue1,980 3,147 3,359 
Sales and marketing8,156 12,371 13,974 
Research and development5,291 8,911 9,126 
General and administrative13,258 20,758 18,558 
Total stock-based compensation expense$28,685 $45,187 $45,017 
Schedule of Unrecognized Stock-Based Compensation Expenses and Weighted-Average Recognition Periods
The following table presents the unrecognized stock-based compensation expense and weighted-average recognition periods as of December 31, 2025 (in thousands, except years):
Restricted Stock
ESPP
Unrecognized stock-based compensation expense$23,534 $61 
Weighted-average amortization period1.66 years0.37 years
v3.25.4
Other Income, Net (Tables)
 12 Months Ended
Dec. 31, 2025
Other Income and Expenses [Abstract]  
Schedule of Other Income, Net
Other income, net consisted of the following for the periods presented (in thousands):
Year Ended December 31,
202520242023
Interest income$(6,322)$(4,067)$(3,913)
Accretion on marketable securities
(957)(5,169)(7,716)
Foreign currency (gains) losses
(194)70 374 
Other(10)(2)(48)
Other income, net
$(7,483)$(9,168)$(11,303)
v3.25.4
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of Income before Income Tax, Domestic and Foreign
The components of loss before the provision for income taxes is summarized as follows (in thousands):
Year Ended December 31,
202520242023
Domestic$(29,391)$(44,116)$(54,585)
Foreign936 2,593 3,794 
Loss before provision for income taxes
$(28,455)$(41,523)$(50,791)
Schedule of Income Tax Expense
The Company’s provision for income taxes were as follows (in thousands):
Year Ended December 31,
202520242023
Current tax expense
Federal$— $— $— 
State63 70 31 
Foreign341 652 773 
Total current tax expense
404 722 804 
Deferred tax expense:
Federal— — — 
State— — — 
Foreign(6)(89)191 
Total deferred tax expense
(6)(89)191 
Provision for income taxes$398 $633 $995 
Schedule of Effective Income Tax Rate Reconciliation
The provision for income taxes differs from the amount computed by applying the statutory federal tax rate as follows (in thousands):
Year Ended December 31,
202520242023
Tax benefit at U.S. statutory rate$(5,976)$(8,720)$(10,666)
State income taxes, net of federal benefit11 70 24 
Foreign income and withholding taxes63 80 135 
Change in uncertain tax positions
25 44 115 
Stock-based compensation1,725 2,848 2,728 
Section 162(m)2,001 2,649 2,311 
Expired attributes250 151 49 
Change in valuation allowance2,229 3,705 5,791 
Research and development credits(348)(445)(599)
Global Intangible Low-Taxed Income243 82 495 
Non-deductible transactions costs
251 — 554 
Other(76)169 58 
Provision for income taxes
$398 $633 $995 
Schedule of Deferred Tax Assets and Liabilities Significant components of our deferred income tax assets as of the periods presented are as follows (in thousands):
December 31, 2025December 31, 2024
Deferred tax assets
Accrued expense and others$3,100 $3,548 
Stock-based compensation4,494 4,830 
Net operating losses34,832 33,518 
Tax credit carryforwards9,873 9,196 
Fixed assets196 583 
Intangibles and capitalized R&D costs
12,733 11,153 
Lease liability1,195 596 
Gross deferred tax assets$66,423 $63,424 
Valuation allowance(59,921)(56,991)
Total deferred tax assets$6,502 $6,433 
Deferred tax liabilities
Right-of-use Asset(1,158)(326)
Deferred commissions(4,904)(5,698)
Total deferred tax liabilities$(6,062)$(6,024)
Net deferred tax assets$440 $409 
Schedule of Unrecognized Tax Benefits Roll Forward
A reconciliation of the beginning and ending balance of total unrecognized tax position is as follows (in thousands):
Year Ended December 31,
202520242023
Beginning balance$3,586 $3,151 $2,882 
Increase related to prior year tax provisions
683 164 — 
Increase related to current year tax positions
366 340 289 
Decrease due to lapse of applicable statute of limitations
(128)(69)(20)
Ending balance$4,507 $3,586 $3,151 
v3.25.4
Net Loss Per Share (Tables)
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Schedule of Computation of Basic and Diluted Net Loss Per Share
The following tables set forth the computation of basic and diluted net loss per share for the periods presented (in thousands, except share and per share data):
Year Ended December 31,
202520242023
Net loss
$(28,853)$(42,156)$(51,786)
Net loss per share of common stock, basic and diluted
$(0.68)$(1.01)$(1.16)
Weighted-average common stock outstanding, basic and diluted
42,448,269 41,759,879 44,644,792 
Schedule of Potential Shares of Common Stock Excluded from Computation of Diluted Net Loss Per Share
The following table sets forth the potential shares of common stock that were excluded from the computation of diluted net loss per share for the periods presented because including them would have been antidilutive:
Year Ended December 31,
202520242023
Stock options4,260,587 5,547,559 6,974,082 
Restricted stock units4,066,970 5,051,759 5,952,386 
Performance stock units
1,207,122 1,219,062 630,775 
ESPP purchase rights54,570 61,526 77,134 
Total antidilutive securities9,589,249 11,879,906 13,634,377 
v3.25.4
Restructuring (Tables)
 12 Months Ended
Dec. 31, 2025
Restructuring and Related Activities [Abstract]  
Schedule of Restructuring Costs
The following table summarizes the restructuring costs and impairment charge in the consolidated statements of operations for the periods presented (in thousands):

Year Ended December 31, 2025Year Ended December 31, 2024Year Ended December 31, 2023
Severance and Related Charges(1)
Lease Impairment Charge(2)
Total
Severance and Related Charges(1)
Lease Impairment Charge(2)
Total
Severance and Related Charges(1)
Lease Impairment Charge(2)
Total
Cost of revenue
Subscription and other platform$620 $— $620 $377 $— $377 $2,215 $108 $2,323 
Professional services38 — 38 23 — 23 149 119 268 
Total cost of revenue658 — 658 400 — 400 2,364 227 2,591 
Sales and marketing1,177 — 1,177 1,705 — 1,705 2,246 256 2,502 
Research and development159 — 159 112 — 112 1,397 569 1,966 
General and administrative103 — 103 339 — 339 391 409 800 
Total restructuring costs$2,097 $— $2,097 $2,556 $— $2,556 $6,398 $1,461 $7,859 
(1)Severance and related charges primarily include severance and one-time termination benefits.
(2)Lease impairment charge represents the underutilized real estate charge on the Company’s headquarters lease. See Note 8 for additional information.
v3.25.4
Segment Information (Tables)
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Schedule of Revenue, Expenses and Net Loss
The following table presents the Company’s segment revenue, expenses and net loss (in thousands):

Year Ended December 31,
202520242023
Revenue$139,312 $148,081 $163,708 
Less segment cost and expenses:
Cost of revenue(1)
33,364 34,865 42,904 
Sales and marketing(1)
59,938 65,706 75,226 
Research and development(1)
27,681 27,339 31,996 
General and administrative(1)
25,419 25,641 30,566 
Other expenses(2)
21,763 36,686 34,802 
Net loss
$(28,853)$(42,156)$(51,786)
(1)Amount excludes stock-based compensation expense.
(2)Other expenses includes stock-based compensation expense, other income, net, interest expense and provision for income taxes. For additional information on stock-based compensation and other income, net, see Note 10 and Note 12, respectively.
Schedule of Property and Equipment, Net of Depreciation and Amortization, by Geographic Region
The following table presents the property and equipment, net of depreciation and amortization, by geographic region as of the periods presented (in thousands):

 December 31, 2025December 31, 2024
United States$4,800 $6,487 
EMEA177 173 
Other15 13 
Total property and equipment, net$4,992 $6,673 
v3.25.4
Description of Business and Significant Accounting Policies - Additional Information (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 29, 2025
Description of Business and Significant Accounting Policies [Line Items]        
Estimated useful life 3 years      
Lease impairment charge $ 0 $ 0 $ 1,461,000  
Capitalized contract cost, amortization period 5 years      
Amortization of deferred contract acquisition costs $ 12,803,000 14,862,000 15,589,000  
Impairment losses of deferred contract acquisition costs 0 0 0  
Advertising costs 5,800,000 6,700,000 7,800,000  
Merger Agreement | Cvent        
Description of Business and Significant Accounting Policies [Line Items]        
Business combination, price per share (in dollars per share)       $ 8.10
Minimum cash balance required for consummation       $ 107,000,000
Termination fee payable by acquirer       22,000,000
Termination fee payable by acquiree       $ 12,000,000
Cost Reduction And Cost Structure Reduction Plans        
Description of Business and Significant Accounting Policies [Line Items]        
Lease impairment charge 0 0 1,461,000  
Lease Impairment Charges | Cost Reduction And Cost Structure Reduction Plans        
Description of Business and Significant Accounting Policies [Line Items]        
Lease impairment charge $ 0 0 1,500,000  
Employee Stock Option        
Description of Business and Significant Accounting Policies [Line Items]        
Requisite service period 4 years      
Market Performance-Based Stock Awards        
Description of Business and Significant Accounting Policies [Line Items]        
Requisite service period 3 years      
Minimum | Restricted Stock Units        
Description of Business and Significant Accounting Policies [Line Items]        
Requisite service period 1 year      
Maximum | Restricted Stock Units        
Description of Business and Significant Accounting Policies [Line Items]        
Requisite service period 4 years      
Sales and marketing        
Description of Business and Significant Accounting Policies [Line Items]        
Amortization of deferred contract acquisition costs $ 12,800,000 14,900,000 15,600,000  
Sales and marketing | Cost Reduction And Cost Structure Reduction Plans        
Description of Business and Significant Accounting Policies [Line Items]        
Lease impairment charge $ 0 $ 0 $ 256,000  
v3.25.4
Revenue - Schedule of Disaggregation of Revenue by Geographic Region (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Disaggregation Of Revenue [Line Items]      
Total revenue $ 139,312 $ 148,081 $ 163,708
United States      
Disaggregation Of Revenue [Line Items]      
Total revenue 107,738 113,758 126,147
EMEA      
Disaggregation Of Revenue [Line Items]      
Total revenue 23,867 26,167 27,636
Other      
Disaggregation Of Revenue [Line Items]      
Total revenue $ 7,707 $ 8,156 $ 9,925
v3.25.4
Revenue - Foreign Countries Or Customers Which Contributed 10% or more of Total Revenue or Accounts Receivable (Detail)
 12 Months Ended
Dec. 31, 2025
country
customer
Dec. 31, 2024
country
customer
Dec. 31, 2023
customer
country
Disaggregation Of Revenue [Line Items]      
Number of foreign countries who accounted for 10% or more | country 0 0 0
Customers Representing Concentration Risk | Revenue | Customer Concentration Risk      
Disaggregation Of Revenue [Line Items]      
Number of customers who accounted for 10% or more 0 0 0
Percentage of concentration risk 10.00% 10.00% 10.00%
Customers Representing Concentration Risk | Accounts Receivable Benchmark | Customer Concentration Risk      
Disaggregation Of Revenue [Line Items]      
Number of customers who accounted for 10% or more 0 0  
Percentage of concentration risk 10.00% 10.00%  
v3.25.4
Revenue - Contract Balances (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
Revenue from Contract with Customer [Abstract]  
Revenue recognized related to deferred revenue $ 64.3
v3.25.4
Revenue - Remaining Performance Obligations (Details)
$ in Millions
Dec. 31, 2025
USD ($)
Disaggregation Of Revenue [Line Items]  
Remaining performance obligation $ 131.1
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2026-01-01  
Disaggregation Of Revenue [Line Items]  
Remaining performance obligation percentage (as percent) 71.00%
Revenue remaining performance obligation, expected timing of satisfaction period (in months) 12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2027-01-01  
Disaggregation Of Revenue [Line Items]  
Revenue remaining performance obligation, expected timing of satisfaction period (in months)
Billed Consideration  
Disaggregation Of Revenue [Line Items]  
Remaining performance obligation $ 60.6
Unbilled Consideration  
Disaggregation Of Revenue [Line Items]  
Remaining performance obligation $ 70.5
v3.25.4
Marketable Securities - Schedule of Marketable Securities (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Marketable securities    
Amortized Cost $ 130,304 $ 167,651
Gross Unrealized Gains 212 244
Gross Unrealized Losses 0 (92)
Fair Value 130,516 167,803
U.S. Treasury securities    
Marketable securities    
Amortized Cost 130,304 167,651
Gross Unrealized Gains 212 244
Gross Unrealized Losses 0 (92)
Fair Value $ 130,516 $ 167,803
v3.25.4
Marketable Securities - Schedule of Marketable Securities in an Unrealized Loss Position (Details)
$ in Thousands
Dec. 31, 2024
USD ($)
Marketable securities  
Marketable securities in a continuous loss position for less than 12 months $ 25,785
Marketable securities in a continuous loss position for less than 12 months, Gross Unrealized Loss (92)
Marketable securities in a continuous loss position for 12 months or more 0
Marketable securities in a continuous loss position for 12 months or more, Gross Unrealized Loss 0
Marketable securities in a continuous loss position 25,785
Marketable securities in a continuous loss position, Gross Unrealized Loss (92)
U.S. Treasury securities  
Marketable securities  
Marketable securities in a continuous loss position for less than 12 months 25,785
Marketable securities in a continuous loss position for less than 12 months, Gross Unrealized Loss (92)
Marketable securities in a continuous loss position for 12 months or more 0
Marketable securities in a continuous loss position for 12 months or more, Gross Unrealized Loss 0
Marketable securities in a continuous loss position 25,785
Marketable securities in a continuous loss position, Gross Unrealized Loss $ (92)
v3.25.4
Marketable Securities - Additional Information (Details)
 12 Months Ended
Dec. 31, 2025
USD ($)
security
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Marketable securities      
Number of marketable securities in continuous unrealized loss position | security 0    
Credit loss recognized related to available for sale debt securities $ 0 $ 0 $ 0
Reclassification out of Accumulated Other Comprehensive Income      
Marketable securities      
Realized gains (losses) from reclassification of marketable securities $ 0    
v3.25.4
Marketable Securities - Schedule of Remaining Contractual Maturities of Marketable Securities (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Marketable Securities (Available For Sale) Maturities [Abstract]    
One year or less $ 109,762  
Over one year through three years 20,754  
Total marketable securities $ 130,516 $ 167,803
v3.25.4
Fair Value Measurement - Schedule of Financial Instruments Recorded at Fair Value on Recurring Basis (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Fair Value (Recurring) [Line Items]    
Fair Value $ 130,516 $ 167,803
U.S. Treasury securities    
Fair Value (Recurring) [Line Items]    
Fair Value 130,516 167,803
Fair Value Measurements Recurring    
Fair Value (Recurring) [Line Items]    
Cash equivalents - money market mutual funds 30,224 10,716
Total cash equivalents and marketable securities 160,740 178,519
Fair Value Measurements Recurring | Level 1    
Fair Value (Recurring) [Line Items]    
Cash equivalents - money market mutual funds 30,224 10,716
Total cash equivalents and marketable securities 30,224 10,716
Fair Value Measurements Recurring | Level 2    
Fair Value (Recurring) [Line Items]    
Cash equivalents - money market mutual funds 0 0
Total cash equivalents and marketable securities 130,516 167,803
Fair Value Measurements Recurring | Level 3    
Fair Value (Recurring) [Line Items]    
Cash equivalents - money market mutual funds 0 0
Total cash equivalents and marketable securities 0 0
Fair Value Measurements Recurring | U.S. Treasury securities    
Fair Value (Recurring) [Line Items]    
Fair Value 130,516 167,803
Fair Value Measurements Recurring | U.S. Treasury securities | Level 1    
Fair Value (Recurring) [Line Items]    
Fair Value 0 0
Fair Value Measurements Recurring | U.S. Treasury securities | Level 2    
Fair Value (Recurring) [Line Items]    
Fair Value 130,516 167,803
Fair Value Measurements Recurring | U.S. Treasury securities | Level 3    
Fair Value (Recurring) [Line Items]    
Fair Value $ 0 $ 0
v3.25.4
Balance Sheets Components - Allowance For Doubtful Accounts (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Changes in Allowance for Doubtful Accounts      
Balance, beginning of period $ 2,695 $ 2,561 $ 1,900
Charges to general and administrative expenses 948 1,469 1,759
Write-offs and other adjustments (1,528) (1,335) (1,098)
Balance, end of period $ 2,115 $ 2,695 $ 2,561
v3.25.4
Balance Sheets Components - Billing Reserve (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Changes in Billing Reserve      
Balance, beginning of period $ 1,345 $ 1,060 $ 1,030
Charges to revenue 169 690 1,300
Write-offs and other adjustments (684) (405) (1,270)
Balance, end of period $ 830 $ 1,345 $ 1,060
v3.25.4
Balance Sheets Components - Schedule of Property and Equipment, Net (Details) - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Property Plant And Equipment [Line Items]    
Property and equipment, gross, finance lease $ 30,459,000 $ 41,046,000
Less: Accumulated depreciation and amortization (25,467,000) (34,373,000)
Property and equipment, net 4,992,000 6,673,000
Computer, equipment and software    
Property Plant And Equipment [Line Items]    
Property and equipment, gross, finance lease 29,381,000 36,198,000
Property and equipment, finance leases   0
Accumulated amortization, finance lease   0
Furniture and fixtures    
Property Plant And Equipment [Line Items]    
Property and equipment, gross 542,000 1,106,000
Leasehold improvements    
Property Plant And Equipment [Line Items]    
Property and equipment, gross $ 536,000 $ 3,742,000
v3.25.4
Balance Sheets Components - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Balance Sheet Related Disclosures [Abstract]      
Depreciation and amortization expense for property and equipment $ 4.3 $ 4.3 $ 4.8
v3.25.4
Balance Sheets Components - Schedule of Accrued and Other Current Liabilities (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Balance Sheet Related Disclosures [Abstract]    
Accrued compensation and benefits $ 3,788 $ 3,711
Accrued bonus and commissions 5,508 5,839
Other 7,266 6,844
Accrued and other current liabilities $ 16,562 $ 16,394
v3.25.4
Intangible Assets - Acquired Intangible Assets (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Intangible Asset, Acquired, Finite-Lived [Line Items]    
Total, Gross Carrying Amount $ 2,348 $ 2,088
Total, Accumulated Amortization (2,192) (1,428)
Total, Net Carrying Amount 156 660
Developed technology    
Intangible Asset, Acquired, Finite-Lived [Line Items]    
Developed technology, before foreign currency translation, Gross Carrying Amount 2,700 2,700
Developed technology, before foreign currency translation, Accumulated Amortization (2,113) (1,543)
Developed technology, before foreign currency translation, Net Carrying Amount 587 1,157
Effect of foreign currency translation    
Intangible Asset, Acquired, Finite-Lived [Line Items]    
Effect of foreign currency translation, Gross Carrying Amount (352) (612)
Effect of foreign currency translation, Accumulated Amortization (79) 115
Effect of foreign currency translation, Net Carrying Amount $ (431) $ (497)
v3.25.4
Intangible Assets - Additional Information (Details)
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Useful life (in years) 4 years
Remaining amortization period (in years) 3 months 18 days
v3.25.4
Intangible Assets - Future Amortization Expense (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]    
2026 $ 156  
Total, Net Carrying Amount $ 156 $ 660
v3.25.4
Leases - Additional Information (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Lessee, Lease, Description [Line Items]      
Lease impairment charge $ 0 $ 0 $ 1,461,000
Cost Reduction And Cost Structure Reduction Plans      
Lessee, Lease, Description [Line Items]      
Lease impairment charge 0 0 1,461,000
Lease Impairment Charges | Cost Reduction And Cost Structure Reduction Plans      
Lessee, Lease, Description [Line Items]      
Lease impairment charge $ 0 $ 0 $ 1,500,000
Minimum      
Lessee, Lease, Description [Line Items]      
Term of contract, operating lease 3 years    
Term of contract, finance lease 3 years    
Maximum      
Lessee, Lease, Description [Line Items]      
Term of contract, operating lease 12 years    
Term of contract, finance lease 12 years    
v3.25.4
Leases - Balance Sheet Classification (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Non-Current Assets    
Finance lease assets $ 116 $ 0
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Property and equipment, net Property and equipment, net
Operating right-of-use assets $ 5,335 $ 2,297
Total lease assets 5,451 2,297
Current liabilities    
Finance lease liabilities, current $ 28 $ 0
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Accrued Liabilities, Current Accrued Liabilities, Current
Operating lease liabilities, current $ 710 $ 2,372
Non-Current Liabilities    
Finance lease liabilities, noncurrent $ 90 $ 0
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] Other long-term liabilities Other long-term liabilities
Operating lease liabilities, non-current $ 4,864 $ 1,016
Total lease liabilities $ 5,692 $ 3,388
v3.25.4
Leases - Lease Cost (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Finance lease cost      
Amortization of right-of-use assets $ 5 $ 67 $ 547
Interest on finance lease liabilities 1 0 35
Operating lease cost 1,719 1,735 1,955
Variable lease cost 504 590 483
Total lease cost $ 2,229 $ 2,392 3,020
ROU asset impairment charge     $ 1,200
v3.25.4
Leases - Maturity of Lease Liabilities (Details)
$ in Thousands
Dec. 31, 2025
USD ($)
Finance Lease  
2026 $ 29
2027 29
2028 29
2029 29
2030 22
Thereafter 0
Total lease payments 138
Less imputed interest (20)
Present value of lease liabilities 118
Operating Lease  
2026 1,069
2027 1,576
2028 1,309
2029 1,152
2030 1,186
Thereafter 304
Total lease payments 6,596
Less imputed interest (1,022)
Present value of lease liabilities $ 5,574
v3.25.4
Leases - Weighted-Average Lease Term (Details)
Dec. 31, 2025
Dec. 31, 2024
Leases [Abstract]    
Weighted-average remaining lease term, finance lease 4 years 9 months 18 days 0 years
Weighted-average discount rate, finance lease 6.98% 0.00%
Weighted-average remaining lease term, operating lease 4 years 8 months 12 days 1 year 9 months 18 days
Weighted-average discount rate, operating lease 6.93% 5.20%
v3.25.4
Leases - Supplemental Cash Flows (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash paid for amounts included in the measurement of lease liabilities:      
Operating cash flows used by operating leases $ 2,569 $ 2,861 $ 2,933
Financing cash used by finance leases 3 127 1,533
Right-of-use assets obtained in exchange for new lease liabilities:      
Operating leases 4,426 867 224
Finance leases $ 121 $ 0 $ 0
v3.25.4
Credit Facility- Revolving Line of Credit (Details) - USD ($)
 1 Months Ended 12 Months Ended
Aug. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Sep. 30, 2021
Revolving Line of Credit        
Debt Instrument [Line Items]        
Maximum borrowing capacity       $ 50,000,000.0
Revolving Line of Credit | Amended Revolving Credit Facility August 2024        
Debt Instrument [Line Items]        
Maximum borrowing capacity $ 25,000,000.0      
Credit facility, amount drawn down   $ 0    
Percentage of unused facility fee to be paid quarterly (as percent) 0.10%      
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]   Prime Rate [Member] Prime Rate [Member]  
Debt instrument, interest rate   6.75% 7.50%  
Debt instrument, aggregate borrowing amount subject to minimum debt to EBITDA ratio, financial covenant $ 5,000,000.0      
Letter of Credit | Amended Revolving Credit Facility August 2024        
Debt Instrument [Line Items]        
Maximum borrowing capacity 4,000,000.0      
Letter of Credit | Property Lease Guarantee | Amended Revolving Credit Facility August 2024        
Debt Instrument [Line Items]        
Letters of credit outstanding, amount   $ 200,000    
Credit Card Sublimit | Amended Revolving Credit Facility August 2024        
Debt Instrument [Line Items]        
Maximum borrowing capacity 1,000,000.0      
Revolving Credit Facility with at least $100 million deposit | Amended Revolving Credit Facility August 2024        
Debt Instrument [Line Items]        
Maximum borrowing capacity 25,000,000.0      
Revolving Credit Facility with at least $100 million deposit | Minimum | Bank Deposits | Amended Revolving Credit Facility August 2024        
Debt Instrument [Line Items]        
Cash to be maintained per agreement 100,000,000.0      
Revolving Credit Facility with less than $100 million deposit | Amended Revolving Credit Facility August 2024        
Debt Instrument [Line Items]        
Maximum borrowing capacity $ 25,000,000.0      
Recurring revenue trailing period (in months) 5 months      
Revolving Credit Facility with less than $100 million deposit | Maximum | Bank Deposits | Amended Revolving Credit Facility August 2024        
Debt Instrument [Line Items]        
Cash to be maintained per agreement $ 100,000,000.0      
v3.25.4
Commitment and Contingencies - Unrecorded Purchase Obligations (Details)
$ in Thousands
Dec. 31, 2025
USD ($)
Commitments and Contingencies Disclosure [Abstract]  
2026 $ 2,721
2027 1,075
Total $ 3,796
v3.25.4
Commitment and Contingencies - Recorded Purchase Obligations (Details)
$ in Millions
Dec. 31, 2025
USD ($)
Software License Fees  
Recorded Unconditional Purchase Obligation [Line Items]  
Recognized purchase commitments $ 3.3
v3.25.4
Commitment and Contingencies - Contingencies and Legal Proceedings (Details) - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Consolidated Putative Class Action | Pending Litigation    
Loss Contingencies [Line Items]    
Accrued litigation expense $ 0  
Sales and Use Tax Assessments    
Loss Contingencies [Line Items]    
Accrual loss contingency 0 $ 0
Minimum | Sales and Use Tax Assessments    
Loss Contingencies [Line Items]    
Loss contingency, estimate of possible loss 0  
Maximum | Sales and Use Tax Assessments    
Loss Contingencies [Line Items]    
Loss contingency, estimate of possible loss $ 500,000  
v3.25.4
Stockholders’ Equity and Equity Incentive Plan - Preferred Stock (Details)
Feb. 05, 2021
$ / shares
shares
Equity [Abstract]  
Undesignated preferred stock shares authorized (in shares) | shares 10,000,000
Undesignated preferred stock par value (in dollars per share) | $ / shares $ 0.0001
v3.25.4
Stockholders’ Equity and Equity Incentive Plan- Common Stock (Details)
Feb. 05, 2021
vote
$ / shares
shares
Dec. 31, 2025
$ / shares
shares
Dec. 31, 2024
$ / shares
shares
Equity [Abstract]      
Common stock, authorized (in shares) | shares 500,000,000 500,000,000 500,000,000
Common stock, par value (in dollars per share) | $ / shares $ 0.0001 $ 0.0001 $ 0.0001
Number of votes per share | vote 1    
v3.25.4
Stockholders’ Equity and Equity Incentive Plan - Common Stock Reserved for Future Issuance (Details) - shares
Dec. 31, 2025
Dec. 31, 2024
Feb. 05, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]      
Stock options outstanding (in shares) 4,260,587 5,547,559  
Number of shares available for future issuance (in shares) 14,128,879    
Common Stock      
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]      
Stock options outstanding (in shares) 4,260,587    
2021 Equity Incentive Plan      
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]      
Number of shares available for future issuance (in shares)     6,400,000
2021 Equity Incentive Plan | Common Stock      
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]      
Common stock, shares available for grant (in shares) 2,176,433    
2021 Employee Stock Purchase Plan | ESPP | Common Stock      
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]      
Common stock, shares available for grant (in shares) 2,417,767    
Number of shares available for future issuance (in shares)     1,300,000
Restricted Stock | Common Stock      
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]      
Restricted stock outstanding (in shares) 5,274,092    
v3.25.4
Stockholders’ Equity and Equity Incentive Plan- Equity Incentive Plan (Details) - shares
Feb. 05, 2021
Jan. 01, 2026
Dec. 31, 2025
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]      
Number of shares available for future issuance (in shares)     14,128,879
2021 Plan      
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]      
Number of shares available for future issuance (in shares) 6,400,000    
Percent of outstanding stock from Jan 1, 2022 to Jan 1, 2031, maximum 5.00%    
2021 Plan | Subsequent Event      
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]      
Number of additional shares authorized (in shares)   2,129,420  
2021 Plan | Maximum | Employee Stock Option      
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]      
Term of stock options granted 10 years    
v3.25.4
Stockholders’ Equity and Equity Incentive Plan - Repurchase of Common Stock - Additional Information (Details) - USD ($)
$ in Thousands
 1 Months Ended 11 Months Ended 12 Months Ended
Mar. 31, 2024
Feb. 29, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
May 08, 2025
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]            
Stock repurchased during period, value     $ 22,095 $ 25,777 $ 74,569  
Repurchase Program under the Capital Return Program | Common Stock            
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]            
Stock repurchased during period, value   $ 75,000        
2024 Repurchase Program | Common Stock            
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]            
Share repurchase program, authorized amount $ 25,000          
Stock repurchase program, term (in months) 12 months          
2025 Repurchase Program | Common Stock            
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]            
Share repurchase program, authorized amount           $ 50,000
Share repurchase program, remaining authorized, amount     $ 32,400      
v3.25.4
Stockholders’ Equity and Equity Incentive Plan - Repurchase of Common Stock - Table (Details) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Equity [Abstract]      
Number of shares repurchased (in shares) 3,900,269 4,000,990 9,762,758
Average price per share, including commissions (in dollars per share) $ 5.67 $ 6.44 $ 7.64
Total repurchase costs, including commissions $ 22.1 $ 25.8 $ 74.6
v3.25.4
Stockholders’ Equity and Equity Incentive Plan - Dividends (Details) - USD ($)
$ / shares in Units, $ in Thousands
 1 Months Ended 3 Months Ended 12 Months Ended
Jun. 30, 2023
Jun. 30, 2023
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]          
Payment of special dividend     $ 0 $ 0 $ 49,872
S2023A Dividends          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]          
Declared cash dividend (in dollars per share)         $ 1.09
Cash dividends payment (in dollars per share) $ 1.09        
Payment of special dividend   $ 49,900      
v3.25.4
Stockholders’ Equity and Equity Incentive Plan - Antidilution Adjustments to the Outstanding Awards (Details)
May 08, 2023
USD ($)
Equity [Abstract]  
Share-based payment arrangement, antidilution adjustment, incremental cost $ 0
v3.25.4
Stockholders’ Equity and Equity Incentive Plan - Schedule of RSU Activity Under Equity Incentive Plans and Related Information (Details) - Restricted Stock Units
 12 Months Ended
Dec. 31, 2025
$ / shares
shares
Number of Shares  
Unvested beginning balance (in shares) | shares 5,051,759
Granted (in shares) | shares 2,808,310
Vested (in shares) | shares (3,283,637)
Cancelled and forfeited (in shares) | shares (509,462)
Unvested ending balance (in shares) | shares 4,066,970
Weighted-Average Grant Date Fair Value  
Unvested beginning balance (in dollars per share) | $ / shares $ 8.20
Granted (in dollars per share) | $ / shares 5.48
Vested (in dollars per share) | $ / shares 8.39
Cancelled and forfeited (in dollars per share) | $ / shares 7.77
Unvested ending balance (in dollars per share) | $ / shares $ 6.23
v3.25.4
Stockholders’ Equity and Equity Incentive Plan - Restricted Stock Units (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Restricted Stock Units      
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]      
Total fair value of award vested $ 18.7 $ 22.0 $ 18.2
v3.25.4
Stockholders’ Equity and Equity Incentive Plan - Restricted Stock Unit with Performance Conditions (Details) - Executive Officer - Share-based Payment Arrangement, Employee
 1 Months Ended 3 Months Ended 9 Months Ended 12 Months Ended 21 Months Ended 33 Months Ended 39 Months Ended
May 31, 2023
shares
Jun. 30, 2025
USD ($)
installemnt
consecutive_trading_day
shares
Jun. 30, 2024
USD ($)
shares
Jun. 30, 2023
USD ($)
shares
Dec. 31, 2022
USD ($)
shares
Dec. 31, 2025
shares
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2025
shares
Dec. 31, 2025
shares
Dec. 31, 2025
shares
Feb. 28, 2026
Market Performance-Based Restricted Stock Units (MPSUs)                          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]                          
Total fair value of award vested | $             $ 700,000 $ 1,000,000.0 $ 0        
PSUs Granted in Second Quarter 2025 | Performance-Based Restricted Stock Units (PSUs)                          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]                          
Granted (in shares)   245,000                      
Grant date fair value | $   $ 1,400,000                      
Number of shares vested (in shares)           0              
PSUs Granted in Second Quarter 2025 | Performance-Based Restricted Stock Units (PSUs) | Subsequent Event                          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]                          
Percentage of awards earned (as a percentage)                         100.63%
PSUs Granted in Second Quarter 2025 | Performance-Based Restricted Stock Units (PSUs) | Share-Based Payment Arrangement, Tranches Two Through Nine                          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]                          
Number of award vesting installments | installemnt   8                      
PSUs Granted in Second Quarter 2025 | Performance-Based Restricted Stock Units (PSUs) | Share-Based Payment Arrangement, Tranche One                          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]                          
Award vesting percentage   33.00%                      
PSUs Granted in Second Quarter 2025 | Performance-Based Restricted Stock Units (PSUs) | Share-Based Payment Arrangement, Tranche Two                          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]                          
Award vesting percentage   8.375%                      
PSUs Granted in Second Quarter 2025 | Performance-Based Restricted Stock Units (PSUs) | Share-Based Payment Arrangement, Tranche Three                          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]                          
Award vesting percentage   8.375%                      
PSUs Granted in Second Quarter 2025 | Performance-Based Restricted Stock Units (PSUs) | Share-Based Payment Arrangement, Tranche Four                          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]                          
Award vesting percentage   8.375%                      
PSUs Granted in Second Quarter 2025 | Performance-Based Restricted Stock Units (PSUs) | Share-Based Payment Arrangement, Tranche Five                          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]                          
Award vesting percentage   8.375%                      
PSUs Granted in Second Quarter 2025 | Performance-Based Restricted Stock Units (PSUs) | Share-Based Payment Arrangement, Tranche Six                          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]                          
Award vesting percentage   8.375%                      
PSUs Granted in Second Quarter 2025 | Performance-Based Restricted Stock Units (PSUs) | Share-Based Payment Arrangement, Tranche Seven                          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]                          
Award vesting percentage   8.375%                      
PSUs Granted in Second Quarter 2025 | Performance-Based Restricted Stock Units (PSUs) | Share-Based Payment Arrangement, Tranche Eight                          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]                          
Award vesting percentage   8.375%                      
PSUs Granted in Second Quarter 2025 | Performance-Based Restricted Stock Units (PSUs) | Share-Based Payment Arrangement, Tranche Nine                          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]                          
Award vesting percentage   8.375%                      
PSUs Granted in Second Quarter 2025 | Performance-Based Restricted Stock Units (PSUs) | Minimum                          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]                          
Payout range (as a percentage)   0.00%                      
PSUs Granted in Second Quarter 2025 | Performance-Based Restricted Stock Units (PSUs) | Maximum                          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]                          
Payout range (as a percentage)   200.00%                      
MPSUs Granted in Second Quarter 2025 | Market Performance-Based Restricted Stock Units (MPSUs)                          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]                          
Granted (in shares)   245,000                      
Grant date fair value | $   $ 600,000                      
Number of shares vested (in shares)           0              
Award vesting, threshold consecutive trading days | consecutive_trading_day   20                      
MPSUs Granted in Second Quarter 2024 | Market Performance-Based Restricted Stock Units (MPSUs)                          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]                          
Granted (in shares)     805,494                    
Grant date fair value | $     $ 6,800,000                    
Number of shares vested (in shares)                   99,652      
Requisite service period     3 years                    
Performance periods, maximum earned MPSUs capped at 125% for tranche 1 & tranche 2     2 years                    
MPSUs Granted in Second Quarter 2024 | Market Performance-Based Restricted Stock Units (MPSUs) | Share-Based Payment Arrangement, Tranche One                          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]                          
Award vesting percentage     33.33%                    
Maximum payout range (as a percentage)     125.00%                    
MPSUs Granted in Second Quarter 2024 | Market Performance-Based Restricted Stock Units (MPSUs) | Share-Based Payment Arrangement, Tranche Two                          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]                          
Award vesting percentage     33.33%                    
Maximum payout range (as a percentage)     125.00%                    
MPSUs Granted in Second Quarter 2024 | Market Performance-Based Restricted Stock Units (MPSUs) | Share-Based Payment Arrangement, Tranche Three                          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]                          
Award vesting percentage     33.34%                    
MPSUs Granted in Second Quarter 2024 | Market Performance-Based Restricted Stock Units (MPSUs) | Minimum                          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]                          
Payout range (as a percentage)     0.00%                    
MPSUs Granted in Second Quarter 2024 | Market Performance-Based Restricted Stock Units (MPSUs) | Maximum                          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]                          
Payout range (as a percentage)     200.00%                    
MPSUs Granted in Second Quarter 2023 | Market Performance-Based Restricted Stock Units (MPSUs)                          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]                          
Granted (in shares)       203,000                  
Grant date fair value | $       $ 2,500,000                  
Number of shares vested (in shares)                     47,819    
Requisite service period       3 years                  
Performance periods, maximum earned MPSUs capped at 125% for tranche 1 & tranche 2       2 years                  
Anti-dilution adjustment (in shares) 32,204                        
MPSUs Granted in Second Quarter 2023 | Market Performance-Based Restricted Stock Units (MPSUs) | Share-Based Payment Arrangement, Tranche One                          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]                          
Award vesting percentage       33.33%                  
Maximum payout range (as a percentage)       125.00%                  
MPSUs Granted in Second Quarter 2023 | Market Performance-Based Restricted Stock Units (MPSUs) | Share-Based Payment Arrangement, Tranche Two                          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]                          
Award vesting percentage       33.33%                  
Maximum payout range (as a percentage)       125.00%                  
MPSUs Granted in Second Quarter 2023 | Market Performance-Based Restricted Stock Units (MPSUs) | Share-Based Payment Arrangement, Tranche Three                          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]                          
Award vesting percentage       33.34%                  
MPSUs Granted in Second Quarter 2023 | Market Performance-Based Restricted Stock Units (MPSUs) | Minimum                          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]                          
Payout range (as a percentage)       0.00%                  
MPSUs Granted in Second Quarter 2023 | Market Performance-Based Restricted Stock Units (MPSUs) | Maximum                          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]                          
Payout range (as a percentage)       200.00%                  
MPSUs Granted in Fourth Quarter 2022 | Market Performance-Based Restricted Stock Units (MPSUs)                          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]                          
Granted (in shares)         341,404                
Grant date fair value | $         $ 4,200,000                
Number of shares vested (in shares)                       75,976  
Requisite service period         3 years                
Performance periods, maximum earned MPSUs capped at 125% for tranche 1 & tranche 2         2 years                
Anti-dilution adjustment (in shares) 54,167                        
MPSUs Granted in Fourth Quarter 2022 | Market Performance-Based Restricted Stock Units (MPSUs) | Share-Based Payment Arrangement, Tranche One                          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]                          
Award vesting percentage         33.33%                
Maximum payout range (as a percentage)         125.00%                
MPSUs Granted in Fourth Quarter 2022 | Market Performance-Based Restricted Stock Units (MPSUs) | Share-Based Payment Arrangement, Tranche Two                          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]                          
Award vesting percentage         33.33%                
Maximum payout range (as a percentage)         125.00%                
MPSUs Granted in Fourth Quarter 2022 | Market Performance-Based Restricted Stock Units (MPSUs) | Share-Based Payment Arrangement, Tranche Three                          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]                          
Award vesting percentage         33.34%                
MPSUs Granted in Fourth Quarter 2022 | Market Performance-Based Restricted Stock Units (MPSUs) | Minimum                          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]                          
Payout range (as a percentage)         0.00%                
MPSUs Granted in Fourth Quarter 2022 | Market Performance-Based Restricted Stock Units (MPSUs) | Maximum                          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]                          
Payout range (as a percentage)         200.00%                
v3.25.4
Stockholders’ Equity and Equity Incentive Plan - Schedule of Stock Options (Details) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested, Number of Shares [Roll Forward]      
Beginning balance (in shares) 5,547,559    
Granted (in shares) 0 0 0
Exercised (in shares) (1,162,283)    
Cancelled and forfeited (in shares) (124,689)    
Ending balance (in shares) 4,260,587 5,547,559  
Vested and exercisable (in shares) 4,260,587    
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures and Expirations in Period, Weighted Average Exercise Price [Abstract]      
Beginning balance (in dollars per share) $ 6.75    
Granted (in dollars per share) 0    
Exercised (in dollars per share) 1.23    
Cancelled and forfeited (in dollars per share) 15.46    
Ending Balance (in dollars per share) 8.01 $ 6.75  
Vested and exercisable (in dollars per share) $ 8.01    
Ending balance, weighted average remaining contractual life (in years) 3 years 11 months 26 days    
Vested and exercisable, weighted average remaining contractual life (in years) 3 years 11 months 26 days    
Exercised, aggregate intrinsic value $ 5,142 $ 6,300 $ 5,200
Outstanding ending balance, aggregate intrinsic value 15,017    
Vested and exercisable, aggregate intrinsic value $ 15,017    
v3.25.4
Stockholders’ Equity and Equity Incentive Plan - Employee Stock Purchase Plan (Details) - $ / shares
 12 Months Ended
Feb. 05, 2021
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Jan. 01, 2026
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]          
Number of shares available for future issuance (in shares)   14,128,879      
2021 Employee Stock Purchase Plan | Common Stock          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]          
Purchase of common stock under ESPP (in shares)   110,480 121,805 159,536  
Employee stock purchase plan, shares purchased price paid per share (in dollars per share)   $ 4.66 $ 5.49 $ 6.32  
2021 Employee Stock Purchase Plan | Common Stock | ESPP          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]          
Number of shares available for future issuance (in shares) 1,300,000        
Maximum percentage of number of shares of stock issued and outstanding on the immediately preceding December 31 reserved for ESPP increases 1.00%        
Number of additional shares authorized (in shares) 1,300,000        
Maximum Percentage of employees earnings contribution for purchase of common stock under ESPP 20.00%        
2021 Employee Stock Purchase Plan | Common Stock | ESPP | Subsequent Event          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]          
Number of additional shares reserved pursuant to automatic annual increase (in shares)         425,884
2021 Employee Stock Purchase Plan | Common Stock | ESPP | First Date of ESPP Offering          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]          
Percentage of purchase price of common stock to fair market value of common stock on offering or purchase date 85.00%        
2021 Employee Stock Purchase Plan | Common Stock | ESPP | Date of Purchase of ESPP Offering          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]          
Percentage of purchase price of common stock to fair market value of common stock on offering or purchase date 85.00%        
v3.25.4
Stockholders’ Equity and Equity Incentive Plan - Schedule of Black-Scholes Assumptions Used to Value the Employee Stock Purchase Rights and Schedule of Monte Carlo Assumptions Used to Value the Market Performance-Based Restricted Stock Units (Detail)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]      
Dividend yield 0.00%    
ESPP      
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]      
Expected term 6 months 6 months 6 months
Expected volatility, minimum 35.55% 33.79% 43.79%
Expected volatility, maximum 39.45% 38.56% 49.38%
Risk-free interest rate, minimum 3.80% 4.44% 5.26%
Risk-free interest rate, maximum 4.30% 5.41% 5.38%
Dividend yield 0.00% 0.00% 0.00%
Market Performance-Based Restricted Stock Units (MPSUs)      
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]      
Expected term     2 years 8 months 8 days
Expected volatility, minimum 39.30% 45.77%  
Expected volatility, maximum 40.30% 45.81%  
Expected volatility     53.10%
Risk-free interest rate, minimum 3.74% 4.81%  
Risk-free interest rate, maximum 3.91% 4.86%  
Risk-free interest rate     3.98%
Dividend yield 0.00% 0.00% 0.00%
Minimum | Market Performance-Based Restricted Stock Units (MPSUs)      
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]      
Expected term 2 years 7 months 6 days 2 years 8 months 4 days  
Maximum | Market Performance-Based Restricted Stock Units (MPSUs)      
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]      
Expected term 2 years 8 months 1 day 2 years 8 months 8 days  
v3.25.4
Stockholders’ Equity and Equity Incentive Plan - Expected Dividend Yield (Details) - $ / shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]      
Dividend yield 0.00%    
O2023A      
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]      
Cash dividends payment (in dollars per share)     $ 0
Declared cash dividend (in dollars per share)     $ 0
O2024A      
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]      
Cash dividends payment (in dollars per share)   $ 0  
Declared cash dividend (in dollars per share)   $ 0  
O2025A      
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]      
Cash dividends payment (in dollars per share) $ 0    
Declared cash dividend (in dollars per share) $ 0    
v3.25.4
Stockholders’ Equity and Equity Incentive Plan - Schedule of Share-based Compensation Expense by line item in the Consolidated Statements of Operations (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Class Of Stock [Line Items]      
Total stock-based compensation expense $ 28,685 $ 45,187 $ 45,017
Cost of revenue      
Class Of Stock [Line Items]      
Total stock-based compensation expense 1,980 3,147 3,359
Cost of revenue | Subscription and other platform      
Class Of Stock [Line Items]      
Total stock-based compensation expense 1,524 2,612 2,814
Cost of revenue | Professional services      
Class Of Stock [Line Items]      
Total stock-based compensation expense 456 535 545
Sales and marketing      
Class Of Stock [Line Items]      
Total stock-based compensation expense 8,156 12,371 13,974
Research and development      
Class Of Stock [Line Items]      
Total stock-based compensation expense 5,291 8,911 9,126
General and administrative      
Class Of Stock [Line Items]      
Total stock-based compensation expense $ 13,258 $ 20,758 $ 18,558
v3.25.4
Stockholders’ Equity and Equity Incentive Plan - Schedule of Unrecognized Stock-based Compensation Expense (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
USD ($)
ESPP  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Unrecognized stock-based compensation expense $ 61
Weighted-average amortization period 4 months 13 days
Restricted Stock  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Unrecognized stock-based compensation expense $ 23,534
Weighted-average amortization period 1 year 7 months 28 days
v3.25.4
Employee Benefit Plan (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Defined Contribution Plan Disclosure [Line Items]      
Defined Contribution Plan, Type [Extensible Enumeration] Other Postretirement Benefits Plan    
Defined Contribution Plan, Tax Status [Extensible Enumeration] Qualified Plan [Member]    
Other Postretirement Benefits Plan | 401K Plan      
Defined Contribution Plan Disclosure [Line Items]      
Amount of compensation automatically deferred 3.00%    
Amount of compensation automatically deferred, annual escalator amount 1.00%    
Deferral rate, percent 6.00%    
Amount of deferrals, rollovers and matching contributions automatically vested when contributed 100.00%    
Contribution expense $ 200,000 $ 200,000 $ 200,000
Other Postretirement Benefits Plan | 401K Plan | Maximum      
Defined Contribution Plan Disclosure [Line Items]      
Maximum contribution amount per participant $ 500 $ 500 $ 500
v3.25.4
Other Income, Net (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Other Income and Expenses [Abstract]      
Interest income $ (6,322) $ (4,067) $ (3,913)
Accretion on marketable securities (957) (5,169) (7,716)
Foreign currency (gains) losses (194) 70 374
Other (10) (2) (48)
Other income, net $ (7,483) $ (9,168) $ (11,303)
v3.25.4
Income Taxes - Components of Income (Loss) Before Provision for (Benefit from) Income Taxes (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosure [Abstract]      
Domestic $ (29,391) $ (44,116) $ (54,585)
Foreign 936 2,593 3,794
Loss before provision for income taxes $ (28,455) $ (41,523) $ (50,791)
v3.25.4
Income Taxes - Provision for (Benefit from) Income Taxes (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Current tax expense      
Federal $ 0 $ 0 $ 0
State 63 70 31
Foreign 341 652 773
Total current tax expense 404 722 804
Deferred tax expense:      
Federal 0 0 0
State 0 0 0
Foreign (6) (89) 191
Total deferred tax expense (6) (89) 191
Provision for income taxes $ 398 $ 633 $ 995
v3.25.4
Income Taxes - Reconciliation for Provision for (Benefit from) Income Taxes (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosure [Abstract]      
Tax benefit at U.S. statutory rate $ (5,976) $ (8,720) $ (10,666)
State income taxes, net of federal benefit 11 70 24
Foreign income and withholding taxes 63 80 135
Change in uncertain tax positions 25 44 115
Stock-based compensation 1,725 2,848 2,728
Section 162(m) 2,001 2,649 2,311
Expired attributes 250 151 49
Change in valuation allowance 2,229 3,705 5,791
Research and development credits (348) (445) (599)
Global Intangible Low-Taxed Income 243 82 495
Non-deductible transactions costs 251 0 554
Other (76) 169 58
Provision for income taxes $ 398 $ 633 $ 995
v3.25.4
Income Taxes - Additional Information (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Investments, Owned, Federal Income Tax Note [Line Items]      
Undistributed earnings of the Company's foreign subsidiaries $ 2,300,000 $ 400,000 $ 4,900,000
Increase in valuation allowance 2,900,000    
Valuation allowance $ 59,921,000 $ 56,991,000  
Net operating loss carryover limit based on taxable income 80.00%    
Tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly increase or decrease $ 0    
Amount of of unrecognized tax benefits that would affect Company's effective tax rate if recognized $ 600,000    
Minimum      
Investments, Owned, Federal Income Tax Note [Line Items]      
Years remaining open to examination 3 years    
Maximum      
Investments, Owned, Federal Income Tax Note [Line Items]      
Years remaining open to examination 4 years    
Foreign Tax Authority      
Investments, Owned, Federal Income Tax Note [Line Items]      
Valuation allowance $ 0    
Federal      
Investments, Owned, Federal Income Tax Note [Line Items]      
Net operating loss carryforwards 137,100,000    
Net operating loss carryforwards indefinitely 85,400,000    
Federal | Research Tax Credit Carryforward      
Investments, Owned, Federal Income Tax Note [Line Items]      
Research and development credit carryforwards 7,200,000    
State      
Investments, Owned, Federal Income Tax Note [Line Items]      
Net operating loss carryforwards 109,100,000    
State | Research Tax Credit Carryforward      
Investments, Owned, Federal Income Tax Note [Line Items]      
Research and development credit carryforwards $ 7,100,000    
v3.25.4
Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Deferred tax assets    
Accrued expense and others $ 3,100 $ 3,548
Stock-based compensation 4,494 4,830
Net operating losses 34,832 33,518
Tax credit carryforwards 9,873 9,196
Fixed assets 196 583
Intangibles and capitalized R&D costs 12,733 11,153
Lease liability 1,195 596
Gross deferred tax assets 66,423 63,424
Valuation allowance (59,921) (56,991)
Total deferred tax assets 6,502 6,433
Deferred tax liabilities    
Right-of-use Asset (1,158) (326)
Deferred commissions (4,904) (5,698)
Total deferred tax liabilities (6,062) (6,024)
Net deferred tax assets $ 440 $ 409
v3.25.4
Income Taxes - Unrecognized Tax Benefits (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Reconciliation of Total Unrecognized Tax Position      
Beginning balance $ 3,586 $ 3,151 $ 2,882
Increase related to prior year tax provisions 683 164 0
Increase related to current year tax positions 366 340 289
Decrease due to lapse of applicable statute of limitations (128) (69) (20)
Ending balance $ 4,507 $ 3,586 $ 3,151
v3.25.4
Net Loss Per Share - Schedule of Computation of Basic and Diluted Net Loss Per Share (Details) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Basic net income (loss) per share      
Net loss $ (28,853) $ (42,156) $ (51,786)
Net loss per share of common stock, basic (in dollars per share) $ (0.68) $ (1.01) $ (1.16)
Net loss per share of common stock, diluted (in dollars per share) $ (0.68) $ (1.01) $ (1.16)
Weighted-average common stock outstanding, basic (in shares) 42,448,269 41,759,879 44,644,792
Weighted-average common stock outstanding, diluted (in shares) 42,448,269 41,759,879 44,644,792
v3.25.4
Net Loss Per Share - Schedule of Potential Shares of Common Stock Excluded from Computation of Diluted Net Loss Per Share (Details) - shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]      
Total antidilutive securities (in shares) 9,589,249 11,879,906 13,634,377
Stock options      
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]      
Total antidilutive securities (in shares) 4,260,587 5,547,559 6,974,082
Restricted stock units      
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]      
Total antidilutive securities (in shares) 4,066,970 5,051,759 5,952,386
Performance stock units      
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]      
Total antidilutive securities (in shares) 1,207,122 1,219,062 630,775
ESPP purchase rights      
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]      
Total antidilutive securities (in shares) 54,570 61,526 77,134
v3.25.4
Related Party Transactions (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Related Party Transaction [Line Items]      
Research and development $ 32,972 $ 36,250 $ 41,122
Immediate Family Member of Management | Accounts Payable and Accrued Liabilities      
Related Party Transaction [Line Items]      
Accounts payable and accrued liabilities, current 700 400  
Research and development | Immediate Family Member of Management      
Related Party Transaction [Line Items]      
Research and development $ 2,800 $ 2,600 $ 2,700
v3.25.4
Restructuring - Schedule of Restructuring Costs (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]      
Lease Impairment Charge $ 0 $ 0 $ 1,461
Cost Reduction And Cost Structure Reduction Plans      
Restructuring Cost and Reserve [Line Items]      
Severance and Related Charges 2,097 2,556 6,398
Lease Impairment Charge 0 0 1,461
Total 2,097 2,556 7,859
Cost Reduction And Cost Structure Reduction Plans | Cost of revenue      
Restructuring Cost and Reserve [Line Items]      
Severance and Related Charges 658 400 2,364
Lease Impairment Charge 0 0 227
Total 658 400 2,591
Cost Reduction And Cost Structure Reduction Plans | Sales and marketing      
Restructuring Cost and Reserve [Line Items]      
Severance and Related Charges 1,177 1,705 2,246
Lease Impairment Charge 0 0 256
Total 1,177 1,705 2,502
Cost Reduction And Cost Structure Reduction Plans | Research and development      
Restructuring Cost and Reserve [Line Items]      
Severance and Related Charges 159 112 1,397
Lease Impairment Charge 0 0 569
Total 159 112 1,966
Cost Reduction And Cost Structure Reduction Plans | General and administrative      
Restructuring Cost and Reserve [Line Items]      
Severance and Related Charges 103 339 391
Lease Impairment Charge 0 0 409
Total 103 339 800
Subscription and other platform | Cost Reduction And Cost Structure Reduction Plans      
Restructuring Cost and Reserve [Line Items]      
Severance and Related Charges 620 377 2,215
Lease Impairment Charge 0 0 108
Total 620 377 2,323
Professional services | Cost Reduction And Cost Structure Reduction Plans      
Restructuring Cost and Reserve [Line Items]      
Severance and Related Charges 38 23 149
Lease Impairment Charge 0 0 119
Total $ 38 $ 23 $ 268
v3.25.4
Restructuring - Additional Information (Details) - Cost Reduction And Cost Structure Reduction Plans - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]        
Payment for restructuring costs   $ 2,000 $ 2,600 $ 6,500
Restructuring costs   $ 2,097 $ 2,556 $ 6,398
Minimum | Amount Expected to Incur        
Restructuring Cost and Reserve [Line Items]        
Restructuring costs $ 300      
Maximum | Amount Expected to Incur        
Restructuring Cost and Reserve [Line Items]        
Restructuring costs $ 500      
v3.25.4
Segment Information - Narrative (Details)
 12 Months Ended
Dec. 31, 2025
segment
Segment Reporting [Abstract]  
Number of operating segments 1
Number of reportable segments 1
v3.25.4
Segment Information - Schedule of Revenue, Expenses and Net Loss (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting Information [Line Items]      
Revenue $ 139,312 $ 148,081 $ 163,708
Less segment cost and expenses:      
Cost of revenue 35,344 38,012 46,263
Sales and marketing 68,094 78,077 89,200
Research and development 32,972 36,250 41,122
General and administrative 38,677 46,399 49,124
Net loss (28,853) (42,156) (51,786)
Reportable Segment      
Segment Reporting Information [Line Items]      
Revenue 139,312 148,081 163,708
Less segment cost and expenses:      
Cost of revenue 33,364 34,865 42,904
Sales and marketing 59,938 65,706 75,226
Research and development 27,681 27,339 31,996
General and administrative 25,419 25,641 30,566
Other expenses 21,763 36,686 34,802
Net loss $ (28,853) $ (42,156) $ (51,786)
v3.25.4
Segment Information - Schedule of Property and Equipment, Net of Depreciation and Amortization, by Geographic Region (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Property Plant And Equipment [Line Items]    
Total property and equipment, net $ 4,992 $ 6,673
United States    
Property Plant And Equipment [Line Items]    
Total property and equipment, net 4,800 6,487
EMEA    
Property Plant And Equipment [Line Items]    
Total property and equipment, net 177 173
Other    
Property Plant And Equipment [Line Items]    
Total property and equipment, net $ 15 $ 13