PINTEREST, INC., 10-K filed on 2/3/2022
Annual Report
v3.22.0.1
Cover Page - USD ($)
$ in Billions
 12 Months Ended
Dec. 31, 2021
Jan. 28, 2022
Jun. 30, 2021
Document Information [Line Items]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2021    
Current Fiscal Year End Date --12-31    
Document Transition Report false    
Entity File Number 001-38872    
Entity Registrant Name Pinterest, Inc.    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 26-3607129    
Entity Address, Address Line One 505 Brannan Street    
Entity Address, City or Town San Francisco    
Entity Address, State or Province CA    
Entity Address, Postal Zip Code 94107    
City Area Code 415    
Local Phone Number 762-7100    
Title of 12(b) Security Class A Common Stock, $0.00001 par value    
Trading Symbol PINS    
Security Exchange Name NYSE    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Entity Shell Company false    
Entity Public Float     $ 40.9
Documents Incorporated by Reference Portions of the registrant’s definitive Proxy Statement for the 2022 Annual Meeting of Stockholders are incorporated by reference into Part III of this Annual Report on Form 10-K where indicated. Such Definitive Proxy Statement will be filed with the Securities and Exchange Commission within 120 days after the end of the registrant’s fiscal year ended December 31, 2021.    
Document Fiscal Period Focus FY    
Amendment Flag false    
Document Fiscal Year Focus 2021    
Entity Central Index Key 0001506293    
Class A Common Stock      
Document Information [Line Items]      
Entity Common Stock, Shares Outstanding   569,515,700  
Class B Common Stock      
Document Information [Line Items]      
Entity Common Stock, Shares Outstanding   88,629,202  
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Audit Information
 12 Months Ended
Dec. 31, 2021
Audit Information [Abstract]  
Auditor Name Ernst & Young LLP
Auditor Firm ID 42
Auditor Location San Francisco, California
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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 1,419,630 $ 669,230
Marketable securities 1,060,488 1,091,076
Accounts receivable, net of allowances of $8,282 and $8,811 as of December 31, 2021 and 2020, respectively 653,355 563,733
Prepaid expenses and other current assets 48,090 33,502
Total current assets 3,181,563 2,357,541
Property and equipment, net 53,401 69,375
Operating lease right-of-use assets 227,912 155,916
Goodwill and intangible assets, net 61,115 13,562
Other assets 13,247 13,065
Total assets 3,537,238 2,609,459
Current liabilities:    
Accounts payable 17,675 49,491
Accrued expenses and other current liabilities 242,131 155,340
Total current liabilities 259,806 204,831
Operating lease liabilities 209,181 139,321
Other liabilities 29,508 22,936
Total liabilities 498,495 367,088
Commitments and contingencies
Stockholders’ equity:    
Common stock 7 6
Additional paid-in capital 5,059,528 4,574,934
Accumulated other comprehensive income (loss) (2,181) 2,480
Accumulated deficit (2,018,611) (2,335,049)
Total stockholders’ equity 3,038,743 2,242,371
Total liabilities and stockholders’ equity $ 3,537,238 $ 2,609,459
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CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
shares in Thousands, $ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Allowances $ 8,282 $ 8,811
Class A Common Stock    
Common stock, par value (in dollars per share) $ 0.00001 $ 0.00001
Common stock, shares authorized (in shares) 6,666,667 6,666,667
Common stock, shares issued (in shares) 568,228 530,140
Common stock, shares outstanding (in shares) 568,228 530,140
Class B Common Stock    
Common stock, par value (in dollars per share) $ 0.00001 $ 0.00001
Common stock, shares authorized (in shares) 1,333,333 1,333,333
Common stock, shares issued (in shares) 88,644 96,232
Common stock, shares outstanding (in shares) 88,644 96,232
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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Income Statement [Abstract]      
Revenue $ 2,578,027 $ 1,692,658 $ 1,142,761
Costs and expenses:      
Cost of revenue 529,320 449,358 358,903
Research and development 780,264 606,194 1,207,059
Sales and marketing 641,279 442,807 611,590
General and administrative 300,977 336,803 354,075
Total costs and expenses 2,251,840 1,835,162 2,531,627
Income (loss) from operations 326,187 (142,504) (1,388,866)
Interest income 4,204 16,119 30,164
Interest expense and other income (expense), net (9,420) (635) (2,137)
Income (loss) before provision for income taxes 320,971 (127,020) (1,360,839)
Provision for income taxes 4,533 1,303 532
Net income (loss) $ 316,438 $ (128,323) $ (1,361,371)
Net income (loss) per share attributable to common stockholders:      
Net loss per share attributable to common stockholders, basic (in dollars per share) $ 0.49 $ (0.22) $ (3.24)
Net loss per share attributable to common stockholders, diluted (in dollars per share) $ 0.46 $ (0.22) $ (3.24)
Weighted-average shares used in computing net income (loss) per share attributable to common stockholders:      
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in shares) 640,030 596,264 420,473
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in shares) 691,651 596,264 420,473
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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Statement of Comprehensive Income [Abstract]      
Net income (loss) $ 316,438 $ (128,323) $ (1,361,371)
Other comprehensive income (loss), net of taxes:      
Change in unrealized gain (loss) on available-for-sale marketable securities (4,252) 1,670 2,057
Change in foreign currency translation adjustment (409) 163 11
Comprehensive income (loss) $ 311,777 $ (126,490) $ (1,359,303)
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CONSOLIDATED STATEMENTS OF REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY (DEFICIT) - USD ($)
shares in Thousands, $ in Thousands
Total
Common Stock
Additional Paid-In Capital
Accumulated Other Comprehensive Income (Loss)
Accumulated Deficit
Balance (in shares) at Dec. 31, 2018 308,373        
Balance at Dec. 31, 2018 $ 1,465,399        
Increase (Decrease) in Temporary Equity [Roll Forward]          
Conversion of redeemable convertible preferred stock and redeemable convertible preferred stock warrants to common stock in connection with initial public offering (in shares) (308,373)        
Conversion of redeemable convertible preferred stock and redeemable convertible preferred stock warrants to common stock in connection with initial public offering $ (1,465,399)        
Balance (in shares) at Dec. 31, 2019 0        
Balance at Dec. 31, 2019 $ 0        
Beginning balance (in shares) at Dec. 31, 2018   127,298      
Beginning balance at Dec. 31, 2018 (594,563) $ 1 $ 252,212 $ (1,421) $ (845,355)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Release of restricted stock units (in shares)   28,084      
Release of restricted stock units 1 $ 1      
Shares repurchased for tax withholdings on release of restricted stock units (475,015)   (475,015)    
Conversion of redeemable convertible preferred stock and redeemable convertible preferred stock warrants to common stock in connection with initial public offering (in shares)   308,622      
Conversion of redeemable convertible preferred stock and redeemable convertible preferred stock warrants to common stock in connection with initial public offering 1,470,077 $ 3 1,470,074    
Issuance of common stock in connection with initial public offering net of underwriters' discounts and commissions and offering costs (in shares)   86,250      
Issuance of common stock in connection with initial public offering net of underwriters' discounts and commissions and offering costs 1,563,383 $ 1 1,563,382    
Issuance of common stock for cash upon exercise of stock options, net (in shares)   19,650      
Issuance of common stock for cash upon exercise of stock options, net 41,344   41,344    
Share-based compensation 1,377,781   1,377,781    
Other comprehensive income (loss) 2,068     2,068  
Net income (loss) (1,361,371)       (1,361,371)
Ending balance (in shares) at Dec. 31, 2019   569,904      
Ending balance at Dec. 31, 2019 $ 2,023,705 $ 6 4,229,778 647 (2,206,726)
Balance (in shares) at Dec. 31, 2020 0        
Balance at Dec. 31, 2020 $ 0        
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Release of restricted stock units (in shares)   19,890      
Shares repurchased for tax withholdings on release of restricted stock units (56,894)   (56,894)    
Issuance of common stock for cash upon exercise of stock options, net (in shares)   34,149      
Issuance of common stock for cash upon exercise of stock options, net 78,282   78,282    
Issuance of common stock related to charitable contributions (in shares)   150      
Issuance of common stock related to charitable contributions 2,748   2,748    
Issuance of restricted stock awards, net (in shares)   2,279      
Share-based compensation 321,020   321,020    
Other comprehensive income (loss) 1,833     1,833  
Net income (loss) (128,323)       (128,323)
Ending balance (in shares) at Dec. 31, 2020   626,372      
Ending balance at Dec. 31, 2020 $ 2,242,371 $ 6 4,574,934 2,480 (2,335,049)
Balance (in shares) at Dec. 31, 2021 0        
Balance at Dec. 31, 2021 $ 0        
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Release of restricted stock units (in shares)   21,724      
Release of restricted stock units $ 1 $ 1      
Issuance of common stock for cash upon exercise of stock options, net (in shares) 7,806 7,806      
Issuance of common stock for cash upon exercise of stock options, net $ 23,912   23,912    
Issuance of common stock related to charitable contributions (in shares)   750      
Issuance of common stock related to charitable contributions 45,300   45,300    
Issuance of restricted stock awards, net (in shares)   220      
Share-based compensation 415,382   415,382    
Other comprehensive income (loss) (4,661)     (4,661)  
Net income (loss) 316,438       316,438
Ending balance (in shares) at Dec. 31, 2021   656,872      
Ending balance at Dec. 31, 2021 $ 3,038,743 $ 7 $ 5,059,528 $ (2,181) $ (2,018,611)
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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities      
Net income (loss) $ 316,438 $ (128,323) $ (1,361,371)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 27,500 36,988 27,791
Share-based compensation 415,382 321,020 1,377,781
Non-cash charitable contributions 45,300 2,748 0
Other 9,607 8,332 (3,990)
Changes in assets and liabilities:      
Accounts receivable (88,862) (253,173) (94,224)
Prepaid expenses and other assets (14,727) 4,128 7,161
Operating lease right-of-use assets 43,995 41,898 32,378
Accounts payable (33,451) 15,721 11,636
Accrued expenses and other liabilities 82,435 23,647 31,890
Operating lease liabilities (50,710) (44,160) (28,395)
Net cash provided by operating activities 752,907 28,826 657
Investing activities      
Purchases of property and equipment and intangible assets (9,031) (17,401) (33,783)
Purchases of marketable securities (1,104,087) (1,216,260) (1,075,875)
Sales of marketable securities 274,654 265,422 162,198
Maturities of marketable securities 849,520 920,300 360,959
Acquisition of business, net of cash acquired (36,914) 0 0
Other investing activities 0 316 0
Net cash used in investing activities (25,858) (47,623) (586,501)
Financing activities      
Proceeds from initial public offering, net of underwriters' discounts and commissions 0 0 1,573,200
Proceeds from exercise of stock options, net 23,912 78,282 41,344
Shares repurchased for tax withholdings on release of restricted stock units 0 (56,894) (475,015)
Payment of deferred offering costs and other financing activities (1,750) (1,750) (11,331)
Net cash provided by financing activities 22,162 19,638 1,128,198
Effect of exchange rate changes on cash, cash equivalents and restricted cash (1,058) 327 99
Net increase in cash, cash equivalents and restricted cash 748,153 1,168 542,453
Cash, cash equivalents and restricted cash, beginning of period 678,911 677,743 135,290
Cash, cash equivalents and restricted cash, end of period 1,427,064 678,911 677,743
Supplemental cash flow information      
Accrued property and equipment 2,875 820 4,772
Operating lease right-of-use assets obtained in exchange for operating lease liabilities $ 118,977 $ 15,089 $ 76,387
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CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Reconciliation of cash, cash equivalents and restricted cash to consolidated balance sheets      
Cash and cash equivalents $ 1,419,630 $ 669,230 $ 649,666
Restricted cash included in prepaid expenses and other current assets 1,137 571 2,738
Restricted cash included in other assets 6,297 9,110 25,339
Total cash, cash equivalents and restricted cash $ 1,427,064 $ 678,911 $ 677,743
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Description of Business and Summary of Significant Accounting Policies
 12 Months Ended
Dec. 31, 2021
Accounting Policies [Abstract]  
Description of Business and Summary of Significant Accounting Policies Description of Business and Summary of Significant Accounting Policies
Description of Business
Pinterest was incorporated in Delaware in 2008 and is headquartered in San Francisco, California. Pinterest is a visual discovery engine that people around the globe use to find the inspiration to create a life they love. We generate revenue by delivering ads on our website and mobile application.
Basis of Presentation and Consolidation
We prepared the accompanying consolidated financial statements in accordance with generally accepted accounting principles in the United States ("GAAP"). The consolidated financial statements include the accounts of Pinterest, Inc. and its wholly owned subsidiaries. We have eliminated all intercompany balances and transactions.
Reclassifications
We have reclassified certain amounts in prior periods to conform with current presentation.
Use of Estimates
Preparing our consolidated financial statements in conformity with GAAP requires us to make estimates and judgments that affect amounts reported in the consolidated financial statements and accompanying notes. We base these estimates and judgments on historical experience and various other assumptions that we consider reasonable. GAAP requires us to make estimates and assumptions in several areas, including the fair values of financial instruments, assets acquired and liabilities assumed through business combinations, common stock prior to our IPO, share-based awards, and contingencies as well as the collectability of our accounts receivable, the useful lives of our intangible assets and property and equipment, the incremental borrowing rate we use to determine our operating lease liabilities, and revenue recognition, among others. Actual results could differ materially from these estimates and judgments.
Segments
We operate as a single operating segment. Our chief operating decision maker is our Chief Executive Officer ("CEO"), who reviews financial information presented on a consolidated basis, accompanied by disaggregated information about our revenue, for purposes of making operating decisions, assessing financial performance and allocating resources.
Revenue Recognition
We generate revenue by delivering ads on our website and mobile application. We recognize revenue only after transferring control of promised goods or services to customers, which occurs when a user clicks on an ad contracted on a cost per click (“CPC”) basis, views an ad contracted on a cost per thousand impressions (“CPM”) basis or views a video ad contracted on a cost per view ("CPV") basis. We typically bill customers on a CPC, CPM or CPV basis, and our payment terms vary by customer type and location. The term between billing and payment due dates is not significant.
We occasionally offer customers free ad inventory, and revenue is recognized only after satisfying our contractual performance obligations. When contracts with our customers contain multiple performance obligations, we allocate the overall transaction price, which is the amount of consideration to which we expect to be entitled in exchange for promised goods or services, to each of the distinct performance obligations based on their relative standalone selling prices. We generally determine standalone selling prices based on the effective price charged per contracted click, impression or view, and we do not disclose the value of unsatisfied performance obligations because the original expected duration of our contracts is generally less than one year.
We record sales commissions in sales and marketing as incurred because we would amortize these over a period of less than one year.
Deferred revenue was not material as of December 31, 2021 and 2020.
Cost of Revenue
Cost of revenue consists primarily of expenses associated with the delivery of our service, including the cost of hosting our website and mobile application. Cost of revenue also includes personnel-related expense, including salaries, benefits and share-based compensation, for employees on our operations teams, payments associated with partner arrangements, credit card and other transaction processing fees, and allocated facilities and other supporting overhead costs.
Share-Based Compensation
Restricted stock units ("RSUs") granted under our 2009 Stock Plan (the "2009 Plan") are subject to both a service condition, which is typically satisfied over four years, and a performance condition, which was deemed satisfied upon the pricing of our initial public offering ("IPO"). We did not record any share-based compensation expense for our RSUs prior to our IPO because the performance condition had not yet been satisfied. Upon pricing our IPO, we recorded cumulative share-based compensation expense using the accelerated attribution method for those RSUs granted under our 2009 Plan for which the service condition had been satisfied at that date. We will record the remaining unrecognized share-based compensation expense over the remainder of the requisite service period.
RSUs and restricted stock awards ("RSAs") granted under our 2019 Omnibus Incentive Plan (the "2019 Plan") are subject only to a service condition, which is typically satisfied over four years. We record share-based compensation expense for these RSUs and RSAs on a straight-line basis over the requisite service period.
We measure RSUs and RSAs based on the fair market value of our common stock on the grant date, and we account for forfeitures as they occur.
Income Taxes
We account for income taxes using the asset and liability method. We recognize deferred tax assets and liabilities for temporary differences between the financial reporting and tax bases of assets and liabilities using the enacted statutory tax rates in effect for the years in which we expect the differences to reverse. We establish valuation allowances to reduce deferred tax assets to the amounts we believe it is more likely than not we will be able to realize. We recognize tax benefits from uncertain tax positions when we believe it is more likely than not that the tax position is sustainable on examination by tax authorities based on its technical merits. We recognize taxes on Global Intangible Low-Taxed Income ("GILTI") as a current period expense when incurred.
Advertising Expenses
We record advertising expenses as incurred and include these in sales and marketing in the consolidated statements of operations. Advertising expenses were $94.7 million, $30.3 million and $55.0 million for the years ended December 31, 2021, 2020 and 2019, respectively.
Marketable Securities
We invest in highly liquid corporate debt securities, U.S. treasury securities, asset-backed securities, U.S. government agency securities, municipal securities, non-U.S. government and supranational bonds and certificates of deposit. We classify marketable investments with stated maturities of ninety days or less from the date of purchase as cash equivalents and those with stated maturities greater than ninety days from the date of purchase as marketable securities.
We classify our marketable securities as available-for-sale investments in our current assets because they are available for use to support current operations. We carry our marketable investments at fair value and record unrealized gains or losses, net of taxes, in accumulated other comprehensive income (loss) in stockholders’ equity (deficit). We determine realized gains and losses on the sale of marketable investments using a specific identification method and record these and any expected credit losses in interest expense and other income (expense), net.
Restricted Cash
Our restricted cash primarily consists of certificates of deposit underlying secured letters of credit issued in connection with our operating leases. Restrictions typically lapse at the end of the lease term, and we classify restricted cash as current or non-current based on the remaining term of the restriction.
Fair Value Measurements
We account for certain assets and liabilities at fair value, which is the amount we believe market participants would receive to sell an asset or pay to transfer a liability in an orderly transaction. We categorize these assets and liabilities into the three levels below based on the degree to which the inputs we use to measure their fair values are observable in active markets. We use the most observable inputs available to us when measuring fair value.
•Level 1: Observable inputs such as quoted prices for identical assets or liabilities in active markets
•Level 2: Observable inputs such as quoted prices for similar assets or liabilities in active markets, quoted prices for identical assets or liabilities in inactive markets, or inputs that are derived principally from or corroborated by observable market data or other means
•Level 3: Unobservable inputs that are supported by little or no market activity and are significant to the fair value of the assets or liabilities
Accounts Receivable, Net of Allowances
We record accounts receivable at the original invoiced amount. We maintain an allowance for credit losses for any receivables we may be unable to collect. We estimate uncollectible receivables based on our receivables’ age, our customers’ credit quality and current economic conditions, among other factors that may affect our customers’ ability to pay. We also maintain an allowance for sales credits, which we determine based on historical credits issued to customers. We include the allowances for credit losses and sales credits in accounts receivable, net in the consolidated balance sheets.
Property and Equipment
We carry property and equipment at cost less accumulated depreciation and calculate depreciation using the straight-line method over our assets’ estimated useful lives, which are generally:
Property and EquipmentUseful Life
Computer and network equipment3 years
Furniture and fixtures4 years
Leasehold improvementsLesser of estimated useful life or remaining lease term
Leases and Operating Lease Incremental Borrowing Rate
We lease office space under operating leases with expiration dates through 2033. We determine whether an arrangement constitutes a lease at inception and record lease liabilities and right-of-use assets on our consolidated balance sheets at lease commencement. We measure lease liabilities based on the present value of the total lease payments not yet paid discounted based on the more readily determinable of the rate implicit in the lease or our incremental borrowing rate, which is the estimated rate we would be required to pay for a collateralized borrowing equal to the total lease payments over the term of the lease. We estimate our incremental borrowing rate based on an analysis of publicly traded debt securities of companies with credit and financial profiles similar to our own. We measure right-of-use assets based on the corresponding lease liability adjusted for (i) payments made to the lessor at or before the commencement date, (ii) initial direct costs we incur and (iii) tenant incentives under the lease. We begin recognizing rent expense when the lessor makes the underlying asset available to us, we do not assume renewals or early terminations unless we are reasonably certain to exercise these options at commencement, and we do not allocate consideration between lease and non-lease components.
For short-term leases, we record rent expense in our consolidated statements of operations on a straight-line basis over the lease term and record variable lease payments as incurred.
Business Combinations
We include the results of operations of businesses that we acquire in our consolidated financial statements beginning on their respective acquisition dates. We allocate the fair value of the purchase consideration to the assets acquired and liabilities assumed based on their estimated fair values. When the fair value of the purchase consideration exceeds the fair values of the identifiable assets and liabilities acquired, we record the excess as goodwill. Our estimates of fair value are based on assumptions we believe to be reasonable but which are inherently uncertain and unpredictable, and as a result, actual results may differ from estimates. During the measurement period, which is one year from the acquisition date, we may record adjustments to the assets and liabilities acquired with the corresponding offset to goodwill. Any adjustments after the measurement period are reflected in our consolidated statements of operations.
Long-Lived Assets, Including Goodwill and Intangible Assets
We record definite-lived intangible assets at fair value less accumulated amortization. We calculate amortization using the straight-line method over the assets’ estimated useful lives of up to ten years.
We review our property and equipment and intangible assets for impairment whenever events or circumstances indicate that an asset’s carrying value may not be recoverable. We measure recoverability by comparing an asset’s carrying value to the future undiscounted cash flows that we expect it to generate. If this test indicates that the asset’s carrying value is not recoverable, we record an impairment charge to reduce the asset’s carrying value to its fair value. We did not record material property and equipment or intangible asset impairments during the periods presented.
We review goodwill for impairment at least annually or more frequently if current circumstances or events indicate that the fair value of our single reporting unit may be less than its carrying value. We did not record any goodwill impairment during the periods presented.
Website Development Costs
We capitalize costs to develop our website and mobile application when preliminary development efforts are successfully completed, management has authorized and committed project funding, and it is probable that the project will be completed and the software will be used as intended. Due to the iterative process by which we perform upgrades and the relatively short duration of our development projects, development costs meeting our capitalization criteria were not material during the periods presented.
Loss Contingencies
We are involved in various lawsuits, claims and proceedings that arise in the ordinary course of business. We record a liability for these when we believe it is probable that we have incurred a loss and can reasonably estimate the loss. We regularly evaluate current information to determine whether we should adjust a recorded liability or record a new one.
Foreign Currency
The functional currency of our international subsidiaries is generally their local currency. We translate these subsidiaries’ financial statements into U.S. dollars using month-end exchange rates for assets and liabilities and average exchange rates for revenue and costs and expenses. We record translation gains and losses in accumulated other comprehensive income (loss) in stockholders’ equity (deficit). We record foreign exchange gains and losses in interest expense and other income (expense), net. Our net foreign exchange gains and losses were not material for the periods presented.
Concentration of Business Risk
We have an agreement with Amazon Web Services (“AWS”) to provide the cloud computing infrastructure we use to host our website, mobile application and many of the internal tools we use to operate our business. We are currently required to maintain a substantial majority of our monthly usage of certain compute, storage, data transfer and other services on AWS. Any transition of the cloud services currently provided by AWS to another cloud services provider would be difficult to implement and would cause us to incur significant time and expense.
Concentration of Credit Risk
Financial instruments that may potentially expose us to concentrations of credit risk primarily consist of cash, cash equivalents, marketable securities and restricted cash. Our investment policy is meant to preserve capital and maintain liquidity. The policy limits our marketable investments to investment-grade securities and limits our credit exposure by limiting our concentration in any one corporate issuer or sector and by establishing a minimum credit rating for marketable investments we purchase. Although we deposit cash and marketable investments with multiple financial institutions, our deposits may exceed insurable limits.
No customer accounted for more than 10% of our revenue for the years ended December 31, 2021 and December 31, 2020. One customer accounted for 10% of our revenue for the year ended December 31, 2019.
Our accounts receivable are generally unsecured. We monitor our customers’ credit quality on an ongoing basis and maintain reserves for estimated credit losses. Bad debt expense was not material for the years ended December 31, 2021, 2020 and 2019.
Recently Adopted Accounting Pronouncements
In October 2021, the Financial Accounting Standards Board issued ASU No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires an entity to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606, Revenue from Contracts with Customers. We elected to early adopt ASU 2021-08 prospectively as of October 1, 2021, and the effects of adoption on our consolidated financial statements were not material.
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Cash, Cash Equivalents and Marketable Securities
 12 Months Ended
Dec. 31, 2021
Cash and Cash Equivalents [Abstract]  
Cash, Cash Equivalents, and Marketable Securities Cash, Cash Equivalents and Marketable Securities
Cash, cash equivalents and marketable securities consist of the following (in thousands):
December 31, 2021
Amortized CostUnrealized GainsUnrealized LossesFair Value
Cash and cash equivalents:
Cash$589,156 $— $— $589,156 
Money market funds711,188 — — 711,188 
Commercial paper114,972 4 — 114,976 
Corporate bonds4,310 — — 4,310 
Total cash and cash equivalents1,419,626 4 — 1,419,630 
Marketable securities:
Corporate bonds450,746 181 (1,510)449,417 
Commercial paper247,623 15 (78)247,560 
U.S. treasury securities189,325 19 (334)189,010 
Certificates of deposit82,504 19 (37)82,486 
Municipal securities49,470 11 (150)49,331 
Non-U.S. government and supranational bonds41,812 3 (131)41,684 
U.S. agency bonds1,000 — — 1,000 
Total marketable securities1,062,480 248 (2,240)1,060,488 
Total $2,482,106 $252 $(2,240)$2,480,118 
December 31, 2020
Amortized CostUnrealized GainsUnrealized LossesFair Value
Cash and cash equivalents:
Cash$352,061 $— $— $352,061 
Money market funds225,643 — — 225,643 
Commercial paper48,530 2 — 48,532 
U.S. treasury securities39,997 1 — 39,998 
Certificates of deposit2,996 — — 2,996 
Total cash and cash equivalents669,227 3 — 669,230 
Marketable securities:
Corporate bonds452,723 1,782 (18)454,487 
U.S. treasury securities202,795 260 (1)203,054 
Commercial paper234,170 86 (3)234,253 
Certificates of deposit134,828 57 (3)134,882 
Municipal securities17,604 22 (7)17,619 
U.S. agency bonds16,012 6 — 16,018 
Non-U.S. government and supranational bonds15,938 13 (1)15,950 
Asset-backed securities14,752 61 — 14,813 
Total marketable securities 1,088,822 2,287 (33)1,091,076 
Total $1,758,049 $2,290 $(33)$1,760,306 
Our allowance for credit losses for our marketable securities was not material as of December 31, 2021 and 2020.
The fair value of our marketable securities by contractual maturity is as follows (in thousands):
December 31, 2021
Due in one year or less $716,132 
Due after one to five years 344,356 
Total $1,060,488 
Net realized gains and losses from sales of available-for-sale securities were not material for any period presented.
v3.22.0.1
Fair Value of Financial Instruments
 12 Months Ended
Dec. 31, 2021
Fair Value Disclosures [Abstract]  
Fair Value of Financial Instruments Fair Value of Financial Instruments
The fair values of the financial instruments we measure at fair value on a recurring basis are as follows (in thousands):
December 31, 2021
Level 1Level 2Level 3Total
Cash equivalents:
Money market funds $711,188 $— $— $711,188 
Commercial paper — 114,976 — 114,976 
Corporate bonds— 4,310 — 4,310 
Marketable securities:
Corporate bonds — 449,417 — 449,417 
Commercial paper — 247,560 — 247,560 
U.S. treasury securities 189,010 — — 189,010 
Certificates of deposit — 82,486 — 82,486 
Municipal securities— 49,331 — 49,331 
Non-U.S. government and supranational bonds— 41,684 — 41,684 
U.S. agency bonds — 1,000 — 1,000 
Prepaid expenses and other current assets:
Certificates of deposit — 1,137 — 1,137 
Restricted cash:
Certificates of deposit $— $6,297 $— $6,297 
December 31, 2020
Level 1Level 2Level 3Total
Cash equivalents:
Money market funds $225,643 $— $— $225,643 
Commercial paper— 48,532 — 48,532 
U.S. treasury securities39,998 — — 39,998 
Certificates of deposit— 2,996 — 2,996 
Marketable securities:
Corporate bonds — 454,487 — 454,487 
Commercial paper— 234,253 — 234,253 
U.S. treasury securities 203,054 — — 203,054 
Certificates of deposit— 134,882 — 134,882 
Municipal securities— 17,619 — 17,619 
U.S. agency bonds— 16,018 — 16,018 
Non-U.S. government and supranational bonds— 15,950 — 15,950 
Asset-backed securities— 14,813 — 14,813 
Prepaid expenses and other current assets:
Certificates of deposit — 571 — 571 
Restricted cash:
Certificates of deposit $— $9,110 $— $9,110 
We classify our marketable securities within Level 1 or Level 2 because we determine their fair values using quoted market prices or alternative pricing sources and models utilizing market observable inputs.
v3.22.0.1
Other Balance Sheet Components
 12 Months Ended
Dec. 31, 2021
Other Balance Sheet Components [Abstract]  
Other Balance Sheet Components Other Balance Sheet Components
Property and Equipment, Net
Property and equipment, net consists of the following (in thousands):
December 31,
20212020
Leasehold improvements$101,214 $101,242 
Furniture and fixtures 25,956 24,516 
Computer and network equipment32,020 27,230 
Total property and equipment 159,190 152,988 
Less: accumulated depreciation (108,159)(83,770)
Construction in progress 2,370 157 
Property and equipment, net $53,401 $69,375 
Depreciation expense was $26.2 million, $36.0 million and $26.3 million for the years ended December 31, 2021, 2020 and 2019, respectively.
Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consists of the following (in thousands):
December 31,
20212020
Accrued hosting expenses$84,105 $39,233 
Accrued compensation37,154 33,215 
Operating lease liabilities41,693 43,633 
Other accrued expenses79,179 39,259 
Accrued expenses and other current liabilities $242,131 $155,340 
v3.22.0.1
Acquisition
 12 Months Ended
Dec. 31, 2021
Business Combination and Asset Acquisition [Abstract]  
Acquisition Acquisition
On December 3, 2021, we acquired all outstanding shares of BLBW Limited ("Vochi"), a video creation and editing app that offers tools for creators. The acquisition of Vochi is expected to bring more video creation tools and quality content to our Pinners and help us further our vision to create a place where Pinners can go from inspiration to realization.
The total purchase consideration was $45.9 million in cash, including an indemnification holdback of $8.6 million. Of the total purchase consideration, $14.8 million was attributed to developed technology and other related intangible assets, which will be amortized over their useful lives of 5 years, and the remaining $33.3 million was attributed to goodwill. Goodwill represents the synergies we expect to realize from the acquisition and the assembled workforce. Goodwill is not deductible for tax purposes.
We included the results of Vochi's operations in our consolidated financial statements beginning on the acquisition date. The acquisition did not have a material impact on our consolidated financial statements so we have not presented historical and pro forma disclosures.
v3.22.0.1
Goodwill and Intangible Assets, Net
 12 Months Ended
Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets, Net Goodwill and Intangible Assets, Net
Changes in goodwill for the periods presented are as follows (in thousands):
Balance as of December 31, 2020$6,905 
Acquisitions33,303 
Balance as of December 31, 2021$40,208 
Intangible assets, net consists of the following (in thousands):
December 31, 2021
Gross Carrying AmountAccumulated AmortizationNet Carrying Amount
Weighted-Average Useful Life (1)
Acquired patents $9,037 $(3,389)$5,648 9.1 years
Acquired technology and other intangibles 19,970 (4,711)15,259 4.2 years
Total intangible assets, net $29,007 $(8,100)$20,907 
December 31, 2020
Gross Carrying AmountAccumulated AmortizationNet Carrying Amount
Weighted-Average Useful Life (1)
Acquired patents$9,037 $(2,380)$6,657 9.1 years
Acquired technology and other intangibles4,385 (4,385)— 1.5 years
Total intangible assets, net $13,422 $(6,765)$6,657 
(1)Based on the weighted-average useful life established as of acquisition date.
Amortization expense was $1.3 million, $1.0 million and $1.5 million for the years ended December 31, 2021, 2020 and 2019, respectively. Estimated future amortization expense as of December 31, 2021, is as follows (in thousands):
Intangible Asset Amortization
2022$4,126 
20234,126 
20244,126 
20254,116 
20263,424 
Thereafter 989 
Total $20,907 
v3.22.0.1
Commitments and Contingencies
 12 Months Ended
Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
As of December 31, 2021, our non-cancelable contractual commitments are as follows (in thousands):
Purchase CommitmentsOperating LeasesTotal Commitments
2022$— $57,877 $57,877 
2023— 56,601 56,601 
2024— 34,520 34,520 
2025— 29,736 29,736 
2026— 30,382 30,382 
Thereafter 2,949,100 114,511 3,063,611 
Total $2,949,100 $323,626 $3,272,727 
Purchase Commitments
In April 2021, we entered into a new private pricing addendum with AWS, which governs our use of cloud computing infrastructure provided by AWS. Under the new pricing addendum, we are required to purchase at least $3,250.0 million of cloud services from AWS through April 2029. If we fail to do so, we are required to pay the difference between the amount we spend and the required commitment amount. As of December 31, 2021, our remaining contractual commitment is $2,949.1 million. We expect to meet our remaining commitment.
Legal Matters
We are involved in various lawsuits, claims and proceedings that arise in the ordinary course of business, including those described below. While the results of legal matters are inherently uncertain, we do not believe there is a reasonable possibility that the ultimate resolution of these matters, either individually or in aggregate, will have a material adverse effect on our business, financial position, results of operations or cash flows.
On November 23, 2020, Pinterest and our Chief Executive Officer and Chief Financial Officer were named as defendants in a putative securities class action filed in the U.S. District Court for the Northern District of California. The lawsuit alleged claims under Sections 10(b) and 20(a) of the Exchange Act and alleged that defendants made material false and misleading public statements about our revenue and user growth in 2019. The complaint sought damages, litigation costs, and interest. On September 23, 2021, the court granted Pinterest’s motion to dismiss plaintiff’s complaint with leave to amend and plaintiff notified the court on October 12, 2021 that they do not intend to file an amended complaint. The court entered judgment on behalf of Pinterest and other defendants on October 12, 2021 and this matter is no longer pending.
In November and December 2020, certain of our executives and members of our board of directors were named as defendants in shareholder derivative lawsuits filed in the U.S. District Court for the Northern District of California. Pinterest was also named as a nominal defendant. The lawsuits purport to assert claims for breach of fiduciary duty in connection with allegations of gender and racial discrimination at Pinterest. In addition, the lawsuits purport to assert claims for waste, abuse of control, aiding and abetting breaches of fiduciary duties, unjust enrichment, and violations of Section 14(a) of the Exchange Act. The complaints seek declaratory and injunctive relief, corporate governance changes, monetary damages, interest, disgorgement, and fees and costs. On April 22, 2021, the defendants moved to dismiss this complaint. On July 14, 2021, another shareholder derivative complaint with similar allegations was filed in the same court and was subsequently related to the earlier action. The cases were referred to a magistrate judge for mediation, and the proceedings were stayed during the pendency of that mediation. On November 24, 2021, the parties entered into a stipulation of settlement and plaintiffs filed a motion for preliminary settlement approval. We continue to evaluate these claims but do not believe this litigation will have a material impact on our financial position or results of operations.
In March 2021, certain of our executives and members of our board of directors were named as defendants in a shareholder derivative lawsuit filed in the Delaware Chancery Court. Pinterest was also named as a nominal defendant. The complaint alleges that executives and members of the board breached their fiduciary duties to the company in connection with allegations of gender and racial discrimination at Pinterest. On May 10, 2021, the court stayed this lawsuit in light of the related pending case in the Northern District of California. The complaint seeks damages, litigation costs, and interest. We continue to evaluate these claims but do not believe this litigation will have a material impact on our financial position or results of operations.
Revolving Credit Facility
In November 2018, we entered into a five-year $500.0 million revolving credit facility with an accordion option which, if exercised, would allow us to increase the aggregate commitments by the greater of $100.0 million and 10% of our consolidated total assets, provided we are able to secure additional lender commitments and satisfy certain other conditions. Interest on any borrowings under the revolving credit facility accrues at either LIBOR plus 1.50% or at an alternative base rate plus 0.50%, at our election, and we are required to pay an annual commitment fee that accrues at 0.15% per annum on the unused portion of the aggregate commitments under the revolving credit facility.
The revolving credit facility also allows us to issue letters of credit, which reduce the amount we can borrow. We are required to pay a fee that accrues at 1.50% per annum on the average aggregate daily maximum amount available to be drawn under any outstanding letters of credit.
The revolving credit facility contains customary conditions to borrowing, events of default and covenants, including covenants that restrict our ability to incur indebtedness, grant liens, make distributions to holders of our stock or the stock of our subsidiaries, make investments or engage in transactions with our affiliates. The revolving credit facility also contains two financial maintenance covenants: a consolidated total assets covenant and a minimum liquidity balance of $350.0 million, which includes any available borrowing capacity. The obligations under the revolving credit facility are secured by liens on substantially all of our domestic assets, including certain domestic intellectual property assets.
Our total borrowing capacity under the revolving credit facility is $500.0 million as of December 31, 2021. We have not issued any letters of credit against the revolving credit facility and are in compliance with all covenants under the revolving credit facility as of December 31, 2021.
v3.22.0.1
Leases
 12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Leases Leases
We have entered into various non-cancelable office space operating leases with original lease periods expiring between 2022 and 2033. These do not contain material variable rent payments, residual value guarantees, covenants or other restrictions. Operating lease costs for the years ended December 31, 2021, 2020 and 2019, are as follows (in thousands):
Year Ended December 31,
202120202019
Lease cost:
Operating lease cost$53,691 $51,285 $40,257 
Short-term lease cost1,434 3,933 3,456 
Total$55,125 $55,218 $43,713 
The weighted-average remaining term of our operating leases was 7.5 years and 8.1 years, and the weighted-average discount rate used to measure the present value of our operating lease liabilities was 4.2% and 4.8% as of December 31, 2021 and 2020, respectively.
Maturities of our operating lease liabilities, which do not include short-term leases, as of December 31, 2021, are as follows (in thousands):
Operating Leases
2022$57,393 
202356,601 
202434,520 
202529,736 
202630,382 
Thereafter114,511 
Total lease payments323,143 
Less imputed interest(72,269)
Total operating lease liabilities$250,874 
Cash payments included in the measurement of our operating lease liabilities were $59.0 million, $54.3 million and $38.4 million for the years ended December 31, 2021, 2020 and 2019, respectively.
As of December 31, 2021, we have $20.8 million of undiscounted future payments under operating leases that have not yet commenced, which are excluded from the table above.
v3.22.0.1
Share-Based Compensation
 12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Share-Based Compensation Share-Based Compensation
Equity Incentive Plan
In June 2009, our board of directors adopted and approved our 2009 Plan, which provides for the issuance of stock options, RSAs and RSUs to qualified employees, directors and consultants. Stock options granted under our 2009 Plan have a maximum life of 10 years and an exercise price not less than 100% of the fair market value of our common stock on the date of grant. RSUs granted under our 2009 Plan have a maximum life of seven years. No shares of our common stock were reserved for future issuance under our 2009 Plan as of December 31, 2021.
Our 2019 Plan became effective upon closing of our IPO and succeeds our 2009 Plan. Our 2019 Plan provides for the issuance of stock options, RSAs, RSUs and other equity- or cash-based awards to qualified employees, directors and consultants. Stock options granted under our 2019 Plan have a maximum life of 10 years and an exercise price not
less than 100% of the fair market value of our common stock on the date of grant. 126,949,622 shares of our Class A common stock were reserved for future issuance under our 2019 Plan as of December 31, 2021.
The number of shares of our Class A common stock available for issuance under the 2019 Plan will be increased by the number of shares of our Class B common stock subject to awards outstanding under our 2009 Plan that would, but for the terms of the 2019 Plan, have returned to the share reserves of the 2009 Plan pursuant to the terms of such awards, including as the result of forfeiture, repurchase, expiration or retention by us in order to satisfy an award’s exercise price or tax withholding obligations. In addition, the number of shares of our Class A common stock reserved for issuance under our 2019 Plan will automatically increase on the first day of each fiscal year through and including January 1, 2029, in an amount equal to 5% of the total number of shares of our Class A common stock and our Class B common stock outstanding on the last day of the calendar month before the date of each automatic increase, or a lesser number of shares determined by our board of directors.
Stock Option Activity
Stock option activity during the year ended December 31, 2021, was as follows (in thousands, except per share amounts):
Stock Options Outstanding
SharesWeighted-Average Exercise PriceWeighted-Average Remaining Contractual Term
Aggregate Intrinsic
Value (1)
(in years)
Outstanding as of December 31, 202023,947$3.15 2.9$1,502,604 
Exercised (7,806)3.06 
Outstanding as of December 31, 202116,141$3.19 1.9$535,118 
Exercisable as of December 31, 202115,576$2.50 1.7$527,204 
(1)We calculate intrinsic value based on the difference between the exercise price of in-the-money-stock options and the fair value of our common stock as of the respective balance sheet date.
The total grant-date fair value of stock options vested during the years ended December 31, 2021, 2020 and 2019, was $3.2 million, $3.3 million and $2.2 million, respectively. The aggregate intrinsic value of stock options exercised during the years ended December 31, 2021, 2020 and 2019, was $511.4 million, $1,023.9 million and $425.1 million, respectively.
No stock options were granted during the years ended December 31, 2021 and December 31, 2019. The total grant-date fair value of stock options granted during the year ended December 31, 2020 was not material.
Restricted Stock Unit and Restricted Stock Award Activity
RSU and RSA activity during the year ended December 31, 2021, was as follows (in thousands, except per share amounts):
Restricted Stock Units and Restricted Stock Awards Outstanding
SharesWeighted Average Grant Date Fair Value
Outstanding as of December 31, 202054,079$20.45 
Granted(1)
9,93167.27 
Released(21,991)23.28 
Forfeited(1)
(5,761)25.02 
Outstanding as of December 31, 202136,258$30.84 
(1)Includes the effects of awards modified during the year ended December 31, 2021.
Share-Based Compensation
Share-based compensation expense during the years ended December 31, 2021, 2020 and 2019, was as follows (in thousands):
Year Ended December 31,
202120202019
Cost of revenue $7,438 $7,865 $31,758 
Research and development 309,715 218,718 867,191 
Sales and marketing 52,691 35,645 239,315 
General and administrative 45,538 58,792 239,517 
Total share-based compensation $415,382 $321,020 $1,377,781 
As of December 31, 2021, we had $851.2 million of unrecognized share-based compensation expense, which we expect to recognize over a weighted-average period of 2.7 years.
On October 15, 2021, our Co-founder and Chief Design and Creative Officer transitioned into a consulting role pursuant to a consulting agreement dated October 13, 2021. He will also continue to serve on our Board of Directors, and his existing RSU award will continue vesting after the transition to the consulting role. For accounting purposes, we treated this as a modification of his RSU award and recorded a one-time charge of $48.6 million, including incremental compensation cost of $40.8 million, in share-based compensation expense for the year ended December 31, 2021.
v3.22.0.1
Net Income (Loss) Per Share Attributable to Common Stockholders
 12 Months Ended
Dec. 31, 2021
Earnings Per Share [Abstract]  
Net Income (Loss) Per Share Attributable to Common Stockholders Net Income (Loss) Per Share Attributable to Common Stockholders
We present net income (loss) per share attributable to common stockholders using the two-class method required for multiple classes of common stock. Holders of our Class A and Class B common stock have identical rights except with respect to voting, conversion and transfer rights and therefore share equally in our net income or losses. Prior to our IPO, we considered all series of our redeemable convertible preferred stock participating securities. We have not allocated net loss attributable to common stockholders to our redeemable convertible preferred stock because the holders of our redeemable convertible preferred stock are not contractually obligated to share in our losses.
We calculate basic net income (loss) per share attributable to common stockholders by dividing net income (loss) attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period. 
Diluted net income (loss) per share gives effect to all potential shares of common stock, including common stock issuable upon conversion of our redeemable convertible preferred stock and redeemable convertible preferred stock warrants, stock options, RSAs and RSUs to the extent these are dilutive. The calculation of diluted net income (loss) of Class A common stock assumes the conversion of our Class B common stock to Class A common stock, while the diluted net income (loss) of Class B common stock does not assume the conversion of those shares to Class A common stock.
We calculated basic and diluted net income (loss) per share attributable to common stockholders as follows (in thousands, except per share amounts):
Year Ended December 31,
202120202019
Class AClass BClass AClass BClass AClass B
Basic net income (loss) per share attributable to common stockholders:
Numerator:
Net income (loss) attributable to common stockholders$274,699 $41,739 $(96,499)$(31,824)$(459,412)$(901,959)
Denominator:
Weighted-average shares used in computing net income (loss) per share attributable to common stockholders, basic555,608 84,422 448,392 147,872 141,894 278,579 
Basic net income (loss) per share attributable to common stockholders$0.49 $0.49 $(0.22)$(0.22)$(3.24)$(3.24)
Diluted net income (loss) per share attributable to common stockholders:
Numerator:
Net income (loss) attributable to common stockholders$274,699 $41,739 $(96,499)$(31,824)$(459,412)$(901,959)
Reallocation of net income as a result of conversion of Class B to Class A common stock 41,739 — — — — — 
Reallocation of net income to Class B common stock — (3,115)— — — — 
Diluted net income (loss) attributable to common stockholders$316,438 $38,624 $(96,499)$(31,824)$(459,412)$(901,959)
Denominator:
Weighted-average shares used in computing net income (loss) per share555,608 84,422 448,392 147,872 141,894 278,579 
Conversion of Class B to Class A common stock84,422 — — — — — 
Weighted average effect of dilutive potential common stock 51,621 — — — — — 
Weighted-average shares used in computing net income (loss) per share attributable to common stockholders, diluted691,651 84,422 448,392 147,872 141,894 278,579 
Diluted net income (loss) per share attributable to common stockholders$0.46 $0.46 $(0.22)$(0.22)$(3.24)$(3.24)
Basic net loss per share is the same as diluted net loss per share for the periods we reported net losses. We excluded the following weighted-average potential shares of common stock from our calculation of diluted net income (loss) per share attributable to common stockholders because these would be anti-dilutive (in thousands):
Year Ended December 31,
202120202019
Redeemable convertible preferred stock— — 95,469 
Outstanding stock options— 40,067 72,999 
Unvested restricted stock units and restricted stock awards3,271 63,603 69,800 
Redeemable convertible preferred stock warrants— — 77 
Total3,271 103,670 238,345 
v3.22.0.1
Income Taxes
 12 Months Ended
Dec. 31, 2021
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The components of income (loss) before provision for income taxes are as follows (in thousands):
Year Ended December 31,
202120202019
United States $331,447 $49,973 $(1,266,677)
Foreign (10,476)(176,993)(94,162)
Income (loss) before provision for income taxes $320,971 $(127,020)$(1,360,839)
Provision for income taxes consists of the following (in thousands):
Year Ended December 31,
202120202019
Current:
Federal $— $— $— 
State 2,303 79 — 
Foreign 2,957 691 1,677 
Total current tax expense 5,260 770 1,677 
Deferred:
Federal 6 654 (555)
State 6 5 (76)
Foreign (739)(126)(514)
Total deferred tax expense (benefit)(727)533 (1,145)
Provision for income taxes $4,533 $1,303 $532 
The difference between income taxes computed at the statutory federal income tax rate and the provision for income taxes is attributable to the following (in thousands):
Year Ended December 31,
202120202019
Tax at U.S. statutory rate $67,404 $(26,674)$(285,776)
State income taxes, net of benefit 2,307 84 (77)
Foreign losses not benefited 4,448 37,716 20,932 
Permanent book/tax differences 954 1,051 2,453 
Legal settlement— 2,290 — 
Share-based compensation (269,009)(303,245)(84,366)
Change in valuation allowance 278,761 352,410 422,315 
Tax credits (79,787)(63,205)(74,399)
Other (545)876 (550)
Provision for income taxes $4,533 $1,303 $532 
The primary difference between our effective tax rate and the federal statutory rate is the full valuation allowance we have established on our federal, state and foreign net operating losses and credits.
Significant components of our deferred tax assets and liabilities are as follows (in thousands):
December 31,
20212020
Deferred tax assets:
Net operating loss carryforwards $1,036,254 $784,721 
Research tax credits 401,219 269,658 
Reserves, accruals, and other 29,641 18,106 
Lease obligation 58,860 44,446 
Share-based compensation 63,798 96,932 
Total deferred tax assets 1,589,772 1,213,863 
Less: valuation allowance (1,539,889)(1,176,910)
Deferred tax assets, net of valuation allowance 49,883 36,953 
Deferred tax liabilities:
Depreciation and amortization (47,952)(34,576)
Prepaid expenses (2,036)(1,523)
Total deferred tax liabilities (49,988)(36,099)
Deferred tax assets (liabilities)$(105)$854 
Due to our history of losses we believe it is more likely than not that our U.S. and Irish deferred tax assets will not be realized as of December 31, 2021. Accordingly, we have established a full valuation allowance on our U.S. and Irish deferred tax assets. Our valuation allowance increased by $363.0 million and $439.9 million during the years ended December 31, 2021 and 2020, respectively, primarily due to U.S. federal and state tax losses and credits incurred during the period.
As of December 31, 2021, we had federal, California and other state net operating loss carryforwards of $4,314.0 million, $500.8 million and $1,677.0 million, respectively. If not utilized, these will begin to expire in 2028, 2028 and 2026, respectively. Utilization of our net operating loss carryforwards may be subject to annual limitations due to the ownership change limitations provided by Section 382 of the Internal Revenue Code and similar state provisions. Our net operating loss carryforwards could expire before utilization if subject to annual limitations. As of December 31, 2021, we had $51.9 million and $2.0 million of Irish and Other Foreign net operating loss carryforwards, respectively that can be carried forward indefinitely.
As of December 31, 2021, we had federal and California research and development credit carryforwards of $355.6 million and $275.4 million, respectively. If not utilized, our federal carryforwards will begin to expire in 2030. Our California carryforwards do not expire.
Changes in gross unrecognized tax benefits were as follows (in thousands):
Gross Unrecognized Tax Benefits
Balance as of December 31, 2019$129,185 
Increases for tax positions of prior years 886 
Decreases for tax positions of prior years(37,250)
Increases for tax positions of current year 47,339 
Balance as of December 31, 2020$140,160 
Increases for tax positions of prior years 2,906 
Increases for tax positions of current year 61,993 
Balance as of December 31, 2021$205,059 
Recognizing the $205.1 million of gross unrecognized tax benefits we had as of December 31, 2021 would affect our effective tax rate by $2.6 million. The remaining $202.5 million of gross unrecognized tax benefits would be offset by
the reversal of related deferred tax assets, which are subject to a full valuation allowance. We do not expect our gross unrecognized tax benefits to change significantly within the next 12 months. We recognize interest and penalties related to uncertain tax positions in provision for income taxes. Accrued interest and penalties are not material as of December 31, 2021 and 2020.
We are subject to taxation in the U.S. and various other state and foreign jurisdictions. As we have net operating loss carryforwards for U.S. federal and state jurisdictions, the statute of limitations is open for all tax years. For material foreign jurisdictions, the tax years open to examination include the years 2016 and forward. We are currently under examination of our U.S. consolidated federal income tax return by the Internal Revenue Service for calendar years 2018 and 2019. We believe that we have adequately reserved for any adjustments to the provision for income taxes or other tax items that may ultimately result from these examinations.
We have not recognized deferred taxes for the difference between the financial reporting basis and the tax basis of our investment in our foreign subsidiaries because we have the ability and intent to maintain our investments for the foreseeable future.
v3.22.0.1
Geographical Information
 12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Geographical Information Geographical Information
Revenue disaggregated by geography based on our customers’ billing addresses is as follows (in thousands):
Year Ended December 31,
202120202019
United States $2,003,642 $1,404,282 $1,010,186 
International(1)
574,385 288,376 132,575 
Total revenue $2,578,027 $1,692,658 $1,142,761 
(1)No individual country other than the United States exceeded 10% of our total revenue for any period presented.
Property and equipment, net and operating lease right-of-use assets by geography is as follows (in thousands):
December 31,
20212020
United States $247,975 $213,831 
International(1)
33,338 11,460 
Total property and equipment, net and operating lease right-of-use assets$281,313 $225,291 
(1)No individual country other than the United States exceeded 10% of our total property and equipment, net and operating lease right-of-use assets for any period presented.
v3.22.0.1
Description of Business and Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Dec. 31, 2021
Accounting Policies [Abstract]  
Basis of Presentation Basis of Presentation and ConsolidationWe prepared the accompanying consolidated financial statements in accordance with generally accepted accounting principles in the United States ("GAAP"). The consolidated financial statements include the accounts of Pinterest, Inc. and its wholly owned subsidiaries. We have eliminated all intercompany balances and transactions.
Consolidation Basis of Presentation and ConsolidationWe prepared the accompanying consolidated financial statements in accordance with generally accepted accounting principles in the United States ("GAAP"). The consolidated financial statements include the accounts of Pinterest, Inc. and its wholly owned subsidiaries. We have eliminated all intercompany balances and transactions.
Reclassifications
Reclassifications
We have reclassified certain amounts in prior periods to conform with current presentation.
Use of Estimates
Use of Estimates
Preparing our consolidated financial statements in conformity with GAAP requires us to make estimates and judgments that affect amounts reported in the consolidated financial statements and accompanying notes. We base these estimates and judgments on historical experience and various other assumptions that we consider reasonable. GAAP requires us to make estimates and assumptions in several areas, including the fair values of financial instruments, assets acquired and liabilities assumed through business combinations, common stock prior to our IPO, share-based awards, and contingencies as well as the collectability of our accounts receivable, the useful lives of our intangible assets and property and equipment, the incremental borrowing rate we use to determine our operating lease liabilities, and revenue recognition, among others. Actual results could differ materially from these estimates and judgments.
Segments SegmentsWe operate as a single operating segment. Our chief operating decision maker is our Chief Executive Officer ("CEO"), who reviews financial information presented on a consolidated basis, accompanied by disaggregated information about our revenue, for purposes of making operating decisions, assessing financial performance and allocating resources.
Revenue Recognition and Cost of Revenue
Revenue Recognition
We generate revenue by delivering ads on our website and mobile application. We recognize revenue only after transferring control of promised goods or services to customers, which occurs when a user clicks on an ad contracted on a cost per click (“CPC”) basis, views an ad contracted on a cost per thousand impressions (“CPM”) basis or views a video ad contracted on a cost per view ("CPV") basis. We typically bill customers on a CPC, CPM or CPV basis, and our payment terms vary by customer type and location. The term between billing and payment due dates is not significant.
We occasionally offer customers free ad inventory, and revenue is recognized only after satisfying our contractual performance obligations. When contracts with our customers contain multiple performance obligations, we allocate the overall transaction price, which is the amount of consideration to which we expect to be entitled in exchange for promised goods or services, to each of the distinct performance obligations based on their relative standalone selling prices. We generally determine standalone selling prices based on the effective price charged per contracted click, impression or view, and we do not disclose the value of unsatisfied performance obligations because the original expected duration of our contracts is generally less than one year.
We record sales commissions in sales and marketing as incurred because we would amortize these over a period of less than one year.
Cost of Revenue
Cost of revenue consists primarily of expenses associated with the delivery of our service, including the cost of hosting our website and mobile application. Cost of revenue also includes personnel-related expense, including salaries, benefits and share-based compensation, for employees on our operations teams, payments associated with partner arrangements, credit card and other transaction processing fees, and allocated facilities and other supporting overhead costs.
Share-Based Compensation
Share-Based Compensation
Restricted stock units ("RSUs") granted under our 2009 Stock Plan (the "2009 Plan") are subject to both a service condition, which is typically satisfied over four years, and a performance condition, which was deemed satisfied upon the pricing of our initial public offering ("IPO"). We did not record any share-based compensation expense for our RSUs prior to our IPO because the performance condition had not yet been satisfied. Upon pricing our IPO, we recorded cumulative share-based compensation expense using the accelerated attribution method for those RSUs granted under our 2009 Plan for which the service condition had been satisfied at that date. We will record the remaining unrecognized share-based compensation expense over the remainder of the requisite service period.
RSUs and restricted stock awards ("RSAs") granted under our 2019 Omnibus Incentive Plan (the "2019 Plan") are subject only to a service condition, which is typically satisfied over four years. We record share-based compensation expense for these RSUs and RSAs on a straight-line basis over the requisite service period.
We measure RSUs and RSAs based on the fair market value of our common stock on the grant date, and we account for forfeitures as they occur
Income Taxes We account for income taxes using the asset and liability method. We recognize deferred tax assets and liabilities for temporary differences between the financial reporting and tax bases of assets and liabilities using the enacted statutory tax rates in effect for the years in which we expect the differences to reverse. We establish valuation allowances to reduce deferred tax assets to the amounts we believe it is more likely than not we will be able to realize. We recognize tax benefits from uncertain tax positions when we believe it is more likely than not that the tax position is sustainable on examination by tax authorities based on its technical merits. We recognize taxes on Global Intangible Low-Taxed Income ("GILTI") as a current period expense when incurred.
Advertising Expenses Advertising ExpensesWe record advertising expenses as incurred and include these in sales and marketing in the consolidated statements of operations.
Marketable Securities
Marketable Securities
We invest in highly liquid corporate debt securities, U.S. treasury securities, asset-backed securities, U.S. government agency securities, municipal securities, non-U.S. government and supranational bonds and certificates of deposit. We classify marketable investments with stated maturities of ninety days or less from the date of purchase as cash equivalents and those with stated maturities greater than ninety days from the date of purchase as marketable securities.
We classify our marketable securities as available-for-sale investments in our current assets because they are available for use to support current operations. We carry our marketable investments at fair value and record unrealized gains or losses, net of taxes, in accumulated other comprehensive income (loss) in stockholders’ equity (deficit). We determine realized gains and losses on the sale of marketable investments using a specific identification method and record these and any expected credit losses in interest expense and other income (expense), net.
Restricted Cash
Restricted Cash
Our restricted cash primarily consists of certificates of deposit underlying secured letters of credit issued in connection with our operating leases. Restrictions typically lapse at the end of the lease term, and we classify restricted cash as current or non-current based on the remaining term of the restriction.
Fair Value Measurements
Fair Value Measurements
We account for certain assets and liabilities at fair value, which is the amount we believe market participants would receive to sell an asset or pay to transfer a liability in an orderly transaction. We categorize these assets and liabilities into the three levels below based on the degree to which the inputs we use to measure their fair values are observable in active markets. We use the most observable inputs available to us when measuring fair value.
•Level 1: Observable inputs such as quoted prices for identical assets or liabilities in active markets
•Level 2: Observable inputs such as quoted prices for similar assets or liabilities in active markets, quoted prices for identical assets or liabilities in inactive markets, or inputs that are derived principally from or corroborated by observable market data or other means
•Level 3: Unobservable inputs that are supported by little or no market activity and are significant to the fair value of the assets or liabilities
Accounts Receivable, Net of Allowances
Accounts Receivable, Net of Allowances
We record accounts receivable at the original invoiced amount. We maintain an allowance for credit losses for any receivables we may be unable to collect. We estimate uncollectible receivables based on our receivables’ age, our customers’ credit quality and current economic conditions, among other factors that may affect our customers’ ability to pay. We also maintain an allowance for sales credits, which we determine based on historical credits issued to customers. We include the allowances for credit losses and sales credits in accounts receivable, net in the consolidated balance sheets.
Property and Equipment
We carry property and equipment at cost less accumulated depreciation and calculate depreciation using the straight-line method over our assets’ estimated useful lives, which are generally:
Property and EquipmentUseful Life
Computer and network equipment3 years
Furniture and fixtures4 years
Leasehold improvementsLesser of estimated useful life or remaining lease term
Leases and Operating Lease Incremental Borrowing Rate
Leases and Operating Lease Incremental Borrowing Rate
We lease office space under operating leases with expiration dates through 2033. We determine whether an arrangement constitutes a lease at inception and record lease liabilities and right-of-use assets on our consolidated balance sheets at lease commencement. We measure lease liabilities based on the present value of the total lease payments not yet paid discounted based on the more readily determinable of the rate implicit in the lease or our incremental borrowing rate, which is the estimated rate we would be required to pay for a collateralized borrowing equal to the total lease payments over the term of the lease. We estimate our incremental borrowing rate based on an analysis of publicly traded debt securities of companies with credit and financial profiles similar to our own. We measure right-of-use assets based on the corresponding lease liability adjusted for (i) payments made to the lessor at or before the commencement date, (ii) initial direct costs we incur and (iii) tenant incentives under the lease. We begin recognizing rent expense when the lessor makes the underlying asset available to us, we do not assume renewals or early terminations unless we are reasonably certain to exercise these options at commencement, and we do not allocate consideration between lease and non-lease components.
For short-term leases, we record rent expense in our consolidated statements of operations on a straight-line basis over the lease term and record variable lease payments as incurred.
Business Combinations
Business Combinations
We include the results of operations of businesses that we acquire in our consolidated financial statements beginning on their respective acquisition dates. We allocate the fair value of the purchase consideration to the assets acquired and liabilities assumed based on their estimated fair values. When the fair value of the purchase consideration exceeds the fair values of the identifiable assets and liabilities acquired, we record the excess as goodwill. Our estimates of fair value are based on assumptions we believe to be reasonable but which are inherently uncertain and unpredictable, and as a result, actual results may differ from estimates. During the measurement period, which is one year from the acquisition date, we may record adjustments to the assets and liabilities acquired with the corresponding offset to goodwill. Any adjustments after the measurement period are reflected in our consolidated statements of operations.
Long-Lived Assets, Including Goodwill and Intangible Assets
Long-Lived Assets, Including Goodwill and Intangible Assets
We record definite-lived intangible assets at fair value less accumulated amortization. We calculate amortization using the straight-line method over the assets’ estimated useful lives of up to ten years.
We review our property and equipment and intangible assets for impairment whenever events or circumstances indicate that an asset’s carrying value may not be recoverable. We measure recoverability by comparing an asset’s carrying value to the future undiscounted cash flows that we expect it to generate. If this test indicates that the asset’s carrying value is not recoverable, we record an impairment charge to reduce the asset’s carrying value to its fair value. We did not record material property and equipment or intangible asset impairments during the periods presented.
We review goodwill for impairment at least annually or more frequently if current circumstances or events indicate that the fair value of our single reporting unit may be less than its carrying value. We did not record any goodwill impairment during the periods presented.
Website Development Costs
Website Development Costs
We capitalize costs to develop our website and mobile application when preliminary development efforts are successfully completed, management has authorized and committed project funding, and it is probable that the project will be completed and the software will be used as intended. Due to the iterative process by which we perform upgrades and the relatively short duration of our development projects, development costs meeting our capitalization criteria were not material during the periods presented.
Loss Contingencies
Loss Contingencies
We are involved in various lawsuits, claims and proceedings that arise in the ordinary course of business. We record a liability for these when we believe it is probable that we have incurred a loss and can reasonably estimate the loss. We regularly evaluate current information to determine whether we should adjust a recorded liability or record a new one.
Foreign Currency
Foreign Currency
The functional currency of our international subsidiaries is generally their local currency. We translate these subsidiaries’ financial statements into U.S. dollars using month-end exchange rates for assets and liabilities and average exchange rates for revenue and costs and expenses. We record translation gains and losses in accumulated other comprehensive income (loss) in stockholders’ equity (deficit). We record foreign exchange gains and losses in interest expense and other income (expense), net. Our net foreign exchange gains and losses were not material for the periods presented.
Concentration of Business Risk
Concentration of Business Risk
We have an agreement with Amazon Web Services (“AWS”) to provide the cloud computing infrastructure we use to host our website, mobile application and many of the internal tools we use to operate our business. We are currently required to maintain a substantial majority of our monthly usage of certain compute, storage, data transfer and other services on AWS. Any transition of the cloud services currently provided by AWS to another cloud services provider would be difficult to implement and would cause us to incur significant time and expense.
Concentration of Credit Risk
Concentration of Credit Risk
Financial instruments that may potentially expose us to concentrations of credit risk primarily consist of cash, cash equivalents, marketable securities and restricted cash. Our investment policy is meant to preserve capital and maintain liquidity. The policy limits our marketable investments to investment-grade securities and limits our credit exposure by limiting our concentration in any one corporate issuer or sector and by establishing a minimum credit rating for marketable investments we purchase. Although we deposit cash and marketable investments with multiple financial institutions, our deposits may exceed insurable limits.
Credit Losses on Accounts Receivable Our accounts receivable are generally unsecured. We monitor our customers’ credit quality on an ongoing basis and maintain reserves for estimated credit losses.
Recently Adopted Accounting Pronouncements
Recently Adopted Accounting Pronouncements
In October 2021, the Financial Accounting Standards Board issued ASU No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires an entity to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606, Revenue from Contracts with Customers. We elected to early adopt ASU 2021-08 prospectively as of October 1, 2021, and the effects of adoption on our consolidated financial statements were not material.
v3.22.0.1
Description of Business and Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2021
Accounting Policies [Abstract]  
Estimated Useful Lives of Property and Equipment
We carry property and equipment at cost less accumulated depreciation and calculate depreciation using the straight-line method over our assets’ estimated useful lives, which are generally:
Property and EquipmentUseful Life
Computer and network equipment3 years
Furniture and fixtures4 years
Leasehold improvementsLesser of estimated useful life or remaining lease term
Property and equipment, net consists of the following (in thousands):
December 31,
20212020
Leasehold improvements$101,214 $101,242 
Furniture and fixtures 25,956 24,516 
Computer and network equipment32,020 27,230 
Total property and equipment 159,190 152,988 
Less: accumulated depreciation (108,159)(83,770)
Construction in progress 2,370 157 
Property and equipment, net $53,401 $69,375 
v3.22.0.1
Cash, Cash Equivalents and Marketable Securities (Tables)
 12 Months Ended
Dec. 31, 2021
Cash and Cash Equivalents [Abstract]  
Composition of Cash, Cash Equivalents and Marketable Securities
Cash, cash equivalents and marketable securities consist of the following (in thousands):
December 31, 2021
Amortized CostUnrealized GainsUnrealized LossesFair Value
Cash and cash equivalents:
Cash$589,156 $— $— $589,156 
Money market funds711,188 — — 711,188 
Commercial paper114,972 4 — 114,976 
Corporate bonds4,310 — — 4,310 
Total cash and cash equivalents1,419,626 4 — 1,419,630 
Marketable securities:
Corporate bonds450,746 181 (1,510)449,417 
Commercial paper247,623 15 (78)247,560 
U.S. treasury securities189,325 19 (334)189,010 
Certificates of deposit82,504 19 (37)82,486 
Municipal securities49,470 11 (150)49,331 
Non-U.S. government and supranational bonds41,812 3 (131)41,684 
U.S. agency bonds1,000 — — 1,000 
Total marketable securities1,062,480 248 (2,240)1,060,488 
Total $2,482,106 $252 $(2,240)$2,480,118 
December 31, 2020
Amortized CostUnrealized GainsUnrealized LossesFair Value
Cash and cash equivalents:
Cash$352,061 $— $— $352,061 
Money market funds225,643 — — 225,643 
Commercial paper48,530 2 — 48,532 
U.S. treasury securities39,997 1 — 39,998 
Certificates of deposit2,996 — — 2,996 
Total cash and cash equivalents669,227 3 — 669,230 
Marketable securities:
Corporate bonds452,723 1,782 (18)454,487 
U.S. treasury securities202,795 260 (1)203,054 
Commercial paper234,170 86 (3)234,253 
Certificates of deposit134,828 57 (3)134,882 
Municipal securities17,604 22 (7)17,619 
U.S. agency bonds16,012 6 — 16,018 
Non-U.S. government and supranational bonds15,938 13 (1)15,950 
Asset-backed securities14,752 61 — 14,813 
Total marketable securities 1,088,822 2,287 (33)1,091,076 
Total $1,758,049 $2,290 $(33)$1,760,306 
Fair Value of Marketable Securities by Contractual Maturity
The fair value of our marketable securities by contractual maturity is as follows (in thousands):
December 31, 2021
Due in one year or less $716,132 
Due after one to five years 344,356 
Total $1,060,488 
v3.22.0.1
Fair Value of Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2021
Fair Value Disclosures [Abstract]  
Fair Values of Financial Instruments Measured on a Recurring Basis
The fair values of the financial instruments we measure at fair value on a recurring basis are as follows (in thousands):
December 31, 2021
Level 1Level 2Level 3Total
Cash equivalents:
Money market funds $711,188 $— $— $711,188 
Commercial paper — 114,976 — 114,976 
Corporate bonds— 4,310 — 4,310 
Marketable securities:
Corporate bonds — 449,417 — 449,417 
Commercial paper — 247,560 — 247,560 
U.S. treasury securities 189,010 — — 189,010 
Certificates of deposit — 82,486 — 82,486 
Municipal securities— 49,331 — 49,331 
Non-U.S. government and supranational bonds— 41,684 — 41,684 
U.S. agency bonds — 1,000 — 1,000 
Prepaid expenses and other current assets:
Certificates of deposit — 1,137 — 1,137 
Restricted cash:
Certificates of deposit $— $6,297 $— $6,297 
December 31, 2020
Level 1Level 2Level 3Total
Cash equivalents:
Money market funds $225,643 $— $— $225,643 
Commercial paper— 48,532 — 48,532 
U.S. treasury securities39,998 — — 39,998 
Certificates of deposit— 2,996 — 2,996 
Marketable securities:
Corporate bonds — 454,487 — 454,487 
Commercial paper— 234,253 — 234,253 
U.S. treasury securities 203,054 — — 203,054 
Certificates of deposit— 134,882 — 134,882 
Municipal securities— 17,619 — 17,619 
U.S. agency bonds— 16,018 — 16,018 
Non-U.S. government and supranational bonds— 15,950 — 15,950 
Asset-backed securities— 14,813 — 14,813 
Prepaid expenses and other current assets:
Certificates of deposit — 571 — 571 
Restricted cash:
Certificates of deposit $— $9,110 $— $9,110 
v3.22.0.1
Other Balance Sheet Components (Tables)
 12 Months Ended
Dec. 31, 2021
Other Balance Sheet Components [Abstract]  
Property and Equipment, Net
We carry property and equipment at cost less accumulated depreciation and calculate depreciation using the straight-line method over our assets’ estimated useful lives, which are generally:
Property and EquipmentUseful Life
Computer and network equipment3 years
Furniture and fixtures4 years
Leasehold improvementsLesser of estimated useful life or remaining lease term
Property and equipment, net consists of the following (in thousands):
December 31,
20212020
Leasehold improvements$101,214 $101,242 
Furniture and fixtures 25,956 24,516 
Computer and network equipment32,020 27,230 
Total property and equipment 159,190 152,988 
Less: accumulated depreciation (108,159)(83,770)
Construction in progress 2,370 157 
Property and equipment, net $53,401 $69,375 
Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consists of the following (in thousands):
December 31,
20212020
Accrued hosting expenses$84,105 $39,233 
Accrued compensation37,154 33,215 
Operating lease liabilities41,693 43,633 
Other accrued expenses79,179 39,259 
Accrued expenses and other current liabilities $242,131 $155,340 
v3.22.0.1
Goodwill and Intangible Assets, Net (Tables)
 12 Months Ended
Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill
Changes in goodwill for the periods presented are as follows (in thousands):
Balance as of December 31, 2020$6,905 
Acquisitions33,303 
Balance as of December 31, 2021$40,208 
Composition of Intangible Assets, Net
Intangible assets, net consists of the following (in thousands):
December 31, 2021
Gross Carrying AmountAccumulated AmortizationNet Carrying Amount
Weighted-Average Useful Life (1)
Acquired patents $9,037 $(3,389)$5,648 9.1 years
Acquired technology and other intangibles 19,970 (4,711)15,259 4.2 years
Total intangible assets, net $29,007 $(8,100)$20,907 
December 31, 2020
Gross Carrying AmountAccumulated AmortizationNet Carrying Amount
Weighted-Average Useful Life (1)
Acquired patents$9,037 $(2,380)$6,657 9.1 years
Acquired technology and other intangibles4,385 (4,385)— 1.5 years
Total intangible assets, net $13,422 $(6,765)$6,657 
(1)Based on the weighted-average useful life established as of acquisition date.
Estimated Future Amortization Expense Estimated future amortization expense as of December 31, 2021, is as follows (in thousands):
Intangible Asset Amortization
2022$4,126 
20234,126 
20244,126 
20254,116 
20263,424 
Thereafter 989 
Total $20,907 
v3.22.0.1
Commitment and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]  
Non-cancelable Contractual Commitments As of December 31, 2021, our non-cancelable contractual commitments are as follows (in thousands):
Purchase CommitmentsOperating LeasesTotal Commitments
2022$— $57,877 $57,877 
2023— 56,601 56,601 
2024— 34,520 34,520 
2025— 29,736 29,736 
2026— 30,382 30,382 
Thereafter 2,949,100 114,511 3,063,611 
Total $2,949,100 $323,626 $3,272,727 
v3.22.0.1
Leases (Tables)
 12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Operating Lease Costs Operating lease costs for the years ended December 31, 2021, 2020 and 2019, are as follows (in thousands):
Year Ended December 31,
202120202019
Lease cost:
Operating lease cost$53,691 $51,285 $40,257 
Short-term lease cost1,434 3,933 3,456 
Total$55,125 $55,218 $43,713 
Maturities of Operating Lease Liabilities Maturities of our operating lease liabilities, which do not include short-term leases, as of December 31, 2021, are as follows (in thousands):
Operating Leases
2022$57,393 
202356,601 
202434,520 
202529,736 
202630,382 
Thereafter114,511 
Total lease payments323,143 
Less imputed interest(72,269)
Total operating lease liabilities$250,874 
v3.22.0.1
Share-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Stock Option Activity
Stock option activity during the year ended December 31, 2021, was as follows (in thousands, except per share amounts):
Stock Options Outstanding
SharesWeighted-Average Exercise PriceWeighted-Average Remaining Contractual Term
Aggregate Intrinsic
Value (1)
(in years)
Outstanding as of December 31, 202023,947$3.15 2.9$1,502,604 
Exercised (7,806)3.06 
Outstanding as of December 31, 202116,141$3.19 1.9$535,118 
Exercisable as of December 31, 202115,576$2.50 1.7$527,204 
(1)We calculate intrinsic value based on the difference between the exercise price of in-the-money-stock options and the fair value of our common stock as of the respective balance sheet date.
Restricted Stock Unit and Restricted Stock Award Activity
RSU and RSA activity during the year ended December 31, 2021, was as follows (in thousands, except per share amounts):
Restricted Stock Units and Restricted Stock Awards Outstanding
SharesWeighted Average Grant Date Fair Value
Outstanding as of December 31, 202054,079$20.45 
Granted(1)
9,93167.27 
Released(21,991)23.28 
Forfeited(1)
(5,761)25.02 
Outstanding as of December 31, 202136,258$30.84 
(1)Includes the effects of awards modified during the year ended December 31, 2021.
Share-Based Compensation Expense
Share-based compensation expense during the years ended December 31, 2021, 2020 and 2019, was as follows (in thousands):
Year Ended December 31,
202120202019
Cost of revenue $7,438 $7,865 $31,758 
Research and development 309,715 218,718 867,191 
Sales and marketing 52,691 35,645 239,315 
General and administrative 45,538 58,792 239,517 
Total share-based compensation $415,382 $321,020 $1,377,781 
v3.22.0.1
Net Income (Loss) Per Share Attributable to Common Stockholders (Tables)
 12 Months Ended
Dec. 31, 2021
Earnings Per Share [Abstract]  
Calculation of Basic and Diluted Net Income (Loss) Per Share Attributable to Common Stockholders
We calculated basic and diluted net income (loss) per share attributable to common stockholders as follows (in thousands, except per share amounts):
Year Ended December 31,
202120202019
Class AClass BClass AClass BClass AClass B
Basic net income (loss) per share attributable to common stockholders:
Numerator:
Net income (loss) attributable to common stockholders$274,699 $41,739 $(96,499)$(31,824)$(459,412)$(901,959)
Denominator:
Weighted-average shares used in computing net income (loss) per share attributable to common stockholders, basic555,608 84,422 448,392 147,872 141,894 278,579 
Basic net income (loss) per share attributable to common stockholders$0.49 $0.49 $(0.22)$(0.22)$(3.24)$(3.24)
Diluted net income (loss) per share attributable to common stockholders:
Numerator:
Net income (loss) attributable to common stockholders$274,699 $41,739 $(96,499)$(31,824)$(459,412)$(901,959)
Reallocation of net income as a result of conversion of Class B to Class A common stock 41,739 — — — — — 
Reallocation of net income to Class B common stock — (3,115)— — — — 
Diluted net income (loss) attributable to common stockholders$316,438 $38,624 $(96,499)$(31,824)$(459,412)$(901,959)
Denominator:
Weighted-average shares used in computing net income (loss) per share555,608 84,422 448,392 147,872 141,894 278,579 
Conversion of Class B to Class A common stock84,422 — — — — — 
Weighted average effect of dilutive potential common stock 51,621 — — — — — 
Weighted-average shares used in computing net income (loss) per share attributable to common stockholders, diluted691,651 84,422 448,392 147,872 141,894 278,579 
Diluted net income (loss) per share attributable to common stockholders$0.46 $0.46 $(0.22)$(0.22)$(3.24)$(3.24)
Weighted-Average Anti-Dilutive Shares of Common Stock Excluded from the Calculation of Diluted Net Income (Loss) Per Share
Basic net loss per share is the same as diluted net loss per share for the periods we reported net losses. We excluded the following weighted-average potential shares of common stock from our calculation of diluted net income (loss) per share attributable to common stockholders because these would be anti-dilutive (in thousands):
Year Ended December 31,
202120202019
Redeemable convertible preferred stock— — 95,469 
Outstanding stock options— 40,067 72,999 
Unvested restricted stock units and restricted stock awards3,271 63,603 69,800 
Redeemable convertible preferred stock warrants— — 77 
Total3,271 103,670 238,345 
v3.22.0.1
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2021
Income Tax Disclosure [Abstract]  
Components of Income (Loss) Before Provision for Income Taxes
The components of income (loss) before provision for income taxes are as follows (in thousands):
Year Ended December 31,
202120202019
United States $331,447 $49,973 $(1,266,677)
Foreign (10,476)(176,993)(94,162)
Income (loss) before provision for income taxes $320,971 $(127,020)$(1,360,839)
Composition of the Provision for Income Taxes
Provision for income taxes consists of the following (in thousands):
Year Ended December 31,
202120202019
Current:
Federal $— $— $— 
State 2,303 79 — 
Foreign 2,957 691 1,677 
Total current tax expense 5,260 770 1,677 
Deferred:
Federal 6 654 (555)
State 6 5 (76)
Foreign (739)(126)(514)
Total deferred tax expense (benefit)(727)533 (1,145)
Provision for income taxes $4,533 $1,303 $532 
Reconciliation of the Difference Between Income Taxes Computed at the Statutory Federal Income Tax Rate and the Provision for Income Taxes
The difference between income taxes computed at the statutory federal income tax rate and the provision for income taxes is attributable to the following (in thousands):
Year Ended December 31,
202120202019
Tax at U.S. statutory rate $67,404 $(26,674)$(285,776)
State income taxes, net of benefit 2,307 84 (77)
Foreign losses not benefited 4,448 37,716 20,932 
Permanent book/tax differences 954 1,051 2,453 
Legal settlement— 2,290 — 
Share-based compensation (269,009)(303,245)(84,366)
Change in valuation allowance 278,761 352,410 422,315 
Tax credits (79,787)(63,205)(74,399)
Other (545)876 (550)
Provision for income taxes $4,533 $1,303 $532 
Significant Components of Deferred Tax Assets and Liabilities
Significant components of our deferred tax assets and liabilities are as follows (in thousands):
December 31,
20212020
Deferred tax assets:
Net operating loss carryforwards $1,036,254 $784,721 
Research tax credits 401,219 269,658 
Reserves, accruals, and other 29,641 18,106 
Lease obligation 58,860 44,446 
Share-based compensation 63,798 96,932 
Total deferred tax assets 1,589,772 1,213,863 
Less: valuation allowance (1,539,889)(1,176,910)
Deferred tax assets, net of valuation allowance 49,883 36,953 
Deferred tax liabilities:
Depreciation and amortization (47,952)(34,576)
Prepaid expenses (2,036)(1,523)
Total deferred tax liabilities (49,988)(36,099)
Deferred tax assets (liabilities)$(105)$854 
Changes in Gross Unrecognized Tax Benefits
Changes in gross unrecognized tax benefits were as follows (in thousands):
Gross Unrecognized Tax Benefits
Balance as of December 31, 2019$129,185 
Increases for tax positions of prior years 886 
Decreases for tax positions of prior years(37,250)
Increases for tax positions of current year 47,339 
Balance as of December 31, 2020$140,160 
Increases for tax positions of prior years 2,906 
Increases for tax positions of current year 61,993 
Balance as of December 31, 2021$205,059 
v3.22.0.1
Geographical Information (Tables)
 12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Revenue Disaggregated by Geography
Revenue disaggregated by geography based on our customers’ billing addresses is as follows (in thousands):
Year Ended December 31,
202120202019
United States $2,003,642 $1,404,282 $1,010,186 
International(1)
574,385 288,376 132,575 
Total revenue $2,578,027 $1,692,658 $1,142,761 
(1)No individual country other than the United States exceeded 10% of our total revenue for any period presented.
Property and Equipment, Net and Operating Lease Right-of-Use Assets by Geography
Property and equipment, net and operating lease right-of-use assets by geography is as follows (in thousands):
December 31,
20212020
United States $247,975 $213,831 
International(1)
33,338 11,460 
Total property and equipment, net and operating lease right-of-use assets$281,313 $225,291 
(1)No individual country other than the United States exceeded 10% of our total property and equipment, net and operating lease right-of-use assets for any period presented.
v3.22.0.1
Description of Business and Summary of Significant Accounting Policies - Narrative (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2021
USD ($)
segment
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Summary of Significant Accounting Policies [Line Items]      
Number of operating segments | segment 1    
Advertising expenses | $ $ 94.7 $ 30.3 $ 55.0
Estimated useful lives of intangible assets (up to) 10 years    
Major Customer One | Revenue | Customer Concentration Risk      
Summary of Significant Accounting Policies [Line Items]      
Concentration percentage     10.00%
Unvested restricted stock units and restricted stock awards | 2019 Plan      
Summary of Significant Accounting Policies [Line Items]      
Service period 4 years    
RSUs | 2009 Plan      
Summary of Significant Accounting Policies [Line Items]      
Service period 4 years    
v3.22.0.1
Description of Business and Summary of Significant Accounting Policies - Estimated Useful Lives of Property and Equipment (Details)
 12 Months Ended
Dec. 31, 2021
Computer and network equipment  
Property, Plant and Equipment [Line Items]  
Useful Life 3 years
Furniture and fixtures  
Property, Plant and Equipment [Line Items]  
Useful Life 4 years
v3.22.0.1
Cash, Cash Equivalents and Marketable Securities - Composition of Cash, Cash Equivalents and Marketable Securities (Details) - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Cash and cash equivalents:    
Amortized Cost $ 1,419,626 $ 669,227
Unrealized Gains 4 3
Unrealized Losses 0 0
Fair Value 1,419,630 669,230
Marketable securities:    
Amortized Cost 1,062,480 1,088,822
Unrealized Gains 248 2,287
Unrealized Losses (2,240) (33)
Fair Value 1,060,488 1,091,076
Total    
Amortized Cost 2,482,106 1,758,049
Unrealized Gains 252 2,290
Unrealized Losses (2,240) (33)
Fair Value 2,480,118 1,760,306
Corporate bonds    
Marketable securities:    
Amortized Cost 450,746 452,723
Unrealized Gains 181 1,782
Unrealized Losses (1,510) (18)
Fair Value 449,417 454,487
U.S. treasury securities    
Marketable securities:    
Amortized Cost 189,325 202,795
Unrealized Gains 19 260
Unrealized Losses (334) (1)
Fair Value 189,010 203,054
Commercial paper    
Marketable securities:    
Amortized Cost 247,623 234,170
Unrealized Gains 15 86
Unrealized Losses (78) (3)
Fair Value 247,560 234,253
Certificates of deposit    
Marketable securities:    
Amortized Cost 82,504 134,828
Unrealized Gains 19 57
Unrealized Losses (37) (3)
Fair Value 82,486 134,882
Municipal securities    
Marketable securities:    
Amortized Cost 49,470 17,604
Unrealized Gains 11 22
Unrealized Losses (150) (7)
Fair Value 49,331 17,619
U.S. agency bonds    
Marketable securities:    
Amortized Cost 1,000 16,012
Unrealized Gains 0 6
Unrealized Losses 0 0
Fair Value 1,000 16,018
Non-U.S. government and supranational bonds    
Marketable securities:    
Amortized Cost 41,812 15,938
Unrealized Gains 3 13
Unrealized Losses (131) (1)
Fair Value 41,684 15,950
Asset-backed securities    
Marketable securities:    
Amortized Cost   14,752
Unrealized Gains   61
Unrealized Losses   0
Fair Value   14,813
Cash    
Cash and cash equivalents:    
Amortized Cost 589,156 352,061
Unrealized Gains 0 0
Unrealized Losses 0 0
Fair Value 589,156 352,061
Money market funds    
Cash and cash equivalents:    
Amortized Cost 711,188 225,643
Unrealized Gains 0 0
Unrealized Losses 0 0
Fair Value 711,188 225,643
Commercial paper    
Cash and cash equivalents:    
Amortized Cost 114,972 48,530
Unrealized Gains 4 2
Unrealized Losses 0 0
Fair Value 114,976 48,532
Corporate bonds    
Cash and cash equivalents:    
Amortized Cost 4,310  
Unrealized Gains 0  
Unrealized Losses 0  
Fair Value $ 4,310  
U.S. treasury securities    
Cash and cash equivalents:    
Amortized Cost   39,997
Unrealized Gains   1
Unrealized Losses   0
Fair Value   39,998
Certificates of deposit    
Cash and cash equivalents:    
Amortized Cost   2,996
Unrealized Gains   0
Unrealized Losses   0
Fair Value   $ 2,996
v3.22.0.1
Cash, Cash Equivalents and Marketable Securities - Fair Value of Marketable Securities by Contractual Maturity (Details) - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Cash and Cash Equivalents [Abstract]    
Due in one year or less $ 716,132  
Due after one to five years 344,356  
Total $ 1,060,488 $ 1,091,076
v3.22.0.1
Fair Value of Financial Instruments - Fair Values of Financial Instruments Measured on a Recurring Basis (Details) - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents $ 1,419,630 $ 669,230
Marketable securities 1,060,488 1,091,076
Corporate bonds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 449,417 454,487
Corporate bonds | Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 449,417 454,487
Corporate bonds | Recurring | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 0 0
Corporate bonds | Recurring | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 449,417 454,487
Corporate bonds | Recurring | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 0 0
Commercial paper    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 247,560 234,253
Commercial paper | Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 247,560 234,253
Commercial paper | Recurring | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 0 0
Commercial paper | Recurring | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 247,560 234,253
Commercial paper | Recurring | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 0 0
U.S. treasury securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 189,010 203,054
U.S. treasury securities | Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 189,010 203,054
U.S. treasury securities | Recurring | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 189,010 203,054
U.S. treasury securities | Recurring | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 0 0
U.S. treasury securities | Recurring | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 0 0
Certificates of deposit    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 82,486 134,882
Certificates of deposit | Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 82,486 134,882
Prepaid expenses and other current assets 1,137 571
Restricted cash 6,297 9,110
Certificates of deposit | Recurring | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 0 0
Prepaid expenses and other current assets 0 0
Restricted cash 0 0
Certificates of deposit | Recurring | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 82,486 134,882
Prepaid expenses and other current assets 1,137 571
Restricted cash 6,297 9,110
Certificates of deposit | Recurring | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 0 0
Prepaid expenses and other current assets 0 0
Restricted cash 0 0
Municipal securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 49,331 17,619
Municipal securities | Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 49,331 17,619
Municipal securities | Recurring | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 0 0
Municipal securities | Recurring | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 49,331 17,619
Municipal securities | Recurring | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 0 0
Non-U.S. government and supranational bonds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 41,684 15,950
Non-U.S. government and supranational bonds | Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 41,684 15,950
Non-U.S. government and supranational bonds | Recurring | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 0 0
Non-U.S. government and supranational bonds | Recurring | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 41,684 15,950
Non-U.S. government and supranational bonds | Recurring | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 0 0
U.S. agency bonds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 1,000 16,018
U.S. agency bonds | Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 1,000 16,018
U.S. agency bonds | Recurring | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 0 0
U.S. agency bonds | Recurring | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 1,000 16,018
U.S. agency bonds | Recurring | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 0 0
Asset-backed securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities   14,813
Asset-backed securities | Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities   14,813
Asset-backed securities | Recurring | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities   0
Asset-backed securities | Recurring | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities   14,813
Asset-backed securities | Recurring | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities   0
Money market funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 711,188 225,643
Money market funds | Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 711,188 225,643
Money market funds | Recurring | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 711,188 225,643
Money market funds | Recurring | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 0 0
Money market funds | Recurring | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 0 0
Commercial paper    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 114,976 48,532
Commercial paper | Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 114,976 48,532
Commercial paper | Recurring | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 0 0
Commercial paper | Recurring | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 114,976 48,532
Commercial paper | Recurring | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 0 0
Corporate bonds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 4,310  
Corporate bonds | Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 4,310  
Corporate bonds | Recurring | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 0  
Corporate bonds | Recurring | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 4,310  
Corporate bonds | Recurring | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents $ 0  
U.S. treasury securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents   39,998
U.S. treasury securities | Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents   39,998
U.S. treasury securities | Recurring | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents   39,998
U.S. treasury securities | Recurring | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents   0
U.S. treasury securities | Recurring | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents   0
Certificates of deposit    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents   2,996
Certificates of deposit | Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents   2,996
Certificates of deposit | Recurring | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents   0
Certificates of deposit | Recurring | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents   2,996
Certificates of deposit | Recurring | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents   $ 0
v3.22.0.1
Other Balance Sheet Components - Property and Equipment, Net (Details) - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Property, Plant and Equipment [Line Items]    
Less: accumulated depreciation $ (108,159) $ (83,770)
Property and equipment, net 53,401 69,375
Depreciable Property and Equipment    
Property, Plant and Equipment [Line Items]    
Property and equipment 159,190 152,988
Leasehold improvements    
Property, Plant and Equipment [Line Items]    
Property and equipment 101,214 101,242
Furniture and fixtures    
Property, Plant and Equipment [Line Items]    
Property and equipment 25,956 24,516
Computer and network equipment    
Property, Plant and Equipment [Line Items]    
Property and equipment 32,020 27,230
Construction in progress    
Property, Plant and Equipment [Line Items]    
Property and equipment $ 2,370 $ 157
v3.22.0.1
Other Balance Sheet Components - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Other Balance Sheet Components [Abstract]      
Depreciation expense $ 26.2 $ 36.0 $ 26.3
v3.22.0.1
Other Balance Sheet Components - Accrued Expenses and Other Current Liabilities (Details) - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Other Balance Sheet Components [Abstract]    
Accrued hosting expenses $ 84,105 $ 39,233
Accrued compensation 37,154 33,215
Operating lease liabilities 41,693 43,633
Other accrued expenses 79,179 39,259
Accrued expenses and other current liabilities $ 242,131 $ 155,340
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Accrued expenses and other current liabilities Accrued expenses and other current liabilities
v3.22.0.1
Acquisition (Details) - USD ($)
Dec. 03, 2021
Dec. 31, 2021
Dec. 31, 2020
Asset Acquisition [Line Items]      
Goodwill   $ 40,208,000 $ 6,905,000
Vochi      
Asset Acquisition [Line Items]      
Purchase consideration in cash $ 45,900,000    
Indemnification holdback $ 8,600,000    
Useful life 5 years    
Goodwill $ 33,300,000    
Deductible goodwill   $ 0  
Vochi | Developed technology and other intangibles      
Asset Acquisition [Line Items]      
Finite intangibles acquired $ 14,800,000    
v3.22.0.1
Goodwill and Intangible Assets, Net - Schedule of Goodwill (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
USD ($)
Goodwill [Roll Forward]  
Balance as of December 31, 2020 $ 6,905
Acquisitions 33,303
Balance as of December 31, 2021 $ 40,208
v3.22.0.1
Goodwill and Intangible Assets, Net - Composition of Intangible Assets, Net (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount $ 29,007 $ 13,422
Accumulated Amortization (8,100) (6,765)
Net Carrying Amount $ 20,907 6,657
Weighted-Average Useful Life 10 years  
Acquired patents    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount $ 9,037 9,037
Accumulated Amortization (3,389) (2,380)
Net Carrying Amount $ 5,648 $ 6,657
Weighted-Average Useful Life 9 years 1 month 6 days 9 years 1 month 6 days
Acquired technology and other intangibles    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount $ 19,970 $ 4,385
Accumulated Amortization (4,711) (4,385)
Net Carrying Amount $ 15,259 $ 0
Weighted-Average Useful Life 4 years 2 months 12 days 1 year 6 months
v3.22.0.1
Goodwill and Intangible Assets, Net - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]      
Amortization expense $ 1.3 $ 1.0 $ 1.5
v3.22.0.1
Goodwill and Intangible Assets, Net - Estimated Future Amortization Expense (Details) - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]    
2022 $ 4,126  
2023 4,126  
2024 4,126  
2025 4,116  
2026 3,424  
Thereafter 989  
Net Carrying Amount $ 20,907 $ 6,657
v3.22.0.1
Commitments and Contingencies - Non-cancelable Contractual Commitments (Details)
$ in Thousands
Dec. 31, 2021
USD ($)
Purchase Commitments  
2022 $ 0
2023 0
2024 0
2025 0
2026 0
Thereafter 2,949,100
Total 2,949,100
Operating Leases  
2022 57,877
2023 56,601
2024 34,520
2025 29,736
2026 30,382
Thereafter 114,511
Total lease payments 323,626
Total Commitments  
2022 57,877
2023 56,601
2024 34,520
2025 29,736
2026 30,382
Thereafter 3,063,611
Total $ 3,272,727
v3.22.0.1
Commitments and Contingencies - Narrative (Details) - USD ($)
$ in Millions
 1 Months Ended
Nov. 30, 2018
Dec. 31, 2021
Apr. 30, 2021
Commitments And Contingencies [Line Items]      
Minimum required purchases   $ 2,949.1 $ 3,250.0
Revolving Credit Facility | Line of Credit      
Commitments And Contingencies [Line Items]      
Term of borrowing agreement 5 years    
Maximum borrowing capacity $ 500.0    
Increase in maximum borrowing capacity if the accordion option is exercised $ 100.0    
Maximum increase in maximum borrowing capacity as a percent of consolidated total assets 10.00%    
Commitment fee rate 0.15%    
Required minimum liquidity balance $ 350.0    
Remaining borrowing capacity   $ 500.0  
Revolving Credit Facility | Line of Credit | LIBOR      
Commitments And Contingencies [Line Items]      
Basis spread on variable rate 1.50%    
Revolving Credit Facility | Line of Credit | Alternative Base Rate      
Commitments And Contingencies [Line Items]      
Basis spread on variable rate 0.50%    
Revolving Credit Facility | Letter of Credit      
Commitments And Contingencies [Line Items]      
Commitment fee rate 1.50%    
v3.22.0.1
Leases - Operating Lease Costs (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Lease cost:      
Operating lease cost $ 53,691 $ 51,285 $ 40,257
Short-term lease cost 1,434 3,933 3,456
Total $ 55,125 $ 55,218 $ 43,713
v3.22.0.1
Leases - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Leases [Abstract]      
Weighted-average remaining term of operating leases 7 years 6 months 8 years 1 month 6 days  
Weighted-average discount rate used to measure the present value of operating lease liabilities 4.20% 4.80%  
Cash payments included in the measurement of operating lease liabilities $ 59.0 $ 54.3 $ 38.4
Undiscounted future payments not yet commenced $ 20.8    
v3.22.0.1
Leases - Maturities of Operating Lease Liabilities (Details)
$ in Thousands
Dec. 31, 2021
USD ($)
Leases [Abstract]  
2022 $ 57,393
2023 56,601
2024 34,520
2025 29,736
2026 30,382
Thereafter 114,511
Total lease payments 323,143
Less imputed interest (72,269)
Total operating lease liabilities $ 250,874
v3.22.0.1
Share-Based Compensation - Narrative (Details) - USD ($)
$ in Thousands
 12 Months Ended
Oct. 15, 2021
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Grant-date fair value of stock options vested   $ 3,200 $ 3,300 $ 2,200
Aggregate intrinsic value of stock options exercised   $ 511,400 $ 1,023,900 $ 425,100
Stock options granted (in shares)   0 0 0
Unrecognized share-based compensation expense   $ 851,200    
Weighted-average recognition period for unrecognized share-based compensation expense   2 years 8 months 12 days    
Share-based compensation   $ 415,382 $ 321,020 $ 1,377,781
Co-Founder And Chief Design And Creative Officer        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Share-based compensation $ 48,600      
Incremental compensation cost $ 40,800      
2009 Plan        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Shares reserved for issuance (in shares)   0    
2009 Plan | Stock options        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Expiration period   10 years    
2009 Plan | RSUs        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Expiration period   7 years    
2019 Plan        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Percentage of outstanding shares, additional reserve   5.00%    
2019 Plan | Class A        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Shares reserved for issuance (in shares)   126,949,622    
2019 Plan | Stock options        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Expiration period   10 years    
v3.22.0.1
Share-Based Compensation - Stock Option Activity (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Shares    
Beginning balance (in shares) 23,947  
Exercised (in shares) (7,806)  
Ending balance (in shares) 16,141 23,947
Exercisable (in shares) 15,576  
Weighted-Average Exercise Price    
Beginning balance (in dollars per share) $ 3.15  
Exercised (in dollars per share) 3.06  
Ending balance (in dollars per share) 3.19 $ 3.15
Exercisable (in dollars per share) $ 2.50  
Weighted-Average Remaining Contractual Term, Outstanding 1 year 10 months 24 days 2 years 10 months 24 days
Weighted-Average Remaining Contractual Term, Exercisable 1 year 8 months 12 days  
Aggregate Intrinsic Value, Outstanding $ 535,118 $ 1,502,604
Aggregate Intrinsic Value, Exercisable $ 527,204  
v3.22.0.1
Share-Based Compensation - Restricted Stock Unit and Restricted Stock Award Activity (Details) - Unvested restricted stock units and restricted stock awards
shares in Thousands
 12 Months Ended
Dec. 31, 2021
$ / shares
shares
Shares  
Beginning balance (in shares) | shares 54,079
Granted (in shares) | shares 9,931
Released (in shares) | shares (21,991)
Forfeited (in shares) | shares (5,761)
Ending balance (in shares) | shares 36,258
Weighted Average Grant Date Fair Value  
Beginning balance (in dollars per share) | $ / shares $ 20.45
Granted (in dollars per share) | $ / shares 67.27
Released (in dollars per share) | $ / shares 23.28
Forfeited (in dollars per share) | $ / shares 25.02
Ending balance (in dollars per share) | $ / shares $ 30.84
v3.22.0.1
Share-Based Compensation - Share-based Compensation Expense (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]      
Share-based compensation $ 415,382 $ 321,020 $ 1,377,781
Cost of revenue      
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]      
Share-based compensation 7,438 7,865 31,758
Research and development      
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]      
Share-based compensation 309,715 218,718 867,191
Sales and marketing      
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]      
Share-based compensation 52,691 35,645 239,315
General and administrative      
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]      
Share-based compensation $ 45,538 $ 58,792 $ 239,517
v3.22.0.1
Net Income (Loss) Per Share - Calculation of Basic and Diluted Net Income (Loss) Per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Denominator:      
Weighted-average shares used in computing net income (loss) per share attributable to common stockholders, basic (in shares) 640,030 596,264 420,473
Weighted-average shares used in computing net income (loss) per share attributable to common stockholders, diluted (in shares) 691,651 596,264 420,473
Basic net income (loss) per share attributable to common stockholders, basic (in dollars per share) $ 0.49 $ (0.22) $ (3.24)
Diluted net income (loss) per share attributable to common stockholders, diluted (in dollars per share) $ 0.46 $ (0.22) $ (3.24)
Class A      
Numerator:      
Net income (loss) attributable to common stockholders $ 274,699 $ (96,499) $ (459,412)
Reallocation of net income as a result of conversion of Class B to Class A common stock 41,739 0 0
Reallocation of net income to Class B common stock 0 0 0
Diluted net income (loss) attributable to common stockholders $ 316,438 $ (96,499) $ (459,412)
Denominator:      
Weighted-average shares used in computing net income (loss) per share attributable to common stockholders, basic (in shares) 555,608 448,392 141,894
Conversion of Class B to Class A common stock (in shares) 84,422 0 0
Weighted average effect of dilutive potential common stock (in shares) 51,621 0 0
Weighted-average shares used in computing net income (loss) per share attributable to common stockholders, diluted (in shares) 691,651 448,392 141,894
Basic net income (loss) per share attributable to common stockholders, basic (in dollars per share) $ 0.49 $ (0.22) $ (3.24)
Diluted net income (loss) per share attributable to common stockholders, diluted (in dollars per share) $ 0.46 $ (0.22) $ (3.24)
Class B      
Numerator:      
Net income (loss) attributable to common stockholders $ 41,739 $ (31,824) $ (901,959)
Reallocation of net income as a result of conversion of Class B to Class A common stock 0 0 0
Reallocation of net income to Class B common stock (3,115) 0 0
Diluted net income (loss) attributable to common stockholders $ 38,624 $ (31,824) $ (901,959)
Denominator:      
Weighted-average shares used in computing net income (loss) per share attributable to common stockholders, basic (in shares) 84,422 147,872 278,579
Conversion of Class B to Class A common stock (in shares) 0 0 0
Weighted average effect of dilutive potential common stock (in shares) 0 0 0
Weighted-average shares used in computing net income (loss) per share attributable to common stockholders, diluted (in shares) 84,422 147,872 278,579
Basic net income (loss) per share attributable to common stockholders, basic (in dollars per share) $ 0.49 $ (0.22) $ (3.24)
Diluted net income (loss) per share attributable to common stockholders, diluted (in dollars per share) $ 0.46 $ (0.22) $ (3.24)
v3.22.0.1
Net Income (Loss) Per Share Attributable to Common Stockholders - Weighted-Average Anti-Dilutive Shares of Common Stock Excluded from the Calculation of Diluted Net Loss Per Share (Details) - shares
shares in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Weighted-average anti-dilutive shares of common stock (in shares) 3,271 103,670 238,345
Redeemable convertible preferred stock      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Weighted-average anti-dilutive shares of common stock (in shares) 0 0 95,469
Outstanding stock options      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Weighted-average anti-dilutive shares of common stock (in shares) 0 40,067 72,999
Unvested restricted stock units and restricted stock awards      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Weighted-average anti-dilutive shares of common stock (in shares) 3,271 63,603 69,800
Redeemable convertible preferred stock warrants      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Weighted-average anti-dilutive shares of common stock (in shares) 0 0 77
v3.22.0.1
Income Taxes - Components of Loss Before Provision for Income Taxes (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Income Tax Disclosure [Abstract]      
United States $ 331,447 $ 49,973 $ (1,266,677)
Foreign (10,476) (176,993) (94,162)
Income (loss) before provision for income taxes $ 320,971 $ (127,020) $ (1,360,839)
v3.22.0.1
Income Taxes - Composition of the Provision for Income Taxes (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Current:      
Federal $ 0 $ 0 $ 0
State 2,303 79 0
Foreign 2,957 691 1,677
Total current tax expense 5,260 770 1,677
Deferred:      
Federal 6 654 (555)
State 6 5 (76)
Foreign (739) (126) (514)
Total deferred tax expense (benefit) (727) 533 (1,145)
Provision for income taxes $ 4,533 $ 1,303 $ 532
v3.22.0.1
Income Taxes - Reconciliation of the Difference Between Income Taxes Computed at the Statutory Federal Income Tax Rate and the Provision for Income Taxes (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Income Tax Disclosure [Abstract]      
Tax at U.S. statutory rate $ 67,404 $ (26,674) $ (285,776)
State income taxes, net of benefit 2,307 84 (77)
Foreign losses not benefited 4,448 37,716 20,932
Permanent book/tax differences 954 1,051 2,453
Legal settlement 0 2,290 0
Share-based compensation (269,009) (303,245) (84,366)
Change in valuation allowance 278,761 352,410 422,315
Tax credits (79,787) (63,205) (74,399)
Other (545) 876 (550)
Provision for income taxes $ 4,533 $ 1,303 $ 532
v3.22.0.1
Income Taxes - Significant Components of Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Deferred tax assets:    
Net operating loss carryforwards $ 1,036,254 $ 784,721
Research tax credits 401,219 269,658
Reserves, accruals, and other 29,641 18,106
Lease obligation 58,860 44,446
Share-based compensation 63,798 96,932
Total deferred tax assets 1,589,772 1,213,863
Less: valuation allowance (1,539,889) (1,176,910)
Deferred tax assets, net of valuation allowance 49,883 36,953
Deferred tax liabilities:    
Depreciation and amortization (47,952) (34,576)
Prepaid expenses (2,036) (1,523)
Total deferred tax liabilities (49,988) (36,099)
Deferred tax liabilities $ (105)  
Deferred tax assets   $ 854
v3.22.0.1
Income Taxes - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Income Taxes [Line Items]    
Increase (decrease) in deferred tax asset valuation allowance $ 363.0 $ 439.9
Unrecognized tax benefits that would affect effective tax rate 205.1  
Effective tax rate impact 2.6  
Remaining unrecognized tax benefits 202.5  
Federal    
Income Taxes [Line Items]    
Net operating loss carryforwards 4,314.0  
Federal | Research Tax Credits    
Income Taxes [Line Items]    
Tax credit carryforwards 355.6  
State | California    
Income Taxes [Line Items]    
Net operating loss carryforwards 500.8  
State | California | Research Tax Credits    
Income Taxes [Line Items]    
Tax credit carryforwards 275.4  
State | Other States    
Income Taxes [Line Items]    
Net operating loss carryforwards 1,677.0  
Foreign | Ireland    
Income Taxes [Line Items]    
Net operating loss carryforwards 51.9  
Foreign | Other Foreign    
Income Taxes [Line Items]    
Net operating loss carryforwards $ 2.0  
v3.22.0.1
Income Taxes - Changes in Gross Unrecognized Tax Benefits (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]    
Beginning balance $ 140,160 $ 129,185
Increases for tax positions of prior years 2,906 886
Decreases for tax positions of prior years   (37,250)
Increases for tax positions of current year 61,993 47,339
Ending balance $ 205,059 $ 140,160
v3.22.0.1
Geographical Information (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total revenue $ 2,578,027 $ 1,692,658 $ 1,142,761
Total property and equipment, net and operating lease right-of-use assets 281,313 225,291  
United States      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total revenue 2,003,642 1,404,282 1,010,186
Total property and equipment, net and operating lease right-of-use assets 247,975 213,831  
International      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total revenue 574,385 288,376 $ 132,575
Total property and equipment, net and operating lease right-of-use assets $ 33,338 $ 11,460