FRESHWORKS INC., 10-Q filed on 5/5/2026
Quarterly Report
v3.26.1
Cover - shares
 3 Months Ended
Mar. 31, 2026
Apr. 30, 2026
Document Information [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Mar. 31, 2026  
Document Transition Report false  
Entity File Number 001-40806  
Entity Registrant Name Freshworks Inc.  
Entity Incorporation, State or Country Code DE  
Entity Address, Address Line One 2950 S Delaware Street  
Entity Address, Address Line Two Suite 201  
Entity Tax Identification Number 33-1218825  
Entity Address, City or Town San Mateo  
Entity Address, State or Province CA  
Entity Address, Postal Zip Code 94403  
City Area Code 650  
Local Phone Number 513-0514  
Title of 12(b) Security Class A common stock, par value $0.00001 per share  
Trading Symbol FRSH  
Security Exchange Name NASDAQ  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Central Index Key 0001544522  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2026  
Document Fiscal Period Focus Q1  
Amendment Flag false  
Class A Common Stock    
Document Information [Line Items]    
Entity Common Stock, Shares Outstanding   252,359,292
Class B Common Stock    
Document Information [Line Items]    
Entity Common Stock, Shares Outstanding   24,074,875
v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 548,168 $ 569,774
Restricted cash, current 1,160 62,374
Marketable securities 231,069 211,597
Accounts receivable, net of allowance of $9,674 and $10,809 127,338 150,817
Deferred contract acquisition costs 30,927 29,830
Prepaid expenses and other current assets 68,148 72,774
Total current assets 1,006,810 1,097,166
Property and equipment, net 44,222 38,843
Operating lease right-of-use assets 36,968 39,893
Deferred contract acquisition costs, noncurrent 27,712 27,179
Goodwill 199,324 146,676
Intangible assets, net 96,703 76,986
Deferred tax assets 176,017 157,466
Other assets 17,626 18,503
Total assets 1,605,382 1,602,712
Current liabilities:    
Accounts payable 18,578 11,507
Accrued liabilities 109,405 101,202
Deferred revenue 392,070 385,320
Total current liabilities 520,053 498,029
Operating lease liabilities, non-current 29,402 33,282
Other liabilities 36,726 38,751
Total liabilities 586,181 570,062
Commitments and contingencies (Note 8)
Stockholders' equity:    
Preferred stock, $0.00001 par value per share; 10,000,000 shares authorized; zero shares issued and outstanding 0 0
Additional paid-in capital 4,579,812 4,586,392
Accumulated other comprehensive loss (3,650) (1,591)
Accumulated deficit (3,556,964) (3,552,154)
Total stockholders' equity 1,019,201 1,032,650
Total liabilities and stockholders' equity 1,605,382 1,602,712
Class A Common Stock    
Stockholders' equity:    
Common stock, value 2 2
Class B Common Stock    
Stockholders' equity:    
Common stock, value $ 1 $ 1
v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Accounts receivable, allowance for credit loss, current $ 9,674 $ 10,809
Preferred stock, par value (in dollars per share) $ 0.00001 $ 0.00001
Preferred stock, authorized (in shares) 10,000,000 10,000,000
Preferred stock, issued (in shares) 0 0
Preferred stock, outstanding (in shares) 0 0
Class A Common Stock    
Common stock, par value (in dollars per share) $ 0.00001 $ 0.00001
Common stock, authorized (in shares) 1,000,000,000 1,000,000,000
Common stock, issued (in shares) 243,933,616 248,359,124
Common stock, outstanding (in shares) 243,933,616 248,359,124
Class B Common Stock    
Common stock, par value (in dollars per share) $ 0.00001 $ 0.00001
Common stock, authorized (in shares) 350,000,000 350,000,000
Common stock, issued (in shares) 35,047,987 35,067,987
Common stock, outstanding (in shares) 35,047,987 35,067,987
v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Income Statement [Abstract]    
Revenue $ 228,633 $ 196,273
Cost of revenue 34,688 29,878
Gross profit 193,945 166,395
Operating expense:    
Research and development 49,261 40,001
Sales and marketing 112,317 89,158
General and administrative 40,427 47,247
Restructuring charges 0 405
Total operating expenses 202,005 176,811
Loss from operations (8,060) (10,416)
Interest and other income, net 1,426 12,969
Income (loss) before income taxes (6,634) 2,553
Provision for (benefit from) income taxes (1,824) 3,857
Net loss $ (4,810) $ (1,304)
Net loss per share - basic (in dollars per share) $ (0.02) $ 0
Net loss per share - diluted (in dollars per share) $ (0.02) $ 0
Weighted average number of shares - basic (in shares) 283,336 301,280
Weighted average number of shares - diluted (in shares) 283,336 301,280
v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Statement of Comprehensive Income [Abstract]    
Net loss $ (4,810) $ (1,304)
Other comprehensive income (loss):    
Change in unrealized gain or loss on marketable securities (224) (314)
Net change on cash flow hedges (1,835) 1,260
Total other comprehensive income (loss) (2,059) 946
Comprehensive loss $ (6,869) $ (358)
v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)
shares in Thousands, $ in Thousands
Total
Common Stock
Additional Paid-in Capital
Accumulated Other Comprehensive Income (Loss)
Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2024   303,382      
Beginning balance at Dec. 31, 2024 $ 1,137,921 $ 3 $ 4,874,133 $ (338) $ (3,735,877)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of common stock upon exercise of stock options (in shares)   146      
Issuance of common stock upon exercise of stock options 48   48    
Issuance of common stock upon vesting and settlement of restricted stock units, net of shares withheld for taxes (in shares)   1,584      
Issuance of common stock upon vesting and settlement of restricted stock units, net of shares withheld for taxes (16,754)   (16,754)    
Repurchase and retirement of common stock, including excise tax (in shares)   (6,732)      
Repurchase and retirement of common stock, including excise tax (111,977)   (111,977)    
Stock-based compensation 52,950   52,950    
Other comprehensive income (loss) 946     946  
Net loss (1,304)       (1,304)
Ending balance (in shares) at Mar. 31, 2025   298,380      
Ending balance at Mar. 31, 2025 1,061,830 $ 3 4,798,400 608 (3,737,181)
Beginning balance (in shares) at Dec. 31, 2025   283,427      
Beginning balance at Dec. 31, 2025 1,032,650 $ 3 4,586,392 (1,591) (3,552,154)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of common stock upon vesting and settlement of restricted stock units, net of shares withheld for taxes (in shares)   1,253      
Issuance of common stock upon vesting and settlement of restricted stock units, net of shares withheld for taxes (7,511)   (7,511)    
Repurchase and retirement of common stock, including excise tax (in shares)   (5,698)      
Repurchase and retirement of common stock, including excise tax (45,740)   (45,740)    
Stock-based compensation 46,671   46,671    
Other comprehensive income (loss) (2,059)     (2,059)  
Net loss (4,810)       (4,810)
Ending balance (in shares) at Mar. 31, 2026   278,982      
Ending balance at Mar. 31, 2026 $ 1,019,201 $ 3 $ 4,579,812 $ (3,650) $ (3,556,964)
v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash Flows from Operating Activities:    
Net loss $ (4,810) $ (1,304)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 7,863 6,360
Amortization of deferred contract acquisition costs 8,567 7,583
Non-cash lease expense 2,925 2,303
Stock-based compensation 43,921 51,664
Discount amortization on marketable securities (947) (1,901)
Deferred income taxes (5,865) (459)
Other 7,808 (17)
Changes in operating assets and liabilities:    
Accounts receivable 24,917 10,594
Deferred contract acquisition costs (10,197) (8,704)
Prepaid expenses and other assets (12,564) (15,317)
Accounts payable 6,894 526
Accrued and other liabilities (3,442) (496)
Deferred revenue 1,027 7,049
Operating lease liabilities (3,708) 92
Net cash provided by operating activities 62,389 57,973
Cash Flows from Investing Activities:    
Purchases of property and equipment (3,901) (1,296)
Proceeds from sale of property and equipment 5 38
Capitalized internal-use software (3,379) (2,772)
Purchases of marketable securities (147,421) (121,933)
Maturities and redemptions of marketable securities 129,351 172,194
Business combination, net of cash acquired (56,913) 0
Net cash provided by (used in) investing activities (82,258) 46,231
Cash Flows from Financing Activities:    
Proceeds from exercise of stock options 0 48
Payment of withholding taxes on net share settlement of equity awards (7,160) (16,711)
Repurchase of common stock (48,369) (113,610)
Net cash used in financing activities (55,529) (130,273)
Effects of exchange rate changes on cash, cash equivalents and restricted cash (7,521) 0
Net decrease in cash, cash equivalents and restricted cash (82,919) (26,069)
Cash, cash equivalents and restricted cash, beginning of period 632,250 620,405
Cash, cash equivalents and restricted cash, end of period 549,331 594,336
Reconciliation of cash, cash equivalents and restricted cash to condensed consolidated balance sheets:    
Cash and cash equivalents 548,168 594,243
Restricted cash included in prepaid expenses and other current assets 1,160 3
Restricted cash included in other assets 3 90
Total cash, cash equivalents and restricted cash 549,331 594,336
Supplemental cash flow information:    
Cash paid for taxes 2,805 3,473
Non-cash investing and financing activities:    
Property and equipment purchases in accounts payable 1,752 110
Operating lease right-of-use assets obtained in exchange for operating lease obligations, net of modifications 0 1,474
Stock-based compensation capitalized as internal-use software 711 692
Excise tax liability accrued for common stock repurchased $ 332 $ 208
v3.26.1
Basis of Presentation and Summary of Significant Accounting Policies
 3 Months Ended
Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Presentation and Summary of Significant Accounting Policies
1. Basis of Presentation and Summary of Significant Accounting Policies
Basis of Presentation and Principles of Consolidation
The accompanying condensed consolidated financial statements of Freshworks Inc. and its subsidiaries have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP). All intercompany balances and transactions have been eliminated in consolidation.
The accompanying condensed consolidated balance sheet as of March 31, 2026, the condensed consolidated statements of operations, of comprehensive loss, of cash flows, and of stockholders’ equity for the three months ended March 31, 2026 and 2025, and the related notes to such condensed consolidated financial statements are unaudited. These unaudited condensed consolidated financial statements are presented in accordance with the rules and regulations of the U.S. Securities and Exchange Commission (SEC) and do not include all disclosures normally required in annual consolidated financial statements prepared in accordance with GAAP. In management’s opinion, the unaudited condensed consolidated financial statements have been prepared on a basis consistent with the annual consolidated financial statements and reflect all adjustments, which include only normal recurring adjustments, necessary for the fair statement of our financial position as of March 31, 2026 and our results of operations and cash flows for the three months ended March 31, 2026 and 2025. The results of operations for the three months ended March 31, 2026 are not necessarily indicative of the results to be expected for the full year or any other future interim or annual period.
The condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in our Annual Report on Form 10-K for the year ended December 31, 2025 which was filed with the SEC on February 26, 2026.
In January 2026, we acquired all outstanding shares of FireHydrant, Inc., an incident management software company, for $88.7 million. See Note 5 - Business Combinations.
Use of Estimates
The preparation of the condensed consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenue and expense during the reporting periods. Significant items subject to such estimates and assumptions include, but are not limited to, the following:
•determination of standalone selling price (SSP) for each distinct performance obligation included in customer contracts with multiple performance obligations;
•allowance for doubtful accounts;
•benefit period of deferred contract acquisition costs;
•capitalization of internal-use software development costs;
•fair value of goodwill;
•useful lives of long-lived assets, including intangible assets;
•valuation of deferred tax assets;
•valuation of employee defined benefit plan and other compensation liabilities;
•fair value of share-based awards; and
•incremental borrowing rate used for operating leases.
Concentrations of Risk
Financial instruments that potentially expose us to significant concentration of credit risk consist primarily of cash, cash equivalents, marketable securities, and accounts receivable. Our cash, cash equivalents and marketable securities are generally held with large financial institutions and are in excess of the federally insured limits provided on such deposits. In addition, we have cash and cash equivalents held in international bank accounts, which are denominated primarily in euros, British pounds, and Indian rupees.
There were no customers that individually exceeded 10% of our revenue for the three months ended March 31, 2026 and 2025 or that represented 10% or more of our consolidated accounts receivable balance as of March 31, 2026.
We primarily rely upon our third-party cloud infrastructure partner, Amazon Web Services, to serve customers and operate certain aspects of its services. Any disruption of this cloud infrastructure partner would impact our operations and our business could be adversely impacted.
Significant Accounting Policies
Our significant accounting policies are described in the Annual Report on Form 10-K for the year ended December 31, 2025. Except for the updated policy regarding credit losses described below, there have been no significant changes to these policies that have had a material impact on the condensed consolidated financial statements and the related notes for the three months ended March 31, 2026.
Accounts Receivable and Contract Assets
Effective January 1, 2026, we elected to apply the practical expedient provided by ASU 2025-05 to measure expected credit losses for qualifying current accounts receivable and contract assets and assume that current conditions as of the balance sheet date do not change for the remaining life of the asset. See "Recent Adopted Accounting Pronouncements" below for further details.
Recent Adopted Accounting Pronouncements
In July 2025, the FASB issued ASU 2025-05, Financial Instruments-Credit Losses: Measurement of Credit Losses for Accounts Receivable and Contract Assets, which provides a practical expedient to measure credit losses on current accounts receivable and current contract assets under Accounting Standards Codification 606, Revenue from Contracts with Customers. The practical expedient assumes that current conditions as of the balance sheet date do not change for the remaining life of the asset. Effective January 1, 2026, we adopted this guidance. The adoption of this standard did not have a material impact on our condensed consolidated financial statements and related disclosures.
Recent Accounting Pronouncements Not Yet Adopted
In December 2025, the FASB issued ASU 2025-11, Interim Reporting (Topic 270): Narrow-Scope Improvements, which clarifies that the interim reporting requirements in Topic 270 apply to all entities that issue interim financial statements prepared in accordance with U.S. GAAP and consolidates such requirements within Topic 270. The amendments provide a comprehensive list within Topic 270 of required interim disclosures, establish a principle requiring disclosure of events or changes occurring after the end of the most recent annual reporting period that have a material impact on interim results. and clarifies the form and content requirements applicable to interim financial statements. ASU 2025-11 will be effective for our interim periods starting January 1, 2028, with early adoption permitted. This guidance is only related to disclosure and is not expected to have a significant impact on our consolidated financial statements.
In September 2025, the Financial Accounting Standards Board (FASB) issued ASU 2025-06, Intangibles-Goodwill and Other-Internal-Use Software: Targeted Improvements to the Accounting for Internal-Use Software. ASU 2025‑06 updates guidance on accounting for software costs by aligning capitalization with when management commits to funding a project and completion is probable. Additionally, the ASU introduces new disclosure requirements, including significant judgments made in applying the guidance and the nature and amount of capitalized software costs. This guidance is effective for us starting in our annual and interim disclosures for periods starting January 1, 2028. Early adoption is permitted. We are currently assessing the impact of this update on our condensed consolidated financial statements, including which transition method to apply.
In November 2024, the FASB issued ASU No. 2024-03, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures. Additionally, in January 2025, the FASB issued ASU 2025-01 to clarify the effective date of ASU 2024-03. The standard provides guidance to expand disclosures related to the disaggregation of income statement expenses, which requires more detailed information about specified categories of expenses included in certain expense captions presented on the face of the income statement. This authoritative guidance is effective for us starting in our annual disclosures for 2027 and interim periods starting 2028. Early adoption is permitted. The amendments may be applied either (1) prospectively to financial statements issued for reporting periods after the effective date of this ASU or (2) retrospectively to all prior periods presented in the financial statements. This guidance is only related to disclosure and is not expected to have a significant impact on our condensed consolidated financial statements.
v3.26.1
Cash Equivalents and Investments
 3 Months Ended
Mar. 31, 2026
Investments, Debt and Equity Securities [Abstract]  
Cash Equivalents and Investments
2. Cash Equivalents and Investments
Cash equivalents and available-for-sale debt securities consisted of the following as of the periods presented below (in thousands):
March 31, 2026
Amortized CostUnrealized GainsUnrealized LossesFair Value
Cash equivalents:
Money market funds$359,980 $— $— $359,980 
U.S. treasury securities50,133 — (2)50,131 
U.S. government agency securities17,421 — (1)17,420 
Commercial paper
10,242 — — 10,242 
Fixed deposits
39,578 — — 39,578 
Total cash equivalents477,354 — (3)477,351 
Debt securities:
U.S. treasury securities96,273 11 (18)96,266 
U.S. government agency securities17,389 4 (9)17,384 
Corporate debt securities25,977 4 (13)25,968 
Commercial paper
5,274 — — 5,274 
Certificates of deposit
86,177 — — 86,177 
Total debt securities231,090 19 (40)231,069 
Total cash equivalents and debt securities$708,444 $19 $(43)$708,420 
December 31, 2025
Amortized CostUnrealized GainsUnrealized LossesFair Value
Cash equivalents:
Money market funds$120,923 $— $— $120,923 
U.S. treasury securities100,235 16 — 100,251 
U.S. government agency securities26,168 3 (1)26,170 
Corporate debt securities47,466 — — 47,466 
Fixed deposits129,875 — — 129,875 
Total cash equivalents424,667 19 (1)424,685 
Debt securities:
U.S. treasury securities131,286 102 (9)131,379 
U.S. government agency securities30,868 40 — 30,908 
Corporate debt securities36,878 69 (6)36,941 
Commercial paper
12,369 — — 12,369 
Total debt securities211,401 211 (15)211,597 
Total cash equivalents and debt securities$636,068 $230 $(16)$636,282 
The following table presents gross unrealized losses and fair values for the securities that were in a continuous unrealized loss position as of the periods presented below (in thousands):
March 31, 2026
Less than 12 monthsGreater than 12 monthsTotal
Fair ValueUnrealized LossFair ValueUnrealized LossFair ValueUnrealized Loss
U.S. treasury securities$69,813 $(18)$— $— $69,813 $(18)
U.S. government agency securities8,715 (9)— — 8,715 (9)
Corporate debt securities20,957 (13)— — 20,957 (13)
Total$99,485 $(40)$— $— $99,485 $(40)
December 31, 2025
Less Than 12 Months12 Months or GreaterTotal
Fair ValueUnrealized LossFair ValueUnrealized LossFair ValueUnrealized Loss
U.S. treasury securities$21,500 $(9)$— $— $21,500 $(9)
Corporate debt securities7,495 (6)— — 7,495 (6)
Total$28,995 $(15)$— $— $28,995 $(15)
The amortized cost and fair value of the available-for-sale debt securities based on contractual maturities are as follows (in thousands):
March 31, 2026
Amortized CostFair Value
Due within one year$214,598 $214,596 
Due after one year but within five years16,492 16,473 
Total$231,090 $231,069 
Accrued interest receivable of $1.1 million and $1.5 million was classified in prepaid expenses and other current assets in the condensed consolidated balance sheet as of March 31, 2026 and December 31, 2025, respectively.
v3.26.1
Fair Value Measurements
 3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Fair Value Measurements
3. Fair Value Measurements
We measure our financial assets at fair value each reporting period using a fair value hierarchy that prioritizes the use of observable inputs and minimizes the use of unobservable inputs when measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to measurements involving significant unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows:
Level 1—Inputs are observable and reflect quoted prices in active markets for identical assets or liabilities that we have the ability to access at the measurement date.
Level 2—Inputs other than quoted prices included within Level 1 that are observable, either directly or indirectly.
Level 3—Inputs that are unobservable.
Money market funds and U.S. treasury securities are classified within Level 1 because they are valued using quoted market prices or alternative pricing sources and models utilizing market observable inputs. Other debt securities and investments are classified within Level 2 if the investments are valued using model driven valuations which use observable inputs such as quoted market prices, benchmark yields, reported trades, broker/dealer quotes or alternative pricing sources with reasonable levels of price transparency. Available-for-sale debt securities are held by custodians who obtain investment prices from a third-party pricing provider that incorporates standard inputs in various asset price models.
We did not have any assets or liabilities subject to fair value remeasurement on a nonrecurring basis as of March 31, 2026 and December 31, 2025.
Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following table represents the fair value hierarchy for our financial assets measured at fair value on a recurring basis as of the periods presented below (in thousands):
March 31, 2026
Fair Value Measured Using
Level 1Level 2Total
Financial assets:
Cash equivalents:
Money market funds$359,980 $— $359,980 
U.S. treasury securities50,131 — 50,131 
U.S. government agency securities— 17,420 17,420 
Corporate debt securities
— 10,242 10,242 
Short term fixed deposits
— 39,578 39,578 
Marketable securities:
U.S. treasury securities96,266 — 96,266 
U.S. government agency securities— 17,384 17,384 
Corporate debt securities— 25,968 25,968 
Commercial paper
— 5,274 5,274 
Certificates of deposit
— 86,177 86,177 
Total financial assets$506,377 $202,043 $708,420 
December 31, 2025
Fair Value Measured Using
Level 1Level 2Total
Financial assets:
Cash equivalents:
Money market funds$120,923 $— $120,923 
U.S. treasury securities100,251 — 100,251 
U.S. government agency securities— 26,170 26,170 
Commercial paper— 47,466 47,466 
Fixed deposits— 129,875 129,875 
Marketable securities:
U.S. treasury securities131,379 — 131,379 
U.S. government agency securities— 30,908 30,908 
Corporate debt securities— 36,941 36,941 
Commercial paper— 12,369 12,369 
Total financial assets$352,553 $283,729 $636,282 
The fair value of derivative assets and liabilities as of March 31, 2026, and all related unrealized and realized gains and losses during the three months ended March 31, 2026, were not material. As of March 31, 2026 and December 31, 2025, the total notional amount of outstanding designated foreign currency forward contracts was $84.0 million and $86.7 million, respectively.
v3.26.1
Balance Sheet Components
 3 Months Ended
Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Balance Sheet Components
4. Balance Sheet Components
Property and Equipment, net
The following table summarizes property and equipment, net as of the periods presented below (in thousands):
March 31, 2026December 31, 2025
Computers$19,237 $18,835 
Capitalized internal-use software57,334 53,245 
Office equipment7,980 7,887 
Furniture and fixtures9,737 9,518 
Motor vehicles239 267 
Leasehold improvements8,918 8,994 
Construction in progress4,600 269 
Total property and equipment108,045 99,015 
Less: accumulated depreciation and amortization(63,823)(60,172)
Property and equipment, net$44,222 $38,843 
The following table summarizes depreciation expense and internal-use software capitalization and amortization during the periods presented below (in thousands):
Three Months Ended March 31,
20262025
Capitalization of costs associated with internal-use software
$4,090 $3,464 
Amortization expense of capitalized internal-use software
2,507 1,639 
Depreciation expense
$1,173 $1,207 
As of March 31, 2026 and December 31, 2025, the net carrying value of capitalized internal-use software was $27.6 million and $26.1 million, respectively.
Accrued Liabilities
The following table summarizes accrued liabilities as of the periods presented below (in thousands):
March 31, 2026December 31, 2025
Accrued compensation$23,577 $28,233 
Acquisition-related liabilities9,043 — 
Accrued third-party cloud infrastructure expenses5,612 5,922 
Accrued reseller commissions10,961 11,512 
Accrued advertising and marketing expenses7,921 7,835 
Advanced payments from customers5,783 6,097 
Accrued taxes17,004 14,499 
Operating lease liabilities, current9,393 9,221 
Contributions withheld for employee stock purchase plan3,017 1,198 
Income tax payable
698 3,571 
Other accrued expenses16,396 13,114 
Total accrued liabilities$109,405 $101,202 
Noncurrent liabilities include $19.5 million and $21.1 million of long term accrued compensation as of March 31, 2026 and December 31, 2025, respectively.
v3.26.1
Business Combinations
 3 Months Ended
Mar. 31, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Business Combinations
5. Business Combinations
On January 1, 2026, we acquired all outstanding shares of FireHydrant, Inc., an incident management software company, for $88.7 million in cash, including $4.3 million of cash acquired, to expand its IT service and operations portfolio. As of March 31, 2026, $9.0 million in unpaid indemnity and purchase price adjustment holdbacks were recorded within accrued liabilities in our condensed consolidated balance sheets. The purchase price is subject to customary post-closing adjustments and conditions.
All existing FireHydrant stock options were canceled, and we issued new time-based and performance-based RSUs to certain continuing employees under our 2021 Equity Incentive Plan. These awards were excluded from the purchase consideration and will be recognized as post-combination compensation expense over their requisite service periods. Refer to Note 11—Stockholders' Equity and Stock-Based Compensation.
The following table summarizes the preliminary fair value of assets acquired and liabilities assumed as of the date of acquisition:
Amount
(in thousands)
Assets acquired:
Cash and cash equivalents
$4,349 
Other current assets
1,928 
Customer relationship
13,200 
Developed technology
10,700 
Goodwill
52,648 
Deferred tax assets
13,084 
Total
$95,909 
Liabilities assumed:
Current liabilities
$7,172 
Total
$7,172 
Total purchase price consideration
$88,737 
The assets acquired and liabilities assumed were recognized at their estimated acquisition-date fair values, with goodwill representing the excess of the purchase price over the fair value of the net identifiable assets acquired. Goodwill includes the fair value of assets that were not identifiable and as such, not separately recognizable. Goodwill recognized from the transaction is not deductible for U.S. income tax purposes and primarily reflects expected synergies from FireHydrant’s customer base and technology.
The Company expects to finalize the purchase price allocation within the measurement period, but not later than one year from the acquisition date. The fair values assigned to assets acquired and liabilities assumed are based on management’s best estimates and assumptions as of the acquisition date and are considered preliminary pending finalization of the valuation pertaining to intangible assets acquired, deferred tax assets and liabilities assumed.
Customer relationships and developed technology were valued using the income approach and will be amortized on a straight-line basis over their estimated lives of 7 years.
FireHydrant's operating results are included in our condensed consolidated financial statements from the acquisition date and are not material to our financial results, as well as any transaction costs associated with the acquisition.
v3.26.1
Goodwill and Intangible Assets, Net
 3 Months Ended
Mar. 31, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets, Net
6. Goodwill and Intangible Assets, Net
The change in the carrying amounts of goodwill during the three months ended March 31, 2026 is presented below (in thousands):
Balance as of December 31, 2025$146,676 
Goodwill acquired (Note 5)
52,648 
Balance as of March 31, 2026$199,324 
Acquired intangible assets consist of developed technology, customer relationships and trademarks and are amortized on a straight-line basis over their estimated useful lives. The following tables summarize acquired intangible assets as of the periods presented below:

March 31, 2026
Gross AmountAccumulated AmortizationNet Carrying ValueWeighted Average Remaining Useful Life
(amounts in thousands)(in years)
Developed technology$51,896 $(20,172)$31,724 5.0
Customer relationships82,400 (17,421)64,979 6.3
Trademarks
700 (700)— — 
Total$134,996 $(38,293)$96,703 

December 31, 2025
Gross AmountAccumulated AmortizationNet Carrying ValueWeighted Average Remaining Useful Life
(amounts in thousands)(in years)
Developed technology$41,196 $(18,535)$22,661 4.4
Customer relationships69,200 (14,875)54,325 6.4
Trademarks
700 (700)— — 
Total$111,096 $(34,110)$76,986 
Amortization of acquired intangible assets is as follows (in thousands):
Three Months Ended March 31,
20262025
Cost of revenue$1,637 $1,260 
Sales and marketing2,546 2,254 
Total amortization expense$4,183 $3,514 
As of March 31, 2026, expected future amortization expense related to acquired intangible assets is as follows (in thousands):
Year Ending December 31,Amortization Expense
Remainder of 2026$12,782 
202716,965 
202817,011 
202916,965 
203014,052 
Thereafter
18,928 
Total future amortization$96,703 
v3.26.1
Leases
 3 Months Ended
Mar. 31, 2026
Leases [Abstract]  
Leases
7. Leases
We have operating leases primarily for office space. The leases have remaining lease terms of one to six years, some of which include options to extend the lease for up to an additional six years. Our leases do not contain any residual value guarantee.
The following table presents various components of the lease costs (in thousands):
Operating LeasesThree Months Ended March 31,
20262025
Operating lease cost$3,756 $3,108 
Short-term lease cost356 130 
Variable lease cost958 1,303 
    Total lease cost
$5,070 $4,541 
The weighted-average remaining term of our operating leases and the weighted-average discount rate used to measure the present value of the operating lease liabilities are as follows:
Lease Term and Discount RateMarch 31, 2026March 31, 2025
Weighted-average remaining lease term (in years)3.74.2
Weighted-average discount rate8.3 %9.0 %
The following table presents supplemental information arising from lease transactions. Cash payments related to short-term leases are not included in the measurement of the operating lease liabilities, and as such, are excluded from the amounts below (in thousands):
Three Months Ended March 31,
Supplemental Cash Flow Information:20262025
Cash payments included in the measurement of operating lease liabilities, net of tenant allowance receipts
$3,297 $1,037 
As of March 31, 2026, maturities of the operating lease liabilities are as follows (in thousands):
Operating Leases
Remainder of 2026$8,574 
202713,110 
202811,809 
20295,966 
20303,504 
Thereafter2,513 
Total lease payments45,476 
Less: imputed interest(6,681)
Present value of operating lease liabilities$38,795 
As of March 31, 2026, there were $6.4 million future payments related to signed leases that have not yet commenced.
v3.26.1
Commitments and Contingencies
 3 Months Ended
Mar. 31, 2026
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies
8. Commitments and Contingencies
Other Contractual Commitments
Our other contractual commitments primarily consist of third-party cloud infrastructure agreements, service subscription purchase arrangements used to support operations at the enterprise level, and sponsorship arrangement to promote our brand and services. As of March 31, 2026, other contractual commitments totaling $217.9 million remain outstanding under these agreements through 2029.
Litigation and Loss Contingencies
On November 1, 2022, a purported Company stockholder filed a securities class action complaint in the U.S. District Court for the Northern District of California against us, certain of our current officers and directors, and underwriters of our initial public offering (IPO). On February 8, 2023, the court-appointed lead plaintiff and lead counsel. On April 14, 2023, lead plaintiff filed an amended complaint. The amended complaint alleges that defendants violated Sections 11, 12(a)(2), and 15 of the Securities Act of 1933 by making material misstatements or omissions in offering documents filed in connection with our IPO. The amended complaint seeks unspecified damages, interest, fees, costs, and rescission on behalf of purchasers and/or acquirers of common stock issued in our IPO. On September 28, 2023, the court issued an order granting in part and denying in part defendants' motion to dismiss. On January 16, 2025, we filed a motion for summary judgment, which the court granted and entered
judgment in our and the other defendants’ favor on April 10, 2025. Plaintiff has appealed the judgment, and we continue to vigorously defend against the claims in this action.
On March 20, 2023, a purported stockholder derivative complaint was filed in the U.S. District Court for the Northern District of California. The complaint names as defendants our current directors, as well as Freshworks, as nominal defendant, and asserts state and federal claims based on some of the same alleged misstatements as the securities class action complaint. The derivative complaint seeks unspecified damages, attorneys’ fees, and other costs. On June 21, 2023, the court stayed the case in light of the pending securities class action. On October 16, 2023, the court extended the stay of the case in light of the pending securities class action. We and the other defendants continue to vigorously defend against the claims in this action.
From time to time, we have been and may be in the future subject to other legal proceedings, claims, investigations, and government inquiries (collectively, legal proceedings) in the ordinary course of business. We have received and may receive claims from third parties asserting, among other things, infringement of their intellectual property rights, defamation, labor and employment rights, privacy, and contractual rights. There are no currently pending legal proceedings that we believe will have a material adverse impact on our business or condensed consolidated financial statements.
Indemnifications
In the ordinary course of business, we enter into contractual arrangements under which we agree to provide indemnification of varying scope and terms to customers, business partners, and other parties with respect to certain matters, including losses arising out of intellectual property infringement claims made by third parties, if we have violated applicable laws, if we are negligent or commit acts of willful misconduct, and other liabilities with respect to our products and services and our business. In these circumstances, payment is typically conditional on the other party making a claim pursuant to the procedures specified in the particular contract. We also indemnify certain of our officers, directors and certain key employees while they are serving in good faith in their respective capacities. To date, we have not incurred any material costs as a result of such indemnifications and have not accrued any liabilities related to such obligations in its condensed consolidated financial statements.
v3.26.1
Revenue From Contracts with Customers
 3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Revenue From Contracts with Customers
9. Revenue From Contracts with Customers
We primarily derive revenue from subscription fees and related professional services, as well as through sale of software licenses with associated maintenance and professional services.
We sell subscriptions and software licenses directly to customers and indirectly through channel partners with arrangements that are non-cancelable and non-refundable. Our subscription arrangements do not provide customers with the right to take possession of the software supporting the solutions and, as a result, are accounted for as service arrangements. Subscription revenue is recognized ratably over the contract term when the cloud-based software is made available to customers.
Software license revenue is generally sold as bundled arrangements that include the rights to a software license and maintenance and cloud-based software in some cases. Revenue from the software license is recognized when the software is made available to the customer and maintenance revenue is recognized as support and updates are provided, which is generally ratably over the contract term.
Professional services revenue is comprised of fees charged for services ranging from product configuration, data migration, systems integration, and training. We recognize professional services revenues as services are performed.
We record revenue net of sales or value-added taxes.
Disaggregation of Revenue
The following table summarizes revenue by our product and service offerings during the periods presented (in thousands):
Three Months Ended March 31,
20262025
Subscription services, software licenses and maintenance
226,513 $194,193 
Professional services2,120 2,080 
Total revenue$228,633 $196,273 
See Note 10 for revenue by geographic location.
Unbilled Receivables, Deferred Revenue and Remaining Performance Obligations
Unbilled receivables primarily represent revenue recognized in excess of billings from non-cancellable multi-year contract arrangements. As of March 31, 2026 and December 31, 2025, we had $8.9 million and $9.8 million of unbilled receivables, respectively. Unbilled receivables are included within accounts receivable, net on the condensed consolidated balance sheets.
Deferred revenue consists of customer billings in excess of revenue being recognized. As of March 31, 2026 and December 31, 2025, non-current deferred revenue of $2.9 million and $3.1 million, respectively, was included in other liabilities on the condensed consolidated balance sheet.
Revenue recognized during the three months ended March 31, 2026 and 2025 from amounts included in deferred revenue at the beginning of these periods was $166.0 million and $144.5 million, respectively.
The aggregate balance of remaining performance obligations as of March 31, 2026 was $665.3 million. We expect to recognize $481.5 million of the balance as revenue in the next 12 months and the remainder thereafter. The aggregate balance of remaining performance obligations represents contracted revenue that has not yet been recognized, which includes unearned revenue and unbilled amounts that will be recognized as revenue in future periods.
Deferred Contract Acquisition Costs
The change in the balance of deferred contract acquisition costs during the periods presented is as follows (in thousands):
Three Months Ended March 31,
20262025
Balance at beginning of the period$57,009 $48,640 
Add: Contract costs capitalized during the period10,197 8,704 
Less: Amortization of contract costs during the period(8,567)(7,583)
Balance at end of the period$58,639 $49,761 
v3.26.1
Segment and Geographic Information
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment and Geographic Information
10. Segment and Geographic Information
We operate in a single operating segment composed of the condensed consolidated financial results of Freshworks. Our Chief Executive Officer (CEO) is the chief operating decision maker (CODM) of Freshworks and the key measures of segment profit or loss that our CODM uses to allocate resources and assess performance is our revenue and consolidated net loss. Significant segment expenses reviewed by our CODM for our single operating segment comprise of stock-based compensation, amortization of acquired intangible assets, and other segment expenses. Other segment expenses utilize operating expenses recognized as research and development, selling and marketing, and general and administrative expenses within our condensed consolidated statement of operations less stock-based compensation and amortization of acquired intangible assets, and primarily related to personnel-related
costs. Refer to Note 11—Stockholders' Equity and Stock-Based Compensation and Note 6—Goodwill and Intangible Assets, Net for information regarding amounts pertaining to stock-based compensation and amortization of acquired intangibles.
Revenue by geographic location is determined based on the customers' billing address. The following table summarizes revenue by geographic region (in thousands):
Three Months Ended March 31,
20262025
North America$107,540 $91,471 
Europe, Middle East and Africa88,627 75,810 
Asia Pacific25,865 23,354 
Other6,601 5,638 
Total revenue$228,633 $196,273 
Revenue from North America consists primarily of revenue from the United States. For the three months ended March 31, 2026 and 2025, revenue generated from the United States was approximately $96.5 million and $82.4 million, or approximately 42% and 42% of total consolidated revenue, respectively.
The United Kingdom, included within Europe, Middle East and Africa in the table above, contributed $30.2 million and $27.2 million, or approximately 13% and 14% of total consolidated revenue for the three months ended March 31, 2026 and 2025, respectively.
Long-lived assets consist primarily of property, plant and equipment and ROU assets. The following table summarizes long-lived assets by geographic information (in thousands):
March 31, 2026December 31, 2025
North America$41,872 $39,747 
Europe, Middle East and Africa5,788 6,383 
Asia Pacific33,530 32,606 
Total long-lived assets$81,190 $78,736 
Long-lived assets in North America are primarily located in the United States, and long-lived assets in Asia Pacific are primarily located in India.
v3.26.1
Stockholders' Equity and Stock-Based Compensation
 3 Months Ended
Mar. 31, 2026
Equity [Abstract]  
Stockholders' Equity and Stock-Based Compensation
11. Stockholders' Equity and Stock-Based Compensation
Share Repurchase
In November 2024, our board of directors (the Board) approved a share repurchase program ("2024 Share Repurchase Program"), which authorized the repurchase of up to $400 million of our outstanding Class A common stock. During the three months ended March 31, 2025 we repurchased a total of 6,732,390 shares of Class A common stock under the 2024 Share Repurchase Program in open market transactions for an aggregate purchase price of $111.8 million, resulting in an average price of $16.60 per share. The 2024 Share Repurchase Program was completed during the year ended December 31, 2025.
In February 2026, the Board approved another share repurchase program ("2026 Share Repurchase Program"), which authorized the repurchase of up to $400 million of our outstanding Class A common stock. During the three months ended March 31, 2026 we repurchased a total of 5,697,636 shares of Class A common stock under the 2026 Share Repurchase Program in open market transactions for an aggregate purchase price of $45.4 million, resulting in an average price of $7.97 per share. As of March 31, 2026, $354.6 million remained available for future repurchases under the 2026 Share Repurchase Program.
Under both repurchase programs, all shares of Class A common stock subsequently repurchased were retired. Upon retirement, the par value of the common stock repurchased was deducted from common stock and any excess of repurchase price over par value was recorded entirely to additional-paid-in capital, or in the absence of additional-paid-in capital, to accumulated deficit, in the condensed consolidated balance sheets.
Equity Compensation Plans
Pursuant to the 2021 Equity Incentive Plan (the 2021 Plan), the Board may grant incentive stock options to purchase shares of our common stock, non-statutory stock options to purchase shares of our common stock, stock appreciation rights, restricted stock, restricted stock units (RSUs), performance restricted stock units (PRSUs) and other awards. The 2021 Employee Stock Purchase Plan (ESPP) enables eligible employees to purchase shares of our Class A common stock. Both the 2021 Plan and ESPP include an automatic increase to their shares reserve on January 1 of each year as set forth in the respective plan documents.
Additionally, pursuant to the 2022 Inducement Plan (the Inducement Plan) in accordance with Listing Rule 5635(c)(4) of the Nasdaq Stock Market, nonstatutory stock options, stock appreciation rights, restricted stock, RSUs, PRSUs and other awards may be granted as an inducement material to an eligible person's entering into employment with us.
Shares of common stock reserved for future issuance were as follows (in thousands):
March 31, 2026
2021 Equity Incentive Plan(1)
87,775 
2022 Inducement Plan7,012 
2021 Employee Stock Purchase Plan18,255 
Total shares of common stock reserved for issuance113,042 
(1)Outstanding shares include the 2026 Executive PRSUs as discussed below, based on 100% achievement of target performance.

2021 Employee Stock Purchase Plan
Under the ESPP, the price at which common stock is purchased is equal to 85% of the fair market value of a share of our common stock on the first day of the offering period or the applicable purchase date, whichever is lower. The fair market value of common stock will generally be the closing sales price on the determination date. The ESPP provides an offering period of 24 months, with four purchase periods that are generally six months long and end on May 15 and November 15 of each year.
The ESPP also includes a reset provision for the purchase price if the fair market value of a share of our common stock on the first day of any purchase period is less than or equal to the fair market value of a share of our common stock on the first day of an ongoing offering. If the reset provision is triggered, a new 24-month offering period begins. Each triggering of the reset provision was considered a modification in accordance with ASC 718, Stock Based Compensation, with the modification charge recognized on a straight-line basis over the new offering period. Historically, the reset provision has been triggered by stock price declines, and the resulting modification have not been material on our stock-based compensation expense.
Stock-based compensation expense related to the ESPP was $1.0 million and $0.9 million for the three months ended March 31, 2026 and 2025, respectively.
Stock Options
Stock options are generally granted with an exercise price equal to the fair market value of a share of common stock on the date of grant, have a 10-year contractual term, and vest over a four-year period.
Stock option activity for the three months ended March 31, 2026 is as follows (in thousands, except per share data):
Share Information:Number of Shares (in thousands)Weighted-Average Exercise PriceWeighted-Average Remaining Contractual Term (in years)
Aggregate Intrinsic Value (in thousands) (1)
Balance as of December 31, 20252,332 $11.32 7.1$4,650 
Balance as of March 31, 20262,332 $11.32 6.8$5,021 
Options vested and expected to vest as of March 31, 20262,332 $11.32 6.8$5,021 
Options exercisable as of March 31, 20261,593 $13.58 6.4$52 
(1)Aggregate intrinsic value for stock options represents the difference between the exercise price and the per share fair value of our common stock as of the end of the period, multiplied by the number of stock options outstanding, exercisable, or vested.

Restricted Stock Units
RSUs are granted at fair market value as of the date of the grant and typically vest over a four-year period.
RSU activity, which includes PRSUs, during the three months ended March 31, 2026 was as follows:
Share Information:Number of SharesWeighted-Average Grant Date Fair Value Per Share
Unvested, as of December 31, 202521,936 $14.98 
Granted
18,531 $11.19 
Vested (1)
(1,983)$15.87 
Forfeited/Cancelled
(1,783)$13.62 
Unvested, as of March 31, 2026
36,701 $13.09 
(1) During the three months ended March 31, 2026, total shares that vested were 2.0 million, of which 0.7 million were withheld for tax purposes.


The total fair value of vested RSUs during the three months ended March 31, 2026 and 2025 was $31.5 million and $55.6 million, respectively.
Performance-Based Awards
Executive PRSUs
Beginning in 2024, certain members of the executive team were granted PRSUs awards (the "Executive PRSUs"). The Executive PRSUs are granted annually in the first quarter, are subject to service and performance-based vesting conditions and vest over three years from the grant date. The PRSUs granted in 2026 have fiscal 2026 revenue and non-GAAP operating income performance targets with 70% and 30% of each award tied to these targets, respectively. The 2026 performance targets can be earned from 0% up to a maximum of 173.6% of target shares for significant outperformance.
The fair value of each PRSU is based on the fair value of our common stock on the date of grant. Stock-based compensation associated with the Executive PRSUs is recognized using the accelerated attribution method over the requisite service period, based on our periodic assessment of the probability that the performance will be achieved.
During the three months ended March 31, 2026 and 2025, we recognized $3.9 million and $1.9 million of stock-based compensation expense related to Executive PRSUs, respectively.
Stock-Based Compensation
Total stock-based compensation expense recorded for the three months ended March 31, 2026 and 2025 was as follows (in thousands):
Three Months Ended March 31,
20262025
Cost of revenue$1,618 $1,518 
Research and development(1)
12,301 9,213 
Sales and marketing
13,000 13,409 
General and administrative(2)
17,002 27,524 
Stock-based compensation, net of amounts capitalized43,921 51,664 
Capitalized stock-based compensation711 692 
Total stock-based compensation expense
$44,632 $52,356 
(1)     Stock-based compensation expense recorded to research and development in the condensed consolidated statements of operations excludes amounts that were capitalized primarily for internal-use software.
(2)    General and administrative expense includes stock-based compensation associated with RSUs and PRSUs granted to our former Executive Chairman of $11.3 million for the three months ended March 31, 2025.

As of March 31, 2026, unrecognized stock-based compensation expense related to unvested stock-based awards was as follows (in thousands, except for period data):
March 31, 2026
Unrecognized Stock-Based CompensationWeighted-Average Period to Recognize Expense
(in years)
RSUs and PRSUs$428,149 3.0
Stock options1,740 0.3
ESPP4,831 1.0
Total unrecognized stock-based compensation expense$434,720 
v3.26.1
Income Taxes
 3 Months Ended
Mar. 31, 2026
Income Tax Disclosure [Abstract]  
Income Taxes
12. Income Taxes
The quarterly tax provision and estimates of annual effective tax rate are affected by several factors, including changes in pre-tax income (or loss), the mix of jurisdictions to which such income relates, and discrete items (such as windfalls or shortfalls from stock-based compensation). The provision for (benefit from) income taxes was $(1.8) million and $3.9 million for the three months ended March 31, 2026 and 2025, retrospectively.
The effective tax rate for the three months ended March 31, 2026 and 2025 were 27.5% and 151.1%, respectively. The effective tax rate for the first quarter of 2026 is lower than the first quarter of 2025 because the full valuation allowance on U.S. federal and state deferred tax assets was released in the fourth quarter of 2025.
v3.26.1
Net Loss Per Share
 3 Months Ended
Mar. 31, 2026
Earnings Per Share [Abstract]  
Net Loss Per Share
13. Net Loss Per Share
Basic net loss per share attributable to common stockholders is computed by dividing the net loss by the number of weighted-average outstanding shares of common stock. Diluted net loss per share attributable to common stockholders is determined by giving effect to all potential common equivalents during the reporting period, unless including them yields an antidilutive result. We consider our stock options and RSUs as potential common stock equivalents, but excluded them from the computation of diluted net loss per share attributable to common stockholders for the three months ended March 31, 2026 and 2025, as their effect was antidilutive.
The rights, including the liquidation and dividend rights, of the holders of Class A and Class B common stock are identical, except with respect to voting, conversion, and transfer rights. As the liquidation and dividend rights are identical, the undistributed earnings are allocated on a proportionate basis to each class of common stock and the resulting basic and diluted net loss per share attributable to common stockholders, are the same for both Class A and Class B common stock on both an individual and combined basis.
The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders (in thousands, except per share data):
Three Months Ended March 31,
20262025
Numerator:
Net loss$(4,810)$(1,304)
Denominator:
Weighted-average number of shares - basic and diluted
283,336 301,280 
Net loss per share - basic and diluted
$(0.02)$— 
The following table summarizes the potential common equivalents that were excluded from the computation of diluted net loss per share attributable to Class A and Class B common stockholders for the periods presented (in thousands):
Three Months Ended March 31,
20262025
RSUs and PRSUs
36,701 24,193 
Options
2,332 2,422 
ESPP
442 245 
Total
39,475 26,860 
v3.26.1
Subsequent Events
 3 Months Ended
Mar. 31, 2026
Subsequent Events [Abstract]  
Subsequent Events
14. Subsequent Events
Restructuring
In May 2026, the Company committed to a restructuring plan (the Plan) to streamline the Company’s organizational efforts and product development process, as well as increase leverage of AI and automation across the business. The Company estimates that this will result in approximately 11% reduction in headcount and approximately $7 million to $9 million in charges in the second quarter of 2026, consisting primarily of cash expenditures for separation-related payments, employee benefits and related costs. The Company expects that the Plan, including related cash payments, will be substantially complete by the end of the second quarter ending June 30, 2026.
v3.26.1
Insider Trading Arrangements
 3 Months Ended
Mar. 31, 2026
shares
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement
During the three months ended March 31, 2026, our officers (as defined in Rule 16a-1(f) under the Exchange Act) and directors adopted or terminated the contracts, instructions or written plans for the purchase or sale of the Company's securities, each of which is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act, as set forth in the table below.
NameTitleActionAdoption DateExpiration DateTotal number of shares of Class A common stock to be sold
Philippa LawrenceChief Accounting Officer
Adoption (1)
March 20, 2026March 30, 2027
Up to 212,209 shares(2)
Jennifer TaylorDirector
Adoption (1)
March 20, 2026January 2, 2027
Up to 6,618 shares
Ian TickleChief Revenue OfficerAdoptionMarch 18, 2026December 31, 2026
Up to 209,434 shares (3)
(1) Plan adopted in accordance with Rule 10b5-1(c)(1)(ii)(D)(2).
(2) The shares that may be sold under the Rule 10b5-1 trading plan include (i) up to 62,201 shares of our Class A Common Stock currently owned by Ms. Lawrence, (ii) all shares to be acquired by Ms. Lawrence under the Company's Employee Stock Purchase Plan on or prior to November 15, 2026, and (iii) up to 150,008 shares of our Class A Common Stock that are subject to restricted stock unit awards previously granted to Ms. Lawrence that may vest and be released to Ms. Lawrence on or prior to March 1, 2027 (subject to the satisfaction of the applicable service-based vesting conditions). The actual number of shares that will be released to Ms. Lawrence pursuant to the restricted stock unit awards and sold under the Rule 10b5-1 trading arrangement will be net of the number of shares withheld to satisfy tax withholding obligations arising from the vesting of such shares and is not yet determinable. The actual number of shares that will be subject to the Rule 10b5-1 trading plan is not yet determinable.
(3) The shares that may be sold under the Rule 10b5-1 trading plan include (i) up to 74,000 shares of our Class A Common Stock currently owned by Mr. Tickle, and (ii) up to 135,434 shares of our Class A Common Stock that are subject to restricted stock unit awards previously granted to Mr. Tickle that may vest and be released to Mr. Tickle on or prior to October 6, 2026 (subject to the satisfaction of the applicable service-based vesting conditions). The actual number of shares that will be released to Mr. Tickle pursuant to the restricted stock unit awards and sold under the Rule 10b5-1 trading arrangement will be net of the number of shares withheld to satisfy tax withholding obligations arising from the vesting of such shares and is not yet determinable. The actual number of shares that will be subject to the Rule 10b5-1 trading plan is not yet determinable.
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
Philippa Lawrence [Member]  
Trading Arrangements, by Individual  
Name Philippa Lawrence
Title Chief Accounting Officer
Rule 10b5-1 Arrangement Adopted true
Adoption Date March 20, 2026
Expiration Date March 30, 2027
Arrangement Duration 375 days
Aggregate Available 212,209
Jennifer Taylor [Member]  
Trading Arrangements, by Individual  
Name Jennifer Taylor
Title Director
Rule 10b5-1 Arrangement Adopted true
Adoption Date March 20, 2026
Expiration Date January 2, 2027
Arrangement Duration 288 days
Aggregate Available 6,618
Ian Tickle [Member]  
Trading Arrangements, by Individual  
Name Ian Tickle
Title Chief Revenue Officer
Rule 10b5-1 Arrangement Adopted true
Adoption Date March 18, 2026
Expiration Date December 31, 2026
Arrangement Duration 288 days
Aggregate Available 209,434
v3.26.1
Basis of Presentation and Summary of Significant Accounting Policies (Policies)
 3 Months Ended
Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Presentation
The accompanying condensed consolidated financial statements of Freshworks Inc. and its subsidiaries have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP). All intercompany balances and transactions have been eliminated in consolidation.
Principles of Consolidation
The accompanying condensed consolidated balance sheet as of March 31, 2026, the condensed consolidated statements of operations, of comprehensive loss, of cash flows, and of stockholders’ equity for the three months ended March 31, 2026 and 2025, and the related notes to such condensed consolidated financial statements are unaudited. These unaudited condensed consolidated financial statements are presented in accordance with the rules and regulations of the U.S. Securities and Exchange Commission (SEC) and do not include all disclosures normally required in annual consolidated financial statements prepared in accordance with GAAP. In management’s opinion, the unaudited condensed consolidated financial statements have been prepared on a basis consistent with the annual consolidated financial statements and reflect all adjustments, which include only normal recurring adjustments, necessary for the fair statement of our financial position as of March 31, 2026 and our results of operations and cash flows for the three months ended March 31, 2026 and 2025. The results of operations for the three months ended March 31, 2026 are not necessarily indicative of the results to be expected for the full year or any other future interim or annual period.
The condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in our Annual Report on Form 10-K for the year ended December 31, 2025 which was filed with the SEC on February 26, 2026.
In January 2026, we acquired all outstanding shares of FireHydrant, Inc., an incident management software company, for $88.7 million. See Note 5 - Business Combinations.
Use of Estimates
Use of Estimates
The preparation of the condensed consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenue and expense during the reporting periods. Significant items subject to such estimates and assumptions include, but are not limited to, the following:
•determination of standalone selling price (SSP) for each distinct performance obligation included in customer contracts with multiple performance obligations;
•allowance for doubtful accounts;
•benefit period of deferred contract acquisition costs;
•capitalization of internal-use software development costs;
•fair value of goodwill;
•useful lives of long-lived assets, including intangible assets;
•valuation of deferred tax assets;
•valuation of employee defined benefit plan and other compensation liabilities;
•fair value of share-based awards; and
•incremental borrowing rate used for operating leases.
Concentrations of Risk
Concentrations of Risk
Financial instruments that potentially expose us to significant concentration of credit risk consist primarily of cash, cash equivalents, marketable securities, and accounts receivable. Our cash, cash equivalents and marketable securities are generally held with large financial institutions and are in excess of the federally insured limits provided on such deposits. In addition, we have cash and cash equivalents held in international bank accounts, which are denominated primarily in euros, British pounds, and Indian rupees.
There were no customers that individually exceeded 10% of our revenue for the three months ended March 31, 2026 and 2025 or that represented 10% or more of our consolidated accounts receivable balance as of March 31, 2026.
We primarily rely upon our third-party cloud infrastructure partner, Amazon Web Services, to serve customers and operate certain aspects of its services. Any disruption of this cloud infrastructure partner would impact our operations and our business could be adversely impacted.
Accounts Receivable and Contract Assets
Accounts Receivable and Contract Assets
Effective January 1, 2026, we elected to apply the practical expedient provided by ASU 2025-05 to measure expected credit losses for qualifying current accounts receivable and contract assets and assume that current conditions as of the balance sheet date do not change for the remaining life of the asset. See "Recent Adopted Accounting Pronouncements" below for further details.
Recent Adopted Accounting Pronouncements and Recent Accounting Pronouncements Not Yet Adopted
Recent Adopted Accounting Pronouncements
In July 2025, the FASB issued ASU 2025-05, Financial Instruments-Credit Losses: Measurement of Credit Losses for Accounts Receivable and Contract Assets, which provides a practical expedient to measure credit losses on current accounts receivable and current contract assets under Accounting Standards Codification 606, Revenue from Contracts with Customers. The practical expedient assumes that current conditions as of the balance sheet date do not change for the remaining life of the asset. Effective January 1, 2026, we adopted this guidance. The adoption of this standard did not have a material impact on our condensed consolidated financial statements and related disclosures.
Recent Accounting Pronouncements Not Yet Adopted
In December 2025, the FASB issued ASU 2025-11, Interim Reporting (Topic 270): Narrow-Scope Improvements, which clarifies that the interim reporting requirements in Topic 270 apply to all entities that issue interim financial statements prepared in accordance with U.S. GAAP and consolidates such requirements within Topic 270. The amendments provide a comprehensive list within Topic 270 of required interim disclosures, establish a principle requiring disclosure of events or changes occurring after the end of the most recent annual reporting period that have a material impact on interim results. and clarifies the form and content requirements applicable to interim financial statements. ASU 2025-11 will be effective for our interim periods starting January 1, 2028, with early adoption permitted. This guidance is only related to disclosure and is not expected to have a significant impact on our consolidated financial statements.
In September 2025, the Financial Accounting Standards Board (FASB) issued ASU 2025-06, Intangibles-Goodwill and Other-Internal-Use Software: Targeted Improvements to the Accounting for Internal-Use Software. ASU 2025‑06 updates guidance on accounting for software costs by aligning capitalization with when management commits to funding a project and completion is probable. Additionally, the ASU introduces new disclosure requirements, including significant judgments made in applying the guidance and the nature and amount of capitalized software costs. This guidance is effective for us starting in our annual and interim disclosures for periods starting January 1, 2028. Early adoption is permitted. We are currently assessing the impact of this update on our condensed consolidated financial statements, including which transition method to apply.
In November 2024, the FASB issued ASU No. 2024-03, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures. Additionally, in January 2025, the FASB issued ASU 2025-01 to clarify the effective date of ASU 2024-03. The standard provides guidance to expand disclosures related to the disaggregation of income statement expenses, which requires more detailed information about specified categories of expenses included in certain expense captions presented on the face of the income statement. This authoritative guidance is effective for us starting in our annual disclosures for 2027 and interim periods starting 2028. Early adoption is permitted. The amendments may be applied either (1) prospectively to financial statements issued for reporting periods after the effective date of this ASU or (2) retrospectively to all prior periods presented in the financial statements. This guidance is only related to disclosure and is not expected to have a significant impact on our condensed consolidated financial statements.
Fair Value Measurements
We measure our financial assets at fair value each reporting period using a fair value hierarchy that prioritizes the use of observable inputs and minimizes the use of unobservable inputs when measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to measurements involving significant unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows:
Level 1—Inputs are observable and reflect quoted prices in active markets for identical assets or liabilities that we have the ability to access at the measurement date.
Level 2—Inputs other than quoted prices included within Level 1 that are observable, either directly or indirectly.
Level 3—Inputs that are unobservable.
Money market funds and U.S. treasury securities are classified within Level 1 because they are valued using quoted market prices or alternative pricing sources and models utilizing market observable inputs. Other debt securities and investments are classified within Level 2 if the investments are valued using model driven valuations which use observable inputs such as quoted market prices, benchmark yields, reported trades, broker/dealer quotes or alternative pricing sources with reasonable levels of price transparency. Available-for-sale debt securities are held by custodians who obtain investment prices from a third-party pricing provider that incorporates standard inputs in various asset price models.
Revenue From Contracts with Customers
We primarily derive revenue from subscription fees and related professional services, as well as through sale of software licenses with associated maintenance and professional services.
We sell subscriptions and software licenses directly to customers and indirectly through channel partners with arrangements that are non-cancelable and non-refundable. Our subscription arrangements do not provide customers with the right to take possession of the software supporting the solutions and, as a result, are accounted for as service arrangements. Subscription revenue is recognized ratably over the contract term when the cloud-based software is made available to customers.
Software license revenue is generally sold as bundled arrangements that include the rights to a software license and maintenance and cloud-based software in some cases. Revenue from the software license is recognized when the software is made available to the customer and maintenance revenue is recognized as support and updates are provided, which is generally ratably over the contract term.
Professional services revenue is comprised of fees charged for services ranging from product configuration, data migration, systems integration, and training. We recognize professional services revenues as services are performed.
We record revenue net of sales or value-added taxes.
v3.26.1
Cash Equivalents and Investments (Tables)
 3 Months Ended
Mar. 31, 2026
Investments, Debt and Equity Securities [Abstract]  
Schedule of Cash Equivalents and Available-For-Sale Debt Securities
Cash equivalents and available-for-sale debt securities consisted of the following as of the periods presented below (in thousands):
March 31, 2026
Amortized CostUnrealized GainsUnrealized LossesFair Value
Cash equivalents:
Money market funds$359,980 $— $— $359,980 
U.S. treasury securities50,133 — (2)50,131 
U.S. government agency securities17,421 — (1)17,420 
Commercial paper
10,242 — — 10,242 
Fixed deposits
39,578 — — 39,578 
Total cash equivalents477,354 — (3)477,351 
Debt securities:
U.S. treasury securities96,273 11 (18)96,266 
U.S. government agency securities17,389 4 (9)17,384 
Corporate debt securities25,977 4 (13)25,968 
Commercial paper
5,274 — — 5,274 
Certificates of deposit
86,177 — — 86,177 
Total debt securities231,090 19 (40)231,069 
Total cash equivalents and debt securities$708,444 $19 $(43)$708,420 
December 31, 2025
Amortized CostUnrealized GainsUnrealized LossesFair Value
Cash equivalents:
Money market funds$120,923 $— $— $120,923 
U.S. treasury securities100,235 16 — 100,251 
U.S. government agency securities26,168 3 (1)26,170 
Corporate debt securities47,466 — — 47,466 
Fixed deposits129,875 — — 129,875 
Total cash equivalents424,667 19 (1)424,685 
Debt securities:
U.S. treasury securities131,286 102 (9)131,379 
U.S. government agency securities30,868 40 — 30,908 
Corporate debt securities36,878 69 (6)36,941 
Commercial paper
12,369 — — 12,369 
Total debt securities211,401 211 (15)211,597 
Total cash equivalents and debt securities$636,068 $230 $(16)$636,282 
Schedule of Available-For-Sale, Unrealized Loss Position, Fair Value
The following table presents gross unrealized losses and fair values for the securities that were in a continuous unrealized loss position as of the periods presented below (in thousands):
March 31, 2026
Less than 12 monthsGreater than 12 monthsTotal
Fair ValueUnrealized LossFair ValueUnrealized LossFair ValueUnrealized Loss
U.S. treasury securities$69,813 $(18)$— $— $69,813 $(18)
U.S. government agency securities8,715 (9)— — 8,715 (9)
Corporate debt securities20,957 (13)— — 20,957 (13)
Total$99,485 $(40)$— $— $99,485 $(40)
December 31, 2025
Less Than 12 Months12 Months or GreaterTotal
Fair ValueUnrealized LossFair ValueUnrealized LossFair ValueUnrealized Loss
U.S. treasury securities$21,500 $(9)$— $— $21,500 $(9)
Corporate debt securities7,495 (6)— — 7,495 (6)
Total$28,995 $(15)$— $— $28,995 $(15)
Schedule of Amortized Costs and Fair Value of Debt Securities Based on Contractual Maturities
The amortized cost and fair value of the available-for-sale debt securities based on contractual maturities are as follows (in thousands):
March 31, 2026
Amortized CostFair Value
Due within one year$214,598 $214,596 
Due after one year but within five years16,492 16,473 
Total$231,090 $231,069 
v3.26.1
Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following table represents the fair value hierarchy for our financial assets measured at fair value on a recurring basis as of the periods presented below (in thousands):
March 31, 2026
Fair Value Measured Using
Level 1Level 2Total
Financial assets:
Cash equivalents:
Money market funds$359,980 $— $359,980 
U.S. treasury securities50,131 — 50,131 
U.S. government agency securities— 17,420 17,420 
Corporate debt securities
— 10,242 10,242 
Short term fixed deposits
— 39,578 39,578 
Marketable securities:
U.S. treasury securities96,266 — 96,266 
U.S. government agency securities— 17,384 17,384 
Corporate debt securities— 25,968 25,968 
Commercial paper
— 5,274 5,274 
Certificates of deposit
— 86,177 86,177 
Total financial assets$506,377 $202,043 $708,420 
December 31, 2025
Fair Value Measured Using
Level 1Level 2Total
Financial assets:
Cash equivalents:
Money market funds$120,923 $— $120,923 
U.S. treasury securities100,251 — 100,251 
U.S. government agency securities— 26,170 26,170 
Commercial paper— 47,466 47,466 
Fixed deposits— 129,875 129,875 
Marketable securities:
U.S. treasury securities131,379 — 131,379 
U.S. government agency securities— 30,908 30,908 
Corporate debt securities— 36,941 36,941 
Commercial paper— 12,369 12,369 
Total financial assets$352,553 $283,729 $636,282 
v3.26.1
Balance Sheet Components (Tables)
 3 Months Ended
Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Property, Plant and Equipment
The following table summarizes property and equipment, net as of the periods presented below (in thousands):
March 31, 2026December 31, 2025
Computers$19,237 $18,835 
Capitalized internal-use software57,334 53,245 
Office equipment7,980 7,887 
Furniture and fixtures9,737 9,518 
Motor vehicles239 267 
Leasehold improvements8,918 8,994 
Construction in progress4,600 269 
Total property and equipment108,045 99,015 
Less: accumulated depreciation and amortization(63,823)(60,172)
Property and equipment, net$44,222 $38,843 
The following table summarizes depreciation expense and internal-use software capitalization and amortization during the periods presented below (in thousands):
Three Months Ended March 31,
20262025
Capitalization of costs associated with internal-use software
$4,090 $3,464 
Amortization expense of capitalized internal-use software
2,507 1,639 
Depreciation expense
$1,173 $1,207 
Schedule of Accrued Liabilities
The following table summarizes accrued liabilities as of the periods presented below (in thousands):
March 31, 2026December 31, 2025
Accrued compensation$23,577 $28,233 
Acquisition-related liabilities9,043 — 
Accrued third-party cloud infrastructure expenses5,612 5,922 
Accrued reseller commissions10,961 11,512 
Accrued advertising and marketing expenses7,921 7,835 
Advanced payments from customers5,783 6,097 
Accrued taxes17,004 14,499 
Operating lease liabilities, current9,393 9,221 
Contributions withheld for employee stock purchase plan3,017 1,198 
Income tax payable
698 3,571 
Other accrued expenses16,396 13,114 
Total accrued liabilities$109,405 $101,202 
v3.26.1
Business Combinations (Tables)
 3 Months Ended
Mar. 31, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Fair Value, Assets Acquired and Liabilities Assumed
The following table summarizes the preliminary fair value of assets acquired and liabilities assumed as of the date of acquisition:
Amount
(in thousands)
Assets acquired:
Cash and cash equivalents
$4,349 
Other current assets
1,928 
Customer relationship
13,200 
Developed technology
10,700 
Goodwill
52,648 
Deferred tax assets
13,084 
Total
$95,909 
Liabilities assumed:
Current liabilities
$7,172 
Total
$7,172 
Total purchase price consideration
$88,737 
v3.26.1
Goodwill and Intangible Assets, Net (Tables)
 3 Months Ended
Mar. 31, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Changes in Carrying Value of Goodwill
The change in the carrying amounts of goodwill during the three months ended March 31, 2026 is presented below (in thousands):
Balance as of December 31, 2025$146,676 
Goodwill acquired (Note 5)
52,648 
Balance as of March 31, 2026$199,324 
Schedule of Finite-Lived Intangible Assets The following tables summarize acquired intangible assets as of the periods presented below:
March 31, 2026
Gross AmountAccumulated AmortizationNet Carrying ValueWeighted Average Remaining Useful Life
(amounts in thousands)(in years)
Developed technology$51,896 $(20,172)$31,724 5.0
Customer relationships82,400 (17,421)64,979 6.3
Trademarks
700 (700)— — 
Total$134,996 $(38,293)$96,703 

December 31, 2025
Gross AmountAccumulated AmortizationNet Carrying ValueWeighted Average Remaining Useful Life
(amounts in thousands)(in years)
Developed technology$41,196 $(18,535)$22,661 4.4
Customer relationships69,200 (14,875)54,325 6.4
Trademarks
700 (700)— — 
Total$111,096 $(34,110)$76,986 
Schedule of Finite-lived Intangible Assets Amortization Expense
Amortization of acquired intangible assets is as follows (in thousands):
Three Months Ended March 31,
20262025
Cost of revenue$1,637 $1,260 
Sales and marketing2,546 2,254 
Total amortization expense$4,183 $3,514 
Schedule of Estimated Future Amortization Expense
As of March 31, 2026, expected future amortization expense related to acquired intangible assets is as follows (in thousands):
Year Ending December 31,Amortization Expense
Remainder of 2026$12,782 
202716,965 
202817,011 
202916,965 
203014,052 
Thereafter
18,928 
Total future amortization$96,703 
v3.26.1
Leases (Tables)
 3 Months Ended
Mar. 31, 2026
Leases [Abstract]  
Schedule of Lease Costs
The following table presents various components of the lease costs (in thousands):
Operating LeasesThree Months Ended March 31,
20262025
Operating lease cost$3,756 $3,108 
Short-term lease cost356 130 
Variable lease cost958 1,303 
    Total lease cost
$5,070 $4,541 
The weighted-average remaining term of our operating leases and the weighted-average discount rate used to measure the present value of the operating lease liabilities are as follows:
Lease Term and Discount RateMarch 31, 2026March 31, 2025
Weighted-average remaining lease term (in years)3.74.2
Weighted-average discount rate8.3 %9.0 %
The following table presents supplemental information arising from lease transactions. Cash payments related to short-term leases are not included in the measurement of the operating lease liabilities, and as such, are excluded from the amounts below (in thousands):
Three Months Ended March 31,
Supplemental Cash Flow Information:20262025
Cash payments included in the measurement of operating lease liabilities, net of tenant allowance receipts
$3,297 $1,037 
Schedule of Maturities of Operating Lease Liabilities
As of March 31, 2026, maturities of the operating lease liabilities are as follows (in thousands):
Operating Leases
Remainder of 2026$8,574 
202713,110 
202811,809 
20295,966 
20303,504 
Thereafter2,513 
Total lease payments45,476 
Less: imputed interest(6,681)
Present value of operating lease liabilities$38,795 
v3.26.1
Revenue From Contracts with Customers (Tables)
 3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenues
The following table summarizes revenue by our product and service offerings during the periods presented (in thousands):
Three Months Ended March 31,
20262025
Subscription services, software licenses and maintenance
226,513 $194,193 
Professional services2,120 2,080 
Total revenue$228,633 $196,273 
Schedule of Changes in the Balance of Deferred Contract Acquisition Costs
The change in the balance of deferred contract acquisition costs during the periods presented is as follows (in thousands):
Three Months Ended March 31,
20262025
Balance at beginning of the period$57,009 $48,640 
Add: Contract costs capitalized during the period10,197 8,704 
Less: Amortization of contract costs during the period(8,567)(7,583)
Balance at end of the period$58,639 $49,761 
v3.26.1
Segment and Geographic Information (Tables)
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Revenue from External Customers by Geographic Areas The following table summarizes revenue by geographic region (in thousands):
Three Months Ended March 31,
20262025
North America$107,540 $91,471 
Europe, Middle East and Africa88,627 75,810 
Asia Pacific25,865 23,354 
Other6,601 5,638 
Total revenue$228,633 $196,273 
Schedule of Revenue and Long-Lived Assets by Geographical Region
Long-lived assets consist primarily of property, plant and equipment and ROU assets. The following table summarizes long-lived assets by geographic information (in thousands):
March 31, 2026December 31, 2025
North America$41,872 $39,747 
Europe, Middle East and Africa5,788 6,383 
Asia Pacific33,530 32,606 
Total long-lived assets$81,190 $78,736 
v3.26.1
Stockholders' Equity and Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2026
Equity [Abstract]  
Schedule of Shares of Common Stock Reserved for Future Issuance
Shares of common stock reserved for future issuance were as follows (in thousands):
March 31, 2026
2021 Equity Incentive Plan(1)
87,775 
2022 Inducement Plan7,012 
2021 Employee Stock Purchase Plan18,255 
Total shares of common stock reserved for issuance113,042 
(1)Outstanding shares include the 2026 Executive PRSUs as discussed below, based on 100% achievement of target performance.
Schedule of Stock Option Activity
Stock option activity for the three months ended March 31, 2026 is as follows (in thousands, except per share data):
Share Information:Number of Shares (in thousands)Weighted-Average Exercise PriceWeighted-Average Remaining Contractual Term (in years)
Aggregate Intrinsic Value (in thousands) (1)
Balance as of December 31, 20252,332 $11.32 7.1$4,650 
Balance as of March 31, 20262,332 $11.32 6.8$5,021 
Options vested and expected to vest as of March 31, 20262,332 $11.32 6.8$5,021 
Options exercisable as of March 31, 20261,593 $13.58 6.4$52 
(1)Aggregate intrinsic value for stock options represents the difference between the exercise price and the per share fair value of our common stock as of the end of the period, multiplied by the number of stock options outstanding, exercisable, or vested.
Schedule of Restricted Stock Unit Activity
RSU activity, which includes PRSUs, during the three months ended March 31, 2026 was as follows:
Share Information:Number of SharesWeighted-Average Grant Date Fair Value Per Share
Unvested, as of December 31, 202521,936 $14.98 
Granted
18,531 $11.19 
Vested (1)
(1,983)$15.87 
Forfeited/Cancelled
(1,783)$13.62 
Unvested, as of March 31, 2026
36,701 $13.09 
(1) During the three months ended March 31, 2026, total shares that vested were 2.0 million, of which 0.7 million were withheld for tax purposes.
Schedule of Stock-Based Compensation Expense
Total stock-based compensation expense recorded for the three months ended March 31, 2026 and 2025 was as follows (in thousands):
Three Months Ended March 31,
20262025
Cost of revenue$1,618 $1,518 
Research and development(1)
12,301 9,213 
Sales and marketing
13,000 13,409 
General and administrative(2)
17,002 27,524 
Stock-based compensation, net of amounts capitalized43,921 51,664 
Capitalized stock-based compensation711 692 
Total stock-based compensation expense
$44,632 $52,356 
(1)     Stock-based compensation expense recorded to research and development in the condensed consolidated statements of operations excludes amounts that were capitalized primarily for internal-use software.
(2)    General and administrative expense includes stock-based compensation associated with RSUs and PRSUs granted to our former Executive Chairman of $11.3 million for the three months ended March 31, 2025.
Schedule of Unrecognized Stock-Based Compensation Expense Related to Unvested Stock-Based Awards
As of March 31, 2026, unrecognized stock-based compensation expense related to unvested stock-based awards was as follows (in thousands, except for period data):
March 31, 2026
Unrecognized Stock-Based CompensationWeighted-Average Period to Recognize Expense
(in years)
RSUs and PRSUs$428,149 3.0
Stock options1,740 0.3
ESPP4,831 1.0
Total unrecognized stock-based compensation expense$434,720 
v3.26.1
Net Loss Per Share (Tables)
 3 Months Ended
Mar. 31, 2026
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted
The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders (in thousands, except per share data):
Three Months Ended March 31,
20262025
Numerator:
Net loss$(4,810)$(1,304)
Denominator:
Weighted-average number of shares - basic and diluted
283,336 301,280 
Net loss per share - basic and diluted
$(0.02)$— 
Schedule of Potential Common Equivalents Excluded from Computation of Diluted Net Loss Per Share
The following table summarizes the potential common equivalents that were excluded from the computation of diluted net loss per share attributable to Class A and Class B common stockholders for the periods presented (in thousands):
Three Months Ended March 31,
20262025
RSUs and PRSUs
36,701 24,193 
Options
2,332 2,422 
ESPP
442 245 
Total
39,475 26,860 
v3.26.1
Business, Basis of Presentation and Summary of Significant Accounting Policies (Details)
$ in Millions
Jan. 01, 2026
USD ($)
FireHydrant, Inc  
Business Combination [Line Items]  
Payments to acquire businesses, gross $ 88.7
v3.26.1
Cash Equivalents and Investments - Schedule of Carrying Amounts and Fair Values of Debt Securities (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost $ 708,444 $ 636,068
Unrealized Gains 19 230
Unrealized Losses (43) (16)
Fair Value 708,420 636,282
Total cash equivalents    
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost 477,354 424,667
Unrealized Gains 0 19
Unrealized Losses (3) (1)
Fair Value 477,351 424,685
Total debt securities    
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost 231,090 211,401
Unrealized Gains 19 211
Unrealized Losses (40) (15)
Fair Value 231,069 211,597
Money market funds | Total cash equivalents    
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost 359,980 120,923
Unrealized Gains 0 0
Unrealized Losses 0 0
Fair Value 359,980 120,923
U.S. treasury securities | Total cash equivalents    
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost 50,133 100,235
Unrealized Gains 0 16
Unrealized Losses (2) 0
Fair Value 50,131 100,251
U.S. treasury securities | Total debt securities    
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost 96,273 131,286
Unrealized Gains 11 102
Unrealized Losses (18) (9)
Fair Value 96,266 131,379
U.S. government agency securities | Total cash equivalents    
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost 17,421 26,168
Unrealized Gains 0 3
Unrealized Losses (1) (1)
Fair Value 17,420 26,170
U.S. government agency securities | Total debt securities    
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost 17,389 30,868
Unrealized Gains 4 40
Unrealized Losses (9) 0
Fair Value 17,384 30,908
Commercial paper | Total cash equivalents    
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost 10,242  
Unrealized Gains 0  
Unrealized Losses 0  
Fair Value 10,242  
Fixed deposits | Total cash equivalents    
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost 39,578 129,875
Unrealized Gains 0 0
Unrealized Losses 0 0
Fair Value 39,578 129,875
Corporate debt securities | Total cash equivalents    
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost   47,466
Unrealized Gains   0
Unrealized Losses   0
Fair Value   47,466
Corporate debt securities | Total debt securities    
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost 25,977 36,878
Unrealized Gains 4 69
Unrealized Losses (13) (6)
Fair Value 25,968 36,941
Commercial paper | Total debt securities    
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost 5,274 12,369
Unrealized Gains 0 0
Unrealized Losses 0 0
Fair Value 5,274 $ 12,369
Certificates of deposit | Total debt securities    
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost 86,177  
Unrealized Gains 0  
Unrealized Losses 0  
Fair Value $ 86,177  
v3.26.1
Cash Equivalents and Investments - Schedule of Continuous Unrealized Loss Position and Fair Values of Debt Securities (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Fair Value    
Less than 12 months $ 99,485 $ 28,995
Greater than 12 months 0 0
Total 99,485 28,995
Unrealized Loss    
Less than 12 months (40) (15)
Greater than 12 months 0 0
Total (40) (15)
U.S. treasury securities    
Fair Value    
Less than 12 months 69,813 21,500
Greater than 12 months 0 0
Total 69,813 21,500
Unrealized Loss    
Less than 12 months (18) (9)
Greater than 12 months 0 0
Total (18) (9)
U.S. government agency securities    
Fair Value    
Less than 12 months 8,715  
Greater than 12 months 0  
Total 8,715  
Unrealized Loss    
Less than 12 months (9)  
Greater than 12 months 0  
Total (9)  
Corporate debt securities    
Fair Value    
Less than 12 months 20,957 7,495
Greater than 12 months 0 0
Total 20,957 7,495
Unrealized Loss    
Less than 12 months (13) (6)
Greater than 12 months 0 0
Total $ (13) $ (6)
v3.26.1
Cash Equivalents and Investments - Schedule of Amortized Cost and Fair Value Based on Contractual Maturities (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Amortized Cost    
Amortized Cost $ 708,444 $ 636,068
Fair Value    
Total 708,420 $ 636,282
Marketable Securities    
Amortized Cost    
Due within one year 214,598  
Due after one year but within five years 16,492  
Amortized Cost 231,090  
Fair Value    
Due within one year 214,596  
Due after one year but within five years 16,473  
Total $ 231,069  
v3.26.1
Cash Equivalents and Investments - Narrative (Details) - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract]    
Accrued interest receivable $ 1.1 $ 1.5
v3.26.1
Fair Value Measurements - Narrative (Details) - USD ($)
Mar. 31, 2026
Dec. 31, 2025
Foreign Exchange Forward    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Notional amount $ 84,000,000.0 $ 86,700,000
Fair Value, Nonrecurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair value, assets 0 0
Fair value, liabilities $ 0 $ 0
v3.26.1
Fair Value Measurements - Schedule of Assets and Liabilities Measured on Recurring Basis (Details) - Fair Value, Recurring - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Total financial assets $ 708,420 $ 636,282
U.S. treasury securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities: 96,266 131,379
U.S. government agency securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities: 17,384 30,908
Corporate debt securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities: 25,968 36,941
Commercial paper    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities: 5,274 12,369
Certificates of deposit    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities: 86,177  
Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Total financial assets 506,377 352,553
Level 1 | U.S. treasury securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities: 96,266 131,379
Level 1 | U.S. government agency securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities: 0 0
Level 1 | Corporate debt securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities: 0 0
Level 1 | Commercial paper    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities: 0 0
Level 1 | Certificates of deposit    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities: 0  
Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Total financial assets 202,043 283,729
Level 2 | U.S. treasury securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities: 0 0
Level 2 | U.S. government agency securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities: 17,384 30,908
Level 2 | Corporate debt securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities: 25,968 36,941
Level 2 | Commercial paper    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities: 5,274 12,369
Level 2 | Certificates of deposit    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities: 86,177  
Money market funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents: 359,980 120,923
Money market funds | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents: 359,980 120,923
Money market funds | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents: 0 0
U.S. treasury securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents: 50,131 100,251
U.S. treasury securities | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents: 50,131 100,251
U.S. treasury securities | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents: 0 0
U.S. government agency securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents: 17,420 26,170
U.S. government agency securities | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents: 0 0
U.S. government agency securities | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents: 17,420 26,170
Corporate debt securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents: 10,242  
Corporate debt securities | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents: 0  
Corporate debt securities | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents: 10,242  
Short term fixed deposits    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents: 39,578 129,875
Short term fixed deposits | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents: 0 0
Short term fixed deposits | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents: $ 39,578 129,875
Commercial paper    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents:   47,466
Commercial paper | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents:   0
Commercial paper | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents:   $ 47,466
v3.26.1
Balance Sheet Components - Schedule of Property, Plant, and Equipment (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
Property, Plant and Equipment [Line Items]      
Total property and equipment $ 108,045   $ 99,015
Less: accumulated depreciation and amortization (63,823)   (60,172)
Property and equipment, net 44,222   38,843
Capitalization of costs associated with internal-use software 4,090 $ 3,464  
Amortization expense of capitalized internal-use software 2,507 1,639  
Depreciation expense 1,173 $ 1,207  
Computers      
Property, Plant and Equipment [Line Items]      
Total property and equipment 19,237   18,835
Capitalized internal-use software      
Property, Plant and Equipment [Line Items]      
Total property and equipment 57,334   53,245
Office equipment      
Property, Plant and Equipment [Line Items]      
Total property and equipment 7,980   7,887
Furniture and fixtures      
Property, Plant and Equipment [Line Items]      
Total property and equipment 9,737   9,518
Motor vehicles      
Property, Plant and Equipment [Line Items]      
Total property and equipment 239   267
Leasehold improvements      
Property, Plant and Equipment [Line Items]      
Total property and equipment 8,918   8,994
Construction in progress      
Property, Plant and Equipment [Line Items]      
Total property and equipment $ 4,600   $ 269
v3.26.1
Balance Sheet Components - Narrative (Details) - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Net carrying value of capitalized internal-use software $ 27.6 $ 26.1
Long-term accrued compensation $ 19.5 $ 21.1
v3.26.1
Balance Sheet Components - Schedule of Accrued Liabilities (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Accrued compensation $ 23,577 $ 28,233
Acquisition-related liabilities 9,043 0
Accrued third-party cloud infrastructure expenses 5,612 5,922
Accrued reseller commissions 10,961 11,512
Accrued advertising and marketing expenses 7,921 7,835
Advanced payments from customers 5,783 6,097
Accrued taxes 17,004 14,499
Operating lease liabilities, current 9,393 9,221
Contributions withheld for employee stock purchase plan 3,017 1,198
Income tax payable 698 3,571
Other accrued expenses 16,396 13,114
Total accrued liabilities $ 109,405 $ 101,202
v3.26.1
Business Combinations - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Jan. 01, 2026
Mar. 31, 2026
Dec. 31, 2025
Business Combination [Line Items]      
Acquisition-related liabilities   $ 9,043 $ 0
Customer relationships      
Business Combination [Line Items]      
Finite-lived intangible asset, useful life   6 years 3 months 18 days 6 years 4 months 24 days
Developed technology      
Business Combination [Line Items]      
Finite-lived intangible asset, useful life   5 years 4 years 4 months 24 days
FireHydrant, Inc      
Business Combination [Line Items]      
Payments to acquire businesses, gross $ 88,700    
Cash acquired $ 4,300    
Acquisition-related liabilities   $ 9,000  
FireHydrant, Inc | Customer relationships      
Business Combination [Line Items]      
Finite-lived intangible asset, useful life   7 years  
FireHydrant, Inc | Developed technology      
Business Combination [Line Items]      
Finite-lived intangible asset, useful life   7 years  
v3.26.1
Business Combinations - Schedule of Fair Value, Assets Acquired and Liabilities Assumed (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Jan. 01, 2026
Dec. 31, 2025
Assets acquired:      
Goodwill $ 199,324   $ 146,676
FireHydrant, Inc      
Assets acquired:      
Cash and cash equivalents   $ 4,349  
Other current assets   1,928  
Goodwill   52,648  
Deferred tax assets   13,084  
Total   95,909  
Liabilities assumed:      
Current liabilities   7,172  
Total   7,172  
Total purchase price consideration   88,737  
FireHydrant, Inc | Customer relationship      
Assets acquired:      
Finite-lived intangibles   13,200  
FireHydrant, Inc | Developed technology      
Assets acquired:      
Finite-lived intangibles   $ 10,700  
v3.26.1
Goodwill and Intangible Assets, Net - Schedule of Changes in Carrying Value of Goodwill (Details)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
USD ($)
Goodwill [Roll Forward]  
Goodwill, beginning balance $ 146,676
Goodwill acquired (Note 5) 52,648
Goodwill, ending balance $ 199,324
v3.26.1
Goodwill and Intangible Assets, Net - Schedule of Acquired Intangible Assets (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Finite-Lived Intangible Assets [Line Items]    
Gross Amount $ 134,996 $ 111,096
Accumulated Amortization (38,293) (34,110)
Net Carrying Value 96,703 76,986
Developed technology    
Finite-Lived Intangible Assets [Line Items]    
Gross Amount 51,896 41,196
Accumulated Amortization (20,172) (18,535)
Net Carrying Value $ 31,724 $ 22,661
Weighted Average Remaining Useful Life 5 years 4 years 4 months 24 days
Customer relationships    
Finite-Lived Intangible Assets [Line Items]    
Gross Amount $ 82,400 $ 69,200
Accumulated Amortization (17,421) (14,875)
Net Carrying Value $ 64,979 $ 54,325
Weighted Average Remaining Useful Life 6 years 3 months 18 days 6 years 4 months 24 days
Trademarks    
Finite-Lived Intangible Assets [Line Items]    
Gross Amount $ 700 $ 700
Accumulated Amortization (700) (700)
Net Carrying Value $ 0 $ 0
v3.26.1
Goodwill and Intangible Assets, Net - Schedule of Acquired Intangible Assets Amortization Expense (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Finite-Lived Intangible Assets [Line Items]    
Total amortization expense $ 4,183 $ 3,514
Cost of revenue    
Finite-Lived Intangible Assets [Line Items]    
Total amortization expense 1,637 1,260
Sales and marketing    
Finite-Lived Intangible Assets [Line Items]    
Total amortization expense $ 2,546 $ 2,254
v3.26.1
Goodwill and Intangible Assets, Net- Schedule of Estimated Future Amortization Expense (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Amortization Expense    
Remainder of 2026 $ 12,782  
2027 16,965  
2028 17,011  
2029 16,965  
2030 14,052  
Thereafter 18,928  
Net Carrying Value $ 96,703 $ 76,986
v3.26.1
Leases - Narrative (Details)
$ in Millions
Mar. 31, 2026
USD ($)
Lessee, Lease, Description [Line Items]  
Operating lease, option to extend, term 6 years
Lease not yet commenced $ 6.4
Minimum  
Lessee, Lease, Description [Line Items]  
Operating lease, term 1 year
Maximum  
Lessee, Lease, Description [Line Items]  
Operating lease, term 6 years
v3.26.1
Leases - Schedule of Lease Costs (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Leases [Abstract]    
Operating lease cost $ 3,756 $ 3,108
Short-term lease cost 356 130
Variable lease cost 958 1,303
Total lease cost $ 5,070 $ 4,541
v3.26.1
Leases - Schedule of Lease Term and Discount Rate (Details)
Mar. 31, 2026
Mar. 31, 2025
Leases [Abstract]    
Weighted-average remaining lease term (in years) 3 years 8 months 12 days 4 years 2 months 12 days
Weighted-average discount rate 8.30% 9.00%
v3.26.1
Leases - Schedule of Supplemental Cash Flow Information (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Leases [Abstract]    
Cash payments included in the measurement of operating lease liabilities, net of tenant allowance receipts $ 3,297 $ 1,037
v3.26.1
Leases - Schedule of Maturities of Operating Lease Liabilities (Details)
$ in Thousands
Mar. 31, 2026
USD ($)
Operating Leases  
Remainder of 2026 $ 8,574
2027 13,110
2028 11,809
2029 5,966
2030 3,504
Thereafter 2,513
Total lease payments 45,476
Less: imputed interest (6,681)
Present value of operating lease liabilities $ 38,795
v3.26.1
Commitments and Contingencies (Details)
$ in Millions
Mar. 31, 2026
USD ($)
Commitments and Contingencies Disclosure [Abstract]  
Contractual commitments $ 217.9
v3.26.1
Revenue From Contracts with Customers - Schedule of Disaggregation of Revenues (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Disaggregation of Revenue [Line Items]    
Total revenue $ 228,633 $ 196,273
Subscription services, software licenses and maintenance    
Disaggregation of Revenue [Line Items]    
Total revenue 226,513 194,193
Professional services    
Disaggregation of Revenue [Line Items]    
Total revenue $ 2,120 $ 2,080
v3.26.1
Revenue From Contracts with Customers - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]      
Contract with customer, asset, after allowance for credit loss, current $ 8.9   $ 9.8
Contract with customer, noncurrent 2.9   $ 3.1
Revenue recognized during the period 166.0 $ 144.5  
Remaining performance obligation 665.3    
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-04-01      
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]      
Remaining performance obligation $ 481.5    
Remaining performance obligation, expected timing of satisfaction, period (in years) 12 months    
v3.26.1
Revenue From Contracts with Customers - Schedule of Deferred Contract Acquisition Costs (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Change in Deferred Contract Acquisition Costs [Roll Forward]    
Balance at beginning of the period $ 57,009 $ 48,640
Add: Contract costs capitalized during the period 10,197 8,704
Less: Amortization of contract costs during the period (8,567) (7,583)
Balance at end of the period $ 58,639 $ 49,761
v3.26.1
Segment and Geographic Information - Narrative (Details)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
USD ($)
segment
Mar. 31, 2025
USD ($)
Revenues from External Customers and Long-Lived Assets [Line Items]    
Number of operating segments | segment 1  
Number of reportable segments | segment 1  
Revenue $ 228,633 $ 196,273
UNITED STATES    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Revenue $ 96,500 $ 82,400
UNITED STATES | Revenue from Contract with Customer Benchmark | Geographic Concentration Risk    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Concentration risk percentage 42.00% 42.00%
UNITED KINGDOM    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Revenue $ 30,200 $ 27,200
UNITED KINGDOM | Revenue from Contract with Customer Benchmark | Geographic Concentration Risk    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Concentration risk percentage 13.00% 14.00%
v3.26.1
Segment and Geographic Information - Schedule of Revenue and Long-lived Assets by Geographic Region (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total revenue $ 228,633 $ 196,273  
Total long-lived assets 81,190   $ 78,736
North America      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total revenue 107,540 91,471  
Total long-lived assets 41,872   39,747
Europe, Middle East and Africa      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total revenue 88,627 75,810  
Total long-lived assets 5,788   6,383
Asia Pacific      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total revenue 25,865 23,354  
Total long-lived assets 33,530   $ 32,606
Other      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total revenue $ 6,601 $ 5,638  
v3.26.1
Stockholders' Equity and Stock-Based Compensation - Narrative (Details)
$ / shares in Units, $ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2026
USD ($)
purchasePeriod
$ / shares
shares
Mar. 31, 2025
USD ($)
$ / shares
shares
Dec. 31, 2024
Feb. 28, 2026
USD ($)
Nov. 30, 2024
USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Repurchase and retirement of common stock, including excise tax $ 45,740 $ 111,977      
Share-based payment arrangement, expensed and capitalized, amount 44,632 52,356      
Stock-based compensation expense $ 43,921 51,664      
ESPP          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Purchase price of common stock (in percentage) 85.00%        
Offering period (in months) 24 months        
Number of purchase periods | purchasePeriod 4        
Purchase period (in months) 6 months        
ESPP offering period (in months) 24 months        
Share-based payment arrangement, expensed and capitalized, amount $ 1,000 900      
Employee Stock Option          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Contractual term (in years) 10 years        
Award vesting period (in years) 4 years        
Restricted Stock Units          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Award vesting period (in years) 4 years        
Total grant date fair value of vested RSUs $ 31,500 55,600      
Performance Based Restricted Stock Units (PRSUs) | Executive Officer          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Award vesting period (in years)     3 years    
Equity instruments other than options, revenue target, percentage of awards 0.70        
Equity instruments other than options, free cash flow target, percentage of awards 30.00%        
Stock-based compensation expense $ 3,900 $ 1,900      
Performance Based Restricted Stock Units (PRSUs) | Executive Officer | Minimum          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Deferred compensation arrangement with individual, equity percentage 0.00%        
Performance Based Restricted Stock Units (PRSUs) | Executive Officer | Maximum          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Deferred compensation arrangement with individual, equity percentage 173.60%        
2024 Share Repurchase Program          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Share repurchase, authorized amount         $ 400,000
Repurchase and retirement of common stock, including excise tax (in shares) | shares   6,732,390      
Repurchase and retirement of common stock, including excise tax   $ 111,800      
Average price (in dollars per share) | $ / shares   $ 16.60      
2026 Share Repurchase Program          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Share repurchase, authorized amount       $ 400,000  
Repurchase and retirement of common stock, including excise tax (in shares) | shares 5,697,636        
Repurchase and retirement of common stock, including excise tax $ 45,400        
Average price (in dollars per share) | $ / shares $ 7.97        
Remained available for future share $ 354,600        
v3.26.1
Stockholders' Equity and Stock-Based Compensation - Schedule of Shares of Common Stock Reserved for Future Issuance (Details)
shares in Thousands
Mar. 31, 2026
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Total shares of common stock reserved for issuance (in shares) 113,042
2021 Equity Incentive Plan  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Total shares of common stock reserved for issuance (in shares) 87,775
2021 Equity Incentive Plan | RSUs | Executive Officer  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Deferred compensation arrangement with individual, equity percentage 100.00%
2021 Equity Incentive Plan | RSUs | Executive Chairman  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Deferred compensation arrangement with individual, equity percentage 100.00%
2022 Inducement Plan  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Total shares of common stock reserved for issuance (in shares) 7,012
2021 Employee Stock Purchase Plan  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Total shares of common stock reserved for issuance (in shares) 18,255
v3.26.1
Stockholders' Equity and Stock-Based Compensation - Schedule of Stock Options (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Number of Shares (in thousands)    
Beginning balance (in shares) 2,332  
Ending balance (in shares) 2,332 2,332
Options vested or expected to vest (in shares) 2,332  
Options exercisable (in shares) 1,593  
Weighted-Average Exercise Price    
Beginning balance (in dollars per share) $ 11.32  
Ending balance (in dollars per share) 11.32 $ 11.32
Options vested or expected to vest (in dollars per share) 11.32  
Options exercisable (in dollars per share) $ 13.58  
Weighted-Average Remaining Contractual Term (in years)    
Weighted-Average Remaining Contractual Term (in years) 6 years 9 months 18 days 7 years 1 month 6 days
Options vested or expected to vest as of the end of the period 6 years 9 months 18 days  
Options exercisable as of the end of the period 6 years 4 months 24 days  
Aggregate Intrinsic Value    
Aggregate intrinsic value $ 5,021 $ 4,650
Options vested or expected to vest as of the end of the period 5,021  
Options exercisable as of the end of the period $ 52  
v3.26.1
Stockholders' Equity and Stock-Based Compensation - Schedule of Restricted Stock Unit Activity (Details) - Restricted Stock Units
shares in Thousands
 3 Months Ended
Mar. 31, 2026
$ / shares
shares
Number of Shares  
Unvested, beginning balance (in shares) 21,936
Granted (in shares) 18,531
Vested (in shares) (1,983)
Forfeited/Cancelled (in shares) (1,783)
Unvested, ending balance (in shares) 36,701
Weighted-Average Grant Date Fair Value Per Share  
Unvested, beginning balance (in dollars per share) | $ / shares $ 14.98
Granted (in dollars per share) | $ / shares 11.19
Vested (in dollars per share) | $ / shares 15.87
Forfeited/Cancelled (in dollars per share) | $ / shares 13.62
Unvested, ending balance (in dollars per share) | $ / shares $ 13.09
Stock withheld for tax withholding requirements (in shares) 700
v3.26.1
Stockholders' Equity and Stock-Based Compensation - Schedule of Stock-Based Compensation Expense (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]    
Stock-based compensation, net of amounts capitalized $ 43,921 $ 51,664
Capitalized stock-based compensation 711 692
Total stock-based compensation expense 44,632 52,356
Cost of revenue    
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]    
Stock-based compensation, net of amounts capitalized 1,618 1,518
Research and development    
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]    
Stock-based compensation, net of amounts capitalized 12,301 9,213
Sales and marketing    
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]    
Stock-based compensation, net of amounts capitalized 13,000 13,409
General and administrative    
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]    
Stock-based compensation, net of amounts capitalized $ 17,002 27,524
General and administrative | RSUs and PRSUs | Executive Chairman    
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]    
Stock-based compensation, net of amounts capitalized   $ 11,300
v3.26.1
Stockholders' Equity and Stock-Based Compensation - Schedule of Unrecognized Stock-Based Compensation (Details)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Total unrecognized stock-based compensation expense $ 434,720
RSUs and PRSUs  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Unrecognized Stock-Based Compensation $ 428,149
Weighted-Average Period to Recognize Expense (in years) 3 years
Employee Stock Option  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Unrecognized Stock-Based Compensation $ 1,740
Weighted-Average Period to Recognize Expense (in years) 3 months 18 days
ESPP  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Unrecognized Stock-Based Compensation $ 4,831
Weighted-Average Period to Recognize Expense (in years) 1 year
v3.26.1
Income Taxes (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Income Tax Disclosure [Abstract]    
Provision for (benefit from) income taxes $ (1,824) $ 3,857
Effective income tax rate (as a percent) 27.50% 151.10%
v3.26.1
Net Loss Per Share - Schedule of Computation of Basic and Diluted Net Loss Per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Numerator:    
Net loss $ (4,810) $ (1,304)
Denominator:    
Weighted average number of shares - basic (in shares) 283,336 301,280
Weighted average number of shares - diluted (in shares) 283,336 301,280
Net loss per share - basic (in dollars per share) $ (0.02) $ 0
Net loss per share - diluted (in dollars per share) $ (0.02) $ 0
v3.26.1
Net Loss Per Share - Schedule of Potential Common Equivalents Excluded from Computation of Diluted Net Loss Per Share (Details) - shares
shares in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Equity awards excluded from diluted net income (loss) per share because their effect would have been anti-dilutive (in shares) 39,475 26,860
RSUs and PRSUs    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Equity awards excluded from diluted net income (loss) per share because their effect would have been anti-dilutive (in shares) 36,701 24,193
Options    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Equity awards excluded from diluted net income (loss) per share because their effect would have been anti-dilutive (in shares) 2,332 2,422
ESPP    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Equity awards excluded from diluted net income (loss) per share because their effect would have been anti-dilutive (in shares) 442 245
v3.26.1
Subsequent Event (Details) - Forecast
$ in Millions
 3 Months Ended
Jun. 30, 2026
USD ($)
Subsequent Event [Line Items]  
Restructuring and Related Cost, Number of Positions Eliminated, Period Percent 11.00%
Minimum  
Subsequent Event [Line Items]  
Restructuring and Related Cost, Expected Cost $ 7.0
Maximum  
Subsequent Event [Line Items]  
Restructuring and Related Cost, Expected Cost $ 9.0