A10 NETWORKS, INC., 10-K filed on 2/25/2025
Annual Report
v3.25.0.1
Cover Page - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Feb. 20, 2025
Jun. 30, 2024
Cover [Abstract]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2024    
Current Fiscal Year End Date --12-31    
Document Transition Report false    
Entity Registrant Name A10 NETWORKS, INC.    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 20-1446869    
Entity Address, Address Line One 2300 Orchard Parkway,    
Entity Address, City or Town San Jose    
Entity Address, State or Province CA    
Entity Address, Postal Zip Code 95131    
City Area Code 408    
Local Phone Number 325-8668    
Title of 12(b) Security Common Stock, $.00001 Par Value    
Trading Symbol ATEN    
Security Exchange Name NYSE    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Entity Public Float     $ 1,008.4
Entity Common Stock, Shares Outstanding   73,973,179  
Documents Incorporated by Reference Portions of the registrant’s definitive Proxy Statement for the 2025 Annual Stockholders’ Meeting, which the registrant expects to file with the Securities and Exchange Commission within 120 days of December 31, 2024, are incorporated by reference into Part III (Items 10, 11, 12, 13 and 14) of this Annual Report on Form 10-K.    
Entity Shell Company false    
Entity File Number 001-36343    
Amendment Flag false    
Entity Central Index Key 0001580808    
Document Fiscal Period Focus FY    
Document Fiscal Year Focus 2024    
Entity Filer Category Large Accelerated Filer    
Document Financial Statement Error Correction [Flag] false    
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Audit Information
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Audit Information [Abstract]    
Auditor Name GRANT THORNTON LLP Armanino LLP
Auditor Location San Jose, California San Jose, California
Auditor Firm ID 248 32
v3.25.0.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 95,129 $ 97,244
Marketable securities 100,429 62,056
Accounts receivable, net of allowances of $465 and $405, respectively 76,687 74,307
Inventory 22,005 23,522
Prepaid expenses and other current assets 13,038 14,695
Total current assets 307,288 271,824
Property and equipment, net 39,142 29,876
Goodwill 1,307 1,307
Other non-current assets 22,714 24,077
Total assets 432,815 389,809
LIABILITIES AND STOCKHOLDERS’ EQUITY    
Accounts payable 12,542 7,024
Accrued and other liabilities 32,696 21,388
Deferred revenue, current 78,335 82,657
Total current liabilities 123,573 111,069
Deferred revenue, non-current 69,924 58,677
Other non-current liabilities 7,489 12,187
Total liabilities 200,986 181,933
Commitments and contingencies (Note 7)
Stockholders' equity:    
Common stock, $0.00001 par value: 500,000 shares authorized; 90,520 and 89,003 shares issued and 73,693 and 74,359 shares outstanding, respectively 1 1
Treasury stock, at cost: 16,827 and 14,644 shares, respectively (180,992) (150,909)
Additional paid-in-capital 508,387 486,958
Dividends paid (55,417) (37,619)
Accumulated other comprehensive income (loss) 194 (71)
Accumulated deficit (40,344) (90,484)
Total stockholders' equity 231,829 207,876
Total liabilities and stockholders' equity 432,815 389,809
Deferred Tax Assets, Net $ 62,364 $ 62,725
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CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
shares in Thousands, $ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Statement of Financial Position [Abstract]    
Allowance for doubtful accounts receivable $ 74,307 $ 74,307
Common Stock, par value (in dollars per share) $ 0.00001 $ 0.00001
Common stock, shares authorized (in shares) 500,000 500,000
Common stock, shares issued (in shares) 89,003 89,003
Common stock, shares outstanding (in shares) 74,359 74,359
Treasury Stock, Shares, Acquired 14,644 14,644
v3.25.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenue:      
Total revenue $ 261,696 $ 251,700 $ 280,338
Cost of revenue:      
Total cost of revenue 51,419 47,962 56,832
Gross profit 210,277 203,738 223,506
Operating expenses:      
Sales and marketing 83,300 85,976 88,511
Research and development 57,726 55,229 58,398
General and administrative 25,283 23,885 23,518
Total operating expenses 166,309 165,090 170,427
Income from operations 43,968 38,648 53,079
Non-operating income (expense):      
Interest income 6,747 5,078 1,304
Interest and other income (expense), net (7,384) (69) 1,667
Total non-operating income (expense), net 14,131 5,147 (363)
Income before income taxes 58,099 43,795 52,716
Provision for income taxes 7,959 3,825 5,808
Net income $ 50,140 $ 39,970 $ 46,908
Net income per share:      
Net income (loss) per share - basic (in dollars per share) $ 0.68 $ 0.54 $ 0.62
Net income (loss) per share - diluted (in dollars per share) $ 0.67 $ 0.53 $ 0.60
Weighted-average shares used in computing net income per share:      
Weighted Average Number of Shares Outstanding, Basic 74,088 74,210 75,528
Weighted Average Number of Shares Outstanding, Diluted 75,302 75,550 77,751
Products      
Revenue:      
Total revenue $ 139,799 $ 141,082 $ 173,201
Cost of revenue:      
Total cost of revenue 31,218 31,468 40,135
Services      
Revenue:      
Total revenue 121,897 110,618 107,137
Cost of revenue:      
Total cost of revenue $ 20,201 $ 16,494 $ 16,697
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CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Statement of Comprehensive Income [Abstract]      
Net loss $ 50,140 $ 39,970 $ 46,908
Other comprehensive income (loss), net of tax:      
Unrealized gain (loss) on marketable securities 214 911 (497)
Comprehensive income 50,405 40,625 46,411
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax $ 51 $ (256) $ 0
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CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($)
shares in Thousands, $ in Thousands
Total
Common Stock
Treasury stock, at cost
Additional Paid-in Capital
Dividends Paid
Accumulated Other Comprehensive Income (Loss)
Accumulated Deficit
Beginning balance at Dec. 31, 2021 $ 208,888 $ 1 $ 55,677 $ 446,035 $ (3,880) $ (229) $ (177,362)
Beginning balance (in shares) at Dec. 31, 2021   77,423          
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Stock-based compensation expense 13,852     13,852      
Common stock issued under employee equity incentive plans (in shares)   2,405          
Common stock issued under employee equity incentive plans $ 7,040     7,040      
Repurchase of common stock (in shares) (6,090)            
Repurchase of common stock $ (79,257)   (79,257)        
Payments for dividends (15,922)       (15,922)    
Unrealized loss on marketable securities, net of tax (497)         (497)  
Net Income 46,908           46,908
Ending balance (in shares) at Dec. 31, 2022   73,738          
Ending balance at Dec. 31, 2022 181,012 $ 1 134,934 466,927 (19,802) (726) (130,454)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Stock-based compensation expense 15,088     15,088      
Common stock issued under employee equity incentive plans (in shares)   1,881          
Common stock issued under employee equity incentive plans $ 4,943     4,943      
Repurchase of common stock (in shares) (1,260)            
Repurchase of common stock $ (15,975)   (15,975)        
Payments for dividends (17,817)       (17,817)    
Unrealized loss on marketable securities, net of tax 911         911  
Other Comprehensive Income (Loss), Net of Tax (256)         (256)  
Net Income 39,970           39,970
Ending balance (in shares) at Dec. 31, 2023   74,359          
Ending balance at Dec. 31, 2023 207,876 $ 1 150,909 486,958 (37,619) (71) (90,484)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Stock-based compensation expense 17,805     17,805      
Common stock issued under employee equity incentive plans (in shares)   1,516          
Common stock issued under employee equity incentive plans $ 3,624     3,624      
Repurchase of common stock (in shares) (2,182)            
Repurchase of common stock $ (30,083)   (30,083)        
Payments for dividends (17,798)       (17,798)    
Unrealized loss on marketable securities, net of tax 214         214  
Other Comprehensive Income (Loss), Net of Tax 51         51  
Net Income 50,140           50,140
Ending balance (in shares) at Dec. 31, 2024   73,693          
Ending balance at Dec. 31, 2024 $ 231,829 $ 1 $ 180,992 $ 508,387 $ (55,417) $ 194 $ (40,344)
v3.25.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net income $ 50,140 $ 39,970 $ 46,908
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 11,293 9,346 7,381
Stock-based compensation 17,048 14,081 13,331
Provision for (recovery from) credit losses and sales returns 59 (699) (36)
Other non-cash items (424) 117 793
Changes in operating assets and liabilities:      
Accounts receivable (2,555) (679) (10,065)
Inventory (760) (6,302) 2,035
Prepaid expenses and other assets (67) (1,862) 1,627
Accounts payable 2,224 (2,999) 103
Accrued and other liabilities 6,609 (20,801) (1,338)
Deferred revenue 6,925 14,342 5,361
Net cash provided by operating activities 90,492 44,514 66,100
Cash flows from investing activities:      
Proceeds from sales of marketable securities 25,531 45,420 6,252
Proceeds from maturities of marketable securities 81,146 64,504 71,045
Purchases of marketable securities (142,759) (85,420) (55,411)
Capital expenditures (12,268) (10,896) (10,799)
Net cash provided by (used in) investing activities (48,350) 13,608 11,087
Cash flows from financing activities:      
Proceeds from issuance of common stock under employee equity incentive plans 3,624 4,943 7,038
Repurchases of common stock (30,084) (15,975) (79,257)
Payments for dividends (17,797) (17,817) (15,922)
Net cash used in financing activities (44,257) (28,849) (88,141)
Net increase (decrease) in cash and cash equivalents (2,115) 29,273 (10,954)
Cash and cash equivalents - beginning of year 97,244 67,971 78,925
Cash and cash equivalents - end of year 95,129 97,244 67,971
Supplemental Disclosures:      
Cash paid for income taxes, net of refunds 6,283 2,409 1,747
Cash paid for interest 0 0 0
Non-cash investing and financing activities:      
Transfers between inventory and property and equipment 2,277 2,473 733
Capital expenditures included in accounts payable $ 672 $ 3,298 $ 230
v3.25.0.1
Description of Business and Summary of Significant Accounting Policies
 12 Months Ended
Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Description of Business and Significant Accounting Policies Description of Business and Summary of Significant Accounting Policies
Description of Business

A10 Networks, Inc. (together with our subsidiaries, the “Company”, “we”, “our” or “us”) was incorporated in California in 2004 and reincorporated in Delaware in March 2014. We are headquartered in San Jose, California and have wholly-owned subsidiaries throughout the world including Asia and Europe.

We are a leading provider of secure application solutions and services that enable a new generation of intelligently connected companies with the ability to continuously improve cyber protection and digital responsiveness across dynamic Information Technology (“IT”) and network infrastructures. Our product portfolio seeks to address many of the cyber protection challenges and solution requirements. The portfolio consists of network infrastructure and security products. The infrastructure portfolio powers the delivery of internet services and applications while the security products protect applications, APIs, infrastructure and enterprises from cyber-attacks. Our security suite is known as A10 Defend. In addition, we have an intelligent management and automation tool known as A10 Control (formally Harmony Controller), which provides intelligent management, automation and analytics for secure application delivery in multi-cloud environments to help simplify operations.

Our secure infrastructure solutions include; Thunder Application Delivery Controller (“ADC”), Thunder Carrier Grade Networking (“CGN”), Thunder SSL Insight (“SSLi”) and Thunder Convergent Firewall (“CFW”). Our security products include; A10 Defend Threat Control, A10 Defend Orchestrator, A10 Defend Detector, A10 Defend Mitigator and A10 Defend ThreatX Protect. Our solutions are available in a variety of form factors, such as optimized hardware appliances, bare metal software, containerized software, virtual appliances and cloud-native software. Our customers include leading service providers (cloud, telecommunications, multiple system operators, cable), government organizations, and enterprises.

Basis of Presentation

The accompanying consolidated financial statements include those of A10 Networks, Inc. and its subsidiaries, and have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the United States Securities and Exchange Commission (the “SEC”). All intercompany accounts and transactions have been eliminated in consolidation.

Use of Estimates

The preparation of consolidated financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Those estimates and assumptions affect revenue recognition and deferred revenue, the allowance for credit losses for potential uncollectible amounts, the sales return reserve, the valuation of inventory, the fair value of marketable securities, contingencies and litigation, accrued liabilities, deferred commissions and the determination of fair value of stock-based compensation. These estimates are based on information available as of the date of the consolidated financial statements; therefore, actual results could differ from management’s estimates.

Significant Accounting Policies

Cash and Cash Equivalents
Cash and cash equivalents include bank deposits and short-term, highly liquid investments purchased with an original maturity of 90 days or less. Our cash equivalents consist of money market funds.

Marketable Securities
We classify our investments in debt securities as available-for-sale and record these investments at fair value. We may sell these investments at any time before their maturity dates. Accordingly, we classify our securities, including those with maturities exceeding twelve months, as current assets and include them in marketable securities in the consolidated balance sheets. Unrealized gains and losses are reported in accumulated other comprehensive income (loss), net of taxes, in the consolidated statements of stockholders’ equity. Realized gains and losses are determined based on the specific identification method. Realized gains and losses and credit allowances and impairments due to credit losses, if any, on marketable securities are reported in interest and other income, net as incurred in the consolidated statements of operations.
We regularly review our investment portfolio for impairment. If the estimated fair value of available-for-sale debt securities is less than its amortized cost basis, we determine if the difference, if any, is caused by expected credit losses and write-down the amortized cost basis of the securities if it is more likely than not we will be required or we intend to sell the securities before recovery of its amortized cost basis. Allowances for credit losses and write-downs are recognized in the non-operating income (expense) section of our consolidated statements of operations.

The Company also invests in equity securities with readily determinable fair values which consist of investments in publicly traded companies. These investments are measured at fair value with changes in fair value recognized in non-operating income (expense) in our consolidated statements of operations.

Fair Value Measurement
Our financial instruments consist of cash, cash equivalents, marketable securities, accounts receivable and accounts payable. Our cash equivalents are measured and recorded at fair value on a recurring basis. Marketable securities are typically comprised of certificates of deposit, corporate securities, U.S. Treasury and agency securities, commercial paper, asset-backed securities and publicly trader equity securities and are measured at fair value on a recurring basis. The Company determines whether a credit loss exists for available-for-sale debt securities in an unrealized loss position. When the fair value of a security is below its amortized cost, the amortized cost will be reduced to its fair value and the resulting loss will be recorded in our consolidated statements of operations, if it is more likely than not that we are required to sell the impaired security before recovery of its amortized cost basis, or we have the intention to sell the security. If neither of these conditions are met, the Company considers the extent to which the fair value is less than the amortized cost, any changes to the rating of the security by a rating agency, and review of the issuer's financial statements. If factors indicate a credit loss exists, an allowance for credit loss is recorded through other expense, net, limited by the amount that the fair value is less than the amortized cost basis.

For all available-for-sale debt securities, unrealized gains and the amount of unrealized loss relating to factors other than credit loss are reported as a separate component of accumulated other comprehensive loss in our consolidated balance sheets. Realized gains and losses are determined based on the specific identification method and are reported in our consolidated statements of operations.

Financial instruments recorded at fair value are measured and classified using the three-level valuation hierarchy as described below:

Level 1 — observable inputs for identical assets or liabilities, such as quoted prices in active markets.

Level 2 — inputs other than the quoted prices in active markets that are observable either directly or indirectly.

Level 3 — unobservable inputs in which there is little or no market data, which requires us to develop our own assumptions when pricing the financial instruments.

Accounts receivable and accounts payable are stated at their carrying value, which approximates fair value due to the short time to the expected receipt or payment.
Accounts Receivable and Allowance for Credit Losses
Accounts receivable are unsecured and are recorded at invoice amounts, net of allowances for credit losses for any potential uncollectible amounts. We evaluate the collectability of our accounts receivable based on known collection risks and historical experience. We mitigate credit risk in respect to accounts receivable by performing periodic credit evaluations based on a number of factors, including past transaction experience, evaluation of credit history and review of the invoicing terms of the contract. We generally do not require our customers to provide collateral to support accounts receivable. In circumstances where we are aware of a specific customer’s inability to meet its financial obligations to us (for examples, bankruptcy filings or substantial downgrading of credit ratings), we record a specific allowance for credit losses against amounts due to reduce the net recognized receivable to the amount we reasonably believe will be collected. For all other customers, we record allowances for credit losses based on the length of time the receivables are past due and our historical experience of collections and write-offs.
Inventory
Inventory is stated at the lower of cost or net realizable value. Inventory cost is determined using first-in, first-out method. We regularly evaluate inventory for excess and obsolete products. Most of our inventory provisions relate to excess quantities of certain products, based on our inventory levels and future product purchase commitments compared to assumptions based on management’s assessment of future demand and market conditions. Inventory write-downs, once established, are not reversed as they establish a new cost basis for the inventory. Inventory write downs are included as a component of cost of products revenue in the consolidated statements of operations.

Property and Equipment, Net
Property and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation and amortization is computed using the straight-line method over the estimated useful lives of the related assets. Depreciation and amortization on property and equipment, excluding leasehold improvements, ranges from one to seven years.

Leasehold improvements are amortized on a straight-line basis over the shorter of the estimated useful lives of the assets or the remaining lease term. Remaining amortization terms on leasehold improvements as of December 31, 2024 ranged from approximately one to six years.

Leases
The Company determines if an arrangement is a lease at inception. For leases where the Company is the lessee, right-of-use (“ROU”) assets represent the Company’s right to use the underlying asset for the term of the lease and are included within other non-current assets in the consolidated balance sheets, and the lease liabilities represent an obligation to make lease payments arising from the lease and are recorded within accrued liabilities and other non-current liabilities in the consolidated balance sheets. Lease liabilities are recognized at the lease commencement date based on the present value of the future lease payments over the lease term. The Company uses its incremental borrowing rate based on the information available at the commencement date of the underlying lease arrangement to determine the present value of lease payments. The ROU asset is determined based on the lease liability initially established and reduced for any prepaid lease payments and any lease incentives received. The lease term to calculate the ROU asset and related lease liability includes options to extend or terminate the lease when it is reasonably certain that the Company will exercise the option. The Company’s lease agreements generally do not contain any material variable lease payments, residual value guarantees or restrictive covenants.

The Company elected the package of practical expedients permitted under the transition guidance, which allowed for the carry-forward of the Company’s historical lease classification and assessment on whether a contract is or contains a lease. The Company elected to not apply the new standard’s recognition requirements to leases with an initial term of 12 months or less and instead elected to recognize lease payments in the consolidated statements of operations on a straight-line basis over the lease term.

Lease expense for operating leases is recognized on a straight-line basis over the lease term as an operating expense while expense for financing leases is recognized as depreciation expense and interest expense using the accelerated interest method of recognition. The Company accounts for lease components and non-lease components as a single lease component.

Goodwill
Goodwill represents the excess of purchase consideration over the fair values of assets acquired and liabilities assumed in a business combination. Goodwill is not amortized but is reviewed for possible impairment annually in the fourth quarter or more frequently if impairment indicators arise. We have identified a single reporting unit for the purpose of our goodwill impairment tests, and the fair value of our reporting unit has been determined by our enterprise value. We may elect to utilize a qualitative assessment to determine whether it is more likely than not that the fair value of our reporting unit is less than its carrying value. If, after assessing the qualitative factors, we determine that it is more likely than not that the fair value of our reporting unit is less than its carrying value, an impairment analysis will be performed. We compare the fair value of our reporting unit with its carrying amount and if the carrying value of the reporting unit exceeds its fair value, an impairment loss will be recognized for the amount by which the carrying amount of a reporting unit exceeds its fair value up to the amount of goodwill. We did not identify impairment of goodwill for any periods presented.

Impairment of Long-Lived Assets
We evaluate our property and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of our long-lived assets may not be recoverable. Recoverability of an asset group is measured by comparison of its carrying amount to the expected future undiscounted cash flows that the asset group is expected to generate. If it is determined that an asset group is not recoverable, an impairment loss is recorded in the amount by which the carrying amount of the asset group exceeds its fair value.

Revenue Recognition
We recognize revenue, net of applicable taxes, when we transfer control of promised goods or services to our customers in an amount that reflects the consideration to which we expect to be entitled to in exchange for those goods or services.

We derive revenue from two sources: (i) products revenue, which includes hardware, perpetual software license and subscription offerings, which include term-based license agreements; and (ii) services revenue, which includes post contract support (“PCS”), professional services, training and software-as-a-service offerings. Revenue for term-based license agreements is recognized at a point in time when the Company delivers the software license to the customer and over time once the subscription term has commenced. For our software-as-a-service offerings, our customers do not take possession of the Company’s software but rather we provide access to the service via a hosting arrangement. Revenue in these arrangements is recognized over time as the services are provided. A substantial portion of our revenue is from sales of our products and services through distribution channel partners, such as resellers and distributors. We apply the following five-step revenue recognition model:

•Identification of the contract, or contracts, with a customer
•Identification of the performance obligations in the contract
•Determination of the transaction price
•Allocation of the transaction price to the performance obligations in the contract
•Recognition of revenue when, or as, performance obligations are satisfied.

Our customers predominantly purchase PCS services in conjunction with purchases of our products. PCS revenue includes arrangements for software support and technical support for our products. PCS is offered under renewable, fee-based contracts, which include technical support, hardware repair and replacement parts, bug fixes, patches, and unspecified upgrades on a when-and-if available basis. We recognize services revenue ratably over the term of the PCS contract, which is typically one year, but can be up to seven years. Billed but unearned PCS revenue is included in deferred revenue.

Professional service revenue primarily consists of the fees we earn related to installation and consulting services. We recognize revenue from professional services upon delivery or completion of performance. Professional service arrangements are typically short term in nature and are largely completed within 30 to 90 days from the start of service. Revenue is recognized for training when the training course is delivered.

Contracts with Multiple Performance Obligations

Most of our contracts with customers, other than renewals of PCS, contain multiple performance obligations with a combination of products and PCS. Products and PCS generally qualify as distinct performance obligations. Our hardware includes embedded ACOS software, which together deliver the essential functionality of our products. For contracts which contain multiple performance obligations, we allocate revenue to each distinct performance obligation based on the standalone selling price (“SSP”). Judgment is required to determine the SSP for each distinct performance obligation. We use a range of amounts to estimate SSP for products and PCS sold together in a contract to determine whether there is a discount to be allocated based on the relative SSP of the various products and PCS.

If we do not have an observable SSP, such as when we do not sell a product or service separately, then SSP is estimated using judgment and considering all reasonably available information such as market conditions and information about the size and/or purchase volume of the customer. We generally use a range of amounts to estimate SSP for individual products and services based on multiple factors including, but not limited to the sales channel (reseller, distributor or end-customer), the geographies in which our products and services are sold, and the size of the end-customer.

We account for multiple contracts with a single customer as one arrangement if the contractual terms and/or substance of those agreements indicate that they may be so closely related that they are, in effect, parts of a single contract.
We may occasionally accept returns to address customer satisfaction issues even though there is generally no contractual provision for such returns. We estimate returns for sales to customers based on historical return rates applied against current-period shipments. Specific customer returns and allowances are considered when determining our sales return reserve estimate.

Consequently, we have chosen to apply the portfolio approach when possible, which we do not believe will happen frequently. Additionally, we will evaluate a portfolio of data, when possible, in various situations, rights of return and transactions with variable consideration.

We report revenue net of sales taxes. We include shipping charges billed to customers in revenue and the related shipping costs are included in cost of product revenue.

Deferred Contract Acquisition Costs
We capitalize certain contract acquisition costs consisting of incremental sales commissions incurred to obtain customer contracts. Deferred commissions related to product revenues are recognized upon transfer of control to customers. Deferred commissions related to services revenue are recognized as the related performance obligations are met. Deferred commissions that will be recognized during the succeeding 12-month period are recorded as prepaid expenses and other current assets in the Company’s consolidated balance sheets, and the remaining portion is recorded as other non-current assets. Amortization of deferred commissions is included in sales and marketing expense in the consolidated statements of operations.

Research and Development Costs
Research and development efforts are focused on new product development and on developing additional functionality for our existing products. These expenses consist of personnel costs, and to a lesser extent, prototype materials, depreciation and certain allocated facilities and information technology costs. We expense research and development costs as incurred.

Capitalization of Internal Use Software
The company capitalizes costs incurred during the application development stage associated with the development of internal-use software systems. We account for the capitalization of internal-use software under ASC Topic 350-40, Internal-Use Software. Capitalized costs are included in property and equipment, net on the Company’s consolidated balance sheet. Once a project is available for general release to customers, the accumulated capitalized costs associated with that project will begin to be amortized over the estimated useful life of the software.
Capitalization of Internally Developed Software to be Marketed and Sold
We capitalize software engineering labor costs related to certain long-term projects that are expected to take more than a year to complete. We account for the capitalization of labor costs under Accounting Standards Codification (“ASC”) Topic 985-20, Software to be Sold, Leased or Marketed. Once a long-term project is available for general release to customers, the accumulated capitalized labor costs associated with that project will begin to be amortized over the expected revenue-generating life of that project and are recorded in cost of sales. In December 2022, we released the software portion of our first capitalized project and impaired the uncompleted hardware portion that we determined would not generate sufficient revenue to justify the cost of completing it. When internal-use software that was previously capitalized is abandoned, the cost less the accumulated amortization, if any, is recorded as an operating expense. In September 2023, we released our second capitalized project after we impaired a portion of it after we determined the full carrying value was not recoverable.

Stock-Based Compensation
Stock-based compensation expense is measured on the grant date based on the fair value of the award and recognized on a straight-line basis over the requisite service period, reduced for actual forfeitures. The fair values of restricted stock units (“RSUs”) are estimated using our stock price at the close of the market on the grant date. The fair value of employee stock purchase rights is estimated using the Black-Scholes model on the grant date. The Black-Scholes model determines the fair value of share-based payment awards based on assumptions including expected term, stock price volatility and risk-free interest rate. Stock-based compensation expense related to shares not purchased due to terminations, or forfeitures, is reversed on the date of forfeiture. The fair values of market performance-based restricted stock units (“PSUs”) are estimated using the Monte Carlo simulation model, which uses the stock price, expected volatility and risk-free interest rate to determine the fair value.

Warranty Costs
Our appliance hardware and software generally carry a warranty period of 90 days. Estimates of future warranty costs are based on historical returns and the application of the historical return rates to our in-warranty installed base. Warranty costs to repair or replace items sold to customers have been insignificant for the years ended December 31, 2024, 2023 and 2022.

Foreign Currency
The functional currency of our foreign subsidiaries is the U.S. Dollar. Transactions denominated in non-functional currencies are remeasured to the functional currency at the average exchange rate for the period. Non-functional currency monetary assets and liabilities are remeasured to the functional currency using the exchange rate in effect at the balance sheet date, and non-monetary assets and liabilities are remeasured at historical exchange rates. Gains and losses related to remeasurement are recorded in interest and other income, net in the consolidated statements of operations.

Income Taxes
We account for income taxes using the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in our consolidated financial statements or in our tax returns. Estimates and judgments occur in the calculation of certain tax liabilities and in the determination of the recoverability of certain deferred income tax assets, which arise from temporary differences and carryforwards. Deferred income tax assets and liabilities are measured using the currently enacted tax rates that apply to taxable income in effect for the years in which those tax assets are expected to be realized or settled. We regularly assess the likelihood that our deferred tax assets will be recovered from future taxable income and, to the extent we believe, based upon the weight of available evidence, that it is more likely than not that all or a portion of deferred tax assets will not be realized, a valuation allowance is established through an adjustment to income tax expense.

The factors used to assess the likelihood of realization of our deferred tax assets include our historical operating performance, our forecast of future taxable income and available tax planning strategies that could be implemented to realize the net deferred tax assets. Assumptions represent our best estimates and involve inherent uncertainties and the application of our judgment.

We account for uncertainty in income taxes recognized in our consolidated financial statements by regularly reviewing our tax positions and benefits to be realized. We recognize tax liabilities based upon our estimate of whether, and the extent to which, additional taxes will be due when such estimates are more-likely-than-not to be sustained. An uncertain income tax position will not be recognized if it has less than a 50% likelihood of being sustained upon examination by taxing authorities. The provision for (benefit from) income taxes excludes the effects of any resulting tax reserves, or unrecognized tax benefits, that are considered appropriate as well as the related net interest and penalties.

Advertising Costs
Advertising costs are expensed when incurred. Advertising costs were $0.1 million, $0.1 million and $0.2 million for the years ended December 31, 2024, 2023 and 2022, respectively.

Segment Information
An operating segment is a component of an enterprise for which its discrete financial information is available and its operating results are regularly reviewed by our chief operating decision maker for resource allocation decisions and performance assessment. Our chief operating decision maker is our Chief Executive Officer.

Our Chief Executive Officer reviews financial information presented on a consolidated basis for purposes of allocating resources and assessing performance of the Company. Accordingly, we have one reportable segment and one operating segment. See Note 11 Segment and Geographic Information in the accompanying notes to the consolidated financial statements for further detail.

Vendor Business Concentration
We rely on third parties to manufacture our hardware appliances and we purchase raw materials from third-party vendors. We outsource substantially all of our manufacturing services to three independent manufacturers. In addition, we purchase certain strategic component inventory which is consigned to our third-party manufacturers. Other hardware components included in our products are sourced from various suppliers by our manufacturers and are principally industry standard parts and components that are available from multiple vendors.
Concentration of Credit Risk and Significant Customers
Financial instruments that potentially subject us to concentrations of credit risk consist of cash, cash equivalents, marketable securities and accounts receivable. Our cash, cash equivalents and marketable securities are held and invested in high-credit quality financial instruments by recognized financial institutions and are subject to minimum credit risk.

Our accounts receivable are unsecured and represent amounts due to us based on contractual obligations of our customers. We mitigate credit risk in respect to accounts receivable by performing periodic credit evaluations based on a number of factors, including past transaction experience, evaluation of credit history and review of the invoicing terms of the contract. We generally do not require our customers to provide collateral to support accounts receivable.

Significant customers, including distribution channel partners and direct customers (“end-customers”), are those which represent 10% or more of our total revenue for each period presented or our gross accounts receivable balance as of each respective balance sheet date.

A substantial portion of our revenue is from sales of our products and services through distribution channel partners, such as resellers and distributors. In 2024 and 2023, sales through a single distribution channel partner represented 20% and 19% of our total revenue, respectively. In 2022, sales through two distribution channel partners represented 15% and 13% of our total revenue.

Revenues from our significant end-customers as a percentage of our total revenue are as follows:
 Years Ended December 31,
202420232022
Customer A15%14%11%
Customer B**13%
* represents less than 10% of total revenue

As of December 31, 2024, one distribution channel partner accounted for 34% of our total gross accounts receivable. As of December 31, 2023, one distribution channel partner accounted for 19% of our total gross accounts receivable.

Recent Accounting Standards Not Yet Adopted

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires public entities, on an annual basis, to provide disclosure of specific categories in the rate reconciliation, as well as disclosure of income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. We are currently evaluating the impact of adopting ASU 2023-09.

In November 2024, the FASB issued ASU 2024-03, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, requiring public entities to disclose additional information about specific expense categories in the notes to the consolidated financial statements on an interim and annual basis. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and for interim periods beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2024-03.

Recently Adopted Accounting Standard

In November 2023, the Financial Accounting Standards Board, or the FASB, issued Accounting Standards Update, or ASU, 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires public entities to disclose information about their reportable segments’ significant expenses and other segment items on an interim and annual basis. Public entities with a single reportable segment are required to apply the disclosure requirements in ASU 2023-07, as well as all existing segment disclosures and reconciliation requirements in ASC 280, on an interim and annual basis. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company adopted ASU 2023-07 during the year ended December
31, 2024. See Note 11 Segment and Geographic Information in the accompanying notes to the consolidated financial statements for further detail.
There have been no other recent accounting pronouncements, changes in accounting pronouncements or recently adopted accounting guidance during the year ended December 31, 2024 that are of significance or potential significance to us.
v3.25.0.1
Marketable Securities and Fair Value Measurements
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Marketable Securities and Fair Value Measurements Marketable Securities and Fair Value Measurements
Marketable Securities

Marketable securities, classified as available-for-sale, consisted of the following (in thousands):
As of December 31, 2024As of December 31, 2023
 Amortized CostGross Unrealized GainsGross Unrealized LossesFair ValueAmortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Corporate securities$52,311 $102 $(12)$52,401 $15,393 $2 $(2)$15,393 
U.S. Treasury and agency securities47,865 163 — 48,028 39,963 6 (32)39,937 
Commercial paper— — — — 998 — — 998 
Debt securities$100,176 $265 $(12)100,429 $56,354 $8 $(34)56,328 
Publicly held equity securities— 5,728 
Total marketable securities$100,429 $62,056 

During the years ended December 31, 2024 and 2023, the Company did not reclassify any amount to earnings from accumulated other comprehensive income (loss) related to unrealized gains or losses. During the year ended December 31, 2023, the Company sold certain debt securities at a loss and realized a $0.3 million loss.

The Company anticipates that it will recover the entire amortized cost basis of its available-for-sale marketable securities and has determined that no allowance for credit losses was required to be recognized during the years ended December 31, 2024 and 2023.

The following table summarizes the cost and estimated fair value of debt securities based on stated effective maturities as of December 31, 2024 (in thousands):
 Amortized CostFair Value
Less than 1 year$81,548 $81,682 
Mature in 1 - 3 years18,628 18,747 
Total$100,176 $100,429 

All available-for-sale securities are classified as current because they are available for use in current operations.
Marketable securities in an unrealized loss position consisted of the following (in thousands):
Less Than 12 Months12 Months or MoreTotal
As of December 31, 2024Fair ValueGross Unrealized LossesFair ValueGross Unrealized LossesFair ValueGross Unrealized Losses
Corporate securities$12,516 $(12)$— $— $12,516 $(12)
Total$12,516 $(12)$— $— $12,516 $(12)
Less Than 12 Months12 Months or MoreTotal
As of December 31, 2023Fair ValueGross Unrealized LossesFair ValueGross Unrealized LossesFair ValueGross Unrealized Losses
Corporate securities$9,418 $(2)$— $— $9,418 $(2)
U.S. Treasury and agency securities24,304 (32)— — 24,304 (32)
Total$33,722 $(34)$— $— $33,722 $(34)

Based on evaluation of securities that have been in a continuous loss position, the Company determined all gross unrealized losses on its marketable securities as of December 31, 2024 were temporary in nature and related primarily to interest rate shifts rather than changes in the underlying credit quality of the securities in a loss position. The Company has the ability to hold these investments until maturity, or for at least the foreseeable future. As such, the Company determined that as of December 31, 2024, there were no credit losses on any securities within its portfolio of marketable securities.

Fair Value Measurements

The following is a summary of the Company’s cash, cash equivalents and marketable securities. The Company records cash and cash equivalents at cost, which approximates fair value. Marketable securities are measured at fair value on a recurring basis (in thousands):
 As of December 31, 2024As of December 31, 2023
 Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Cash$89,195 $— $— $89,195 $52,451 $— $— $52,451 
Cash equivalents5,934 — — 5,934 44,793 — — 44,793 
Corporate securities— 52,401 — 52,401 — 15,393 — 15,393 
U.S. Treasury and agency securities38,025 10,003 — 48,028 12,701 27,236 — 39,937 
Commercial paper— — — — — 998 — 998 
$133,154 $62,404 $— 195,558 $109,945 $43,627 $— 153,572 
Publicly held equity securities - Level 1— 5,728 
Total$195,558 $159,300 

There were no transfers between Level 1 and Level 2 fair value measurement categories during the years ended December 31, 2024 and 2023.
v3.25.0.1
Revenue Revenue
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
Contract Balances
The following table reflects contract balances with customers (in thousands):
Balance Sheet Line ReferenceAs of December 31, 2024As of December 31, 2023As of December 31, 2022
Accounts receivable, net$76,687 $74,307 $72,928 
Deferred revenue, current78,335 82,657 74,340 
Deferred revenue, non-current69,924 58,677 52,652 

The Company receives payment from customers based upon billing cycles. Invoice payment terms typically range from 30 to 90 days.

Accounts receivable are recorded when the right to consideration becomes unconditional.

Contract assets include amounts related to the Company’s contractual right to consideration for performance obligations not yet billed, and are included in prepaid and other current assets in the Company’s consolidated balance sheets. The contract assets amount was immaterial as of December 31, 2024 and 2023.

Deferred revenue primarily consists of amounts that have been invoiced but not yet recognized as revenue and consists of performance obligations pertaining to support and subscription services. During the years ended December 31, 2024 and 2023, the Company recognized revenue of $80.7 million and $72.3 million, respectively, related to deferred revenue at the beginning of the period.

Deferred revenue consisted of the following (in thousands):
 As of December 31, 2024As of December 31, 2023As of December 31, 2022
Deferred revenue:  
Products$4,405 $14,917 $7,782 
Services143,854 126,417 119,210 
Total deferred revenue148,259 141,334 126,992 
Less: current portion(78,335)(82,657)(74,340)
Non-current portion$69,924 $58,677 $52,652 

Deferred Contract Acquisition Costs
As of December 31, 2024, the current and non-current portions of deferred contract acquisition costs totaled $6.2 million and $4.8 million, respectively, and the related amortization was $5.9 million for the year ended December 31, 2024. As of December 31, 2023, the current and non-current portions of deferred contract acquisition costs totaled $6.2 million and $4.4 million, respectively, and the related amortization was $5.5 million for the year ended December 31, 2023.

For the years ended December 31, 2024, 2023 and 2022, the Company had no impairment loss in relation to capitalized deferred contract acquisition costs and no asset impairment charges related to contract assets.

Remaining Performance Obligations
Remaining performance obligations represent contracted revenues that are non-cancellable and have not yet been recognized due to unsatisfied or partially satisfied performance obligations, which include deferred revenues and amounts that will be invoiced and recognized as revenues in future periods.
The Company expects to recognize revenue on the remaining performance obligations as follows (in thousands):
 As of December 31, 2024
Within 1 year$78,335 
Next 2 to 3 years57,956 
Thereafter11,968 
Total$148,259 
v3.25.0.1
Derivatives
 12 Months Ended
Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivatives Derivatives
Foreign Exchange Forward Contracts

The Company uses derivative financial instruments to manage exposures to foreign currency that may or may not be designated as hedging instruments. The Company’s objective for holding derivatives is to use the most effective methods to minimize the impact of these exposures. The Company does not enter into derivatives for speculative or trading purposes. The Company enters into foreign exchange forward contracts primarily to mitigate the effect of gains and losses generated by
foreign currency transactions related to certain operating expenses and remeasurement of certain assets and liabilities denominated in foreign currencies.

For foreign exchange forward contracts not designated as hedging instruments, the fair value of the derivatives in a net gain or net loss position are recorded in prepaid expenses and other current assets in the accompanying consolidated balance sheets. Changes in the fair value of derivatives are recorded in other income, net in the accompanying consolidated statements of operations. As of December 31, 2024 and 2023, foreign exchange forward currency contracts not designated as hedging instruments had the total notional amount of $7.6 million and $34.5 million, respectively. These contracts have maturities of approximately 30 days. For the years ended December 31, 2024 and 2023, the Company recorded unrealized net losses of $0.2 million and $0.1 million, respectively, in its consolidated statements of operations related to these contracts. For the years ended December 31, 2024 and 2023, the net realized gain recorded in the consolidated statements of operations from these contracts was $4.5 million and $2.1 million, respectively.

For foreign exchange forward contracts designated as hedging instruments, unrealized gains and losses arising from these contracts are recorded as a component of accumulated other comprehensive income (loss) on the consolidated balance sheets. These hedging contracts have 30 day maturities. The hedging gains and losses in accumulated other comprehensive income (loss) in the consolidated balance sheet are subsequently reclassified to expenses, as applicable, in the consolidated statements of operations in the same period in which the underlying transactions affect the Company’s earnings. As of December 31, 2024, there were no outstanding foreign exchange forward contracts designated as hedging instruments. As of December 31, 2023, foreign exchange forward currency contracts designated as hedging instruments had notional amounts of $10.8 million.
v3.25.0.1
Leases
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Leases
The Company leases various facilities in the U.S., Asia and Europe under non-cancellable operating lease arrangements that expire on various dates through July 2027. These arrangements require the Company to pay certain operating expenses, such as taxes, repairs and insurance, and contain renewal and escalation clauses.

The table below presents the Company’s right-of-use assets and lease liabilities as of December 31, 2024 (in thousands):
As of December 31, 2024
Operating leases
Right-of-use assets:
Other non-current assets$11,539 
Total right-of-use assets$11,539 
Lease liabilities:
Accrued liabilities$4,744 
Other non-current liabilities7,194 
Total operating lease liabilities$11,938 

The aggregate future lease payments for the Company’s operating leases as of December 31, 2024 were as follows (in thousands):
2025$4,978 
20264,913 
20272,441 
Total lease payments12,332 
Less: imputed interest(394)
Present value of lease liabilities$11,938 
The components of lease costs were as follows (in thousands):
Year Ended
December 31, 2024
Operating lease costs$4,314 
Short-term lease costs536 
Total lease costs$4,850 
Average lease terms and discount rates for the Company’s operating leases were as follows (in thousands):
As of December 31, 2024
Weighted-average remaining term (in years)2.5
Weighted-average discount rate3.18 %

Supplemental cash flow information for the Company’s operating leases were as follows (in thousands):
Year Ended
December 31, 2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$5,403 
Right-of-use assets obtained in exchange for new lease liabilities$— 

Corporate Headquarters Lease
On May 2, 2019, the Company entered into a sublease agreement (the “Sublease”) with Marvell Semiconductor, Inc. (“Sublandlord”) for its corporate headquarters and research and development space located at 2300 Orchard Parkway, San Jose, California, 95131 (the “Premises”). The term of the Sublease is approximately eight years and began on December 1, 2019, the date the Company commenced business operations at the Premises. The Sublease provides for monthly base rent of approximately $262,000 per month for the first year with annual increases thereafter. The total base rent through the end of the term of the Sublease will total approximately $33.8 million. In addition to base rent, the Company will also be responsible for operating and other facility expenses. The Company has accounted for the lease under ASC 842 and has a right-of-use asset of $11.5 million recorded in other non-current assets and has lease liabilities of $4.7 million and $7.2 million, recorded in accrued liabilities and other non-current liabilities, respectively, in the consolidated balance sheets as of December 31, 2024. The Company had a right-of-use asset of $16.4 million recorded in other non-current assets and has lease liabilities of $5.0 million and $11.8 million, recorded in accrued liabilities and other non-current liabilities, respectively, in the consolidated balance sheets as of December 31, 2023.
v3.25.0.1
Other Balance Sheet Accounts Details
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Other Balance Sheet Accounts Details Other Balance Sheet Accounts Details
Accounts Receivable Allowance for Credit Losses

The following table presents the changes in the Company’s accounts receivable allowance for credit losses (in thousands):
 As of December 31, 2024As of December 31, 2023
Allowance for credit losses, beginning balance$405 $32 
Increase (decrease) in allowance1,067 1,181 
Write-offs(1,007)(808)
Allowance for credit losses, ending balance$465 $405 
Inventory

Inventory consisted of the following (in thousands):
 As of December 31, 2024As of December 31, 2023
Raw materials$12,883 $15,473 
Finished goods9,122 8,049 
Total inventory$22,005 $23,522 

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following (in thousands):
 As of December 31, 2024As of December 31, 2023
Prepaid expenses$4,245 $6,143 
Deferred contract acquisition costs6,201 6,177 
Other2,592 2,375 
Prepaid expenses and other current assets$13,038 $14,695 
Property and Equipment, Net

Property and equipment, net, consisted of the following (in thousands):
 Useful LifeAs of December 31, 2024As of December 31, 2023
(in years)
Equipment1 to 5$36,615 $31,174 
Software1 to 65,705 5,339 
Furniture and fixtures1 to 7531 520 
Leasehold improvementsLease term3,439 3,207 
Construction in progress22,651 13,731 
Property and equipment, gross68,941 53,971 
Less: accumulated depreciation(29,799)(24,095)
Property and equipment, net$39,142 $29,876 

Depreciation and amortization expense on property and equipment was $6.0 million, $4.6 million and $2.7 million for the years ended December 31, 2024, 2023 and 2022, respectively.

Internally Developed Software to be Marketed and Sold
During the year ended December 31, 2024, no costs were capitalized associated with internally developed software to be marketed and sold. During the years ended December 31, 2023 and 2022, capitalized costs totaled $0.5 million and $2.1 million, respectively. During the years ended December 31, 2024 and 2023, amortization cost totaled $0.5 million and $0.3 million, respectively. During the years ended December 31, 2024, 2023 and 2022, impairment cost totaled $0.9 million, $3.0 million and $0.6 million, respectively. As of December 31, 2024, the unamortized capitalized balance was $1.7 million.

Other Non-Current Assets

Other non-current assets consisted of the following (in thousands):
As of December 31, 2024As of December 31, 2023
Right-of-use assets$11,539 $16,376 
Deferred contract acquisition costs4,814 4,371 
Deposits1,667 1,704 
Other4,694 1,626 
Total other non-current assets$22,714 $24,077 

Accrued Liabilities

Accrued liabilities consisted of the following (in thousands):
As of December 31, 2024As of December 31, 2023
Accrued compensation and benefits$19,058 $7,633 
Accrued tax liabilities2,687 1,429 
Lease liabilities4,744 4,998 
Other6,207 7,328 
Total accrued liabilities$32,696 $21,388 

Other Non-Current Liabilities

Other non-current liabilities consisted of the following (in thousands):
As of December 31, 2024As of December 31, 2023
Lease liabilities$7,194 $11,822 
Other295 365 
Total other non-current liabilities$7,489 $12,187 
v3.25.0.1
Commitments and Contingencies
 12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Legal Proceedings

Litigation

From time to time, we may be party or subject to various legal proceedings and claims, either asserted or unasserted, which arise in the ordinary course of business. Some of these proceedings involve claims that are subject to substantial uncertainties and unascertainable damages. We make a provision for a liability when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Unless otherwise specifically disclosed in this note, we have determined that no provision for liability nor disclosure is required related to any claim against us because: (a) there is not a
reasonable possibility that a loss exceeding amounts already recognized (if any) may be incurred with respect to such claim; (b) a reasonably possible loss or range of loss cannot be estimated; or (c) such estimate is immaterial.

Investigations

In January 2023, the Company identified a cybersecurity incident in its corporate IT infrastructure (not related to any of the Company’s products or solutions used by its customers) (the “Cyber Incident”). Upon detecting the incident, the Company launched an investigation and engaged the services of cybersecurity experts and advisors, incident response professionals and external counsel to support the investigation. While this incident did not have a material impact on the Company, it did result in additional expense incurred in connection with the investigation.

Lease Commitments

The Company leases various operating spaces in the U.S., Asia and Europe under non-cancelable operating lease arrangements that expire on various dates through July 2027. These arrangements require us to pay certain operating expenses, such as taxes, repairs and insurance, and contain renewal and escalation clauses. The Company recognizes rent expense under these arrangements on a straight-line basis over the term of the lease.

The Company has open purchase commitments with third-party contract manufacturers with facilities in Taiwan to supply nearly all of our finished goods inventories, spare parts, and accessories. These purchase orders are expected to be paid within one year of the issuance date. The Company had open purchase commitments with manufactures in Taiwan totaling $12.2 million as of December 31, 2024.

The following table summarizes our non-cancelable operating leases as of December 31, 2024 (in thousands):
Years Ending December 31,Operating Leases
2025$4,978 
20264,913 
20272,441 
Total$12,332 
Rent expense was $4.9 million, $4.9 million and $4.9 million for the years ended December 31, 2024, 2023 and 2022, respectively.

Guarantees and Indemnifications

In the normal course of business, we provide indemnifications to customers against claims of intellectual property infringement made by third parties arising from the use of our products. Other guarantees or indemnification arrangements include guarantees of product and service performance, and standby letters of credit for lease facilities and corporate credit cards. We have not recorded a liability related to these indemnifications and guarantee provisions and our guarantees and indemnification arrangements have not had any significant impact on our consolidated financial statements to date.
v3.25.0.1
Equity Incentive Plans, Stock-Based Compensation and Stock Repurchase Program
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Equity Incentive Plans, Stock-Based Compensation and Stock Repurchase Program Equity Incentive Plans, Stock-Based Compensation and Stock Repurchase Program
Equity Incentive Plans

2014 Equity Incentive Plan and 2023 Stock Incentive Plan

The 2014 Equity Incentive Plan (the “2014 Plan”) was in effect until it was replaced by the 2023 Stock Incentive Plan (the “2023 Plan”) on April 1, 2023. Both the 2014 Plan and 2023 Plan provide for the granting of stock options, restricted stock awards, restricted stock units (“RSUs”), market performance-based RSUs (“PSUs”), stock appreciation rights, performance units and performance shares to our employees, consultants and members of our Board of Directors. As of December 31, 2024, we had 3,553,759 shares available for future grant under the 2023 Plan.

Like the 2014 Plan, the shares authorized for the 2023 Plan increase annually on January 1 by the least of (i) 8,000,000 shares, (ii) 5% of the outstanding shares of common stock on the last day of our immediately preceding fiscal year, or (iii) such other amount as determined by our Board of Directors. Our Board of Directors determined the current shares authorized under the 2023 Plan were sufficient for the time being and decided not to increase the number of shares authorized on January 1, 2024.

To date, the Company has granted stock options, RSUs and PSUs. Stock options expire no more than 10 years from the grant date and generally vest over four years. In the case of an incentive stock option granted to an employee, who at the time of grant, owns stock representing more than 10% of the total combined voting power of all classes of stock, the per share exercise price will be no less than 110% of the fair market value per share on the date of grant, and the incentive stock option will expire no later than five years from the date of grant. For incentive stock options granted to any other employees and nonstatutory stock options granted to employees, consultants, or members of our Board of Directors, the per share exercise price will be no less than 100% of the fair market value per share on the date of grant. RSUs and PSUs generally vest from one to four years.

2014 Employee Stock Purchase Plan

In October 2018, the Board of Directors approved amending the 2014 Employee Stock Purchase Plan (the “Amended 2014 Purchase Plan”) in order to, among other things, reduce the maximum contribution participants can make under the plan from 15% to 10% of eligible compensation. The Amended 2014 Purchased Plan also reflects revised offering periods, which were changed from 24 months to six months in duration and that begin on or about December 1 and June 1 each year, starting in December 2018. The Amended 2014 Purchase Plan permits eligible employees to purchase shares of our common stock through payroll deductions with up to 10% of their pre-tax eligible earnings subject to certain Internal Revenue Code (“IRC”) limitations. The purchase price of the shares is 85% of the lower of the fair market value of our common stock on the first day of a six-month offering period or the relevant purchase date. In addition, no participant may purchase more than 1,500 shares of common stock in each purchase period. 

Employees purchased 281,107 shares at an average price of $11.69 per share and with an aggregate intrinsic value of $1.2 million during the year ended December 31, 2024. Employees purchased 274,937 shares at an average price of $12.88 per share and with an aggregate intrinsic value of $1.2 million during the year ended December 31, 2023. Employees purchased 434,547 shares at an average price of $7.46 per share and with an aggregate intrinsic value of $2.1 million during the year ended December 31, 2022. The intrinsic value is calculated as the difference between the market value on the date of purchase and the purchase price of the shares. As of December 31, 2024, we had 531,170 shares available for future issuance under the Amended 2014 Purchase Plan.
Stock-Based Compensation

A summary of our stock-based compensation expense is as follows (in thousands):
 Years Ended December 31,
 202420232022
Stock-based compensation by type of award:
Stock options$— $— $— 
Stock awards15,958 12,999 11,995 
Employee stock purchase rights1,090 1,082 1,336 
Total$17,048 $14,081 $13,331 
Stock-based compensation by category of expense:
Cost of revenue$2,022 $1,702 $1,556 
Sales and marketing3,946 3,722 4,556 
Research and development4,199 3,232 3,346 
General and administrative6,881 5,425 3,873 
Total$17,048 $14,081 $13,331 
As of December 31, 2024, the Company had $32.7 million of unrecognized stock-based compensation expense related to unvested stock-based awards, including ESPP under our Amended 2014 Purchase Plan, which will be recognized over a weighted-average period of 2.5 years.

Fair Value Determination

The fair values of employee stock purchase rights were estimated as of the grant date using the Black-Scholes option-pricing model with the following assumptions:
 Years Ended December 31,
202420232022
Expected term (in years)0.50.50.5
Risk-free interest rate5.0%5.3%0.9%
Expected volatility32%42%58%
Dividend rate1.50%1.80%1.25%

•Expected Term. We estimate the expected life of options based on an analysis of our historical experience of employee exercise and post-vesting termination behavior considered in relation to the contractual life of the option. The expected term for the employee stock purchase rights is based on the term of the purchase period.

•Risk-Free Interest Rate. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant for zero coupon U.S. Treasury notes with maturities approximately equal to the expected terms of stock options and the employee stock purchase rights.

•Expected Volatility. For stock options, due to the limited trading history of our own common stock, we determined the share price volatility factor based on a combination of the historical volatility of our own common stock and the historical volatility of our peer group for the stock options. For employee stock purchase rights, we used the historical volatility of our own common stock.

•Dividend Rate. In December 2021, the Company paid its first quarterly cash dividend in the amount of $0.05 per share of common stock outstanding and increased the amount to $0.06 per share in the three months ended December 31, 2022. For the years ended December 31, 2024, 2023 and 2022, the expected dividend rate assumes cash dividends will total $0.24, $0.24 and $0.24 per common share outstanding annually, respectively.
Stock-based compensation expense related to shares not purchased due to terminations, or forfeitures, is reversed on the date of forfeiture.

Stock Options

The following tables summarize our stock option activities and related information:
 Number of Shares
(thousands)		Weighted-Average Exercise Price Per ShareWeighted-Average Remaining Contractual Term
(years)
Aggregate Intrinsic Value (1)
(thousands)
Outstanding as of December 31, 202380 $4.63 
Granted— —   
Exercised(77)4.39  
Canceled(3)12.19   
Outstanding as of December 31, 2024— $— 0$— 
Vested and exercisable as of December 31, 2024— $— 0$— 
(1)The aggregate intrinsic value represents the excess of the closing price of our common stock of $18.40 as of December 31, 2024 over the exercise price of the outstanding in-the-money options.

No stock options were granted in years ended December 31, 2024, 2023 and 2022.

The intrinsic value of options exercised is as follows (in thousands):
 Years Ended December 31,
 202420232022
Intrinsic value of options exercised (1)
$822 $1,440 $5,744 
(1)Intrinsic value of options exercised is the difference between the closing price of our common stock at the time of exercise and the exercise price paid.

Stock Awards

The Company has granted Restricted Stock Units (“RSUs”) to its employees, consultants and members of its Board of Directors, and Performance Stock Units (“PSUs”) to certain executives and employees. RSUs have service-based vesting conditions and PSUs have market performance-based vesting conditions as well as service-based vesting conditions. As of December 31, 2024, there were 2,496,267 RSUs outstanding that were unvested and 746,422 PSUs outstanding that had not yet achieved their market-performance vesting conditions.

Our RSUs typically vest over a three or four year service term. We granted 1,424,261, 1,315,210 and 1,230,180 RSUs in 2024, 2023 and 2022, respectively. The fair value of RSUs is determined to be the fair value of our common stock on the grant date as quoted on the New York Stock Exchange.

Our PSUs typically have a four year term. Market performance-based conditions are satisfied upon the achievement of specified 100-day volume weighted average stock price targets for the Company’s common stock. We granted 363,445, 326,630 and 314,538 PSUs in 2024, 2023 and 2022, respectively. The fair value of our PSUs is determined using a Monte Carlo valuation model which incorporates various assumptions including expected stock price volatility, expected term, expected dividend yield and risk-free interest rates. We estimate the volatility of common stock on the date of grant based on historical volatility of our common stock price. We estimate the expected term based on various exercise scenarios. We estimate the expected dividend yield based on the current annual dividend payment per share divided by our grant date common stock price The risk-free interest rate is based on U.S. Treasury yields in effect at the time of grant.
The following table summarizes our restricted stock unit activities and related information:
Service-Based Restricted Stock Units (RSUs)Number of Shares
(thousands)		Weighted-Average Grant Date Fair Value Per ShareWeighted-Average Remaining Vesting Term
(years)
Nonvested as of December 31, 20232,360 $13.94 
Granted1,424 14.10 
Released(916)13.25 
Canceled(372)14.11 
Nonvested as of December 31, 20242,496 $14.26 1.42

The following table summarizes our market performance-based restricted stock unit activities and related information:
Market Performance-Based Restricted Stock Units (PSUs)Number of Shares
(thousands)		Weighted-Average Grant Date Fair Value Per ShareWeighted-Average Remaining Vesting Term
(years)
Nonvested as of December 31, 2023657 $10.32 
Granted363 11.51 
Released(243)7.88 
Canceled(31)11.99 
Nonvested as of December 31, 2024746 $11.63 2.63

The fair values of market performance-based restricted stock units were estimated as of the grant date using a Monte Carlo valuation model with the following assumptions:
 Years Ended December 31,
202420232022
Expected term (in years)4.04.04.0
Risk-free interest rate4.0%4.3%1.4%
Expected volatility52.01%50.20%47.98%
Dividend rate1.77%1.63%1.39%

Following is additional information pertaining to our stock award activities for both RSUs and PSUs (in thousands, except per share data):
 Years Ended December 31,
202420232022
Weighted-average grant date fair value of stock awards granted (per share)$13.57 $14.04 $13.76 
Total fair value of stock awards released (vested) during the period$14,044 $13,535 $12,226 

Repurchase Agreements

In September 2022, the Company entered into a Common Stock Repurchase Agreement with entities affiliated with Summit Partners whereby the Company purchased 3.5 million shares of common stock for $12.75 per share, or an aggregate purchase price of $44.6 million. In November 2024, the Company entered into a Common Stock Repurchase Agreement with entities affiliated with Summit Partners whereby the Company purchased 330 thousand shares of common stock for $15.73 per share, or an aggregate purchase price of $5.2 million. The Company’s common shares repurchased are held in treasury and accounted for under the cost method.
Stock Repurchase Programs

On November 1, 2022, the Company announced its Board of Directors authorized a stock repurchase program of up to $50 million of its common stock over a period of twelve months. On November 7, 2023, the Company announced its Board of Directors had authorized a stock repurchase program under which the Company may repurchase up to $50 million of its outstanding common stock over a period of twelve months. On November 7, 2024, the Company announced its Board of Directors had authorized a new, non-expiring stock repurchase program under which the Company may repurchase up to $50 million of its outstanding common stock. As of December 31, 2024, the Company had $44.2 million available to repurchase shares under this program. Under all of the Company’s stock repurchase programs, repurchased shares are held in treasury at cost. The Company’s stock repurchase programs do not obligate it to acquire any specific number of shares. Shares may be repurchased in privately negotiated and/or open market transactions and by withholding shares in connection with vesting equity awards held by certain employees, including under plans complying with Rule 10b5-1 under the Exchange Act.

To date, all repurchases under the Company’s stock repurchase programs have occurred in the open market, in negotiated transactions and from withholding shares in connection with vesting equity awards held by certain employees. During the year ended December 31, 2024, the Company repurchased 2.2 million shares for a total cost of $30.1 million. During the year ended December 31, 2023, the Company repurchased 1.3 million shares for a total cost of $16.0 million. During the year ended December 31, 2022, the Company repurchased 6.1 million shares for a total cost of $79.3 million.
v3.25.0.1
Net Loss Per Share
 12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Net Loss Per Share Net Income Per Share
Basic net income per share is computed using the weighted average number of common shares outstanding for the period. Diluted net income per share is computed using the weighted average number of common shares outstanding for the period plus potential dilutive common shares, including stock options, RSUs, PSUs and employee stock purchase rights, unless the potential common shares are anti-dilutive.

The following table presents common shares related to potentially dilutive shares excluded from the calculation of diluted net income per share as their effect would have been anti-dilutive (in thousands):
 Years Ended December 31,
 202420232022
Stock options, RSUs, PSUs and employee stock purchase rights23 93 94 
v3.25.0.1
Income Taxes
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The geographical breakdown of income before income taxes is as follows (in thousands):
Years Ended December 31,
202420232022
Domestic income$56,707 $41,105 $52,231 
Foreign income1,392 2,690 485 
Income before income taxes$58,099 $43,795 $52,716 

The provision for income taxes consisted of the following (in thousands):
Years Ended December 31,
202420232022
Current provision for income taxes:
Federal$3,894 $329 $— 
State1,809 2,016 1,107 
Foreign1,959 1,228 1,917 
Total current7,662 3,573 3,024 
Deferred tax expense (benefit):
  Federal$975 $1,374 $2,206 
  State(556)(1,265)656 
  Foreign(122)143 (78)
Total deferred297 252 2,784 
Provision for income taxes$7,959 $3,825 $5,808 

     The reconciliation of the statutory federal income taxes and the provision for income taxes is as follows (in thousands, except percentages):
Years Ended December 31,
202420232022
AmountPercentageAmountPercentageAmountPercentage
Tax at statutory rate$12,201 21.0 %$9,197 21.0 %$11,070 21.0 %
State tax - net of federal benefits763 1.3 751 1.7 1,531 2.9 
Foreign rate differential1,606 2.8 954 2.2 1,737 3.3 
Changes in federal valuation allowance— — 210 0.5 — — 
Stock-based compensation108 0.2 (1,083)(2.5)(1,992)(3.8)
Non-deductible meals and entertainment expenses289 0.5 398 0.9 252 0.5 
Other permanent items— — 5 — 73 0.1 
Federal tax credits - net of uncertain tax positions(3,959)(6.8)(4,047)(9.2)(3,844)(7.3)
Amended return true-up(162)(0.3)(8)— (4,176)(7.9)
Foreign-derived intangible income deduction(3,699)(6.4)(3,585)(8.2)— — 
162(m) limitation on officers compensation873 1.5 1,221 2.8 998 1.9 
Other(61)(0.1)(188)(0.4)159 0.3 
$7,959 13.7 %$3,825 8.7 %$5,808 11.0 %
Deferred tax balances are comprised of the following (in thousands):
As of December 31, 2024As of December 31, 2023
Deferred tax assets:
Net operating loss carryforwards$3,561 $3,799 
Research and development credits, net of uncertain tax positions29,217 36,592 
Accruals, reserves and other19,086 18,433 
Stock-based compensation2,040 1,475 
Depreciation and amortization(1,293)(1,052)
Operating lease liability2,728 3,669 
Capitalized research and development expenses30,985 23,497 
Gross deferred tax assets86,324 86,413 
Valuation allowance(18,569)(17,588)
Total deferred tax assets67,755 68,825 
Deferred tax liabilities:
Deferred contract acquisition costs(2,560)(2,429)
Operating lease right-of-use asset(2,610)(3,533)
Other(221)(138)
Total deferred tax liabilities(5,391)(6,100)
Net deferred tax assets$62,364 $62,725 

Recognition of deferred tax assets is appropriate when realization of these assets is more likely than not. Primarily based upon a strong earnings history, expectation of future taxable income, with the exception of certain state tax attributes, we believe that a significant amount of the deferred tax assets would be realized on a more likely than not basis. Therefore, we released the valuation allowance on our U.S. deferred tax assets except for state credits in 2021. For the years ended December 31, 2024 and 2023, the valuation allowance increased by $1.0 million and $2.0 million, respectively.

Companies subject to the Global Intangible Low-Taxed Income provision (“GILTI”) have the option to account for the GILTI tax as a period cost if and when incurred, or to recognize deferred taxes for outside basis temporary differences expected to reverse as GILTI. We have elected to account for GILTI as a period cost.

As of December 31, 2024 and 2023, we had no U.S. federal NOL carryforward balance. As of December 31, 2024 and 2023, we had state NOL carryforwards of $51.0 million and $54.9 million, respectively. The state NOL carryforwards expire in various years beginning in 2025, if not utilized.

Additionally, as of December 31, 2024 and 2023, we had U.S. federal research and development credit carryforwards of $14.8 million and $22.8 million, respectively, and state research and development credit carryforwards of $27.1 million and $25.3 million, respectively. The federal credit carryforwards will begin to expire at various dates beginning in 2031 while the state credit carryforwards can be carried over indefinitely.

Utilization of the NOL and credit carryforwards may be subject to an annual limitation provided for in IRC Sections 382 and 383 and similar state codes. Any annual limitation could result in the expiration of NOL and credit carryforwards before utilization. The Company believes NOL’s will not expire unused as a result of any Section 382 annual limitations.

Additionally, as of December 31, 2024, we had no U.S. foreign tax credit carryforwards and, as of December 31, 2023, we had $0.4 million of U.S. foreign tax credit carryforwards.

With respect to our undistributed foreign subsidiaries’ earnings, we consider those earnings to be indefinitely reinvested and, accordingly, no related provision for U.S. federal and state income taxes has been provided. Our intention has not changed subsequent to the one-time transition tax under the Tax Cuts and Jobs Act of 2017 (the “Tax Act”). Upon distribution of those earnings in the form of dividends or otherwise, we may be subject to both U.S. income taxes subject to an adjustment for foreign tax credits and withholding taxes in the various countries. As of December 31, 2024 and 2023, the
undistributed earnings approximated $18.6 million and $18.5 million, respectively. Our undistributed earnings through December 31, 2017, have been taxed under the one-time transition tax under the Tax Act.

The Tax Cuts and Jobs Act of 2017 (“TCJA”) amended Section 174 to require research and experimental (“R&E”) expenses incurred in tax years beginning on or after January 1, 2022, to be capitalized and amortized over five years (fifteen years for expenditures attributable to R&E activity performed outside the U.S.) using a half-year convention. Prior to the amendment, Section 174 expenses were allowed to be expensed in the year incurred. In 2024, the Company is capitalizing $41.5 million of US R&E expenses (amortizable over 5 years) and $16.3 million of R&E expenses performed outside the US (amortizable over 15 years) which results in unfavorable book/tax differences as a temporary adjustment. Since the Section 174 impact is a temporary difference, no material impact to tax expense is expected.

Uncertain Tax Positions

As of December 31, 2024, 2023 and 2022, we had gross unrecognized tax benefits of $8.1 million, $7.6 million and $7.1 million, respectively. Accrued interest expense related to unrecognized tax benefits is recognized as part of our income tax provision in our consolidated statements of operations and was immaterial for the years ended December 31, 2024, 2023 and 2022. Our policy for classifying interest and penalties associated with unrecognized income tax benefits is to exclude such items in income tax expense.

The activity related to the unrecognized tax benefits is as follows (in thousands):
Years Ended December 31,
202420232022
Gross unrecognized tax benefits—beginning balance$7,575 $7,077 $6,841 
Increases (decreases) related to tax positions from prior years— 27 (226)
Increases related to tax positions taken during current year576 580 462 
Releases / statute lapses(76)(109)— 
Gross unrecognized tax benefits—ending balance$8,075 $7,575 $7,077 

These amounts are related to certain deferred tax assets with a corresponding valuation allowance. As of December 31, 2024, the total amount of unrecognized tax benefits, if recognized, that would affect the effective tax rate is $3.7 million. We do not anticipate a material change to our unrecognized tax benefits over the next twelve months. Unrecognized tax benefits may change during the next twelve months for items that arise in the ordinary course of business.

The Company is subject to taxation in the U.S., various states, and several foreign jurisdictions. Because the Company has NOL and credit carryforwards, there are open statutes of limitations in which federal, state and foreign taxing authorities may examine our tax returns for all years from 2005 through the current period. The Company is not currently under examination by any taxing authorities.
v3.25.0.1
Geographic Information
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Geographic Information Segment and Geographic Information
ASC 280 Segment Reporting, establishes standards for reporting information about operating segments. Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker ("CODM") to assess performance and to decide how to allocate resources. The Company manages its business on the basis of one reportable segment and unit and derives revenues from two sources: products revenue and services revenue. See Note 1 Description of Business and Summary of Significant Accounting Policies for additional information.

The Company’s CODM is our Chief Executive Officer, Dhrupad Trivedi. Our CODM assesses the performance of the Company and decides how to allocate resources based upon consolidated net income, which is also reported within the consolidated statements of operations. The CODM uses consolidated net income to monitor period-over-period results, to assess financial performance and decide where to allocate additional resources within the business. The CODM does not regularly review significant classifications of expenses outside those shown on the consolidated statements of operations.

The following table depicts the disaggregation of revenue by geographic region based on the ship to location of our customers and is consistent with how we evaluate our financial performance (in thousands):
 Years Ended December 31,
 202420232022
Americas$134,356 $132,745 $148,673 
United States117,707 113,766 129,397 
Americas-other16,649 18,979 19,276 
APJ87,175 77,606 89,702 
EMEA40,165 41,349 41,963 
Total$261,696 $251,700 $280,338 
The Americas region comprises the U.S. and all other countries in the Americas (excluding the U.S.). The APJ region comprises all countries in the Asia Pacific region including Japan. The EMEA region comprises Europe, Middle East and Africa.

The following table is a summary of our long-lived assets which include property and equipment, net and right-of-use assets based on the physical location of the assets (in thousands):
 As of December 31, 2024As of December 31, 2023
Americas$48,468 $43,782 
Japan363 1,096 
Other1,850 1,374 
Total$50,681 $46,252 
v3.25.0.1
Employee Benefit Plan
 12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Employee Benefit Plans Employee Benefit Plan
The Company has a profit sharing plan that qualifies under IRC Section 401(k), which is offered to all of its U.S. employees. Participants in the plan may elect to contribute up to $23,000 of their annual compensation to the plan for the 2024 calendar year and $23,500 for the 2025 calendar year. Individuals who are 50 or older may contribute an additional $7,500 of their annual income in both 2024 and 2025. The Company typically matches 50% of the first 6% of the employee’s eligible compensation for a maximum employer contribution of $2,500 per participant per year. The Company’s matching contributions totaled $1.1 million, $1.2 million and $1.1 million during the years ended December 31, 2024, 2023 and 2022, respectively.
v3.25.0.1
Subsequent Events
 12 Months Ended
Dec. 31, 2024
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
On February 4, 2025, the Company announced its Board of Directors declared a quarterly dividend. The dividend, in the amount of $0.06 per share of common stock outstanding, will be paid on March 3, 2025, to stockholders of record on February 14, 2025 as a return of capital. Future dividends will be subject to further review and approval by the Board in
accordance with applicable law. The Board of Directors reserves the right to adjust or withdraw the quarterly dividend in future periods as it reviews the Company’s capital allocation strategy from time to time.

In February 2025, the Company acquired the assets and key personnel of ThreatX Protect, which expanded its cybersecurity portfolio with WAAP protection (web application and application programming interfaces). The total purchase price was approximately $19.5 million and was funded with cash on hand. The Company is in the process of completing its appraisals of tangible and intangible assets relating to this acquisition and the allocation of the purchase price to the assets acquired and liabilities assumed will be completed once the appraisal process has been finalized.
v3.25.0.1
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pay vs Performance Disclosure      
Net loss $ 50,140 $ 39,970 $ 46,908
v3.25.0.1
Insider Trading Arrangements
 3 Months Ended 12 Months Ended
Dec. 31, 2024
shares
Dec. 31, 2024
shares
Trading Arrangements, by Individual    
Non-Rule 10b5-1 Arrangement Adopted false  
Rule 10b5-1 Arrangement Terminated false  
Non-Rule 10b5-1 Arrangement Terminated false  
Dhrupad Trivedi [Member]    
Trading Arrangements, by Individual    
Material Terms of Trading Arrangement   On November 27, 2024, Dhrupad Trivedi, President, Chief Executive Officer and Chairman of the Board of Directors, adopted a trading plan intended to satisfy Rule 10b5-1(c) with respect to the sale of up to 80,438 shares of our common stock between February 27, 2025 and March 3, 2025 (unless earlier terminated pursuant to the terms of the plan)
Name Dhrupad Trivedi  
Title President, Chief Executive Officer and Chairman of the Board of Directors  
Rule 10b5-1 Arrangement Adopted true  
Adoption Date November 27, 2024  
Arrangement Duration 4 days  
Aggregate Available 80,438 80,438
v3.25.0.1
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.0.1
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
We have established processes to assess, identify, and manage significant risks from cybersecurity threats as part of our broader enterprise-wide risk management system and processes, which is overseen by our Board of Directors and our Audit Committee, along with our executive management. Our cybersecurity policies, standards, processes, and practices are part of our information security management program, which is aligned to ISO 27001, an international standard to manage information security. ISO 27001 is published by the International Organization for Standardization (ISO), the world's largest developer of voluntary standards, and the International Electrotechnical Commission (IEC).
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block] Our cybersecurity policies, standards, processes, and practices are part of our information security management program, which is aligned to ISO 27001, an international standard to manage information security. ISO 27001 is published by the International Organization for Standardization (ISO), the world's largest developer of voluntary standards, and the International Electrotechnical Commission (IEC).
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block] Our Board of Directors, executive management and Audit Committee are actively engaged in the oversight of IT risk management, including cybersecurity risk. Executive management and the Audit Committee share responsibility for overseeing our risk exposure to information security, cybersecurity, and data protection, as well as the steps management has taken to monitor and control such exposure. The Board of Directors, executive management and the Audit Committee receive quarterly reports on IT controls and information security. Additionally, on at least an annual basis, the Audit Committee reviews and discusses with management our policies and programs with respect to the oversight of IT risk and cybersecurity threats.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]
Oversight for assessing and managing cybersecurity risk is performed by our IT cybersecurity team, with additional oversight performed by our Human Resources, Internal Audit and Legal Departments. Our executive management is briefed at least quarterly from these teams. Members of the Board of Directors, Audit Committee, and executive management are also encouraged to regularly engage in ad hoc conversations with management on cybersecurity-related news events and discuss any updates to our cybersecurity risk management and strategy programs.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] Our executive management, the Audit Committee, and the Board of Directors are notified of any significant cybersecurity incidents through an escalation process that is established in our incident response plan and incorporated into our disclosure controls and procedures. Additionally, we maintain a third-party vendor relationship which is available to the team for on-demand incident response and investigation, as needed.
Cybersecurity Risk Role of Management [Text Block] Oversight for assessing and managing cybersecurity risk is performed by our IT cybersecurity team, with additional oversight performed by our Human Resources, Internal Audit and Legal Departments. Our executive management is briefed at least quarterly from these teams.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]
Oversight for assessing and managing cybersecurity risk is performed by our IT cybersecurity team, with additional oversight performed by our Human Resources, Internal Audit and Legal Departments. Our executive management is briefed at least quarterly from these teams. Members of the Board of Directors, Audit Committee, and executive management are also encouraged to regularly engage in ad hoc conversations with management on cybersecurity-related news events and discuss any updates to our cybersecurity risk management and strategy programs.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] Our IT cybersecurity team is led by our Head of Information Security, Sean Pike. Mr. Pike has over 25 years of experience leading and scaling cybersecurity practices across regulated industry and critical infrastructure. Most recently, he served as Chief Information Security Officer at Business Wire, where he was responsible for transforming the security and compliance organizations to meet the needs of a globally distributed SaaS newswire. Prior to Business Wire, Mr. Pike held leadership positions at VMware, IDC, and Nielsen Radio.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] The Board of Directors, executive management and the Audit Committee receive quarterly reports on IT controls and information security. Additionally, on at least an annual basis, the Audit Committee reviews and discusses with management our policies and programs with respect to the oversight of IT risk and cybersecurity threats.
Oversight for assessing and managing cybersecurity risk is performed by our IT cybersecurity team, with additional oversight performed by our Human Resources, Internal Audit and Legal Departments. Our executive management is briefed at least quarterly from these teams. Members of the Board of Directors, Audit Committee, and executive management are also encouraged to regularly engage in ad hoc conversations with management on cybersecurity-related news events and discuss any updates to our cybersecurity risk management and strategy programs.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.0.1
Description of Business and Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Presentation
Basis of Presentation
The accompanying consolidated financial statements include those of A10 Networks, Inc. and its subsidiaries, and have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the United States Securities and Exchange Commission (the “SEC”). All intercompany accounts and transactions have been eliminated in consolidation.
Use of Estimates
Use of Estimates

The preparation of consolidated financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Those estimates and assumptions affect revenue recognition and deferred revenue, the allowance for credit losses for potential uncollectible amounts, the sales return reserve, the valuation of inventory, the fair value of marketable securities, contingencies and litigation, accrued liabilities, deferred commissions and the determination of fair value of stock-based compensation. These estimates are based on information available as of the date of the consolidated financial statements; therefore, actual results could differ from management’s estimates.
Cash and Cash Equivalents
Cash and Cash Equivalents
Cash and cash equivalents include bank deposits and short-term, highly liquid investments purchased with an original maturity of 90 days or less. Our cash equivalents consist of money market funds.
Marketable securities
Marketable Securities
We classify our investments in debt securities as available-for-sale and record these investments at fair value. We may sell these investments at any time before their maturity dates. Accordingly, we classify our securities, including those with maturities exceeding twelve months, as current assets and include them in marketable securities in the consolidated balance sheets. Unrealized gains and losses are reported in accumulated other comprehensive income (loss), net of taxes, in the consolidated statements of stockholders’ equity. Realized gains and losses are determined based on the specific identification method. Realized gains and losses and credit allowances and impairments due to credit losses, if any, on marketable securities are reported in interest and other income, net as incurred in the consolidated statements of operations.
We regularly review our investment portfolio for impairment. If the estimated fair value of available-for-sale debt securities is less than its amortized cost basis, we determine if the difference, if any, is caused by expected credit losses and write-down the amortized cost basis of the securities if it is more likely than not we will be required or we intend to sell the securities before recovery of its amortized cost basis. Allowances for credit losses and write-downs are recognized in the non-operating income (expense) section of our consolidated statements of operations.

The Company also invests in equity securities with readily determinable fair values which consist of investments in publicly traded companies. These investments are measured at fair value with changes in fair value recognized in non-operating income (expense) in our consolidated statements of operations.
Fair Value Measurement
Fair Value Measurement
Our financial instruments consist of cash, cash equivalents, marketable securities, accounts receivable and accounts payable. Our cash equivalents are measured and recorded at fair value on a recurring basis. Marketable securities are typically comprised of certificates of deposit, corporate securities, U.S. Treasury and agency securities, commercial paper, asset-backed securities and publicly trader equity securities and are measured at fair value on a recurring basis. The Company determines whether a credit loss exists for available-for-sale debt securities in an unrealized loss position. When the fair value of a security is below its amortized cost, the amortized cost will be reduced to its fair value and the resulting loss will be recorded in our consolidated statements of operations, if it is more likely than not that we are required to sell the impaired security before recovery of its amortized cost basis, or we have the intention to sell the security. If neither of these conditions are met, the Company considers the extent to which the fair value is less than the amortized cost, any changes to the rating of the security by a rating agency, and review of the issuer's financial statements. If factors indicate a credit loss exists, an allowance for credit loss is recorded through other expense, net, limited by the amount that the fair value is less than the amortized cost basis.

For all available-for-sale debt securities, unrealized gains and the amount of unrealized loss relating to factors other than credit loss are reported as a separate component of accumulated other comprehensive loss in our consolidated balance sheets. Realized gains and losses are determined based on the specific identification method and are reported in our consolidated statements of operations.

Financial instruments recorded at fair value are measured and classified using the three-level valuation hierarchy as described below:

Level 1 — observable inputs for identical assets or liabilities, such as quoted prices in active markets.

Level 2 — inputs other than the quoted prices in active markets that are observable either directly or indirectly.

Level 3 — unobservable inputs in which there is little or no market data, which requires us to develop our own assumptions when pricing the financial instruments.
Accounts Receivable and Allowance for Doubtful Accounts
Accounts Receivable and Allowance for Credit Losses
Accounts receivable are unsecured and are recorded at invoice amounts, net of allowances for credit losses for any potential uncollectible amounts. We evaluate the collectability of our accounts receivable based on known collection risks and historical experience. We mitigate credit risk in respect to accounts receivable by performing periodic credit evaluations based on a number of factors, including past transaction experience, evaluation of credit history and review of the invoicing terms of the contract. We generally do not require our customers to provide collateral to support accounts receivable. In circumstances where we are aware of a specific customer’s inability to meet its financial obligations to us (for examples, bankruptcy filings or substantial downgrading of credit ratings), we record a specific allowance for credit losses against amounts due to reduce the net recognized receivable to the amount we reasonably believe will be collected. For all other customers, we record allowances for credit losses based on the length of time the receivables are past due and our historical experience of collections and write-offs.
Inventory
Inventory
Inventory is stated at the lower of cost or net realizable value. Inventory cost is determined using first-in, first-out method. We regularly evaluate inventory for excess and obsolete products. Most of our inventory provisions relate to excess quantities of certain products, based on our inventory levels and future product purchase commitments compared to assumptions based on management’s assessment of future demand and market conditions. Inventory write-downs, once established, are not reversed as they establish a new cost basis for the inventory. Inventory write downs are included as a component of cost of products revenue in the consolidated statements of operations.
Property and Equipment, Net
Property and Equipment, Net
Property and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation and amortization is computed using the straight-line method over the estimated useful lives of the related assets. Depreciation and amortization on property and equipment, excluding leasehold improvements, ranges from one to seven years.

Leasehold improvements are amortized on a straight-line basis over the shorter of the estimated useful lives of the assets or the remaining lease term. Remaining amortization terms on leasehold improvements as of December 31, 2024 ranged from approximately one to six years.
Leases
Leases
The Company determines if an arrangement is a lease at inception. For leases where the Company is the lessee, right-of-use (“ROU”) assets represent the Company’s right to use the underlying asset for the term of the lease and are included within other non-current assets in the consolidated balance sheets, and the lease liabilities represent an obligation to make lease payments arising from the lease and are recorded within accrued liabilities and other non-current liabilities in the consolidated balance sheets. Lease liabilities are recognized at the lease commencement date based on the present value of the future lease payments over the lease term. The Company uses its incremental borrowing rate based on the information available at the commencement date of the underlying lease arrangement to determine the present value of lease payments. The ROU asset is determined based on the lease liability initially established and reduced for any prepaid lease payments and any lease incentives received. The lease term to calculate the ROU asset and related lease liability includes options to extend or terminate the lease when it is reasonably certain that the Company will exercise the option. The Company’s lease agreements generally do not contain any material variable lease payments, residual value guarantees or restrictive covenants.

The Company elected the package of practical expedients permitted under the transition guidance, which allowed for the carry-forward of the Company’s historical lease classification and assessment on whether a contract is or contains a lease. The Company elected to not apply the new standard’s recognition requirements to leases with an initial term of 12 months or less and instead elected to recognize lease payments in the consolidated statements of operations on a straight-line basis over the lease term.

Lease expense for operating leases is recognized on a straight-line basis over the lease term as an operating expense while expense for financing leases is recognized as depreciation expense and interest expense using the accelerated interest method of recognition. The Company accounts for lease components and non-lease components as a single lease component.
Goodwill
Goodwill
Goodwill represents the excess of purchase consideration over the fair values of assets acquired and liabilities assumed in a business combination. Goodwill is not amortized but is reviewed for possible impairment annually in the fourth quarter or more frequently if impairment indicators arise. We have identified a single reporting unit for the purpose of our goodwill impairment tests, and the fair value of our reporting unit has been determined by our enterprise value. We may elect to utilize a qualitative assessment to determine whether it is more likely than not that the fair value of our reporting unit is less than its carrying value. If, after assessing the qualitative factors, we determine that it is more likely than not that the fair value of our reporting unit is less than its carrying value, an impairment analysis will be performed. We compare the fair value of our reporting unit with its carrying amount and if the carrying value of the reporting unit exceeds its fair value, an impairment loss will be recognized for the amount by which the carrying amount of a reporting unit exceeds its fair value up to the amount of goodwill. We did not identify impairment of goodwill for any periods presented.
Impairment of Long-Lived Assets
Impairment of Long-Lived Assets
We evaluate our property and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of our long-lived assets may not be recoverable. Recoverability of an asset group is measured by comparison of its carrying amount to the expected future undiscounted cash flows that the asset group is expected to generate. If it is determined that an asset group is not recoverable, an impairment loss is recorded in the amount by which the carrying amount of the asset group exceeds its fair value.
Revenue Recognition
Revenue Recognition
We recognize revenue, net of applicable taxes, when we transfer control of promised goods or services to our customers in an amount that reflects the consideration to which we expect to be entitled to in exchange for those goods or services.

We derive revenue from two sources: (i) products revenue, which includes hardware, perpetual software license and subscription offerings, which include term-based license agreements; and (ii) services revenue, which includes post contract support (“PCS”), professional services, training and software-as-a-service offerings. Revenue for term-based license agreements is recognized at a point in time when the Company delivers the software license to the customer and over time once the subscription term has commenced. For our software-as-a-service offerings, our customers do not take possession of the Company’s software but rather we provide access to the service via a hosting arrangement. Revenue in these arrangements is recognized over time as the services are provided. A substantial portion of our revenue is from sales of our products and services through distribution channel partners, such as resellers and distributors. We apply the following five-step revenue recognition model:

•Identification of the contract, or contracts, with a customer
•Identification of the performance obligations in the contract
•Determination of the transaction price
•Allocation of the transaction price to the performance obligations in the contract
•Recognition of revenue when, or as, performance obligations are satisfied.

Our customers predominantly purchase PCS services in conjunction with purchases of our products. PCS revenue includes arrangements for software support and technical support for our products. PCS is offered under renewable, fee-based contracts, which include technical support, hardware repair and replacement parts, bug fixes, patches, and unspecified upgrades on a when-and-if available basis. We recognize services revenue ratably over the term of the PCS contract, which is typically one year, but can be up to seven years. Billed but unearned PCS revenue is included in deferred revenue.

Professional service revenue primarily consists of the fees we earn related to installation and consulting services. We recognize revenue from professional services upon delivery or completion of performance. Professional service arrangements are typically short term in nature and are largely completed within 30 to 90 days from the start of service. Revenue is recognized for training when the training course is delivered.

Contracts with Multiple Performance Obligations

Most of our contracts with customers, other than renewals of PCS, contain multiple performance obligations with a combination of products and PCS. Products and PCS generally qualify as distinct performance obligations. Our hardware includes embedded ACOS software, which together deliver the essential functionality of our products. For contracts which contain multiple performance obligations, we allocate revenue to each distinct performance obligation based on the standalone selling price (“SSP”). Judgment is required to determine the SSP for each distinct performance obligation. We use a range of amounts to estimate SSP for products and PCS sold together in a contract to determine whether there is a discount to be allocated based on the relative SSP of the various products and PCS.

If we do not have an observable SSP, such as when we do not sell a product or service separately, then SSP is estimated using judgment and considering all reasonably available information such as market conditions and information about the size and/or purchase volume of the customer. We generally use a range of amounts to estimate SSP for individual products and services based on multiple factors including, but not limited to the sales channel (reseller, distributor or end-customer), the geographies in which our products and services are sold, and the size of the end-customer.

We account for multiple contracts with a single customer as one arrangement if the contractual terms and/or substance of those agreements indicate that they may be so closely related that they are, in effect, parts of a single contract.
We may occasionally accept returns to address customer satisfaction issues even though there is generally no contractual provision for such returns. We estimate returns for sales to customers based on historical return rates applied against current-period shipments. Specific customer returns and allowances are considered when determining our sales return reserve estimate.

Consequently, we have chosen to apply the portfolio approach when possible, which we do not believe will happen frequently. Additionally, we will evaluate a portfolio of data, when possible, in various situations, rights of return and transactions with variable consideration.

We report revenue net of sales taxes. We include shipping charges billed to customers in revenue and the related shipping costs are included in cost of product revenue.

Deferred Contract Acquisition Costs
We capitalize certain contract acquisition costs consisting of incremental sales commissions incurred to obtain customer contracts. Deferred commissions related to product revenues are recognized upon transfer of control to customers. Deferred commissions related to services revenue are recognized as the related performance obligations are met. Deferred commissions that will be recognized during the succeeding 12-month period are recorded as prepaid expenses and other current assets in the Company’s consolidated balance sheets, and the remaining portion is recorded as other non-current assets. Amortization of deferred commissions is included in sales and marketing expense in the consolidated statements of operations.
Research and Development Costs
Research and Development Costs
Research and development efforts are focused on new product development and on developing additional functionality for our existing products. These expenses consist of personnel costs, and to a lesser extent, prototype materials, depreciation and certain allocated facilities and information technology costs. We expense research and development costs as incurred.
Capitalization of Internal Use Software
Capitalization of Internal Use Software
The company capitalizes costs incurred during the application development stage associated with the development of internal-use software systems. We account for the capitalization of internal-use software under ASC Topic 350-40, Internal-Use Software. Capitalized costs are included in property and equipment, net on the Company’s consolidated balance sheet. Once a project is available for general release to customers, the accumulated capitalized costs associated with that project will begin to be amortized over the estimated useful life of the software.
Capitalization of Internally Developed Software to be Marketed and Sold
Capitalization of Internally Developed Software to be Marketed and Sold
We capitalize software engineering labor costs related to certain long-term projects that are expected to take more than a year to complete. We account for the capitalization of labor costs under Accounting Standards Codification (“ASC”) Topic 985-20, Software to be Sold, Leased or Marketed. Once a long-term project is available for general release to customers, the accumulated capitalized labor costs associated with that project will begin to be amortized over the expected revenue-generating life of that project and are recorded in cost of sales. In December 2022, we released the software portion of our first capitalized project and impaired the uncompleted hardware portion that we determined would not generate sufficient revenue to justify the cost of completing it. When internal-use software that was previously capitalized is abandoned, the cost less the accumulated amortization, if any, is recorded as an operating expense. In September 2023, we released our second capitalized project after we impaired a portion of it after we determined the full carrying value was not recoverable.
Stock-Based Compensation
Stock-Based Compensation
Stock-based compensation expense is measured on the grant date based on the fair value of the award and recognized on a straight-line basis over the requisite service period, reduced for actual forfeitures. The fair values of restricted stock units (“RSUs”) are estimated using our stock price at the close of the market on the grant date. The fair value of employee stock purchase rights is estimated using the Black-Scholes model on the grant date. The Black-Scholes model determines the fair value of share-based payment awards based on assumptions including expected term, stock price volatility and risk-free interest rate. Stock-based compensation expense related to shares not purchased due to terminations, or forfeitures, is reversed on the date of forfeiture. The fair values of market performance-based restricted stock units (“PSUs”) are estimated using the Monte Carlo simulation model, which uses the stock price, expected volatility and risk-free interest rate to determine the fair value.
Warranty Costs
Warranty Costs
Our appliance hardware and software generally carry a warranty period of 90 days. Estimates of future warranty costs are based on historical returns and the application of the historical return rates to our in-warranty installed base. Warranty costs to repair or replace items sold to customers have been insignificant for the years ended December 31, 2024, 2023 and 2022.
Foreign Currency
Foreign Currency
The functional currency of our foreign subsidiaries is the U.S. Dollar. Transactions denominated in non-functional currencies are remeasured to the functional currency at the average exchange rate for the period. Non-functional currency monetary assets and liabilities are remeasured to the functional currency using the exchange rate in effect at the balance sheet date, and non-monetary assets and liabilities are remeasured at historical exchange rates. Gains and losses related to remeasurement are recorded in interest and other income, net in the consolidated statements of operations.
Income Taxes
Income Taxes
We account for income taxes using the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in our consolidated financial statements or in our tax returns. Estimates and judgments occur in the calculation of certain tax liabilities and in the determination of the recoverability of certain deferred income tax assets, which arise from temporary differences and carryforwards. Deferred income tax assets and liabilities are measured using the currently enacted tax rates that apply to taxable income in effect for the years in which those tax assets are expected to be realized or settled. We regularly assess the likelihood that our deferred tax assets will be recovered from future taxable income and, to the extent we believe, based upon the weight of available evidence, that it is more likely than not that all or a portion of deferred tax assets will not be realized, a valuation allowance is established through an adjustment to income tax expense.

The factors used to assess the likelihood of realization of our deferred tax assets include our historical operating performance, our forecast of future taxable income and available tax planning strategies that could be implemented to realize the net deferred tax assets. Assumptions represent our best estimates and involve inherent uncertainties and the application of our judgment.

We account for uncertainty in income taxes recognized in our consolidated financial statements by regularly reviewing our tax positions and benefits to be realized. We recognize tax liabilities based upon our estimate of whether, and the extent to which, additional taxes will be due when such estimates are more-likely-than-not to be sustained. An uncertain income tax position will not be recognized if it has less than a 50% likelihood of being sustained upon examination by taxing authorities. The provision for (benefit from) income taxes excludes the effects of any resulting tax reserves, or unrecognized tax benefits, that are considered appropriate as well as the related net interest and penalties.
Advertising Costs
Advertising Costs
Advertising costs are expensed when incurred. Advertising costs were $0.1 million, $0.1 million and $0.2 million for the years ended December 31, 2024, 2023 and 2022, respectively.
Segment Information
Segment Information
An operating segment is a component of an enterprise for which its discrete financial information is available and its operating results are regularly reviewed by our chief operating decision maker for resource allocation decisions and performance assessment. Our chief operating decision maker is our Chief Executive Officer.

Our Chief Executive Officer reviews financial information presented on a consolidated basis for purposes of allocating resources and assessing performance of the Company. Accordingly, we have one reportable segment and one operating segment. See Note 11 Segment and Geographic Information in the accompanying notes to the consolidated financial statements for further detail.
Vendor Business Concentration
Vendor Business Concentration
We rely on third parties to manufacture our hardware appliances and we purchase raw materials from third-party vendors. We outsource substantially all of our manufacturing services to three independent manufacturers. In addition, we purchase certain strategic component inventory which is consigned to our third-party manufacturers. Other hardware components included in our products are sourced from various suppliers by our manufacturers and are principally industry standard parts and components that are available from multiple vendors.
Concentration of Credit Risk and Significant Customers
Concentration of Credit Risk and Significant Customers
Financial instruments that potentially subject us to concentrations of credit risk consist of cash, cash equivalents, marketable securities and accounts receivable. Our cash, cash equivalents and marketable securities are held and invested in high-credit quality financial instruments by recognized financial institutions and are subject to minimum credit risk.

Our accounts receivable are unsecured and represent amounts due to us based on contractual obligations of our customers. We mitigate credit risk in respect to accounts receivable by performing periodic credit evaluations based on a number of factors, including past transaction experience, evaluation of credit history and review of the invoicing terms of the contract. We generally do not require our customers to provide collateral to support accounts receivable.

Significant customers, including distribution channel partners and direct customers (“end-customers”), are those which represent 10% or more of our total revenue for each period presented or our gross accounts receivable balance as of each respective balance sheet date.

A substantial portion of our revenue is from sales of our products and services through distribution channel partners, such as resellers and distributors. In 2024 and 2023, sales through a single distribution channel partner represented 20% and 19% of our total revenue, respectively. In 2022, sales through two distribution channel partners represented 15% and 13% of our total revenue.
Recently Adopted Accounting Guidance/Recent Accounting Pronouncements Not Yet Effective
Recent Accounting Standards Not Yet Adopted

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires public entities, on an annual basis, to provide disclosure of specific categories in the rate reconciliation, as well as disclosure of income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. We are currently evaluating the impact of adopting ASU 2023-09.

In November 2024, the FASB issued ASU 2024-03, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, requiring public entities to disclose additional information about specific expense categories in the notes to the consolidated financial statements on an interim and annual basis. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and for interim periods beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2024-03.

Recently Adopted Accounting Standard

In November 2023, the Financial Accounting Standards Board, or the FASB, issued Accounting Standards Update, or ASU, 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires public entities to disclose information about their reportable segments’ significant expenses and other segment items on an interim and annual basis. Public entities with a single reportable segment are required to apply the disclosure requirements in ASU 2023-07, as well as all existing segment disclosures and reconciliation requirements in ASC 280, on an interim and annual basis. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company adopted ASU 2023-07 during the year ended December
31, 2024. See Note 11 Segment and Geographic Information in the accompanying notes to the consolidated financial statements for further detail.
There have been no other recent accounting pronouncements, changes in accounting pronouncements or recently adopted accounting guidance during the year ended December 31, 2024 that are of significance or potential significance to us.
v3.25.0.1
Description of Business and Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Revenue as Percentage of Total Revenue
Revenues from our significant end-customers as a percentage of our total revenue are as follows:
 Years Ended December 31,
202420232022
Customer A15%14%11%
Customer B**13%
* represents less than 10% of total revenue
v3.25.0.1
Marketable Securities and Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Available-for-sale Securities
Marketable securities, classified as available-for-sale, consisted of the following (in thousands):
As of December 31, 2024As of December 31, 2023
 Amortized CostGross Unrealized GainsGross Unrealized LossesFair ValueAmortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Corporate securities$52,311 $102 $(12)$52,401 $15,393 $2 $(2)$15,393 
U.S. Treasury and agency securities47,865 163 — 48,028 39,963 6 (32)39,937 
Commercial paper— — — — 998 — — 998 
Debt securities$100,176 $265 $(12)100,429 $56,354 $8 $(34)56,328 
Publicly held equity securities— 5,728 
Total marketable securities$100,429 $62,056 
Schedule of Cost and Estimated Fair Values of Available-for-sale Securities by Contractual Maturity
The following table summarizes the cost and estimated fair value of debt securities based on stated effective maturities as of December 31, 2024 (in thousands):
 Amortized CostFair Value
Less than 1 year$81,548 $81,682 
Mature in 1 - 3 years18,628 18,747 
Total$100,176 $100,429 
Schedule of gross unrealized losses
Marketable securities in an unrealized loss position consisted of the following (in thousands):
Less Than 12 Months12 Months or MoreTotal
As of December 31, 2024Fair ValueGross Unrealized LossesFair ValueGross Unrealized LossesFair ValueGross Unrealized Losses
Corporate securities$12,516 $(12)$— $— $12,516 $(12)
Total$12,516 $(12)$— $— $12,516 $(12)
Less Than 12 Months12 Months or MoreTotal
As of December 31, 2023Fair ValueGross Unrealized LossesFair ValueGross Unrealized LossesFair ValueGross Unrealized Losses
Corporate securities$9,418 $(2)$— $— $9,418 $(2)
U.S. Treasury and agency securities24,304 (32)— — 24,304 (32)
Total$33,722 $(34)$— $— $33,722 $(34)
Schedule of Cash, Cash Equivalents and Available-for-sale Investments Measured at Fair Value on Recurring Basis
The following is a summary of the Company’s cash, cash equivalents and marketable securities. The Company records cash and cash equivalents at cost, which approximates fair value. Marketable securities are measured at fair value on a recurring basis (in thousands):
 As of December 31, 2024As of December 31, 2023
 Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Cash$89,195 $— $— $89,195 $52,451 $— $— $52,451 
Cash equivalents5,934 — — 5,934 44,793 — — 44,793 
Corporate securities— 52,401 — 52,401 — 15,393 — 15,393 
U.S. Treasury and agency securities38,025 10,003 — 48,028 12,701 27,236 — 39,937 
Commercial paper— — — — — 998 — 998 
$133,154 $62,404 $— 195,558 $109,945 $43,627 $— 153,572 
Publicly held equity securities - Level 1— 5,728 
Total$195,558 $159,300 
v3.25.0.1
Revenue (Tables)
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Contract with Customer, Asset and Liability
The following table reflects contract balances with customers (in thousands):
Balance Sheet Line ReferenceAs of December 31, 2024As of December 31, 2023As of December 31, 2022
Accounts receivable, net$76,687 $74,307 $72,928 
Deferred revenue, current78,335 82,657 74,340 
Deferred revenue, non-current69,924 58,677 52,652 
Schedule of Deferred Revenue
Deferred revenue consisted of the following (in thousands):
 As of December 31, 2024As of December 31, 2023As of December 31, 2022
Deferred revenue:  
Products$4,405 $14,917 $7,782 
Services143,854 126,417 119,210 
Total deferred revenue148,259 141,334 126,992 
Less: current portion(78,335)(82,657)(74,340)
Non-current portion$69,924 $58,677 $52,652 
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction
The Company expects to recognize revenue on the remaining performance obligations as follows (in thousands):
 As of December 31, 2024
Within 1 year$78,335 
Next 2 to 3 years57,956 
Thereafter11,968 
Total$148,259 
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Leases (Tables)
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Assets And Liabilities,
The table below presents the Company’s right-of-use assets and lease liabilities as of December 31, 2024 (in thousands):
As of December 31, 2024
Operating leases
Right-of-use assets:
Other non-current assets$11,539 
Total right-of-use assets$11,539 
Lease liabilities:
Accrued liabilities$4,744 
Other non-current liabilities7,194 
Total operating lease liabilities$11,938 
Lease Payments
The aggregate future lease payments for the Company’s operating leases as of December 31, 2024 were as follows (in thousands):
2025$4,978 
20264,913 
20272,441 
Total lease payments12,332 
Less: imputed interest(394)
Present value of lease liabilities$11,938 
Lease Costs
The components of lease costs were as follows (in thousands):
Year Ended
December 31, 2024
Operating lease costs$4,314 
Short-term lease costs536 
Total lease costs$4,850 
Average lease terms and discount rates for the Company’s operating leases were as follows (in thousands):
As of December 31, 2024
Weighted-average remaining term (in years)2.5
Weighted-average discount rate3.18 %

Supplemental cash flow information for the Company’s operating leases were as follows (in thousands):
Year Ended
December 31, 2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$5,403 
Right-of-use assets obtained in exchange for new lease liabilities$— 
v3.25.0.1
Other Balance Sheet Accounts Details (Tables)
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Schedule of Allowance for Doubtful Accounts
The following table presents the changes in the Company’s accounts receivable allowance for credit losses (in thousands):
 As of December 31, 2024As of December 31, 2023
Allowance for credit losses, beginning balance$405 $32 
Increase (decrease) in allowance1,067 1,181 
Write-offs(1,007)(808)
Allowance for credit losses, ending balance$465 $405 
Schedule of Inventory
Inventory consisted of the following (in thousands):
 As of December 31, 2024As of December 31, 2023
Raw materials$12,883 $15,473 
Finished goods9,122 8,049 
Total inventory$22,005 $23,522 
Schedule of Prepaid Expenses and Other Current Assets
Prepaid expenses and other current assets consisted of the following (in thousands):
 As of December 31, 2024As of December 31, 2023
Prepaid expenses$4,245 $6,143 
Deferred contract acquisition costs6,201 6,177 
Other2,592 2,375 
Prepaid expenses and other current assets$13,038 $14,695 
Schedule of Property and Equipment, Net
Property and equipment, net, consisted of the following (in thousands):
 Useful LifeAs of December 31, 2024As of December 31, 2023
(in years)
Equipment1 to 5$36,615 $31,174 
Software1 to 65,705 5,339 
Furniture and fixtures1 to 7531 520 
Leasehold improvementsLease term3,439 3,207 
Construction in progress22,651 13,731 
Property and equipment, gross68,941 53,971 
Less: accumulated depreciation(29,799)(24,095)
Property and equipment, net$39,142 $29,876 
Schedule of Other Assets, Noncurrent
Other non-current assets consisted of the following (in thousands):
As of December 31, 2024As of December 31, 2023
Right-of-use assets$11,539 $16,376 
Deferred contract acquisition costs4,814 4,371 
Deposits1,667 1,704 
Other4,694 1,626 
Total other non-current assets$22,714 $24,077 
Schedule of Accrued Liabilities
Accrued liabilities consisted of the following (in thousands):
As of December 31, 2024As of December 31, 2023
Accrued compensation and benefits$19,058 $7,633 
Accrued tax liabilities2,687 1,429 
Lease liabilities4,744 4,998 
Other6,207 7,328 
Total accrued liabilities$32,696 $21,388 
Other Noncurrent Liabilities
Other non-current liabilities consisted of the following (in thousands):
As of December 31, 2024As of December 31, 2023
Lease liabilities$7,194 $11,822 
Other295 365 
Total other non-current liabilities$7,489 $12,187 
v3.25.0.1
Commitments and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Operating Leases and Purchase Commitments
The following table summarizes our non-cancelable operating leases as of December 31, 2024 (in thousands):
Years Ending December 31,Operating Leases
2025$4,978 
20264,913 
20272,441 
Total$12,332 
v3.25.0.1
Equity Incentive Plans and Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Summary of Stock-based Compensation
A summary of our stock-based compensation expense is as follows (in thousands):
 Years Ended December 31,
 202420232022
Stock-based compensation by type of award:
Stock options$— $— $— 
Stock awards15,958 12,999 11,995 
Employee stock purchase rights1,090 1,082 1,336 
Total$17,048 $14,081 $13,331 
Stock-based compensation by category of expense:
Cost of revenue$2,022 $1,702 $1,556 
Sales and marketing3,946 3,722 4,556 
Research and development4,199 3,232 3,346 
General and administrative6,881 5,425 3,873 
Total$17,048 $14,081 $13,331 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
The fair values of employee stock purchase rights were estimated as of the grant date using the Black-Scholes option-pricing model with the following assumptions:
 Years Ended December 31,
202420232022
Expected term (in years)0.50.50.5
Risk-free interest rate5.0%5.3%0.9%
Expected volatility32%42%58%
Dividend rate1.50%1.80%1.25%
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions [Table Text Block]
The fair values of employee stock purchase rights were estimated as of the grant date using the Black-Scholes option-pricing model with the following assumptions:
 Years Ended December 31,
202420232022
Expected term (in years)0.50.50.5
Risk-free interest rate5.0%5.3%0.9%
Expected volatility32%42%58%
Dividend rate1.50%1.80%1.25%
Summary of Activity under Stock Option Plans
The following tables summarize our stock option activities and related information:
 Number of Shares
(thousands)		Weighted-Average Exercise Price Per ShareWeighted-Average Remaining Contractual Term
(years)
Aggregate Intrinsic Value (1)
(thousands)
Outstanding as of December 31, 202380 $4.63 
Granted— —   
Exercised(77)4.39  
Canceled(3)12.19   
Outstanding as of December 31, 2024— $— 0$— 
Vested and exercisable as of December 31, 2024— $— 0$— 
(1)The aggregate intrinsic value represents the excess of the closing price of our common stock of $18.40 as of December 31, 2024 over the exercise price of the outstanding in-the-money options.
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Grant Date Intrinsic Value [Table Text Block]
The intrinsic value of options exercised is as follows (in thousands):
 Years Ended December 31,
 202420232022
Intrinsic value of options exercised (1)
$822 $1,440 $5,744 
(1)Intrinsic value of options exercised is the difference between the closing price of our common stock at the time of exercise and the exercise price paid.
Summary of Restricted Stock Units Activity
The following table summarizes our restricted stock unit activities and related information:
Service-Based Restricted Stock Units (RSUs)Number of Shares
(thousands)		Weighted-Average Grant Date Fair Value Per ShareWeighted-Average Remaining Vesting Term
(years)
Nonvested as of December 31, 20232,360 $13.94 
Granted1,424 14.10 
Released(916)13.25 
Canceled(372)14.11 
Nonvested as of December 31, 20242,496 $14.26 1.42

The following table summarizes our market performance-based restricted stock unit activities and related information:
Market Performance-Based Restricted Stock Units (PSUs)Number of Shares
(thousands)		Weighted-Average Grant Date Fair Value Per ShareWeighted-Average Remaining Vesting Term
(years)
Nonvested as of December 31, 2023657 $10.32 
Granted363 11.51 
Released(243)7.88 
Canceled(31)11.99 
Nonvested as of December 31, 2024746 $11.63 2.63

The fair values of market performance-based restricted stock units were estimated as of the grant date using a Monte Carlo valuation model with the following assumptions:
 Years Ended December 31,
202420232022
Expected term (in years)4.04.04.0
Risk-free interest rate4.0%4.3%1.4%
Expected volatility52.01%50.20%47.98%
Dividend rate1.77%1.63%1.39%

Following is additional information pertaining to our stock award activities for both RSUs and PSUs (in thousands, except per share data):
 Years Ended December 31,
202420232022
Weighted-average grant date fair value of stock awards granted (per share)$13.57 $14.04 $13.76 
Total fair value of stock awards released (vested) during the period$14,044 $13,535 $12,226 
v3.25.0.1
Net Loss Per Share (Tables)
 12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Summary of Anti-dilutive Shares
The following table presents common shares related to potentially dilutive shares excluded from the calculation of diluted net income per share as their effect would have been anti-dilutive (in thousands):
 Years Ended December 31,
 202420232022
Stock options, RSUs, PSUs and employee stock purchase rights23 93 94 
v3.25.0.1
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Schedule of Income before Income Tax, Domestic and Foreign
The geographical breakdown of income before income taxes is as follows (in thousands):
Years Ended December 31,
202420232022
Domestic income$56,707 $41,105 $52,231 
Foreign income1,392 2,690 485 
Income before income taxes$58,099 $43,795 $52,716 
Schedule of Components of Income Tax Expense (Benefit)
The provision for income taxes consisted of the following (in thousands):
Years Ended December 31,
202420232022
Current provision for income taxes:
Federal$3,894 $329 $— 
State1,809 2,016 1,107 
Foreign1,959 1,228 1,917 
Total current7,662 3,573 3,024 
Deferred tax expense (benefit):
  Federal$975 $1,374 $2,206 
  State(556)(1,265)656 
  Foreign(122)143 (78)
Total deferred297 252 2,784 
Provision for income taxes$7,959 $3,825 $5,808 
Schedule of Effective Income Tax Rate Reconciliation The reconciliation of the statutory federal income taxes and the provision for income taxes is as follows (in thousands, except percentages):
Years Ended December 31,
202420232022
AmountPercentageAmountPercentageAmountPercentage
Tax at statutory rate$12,201 21.0 %$9,197 21.0 %$11,070 21.0 %
State tax - net of federal benefits763 1.3 751 1.7 1,531 2.9 
Foreign rate differential1,606 2.8 954 2.2 1,737 3.3 
Changes in federal valuation allowance— — 210 0.5 — — 
Stock-based compensation108 0.2 (1,083)(2.5)(1,992)(3.8)
Non-deductible meals and entertainment expenses289 0.5 398 0.9 252 0.5 
Other permanent items— — 5 — 73 0.1 
Federal tax credits - net of uncertain tax positions(3,959)(6.8)(4,047)(9.2)(3,844)(7.3)
Amended return true-up(162)(0.3)(8)— (4,176)(7.9)
Foreign-derived intangible income deduction(3,699)(6.4)(3,585)(8.2)— — 
162(m) limitation on officers compensation873 1.5 1,221 2.8 998 1.9 
Other(61)(0.1)(188)(0.4)159 0.3 
$7,959 13.7 %$3,825 8.7 %$5,808 11.0 %
Schedule of Deferred Tax Assets and Liabilities
Deferred tax balances are comprised of the following (in thousands):
As of December 31, 2024As of December 31, 2023
Deferred tax assets:
Net operating loss carryforwards$3,561 $3,799 
Research and development credits, net of uncertain tax positions29,217 36,592 
Accruals, reserves and other19,086 18,433 
Stock-based compensation2,040 1,475 
Depreciation and amortization(1,293)(1,052)
Operating lease liability2,728 3,669 
Capitalized research and development expenses30,985 23,497 
Gross deferred tax assets86,324 86,413 
Valuation allowance(18,569)(17,588)
Total deferred tax assets67,755 68,825 
Deferred tax liabilities:
Deferred contract acquisition costs(2,560)(2,429)
Operating lease right-of-use asset(2,610)(3,533)
Other(221)(138)
Total deferred tax liabilities(5,391)(6,100)
Net deferred tax assets$62,364 $62,725 
Schedule of Unrecognized Tax Benefits Roll Forward
The activity related to the unrecognized tax benefits is as follows (in thousands):
Years Ended December 31,
202420232022
Gross unrecognized tax benefits—beginning balance$7,575 $7,077 $6,841 
Increases (decreases) related to tax positions from prior years— 27 (226)
Increases related to tax positions taken during current year576 580 462 
Releases / statute lapses(76)(109)— 
Gross unrecognized tax benefits—ending balance$8,075 $7,575 $7,077 
v3.25.0.1
Geographic Information (Tables)
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Schedule of Total Revenue Based on Customer's Location
The following table depicts the disaggregation of revenue by geographic region based on the ship to location of our customers and is consistent with how we evaluate our financial performance (in thousands):
 Years Ended December 31,
 202420232022
Americas$134,356 $132,745 $148,673 
United States117,707 113,766 129,397 
Americas-other16,649 18,979 19,276 
APJ87,175 77,606 89,702 
EMEA40,165 41,349 41,963 
Total$261,696 $251,700 $280,338 
Long-lived Assets by Geographic Areas
The following table is a summary of our long-lived assets which include property and equipment, net and right-of-use assets based on the physical location of the assets (in thousands):
 As of December 31, 2024As of December 31, 2023
Americas$48,468 $43,782 
Japan363 1,096 
Other1,850 1,374 
Total$50,681 $46,252 
v3.25.0.1
Description of Business and Summary of Significant Accounting Policies - Additional Information (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
USD ($)
segment
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]      
Warranty period 90 days    
Advertising costs $ 100 $ 100 $ 200
Number of reportable segments | segment 1    
Number of operating segments | segment 1    
ROU asset $ 11,539 16,376  
Lease liability 11,938    
Capitalized Computer Software, Net $ 1,700 500 $ 2,100
Minimum      
New Accounting Pronouncements or Change in Accounting Principle [Line Items]      
Useful life 1 year    
Maximum      
New Accounting Pronouncements or Change in Accounting Principle [Line Items]      
Useful life 7 years    
Leasehold improvements | Minimum      
New Accounting Pronouncements or Change in Accounting Principle [Line Items]      
Useful life 1 year    
Leasehold improvements | Maximum      
New Accounting Pronouncements or Change in Accounting Principle [Line Items]      
Useful life 6 years    
ASU 2016-02      
New Accounting Pronouncements or Change in Accounting Principle [Line Items]      
ROU asset $ 11,500 $ 16,400  
v3.25.0.1
Description of Business and Summary of Significant Accounting Policies - Concentration Risk (Details) - Customer Concentration Risk
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Customer A | Revenue Benchmark      
Entity Wide Revenue Major Customer [Line Items]      
Percentage representation of significant customers (percent) 15.00% 14.00% 11.00%
Customer A | Accounts Receivable      
Entity Wide Revenue Major Customer [Line Items]      
Percentage representation of significant customers (percent) 34.00%    
Customer B | Revenue Benchmark      
Entity Wide Revenue Major Customer [Line Items]      
Percentage representation of significant customers (percent)     13.00%
Customer B | Accounts Receivable      
Entity Wide Revenue Major Customer [Line Items]      
Percentage representation of significant customers (percent)   19.00%  
Customer C | Revenue Benchmark      
Entity Wide Revenue Major Customer [Line Items]      
Percentage representation of significant customers (percent) 20.00% 19.00% 15.00%
Customer D | Revenue Benchmark      
Entity Wide Revenue Major Customer [Line Items]      
Percentage representation of significant customers (percent)     13.00%
v3.25.0.1
Marketable Securities and Fair Value Measurements - Estimate of Fair Value of Marketable Securities (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]      
Amortized Cost $ 100,176 $ 56,354  
Gross Unrealized Gains 265 8  
Gross Unrealized Losses (12) (34)  
Fair Value 100,429 56,328  
Other Short-Term Investments 0 5,728  
Marketable securities 100,429 62,056  
Marketable Security, Realized Gain (Loss)   300  
Impairment of Ongoing Project 900 3,000 $ 600
Corporate securities      
Debt Securities, Available-for-sale [Line Items]      
Amortized Cost 52,311 15,393  
Gross Unrealized Gains 102 2  
Gross Unrealized Losses (12) (2)  
Fair Value 52,401 15,393  
U.S. Treasury and agency securities      
Debt Securities, Available-for-sale [Line Items]      
Amortized Cost 47,865 39,963  
Gross Unrealized Gains 163 6  
Gross Unrealized Losses 0 (32)  
Fair Value 48,028 39,937  
Commercial paper      
Debt Securities, Available-for-sale [Line Items]      
Amortized Cost 0 998  
Gross Unrealized Gains 0 0  
Gross Unrealized Losses 0 0  
Fair Value $ 0 $ 998  
v3.25.0.1
Marketable Securities and Fair Value Measurements - Contractual Maturities (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Amortized Cost    
Less than 1 year $ 81,548  
Mature in 1 - 3 years 18,628  
Amortized Cost 100,176 $ 56,354
Fair Value    
Less than 1 year 81,682  
Mature in 1 - 3 years 18,747  
Fair Value $ 100,429 $ 56,328
v3.25.0.1
Marketable Securities and Fair Value Measurements - Securities in Unrealized Loss Position (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]      
Fair Value, Less Than 12 Months $ 12,516 $ 33,722  
Fair Value, 12 Months or More 0 0  
Fair Value, Total 12,516 33,722  
Gross Unrealized Losses, Less Than 12 Months (12) (34)  
Gross Unrealized Losses,12 Months or More 0 0  
Gross Unrealized Losses (12) (34)  
Corporate securities      
Debt Securities, Available-for-sale [Line Items]      
Fair Value, Less Than 12 Months 12,516   $ 9,418
Fair Value, 12 Months or More 0   0
Fair Value, Total 12,516   9,418
Gross Unrealized Losses, Less Than 12 Months (12)   (2)
Gross Unrealized Losses,12 Months or More 0   0
Gross Unrealized Losses $ (12)   $ (2)
U.S. Treasury and agency securities      
Debt Securities, Available-for-sale [Line Items]      
Fair Value, Less Than 12 Months   24,304  
Fair Value, 12 Months or More   0  
Fair Value, Total   24,304  
Gross Unrealized Losses, Less Than 12 Months   (32)  
Gross Unrealized Losses,12 Months or More   0  
Gross Unrealized Losses   $ (32)  
v3.25.0.1
Marketable Securities and Fair Value Measurements - Schedule of Fair Value of Securities (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Financial Assets    
Marketable Securities $ 100,429 $ 56,328
Cash, Cash Equivalents, and Short-Term Investments 195,558 153,572
Total 195,558 159,300
Other Short-Term Investments 0 5,728
Level 1    
Financial Assets    
Total 133,154 109,945
Level 2    
Financial Assets    
Total 62,404 43,627
Cash    
Financial Assets    
Cash and Cash Equivalents 89,195 52,451
Cash | Level 1    
Financial Assets    
Cash and Cash Equivalents 89,195 52,451
Cash equivalents    
Financial Assets    
Cash and Cash Equivalents 5,934 44,793
Cash equivalents | Level 1    
Financial Assets    
Cash and Cash Equivalents 5,934 44,793
Corporate securities    
Financial Assets    
Marketable Securities 52,401 15,393
Corporate securities | Level 2    
Financial Assets    
Marketable Securities 52,401 15,393
U.S. Treasury and agency securities    
Financial Assets    
Marketable Securities 48,028 39,937
U.S. Treasury and agency securities | Level 1    
Financial Assets    
Marketable Securities 38,025 12,701
U.S. Treasury and agency securities | Level 2    
Financial Assets    
Marketable Securities 10,003 27,236
Commercial paper    
Financial Assets    
Marketable Securities 0 998
Commercial paper | Level 2    
Financial Assets    
Marketable Securities $ 0 $ 998
v3.25.0.1
Revenue - Additional Information (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]      
Revenue recognized $ 80,700,000 $ 72,300,000  
Deferred revenue 148,259,000 141,334,000 $ 126,992,000
Deferred revenue, current (78,335,000) (82,657,000) (74,340,000)
Deferred revenue, non-current 69,924,000 58,677,000 52,652,000
Deferred contract acquisition costs, current 6,201,000 6,177,000  
Deferred contract acquisition costs, noncurrent 4,814,000 4,371,000  
Asset impairment charges for contract assets 0 0 0
Products      
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]      
Deferred revenue 4,405,000 14,917,000 7,782,000
Services      
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]      
Deferred revenue 143,854,000 126,417,000 119,210,000
Deferred Sales Commissions      
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]      
Deferred contract acquisition costs, current 6,200,000 6,200,000  
Deferred contract acquisition costs, noncurrent 4,800,000 4,400,000  
Amortization 5,900,000 5,500,000  
Impairment loss of contract acquisition costs $ 0 $ 0 $ 0
v3.25.0.1
Revenue - Contract Balances (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenue from Contract with Customer [Abstract]      
Deferred revenue, current $ 78,335 $ 82,657 $ 74,340
Deferred revenue, non-current 69,924 58,677 52,652
Deferred contract acquisition costs 6,201 6,177  
Accounts receivable, net of allowances of $465 and $405, respectively $ 76,687 $ 74,307 $ 72,928
v3.25.0.1
Revenue - Deferred Revenue (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Deferred Revenue Arrangement [Line Items]      
Total deferred revenue $ 148,259 $ 141,334 $ 126,992
Less: current portion (78,335) (82,657) (74,340)
Non-current portion 69,924 58,677 52,652
Products      
Deferred Revenue Arrangement [Line Items]      
Total deferred revenue 4,405 14,917 7,782
Services      
Deferred Revenue Arrangement [Line Items]      
Total deferred revenue $ 143,854 $ 126,417 $ 119,210
v3.25.0.1
Revenue - Remaining Performance Obligations (Details)
$ in Thousands
Dec. 31, 2024
USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 148,259
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation period 1 year
Remaining performance obligation $ 78,335
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation period 2 years
Remaining performance obligation $ 57,956
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation period
Remaining performance obligation $ 11,968
v3.25.0.1
Derivatives (Details) - Foreign Exchange Forward - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Not Designated as Hedging Instrument    
Derivative [Line Items]    
Derivative, notional amount $ 7.6 $ 34.5
Derivative contract term 30 days 30 days
Unrealized net loss on derivatives $ 0.2 $ (0.1)
Gain (loss) on derivative instruments 4.5 2.1
Designated as Hedging Instrument    
Derivative [Line Items]    
Derivative, notional amount $ 0.0 $ 10.8
Derivative contract term 30 days  
v3.25.0.1
Leases - Assets and Liabilities (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Leases [Abstract]    
Total right-of-use assets $ 11,539 $ 16,376
Accrued liabilities 4,744 4,998
Other non-current liabilities 7,194 $ 11,822
Total operating lease liabilities $ 11,938  
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] Other non-current assets Other non-current assets
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List] Accrued and other liabilities Accrued and other liabilities
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List] Other non-current liabilities Other non-current liabilities
v3.25.0.1
Leases - Lease Liabilities (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
May 02, 2019
Leases [Abstract]    
2026 $ 4,978  
2027 4,913  
2028 2,441  
Total lease payments 12,332 $ 33,800
Less: imputed interest (394)  
Present value of lease liabilities $ 11,938  
v3.25.0.1
Leases - Lease Costs (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
USD ($)
Leases [Abstract]  
Operating lease costs $ 4,314
Short-term lease costs 536
Total lease costs $ 4,850
Weighted-average remaining term (years) 2 years 6 months
Weighted-average discount rate 3.18%
Operating cash flows from operating leases $ 5,403
Right-of-use assets obtained in exchange for new lease liabilities $ 0
v3.25.0.1
Leases - Additional Information (Details) - USD ($)
$ in Thousands
May 02, 2019
Dec. 31, 2024
Dec. 31, 2023
New Accounting Pronouncements or Change in Accounting Principle [Line Items]      
Rent expense $ 262    
Lease payments $ 33,800 $ 12,332  
ROU asset   11,539 $ 16,376
Lease liabilities   4,744 4,998
Lease liabilities   7,194 11,822
ASU 2016-02      
New Accounting Pronouncements or Change in Accounting Principle [Line Items]      
ROU asset   11,500 16,400
Lease liabilities   4,700 5,000
Lease liabilities   $ 7,200 $ 11,800
v3.25.0.1
Other Balance Sheet Accounts Details - Schedule of Allowance for Doubtful Accounts (Details) - Allowance for Doubtful Accounts - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Allowance for Doubtful Accounts [Roll Forward]    
Allowance for credit losses, beginning balance $ 405 $ 32
Increase (decrease) in allowance 1,067 1,181
Write-offs (1,007) (808)
Allowance for credit losses, ending balance $ 465 $ 405
v3.25.0.1
Other Balance Sheet Accounts Details - Schedule of Inventory (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Inventory Disclosure [Abstract]    
Raw materials $ 12,883 $ 15,473
Finished goods 9,122 8,049
Total inventory $ 22,005 $ 23,522
v3.25.0.1
Other Balance Sheet Accounts Details - Prepaid Expenses and Other Current Assets (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Property, Plant and Equipment [Abstract]      
Prepaid expenses $ 4,245 $ 6,143  
Deferred contract acquisition costs 6,201 6,177  
Other 2,592 2,375  
Prepaid expenses and other current assets 13,038 14,695  
Capitalized Computer Software, Net $ 1,700 $ 500 $ 2,100
v3.25.0.1
Other Balance Sheet Accounts Details - Schedule of Property and Equipment, Net (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Property Plant And Equipment [Line Items]      
Depreciation $ 6,000 $ 4,600 $ 2,700
Property and equipment, gross 68,941 53,971  
Less: accumulated depreciation (29,799) (24,095)  
Property and equipment, net 39,142 29,876  
Impairment of Ongoing Project 900 3,000 600
Amortization 500 300  
Capitalized Computer Software, Net 1,700 500 $ 2,100
Equipment      
Property Plant And Equipment [Line Items]      
Property and equipment, gross 36,615 31,174  
Software      
Property Plant And Equipment [Line Items]      
Property and equipment, gross 5,705 5,339  
Furniture and fixtures      
Property Plant And Equipment [Line Items]      
Property and equipment, gross 531 520  
Leasehold improvements      
Property Plant And Equipment [Line Items]      
Property and equipment, gross 3,439 3,207  
Construction in progress      
Property Plant And Equipment [Line Items]      
Property and equipment, gross $ 22,651 $ 13,731  
Minimum      
Property Plant And Equipment [Line Items]      
Useful life 1 year    
Minimum | Leasehold improvements      
Property Plant And Equipment [Line Items]      
Useful life 1 year    
Maximum      
Property Plant And Equipment [Line Items]      
Useful life 7 years    
Maximum | Leasehold improvements      
Property Plant And Equipment [Line Items]      
Useful life 6 years    
v3.25.0.1
Other Balance Sheet Accounts Details - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Property, Plant and Equipment [Abstract]      
Depreciation expense $ 6.0 $ 4.6 $ 2.7
v3.25.0.1
Other Balance Sheet Accounts Details - Other Noncurrent Assets (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Property, Plant and Equipment [Abstract]    
Right-of-use assets $ 11,539 $ 16,376
Deferred contract acquisition costs 4,814 4,371
Deposits 1,667 1,704
Other 4,694 1,626
Total other non-current assets $ 22,714 $ 24,077
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] Total other non-current assets Total other non-current assets
v3.25.0.1
Other Balance Sheet Accounts Details - Accrued Liabilities (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Accrued Liabilities, Current [Abstract]    
Accrued compensation and benefits $ 19,058 $ 7,633
Accrued tax liabilities 2,687 1,429
Lease liabilities 4,744 4,998
Other 6,207 7,328
Total accrued liabilities $ 32,696 $ 21,388
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List] Total accrued liabilities Total accrued liabilities
v3.25.0.1
Other Balance Sheet Accounts Details - Other Noncurrent Liabilities (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Property, Plant and Equipment [Abstract]    
Lease liabilities $ 7,194 $ 11,822
Other 295 365
Total other non-current liabilities $ 7,489 $ 12,187
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List] Total other non-current liabilities Total other non-current liabilities
v3.25.0.1
Commitments and Contingencies - Operating Leases and Purchase Commitments (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating Leased Assets [Line Items]      
Rent expense $ 4,900 $ 4,900 $ 4,900
Operating Leases and Other Contractual Obligation      
Operating Leased Assets [Line Items]      
2026 4,978    
2027 4,913    
Other Commitment, to be Paid, Year Four 2,441    
Total lease payments $ 12,332    
v3.25.0.1
Commitments and Contingencies - Purchase Commitments (Details) - USD ($)
$ in Thousands
May 02, 2019
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]    
Rent expense $ 262  
Purchase Commitment, Remaining Minimum Amount Committed   $ 12,200
v3.25.0.1
Equity Incentive Plans and Stock-Based Compensation - 2014 Equity Incentive Plan/ESPP (Details) - USD ($)
$ / shares in Units, $ in Thousands
 1 Months Ended 12 Months Ended
Sep. 30, 2018
Jun. 10, 2015
Oct. 31, 2018
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Intrinsic value of options exercised       $ 822 $ 1,440 $ 5,744
Restricted Stock            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Granted (in shares)       1,424,261 1,315,210 1,230,180
Performance Stock Units            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Vesting period       4 years    
Granted (in shares)       363,445 326,630 314,538
Minimum | Restricted Stock            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Vesting period       3 years    
Maximum | Restricted Stock            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Vesting period       4 years    
2014 Stock Incentive Plan            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Expiration period       5 years    
2014 Stock Incentive Plan | Stock options            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Expiration period       10 years    
Vesting period       4 years    
2014 Stock Incentive Plan | Minimum            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Percentage of exercise price of fair value per share on grant date       110.00%    
2014 Stock Incentive Plan | Minimum | Non-Statutory Stock Options            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Percentage of exercise price of fair value per share on grant date       100.00%    
2014 Stock Incentive Plan | Minimum | Restricted Stock            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Vesting period       1 year    
2014 Stock Incentive Plan | Minimum | Performance Stock Units            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Vesting period       1 year    
2014 Stock Incentive Plan | Maximum            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Additional shares reserved for future issuance (in shares)   8,000,000        
Percentage of outstanding shares of common stock   5.00%        
Combined voting power of all classes of stock       10.00%    
2014 Stock Incentive Plan | Maximum | Restricted Stock            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Vesting period       4 years    
2014 Stock Incentive Plan | Maximum | Performance Stock Units            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Vesting period       4 years    
2014 Employee Stock Purchase Plan | ESPP            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Percentage of eligible compensation 15.00%          
Offering period 24 months          
Amended 2014 Employee Stock Purchase Plan | ESPP            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Number of shares available for future grant (in shares)       531,170    
Percentage of eligible compensation     10.00%      
Offering period     6 months      
Percentage of market value       85.00%    
Maximum number of shares per employee (in shares)       1,500    
ESPP            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Shares purchased (in shares)       281,107 274,937 434,547
Price per share (in dollars per share)       $ 11.69 $ 12.88 $ 7.46
Intrinsic value of options exercised       $ 1,200 $ 1,200 $ 2,100
v3.25.0.1
Equity Incentive Plans and Stock-Based Compensation - Schedule of Stock-based Compensation Awards Granted under Stock Option Plan in Consolidated Statements of Operations (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Stock-based compensation $ 17,048 $ 14,081 $ 13,331
Cost of revenue      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Stock-based compensation 2,022 1,702 1,556
Sales and marketing      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Stock-based compensation 3,946 3,722 4,556
Research and development      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Stock-based compensation 4,199 3,232 3,346
General and administrative      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Stock-based compensation 6,881 5,425 3,873
Stock options      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Stock-based compensation 0 0 0
Stock awards      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Stock-based compensation 15,958 12,999 11,995
Employee stock purchase rights      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Stock-based compensation $ 1,090 $ 1,082 $ 1,336
v3.25.0.1
Equity Incentive Plans and Stock-Based Compensation - Stock-based Compensation/Stock Repurchase Program (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
Share-Based Payment Arrangement [Abstract]  
Total compensation expense related to unvested awards granted, not yet recognized $ 32.7
Total compensation expense related to unvested awards granted, not yet recognized weighted-average period for recognition (in years) 2 years 6 months
v3.25.0.1
Equity Incentive Plans and Stock-Based Compensation - Fair Value Determination (Details) - USD ($)
 3 Months Ended 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Dividends, Cash $ 0.06 $ 0.05      
Dividends per common share (dollars per share)     $ 0.24 $ 0.24 $ 0.24
Stock Options          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Expected term (in years)     0 years    
Employee Stock Purchase Rights          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Risk-free interest rate     5.00%    
Expected volatility     32.00%    
Dividend rate     1.50%    
v3.25.0.1
Equity Incentive Plans and Stock-Based Compensation - Summary of Activity under Stock Option Plans (Details)
$ / shares in Units, shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2024
USD ($)
$ / shares
shares
Number of Shares (thousands)  
Outstanding options, Beginning balance (in shares) | shares 80
Granted (in shares) | shares 0
Exercised (in shares) | shares (77)
Canceled (in shares) | shares (3)
Outstanding options, Ending balance (in shares) | shares 0
Vested and exercisable (in shares) | shares 0
Weighted-Average Exercise Price Per Share  
Beginning balance (in dollars per share) $ 4.63
Granted (in dollars per share) 0
Exercised (in dollars per share) 4.39
Canceled (in dollars per share) 12.19
Ending balance (in dollars per share) 0
Vested and exercisable at end of period (in dollars per share) $ 0
Weighted-average remaining contractual term (in years) 0 years
Weighted average remaining contractual term, Vested and exercisable at end of period (in years) 0 years
Aggregate Intrinsic Value | $ $ 0
Aggregate Intrinsic Value, Vested and exercisable at end of period | $ $ 0
Closing price (in dollars per share) $ 18.40
Document Period End Date Dec. 31, 2024
v3.25.0.1
Equity Incentive Plans and Stock-Based Compensation - Information about Stock Option Activity (Details) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]      
Intrinsic value of options exercised $ 822 $ 1,440 $ 5,744
Dividends per common share (dollars per share) $ 0.24 $ 0.24 $ 0.24
v3.25.0.1
Equity Incentive Plans and Stock-Based Compensation - Information About Stock Options (Details) - PSUs, December 2019
 1 Months Ended
Dec. 31, 2019
Tranche One  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Vesting percentage 33.00%
Tranche Two  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Vesting percentage 33.00%
Tranche Three  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Vesting percentage 33.00%
v3.25.0.1
Equity Incentive Plans and Stock-Based Compensation - Summary of RSU and PSU activity (Details) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Restricted Stock Units (RSUs) and Performance Stock Units (PSUs)      
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]      
Granted (in dollars per share) $ 13.57 $ 14.04 $ 13.76
Total fair value of stock awards released (vested) during the period $ 14,044 $ 13,535 $ 12,226
Performance Stock Units      
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]      
Unvested at end of period (in shares) 746,422    
Restricted Stock Units (RSUs)      
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]      
Unvested at beginning of period (in shares) 2,360,000    
Granted (in shares) 1,424,261 1,315,210 1,230,180
Released (in shares) (916,000)    
Canceled (in shares) (372,000)    
Unvested at end of period (in shares) 2,496,267 2,360,000  
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]      
Unvested at beginning of period (in dollars per share) $ 13.94    
Granted (in dollars per share) 14.10    
Released (in dollars per share) 13.25    
Canceled (in dollars per share) 14.11    
Unvested at ending of period (in dollars per share) $ 14.26 $ 13.94  
Weighted-Average Remaining Vesting Term (years) 1 year 5 months 1 day    
Performance Stock Units      
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]      
Unvested at beginning of period (in shares) 657,000    
Granted (in shares) 363,445 326,630 314,538
Released (in shares) (243,000)    
Canceled (in shares) (31,000)    
Unvested at end of period (in shares) 746,000 657,000  
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]      
Unvested at beginning of period (in dollars per share) $ 10.32    
Granted (in dollars per share) 11.51    
Released (in dollars per share) 7.88    
Canceled (in dollars per share) 11.99    
Unvested at ending of period (in dollars per share) $ 11.63 $ 10.32  
Weighted-Average Remaining Vesting Term (years) 2 years 7 months 17 days    
Dividend rate 1.77% 1.80% 1.39%
Expected term (in years) 4 years 6 months 4 years
Risk-free interest rate 4.00% 5.30% 1.40%
Expected volatility 52.01% 42.00% 47.98%
v3.25.0.1
Equity Incentive Plans and Stock-Based Compensation - Repurchase Agreement (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 12 Months Ended
Nov. 14, 2024
Sep. 08, 2022
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]          
Treasury Stock, Shares, Acquired 330 3,500 2,200 1,300 6,100
Treasury Stock, Value, Acquired, Cost Method $ 5,200 $ 44,600 $ 30,100 $ 16,000 $ 79,300
Treasury Stock Acquired, Average Cost Per Share $ 15.73 $ 12.75      
v3.25.0.1
Equity Incentive Plans and Stock-Based Compensation - Stock Repurchase Plan (Details) - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Nov. 14, 2024
Sep. 08, 2022
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Nov. 07, 2024
Nov. 07, 2023
Nov. 01, 2022
Share-Based Payment Arrangement [Abstract]                
Share Repurchase Program, Authorized, Amount           $ 50,000 $ 50,000 $ 50,000
Treasury Stock, Value, Acquired, Cost Method $ 5,200 $ 44,600 $ 30,100 $ 16,000 $ 79,300      
Share Repurchase Program, Remaining Authorized, Amount     $ 44,200          
Treasury Stock, Shares, Acquired 330 3,500 2,200 1,300 6,100      
v3.25.0.1
Net Loss Per Share - Summary of Outstanding Shares of Common Stock Equivalents (Details) - shares
shares in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Stock options, RSUs, PSUs and employee stock purchase rights      
Earnings Per Share Diluted [Line Items]      
Anti-dilutive securities excluded from computation of diluted net income per share 23 93 94
v3.25.0.1
Income Taxes - Schedule of Income before Income Tax, by Geographic Region (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Disclosure [Abstract]      
Domestic loss $ 56,707 $ 41,105 $ 52,231
Foreign income 1,392 2,690 485
Income before income taxes $ 58,099 $ 43,795 $ 52,716
v3.25.0.1
Income Taxes - Components of Income Tax Expense (Benefit) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Current provision for income taxes:      
State $ 1,809 $ 2,016 $ 1,107
Foreign 1,959 1,228 1,917
Total current 7,662 3,573 3,024
Deferred tax expense (benefit):      
Federal 975 1,374 2,206
State (556) (1,265) 656
Foreign (122) 143 (78)
Total deferred 297 252 2,784
Provision for income taxes 7,959 3,825 5,808
Current Federal Tax Expense (Benefit) $ 3,894 $ 329 $ 0
v3.25.0.1
Income Taxes - Effective Income Tax Reconciliation (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Disclosure [Abstract]      
Tax at statutory rate $ 12,201 $ 9,197 $ 11,070
Tax at statutory rate (percent) 21.00% 21.00% 21.00%
State tax - net of federal benefits $ 763 $ 751 $ 1,531
State tax - net of federal benefits (percent) 1.30% 1.70% 2.90%
Foreign rate differential $ 1,606 $ 954 $ 1,737
Foreign rate differential (percent) 2.80% 2.20% 3.30%
Changes in federal valuation allowance $ 0 $ 210 $ 0
Changes in valuation allowance (percent) 0.00% 0.50% 0.00%
Stock-based compensation $ 108 $ (1,083) $ (1,992)
Stock-based compensation (percent) 0.20% (2.50%) (3.80%)
Non-deductible meals and entertainment expenses $ 289 $ 398 $ 252
Non-deductible meals and entertainment expenses (percent) 0.50% 0.90% 0.50%
Other permanent items $ 0 $ 5 $ 73
Other permanent items (percent) 0.00% 0.00% 0.10%
Federal Tax credits - net of uncertain tax position $ (3,959) $ (4,047) $ (3,844)
Federal Tax credits - net of uncertain tax position (percent) (6.80%) (9.20%) (7.30%)
Effective Income Tax Rate Reconciliation, Prior Year Income Taxes, Amount $ (162) $ (8) $ (4,176)
Effective Income Tax Rate Reconciliation, Prior Year Income Taxes, Percent (0.30%) 0.00% (7.90%)
Foreign-derived intangible income deduction $ (3,699) $ (3,585) $ 0
Foreign-derived intangible income deduction (percent) (6.40%) (8.20%) 0.00%
162(m) limitation on officers compensation $ 873 $ 1,221 $ 998
162(m) limitation on officers compensation (percent) 1.50% 2.80% 1.90%
Other $ (61) $ (188) $ 159
Other (percent) (0.10%) (0.40%) 0.30%
Provision for income taxes $ 7,959 $ 3,825 $ 5,808
Provision for income taxes (percent) 13.70% 8.70% 11.00%
v3.25.0.1
Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Deferred tax assets:    
Net operating loss carryforwards $ 3,561 $ 3,799
Research and development credits, net of uncertain tax positions 29,217 36,592
Accruals, reserves, and other 19,086 18,433
Stock-based compensation 2,040 1,475
Depreciation and amortization (1,293) (1,052)
Operating lease liability 2,728 3,669
Gross deferred tax assets 86,324 86,413
Valuation allowance (18,569) (17,588)
Total deferred tax assets 67,755 68,825
Deferred tax liabilities:    
Deferred contract acquisition costs (2,560) (2,429)
Operating lease right of use asset (2,610) (3,533)
Other (221) (138)
Total deferred tax liabilities (5,391) (6,100)
Net deferred tax assets 62,364 62,725
Deferred Tax Liabilities, Deferred Expense, Capitalized Software $ 30,985 $ 23,497
v3.25.0.1
Income Taxes - Additional Information (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating Loss Carryforwards [Line Items]        
Valuation allowance $ 18,569 $ 17,588    
Increase (decrease) in valuation allowance 1,000 2,000    
Undistributed earnings of foreign subsidiaries 18,600 18,500    
Unrecognized tax benefits 8,075 7,575 $ 7,077 $ 6,841
Unrecognized tax benefits that would affect the effective tax rate 3,700      
U.S. Federal        
Operating Loss Carryforwards [Line Items]        
Operating loss carryforwards 0 0    
State        
Operating Loss Carryforwards [Line Items]        
Operating loss carryforwards 51,000 54,900    
Research and Development Credit Carryforward | U.S. Federal        
Operating Loss Carryforwards [Line Items]        
Tax credit carryforward 14,800 22,800    
Research and Development Credit Carryforward | State        
Operating Loss Carryforwards [Line Items]        
Tax credit carryforward 27,100 25,300    
General Business Tax Credit Carryforward | U.S. Federal        
Operating Loss Carryforwards [Line Items]        
Tax credit carryforward $ 0 $ 400    
v3.25.0.1
Income Taxes - Unrecognized Tax Benefits (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Unrecognized Tax Benefits [Roll Forward]      
Gross unrecognized tax benefits—beginning balance $ 7,575 $ 7,077 $ 6,841
Increases (decrease) related to tax positions from prior years 0 27 (226)
Increases related to tax positions taken during current year 576 580 462
Decreases related to tax positions taken during the current year (76) (109) 0
Gross unrecognized tax benefits—ending balance 8,075 $ 7,575 $ 7,077
Americas      
Income Tax Contingency [Line Items]      
Deferred Tax Liabilities, Deferred Expense, Capitalized Research and Development Costs 41,500    
Non-US      
Income Tax Contingency [Line Items]      
Deferred Tax Liabilities, Deferred Expense, Capitalized Research and Development Costs $ 16,300    
v3.25.0.1
Geographic Information - Schedule of Total Revenue Based on Customer's Location (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Segment Reporting Information [Line Items]      
Total revenue $ 261,696 $ 251,700 $ 280,338
Americas      
Segment Reporting Information [Line Items]      
Total revenue 134,356 132,745 148,673
Americas      
Segment Reporting Information [Line Items]      
Total revenue 117,707 113,766 129,397
EMEA      
Segment Reporting Information [Line Items]      
Total revenue 40,165 41,349 41,963
Americas excluding United States      
Segment Reporting Information [Line Items]      
Total revenue 16,649 18,979 19,276
APJ      
Segment Reporting Information [Line Items]      
Total revenue $ 87,175 $ 77,606 $ 89,702
v3.25.0.1
Geographic Information - Long Lived Assets By Geographic Area (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Long-Lived Assets [Line Items]    
Long-lived assets $ 50,681 $ 46,252
Americas    
Long-Lived Assets [Line Items]    
Long-lived assets 48,468 43,782
APAC    
Long-Lived Assets [Line Items]    
Long-lived assets 363 1,096
Other    
Long-Lived Assets [Line Items]    
Long-lived assets $ 1,850 $ 1,374
v3.25.0.1
Employee Benefit Plan (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]        
Maximum contribution   $ 23,000    
Percent match   50.00%    
Percent of employee's compensation   6.00%    
Maximum employer contribution   $ 2,500    
Employer contribution amount   $ 1,100,000 $ 1,200,000 $ 1,100,000
Forecast        
Defined Benefit Plan Disclosure [Line Items]        
Maximum contribution $ 23,500      
v3.25.0.1
Selected Quarterly Financial Data (Unaudited) (Details) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Quarterly Financial Information Disclosure [Abstract]      
Total revenue $ 261,696 $ 251,700 $ 280,338
Gross profit 210,277 203,738 223,506
Net Income $ 50,140 $ 39,970 $ 46,908
Net income (loss) per share - diluted (in dollars per share) $ 0.67 $ 0.53 $ 0.60
Net income (loss) per share - basic (in dollars per share) $ 0.68 $ 0.54 $ 0.62
v3.25.0.1
Subsequent Events (Details) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Mar. 03, 2025
Feb. 14, 2025
Feb. 12, 2025
Feb. 04, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Subsequent Event [Line Items]              
Dividends per common share (dollars per share)         $ 0.24 $ 0.24 $ 0.24
Subsequent event              
Subsequent Event [Line Items]              
Dividends per common share (dollars per share) $ 0.06            
Business Combination, Consideration Transferred     $ 19.5        
Subsequent event | O 2024 Q4 Dividends              
Subsequent Event [Line Items]              
Dividends Payable, Date Declared       Feb. 04, 2025      
Dividends Payable, Date to be Paid Mar. 03, 2025            
Dividends Payable, Date of Record   Feb. 14, 2025