Cover - USD ($) $ in Millions	12 Months Ended
Cover - USD ($) $ in Millions	Dec. 31, 2024	Feb. 19, 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 File Number	001-40396
Entity Registrant Name	Procore Technologies, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	73-1636261
Entity Address, Address Line One	6309 Carpinteria Avenue
Entity Address, City or Town	Carpinteria
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	93013
City Area Code	866
Local Phone Number	477-6267
Title of 12(b) Security	Common stock, $0.0001 par value
Trading Symbol	PCOR
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 7,044.4
Entity Common Stock, Shares Outstanding		149,924,206
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant’s Definitive Proxy Statement relating to the registrant’s 2025 Annual Meeting of Stockholders are incorporated by reference into Part III of this Annual Report on Form 10-K where indicated. Such Definitive Proxy Statement will be filed with the Securities and Exchange Commission within 120 days after the end of the registrant’s 2024 fiscal year ended December 31, 2024.
Entity Central Index Key	0001611052
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2024
Audit Information [Abstract]
Auditor Firm ID	238
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	Los Angeles, California

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 437,722	$ 357,790
Marketable securities (amortized cost of $337,253 and $320,166 at December 31, 2024 and 2023, respectively)	337,673	320,161
Accounts receivable, net of allowance for credit losses of $6,109 and $4,791 at December 31, 2024 and 2023, respectively	246,472	206,644
Contract cost asset, current	33,922	28,718
Prepaid expenses and other current assets	44,090	42,421
Total current assets	1,099,879	955,734
Marketable securities, non-current (amortized cost of $46,042 and $0 at December 31, 2024 and 2023, respectively)	46,042	0
Capitalized software development costs, net	112,321	83,045
Property and equipment, net	43,592	36,258
Right of use assets - finance leases	31,727	34,375
Right of use assets - operating leases	28,790	44,141
Contract cost asset, non-current	47,505	44,564
Intangible assets, net	120,946	137,546
Goodwill	549,651	539,354
Other assets	20,918	18,551
Total assets	2,101,371	1,893,568
Current liabilities
Accounts payable	33,146	13,177
Accrued expenses	88,740	100,075
Deferred revenue, current	584,719	501,903
Other current liabilities	21,427	27,275
Total current liabilities	728,032	642,430
Deferred revenue, non-current	5,815	7,692
Finance lease liabilities, non-current	41,352	43,581
Operating lease liabilities, non-current	32,697	37,923
Other liabilities, non-current	5,122	6,332
Total liabilities	813,018	737,958
Commitments and contingencies (Note 11)
Stockholders’ equity
Preferred stock, $0.0001 par value, 100,000,000 shares authorized at December 31, 2024 and 2023; 0 shares issued and outstanding at December 31, 2024 and 2023.	0	0
Common stock, $0.0001 par value, 1,000,000,000 shares authorized at December 31, 2024 and 2023; 149,853,135 and 144,806,464 shares issued and outstanding at December 31, 2024 and 2023, respectively.	15	15
Additional paid-in capital	2,535,868	2,295,807
Accumulated other comprehensive loss	(2,737)	(1,375)
Accumulated deficit	(1,244,793)	(1,138,837)
Total stockholders’ equity	1,288,353	1,155,610
Total liabilities and stockholders’ equity	$ 2,101,371	$ 1,893,568

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Marketable securities, amortized cost, current	$ 337,253	$ 320,166
Allowance for credit losses	6,109	4,791
Marketable securities, non-current	$ 46,042	$ 0
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	100,000,000	100,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	149,853,135	144,806,464
Common stock, shares outstanding (in shares)	149,853,135	144,806,464

Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Revenue	$ 1,151,708	$ 950,010	$ 720,203
Cost of revenue	205,612	174,462	148,416
Gross profit	946,096	775,548	571,787
Operating expenses
Sales and marketing	552,019	494,908	424,976
Research and development	312,987	300,571	270,982
General and administrative	217,513	195,746	166,283
Total operating expenses	1,082,519	991,225	862,241
Loss from operations	(136,423)	(215,677)	(290,454)
Interest income	23,694	19,779	5,826
Interest expense	1,899	1,957	2,135
Accretion income, net	13,583	9,794	2,035
Other expense, net	(3,136)	(360)	(1,737)
Loss before provision for income taxes	(104,181)	(188,421)	(286,465)
Provision for income taxes	1,775	1,273	466
Net loss	$ (105,956)	$ (189,694)	$ (286,931)
Net loss per share attributable to common stockholders, diluted (in dollars per share)	$ (0.72)	$ (1.34)	$ (2.10)
Net loss per share attributable to common stockholders, basic (in dollars per share)	$ (0.72)	$ (1.34)	$ (2.10)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in shares)	147,444,772	141,961,467	136,525,728
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in shares)	147,444,772	141,961,467	136,525,728
Other comprehensive (loss) income
Foreign currency translation adjustment, net of tax	$ (1,787)	$ 437	$ (1,355)
Unrealized income (loss) on available-for-sale debt and marketable securities, net of tax	425	504	(378)
Total other comprehensive (loss) income	(1,362)	941	(1,733)
Comprehensive loss	$ (107,318)	$ (188,753)	$ (288,664)

Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders' Equity (Deficit) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive (Loss) Income	Accumulated Deficit
Beginning balance, shares at Dec. 31, 2021		134,046,926
Beginning balance at Dec. 31, 2021	$ 1,189,289	$ 13	$ 1,852,071	$ (583)	$ (662,212)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options, shares		1,716,286
Exercise of stock options	22,317		22,317
Stock-based compensation	171,704		171,704
Issuance of common stock upon settlement of restricted stock units (in shares)		2,845,174
Issuance of common stock upon settlement of restricted stock units	1	$ 1
Issuance of common stock for employee stock purchase plan (in shares)		551,753
Issuance of common stock upon settlement of restricted stock units	22,133		22,133
Adjustment of holdback shares release for business combination (in shares)		(605)
Other comprehensive income (loss)	(1,733)			(1,733)
Net loss	(286,931)				(286,931)
Ending balance, shares at Dec. 31, 2022		139,159,534
Ending balance at Dec. 31, 2022	1,116,780	$ 14	2,068,225	(2,316)	(949,143)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options, shares		1,371,834
Exercise of stock options	17,630		17,630
Stock-based compensation	184,552		184,552
Issuance of common stock upon settlement of restricted stock units (in shares)		3,699,168
Issuance of common stock upon settlement of restricted stock units	1	$ 1
Issuance of common stock for employee stock purchase plan (in shares)		575,928
Issuance of common stock upon settlement of restricted stock units	25,400		25,400
Other comprehensive income (loss)	941			941
Net loss	(189,694)				(189,694)
Ending balance, shares at Dec. 31, 2023		144,806,464
Ending balance at Dec. 31, 2023	$ 1,155,610	$ 15	2,295,807	(1,375)	(1,138,837)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options, shares	1,187,141	1,187,141
Exercise of stock options	$ 15,773		15,773
Stock-based compensation	200,219		200,219
Issuance of common stock upon settlement of restricted stock units (in shares)		3,393,832
Issuance of common stock for employee stock purchase plan (in shares)		465,698
Issuance of common stock upon settlement of restricted stock units	24,069		24,069
Other comprehensive income (loss)	(1,362)			(1,362)
Net loss	(105,956)				(105,956)
Ending balance, shares at Dec. 31, 2024		149,853,135
Ending balance at Dec. 31, 2024	$ 1,288,353	$ 15	$ 2,535,868	$ (2,737)	$ (1,244,793)

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Operating activities
Net loss	$ (105,956)	$ (189,694)	$ (286,931)
Adjustments to reconcile net loss to net cash provided by operating activities
Stock-based compensation	186,880	174,835	162,886
Depreciation and amortization	89,753	71,633	63,039
Accretion of discounts on marketable debt securities, net	(12,830)	(9,790)	(2,009)
Abandonment of long-lived assets	1,428	1,488	1,344
Noncash operating lease expense	11,102	13,092	10,170
Unrealized foreign currency loss (gain), net	2,304	(524)	(351)
Deferred income taxes	(881)	(769)	(283)
Provision for credit losses	591	8,052	2,584
(Increase) decrease in fair value of strategic investments	(454)	287	483
Changes in operating assets and liabilities, net of effect of asset acquisitions and business combinations
Accounts receivable	(39,501)	(57,492)	(35,817)
Deferred contract cost assets	(8,993)	(9,306)	(21,974)
Prepaid expenses and other assets	(3,318)	(6,368)	(3,754)
Accounts payable	19,729	(938)	459
Accrued expenses and other liabilities	(15,501)	4,759	34,623
Deferred revenue	79,091	106,590	97,029
Operating lease liabilities	(7,272)	(13,840)	(8,890)
Net cash provided by operating activities	196,172	92,015	12,608
Investing activities
Purchases of property and equipment	(19,143)	(10,325)	(15,782)
Capitalized software development costs	(49,529)	(34,685)	(33,648)
Purchases of strategic investments	(2,367)	(764)	(3,959)
Purchases of marketable securities	(491,475)	(402,424)	(369,206)
Maturities of marketable securities	440,537	372,240	85,632
Sales of marketable securities	0	5,452	0
Originations of materials financing	0	(23,972)	(23,489)
Customer repayments of materials financing	1,605	26,242	18,685
Asset acquisitions, net of cash acquired	(3,792)	(7,825)	0
Acquisition of businesses, net of cash acquired	(25,945)	0	0
Settlement of post-close working capital adjustments from business combinations	0	0	1,291
Net cash used in investing activities	(150,109)	(76,061)	(340,476)
Financing activities
Proceeds from stock option exercises	15,737	17,618	22,364
Proceeds from employee stock purchase plan	24,069	25,400	22,133
Payments of deferred offering costs	0	0	(270)
Payment of deferred business combination consideration	(1,470)	0	(3,870)
Payment of deferred asset acquisition consideration	(81)	0	0
Principal payments under finance lease agreements, net of proceeds from lease incentives	(2,019)	(1,853)	(1,705)
Net cash provided by financing activities	36,236	41,165	38,652
Net increase (decrease) in cash, cash equivalents and restricted cash	82,299	57,119	(289,216)
Effect of exchange rate changes on cash	(2,367)	855	(180)
Cash, cash equivalents and restricted cash, beginning of period	357,790	299,816	589,212
Cash, cash equivalents and restricted cash, end of period	437,722	357,790	299,816
Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheets
Cash and cash equivalents at end of period	437,722	357,790	296,712
Restricted cash, non-current at end of period included in other assets	0	0	3,104
Total cash, cash equivalents and restricted cash at end of period shown in the consolidated statements of cash flows	437,722	357,790	299,816
Supplemental disclosure of cash flow information
Cash paid for interest other than finance leases	25	4	94
Cash paid for income taxes, net of refunds received	2,674	859	700
Stock-based compensation capitalized for cloud-computing arrangement costs	104	296	256
Cash received for lease incentives	2,620	789	2,024
Operating cash flows from finance leases	1,874	1,953	2,017
Operating cash flows from operating leases	11,871	15,971	12,092
Financing cash flows from finance leases	2,221	2,054	1,906
Noncash investing and financing activities
Purchases of property and equipment included in accounts payable and accrued expenses at year end	1,638	754	1,472
Capitalized software development costs included in accounts payable and accrued expenses at year end	3,775	1,905	1,645
Deferred asset acquisition payment included in other current liabilities and other non-current liabilities at year end	1,400	1,405	0
Stock-based compensation capitalized for software development	13,235	9,421	8,562
Conversion of available-for-sale debt securities into equity securities	350	0	3,680
Right of use assets obtained in exchange for operating lease liabilities	(3,875)	15,385	10,198
Noncash net change due to operating lease remeasurement	$ (89)	$ (115)	$ (1,642)

ORGANIZATION AND DESCRIPTION OF BUSINESS	12 Months Ended
ORGANIZATION AND DESCRIPTION OF BUSINESS	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND DESCRIPTION OF BUSINESS	ORGANIZATION AND DESCRIPTION OF BUSINESS Description of business Procore Technologies, Inc. (together with its subsidiaries, “Procore” or the “Company”) provides a cloud-based construction management platform and related products and services that allow the construction industry’s key stakeholders, such as owners, general contractors, and specialty contractors, to collaborate on construction projects. The Company was incorporated in California in 2002 and re-incorporated in Delaware in 2014. The Company is headquartered in Carpinteria, California, and has operations globally.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of presentation

The accompanying consolidated financial statements include the financial statements of Procore Technologies, Inc. and its subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”). Certain balances have been reclassified to conform to current year presentation.

Use of estimates

The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Management periodically evaluates its estimates and assumptions for continued reasonableness, primarily with respect to revenue recognition, the period of benefit of contract cost assets, the fair value of assets acquired and liabilities assumed in a business combination or asset acquisition, stock-based compensation expense, the recoverability of goodwill and long-lived assets, useful lives of long-lived assets, capitalization of software development costs, income taxes, including related reserves and allowances, provision for credit losses, incremental borrowing rates and estimation of lease terms applied in lease accounting, and self-insurance reserve estimates. Appropriate adjustments, if any, to the estimates used are made prospectively based upon such periodic evaluation. Management bases its estimates on historical experience and on various other assumptions that management believes to be reasonable. Actual results could differ from the Company’s estimates.

Segments

The Company operates as a single operating segment. Operating segments are defined as components of an enterprise for which separate financial information is evaluated regularly by the chief operating decision maker (“CODM”), in deciding how to allocate resources and assess performance. The Company’s CODM is its Chief Executive Officer (“CEO”). In recent years, the Company has completed a number of acquisitions which have allowed it to expand its platform capabilities and related products and services.

The Company generates substantially all of its revenue from subscriptions for access to its software products and related support. While the Company provides different products and services, including as a result of its acquisitions, its business operates as one operating segment because its CODM evaluates the Company’s revenue, expenses and assets as reported on the consolidated income statement and balance sheet for purposes of assessing financial performance and allocating resources on a consolidated basis. The CODM uses consolidated revenue, expenses, and assets in deciding whether to invest into various parts of the Company, such as managing budget and acquisitions.

Concentrations of credit risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash, cash equivalents, restricted cash, investments in marketable securities, accounts receivable, and materials financing receivables.

The Company maintains its cash, cash equivalents, and restricted cash balances with major financial institutions that may at times exceed federally insured limits. However, the Company believes that these financial institutions are financially sound with minimal credit risk. During the years ended December 31, 2024 and 2023, there were no credit losses recorded on cash, cash equivalents, or restricted cash.

Investments in marketable securities consist primarily of investment-grade securities and the Company’s investment policy limits the amount of credit exposure to any individual issuer. The Company periodically assesses its portfolio of marketable securities for impairment due to credit losses. The Company evaluates each investment in an unrealized loss position to determine if any portion of the unrealized loss is related to credit losses. In determining whether a credit loss may exist, the Company considers the extent of the unrealized loss position, any adverse conditions specifically related to the security or the issuer’s operating environment, the pay structure of the security, the issuer’s payment history, and any changes in the issuer’s credit rating. Unrealized losses on marketable securities due to expected credit losses are recognized in other expense, net in the accompanying consolidated statements of operations and comprehensive loss. During the years ended December 31, 2024 and 2023, there were no credit losses recorded on marketable securities.

Accounts receivable are recorded at the invoiced amounts, do not require collateral or bear interest, and mainly result from subscriptions to access the Company’s software products. The Company regularly assesses the need for allowances for expected losses from these accounts receivable. Each reporting period, the Company evaluates the collectability of its accounts receivable based on a number of factors such as the age of the receivables, credit quality, historical experience, and current and future economic conditions that may affect a customer’s ability to pay. As of December 31, 2024 and 2023, the Company's allowance for expected credit losses was $6.1 million and $4.8 million, respectively. No customer represented 10% or more of the consolidated accounts receivable balance as of December 31, 2024 and 2023. No single customer accounted for 10% or more of total revenue for the years ended December 31, 2024, 2023, and 2022.

The Company also had receivables related to its materials financing program that financed customers’ purchases of construction materials on deferred payment terms. The related allowance recorded on the Company’s materials financing receivables was primarily based on expectations of credit losses based on a number of factors, such as the age of the receivables, historical loss data, and macroeconomic conditions that may affect a customer’s ability to pay. The Company ceased originations under its materials financing program in October 2023.

Cash, cash equivalents, and restricted cash

The Company classifies all investments that are readily convertible to known amounts of cash and have maturities of three months or less from the date of purchase as cash equivalents, which are carried at fair value. Cash includes cash held in checking and savings accounts. As of December 31, 2024 and 2023, cash equivalents comprised money market funds that were recorded at fair value which approximates amortized cost.

From time to time, the Company may post cash collateral to satisfy certain contractual arrangements that arise in the normal course of business and that is contractually restricted as to use. The Company held no restricted cash as of December 31, 2024 or 2023.

Marketable securities

Investments with stated maturities of greater than three months are classified as marketable securities, which consist of United States (“U.S.”) treasury securities, commercial paper, corporate notes and obligations, and time deposits. All marketable securities held as of December 31, 2024 and 2023 are classified as available-for-sale debt securities, which are recorded at fair value. The Company's marketable securities are classified as either short-term or long-term in the accompanying consolidated balance sheets based on the security's

contractual maturity at the balance sheet date. The Company re-evaluates such classification at each balance sheet date.

Any unrealized gains and losses, net of tax, that are not due to expected credit losses are included in accumulated other comprehensive loss, a component of stockholders’ equity in the accompanying consolidated financial statements. Interest recorded on marketable securities is recorded in interest income, with accretion of discounts, net of amortization of premiums, recorded in accretion income, net, on the accompanying consolidated statements of operations and comprehensive loss. Refer to Note 3 for further details on the Company’s marketable securities portfolio.

Foreign currency transactions and translation

The functional currency of the Company’s foreign subsidiaries in Australia, Canada, and England is the local currency of such countries, and the functional currency of the Company’s subsidiaries in Mexico, Egypt, Singapore, United Arab Emirates, France, Ireland, Germany, India, Czech Republic, and Costa Rica is U.S. Dollars. For foreign subsidiaries where the functional currency is the local currency of such countries, assets and liabilities are translated into U.S. Dollars at exchange rates in effect at the balance sheet date, stockholders’ equity is translated at the applicable historical exchange rate, and revenue and expenses are translated using the average exchange rates during the period. The effect of exchange rate changes resulting from the translation of the foreign subsidiary financial statements is accounted for as a component of accumulated other comprehensive loss.

In addition, the Company incurs foreign currency transaction gains and losses, including those related to intercompany agreements among the Company and its subsidiaries, which are recorded in other expense, net in the accompanying consolidated statements of operations and comprehensive loss. Foreign currency gains and losses were not material for the years ended December 31, 2024, 2023, and 2022.

Property and equipment, net

Property and equipment are stated at cost less accumulated depreciation. Expenditures for repairs and maintenance are expensed as incurred, while renewals and betterments are capitalized. Depreciation expense is computed on a straight-line basis over the estimated lives of the assets as follows:


Asset Classification			Estimated Useful Life
Leasehold improvements			Lesser of 15 years or lease term
Building improvements			Lesser of 20 years or lease term
Furniture and fixtures			5 years
Computers and equipment			3 years
Purchased software			Contractual term

Leases

The Company determines an arrangement is a lease at inception if it is both able to identify an asset and conclude it has the right to control the identified asset. Leases are classified as finance or operating based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is comprised of amortization of the right of use (“ROU”) asset and interest expense recognized based on an effective interest method for finance leases, or as a single lease cost recognized on a straight-line basis over the term of the lease for operating leases. Leases are included in ROU assets, other current liabilities, and long-term finance and operating lease liabilities within the accompanying consolidated balance sheets. Leases with expected terms of 12 months or less are not recorded on the accompanying consolidated balance sheets. Certain leases contain provisions that allow the Company to be reimbursed by the landlord for specified tenant improvements that are subject to final approval prior to being paid. The Company estimates the likelihood that it will incur and be reimbursed for such costs at the commencement of the lease and reduce the ROU liability for the discounted future cash receipt, with a corresponding offset to the ROU asset.

ROU assets represent the Company’s right to control an underlying asset for the lease term, and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at the commencement date of the lease based on the present value of lease payments over the expected lease term. The Company’s leases do not provide an implicit rate, therefore the Company uses its incremental borrowing rate based on the information available at the lease commencement date in determining the discount rate used to calculate the present value of minimum lease payments. The incremental borrowing rate used is estimated based on what the Company would be required to pay for a collateralized loan over a similar term. The Company’s leases do not include any residual value guarantees, bargain purchase options, or asset retirement obligations.

The Company has lease agreements with lease and non-lease components, which are accounted for as a single lease component. The Company’s agreements may contain variable lease payments. The Company includes variable lease payments that depend on an index or a rate in the calculation of the ROU lease liabilities and exclude those which depend on facts or circumstances occurring after the commencement date, other than the passage of time.

Self-insurance reserves

The Company has elected to partially self-fund its health insurance plan. To reduce its risk related to high-dollar claims, the Company maintains individual stop-loss insurance. The Company estimates its exposure for claims incurred at the end of each reporting period, including claims not yet reported, with the assistance of an independent third-party actuary. As of December 31, 2024 and 2023, the Company’s self-insurance accrual was $2.7 million and $3.3 million, respectively, included within other current liabilities on the accompanying consolidated balance sheets.

Strategic investments

Investments in equity securities

The Company holds investments in equity securities of certain privately held companies, which do not have readily determinable fair values. The Company does not have a controlling interest or significant influence in these companies. The Company has elected to measure the non-marketable equity securities at cost, with remeasurements to fair value only upon the occurrence of observable price changes in orderly transactions for the identical or similar securities of the same issuer, or in the event of any impairment. This election is reassessed each reporting period to determine whether a non-marketable equity security has a readily determinable fair value, in which case the security would no longer be eligible for this election. All gains and losses on such equity securities, realized and unrealized, are recorded in other expense, net on the accompanying consolidated statements of operations and comprehensive loss. The Company evaluates its non-marketable equity securities for impairment at each reporting period based on a qualitative assessment that considers various potential impairment indicators. If an impairment exists, a loss is recognized in the accompanying consolidated statements of operations and comprehensive loss for the amount by which the carrying value exceeds the fair value of the investment.

Investments in limited partnership funds

The Company also holds investments in certain limited partnership funds. The Company does not hold a controlling interest or significant influence in these limited partnerships. The fair value of such investments is valued using the Net Asset Value (“NAV”) provided by the fund administrator as a practical expedient.

Available-for-sale debt securities

The Company may hold investments in debt securities of privately held companies, which are classified as available-for-sale debt securities. Such available-for-sale debt securities are recorded at fair value with changes in fair value recorded in other comprehensive income or loss. The Company periodically reviews its available-for-sale debt securities to determine if there has been an other-than-temporary decline in fair value. If the impairment is deemed other-than-temporary, the portion of the impairment related to credit losses is recognized in other expense, net in the accompanying consolidated statements of operations and comprehensive loss, and the portion related to non-credit related losses is recognized as a component of comprehensive loss.

Business combinations

The Company assesses whether an acquisition is a business combination or an asset acquisition. If substantially all of the gross assets acquired are concentrated in a single asset or group of similar assets, then the acquisition is accounted for as an asset acquisition, where the purchase consideration is allocated on a relative fair value basis to the assets acquired. Goodwill is not recorded in an asset acquisition. If the gross assets are not concentrated in a single asset or group of similar assets, then the Company determines if the set of assets acquired represents a business. A business is an integrated set of activities and assets capable of being conducted and managed for the purpose of providing a return. Depending on the nature of the acquisition, judgment may be required to determine if the set of assets acquired is a business combination or not.

The Company applies the acquisition method of accounting for a business combination. Under this method of accounting, assets acquired and liabilities assumed are recorded at their respective fair values at the date of the acquisition. Any excess of the purchase price over the fair value of the net assets acquired is recognized as goodwill. During the measurement period, which may be up to one year from the acquisition date, the Company adjusts the provisional amounts of assets acquired and liabilities assumed with the corresponding offset to goodwill to reflect new information obtained about facts and circumstances that existed as of the acquisition date that, if known, would have affected the measurement of the amounts recognized as of that date. Upon the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded within the Company’s consolidated statements of operations and comprehensive loss.

Determining the fair value of assets acquired and liabilities assumed requires management’s judgment and often involves the use of significant estimates and assumptions, including assumptions with respect to estimated level of effort and related costs of reproducing or replacing the assets acquired, future cash inflows and outflows, and discount rates, among other items. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Market participants are assumed to be buyers and sellers in the principal (most advantageous) market for the asset or liability. Additionally, fair value measurements for an asset assume the highest and best use of that asset by market participants. As a result, the Company may be required to value the acquired assets at fair value measures that do not reflect its intended use of those assets. Use of different estimates and judgments could yield different results.

Although the Company believes the assumptions and estimates it has made are reasonable and appropriate, they are based in part on historical experience and information that may be obtained from management of the acquired company and are inherently uncertain.

Intangible assets and goodwill

All of the Company’s finite-lived intangible assets are amortized using the straight-line method over their estimated period of benefit, ranging from three to 10 years. The Company evaluates the recoverability of its finite-lived intangible assets periodically by considering events or changes in circumstances that may warrant revised estimates of useful lives or that indicate the asset may be impaired.

The Company has an in-process research and development (“IPR&D”) intangible asset, which is considered indefinite-lived and is assessed annually for impairment. Upon completion of the project, the IPR&D intangible asset will be considered a finite-lived intangible asset and amortized over its estimated useful life. If the project were to be abandoned, the IPR&D would be considered fully impaired and recognized in research and development expenses within the accompanying consolidated statements of operations and comprehensive loss.

Goodwill is tested for impairment at the reporting unit level (i.e., the operating segment or one level below an operating segment). The Company has one reporting unit and tests goodwill impairment on an annual basis during the fourth quarter of the Company’s fiscal year, and between annual tests if an event occurs or circumstances change that indicate that goodwill may be impaired. In assessing impairment, the Company has the option to first assess qualitative factors to determine whether or not a reporting unit is more likely than not

impaired. Alternatively, the Company may perform a quantitative impairment assessment or if the qualitative assessment indicates that it is more likely than not that the reporting unit’s fair value is less than its carrying amount, a quantitative analysis is required. The quantitative analysis compares the estimated fair value of the reporting unit with its respective carrying amount, including goodwill. If the estimated fair value of the reporting unit exceeds its carrying amount, including goodwill, goodwill is considered not to be impaired. If the fair value is less than the carrying amount, including goodwill, then a goodwill impairment charge is recorded by the amount that the carrying value exceeds the fair value, up to the carrying amount of goodwill.

Capitalized software development costs

The Company capitalizes certain development costs incurred in connection with the development of internal-use software. Costs incurred in the preliminary stages of development are expensed as incurred. Once the preliminary stage is complete, internal and external direct costs are capitalized until the developed software is substantially complete and ready for its intended use. Costs incurred for post-implementation activities, training, maintenance, and minor upgrades and enhancements without adding additional functionality are expensed as incurred. Capitalized internal-use software costs primarily relate to the development of and major enhancements to the Company’s cloud-based software as a service (“SaaS”) construction management platform and related software products. Capitalized software development costs related to the Company’s platform are amortized on a straight-line basis over the developed software’s estimated useful life of two years and the related amortization expense is recorded in cost of revenue within the accompanying consolidated statements of operations and comprehensive loss.

The Company also capitalizes certain software development costs which are used internally, rather than developments to the Company’s platform. Such costs are amortized on a straight-line basis over the developed software’s estimated useful life, which is generally three to five years, and the related amortization expense is recorded in operating expenses within the accompanying consolidated statements of operations and comprehensive loss. Abandonments of software development costs have been immaterial in all periods presented.

Cloud computing arrangements

The Company capitalizes qualifying implementation costs related to hosting arrangements that are service contracts (cloud computing arrangements). Such costs are amortized on a straight-line basis over the software’s estimated useful life, which is generally the term of the hosting relationship, and ranges from three to five years. The related amortization expense is recorded in operating expenses within the accompanying consolidated statements of operations and comprehensive loss. As of December 31, 2024 and 2023, the Company’s gross capitalized costs were $11.5 million and $10.3 million, respectively, and the related accumulated amortization was $4.8 million and $2.9 million, respectively. Capitalized amounts are included in prepaid expenses and other current assets and other assets on the accompanying consolidated balance sheets.

Fair value measurements

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. Fair value measurements are based on a fair value hierarchy using three levels of inputs, of which the first two are considered observable and the last is considered unobservable, as follows:

Level 1 Quoted prices in active markets for identical assets or liabilities.

Level 2 Quoted prices for identical or similar assets and liabilities in markets that are not active or observable inputs other than quoted prices in active markets for identical or similar assets or liabilities.

Level 3 Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

As of December 31, 2024 and 2023, the carrying value of the Company’s financial instruments included in current assets and current liabilities (including accounts receivable, accounts payable, and accrued expenses) approximate fair value due to the short-term nature of such items. The Company measures its cash held in money market funds, marketable securities, and investments in available-for-sale debt securities at fair value each reporting period. The estimation of fair value for available-for-sale debt securities in private companies requires the use of significant unobservable inputs, and as a result, the Company classifies these assets as Level 3 within the fair value hierarchy.

The Company’s investments in equity securities of privately held companies are recorded at fair value on a non-recurring basis. For investments without a readily determinable fair value, the Company looks to observable transactions, such as the issuance of new equity by an investee, as indicators of investee enterprise value and uses them to estimate the fair value of the investments. The Company’s investments in limited partnerships are valued using NAV as a practical expedient and therefore excluded from the fair value hierarchy.

Impairment and abandonment of long-lived assets

The Company evaluates long-lived assets, including finite-lived intangible assets, property and equipment, leases, capitalized software development costs, and cloud computing arrangements, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. Impairment testing is performed at an asset level that represents the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities, or an asset group. Recoverability of asset groups to be held and used is measured by comparison of the carrying value of the asset group to the estimated undiscounted future cash flows expected to be generated from the use of such assets. If the undiscounted future cash flows are less than the carrying value of the asset group, an impairment is recognized based on the amount by which the carrying value exceeds the estimated fair value of the asset group. Assets to be abandoned with no remaining future service potential are written down to amounts expected to be recovered.

Materials financing revenues and receivables

In connection with its acquisition of Express Lien, Inc. (d/b/a Levelset) (“Levelset”), in November 2021, the Company assumed a materials financing program to help facilitate the purchase of construction materials from fulfillment partners (the Company’s suppliers) on behalf of its customers, allowing such customers to finance their materials purchases from the Company on deferred payment terms. Prior to the Company ceasing originations under its materials financing program in October 2023, the fulfillment partner was primarily responsible for fulfilling the materials purchases and the Company did not have control over such materials. The Company earned revenues from origination fees and finance charges on the amounts it financed for customers on deferred payment terms, which were typically 120 days. Such fees earned were computed and recognized based on the effective interest method and are presented net of any related reserves and amortization of deferred origination costs. During the year ended December 31, 2024, credit losses incurred in connection with the Company's materials financing program were immaterial. During the year ended December 31, 2023, the Company incurred credit losses of $8.1 million in connection with its materials financing program, which are recorded in general and administrative expenses in the accompanying consolidated statements of operations and comprehensive loss.

As of December 31, 2024, there were no gross receivables outstanding from customers or allowance for credit losses related to the materials financing program. As of December 31, 2023, gross receivables under the materials financing program were $5.7 million, and the related allowance for expected credit losses was $3.8 million. Materials financing receivables, net of allowances, are recorded within prepaid expenses and other current assets on the accompanying consolidated balance sheets.

Revenue recognition

The Company generates substantially all of its revenue from subscriptions for access to its software products and related support. The software products are hosted on its cloud-based SaaS construction management platform. Subscriptions are sold for a fixed fee and revenue is recognized ratably over the term of

the subscription. The Company’s subscription agreements generally have annual or multi-year terms, are typically subject to renewal at the end of the subscription term, are generally non-cancelable, and do not provide for refunds to customers or any other right of return. The Company generally invoices its customers at the beginning of each annual subscription period, and to a lesser extent, on a semi-annual or quarterly basis. To the extent the Company invoices its customers in advance of revenue recognition, it records deferred revenue. Consequently, a portion of the revenue that is reported each period is attributable to the recognition of revenue previously deferred and related to subscriptions that the Company entered into during previous periods. Subscription fees are generally due and payable upon receipt of invoice by the Company’s customers or within 30 days of the stated billing date. The Company does not provide the customer with the right to take possession of its software products at any time.

The Company determines revenue recognition through the following steps:

•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; and

•recognition of revenue when, or as, the Company satisfies a performance obligation.

The Company executes a signed contract with the customer that specifies services to be provided, the payment amounts and terms, and the period of service, among other terms.

The Company’s contracts with customers often include promises to perform multiple services. Determining whether services are considered distinct performance obligations that should be accounted for separately or together may require judgment. The contracts with customers include access to the Company’s products and support over the subscription period. Access to software products and support represents a series of distinct services as the Company fulfills its obligation to the customer and the customer receives and consumes the benefits of the software products and support over the subscription term. The series of distinct services represents a single performance obligation.

The transaction price is determined by the stated fixed fees in the contract, excluding any related sales tax. None of the Company’s contracts include a significant financing component.

The Company recognizes revenue ratably over the term of the subscription agreement beginning on the date that access to its products is made available to the customer.

Deferred revenue

Contract liabilities consist of revenue that is deferred when the Company has the contractual right to invoice in advance of transferring services to its customers. Substantially all deferred revenue at the beginning of 2024, 2023, and 2022 was recognized as revenue within the following 12-month period.

Remaining performance obligations

The transaction price allocated to remaining performance obligations (“RPO”) represents the contracted transaction price that has not yet been recognized as revenue, which includes deferred revenue and amounts under non-cancelable contracts that will be invoiced and recognized as revenue in future periods. The Company’s current RPO represents future revenue under existing contracts that is expected to be recognized as revenue in the next 12 months. As of December 31, 2024, the aggregate amount of the transaction price allocated to RPO was $1.3 billion, of which the Company expects to recognize approximately $829.7 million, or 64%, as revenue in the next 12 months and substantially all of the remaining $456.8 million between 12 and 36 months thereafter.

Assets recognized from the costs to obtain a contract with a customer

The Company recognizes an asset for the incremental and recoverable costs of obtaining a contract with a customer if the Company expects the benefit of those costs to be one year or longer. The Company elected the practical expedient that allows an entity to expense incremental contract costs as incurred if the amortization period of the assets would have otherwise been recognized in one year or less. The Company has determined that sales commissions paid for new contracts, including certain incremental sales to existing customers, meet the requirements to be capitalized as contract acquisition costs. The contract cost assets are deferred and then recognized in sales and marketing expense on a straight-line basis over the expected period of benefit, which the Company has determined to be four years. Sales commissions and bonuses for renewal contracts are not considered commensurate with sales commissions for new contracts, and therefore, the expected period of benefit for costs capitalized for initial contracts extends beyond the term of the initial contract. Judgment is required to determine the expected period of benefit, for which the Company considers estimates of customer lives and SaaS product technology life in making this determination. Write-offs of such costs have historically been immaterial.

The following table presents the changes in contract cost assets (in thousands):


	Year Ended December 31,
	2024		2023		2022
Beginning balance	$	73,282	$	64,077	$	42,919
Additions	39,699		37,243		41,750
Amortization	(31,554)		(28,038)		(20,592)
Ending balance	$	81,427	$	73,282	$	64,077

Cost of revenue

Cost of revenue primarily consists of personnel-related compensation expenses for the Company’s customer support team, including salaries, benefits, stock-based compensation, payroll taxes, commissions, and bonuses. Additionally, cost of revenue includes non-personnel-related expenses, such as third-party hosting costs, amortization of acquired technology intangible assets, amortization of capitalized software development costs related to the Company’s platform, software license fees, and allocated overhead.

Operating expenses

The Company’s operating expenses consist of sales and marketing, research and development, and general and administrative expenses. For each of these categories of expense, personnel-related compensation expenses are the most significant component, which include salaries, stock-based compensation, commissions, benefits, payroll taxes, and bonuses.

Sales and marketing

Sales and marketing expenses primarily consist of personnel-related compensation expenses for the Company’s sales and marketing organizations. Additionally, sales and marketing expenses include non-personnel-related expenses, such as advertising costs, marketing events, travel, trade shows, and other marketing activities; amortization of acquired customer relationship intangible assets; contractor costs to supplement the Company’s staff levels; consulting services; and allocated overhead. Advertising costs are expensed as incurred. During the years ended December 31, 2024, 2023, and 2022, the Company incurred advertising costs of $61.8 million, $43.1 million, and $37.2 million, respectively.

Research and development

Research and development expenses primarily consist of personnel-related compensation expenses for the Company’s engineering, product, and design teams. Additionally, research and development expenses include non-personnel-related expenses, such as contractor costs to supplement the Company’s staff levels,

consulting services, amortization of certain acquired intangible assets used in research and development activities, and allocated overhead.

General and administrative

General and administrative expenses primarily consist of personnel-related compensation expenses for the Company’s information technology, human resources, finance, legal, executive, and other administrative functions. Additionally, general and administrative expenses include non-personnel-related expenses, such as professional fees for audit, legal, tax, and other external consulting services, including acquisition-related transaction expenses; costs associated with operating as a public company, including insurance costs, professional services, investor relations, and other compliance costs; property and use taxes; licenses, travel and entertainment costs; and allocated overhead.

Stock-based compensation

The Company recognizes stock-based compensation cost equal to the grant date fair value of stock-based awards. Stock-based awards include stock options, restricted stock units ("RSUs"), employee stock purchase plan (“ESPP”), performance-based restricted stock units (“PSUs”), and restricted stock awards (“RSAs”).

The fair value of RSUs, PSUs, and RSAs is based on the estimated fair value of the Company’s common stock on the grant date. The fair value of stock options and ESPP purchase rights is estimated on the grant date using the Black-Scholes option pricing model. For awards that vest solely based on continued service, the grant date fair value is recognized as compensation expense on a straight-line basis over the requisite service period of the awards, which is generally four years. For awards that contain both performance and service vesting conditions, the grant date fair value is recognized as compensation expense using a graded vesting attribution model. No expense is recognized for awards with performance conditions until that condition is probable of being met, therefore the portion of expense recognized in any period may fluctuate depending on changing estimates of the achievement of the performance conditions. Forfeitures are recorded when they occur.

Income taxes

The Company accounts for income taxes for the anticipated tax consequences of the reported results of operations using the asset and liability method. Under this method, deferred income tax assets and liabilities are determined based on the differences between the carrying amounts for financial reporting purposes and the tax bases of assets and liabilities. Deferred income tax assets and liabilities are measured using enacted tax rates anticipated to be in effect when those tax assets and liabilities are expected to be realized or settled. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in the accompanying consolidated statements of operations and comprehensive loss in the period that includes the enactment date.

A valuation allowance is established if, based upon the available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The Company considers all available evidence, both positive and negative, including historical levels of income, expectations and risk associated with estimates of future taxable income in assessing the need for a valuation allowance. Significant judgment is required in determining the provision for income taxes and deferred tax assets and liabilities.

The Company recognizes a tax benefit from an uncertain position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on its technical merits. If this threshold is met, the Company measures the tax benefit as the largest amount of the benefit that is greater than 50% likely of being realized upon ultimate settlement.

The Company recognizes penalties and interest accrued with respect to uncertain tax positions, if any, in the provision for income taxes in the accompanying consolidated statements of operations and comprehensive loss. Accrued penalties and interest related to uncertain tax positions were not material to any period presented.

Recently adopted accounting pronouncements

Improvements to Reportable Segment Disclosures

In November 2023, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2023-07, Segment Reporting (Topic 280) – Improvements to Reportable Segment Disclosures (“ASU 2023-07”). The new amendment expands reportable segment disclosure requirements through enhanced disclosures about significant segment expenses by requiring disclosure of incremental segment information on an annual and interim basis to enable investors to develop more decision-useful financial analysis. ASU 2023-07 is effective for public business entities for fiscal years beginning after December 31, 2023 and for interim periods within fiscal years beginning after December 31, 2024, with early adoption permitted. Upon adoption, public entities should apply the amendment retrospectively to all periods presented in the financial statements. The Company adopted the guidance for the fiscal year beginning January 1, 2024, and will implement the interim disclosure requirements in fiscal year 2025. There was no impact on the Company’s consolidated financial statements upon adoption.

Recently issued accounting pronouncements - not yet adopted

Disaggregation of Income Statement Expenses

In November 2024, the FASB issued ASU No. 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40) – Disaggregation of Income Statement Expenses (“ASU 2024-03”). The new amendment expands financial reporting by requiring that public entities disclose additional information about certain expense categories in tabular form in the notes to financial statements at interim and annual reporting periods. ASU 2024-03 is effective for public business entities for fiscal years beginning after December 15, 2026 and for interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted. Upon adoption, public entities should apply the amendment either (1) prospectively to financial statements issued for reporting periods after the effective date or (2) retrospectively to all periods presented in the financial statements. The Company is evaluating the impact of the adoption of ASU 2024-03 on its consolidated financial statements and disclosures.

Improvements to Income Tax Disclosure

In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740) – Improvements to Income Tax Disclosures (“ASU 2023-09”). The new amendment enhances transparency and usefulness of income tax disclosures by expanding disclosures in an entity’s income tax rate reconciliation table and income taxes paid. ASU 2023-09 is effective for public business entities for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is evaluating the impact of the adoption of ASU 2023-09 on its consolidated financial statements and disclosures.

INVESTMENTS

12 Months Ended

Dec. 31, 2024

Investments, Debt and Equity Securities [Abstract]

INVESTMENTS

Marketable securities

Marketable securities consisted of the following as of December 31, 2024 (in thousands):


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
U.S. treasury securities	$	126,916	$	142	$	(13)	$	127,045
Commercial paper	18,414		19		—		18,433
Corporate notes and obligations	237,965		339		(67)		238,237
Total marketable securities	$	383,295	$	500	$	(80)	$	383,715

Marketable securities consisted of the following as of December 31, 2023 (in thousands):


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
U.S. treasury securities	$	128,479	124		$	(27)	$	128,576
Commercial paper	47,415		1		(35)		47,381
Corporate notes and obligations	139,747		61		(128)		139,680
Time deposits	4,525		—		(1)		4,524
Total marketable securities	$	320,166	$	186	$	(191)	$	320,161

The following table summarizes the estimated fair value of investments classified as marketable securities by contractual maturity date (in thousands):


	December 31,
	2024		2023
Due within 1 year	$	337,673	$	320,161
Due in 1 to 2 years	46,042		—
Total marketable securities	$	383,715	$	320,161

During the year ended December 31, 2024, there were maturities of marketable securities of $440.5 million. There were no sales of marketable securities during the year ended December 31, 2024. During the year ended December 31, 2023, there were maturities of marketable securities of $372.2 million. There were $5.5 million sales of marketable securities during the year ended December 31, 2023. Realized losses on sales of marketable securities are recorded in other expense, net on the accompanying consolidated statements of operations and comprehensive loss. Such losses were immaterial during the years ended December 31, 2024 and 2023. There were no impairments of marketable securities in any period presented.

Strategic investments

Strategic investment activity during the year ended December 31, 2024 is summarized as follows (in thousands):


	Equity Securities		Limited Partnerships		Available-for-Sale Debt Securities		Total
Balance as of December 31, 2023	$	7,179	$	3,986	$	362	$	11,527
Interest accrued	—		—		6		6
Purchases of strategic investments	498		1,869		—		2,367
Conversion of available-for-sale debt securities into equity securities	368		—		(368)		—
Unrealized gains (losses)	824		(186)		—		638
Impairment losses	(184)		—		—		(184)
Balance as of December 31, 2024	$	8,685	$	5,669	$	—	$	14,354

Strategic investment activity during the year ended December 31, 2023 is summarized as follows (in thousands):


	Equity Securities		Limited Partnerships		Available-for-Sale Debt Securities		Total
Balance as of December 31, 2022	$	7,286	$	3,402	$	355	$	11,043
Interest accrued	—		—		7		7
Purchases of strategic investments	—		764		—		764
Unrealized gains (losses)	68		(180)		—		(112)
Impairment losses	(175)		—		—		(175)
Balance as of December 31, 2023	$	7,179	$	3,986	$	362	$	11,527

Strategic investments are recorded in other assets in the accompanying consolidated balance sheets. As of December 31, 2024, in connection with the Company’s investments in limited partnerships, it has a contractual obligation to provide additional investment funding of up to $6.7 million at the option of the investees.

FAIR VALUE OF FINANCIAL INSTRUMENTS

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

FAIR VALUE OF FINANCIAL INSTRUMENTS

Financial assets measured at fair value on a recurring basis within the fair value hierarchy are summarized as follows (in thousands):


	December 31, 2024
	Level 1		Level 2		Total
Cash equivalents:
Money market funds	$	384,648	$	—	$	384,648
Corporate notes and obligations	—		524		524
Marketable securities:
U.S. treasury securities	127,045		—		127,045
Commercial paper	—		18,433		18,433
Corporate notes and obligations	—		238,237		238,237
Total	$	511,693	$	257,194	$	768,887


	December 31, 2023
	Level 1		Level 2		Level 3		Total
Cash equivalents:
Money market funds	$	303,452	$	—	$	—	$	303,452
Marketable securities:
U.S. treasury securities	128,576		—		—		128,576
Commercial paper	—		47,381		—		47,381
Corporate notes and obligations	—		139,680		—		139,680
Time deposits	—		4,524		—		4,524
Strategic investments:
Investments in available-for-sale debt securities	—		—		362		362
Total	$	432,028	$	191,585	$	362	$	623,975

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
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-Name Accounting Standards Codification
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-Paragraph 100
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 2E
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Paragraph 6A
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

Property and equipment, net consisted of the following (in thousands):


	December 31,
	2024		2023
Leasehold improvements	$	38,715	$	29,681
Building improvements	6,311		6,311
Furniture and fixtures	11,579		12,146
Computers and equipment	29,212		22,177
Purchased software	1,660		928
Property and equipment	87,477		71,243
Less: accumulated depreciation and amortization	(43,885)		(34,985)
Property and equipment, net	$	43,592	$	36,258

Depreciation and amortization expense was $11.7 million, $11.8 million, and $11.1 million for the years ended December 31, 2024, 2023, and 2022, respectively.

LEASES

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

LEASES

The Company has primarily entered into lease arrangements for office space, in addition to other miscellaneous equipment. The Company’s leases have initial non-cancelable lease terms ranging from one to 10 years. Some of the Company’s lease arrangements include options to extend the term of the leases for up to 10 years. However, the lessor does not have the option to cancel any of the Company’s leases prior to the end of the remaining contractual term. Judgment is required when determining the minimum non-cancelable term of the lease. The Company includes options to extend or terminate the lease term that are reasonably certain of exercise. If facts and circumstances regarding those judgments change in future periods, the Company reassesses its initial estimate of the term. The Company’s corporate headquarters offices have initial lease terms expiring in 2027, and 10-year renewal options that the Company was reasonably certain it would exercise at lease commencement. The Company reassesses lease terms when there is a significant event or a significant change that is within its control that directly affects whether the Company is reasonably certain to exercise or not to exercise an option. The Company determined that the present value of lease payments represents substantially all of the fair value of the underlying leased asset and therefore recognizes its corporate headquarters as a finance lease. The components of lease expense were as follows (in thousands):


	Year Ended December 31,
	2024		2023		2022
Finance lease cost:
Amortization of right of use assets	$	2,645	$	2,672	$	2,705
Interest on lease liabilities	1,874		1,953		2,017
Operating lease cost	13,264		14,620		11,526
Short-term lease cost	742		1,344		674
Variable lease cost	5,038		4,821		5,667
Total lease cost	$	23,563	$	25,410	$	22,589

Supplemental information related to leases is as follows (in thousands):


	December 31,
	2024		2023
Operating Leases
Operating right of use assets	$	28,790	$	44,141
Amount included within other current liabilities	3,746		10,399
Operating lease liabilities, non-current	32,697		37,923
Total operating lease liabilities	$	36,443	$	48,322
Finance Leases
Finance right of use assets	$	31,727	$	34,375
Amount included within other current liabilities	2,228		2,019
Finance lease liabilities, non-current	41,352		43,581
Total finance lease liabilities	$	43,580	$	45,600


	December 31,
	2024		2023		2022
Weighted-average remaining lease term (in years)
Finance leases	12.2		13.2		14.2
Operating leases	8.9		5.5		6.6
Weighted-average discount rate
Finance leases	4.21	%	4.21	%	4.20	%
Operating leases	6.10	%	3.58	%	2.89	%

Maturities of lease payments, net of tenant improvement reimbursement, for leases where the lease commencement date commenced on or prior to December 31, 2024 are as follows (in thousands):


Years Ending December 31,	Operating		Finance		Total
2025	$	(3,157)	$	4,013	$	856
2026	3,156		4,126		7,282
2027	5,291		4,288		9,579
2028	6,738		4,424		11,162
2029	5,398		4,512		9,910
Thereafter	37,258		35,021		72,279
Total lease payments, net of tenant improvement reimbursement	$	54,684	$	56,384	$	111,068
Less imputed interest	(18,241)		(12,804)		(31,045)
Total	$	36,443	$	43,580	$	80,023

During the year ended December 31, 2024, the Company modified its office leases in Austin, Texas to extend the lease terms and adjust the rent obligations, which resulted in an increase of $10.7 million in future rent commitments from the modification date through 2036. In February 2025, the Company further modified its office leases in Austin, Texas to expand the leased premises and extend the lease terms, which resulted in an additional $22.0 million in future rent commitments, net of tenant improvement reimbursement, starting in 2025. Total operating lease commencements and modifications during the period resulted in net decreases to right of use assets–operating leases and corresponding operating lease liabilities on the accompanying consolidated balance sheets of $4.0 million and $4.3 million, respectively, which primarily relate to the modified lease in

Texas. These decreases to the asset and liability were primarily due to higher discount rates in 2024 as compared to the original lease commencement periods, and tenant improvement allowances.

As of December 31, 2024, operating lease payments for leases greater than one month, but less than 12 months in duration were not significant. As of December 31, 2024, the Company had outstanding letters of credit totaling approximately $4.3 million on an unsecured basis to secure various leased office facilities in the U.S. and Australia.

BUSINESS COMBINATIONS

12 Months Ended

Dec. 31, 2024

Business Combinations [Abstract]

BUSINESS COMBINATIONS

Intelliwave

On May 30, 2024, the Company completed the acquisition of all outstanding equity of Intelliwave Technologies Inc. (“Intelliwave”), a construction materials management company, for $29.8 million in cash consideration. The purpose of this acquisition was to accelerate development of the Company’s Resource Management solution.

On the acquisition date, $4.3 million in cash was placed in an escrow account held by a third-party escrow agent for potential breaches of representations, warranties, and indemnities. $3.8 million of the escrow amount was included in the purchase consideration and is scheduled to be released from escrow to Intelliwave stockholders 18 months after the acquisition date (subject to any indemnification claims). The remaining $0.5 million of the escrow amount was released in February 2025.

The preliminary purchase consideration was allocated to the following assets and liabilities at the acquisition date (in thousands):


	Fair Value		Useful Life
Assets acquired
Cash and cash equivalents	$	2,390
Accounts receivable	964
Prepaid expenses and other current assets	17
Other non-current assets	388
Developed technology intangible asset	16,000		7 years
Customer relationships intangible asset	4,700		10 years
Goodwill	11,333
Total assets acquired	$	35,792
Liabilities assumed
Deferred revenue, current	(2,210)
Other current liabilities	(2,605)
Other non-current liabilities	(388)
Net deferred tax liabilities	(790)
Total liabilities assumed	$	(5,993)
Net assets acquired	$	29,799

The measurement period for the valuation of assets acquired and liabilities assumed ends as soon as information on the facts and circumstances that existed as of the acquisition date becomes available, but does not exceed 12 months. The purchase price allocation is subject to future adjustments. During the year ended December 31, 2024, the Company recorded a measurement period adjustment which did not have a material impact on goodwill.

Developed technology intangible asset represents the fair value of Intelliwave’s technology, which was valued considering both the cost to rebuild and relief from royalty methods. Key assumptions under the cost to rebuild method include the estimated level of effort and related costs of reproducing or replacing the acquired technology. Key assumptions under the relief from royalty method include forecasted revenue to be generated from the developed technology, an estimated royalty rate applicable to the technology, and a discount rate. Developed technology is amortized on a straight-line basis, which approximates the pattern in which the economic benefits of the technology are consumed, over its estimated useful life of seven years. The amortization expense is recorded in cost of revenue in the accompanying consolidated statements of operations and comprehensive loss.

Customer relationships represent the fair value of the underlying relationships with Intelliwave’s existing customers, which were valued using the excess earnings method. Key assumptions under the excess earnings method include estimated future revenues, costs, cash flows, and a discount rate. The customer relationship intangible asset is amortized on a straight-line basis, which approximates the pattern in which the economic benefits of the customer relationships are consumed, over its estimated useful life of ten years. The amortization expense is recorded in sales and marketing expenses in the accompanying consolidated statements of operations and comprehensive loss.

The $11.3 million goodwill balance is primarily attributable to synergies and expanded market opportunities that are expected to be achieved from the integration of Intelliwave with the Company’s products, services, platform, and assembled workforce. Substantially all of the goodwill balance is not deductible for income taxes purposes.

The Company issued 65,269 PSUs and 67,807 RSUs at a grant date fair value of $68.96 per share in order to retain certain employees of Intelliwave. The PSUs issued to Intelliwave employees will vest upon the achievement of certain integration milestones. The total grant date fair value of the PSUs and RSUs was excluded from purchase consideration and is recognized as post-combination expense. See Note 10 to these consolidated financial statements for details on how the Company expenses stock-based compensation.

The Company has not separately presented pro forma results reflecting the acquisition of Intelliwave or revenue and operating losses of Intelliwave for the period from the acquisition date through December 31, 2024, as the impacts were not material to the consolidated financial statements. The acquisition-related transaction costs were not material and were expensed as incurred in the accompanying consolidated statements of operations and comprehensive loss.

INTANGIBLE ASSETS AND GOODWILL

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS AND GOODWILL

Intangible assets

During the year ended December 31, 2024, the Company completed the acquisition of Intelliwave, which was accounted for as a business combination, as described in Note 7 above. The Company also completed an asset acquisition for $3.9 million. The acquired developed technology intangible asset has an estimated useful life of four years, and the amortization expense is recorded in cost of revenue on the accompanying consolidated statements of operations and comprehensive loss.

During the year ended December 31, 2023, the Company completed the acquisition of all outstanding equity of Unearth Technologies Inc. for $9.2 million. The acquisition was accounted for as an asset acquisition as substantially all of the fair value of the gross assets acquired were concentrated in a single identifiable asset. The acquired developed technology intangible asset has an estimated useful life of five years, and the amortization expense is recorded in cost of revenue on the accompanying consolidated statements of operations and comprehensive loss. The Company also acquired a $2.8 million IPR&D intangible asset, which was capitalized as an indefinite-lived intangible asset and recorded in intangible assets within the accompanying consolidated balance sheet.

No impairments of IPR&D were recorded during the years ended December 31, 2024 or 2023.

The Company’s finite-lived and indefinite-lived intangible assets are summarized as follows (dollars in thousands):


	December 31, 2024
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted-Average Remaining Useful Life (Years)
Developed technology	$	185,947	$	(95,216)	$	90,731	4.0
Customer relationships	71,050		(43,683)		27,367		4.9
Total finite-lived intangible assets	256,997		(138,899)		118,098		4.2
In-process research and development	2,848				2,848
Total intangible assets	$	259,845	$	(138,899)	120,946


	December 31, 2023
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted-Average Remaining Useful Life (Years)
Developed technology	$	166,453	$	(67,221)	$	99,232	4.3
Customer relationships	66,350		(30,884)		35,466		4.2
Total finite-lived intangible assets	232,803		(98,105)		134,698		4.3
In-process research and development	2,848		—		2,848
Total intangible assets	$	235,651	$	(98,105)	$	137,546

The Company estimates that there is no significant residual value related to its finite-lived intangible assets. Amortization expense recorded on the Company's finite-lived intangible assets is summarized as follows (in thousands):


	Year Ended December 31,
	2024		2023		2022
Cost of revenue	$	25,437	$	22,396	$	22,428
Sales and marketing	12,700		12,425		12,425
Research and development	2,657		2,757		3,528
Total amortization of acquired finite-lived intangible assets	$	40,794	$	37,578	$	38,381

The following table outlines the estimated future amortization expense related to finite-lived intangible assets (in thousands):


Years Ending December 31,
2025	$	38,776
2026	24,198
2027	23,354
2028	19,715
2029	4,752
Thereafter	7,303
Total	$	118,098

Goodwill

The following table presents the changes in carrying amount of goodwill (in thousands):


	Year Ended December 31,
	2024		2023
Beginning balance	$	539,354	$	539,128
Additions	11,333		—
Other adjustments, net (1)	(1,036)		226
Ending balance	$	549,651	$	539,354

(1) Includes post-closing working capital adjustments and the effect of foreign currency translation.

There was no impairment of goodwill during any period presented.

CAPITALIZED SOFTWARE DEVELOPMENT COSTS

12 Months Ended

Dec. 31, 2024

Capitalized Software Development Costs [Abstract]

CAPITALIZED SOFTWARE DEVELOPMENT COSTS

The Company’s capitalized software development costs are summarized as follows (in thousands):


	December 31,
	2024		2023
Gross carrying amount	$	205,158	$	143,403
Accumulated amortization	(92,837)		(60,358)
Net capitalized software costs (1)	$	112,321	$	83,045

(1) December 31, 2024 and 2023, the above balances include $9.7 million and $12.5 million, respectively, of capitalized software costs developed by the Company for internal use.

Amortization of capitalized software related to the Company's SaaS platform was $29.3 million, $17.6 million, and $10.6 million for the years ended December 31, 2024, 2023, and 2022, respectively, and is recorded in cost of revenue within the accompanying consolidated statements of operations and comprehensive loss. Amortization of capitalized software related to software used internally was $3.2 million and $1.7 million for the years ended December 31, 2024 and 2023, respectively, and is recorded in operating expenses within the accompanying consolidated statements of operations and comprehensive loss.

During 2024, 2023, and 2022, the Company recorded expense for certain software development costs of $0.4 million, $0.4 million, and $0.3 million, respectively, within research and development expense in the accompanying consolidated statements of operations and comprehensive loss, relating to development projects the Company decided to abandon prior to completion.

The estimated amortization is comprised of (i) amortization of completed software and (ii) the expected amortization for software that is not yet complete based on its estimated economic lives and projected completion dates. The following table presents the remaining estimated amortization of capitalized software development costs as of December 31, 2024 (in thousands):


Years Ending December 31,
2025	$	53,557
2026	44,574
2027	13,115
2028	897
2029	162
Thereafter	16
Total	$	112,321

ACCRUED EXPENSES

12 Months Ended

Dec. 31, 2024

Accrued Liabilities, Current [Abstract]

ACCRUED EXPENSES

The following represents the components of accrued expenses contained within the Company’s consolidated balance sheets at the end of each period (in thousands):


	December 31,
	2024		2023
Accrued bonuses	$	28,878	$	31,786
Accrued commissions	17,885		16,494
Accrued salary, payroll tax, and employee benefit liabilities	25,210		36,171
Other accrued expenses	16,767		15,624
Total accrued expenses	$	88,740	$	100,075

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2024

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

Purchase commitments

As of December 31, 2024, future minimum payments under our non-cancellable purchase commitments for software service subscriptions and other services were as follows (in thousands):


Years Ending December 31,
2025	$	28,676
2026	15,815
2027	4,759
2028	2,558
Thereafter	—
Total	$	51,808

Litigation

From time to time, the Company may be subject to various litigation matters arising in the ordinary course of business. However, the Company is not aware of any currently pending legal matters or claims that could have a material adverse effect on its financial position, results of operations, or cash flows should such litigation be resolved unfavorably.

Indemnifications

In the ordinary course of business, the Company may provide indemnification of varying scope and terms to customers, vendors, investors, directors, and officers with respect to certain matters, including, but not limited to, losses arising out of its breach of such agreements, breaches of confidentiality or data protection requirements, services to be provided by the Company, or from intellectual property infringement claims made by third parties. These indemnification provisions may survive termination of the underlying agreement, and the maximum potential amount of future payments the Company could be required to make under these indemnification provisions may not be subject to maximum loss clauses or be covered by the Company's insurance programs. The maximum potential amount of future payments the Company could be required to make under these indemnification provisions is indeterminable.

The Company has never paid a material claim, nor has the Company been sued in connection with these indemnification arrangements. To date, the Company has not accrued a liability for these guarantees because the likelihood of incurring a payment obligation, if any, in connection with these guarantees is not probable or reasonably estimable.

STOCK-BASED COMPENSATION

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

2021 Equity Incentive Plan

In May 2021, the Company’s board of directors (the “Board”) adopted, and the stockholders approved, the 2021 Equity Incentive Plan (the “2021 Plan”) with the purpose of granting stock-based awards, including stock options, stock appreciation rights, RSAs, RSUs, PSUs, and other forms of awards, to employees, directors, and consultants. As of December 31, 2023, a total of 44,622,937 shares of common stock were authorized for issuance under the 2021 Plan. The number of shares of the Company’s common stock reserved for issuance under the 2021 Plan automatically increases on January 1 of each calendar year, starting on January 1, 2022 through January 1, 2031, in an amount equal to either (i) 5% of the total number of shares of the Company’s common stock outstanding on December 31 of the fiscal year before the date of each automatic increase, or (ii) a lesser number of shares determined by the Board prior to the applicable January 1. Accordingly, on January 1, 2024, the number of shares of common stock that may be issued under the 2021 Plan increased by an additional 7,240,323 shares. As a result, as of December 31, 2024, a total of 51,863,260 shares of common stock are authorized for issuance under the 2021 Plan. As of December 31, 2024, a total of 32,973,402 shares of common stock were available for issuance under the 2021 Plan. No stock options have been issued under the 2021 Plan.

Stock options

No stock options were granted during the periods presented.

The following table summarizes the stock option activity during the year ended December 31, 2024 (aggregate intrinsic value in thousands):


	Number of Shares	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life	Aggregate Intrinsic Value
Outstanding at December 31, 2023	4,340,052	$	12.57	4.1	$	245,884
Exercised	(1,187,141)	13.29
Canceled/Forfeited	(753)	19.18
Outstanding at December 31, 2024	3,152,158	12.29		3.2	198,832
Exercisable at December 31, 2024	3,152,158	$	12.29	3.2	$	198,832

The intrinsic value of options exercised during the years ended December 31, 2024, 2023, and 2022 was $67.6 million, $66.7 million, and $75.1 million, respectively. As of December 31, 2024, there is no unrecognized stock-based compensation cost for stock options previously granted by the Company.

Restricted stock units

Service-based restricted stock units

In 2018, the Company began issuing RSUs to certain employees, officers, non-employee consultants, and directors. Other than as described below, all of the RSUs granted subsequent to the Company’s initial public offering (“IPO”) vest based solely on continued service, which is generally over four years on either a quarterly or annual vesting schedule.

The grant date fair value of RSUs granted during 2024, 2023, and 2022 was $318.4 million, $238.8 million, and $323.0 million, respectively.

The following table summarizes the RSU activity during the year ended December 31, 2024:


	Number of Shares	Weighted-Average Grant Date Fair Value
Unvested at December 31, 2023	7,382,073	$	59.35
Granted	4,352,805	73.14
Vested	(3,359,397)	61.54
Canceled/Forfeited	(1,304,038)	64.81
Unvested at December 31, 2024	7,071,443	$	65.85

The intrinsic value of RSUs vested during the years ended December 31, 2024, 2023, and 2022 was $232.9 million, $221.9 million, and $156.4 million, respectively.

As of December 31, 2024, the total unrecognized stock-based compensation cost for all RSUs outstanding at that date was $434.1 million, which is expected to be recognized over a weighted-average vesting period of 2.6 years.

Performance-based restricted stock units

In 2022, the Company began granting PSUs to certain non-executive employees with vesting terms based on the achievement of certain operating performance goals. In March 2024, the Company granted its CEO an aggregate target number of 46,986 PSUs (the “CEO PSUs”) that would vest (if at all) over a three-year period, subject to the achievement of certain financial performance goals and continued service through the applicable vesting date. A target number of 35,239 CEO PSUs (75% of the CEO PSUs) was eligible to vest based on the attainment level of a revenue performance goal for fiscal year 2024, which was set at the beginning of fiscal year 2024, with a payout range of 0% to 200% of target. A target number of 11,747 CEO PSUs (25% of the CEO PSUs) was eligible to vest based on the attainment of a non-GAAP operating margin performance goal for fiscal year 2024, which was set at the beginning of fiscal year 2024, with a payout range of 0% to 150% of target. The actual number of CEO PSUs that became eligible to vest was determined based on the attainment level of the applicable performance goal, as certified by the Compensation Committee of the Board. As of December 31, 2024, the non-GAAP operating margin performance goal was achieved and the revenue performance goal was not achieved, which were certified in February 2025. As a result, one-third of the CEO PSUs that became eligible to vest vested on February 20, 2025. The remaining CEO PSUs that became eligible to vest will vest in substantially equal installments quarterly over the two years following February 20, 2025.

The Company recognizes compensation expense for PSUs in the period in which it becomes probable that the underlying performance target will be achieved. Compensation expense for awards that contain

performance conditions is calculated using the graded vesting method and the portion of expense recognized in any period may fluctuate depending on changing estimates of the achievement of the performance conditions.

The grant date fair value of PSUs granted during 2024, 2023, and 2022 was $9.5 million, $1.9 million, and $3.4 million, respectively.

The following table summarizes the PSU activity during the year ended December 31, 2024:


	Number of Shares	Weighted-Average Grant Date Fair Value
Unvested at December 31, 2023	77,971	$	55.63
Granted(1)	127,465	74.36
Vested	(34,435)	67.21
Canceled/Forfeited	(15,210)	63.52
Unvested at December 31, 2024	155,791	$	67.63

(1) This represents awards granted at 100% attainment of the performance conditions.

The intrinsic value of PSUs vested during the years ended December 31, 2024, 2023, and 2022 was $2.3 million, $0.7 million, and $0.5 million, respectively.

As of December 31, 2024, the total unrecognized stock-based compensation cost for all PSUs outstanding at that date was $2.8 million, which is expected to be recognized over a weighted-average vesting period of 1.7 years.

Restricted stock awards

In November 2021, the Company issued 199,670 RSAs to certain key employees in connection with the acquisition of Levelset that vest based on their continued service over a two-year period. The fair value of the RSAs issued was $95.05 per share, which was the closing trading stock price of the Company’s common stock on the acquisition date. These shares are released from restriction quarterly over a two-year period assuming the continued service of the employees. As of December 31, 2023, all shares have vested. As of December 31, 2022, 99,833 shares had vested. During the years ended December 31, 2023 and 2022, the Company recognized stock-based compensation expense of $7.8 million and $9.5 million, respectively, relating to these shares.

Employee Stock Purchase Plan

In May 2021, the Board adopted, and the stockholders approved, the ESPP, which became effective immediately prior to the effective date of the Company’s IPO. As of December 31, 2023, a total of 5,332,064 shares of common stock had been reserved for issuance under the ESPP. The number of shares of the Company’s common stock reserved for issuance under the ESPP automatically increases on January 1 of each year for a period of ten years, beginning on January 1, 2022 and continuing through January 1, 2031, by the lesser of (i) 1% of the total number of shares of the Company’s common stock outstanding on December 31 of the immediately preceding year; and (ii) 3,900,000 shares, except before the date of any such increase, the Board may determine that such increase will be less than the amount set forth in clauses (i) and (ii). Accordingly, on January 1, 2024, the number of shares of common stock reserved under the ESPP increased by an additional 1,448,064 shares.

The offering periods are scheduled to start in May and November of each year. The ESPP provides for consecutive offering periods that will typically have a duration of 12 months in length and comprise two purchase periods of six months in length, subject to reset and rollover provisions.

The ESPP provides eligible employees with an opportunity to purchase shares of the Company’s common stock through payroll deductions of up to 15% of their eligible compensation, subject to a maximum of $25,000 of stock per calendar year. A participant may purchase a maximum of 2,500 shares of common stock during a purchase period. Amounts deducted and accumulated by the participant are used to purchase shares of common stock at the end of each six-month purchase period. The purchase price of the shares will be 85% of the lower of the fair market value of the common stock on (i) the first trading day of the applicable offering period and (ii) the last trading day of each purchase period in the related offering period. However, in the event the fair value of the common stock on the purchase date is lower than the fair value on the first trading day of the offering period, the offering period is terminated immediately following the purchase and a new offering period begins the following day. Participants may end their participation at any time prior to the last 15 days of a purchase period and will be repaid their accrued contributions that have not yet been used to purchase shares of common stock. Participation ends automatically upon termination of employment.

The fair value of the ESPP purchase rights on the date of grant using the Black-Scholes option pricing model was estimated using the following assumptions:

December 31,

2024

2023

2022

Risk-free interest rate

4.29% to 5.33%

4.68% to 5.33%

1.47% to 4.55%

Expected term (in years)

0.5 to 1.0

Estimated dividend yield

0.00%

Estimated weighted-average volatility

29.80% to 44.34%

46.29% to 64.76%

61.14% to 72.69%

The term of the ESPP purchase rights is the offering period. Beginning in the fourth quarter of 2023, the Company estimates volatility for ESPP purchase rights based on the historical volatility of its own common stock price. Prior to that, given the Company’s limited trading history, the Company estimated volatility using the historical volatilities of a group of public companies in a similar industry and stage of life cycle, selected by management, in addition to considering the Company’s own historical volatility, for a period commensurate with the term of the ESPP purchase rights. The interest rate is derived from government bonds with a similar term to the ESPP purchase right granted. The Company has not declared, nor does it expect to declare, dividends in the foreseeable future. Consequently, an expected dividend yield of zero was utilized. The fair value of the Company’s common stock used to value ESPP purchase rights is based on the trading price of its publicly traded common stock.

Employee payroll contributions accrued in connection with the ESPP were $5.4 million and $5.0 million as of December 31, 2024 and 2023, respectively, and are included within accrued expenses in the accompanying consolidated balance sheets. Employee payroll contributions ultimately used to purchase shares will be reclassified to stockholders’ equity on the purchase date. Stock-based compensation expense related to the ESPP is recognized on a straight-line basis over the offering period. During the years ended December 31, 2024, 2023, and 2022, the Company recognized stock-based compensation of $9.3 million, $10.7 million, and $15.0 million, respectively, in connection with the ESPP. During the years ended December 31, 2024, 2023, and 2022, 465,698, 575,928, and 551,753 shares of the Company’s common stock were purchased under the ESPP, respectively.

As of December 31, 2024, unrecognized stock-based compensation expense related to the ESPP was $7.5 million, which is expected to be recognized over a weighted-average period of 0.5 years.

Stock repurchase program

In October 2024, the Board authorized a stock repurchase program to repurchase up to $300.0 million of the Company’s outstanding common stock. The Company intends to opportunistically repurchase shares of its common stock from time to time through the open market, or other transactions in accordance with applicable securities laws, in each case, subject to market conditions, applicable legal requirements, and other relevant factors. Open market repurchases may be structured to occur in accordance with the requirements of Rule 10b-18 of the Securities Exchange Act of 1934, as amended. The Company may also, from time to time, enter

into Rule 10b5-1 trading plans to facilitate repurchases of its common stock under this authorization. The timing of stock repurchases and the actual number of shares repurchased will depend on a variety of factors, including price, general business and market conditions, and alternative investment opportunities, and will be subject to the discretion of the Company’s management within its authorization. The stock repurchase program will be funded using the Company's working capital. The stock repurchase program does not obligate the Company to acquire any particular number of shares of the Company’s common stock, or any shares at all. The stock repurchase program expires on October 29, 2025, and may be suspended or discontinued at any time at the Company's discretion and without notice. The Company did not repurchase any shares under its stock repurchase program during the year ended December 31, 2024.

Stock-based compensation

The Company recorded total stock-based compensation cost from stock options, RSUs, PSUs, ESPP, RSAs, and sales of stock by employees in excess of fair value as follows (in thousands):


	Year Ended December 31,
	2024		2023		2022
Cost of revenue	$	8,191	$	7,388	$	7,253
Sales and marketing	57,629		54,901		53,397
Research and development	67,926		68,265		63,262
General and administrative	53,134		44,281		38,974
Total stock-based compensation expense	$	186,880	$	174,835	$	162,886
Stock-based compensation capitalized for software development and cloud-computing arrangement implementation costs	13,339		9,717		8,818
Total stock-based compensation cost	$	200,219	$	184,552	$	171,704

There were no net tax benefits recognized in the accompanying consolidated statements of operations and comprehensive loss for stock-based compensation arrangements for the years ended December 31, 2024, 2023, and 2022 due to the Company having a full valuation allowance against its deferred tax assets.

INCOME TAXES

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

INCOME TAXES

The domestic and foreign components of loss before provision for income taxes consisted of the following (in thousands):


	Year Ended December 31,
	2024		2023		2022
Domestic	$	(110,860)	$	(191,132)	$	(287,569)
Foreign	6,679		2,711		1,104
Total	$	(104,181)	$	(188,421)	$	(286,465)

The provision for income taxes is comprised of the following (in thousands):


	Year Ended December 31,
	2024		2023		2022
Current:
State	$	1,094	$	709	$	442
Foreign	1,562		1,333		307
Total	2,656		2,042		749
Deferred:
Federal	9		4		(34)
State	13		6		93
Foreign	(903)		(779)		(342)
Total	(881)		(769)		(283)
Provision for income taxes	$	1,775	$	1,273	$	466

The following table provides a reconciliation between income taxes computed at the U.S. federal statutory rate and the Company’s provision for income taxes (in thousands):


	Year Ended December 31,
	2024		2023		2022
Computed expected income tax benefit	$	(21,890)	$	(39,568)	$	(60,120)
State income taxes - net of federal income tax benefit	(5,230)		(6,175)		(10,197)
Change in valuation allowance	50,681		42,855		81,251
Non-deductible expenses	1,859		4,489		2,687
Non-deductible base erosion expenses	4,481		11,403		—
Non-deductible officers’ compensation	9,885		12,775		3,648
Stock-based compensation	(8,676)		(9,678)		135
Tax credits (federal and state)	(21,049)		(18,226)		(16,853)
Foreign rate differential	(102)		40		35
Return-to-provision	(8,127)		3,110		(7)
Other	(57)		248		(113)
Provision for income taxes	$	1,775	$	1,273	$	466

Significant components of the Company’s deferred tax assets and liabilities are presented below (in thousands):


	December 31,
	2024		2023
Deferred tax assets:
Net operating loss	$	206,684	$	215,915
Tax credits	96,711		76,504
Lease liabilities	17,108		20,213
Stock-based compensation	9,824		14,899
Capitalized software cost	91,563		59,487
Other	9,011		5,531
Total deferred tax assets	430,901		392,549
Valuation allowance	(372,901)		(324,422)
Total deferred tax assets, net	58,000		68,127

Deferred tax liabilities:
Lease assets	(12,264)		(16,376)
Acquired intangible assets	(23,545)		(32,120)
Contract cost asset	(18,922)		(16,868)
Prepaid and accrued expenses	(3,816)		(3,184)
Other	(897)		(1,201)
Total deferred tax liabilities	(59,444)		(69,749)
Total	$	(1,444)	$	(1,622)

In assessing the realizability of deferred tax assets, management considers whether it is “more likely than not” that some portion or all of the deferred tax assets will be realized. Realization of future tax benefits is dependent on the Company’s ability to generate sufficient taxable income within the carryforward period. Based on all available objective evidence management believes it is “more likely than not” that the net deferred tax assets will not be fully realizable in the U.S. as of December 31, 2024 and 2023. Accordingly, the Company’s U.S. net deferred tax assets have been fully offset by a valuation allowance. The Company periodically evaluates the recoverability of the deferred tax assets and when it is determined to be “more likely than not” that the deferred tax assets are realizable, the valuation allowance is reduced. The net deferred tax liability position at December 31, 2024 and 2023 was primarily related to the Company’s Australia and Canada tax jurisdictions.

The following table summarizes the activity related to the valuation allowance (in thousands):


	Year Ended December 31,
	2024		2023		2022
Beginning balance	$	324,422	$	282,337	$	204,182
Current year change	48,479		40,810		78,155
Increase in valuation allowance as a result of purchase accounting for business combinations	—		1,275		—
Ending balance	$	372,901	$	324,422	$	282,337

The current year change in the valuation allowance for the year ended December 31, 2024, resulted primarily from a net increase in our U.S. federal and state deferred tax assets. The Company did not provide for U.S. income taxes on the undistributed earnings and other outside temporary differences of foreign subsidiaries

as they are considered indefinitely reinvested outside the U.S. At December 31, 2024 and 2023, the amount of temporary differences related to undistributed earnings and other outside temporary differences upon which U.S. income taxes have not been provided is immaterial to these consolidated financial statements.

As of December 31, 2024, the Company had federal net operating loss carryforwards (“NOL carryforwards”) of $822.6 million, which are comprised of definite and indefinite net operating losses. At December 31, 2024, the Company had federal NOL carryforwards of approximately $73.5 million, which expire at various intervals from the years 2036 through 2037 and had NOL carryforwards of $749.2 million which do not expire. As of December 31, 2024, the Company has state net operating losses of $626.7 million, which will begin to expire in 2029. The Internal Revenue Code (the “IRC”) of 1986, as amended, imposes restrictions on the utilization of net operating losses and credits when a Company experiences a cumulative change in ownership of more than 50% over a three-year period. The Company has identified a portion of net operating losses and credit carryovers are subject to annual limitations, which the Company has also determined that it should be able to fully utilize these net operating losses and credit carryovers before they expire, provided the Company generates sufficient taxable income.

As of December 31, 2024, the Company had credits for research activities available for carryforward for federal income tax purposes of $96.2 million and for state income tax purposes of $39.2 million, which are available to offset future income tax in those jurisdictions and which began to expire in 2024 for federal and have no expiration for state.

The following table summarizes the activity related to unrecognized tax benefits (in thousands):


	Year Ended December 31,
	2024		2023		2022
Beginning balance	$	29,041	$	21,727	$	17,010
Increases related to current period positions	8,564		7,513		5,915
Increases (decreases) related to prior period positions	625		(199)		(1,198)
Ending balance	$	38,230	$	29,041	$	21,727

Due to the Company’s full valuation allowance on federal and state taxes, none of the unrecognized tax benefits would affect the Company’s effective tax rate, if recognized. The Company does not anticipate any significant increases or decreases to its unrecognized tax positions within the next 12 months. The Company’s practice is to recognize interest and penalties related to income tax matters in income tax expense. As of December 31, 2024 and 2023, accrued interest and penalties related to income tax positions were immaterial.

The Company files U.S. federal, various state, and foreign income tax returns. In the normal course of business, the Company is subject to examination by taxing authorities. The tax years from 2005 forward remain subject to examination for federal purposes. Generally, state and foreign tax authorities may examine the Company’s tax returns for four years and five years, respectively, from the date an income tax return is filed. However, the taxing authorities may continue to examine the Company’s federal and state NOL carryforwards until the statute of limitations closes on the tax years in which the federal and state net operating losses are utilized. At December 31, 2024, tax years 2016 to 2020 were under examination by the Egyptian Taxing Authority. Our foreign operations in Egypt represent an immaterial portion of our overall business.

- Definition

The entire disclosure for income tax.

+ References

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+ Details

NET LOSS PER SHARE

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

NET LOSS PER SHARE

Basic and diluted net loss per share is presented in conformity with the two-class method required for participating securities. Basic net loss per share attributable to common stockholders is calculated by dividing the net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period.

As the Company has reported net losses attributable to common stockholders for all periods presented, all potentially dilutive securities are antidilutive and accordingly, basic net loss per share attributable to common stockholders equals diluted net loss per share attributable to common stockholders.

The following weighted-average potentially dilutive shares are excluded from the calculation of diluted earnings per share as they are anti-dilutive:


	Year Ended December 31,
	2024	2023	2022
RSUs, PSUs, and RSAs subject to future vesting	7,687,943	8,489,902	8,189,247
Shares issuable pursuant to the ESPP	368,770	495,554	627,698
Shares of common stock issuable from stock options	3,651,108	4,979,813	6,450,019
Total	11,707,821	13,965,269	15,266,964

EMPLOYEE BENEFIT PLANS	12 Months Ended
EMPLOYEE BENEFIT PLANS	Dec. 31, 2024
Retirement Benefits [Abstract]
EMPLOYEE BENEFIT PLANS	EMPLOYEE BENEFIT PLANS The Company has a defined-contribution plan in the U.S. intended to qualify under Section 401 of the IRC (the “401(k) Plan”). The 401(k) Plan covers substantially all U.S. employees who meet minimum age and service requirements and allows participants to defer a portion of their annual compensation on a pre-tax basis. The Company makes contributions to the plan up to 4% of the participating employee’s W-2 earnings and wages, up to a maximum contribution of $5,000. Matching contributions to the 401(k) Plan totaled $13.4 million, $17.2 million, and $14.7 million for the years ended December 31, 2024, 2023, and 2022, respectively. The Company also has defined-contribution plans in certain other countries. The Company made matching contributions to these plans totaling $4.0 million, $3.6 million, and $2.8 million for the years ended December 31, 2024, 2023, and 2022, respectively.

- Definition

The entire disclosure for retirement benefits.

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+ Details

GEOGRAPHIC INFORMATION

12 Months Ended

Dec. 31, 2024

Geographic Areas, Revenues from External Customers [Abstract]

GEOGRAPHIC INFORMATION

The following table sets forth the Company’s revenues by geographic region, which is determined based on the billing location of the customer (in thousands):


	Year Ended December 31,
	2024			2023			2022
Revenue by geographic region
U.S.	$	981,869		$	815,773		$	616,654
Rest of the world	169,839			134,237			103,549
Total revenue	$	1,151,708		$	950,010		$	720,203
Percentage of revenue by geographic region
U.S.	85		%	86		%	86		%
Rest of the world	15		%	14		%	14		%

The following table sets forth the total of property and equipment, net, and ROU lease assets by geographic region (in thousands):


	December 31,
	2024		2023
U.S.	$	89,522	$	97,936
Rest of the world	14,587		16,838
Total	$	104,109	$	114,774

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

RESTRUCTURING

12 Months Ended

Dec. 31, 2024

Restructuring and Related Activities [Abstract]

RESTRUCTURING

In January 2024, the Company executed a reduction of 4% of its global workforce as part of its ongoing evaluation of its operations to ensure alignment of its workforce with, and to enable greater investment in, key growth opportunities. The reduction in force was completed by March 31, 2024.

The following table summarizes the severance and other benefit costs incurred during the year ended December 31, 2024 by line item within the consolidated statement of operations and comprehensive loss related to this restructuring event (in thousands):


Cost of revenue	$	318
Sales and marketing	1,298
Research and development	1,750
General and administrative	819
Total restructuring-related costs	$	4,185

As of December 31, 2024, there was no liability remaining for restructuring-related costs.

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Dec. 31, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS The Company has evaluated subsequent events through February 26, 2025, the date these consolidated financial statements were available to be issued, and has identified the following subsequent events. On January 28, 2025, the Company completed the acquisition of all outstanding equity of Novorender AS (“Novorender”), a Norway-based leader in advanced building informational modeling rendering technology, to enhance Procore’s capabilities for large-scale construction projects. The estimated purchase price is approximately $50.5 million in cash, subject to customary post-closing adjustments for working capital, transaction expenses, cash, debt, and the determination of any consideration for post-combination services. Due to the timing of this acquisition, the initial accounting for the acquisition, including the final purchase price and purchase price allocation, which will require a valuation as of the acquisition date, is incomplete. As such, the Company is not able to disclose certain information relating to the acquisition, including the preliminary fair value of assets acquired and liabilities assumed. In February 2025, the Company began using cash to fund withholding taxes due upon the vesting of employee RSUs by net share settlement, rather than the Company's previous approach of selling shares of its common stock issued to employees to cover applicable withholding taxes. The amount of withholding taxes related to net share settlement of employee RSUs was $28.3 million in February 2025.

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ (105,956)	$ (189,694)	$ (286,931)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

Insider Trading Arrangements

3 Months Ended

12 Months Ended

Dec. 31, 2024

shares

Dec. 31, 2024

shares

Trading Arrangements, by Individual

Material Terms of Trading Arrangement

During the quarterly period ended December 31, 2024, our directors and officers (as defined in Rule 16a-1(f) under the Exchange Act) adopted or terminated the contracts, instructions, or written plans for the purchase of sale of our securities as set forth in the table below.

Type of Trading Arrangement

Name and Position

Action

Adoption/Termination Date

Rule 10b5-1(1)

Non-Rule 10b5-1(2)

Total Shares of Common Stock to be Sold(3)

Expiration Date

Kevin J. O’Connor, Director

Adoption

November 21, 2024

x

250,000

April 16, 2026

Howard Fu, Chief Financial Officer

Adoption

November 15, 2024

x

29,450(4)

February 14, 2026

Craig F. Courtemanche, Jr., President, Chief Executive Officer, and Director

Adoption(5)

December 11, 2024

x

2,065,008(6)

April 1, 2026

(1) Contract, instruction, or written plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act.

(2) “Non-Rule 10b5-1 trading arrangement” as defined in Item 408(c) of Regulation S-K under the Exchange Act.

(3) Represents the maximum number of shares that may be sold pursuant to the Rule 10b5-1 trading arrangement. The number of shares actually sold may be lower and will depend on the satisfaction of certain conditions as set forth in the written plan.

(4) The actual number of shares that will be sold under this Rule 10b5-1 trading arrangement will be based in part on the number of shares, if any, sold to satisfy tax withholding obligations arising from the vesting of certain shares subject to the trading arrangement, which number is not yet determinable.

(5) This Rule 10b5-1 trading arrangement was adopted by the Craig F. Courtemanche and Hillary Courtemanche Family Trust dtd 11/1/2012, The Courtemanche 2016 Irrevocable Trust UA dtd 11/18/2016, and the Courtemanche 2021 Irrevocable Trust UA dtd 6/10/2021.

(6) The actual number of shares that will be sold under this Rule 10b5-1 trading arrangement is subject to minimum threshold prices as set forth in the trading arrangement.

Non-Rule 10b5-1 Arrangement Adopted

false

Rule 10b5-1 Arrangement Terminated

false

Non-Rule 10b5-1 Arrangement Terminated

false

Kevin J. O'Connor [Member]

Trading Arrangements, by Individual

Name

Kevin J. O’Connor

Title

Director

Rule 10b5-1 Arrangement Adopted

true

November 21, 2024

April 16, 2026

473 days

250,000

Trading Arrangements, by Individual

Name

Howard Fu

Title

Chief Financial Officer

Rule 10b5-1 Arrangement Adopted

true

November 15, 2024

February 14, 2026

456 days

29,450

Craig F. Courtemanche, Jr. [Member]

Trading Arrangements, by Individual

Name

Craig F. Courtemanche, Jr.

Title

President, Chief Executive Officer, and Director

Rule 10b5-1 Arrangement Adopted

true

December 11, 2024

April 1, 2026

476 days

2,065,008

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
Cybersecurity Risk Management and Strategy Disclosure	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	We maintain an information security program designed to identify, assess, and manage material risks arising from cybersecurity threats to our critical networks, third-party hosted services, communications systems, hardware, software, and data, including intellectual property and confidential, proprietary, or sensitive information, such as customer data. Our President, Product and Technology (“President of P&T”), Chief Data Officer (“CDO”), the senior-most employee responsible for cybersecurity management, and other members of our cybersecurity and audit teams, help identify, assess, and manage cybersecurity threats and risks that may affect our business and operations. To help us in assessing these threats, we use various methods, including, as applicable, using a combination of manual and automated tools, subscribing to threat reports and external intelligence feeds, conducting vulnerability assessments and penetration tests, collaborating with law enforcement, and operating a bug bounty program. Depending on the environment, systems, and data, we employ various technical, physical, and organizational measures designed to mitigate material cybersecurity risks, including an incident response plan, incident detection and response processes, a vulnerability management program, disaster recovery/business continuity plans, risk assessments, data encryption, network and access controls, a vendor risk management program, physical security, employee training, cybersecurity insurance, and dedicated cybersecurity staff. In maintaining these measures, we consider certain principles from recognized frameworks, such as those published by the Committee of Sponsoring Organizations of the Treadway Commission, the International Organization for Standardization, and other applicable industry standards. Our approach to addressing cybersecurity risk is cross-functional and is designed to preserve the confidentiality, integrity, and availability of data by identifying, preventing, and mitigating cybersecurity incidents. From time to time, we engage third-party service providers, including professional services firms, threat intelligence services, cybersecurity consultants, penetration testing firms, and forensic investigators, to assist with identifying, assessing, and managing cybersecurity risks. We also rely on data-hosting companies and other third parties for certain business operations. We mitigate the associated cybersecurity risks through a third-party risk management program, which may include vendor risk assessments, security questionnaires, reviews of vendor security programs, and contractual obligations for vendors to maintain specific security measures. For a description of the risks from cybersecurity threats that may materially affect us and how they may do so, see our risk factors under the heading “Risk Factors” in Part I of this Annual Report on Form 10-K, including the risk factor titled “If our IT systems or data, or those of third parties with which we work, are or were compromised, we could experience adverse consequences resulting from such compromise, including, but not limited to, regulatory investigations or actions, litigation, fines and penalties, disruptions of our business operations, reputational harm, loss of revenue or profits, loss of customers or sales, and other adverse consequences, any of which could materially adversely affect our business, financial condition, results of operations, and prospects.”
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	In maintaining these measures, we consider certain principles from recognized frameworks, such as those published by the Committee of Sponsoring Organizations of the Treadway Commission, the International Organization for Standardization, and other applicable industry standards. Our approach to addressing cybersecurity risk is cross-functional and is designed to preserve the confidentiality, integrity, and availability of data by identifying, preventing, and mitigating cybersecurity incidents.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	Our Board oversees our enterprise risk management program, including cybersecurity risk. The audit committee of our Board (the “Audit Committee”) is responsible for oversight of our cybersecurity risk management processes, and a cross-functional cybersecurity committee (the “Cybersecurity Committee”), which is comprised of members of our management team, reports to the Audit Committee.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	Our Board oversees our enterprise risk management program, including cybersecurity risk.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Audit Committee and the Cybersecurity Committee receive periodic reports, summaries, and presentations from management regarding our significant cybersecurity risks and threats, incidents, and response initiatives. Through our cybersecurity governance practices, we strive to achieve a strong cybersecurity posture and to refine our security measures to respond to emerging threats.
Cybersecurity Risk Role of Management [Text Block]	Our cybersecurity risk assessment and management processes are implemented and maintained by certain members of our management team, including our President of P&T, CDO, and the senior-most employee responsible for cybersecurity management. Our President of P&T has over 25 years of experience in senior executive roles that involved ownership of, and accountability for, cybersecurity matters, including Chief Information Officer, Chief Technology Officer, and Senior Vice President / General Manager. Our CDO has over 15 years of experience in IT and previously served as the Chief Information and Digital Experience Officer for a home automation company. Prior to that, she held various leadership roles at a computer software company. Members of our management team, including our President of P&T, CDO, and the senior-most employee responsible for cybersecurity management, lead our cybersecurity assessment and management processes. Their responsibilities include hiring appropriate personnel, approving budgets, integrating cybersecurity considerations into our risk management strategy, overseeing security-related reports, communicating key priorities, and helping prepare for cybersecurity incidents. We conduct periodic training to keep personnel informed of cybersecurity threats and to communicate evolving information security policies, standards, processes, and practices. Our cybersecurity incident response and vulnerability management processes are designed to escalate significant cybersecurity incidents to members of management, including to our President of P&T, CDO, the senior-most employee responsible for cybersecurity management, and the Cybersecurity Committee. Our President of P&T, CDO, the senior-most employee responsible for cybersecurity management, and the Cybersecurity Committee work with our incident response team to mitigate and remediate potential issues. These processes include reporting significant cybersecurity threats, risks, and mitigation activities to the Audit Committee and/or the Cybersecurity Committee, as appropriate.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	Our cybersecurity risk assessment and management processes are implemented and maintained by certain members of our management team, including our President of P&T, CDO, and the senior-most employee responsible for cybersecurity management.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Our President of P&T has over 25 years of experience in senior executive roles that involved ownership of, and accountability for, cybersecurity matters, including Chief Information Officer, Chief Technology Officer, and Senior Vice President / General Manager. Our CDO has over 15 years of experience in IT and previously served as the Chief Information and Digital Experience Officer for a home automation company. Prior to that, she held various leadership roles at a computer software company.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	Our cybersecurity incident response and vulnerability management processes are designed to escalate significant cybersecurity incidents to members of management, including to our President of P&T, CDO, the senior-most employee responsible for cybersecurity management, and the Cybersecurity Committee. Our President of P&T, CDO, the senior-most employee responsible for cybersecurity management, and the Cybersecurity Committee work with our incident response team to mitigate and remediate potential issues. These processes include reporting significant cybersecurity threats, risks, and mitigation activities to the Audit Committee and/or the Cybersecurity Committee, as appropriate.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Basis of presentation

The accompanying consolidated financial statements include the financial statements of Procore Technologies, Inc. and its subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”). Certain balances have been reclassified to conform to current year presentation.

Use of estimates

The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Management periodically evaluates its estimates and assumptions for continued reasonableness, primarily with respect to revenue recognition, the period of benefit of contract cost assets, the fair value of assets acquired and liabilities assumed in a business combination or asset acquisition, stock-based compensation expense, the recoverability of goodwill and long-lived assets, useful lives of long-lived assets, capitalization of software development costs, income taxes, including related reserves and allowances, provision for credit losses, incremental borrowing rates and estimation of lease terms applied in lease accounting, and self-insurance reserve estimates. Appropriate adjustments, if any, to the estimates used are made prospectively based upon such periodic evaluation. Management bases its estimates on historical experience and on various other assumptions that management believes to be reasonable. Actual results could differ from the Company’s estimates.

Segments

The Company operates as a single operating segment. Operating segments are defined as components of an enterprise for which separate financial information is evaluated regularly by the chief operating decision maker (“CODM”), in deciding how to allocate resources and assess performance. The Company’s CODM is its Chief Executive Officer (“CEO”). In recent years, the Company has completed a number of acquisitions which have allowed it to expand its platform capabilities and related products and services.

The Company generates substantially all of its revenue from subscriptions for access to its software products and related support. While the Company provides different products and services, including as a result of its acquisitions, its business operates as one operating segment because its CODM evaluates the Company’s revenue, expenses and assets as reported on the consolidated income statement and balance sheet for purposes of assessing financial performance and allocating resources on a consolidated basis. The CODM uses consolidated revenue, expenses, and assets in deciding whether to invest into various parts of the Company, such as managing budget and acquisitions.

Concentrations of credit risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash, cash equivalents, restricted cash, investments in marketable securities, accounts receivable, and materials financing receivables.

The Company maintains its cash, cash equivalents, and restricted cash balances with major financial institutions that may at times exceed federally insured limits. However, the Company believes that these financial institutions are financially sound with minimal credit risk. During the years ended December 31, 2024 and 2023, there were no credit losses recorded on cash, cash equivalents, or restricted cash.

Investments in marketable securities consist primarily of investment-grade securities and the Company’s investment policy limits the amount of credit exposure to any individual issuer. The Company periodically assesses its portfolio of marketable securities for impairment due to credit losses. The Company evaluates each investment in an unrealized loss position to determine if any portion of the unrealized loss is related to credit losses. In determining whether a credit loss may exist, the Company considers the extent of the unrealized loss position, any adverse conditions specifically related to the security or the issuer’s operating environment, the pay structure of the security, the issuer’s payment history, and any changes in the issuer’s credit rating. Unrealized losses on marketable securities due to expected credit losses are recognized in other expense, net in the accompanying consolidated statements of operations and comprehensive loss. During the years ended December 31, 2024 and 2023, there were no credit losses recorded on marketable securities.

Accounts receivable are recorded at the invoiced amounts, do not require collateral or bear interest, and mainly result from subscriptions to access the Company’s software products. The Company regularly assesses the need for allowances for expected losses from these accounts receivable. Each reporting period, the Company evaluates the collectability of its accounts receivable based on a number of factors such as the age of the receivables, credit quality, historical experience, and current and future economic conditions that may affect a customer’s ability to pay. As of December 31, 2024 and 2023, the Company's allowance for expected credit losses was $6.1 million and $4.8 million, respectively. No customer represented 10% or more of the consolidated accounts receivable balance as of December 31, 2024 and 2023. No single customer accounted for 10% or more of total revenue for the years ended December 31, 2024, 2023, and 2022.

The Company also had receivables related to its materials financing program that financed customers’ purchases of construction materials on deferred payment terms. The related allowance recorded on the Company’s materials financing receivables was primarily based on expectations of credit losses based on a number of factors, such as the age of the receivables, historical loss data, and macroeconomic conditions that may affect a customer’s ability to pay. The Company ceased originations under its materials financing program in October 2023.

Cash, cash equivalents and restricted cash

Cash, cash equivalents, and restricted cash

The Company classifies all investments that are readily convertible to known amounts of cash and have maturities of three months or less from the date of purchase as cash equivalents, which are carried at fair value. Cash includes cash held in checking and savings accounts. As of December 31, 2024 and 2023, cash equivalents comprised money market funds that were recorded at fair value which approximates amortized cost.

From time to time, the Company may post cash collateral to satisfy certain contractual arrangements that arise in the normal course of business and that is contractually restricted as to use. The Company held no restricted cash as of December 31, 2024 or 2023.

Marketable securities

Investments with stated maturities of greater than three months are classified as marketable securities, which consist of United States (“U.S.”) treasury securities, commercial paper, corporate notes and obligations, and time deposits. All marketable securities held as of December 31, 2024 and 2023 are classified as available-for-sale debt securities, which are recorded at fair value. The Company's marketable securities are classified as either short-term or long-term in the accompanying consolidated balance sheets based on the security's

contractual maturity at the balance sheet date. The Company re-evaluates such classification at each balance sheet date.

Any unrealized gains and losses, net of tax, that are not due to expected credit losses are included in accumulated other comprehensive loss, a component of stockholders’ equity in the accompanying consolidated financial statements. Interest recorded on marketable securities is recorded in interest income, with accretion of discounts, net of amortization of premiums, recorded in accretion income, net, on the accompanying consolidated statements of operations and comprehensive loss. Refer to Note 3 for further details on the Company’s marketable securities portfolio.

Foreign currency transactions and translation

The functional currency of the Company’s foreign subsidiaries in Australia, Canada, and England is the local currency of such countries, and the functional currency of the Company’s subsidiaries in Mexico, Egypt, Singapore, United Arab Emirates, France, Ireland, Germany, India, Czech Republic, and Costa Rica is U.S. Dollars. For foreign subsidiaries where the functional currency is the local currency of such countries, assets and liabilities are translated into U.S. Dollars at exchange rates in effect at the balance sheet date, stockholders’ equity is translated at the applicable historical exchange rate, and revenue and expenses are translated using the average exchange rates during the period. The effect of exchange rate changes resulting from the translation of the foreign subsidiary financial statements is accounted for as a component of accumulated other comprehensive loss.

In addition, the Company incurs foreign currency transaction gains and losses, including those related to intercompany agreements among the Company and its subsidiaries, which are recorded in other expense, net in the accompanying consolidated statements of operations and comprehensive loss. Foreign currency gains and losses were not material for the years ended December 31, 2024, 2023, and 2022.

Property and equipment, net

Property and equipment are stated at cost less accumulated depreciation. Expenditures for repairs and maintenance are expensed as incurred, while renewals and betterments are capitalized. Depreciation expense is computed on a straight-line basis over the estimated lives of the assets as follows:


Asset Classification			Estimated Useful Life
Leasehold improvements			Lesser of 15 years or lease term
Building improvements			Lesser of 20 years or lease term
Furniture and fixtures			5 years
Computers and equipment			3 years
Purchased software			Contractual term

Leases

The Company determines an arrangement is a lease at inception if it is both able to identify an asset and conclude it has the right to control the identified asset. Leases are classified as finance or operating based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is comprised of amortization of the right of use (“ROU”) asset and interest expense recognized based on an effective interest method for finance leases, or as a single lease cost recognized on a straight-line basis over the term of the lease for operating leases. Leases are included in ROU assets, other current liabilities, and long-term finance and operating lease liabilities within the accompanying consolidated balance sheets. Leases with expected terms of 12 months or less are not recorded on the accompanying consolidated balance sheets. Certain leases contain provisions that allow the Company to be reimbursed by the landlord for specified tenant improvements that are subject to final approval prior to being paid. The Company estimates the likelihood that it will incur and be reimbursed for such costs at the commencement of the lease and reduce the ROU liability for the discounted future cash receipt, with a corresponding offset to the ROU asset.

ROU assets represent the Company’s right to control an underlying asset for the lease term, and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at the commencement date of the lease based on the present value of lease payments over the expected lease term. The Company’s leases do not provide an implicit rate, therefore the Company uses its incremental borrowing rate based on the information available at the lease commencement date in determining the discount rate used to calculate the present value of minimum lease payments. The incremental borrowing rate used is estimated based on what the Company would be required to pay for a collateralized loan over a similar term. The Company’s leases do not include any residual value guarantees, bargain purchase options, or asset retirement obligations.

The Company has lease agreements with lease and non-lease components, which are accounted for as a single lease component. The Company’s agreements may contain variable lease payments. The Company includes variable lease payments that depend on an index or a rate in the calculation of the ROU lease liabilities and exclude those which depend on facts or circumstances occurring after the commencement date, other than the passage of time.

Self-insurance reserves

The Company has elected to partially self-fund its health insurance plan. To reduce its risk related to high-dollar claims, the Company maintains individual stop-loss insurance. The Company estimates its exposure for claims incurred at the end of each reporting period, including claims not yet reported, with the assistance of an independent third-party actuary. As of December 31, 2024 and 2023, the Company’s self-insurance accrual was $2.7 million and $3.3 million, respectively, included within other current liabilities on the accompanying consolidated balance sheets.

Strategic investments

Investments in equity securities

The Company holds investments in equity securities of certain privately held companies, which do not have readily determinable fair values. The Company does not have a controlling interest or significant influence in these companies. The Company has elected to measure the non-marketable equity securities at cost, with remeasurements to fair value only upon the occurrence of observable price changes in orderly transactions for the identical or similar securities of the same issuer, or in the event of any impairment. This election is reassessed each reporting period to determine whether a non-marketable equity security has a readily determinable fair value, in which case the security would no longer be eligible for this election. All gains and losses on such equity securities, realized and unrealized, are recorded in other expense, net on the accompanying consolidated statements of operations and comprehensive loss. The Company evaluates its non-marketable equity securities for impairment at each reporting period based on a qualitative assessment that considers various potential impairment indicators. If an impairment exists, a loss is recognized in the accompanying consolidated statements of operations and comprehensive loss for the amount by which the carrying value exceeds the fair value of the investment.

Investments in limited partnership funds

The Company also holds investments in certain limited partnership funds. The Company does not hold a controlling interest or significant influence in these limited partnerships. The fair value of such investments is valued using the Net Asset Value (“NAV”) provided by the fund administrator as a practical expedient.

Available-for-sale debt securities

The Company may hold investments in debt securities of privately held companies, which are classified as available-for-sale debt securities. Such available-for-sale debt securities are recorded at fair value with changes in fair value recorded in other comprehensive income or loss. The Company periodically reviews its available-for-sale debt securities to determine if there has been an other-than-temporary decline in fair value. If the impairment is deemed other-than-temporary, the portion of the impairment related to credit losses is recognized in other expense, net in the accompanying consolidated statements of operations and comprehensive loss, and the portion related to non-credit related losses is recognized as a component of comprehensive loss.

Business combinations

The Company assesses whether an acquisition is a business combination or an asset acquisition. If substantially all of the gross assets acquired are concentrated in a single asset or group of similar assets, then the acquisition is accounted for as an asset acquisition, where the purchase consideration is allocated on a relative fair value basis to the assets acquired. Goodwill is not recorded in an asset acquisition. If the gross assets are not concentrated in a single asset or group of similar assets, then the Company determines if the set of assets acquired represents a business. A business is an integrated set of activities and assets capable of being conducted and managed for the purpose of providing a return. Depending on the nature of the acquisition, judgment may be required to determine if the set of assets acquired is a business combination or not.

The Company applies the acquisition method of accounting for a business combination. Under this method of accounting, assets acquired and liabilities assumed are recorded at their respective fair values at the date of the acquisition. Any excess of the purchase price over the fair value of the net assets acquired is recognized as goodwill. During the measurement period, which may be up to one year from the acquisition date, the Company adjusts the provisional amounts of assets acquired and liabilities assumed with the corresponding offset to goodwill to reflect new information obtained about facts and circumstances that existed as of the acquisition date that, if known, would have affected the measurement of the amounts recognized as of that date. Upon the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded within the Company’s consolidated statements of operations and comprehensive loss.

Determining the fair value of assets acquired and liabilities assumed requires management’s judgment and often involves the use of significant estimates and assumptions, including assumptions with respect to estimated level of effort and related costs of reproducing or replacing the assets acquired, future cash inflows and outflows, and discount rates, among other items. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Market participants are assumed to be buyers and sellers in the principal (most advantageous) market for the asset or liability. Additionally, fair value measurements for an asset assume the highest and best use of that asset by market participants. As a result, the Company may be required to value the acquired assets at fair value measures that do not reflect its intended use of those assets. Use of different estimates and judgments could yield different results.

Although the Company believes the assumptions and estimates it has made are reasonable and appropriate, they are based in part on historical experience and information that may be obtained from management of the acquired company and are inherently uncertain.

Intangible assets and goodwill

All of the Company’s finite-lived intangible assets are amortized using the straight-line method over their estimated period of benefit, ranging from three to 10 years. The Company evaluates the recoverability of its finite-lived intangible assets periodically by considering events or changes in circumstances that may warrant revised estimates of useful lives or that indicate the asset may be impaired.

The Company has an in-process research and development (“IPR&D”) intangible asset, which is considered indefinite-lived and is assessed annually for impairment. Upon completion of the project, the IPR&D intangible asset will be considered a finite-lived intangible asset and amortized over its estimated useful life. If the project were to be abandoned, the IPR&D would be considered fully impaired and recognized in research and development expenses within the accompanying consolidated statements of operations and comprehensive loss.

Goodwill is tested for impairment at the reporting unit level (i.e., the operating segment or one level below an operating segment). The Company has one reporting unit and tests goodwill impairment on an annual basis during the fourth quarter of the Company’s fiscal year, and between annual tests if an event occurs or circumstances change that indicate that goodwill may be impaired. In assessing impairment, the Company has the option to first assess qualitative factors to determine whether or not a reporting unit is more likely than not

impaired. Alternatively, the Company may perform a quantitative impairment assessment or if the qualitative assessment indicates that it is more likely than not that the reporting unit’s fair value is less than its carrying amount, a quantitative analysis is required. The quantitative analysis compares the estimated fair value of the reporting unit with its respective carrying amount, including goodwill. If the estimated fair value of the reporting unit exceeds its carrying amount, including goodwill, goodwill is considered not to be impaired. If the fair value is less than the carrying amount, including goodwill, then a goodwill impairment charge is recorded by the amount that the carrying value exceeds the fair value, up to the carrying amount of goodwill.

Capitalized software development costs and Cloud computing arrangements

Capitalized software development costs

The Company capitalizes certain development costs incurred in connection with the development of internal-use software. Costs incurred in the preliminary stages of development are expensed as incurred. Once the preliminary stage is complete, internal and external direct costs are capitalized until the developed software is substantially complete and ready for its intended use. Costs incurred for post-implementation activities, training, maintenance, and minor upgrades and enhancements without adding additional functionality are expensed as incurred. Capitalized internal-use software costs primarily relate to the development of and major enhancements to the Company’s cloud-based software as a service (“SaaS”) construction management platform and related software products. Capitalized software development costs related to the Company’s platform are amortized on a straight-line basis over the developed software’s estimated useful life of two years and the related amortization expense is recorded in cost of revenue within the accompanying consolidated statements of operations and comprehensive loss.

The Company also capitalizes certain software development costs which are used internally, rather than developments to the Company’s platform. Such costs are amortized on a straight-line basis over the developed software’s estimated useful life, which is generally three to five years, and the related amortization expense is recorded in operating expenses within the accompanying consolidated statements of operations and comprehensive loss. Abandonments of software development costs have been immaterial in all periods presented.

Cloud computing arrangements

The Company capitalizes qualifying implementation costs related to hosting arrangements that are service contracts (cloud computing arrangements). Such costs are amortized on a straight-line basis over the software’s estimated useful life, which is generally the term of the hosting relationship, and ranges from three to five years. The related amortization expense is recorded in operating expenses within the accompanying consolidated statements of operations and comprehensive loss. As of December 31, 2024 and 2023, the Company’s gross capitalized costs were $11.5 million and $10.3 million, respectively, and the related accumulated amortization was $4.8 million and $2.9 million, respectively. Capitalized amounts are included in prepaid expenses and other current assets and other assets on the accompanying consolidated balance sheets.

Fair value measurements

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. Fair value measurements are based on a fair value hierarchy using three levels of inputs, of which the first two are considered observable and the last is considered unobservable, as follows:

Level 1 Quoted prices in active markets for identical assets or liabilities.

Level 2 Quoted prices for identical or similar assets and liabilities in markets that are not active or observable inputs other than quoted prices in active markets for identical or similar assets or liabilities.

Level 3 Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

As of December 31, 2024 and 2023, the carrying value of the Company’s financial instruments included in current assets and current liabilities (including accounts receivable, accounts payable, and accrued expenses) approximate fair value due to the short-term nature of such items. The Company measures its cash held in money market funds, marketable securities, and investments in available-for-sale debt securities at fair value each reporting period. The estimation of fair value for available-for-sale debt securities in private companies requires the use of significant unobservable inputs, and as a result, the Company classifies these assets as Level 3 within the fair value hierarchy.

The Company’s investments in equity securities of privately held companies are recorded at fair value on a non-recurring basis. For investments without a readily determinable fair value, the Company looks to observable transactions, such as the issuance of new equity by an investee, as indicators of investee enterprise value and uses them to estimate the fair value of the investments. The Company’s investments in limited partnerships are valued using NAV as a practical expedient and therefore excluded from the fair value hierarchy.

Impairment and abandonment of long-lived assets

mpairment and abandonment of long-lived assets

The Company evaluates long-lived assets, including finite-lived intangible assets, property and equipment, leases, capitalized software development costs, and cloud computing arrangements, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. Impairment testing is performed at an asset level that represents the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities, or an asset group. Recoverability of asset groups to be held and used is measured by comparison of the carrying value of the asset group to the estimated undiscounted future cash flows expected to be generated from the use of such assets. If the undiscounted future cash flows are less than the carrying value of the asset group, an impairment is recognized based on the amount by which the carrying value exceeds the estimated fair value of the asset group. Assets to be abandoned with no remaining future service potential are written down to amounts expected to be recovered.

Materials financing revenues and receivables

In connection with its acquisition of Express Lien, Inc. (d/b/a Levelset) (“Levelset”), in November 2021, the Company assumed a materials financing program to help facilitate the purchase of construction materials from fulfillment partners (the Company’s suppliers) on behalf of its customers, allowing such customers to finance their materials purchases from the Company on deferred payment terms. Prior to the Company ceasing originations under its materials financing program in October 2023, the fulfillment partner was primarily responsible for fulfilling the materials purchases and the Company did not have control over such materials. The Company earned revenues from origination fees and finance charges on the amounts it financed for customers on deferred payment terms, which were typically 120 days. Such fees earned were computed and recognized based on the effective interest method and are presented net of any related reserves and amortization of deferred origination costs. During the year ended December 31, 2024, credit losses incurred in connection with the Company's materials financing program were immaterial. During the year ended December 31, 2023, the Company incurred credit losses of $8.1 million in connection with its materials financing program, which are recorded in general and administrative expenses in the accompanying consolidated statements of operations and comprehensive loss.

As of December 31, 2024, there were no gross receivables outstanding from customers or allowance for credit losses related to the materials financing program. As of December 31, 2023, gross receivables under the materials financing program were $5.7 million, and the related allowance for expected credit losses was $3.8 million. Materials financing receivables, net of allowances, are recorded within prepaid expenses and other current assets on the accompanying consolidated balance sheets.

Revenue recognition

The Company generates substantially all of its revenue from subscriptions for access to its software products and related support. The software products are hosted on its cloud-based SaaS construction management platform. Subscriptions are sold for a fixed fee and revenue is recognized ratably over the term of

the subscription. The Company’s subscription agreements generally have annual or multi-year terms, are typically subject to renewal at the end of the subscription term, are generally non-cancelable, and do not provide for refunds to customers or any other right of return. The Company generally invoices its customers at the beginning of each annual subscription period, and to a lesser extent, on a semi-annual or quarterly basis. To the extent the Company invoices its customers in advance of revenue recognition, it records deferred revenue. Consequently, a portion of the revenue that is reported each period is attributable to the recognition of revenue previously deferred and related to subscriptions that the Company entered into during previous periods. Subscription fees are generally due and payable upon receipt of invoice by the Company’s customers or within 30 days of the stated billing date. The Company does not provide the customer with the right to take possession of its software products at any time.

The Company determines revenue recognition through the following steps:

•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; and

•recognition of revenue when, or as, the Company satisfies a performance obligation.

The Company executes a signed contract with the customer that specifies services to be provided, the payment amounts and terms, and the period of service, among other terms.

The Company’s contracts with customers often include promises to perform multiple services. Determining whether services are considered distinct performance obligations that should be accounted for separately or together may require judgment. The contracts with customers include access to the Company’s products and support over the subscription period. Access to software products and support represents a series of distinct services as the Company fulfills its obligation to the customer and the customer receives and consumes the benefits of the software products and support over the subscription term. The series of distinct services represents a single performance obligation.

The transaction price is determined by the stated fixed fees in the contract, excluding any related sales tax. None of the Company’s contracts include a significant financing component.

The Company recognizes revenue ratably over the term of the subscription agreement beginning on the date that access to its products is made available to the customer.

Deferred revenue

Contract liabilities consist of revenue that is deferred when the Company has the contractual right to invoice in advance of transferring services to its customers. Substantially all deferred revenue at the beginning of 2024, 2023, and 2022 was recognized as revenue within the following 12-month period.

Remaining performance obligation

Remaining performance obligations

The transaction price allocated to remaining performance obligations (“RPO”) represents the contracted transaction price that has not yet been recognized as revenue, which includes deferred revenue and amounts under non-cancelable contracts that will be invoiced and recognized as revenue in future periods. The Company’s current RPO represents future revenue under existing contracts that is expected to be recognized as revenue in the next 12 months. As of December 31, 2024, the aggregate amount of the transaction price allocated to RPO was $1.3 billion, of which the Company expects to recognize approximately $829.7 million, or 64%, as revenue in the next 12 months and substantially all of the remaining $456.8 million between 12 and 36 months thereafter.

Assets recognized from the costs to obtain a contract with a customer

The Company recognizes an asset for the incremental and recoverable costs of obtaining a contract with a customer if the Company expects the benefit of those costs to be one year or longer. The Company elected the practical expedient that allows an entity to expense incremental contract costs as incurred if the amortization period of the assets would have otherwise been recognized in one year or less. The Company has determined that sales commissions paid for new contracts, including certain incremental sales to existing customers, meet the requirements to be capitalized as contract acquisition costs. The contract cost assets are deferred and then recognized in sales and marketing expense on a straight-line basis over the expected period of benefit, which the Company has determined to be four years. Sales commissions and bonuses for renewal contracts are not considered commensurate with sales commissions for new contracts, and therefore, the expected period of benefit for costs capitalized for initial contracts extends beyond the term of the initial contract. Judgment is required to determine the expected period of benefit, for which the Company considers estimates of customer lives and SaaS product technology life in making this determination. Write-offs of such costs have historically been immaterial.

Cost of revenue

Cost of revenue primarily consists of personnel-related compensation expenses for the Company’s customer support team, including salaries, benefits, stock-based compensation, payroll taxes, commissions, and bonuses. Additionally, cost of revenue includes non-personnel-related expenses, such as third-party hosting costs, amortization of acquired technology intangible assets, amortization of capitalized software development costs related to the Company’s platform, software license fees, and allocated overhead.

Operating expenses

The Company’s operating expenses consist of sales and marketing, research and development, and general and administrative expenses. For each of these categories of expense, personnel-related compensation expenses are the most significant component, which include salaries, stock-based compensation, commissions, benefits, payroll taxes, and bonuses.

Sales and marketing

Sales and marketing expenses primarily consist of personnel-related compensation expenses for the Company’s sales and marketing organizations. Additionally, sales and marketing expenses include non-personnel-related expenses, such as advertising costs, marketing events, travel, trade shows, and other marketing activities; amortization of acquired customer relationship intangible assets; contractor costs to supplement the Company’s staff levels; consulting services; and allocated overhead. Advertising costs are expensed as incurred. During the years ended December 31, 2024, 2023, and 2022, the Company incurred advertising costs of $61.8 million, $43.1 million, and $37.2 million, respectively.

Research and development

Research and development expenses primarily consist of personnel-related compensation expenses for the Company’s engineering, product, and design teams. Additionally, research and development expenses include non-personnel-related expenses, such as contractor costs to supplement the Company’s staff levels,

consulting services, amortization of certain acquired intangible assets used in research and development activities, and allocated overhead.

General and administrative

General and administrative expenses primarily consist of personnel-related compensation expenses for the Company’s information technology, human resources, finance, legal, executive, and other administrative functions. Additionally, general and administrative expenses include non-personnel-related expenses, such as professional fees for audit, legal, tax, and other external consulting services, including acquisition-related transaction expenses; costs associated with operating as a public company, including insurance costs, professional services, investor relations, and other compliance costs; property and use taxes; licenses, travel and entertainment costs; and allocated overhead.

Stock-based compensation

The Company recognizes stock-based compensation cost equal to the grant date fair value of stock-based awards. Stock-based awards include stock options, restricted stock units ("RSUs"), employee stock purchase plan (“ESPP”), performance-based restricted stock units (“PSUs”), and restricted stock awards (“RSAs”).

The fair value of RSUs, PSUs, and RSAs is based on the estimated fair value of the Company’s common stock on the grant date. The fair value of stock options and ESPP purchase rights is estimated on the grant date using the Black-Scholes option pricing model. For awards that vest solely based on continued service, the grant date fair value is recognized as compensation expense on a straight-line basis over the requisite service period of the awards, which is generally four years. For awards that contain both performance and service vesting conditions, the grant date fair value is recognized as compensation expense using a graded vesting attribution model. No expense is recognized for awards with performance conditions until that condition is probable of being met, therefore the portion of expense recognized in any period may fluctuate depending on changing estimates of the achievement of the performance conditions. Forfeitures are recorded when they occur.

Income taxes

The Company accounts for income taxes for the anticipated tax consequences of the reported results of operations using the asset and liability method. Under this method, deferred income tax assets and liabilities are determined based on the differences between the carrying amounts for financial reporting purposes and the tax bases of assets and liabilities. Deferred income tax assets and liabilities are measured using enacted tax rates anticipated to be in effect when those tax assets and liabilities are expected to be realized or settled. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in the accompanying consolidated statements of operations and comprehensive loss in the period that includes the enactment date.

A valuation allowance is established if, based upon the available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The Company considers all available evidence, both positive and negative, including historical levels of income, expectations and risk associated with estimates of future taxable income in assessing the need for a valuation allowance. Significant judgment is required in determining the provision for income taxes and deferred tax assets and liabilities.

The Company recognizes a tax benefit from an uncertain position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on its technical merits. If this threshold is met, the Company measures the tax benefit as the largest amount of the benefit that is greater than 50% likely of being realized upon ultimate settlement.

The Company recognizes penalties and interest accrued with respect to uncertain tax positions, if any, in the provision for income taxes in the accompanying consolidated statements of operations and comprehensive loss. Accrued penalties and interest related to uncertain tax positions were not material to any period presented.

Recently adopted accounting pronouncements, Recently issued accounting pronouncements - not yet adopted

Recently adopted accounting pronouncements

Improvements to Reportable Segment Disclosures

In November 2023, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2023-07, Segment Reporting (Topic 280) – Improvements to Reportable Segment Disclosures (“ASU 2023-07”). The new amendment expands reportable segment disclosure requirements through enhanced disclosures about significant segment expenses by requiring disclosure of incremental segment information on an annual and interim basis to enable investors to develop more decision-useful financial analysis. ASU 2023-07 is effective for public business entities for fiscal years beginning after December 31, 2023 and for interim periods within fiscal years beginning after December 31, 2024, with early adoption permitted. Upon adoption, public entities should apply the amendment retrospectively to all periods presented in the financial statements. The Company adopted the guidance for the fiscal year beginning January 1, 2024, and will implement the interim disclosure requirements in fiscal year 2025. There was no impact on the Company’s consolidated financial statements upon adoption.

Recently issued accounting pronouncements - not yet adopted

Disaggregation of Income Statement Expenses

In November 2024, the FASB issued ASU No. 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40) – Disaggregation of Income Statement Expenses (“ASU 2024-03”). The new amendment expands financial reporting by requiring that public entities disclose additional information about certain expense categories in tabular form in the notes to financial statements at interim and annual reporting periods. ASU 2024-03 is effective for public business entities for fiscal years beginning after December 15, 2026 and for interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted. Upon adoption, public entities should apply the amendment either (1) prospectively to financial statements issued for reporting periods after the effective date or (2) retrospectively to all periods presented in the financial statements. The Company is evaluating the impact of the adoption of ASU 2024-03 on its consolidated financial statements and disclosures.

Improvements to Income Tax Disclosure

In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740) – Improvements to Income Tax Disclosures (“ASU 2023-09”). The new amendment enhances transparency and usefulness of income tax disclosures by expanding disclosures in an entity’s income tax rate reconciliation table and income taxes paid. ASU 2023-09 is effective for public business entities for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is evaluating the impact of the adoption of ASU 2023-09 on its consolidated financial statements and disclosures.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Schedule of Estimated Useful Lives of Property Plant and Equipment

Depreciation expense is computed on a straight-line basis over the estimated lives of the assets as follows:


Asset Classification			Estimated Useful Life
Leasehold improvements			Lesser of 15 years or lease term
Building improvements			Lesser of 20 years or lease term
Furniture and fixtures			5 years
Computers and equipment			3 years
Purchased software			Contractual term

Summary of Changes in Contract Cost Assets

The following table presents the changes in contract cost assets (in thousands):


	Year Ended December 31,
	2024		2023		2022
Beginning balance	$	73,282	$	64,077	$	42,919
Additions	39,699		37,243		41,750
Amortization	(31,554)		(28,038)		(20,592)
Ending balance	$	81,427	$	73,282	$	64,077

INVESTMENTS (Tables)

12 Months Ended

Dec. 31, 2024

Investments, Debt and Equity Securities [Abstract]

Schedule of Marketable Securities

Marketable securities consisted of the following as of December 31, 2024 (in thousands):


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
U.S. treasury securities	$	126,916	$	142	$	(13)	$	127,045
Commercial paper	18,414		19		—		18,433
Corporate notes and obligations	237,965		339		(67)		238,237
Total marketable securities	$	383,295	$	500	$	(80)	$	383,715

Marketable securities consisted of the following as of December 31, 2023 (in thousands):


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
U.S. treasury securities	$	128,479	124		$	(27)	$	128,576
Commercial paper	47,415		1		(35)		47,381
Corporate notes and obligations	139,747		61		(128)		139,680
Time deposits	4,525		—		(1)		4,524
Total marketable securities	$	320,166	$	186	$	(191)	$	320,161

Schedule of Investments Classified by Contractual Maturity Date

The following table summarizes the estimated fair value of investments classified as marketable securities by contractual maturity date (in thousands):


	December 31,
	2024		2023
Due within 1 year	$	337,673	$	320,161
Due in 1 to 2 years	46,042		—
Total marketable securities	$	383,715	$	320,161

Schedule of Strategic Investments Activity

Strategic investment activity during the year ended December 31, 2024 is summarized as follows (in thousands):


	Equity Securities		Limited Partnerships		Available-for-Sale Debt Securities		Total
Balance as of December 31, 2023	$	7,179	$	3,986	$	362	$	11,527
Interest accrued	—		—		6		6
Purchases of strategic investments	498		1,869		—		2,367
Conversion of available-for-sale debt securities into equity securities	368		—		(368)		—
Unrealized gains (losses)	824		(186)		—		638
Impairment losses	(184)		—		—		(184)
Balance as of December 31, 2024	$	8,685	$	5,669	$	—	$	14,354

Strategic investment activity during the year ended December 31, 2023 is summarized as follows (in thousands):


	Equity Securities		Limited Partnerships		Available-for-Sale Debt Securities		Total
Balance as of December 31, 2022	$	7,286	$	3,402	$	355	$	11,043
Interest accrued	—		—		7		7
Purchases of strategic investments	—		764		—		764
Unrealized gains (losses)	68		(180)		—		(112)
Impairment losses	(175)		—		—		(175)
Balance as of December 31, 2023	$	7,179	$	3,986	$	362	$	11,527

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-9

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aa)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aaa)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

+ Details

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of Financial Assets Measured at Fair Value on Recurring Basis Within Fair Value Hierarchy

Financial assets measured at fair value on a recurring basis within the fair value hierarchy are summarized as follows (in thousands):


	December 31, 2024
	Level 1		Level 2		Total
Cash equivalents:
Money market funds	$	384,648	$	—	$	384,648
Corporate notes and obligations	—		524		524
Marketable securities:
U.S. treasury securities	127,045		—		127,045
Commercial paper	—		18,433		18,433
Corporate notes and obligations	—		238,237		238,237
Total	$	511,693	$	257,194	$	768,887


	December 31, 2023
	Level 1		Level 2		Level 3		Total
Cash equivalents:
Money market funds	$	303,452	$	—	$	—	$	303,452
Marketable securities:
U.S. treasury securities	128,576		—		—		128,576
Commercial paper	—		47,381		—		47,381
Corporate notes and obligations	—		139,680		—		139,680
Time deposits	—		4,524		—		4,524
Strategic investments:
Investments in available-for-sale debt securities	—		—		362		362
Total	$	432,028	$	191,585	$	362	$	623,975

PROPERTY AND EQUIPMENT (Tables)

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

Components of Property and Equipment, Net

Property and equipment, net consisted of the following (in thousands):


	December 31,
	2024		2023
Leasehold improvements	$	38,715	$	29,681
Building improvements	6,311		6,311
Furniture and fixtures	11,579		12,146
Computers and equipment	29,212		22,177
Purchased software	1,660		928
Property and equipment	87,477		71,243
Less: accumulated depreciation and amortization	(43,885)		(34,985)
Property and equipment, net	$	43,592	$	36,258

LEASES (Tables)

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Summary of Components of Lease Expense

The components of lease expense were as follows (in thousands):


	Year Ended December 31,
	2024		2023		2022
Finance lease cost:
Amortization of right of use assets	$	2,645	$	2,672	$	2,705
Interest on lease liabilities	1,874		1,953		2,017
Operating lease cost	13,264		14,620		11,526
Short-term lease cost	742		1,344		674
Variable lease cost	5,038		4,821		5,667
Total lease cost	$	23,563	$	25,410	$	22,589

Summary of Supplemental Information Related to Leases

Supplemental information related to leases is as follows (in thousands):


	December 31,
	2024		2023
Operating Leases
Operating right of use assets	$	28,790	$	44,141
Amount included within other current liabilities	3,746		10,399
Operating lease liabilities, non-current	32,697		37,923
Total operating lease liabilities	$	36,443	$	48,322
Finance Leases
Finance right of use assets	$	31,727	$	34,375
Amount included within other current liabilities	2,228		2,019
Finance lease liabilities, non-current	41,352		43,581
Total finance lease liabilities	$	43,580	$	45,600

Summary of Weighed Average Remaining Lease Term and Discount Rates


	December 31,
	2024		2023		2022
Weighted-average remaining lease term (in years)
Finance leases	12.2		13.2		14.2
Operating leases	8.9		5.5		6.6
Weighted-average discount rate
Finance leases	4.21	%	4.21	%	4.20	%
Operating leases	6.10	%	3.58	%	2.89	%

Summary of Maturities of Lease Payments for Leases

Maturities of lease payments, net of tenant improvement reimbursement, for leases where the lease commencement date commenced on or prior to December 31, 2024 are as follows (in thousands):


Years Ending December 31,	Operating		Finance		Total
2025	$	(3,157)	$	4,013	$	856
2026	3,156		4,126		7,282
2027	5,291		4,288		9,579
2028	6,738		4,424		11,162
2029	5,398		4,512		9,910
Thereafter	37,258		35,021		72,279
Total lease payments, net of tenant improvement reimbursement	$	54,684	$	56,384	$	111,068
Less imputed interest	(18,241)		(12,804)		(31,045)
Total	$	36,443	$	43,580	$	80,023

BUSINESS COMBINATIONS (Tables)

12 Months Ended

Dec. 31, 2024

Business Combinations [Abstract]

Summary of Purchase Consideration Allocated to Assets and Liabilities

The preliminary purchase consideration was allocated to the following assets and liabilities at the acquisition date (in thousands):


	Fair Value		Useful Life
Assets acquired
Cash and cash equivalents	$	2,390
Accounts receivable	964
Prepaid expenses and other current assets	17
Other non-current assets	388
Developed technology intangible asset	16,000		7 years
Customer relationships intangible asset	4,700		10 years
Goodwill	11,333
Total assets acquired	$	35,792
Liabilities assumed
Deferred revenue, current	(2,210)
Other current liabilities	(2,605)
Other non-current liabilities	(388)
Net deferred tax liabilities	(790)
Total liabilities assumed	$	(5,993)
Net assets acquired	$	29,799

INTANGIBLE ASSETS AND GOODWILL (Tables)

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Finite-lived Intangible Assets

The Company’s finite-lived and indefinite-lived intangible assets are summarized as follows (dollars in thousands):


	December 31, 2024
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted-Average Remaining Useful Life (Years)
Developed technology	$	185,947	$	(95,216)	$	90,731	4.0
Customer relationships	71,050		(43,683)		27,367		4.9
Total finite-lived intangible assets	256,997		(138,899)		118,098		4.2
In-process research and development	2,848				2,848
Total intangible assets	$	259,845	$	(138,899)	120,946


	December 31, 2023
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted-Average Remaining Useful Life (Years)
Developed technology	$	166,453	$	(67,221)	$	99,232	4.3
Customer relationships	66,350		(30,884)		35,466		4.2
Total finite-lived intangible assets	232,803		(98,105)		134,698		4.3
In-process research and development	2,848		—		2,848
Total intangible assets	$	235,651	$	(98,105)	$	137,546

Schedule of Intangible Assets Amortization Expense

Amortization expense recorded on the Company's finite-lived intangible assets is summarized as follows (in thousands):


	Year Ended December 31,
	2024		2023		2022
Cost of revenue	$	25,437	$	22,396	$	22,428
Sales and marketing	12,700		12,425		12,425
Research and development	2,657		2,757		3,528
Total amortization of acquired finite-lived intangible assets	$	40,794	$	37,578	$	38,381

Estimated Future Amortization Expense Related to Finite-lived Intangible Assets

The following table outlines the estimated future amortization expense related to finite-lived intangible assets (in thousands):


Years Ending December 31,
2025	$	38,776
2026	24,198
2027	23,354
2028	19,715
2029	4,752
Thereafter	7,303
Total	$	118,098

Schedule of Changes in Carrying Amount of Goodwill

The following table presents the changes in carrying amount of goodwill (in thousands):


	Year Ended December 31,
	2024		2023
Beginning balance	$	539,354	$	539,128
Additions	11,333		—
Other adjustments, net (1)	(1,036)		226
Ending balance	$	549,651	$	539,354

(1) Includes post-closing working capital adjustments and the effect of foreign currency translation.

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

+ Details

CAPITALIZED SOFTWARE DEVELOPMENT COSTS (Tables)

12 Months Ended

Dec. 31, 2024

Capitalized Software Development Costs [Abstract]

Summary of Capitalized Software Development Costs

The Company’s capitalized software development costs are summarized as follows (in thousands):


	December 31,
	2024		2023
Gross carrying amount	$	205,158	$	143,403
Accumulated amortization	(92,837)		(60,358)
Net capitalized software costs (1)	$	112,321	$	83,045

(1) December 31, 2024 and 2023, the above balances include $9.7 million and $12.5 million, respectively, of capitalized software costs developed by the Company for internal use.

Schedule of Remaining Estimated Amortization of Capitalized Software Development Costs

The following table presents the remaining estimated amortization of capitalized software development costs as of December 31, 2024 (in thousands):


Years Ending December 31,
2025	$	53,557
2026	44,574
2027	13,115
2028	897
2029	162
Thereafter	16
Total	$	112,321

ACCRUED EXPENSES (Tables)

12 Months Ended

Dec. 31, 2024

Accrued Liabilities, Current [Abstract]

Schedule of Components of Accrued Expenses

The following represents the components of accrued expenses contained within the Company’s consolidated balance sheets at the end of each period (in thousands):


	December 31,
	2024		2023
Accrued bonuses	$	28,878	$	31,786
Accrued commissions	17,885		16,494
Accrued salary, payroll tax, and employee benefit liabilities	25,210		36,171
Other accrued expenses	16,767		15,624
Total accrued expenses	$	88,740	$	100,075

COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Dec. 31, 2024

Commitments and Contingencies Disclosure [Abstract]

Summary of Future Unconditional Purchase Commitments for Software Service Subscriptions and Other Services

As of December 31, 2024, future minimum payments under our non-cancellable purchase commitments for software service subscriptions and other services were as follows (in thousands):


Years Ending December 31,
2025	$	28,676
2026	15,815
2027	4,759
2028	2,558
Thereafter	—
Total	$	51,808

STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Summary of Stock Option Activity

The following table summarizes the stock option activity during the year ended December 31, 2024 (aggregate intrinsic value in thousands):


	Number of Shares	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life	Aggregate Intrinsic Value
Outstanding at December 31, 2023	4,340,052	$	12.57	4.1	$	245,884
Exercised	(1,187,141)	13.29
Canceled/Forfeited	(753)	19.18
Outstanding at December 31, 2024	3,152,158	12.29		3.2	198,832
Exercisable at December 31, 2024	3,152,158	$	12.29	3.2	$	198,832

Summary of Activity in Connection with RSU and PSU Activity

The following table summarizes the RSU activity during the year ended December 31, 2024:


	Number of Shares	Weighted-Average Grant Date Fair Value
Unvested at December 31, 2023	7,382,073	$	59.35
Granted	4,352,805	73.14
Vested	(3,359,397)	61.54
Canceled/Forfeited	(1,304,038)	64.81
Unvested at December 31, 2024	7,071,443	$	65.85

The following table summarizes the PSU activity during the year ended December 31, 2024:


	Number of Shares	Weighted-Average Grant Date Fair Value
Unvested at December 31, 2023	77,971	$	55.63
Granted(1)	127,465	74.36
Vested	(34,435)	67.21
Canceled/Forfeited	(15,210)	63.52
Unvested at December 31, 2024	155,791	$	67.63

(1) This represents awards granted at 100% attainment of the performance conditions.

Schedule of Fair Value of ESPP Purchase Rights on Date of Grant

The fair value of the ESPP purchase rights on the date of grant using the Black-Scholes option pricing model was estimated using the following assumptions:

December 31,

2024

2023

2022

Risk-free interest rate

4.29% to 5.33%

4.68% to 5.33%

1.47% to 4.55%

Expected term (in years)

0.5 to 1.0

Estimated dividend yield

0.00%

Estimated weighted-average volatility

29.80% to 44.34%

46.29% to 64.76%

61.14% to 72.69%

Summary of Total Stock-based Compensation Cost from Stock Options, RSUs, ESPP, RSAs, and Sales of Stock

The Company recorded total stock-based compensation cost from stock options, RSUs, PSUs, ESPP, RSAs, and sales of stock by employees in excess of fair value as follows (in thousands):


	Year Ended December 31,
	2024		2023		2022
Cost of revenue	$	8,191	$	7,388	$	7,253
Sales and marketing	57,629		54,901		53,397
Research and development	67,926		68,265		63,262
General and administrative	53,134		44,281		38,974
Total stock-based compensation expense	$	186,880	$	174,835	$	162,886
Stock-based compensation capitalized for software development and cloud-computing arrangement implementation costs	13,339		9,717		8,818
Total stock-based compensation cost	$	200,219	$	184,552	$	171,704

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Components of Loss before Provision for Income Taxes

The domestic and foreign components of loss before provision for income taxes consisted of the following (in thousands):


	Year Ended December 31,
	2024		2023		2022
Domestic	$	(110,860)	$	(191,132)	$	(287,569)
Foreign	6,679		2,711		1,104
Total	$	(104,181)	$	(188,421)	$	(286,465)

Provision for Income Taxes

The provision for income taxes is comprised of the following (in thousands):


	Year Ended December 31,
	2024		2023		2022
Current:
State	$	1,094	$	709	$	442
Foreign	1,562		1,333		307
Total	2,656		2,042		749
Deferred:
Federal	9		4		(34)
State	13		6		93
Foreign	(903)		(779)		(342)
Total	(881)		(769)		(283)
Provision for income taxes	$	1,775	$	1,273	$	466

Reconciliation between Income Taxes

The following table provides a reconciliation between income taxes computed at the U.S. federal statutory rate and the Company’s provision for income taxes (in thousands):


	Year Ended December 31,
	2024		2023		2022
Computed expected income tax benefit	$	(21,890)	$	(39,568)	$	(60,120)
State income taxes - net of federal income tax benefit	(5,230)		(6,175)		(10,197)
Change in valuation allowance	50,681		42,855		81,251
Non-deductible expenses	1,859		4,489		2,687
Non-deductible base erosion expenses	4,481		11,403		—
Non-deductible officers’ compensation	9,885		12,775		3,648
Stock-based compensation	(8,676)		(9,678)		135
Tax credits (federal and state)	(21,049)		(18,226)		(16,853)
Foreign rate differential	(102)		40		35
Return-to-provision	(8,127)		3,110		(7)
Other	(57)		248		(113)
Provision for income taxes	$	1,775	$	1,273	$	466

Significant Components of Company's Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities are presented below (in thousands):


	December 31,
	2024		2023
Deferred tax assets:
Net operating loss	$	206,684	$	215,915
Tax credits	96,711		76,504
Lease liabilities	17,108		20,213
Stock-based compensation	9,824		14,899
Capitalized software cost	91,563		59,487
Other	9,011		5,531
Total deferred tax assets	430,901		392,549
Valuation allowance	(372,901)		(324,422)
Total deferred tax assets, net	58,000		68,127

Deferred tax liabilities:
Lease assets	(12,264)		(16,376)
Acquired intangible assets	(23,545)		(32,120)
Contract cost asset	(18,922)		(16,868)
Prepaid and accrued expenses	(3,816)		(3,184)
Other	(897)		(1,201)
Total deferred tax liabilities	(59,444)		(69,749)
Total	$	(1,444)	$	(1,622)

Summary of Activity Related to Valuation Allowance

The following table summarizes the activity related to the valuation allowance (in thousands):


	Year Ended December 31,
	2024		2023		2022
Beginning balance	$	324,422	$	282,337	$	204,182
Current year change	48,479		40,810		78,155
Increase in valuation allowance as a result of purchase accounting for business combinations	—		1,275		—
Ending balance	$	372,901	$	324,422	$	282,337

Schedule of Unrecognized Tax Benefits Roll Forward

The following table summarizes the activity related to unrecognized tax benefits (in thousands):


	Year Ended December 31,
	2024		2023		2022
Beginning balance	$	29,041	$	21,727	$	17,010
Increases related to current period positions	8,564		7,513		5,915
Increases (decreases) related to prior period positions	625		(199)		(1,198)
Ending balance	$	38,230	$	29,041	$	21,727

NET LOSS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

Summary of Potentially Dilutive Shares Excluded from Earnings Per Share

The following weighted-average potentially dilutive shares are excluded from the calculation of diluted earnings per share as they are anti-dilutive:


	Year Ended December 31,
	2024	2023	2022
RSUs, PSUs, and RSAs subject to future vesting	7,687,943	8,489,902	8,189,247
Shares issuable pursuant to the ESPP	368,770	495,554	627,698
Shares of common stock issuable from stock options	3,651,108	4,979,813	6,450,019
Total	11,707,821	13,965,269	15,266,964

GEOGRAPHIC INFORMATION (Tables)

12 Months Ended

Dec. 31, 2024

Geographic Areas, Revenues from External Customers [Abstract]

Summary of Revenue by Geographic Region

The following table sets forth the Company’s revenues by geographic region, which is determined based on the billing location of the customer (in thousands):


	Year Ended December 31,
	2024			2023			2022
Revenue by geographic region
U.S.	$	981,869		$	815,773		$	616,654
Rest of the world	169,839			134,237			103,549
Total revenue	$	1,151,708		$	950,010		$	720,203
Percentage of revenue by geographic region
U.S.	85		%	86		%	86		%
Rest of the world	15		%	14		%	14		%

Summary of Property and Equipment Net and ROU Assets by Geographic Region

The following table sets forth the total of property and equipment, net, and ROU lease assets by geographic region (in thousands):


	December 31,
	2024		2023
U.S.	$	89,522	$	97,936
Rest of the world	14,587		16,838
Total	$	104,109	$	114,774

RESTRUCTURING (Tables)

12 Months Ended

Dec. 31, 2024

Restructuring and Related Activities [Abstract]

Summary of Restructuring-Related Expense

The following table summarizes the severance and other benefit costs incurred during the year ended December 31, 2024 by line item within the consolidated statement of operations and comprehensive loss related to this restructuring event (in thousands):


Cost of revenue	$	318
Sales and marketing	1,298
Research and development	1,750
General and administrative	819
Total restructuring-related costs	$	4,185

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details)	12 Months Ended
	Dec. 31, 2024 USD ($) segment Customer	Dec. 31, 2023 USD ($) Customer	Dec. 31, 2022 USD ($) Customer
Disclosure Of Summary Of Significant Accounting Policies [Line Items]
Number of operating segments \| segment	1
Credit losses	$ 0	$ 0
Allowance for credit losses	6,109,000	4,791,000
Self insurance accrual	$ 2,700,000	$ 3,300,000
Weighted-Average Remaining Useful Life (Years)	4 years 2 months 12 days	4 years 3 months 18 days
Number of reporting units \| segment	1
Gross carrying amount	$ 205,158,000	$ 143,403,000
Capitalized software, accumulated amortization	92,837,000	60,358,000
Credit loss expense	0	8,100,000
Receivables outstanding from customers	0	5,700,000
Allowance for expected credit losses		3,800,000
Aggregate amount of transaction price allocated to remaining performance obligations	$ 1,300,000,000
Contract obtaining cost deferred and recognized over expected benefit period	4 years
Advertising costs	$ 61,800,000	43,100,000	$ 37,200,000
Requisite service period of the awards	4 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Disclosure Of Summary Of Significant Accounting Policies [Line Items]
Aggregate amount of transaction price allocated to remaining performance obligations	$ 829,700,000
Percentage of remaining performance obligation expects to recognize as revenue	64.00%
Revenue, remaining performance obligation, expected timing of satisfaction, period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Disclosure Of Summary Of Significant Accounting Policies [Line Items]
Aggregate amount of transaction price allocated to remaining performance obligations	$ 456,800,000
Capitalized Software Development Costs
Disclosure Of Summary Of Significant Accounting Policies [Line Items]
Estimated useful life	2 years
Cloud Computing Arrangements
Disclosure Of Summary Of Significant Accounting Policies [Line Items]
Gross carrying amount	$ 11,500,000	10,300,000
Capitalized software, accumulated amortization	$ 4,800,000	2,900,000
Minimum
Disclosure Of Summary Of Significant Accounting Policies [Line Items]
Weighted-Average Remaining Useful Life (Years)	3 years
Minimum \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Disclosure Of Summary Of Significant Accounting Policies [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	12 months
Minimum \| Internal Capitalized Software Development Costs
Disclosure Of Summary Of Significant Accounting Policies [Line Items]
Estimated useful life	3 years
Minimum \| Cloud Computing Arrangements
Disclosure Of Summary Of Significant Accounting Policies [Line Items]
Estimated useful life	3 years
Maximum
Disclosure Of Summary Of Significant Accounting Policies [Line Items]
Weighted-Average Remaining Useful Life (Years)	10 years
Maximum \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Disclosure Of Summary Of Significant Accounting Policies [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	36 months
Maximum \| Internal Capitalized Software Development Costs
Disclosure Of Summary Of Significant Accounting Policies [Line Items]
Estimated useful life	5 years
Maximum \| Cloud Computing Arrangements
Disclosure Of Summary Of Significant Accounting Policies [Line Items]
Estimated useful life	5 years
Money market funds
Disclosure Of Summary Of Significant Accounting Policies [Line Items]
Cash equivalents	$ 0	$ 0
Software Products \| Accounts Receivable \| Customer Concentration Risk
Disclosure Of Summary Of Significant Accounting Policies [Line Items]
Number of customers \| Customer	0	0
Concentration risk, percentage	10.00%	10.00%
Software Products \| Revenue \| Customer Concentration Risk
Disclosure Of Summary Of Significant Accounting Policies [Line Items]
Number of customers \| Customer	0	0	0
Concentration risk, percentage	10.00%	10.00%	10.00%

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Summary of Estimated Lives of Assets (Details)	Dec. 31, 2024
Leasehold improvements
Property Plant And Equipment [Line Items]
Estimated Useful Life	15 years
Building improvements
Property Plant And Equipment [Line Items]
Estimated Useful Life	20 years
Furniture and fixtures
Property Plant And Equipment [Line Items]
Estimated Useful Life	5 years
Computers and equipment
Property Plant And Equipment [Line Items]
Estimated Useful Life	3 years

Summary of Significant Accounting Policies - Summary of Changes in Contract Costs Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Capitalized Contract Cost [Roll Forward]
Beginning balance	$ 73,282	$ 64,077	$ 42,919
Additions	39,699	37,243	41,750
Amortization	(31,554)	(28,038)	(20,592)
Ending balance	$ 81,427	$ 73,282	$ 64,077

INVESTMENTS - Schedule of Marketable Securities (Detail) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	$ 383,295	$ 320,166
Gross Unrealized Gains	500	186
Gross Unrealized Losses	(80)	(191)
Fair Value	383,715	320,161
U.S. treasury securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	126,916	128,479
Gross Unrealized Gains	142	124
Gross Unrealized Losses	(13)	(27)
Fair Value	127,045	128,576
Commercial paper
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	18,414	47,415
Gross Unrealized Gains	19	1
Gross Unrealized Losses	0	(35)
Fair Value	18,433	47,381
Corporate notes and obligations
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	237,965	139,747
Gross Unrealized Gains	339	61
Gross Unrealized Losses	(67)	(128)
Fair Value	$ 238,237	139,680
Time deposits
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost		4,525
Gross Unrealized Gains		0
Gross Unrealized Losses		(1)
Fair Value		$ 4,524

- Definition

Amount of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

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INVESTMENTS - Schedule of Contractual Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Due within 1 year	$ 337,673	$ 320,161
Due in 1 to 2 years	46,042	0
Total marketable securities	$ 383,715	$ 320,161

- Definition

Amount of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

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INVESTMENTS - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Schedule Of Available For Sale Securities [Line Items]
Maturities of marketable securities	$ 440,537,000	$ 372,240,000	$ 85,632,000
Sales of marketable securities	0	5,452,000	$ 0
Realized loss on the sale of marketable securities	0	$ 0
Maximum
Schedule Of Available For Sale Securities [Line Items]
Contractual obligation	$ 6,700,000

- Definition

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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

+ Details

INVESTMENTS - Schedule of Strategic Investments Activity (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Increase (Decrease) In Strategic Investments [Roll Forward]
Beginning balance	$ 11,527	$ 11,043
Interest accrued	6	7
Purchases of strategic investments	2,367	764	$ 3,959
Conversion of available-for-sale debt securities into equity securities	0
Unrealized gains (losses)	638	(112)
Impairment losses	(184)	(175)
Ending balance	14,354	11,527	11,043
Limited Partnerships
Increase (Decrease) In Strategic Investments [Roll Forward]
Beginning balance	3,986	3,402
Interest accrued	0	0
Purchases of strategic investments	1,869	764
Conversion of available-for-sale debt securities into equity securities	0
Unrealized gains (losses)	(186)	(180)
Impairment losses	0	0
Ending balance	5,669	3,986	3,402
Available-for-Sale Debt Securities
Increase (Decrease) In Strategic Investments [Roll Forward]
Beginning balance	362	355
Interest accrued	6	7
Purchases of strategic investments	0	0
Conversion of available-for-sale debt securities into equity securities	(368)
Unrealized gains (losses)	0	0
Impairment losses	0	0
Ending balance	0	362	355
Equity Securities
Increase (Decrease) In Strategic Investments [Roll Forward]
Beginning balance	7,179	7,286
Interest accrued	0	0
Purchases of strategic investments	498	0
Conversion of available-for-sale debt securities into equity securities	368
Unrealized gains (losses)	824	68
Impairment losses	(184)	(175)
Ending balance	$ 8,685	$ 7,179	$ 7,286

FAIR VALUE OF FINANCIAL INSTRUMENTS - Schedule of Financial Assets Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Marketable securities:
Fair Value	$ 383,715	$ 320,161
Strategic investments:
Investments in available-for-sale debt securities		362
Total	768,887	623,975
U.S. treasury securities
Marketable securities:
Fair Value	127,045	128,576
Commercial paper
Marketable securities:
Fair Value	18,433	47,381
Corporate notes and obligations
Cash equivalents:
Money market funds	524
Marketable securities:
Fair Value	238,237	139,680
Time deposits
Marketable securities:
Fair Value		4,524
Money market funds
Cash equivalents:
Money market funds	384,648	303,452
Level 1
Strategic investments:
Investments in available-for-sale debt securities		0
Total	511,693	432,028
Level 1 \| U.S. treasury securities
Marketable securities:
Fair Value	127,045	128,576
Level 1 \| Commercial paper
Marketable securities:
Fair Value	0	0
Level 1 \| Corporate notes and obligations
Cash equivalents:
Money market funds	0
Marketable securities:
Fair Value	0	0
Level 1 \| Time deposits
Marketable securities:
Fair Value		0
Level 1 \| Money market funds
Cash equivalents:
Money market funds	384,648	303,452
Level 2
Strategic investments:
Investments in available-for-sale debt securities		0
Total	257,194	191,585
Level 2 \| U.S. treasury securities
Marketable securities:
Fair Value	0	0
Level 2 \| Commercial paper
Marketable securities:
Fair Value	18,433	47,381
Level 2 \| Corporate notes and obligations
Cash equivalents:
Money market funds	524
Marketable securities:
Fair Value	238,237	139,680
Level 2 \| Time deposits
Marketable securities:
Fair Value		4,524
Level 2 \| Money market funds
Cash equivalents:
Money market funds	$ 0	0
Level 3
Strategic investments:
Investments in available-for-sale debt securities		362
Total		362
Level 3 \| U.S. treasury securities
Marketable securities:
Fair Value		0
Level 3 \| Commercial paper
Marketable securities:
Fair Value		0
Level 3 \| Corporate notes and obligations
Marketable securities:
Fair Value		0
Level 3 \| Time deposits
Marketable securities:
Fair Value		0
Level 3 \| Money market funds
Cash equivalents:
Money market funds		$ 0

PROPERTY AND EQUIPMENT - Components of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Property Plant And Equipment [Line Items]
Property and equipment	$ 87,477	$ 71,243
Less: accumulated depreciation and amortization	(43,885)	(34,985)
Property and equipment, net	43,592	36,258
Leasehold improvements
Property Plant And Equipment [Line Items]
Property and equipment	38,715	29,681
Building improvements
Property Plant And Equipment [Line Items]
Property and equipment	6,311	6,311
Furniture and fixtures
Property Plant And Equipment [Line Items]
Property and equipment	11,579	12,146
Computers and equipment
Property Plant And Equipment [Line Items]
Property and equipment	29,212	22,177
Purchased software
Property Plant And Equipment [Line Items]
Property and equipment	$ 1,660	$ 928

PROPERTY AND EQUIPMENT - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Depreciation and amortization	$ 11.7	$ 11.8	$ 11.1

LEASES - Additional Information (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Feb. 24, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Lessee Lease Description [Line Items]
Lease extension period (in years)		10 years
Increase in future rent commitments		$ 10,700
Increase (decrease) in operating lease liabilities		(7,272)	$ (13,840)	$ (8,890)
Letters of credit outstanding		4,300
Subsequent Event
Lessee Lease Description [Line Items]
Increase in future rent commitments	$ 22,000
Austin Texas Office Space
Lessee Lease Description [Line Items]
Increase (decrease) in operating lease right-of-use assets		(4,000)
Increase (decrease) in operating lease liabilities		$ (4,300)
Minimum
Lessee Lease Description [Line Items]
Non-cancelable lease term (in years)		1 year
Maximum
Lessee Lease Description [Line Items]
Non-cancelable lease term (in years)		10 years
Lease extension period (in years)		10 years

LEASES - Summary of Components of Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Amortization of right of use assets	$ 2,645	$ 2,672	$ 2,705
Interest on lease liabilities	1,874	1,953	2,017
Operating lease cost	13,264	14,620	11,526
Short-term lease cost	742	1,344	674
Variable lease cost	5,038	4,821	5,667
Total lease cost	$ 23,563	$ 25,410	$ 22,589

LEASES - Summary of Supplemental Information Related to Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Operating right of use assets	$ 28,790	$ 44,141
Amount included within other current liabilities	$ 3,746	$ 10,399
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other current liabilities	Other current liabilities
Operating lease liabilities, non-current	$ 32,697	$ 37,923
Total operating lease liabilities	36,443	48,322
Finance right of use assets	31,727	34,375
Amount included within other current liabilities	$ 2,228	$ 2,019
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other current liabilities	Other current liabilities
Finance lease liabilities, non-current	$ 41,352	$ 43,581
Total finance lease liabilities	$ 43,580	$ 45,600

LEASES - Summary of Weighed Average Remaining Lease Term and Discount Rates (Details)	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Weighted-average remaining lease term, financing leases (in years)	12 years 2 months 12 days	13 years 2 months 12 days	14 years 2 months 12 days
Weighted-average remaining lease term, operating leases (in years)	8 years 10 months 24 days	5 years 6 months	6 years 7 months 6 days
Weighted-average discount rate, finance leases, percentage	4.21%	4.21%	4.20%
Weighted-average discount rate, operating leases, percentage	6.10%	3.58%	2.89%

LEASES - Summary of Maturities of Lease Payments for Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Operating
2025	$ (3,157)
2026	3,156
2027	5,291
2028	6,738
2029	5,398
Thereafter	37,258
Total lease payments, net of tenant improvement reimbursement	54,684
Less imputed interest	(18,241)
Total	36,443	$ 48,322
Finance
2025	4,013
2026	4,126
2027	4,288
2028	4,424
2029	4,512
Thereafter	35,021
Total lease payments, net of tenant improvement reimbursement	56,384
Less imputed interest	(12,804)
Total	43,580	$ 45,600
Total
2025	856
2026	7,282
2027	9,579
2028	11,162
2029	9,910
Thereafter	72,279
Total lease payments, net of tenant improvement reimbursement	111,068
Less imputed interest	(31,045)
Total	$ 80,023

BUSINESS COMBINATIONS - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended
	May 30, 2024	Feb. 28, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Goodwill			$ 549,651	$ 539,354	$ 539,128
Intelliwave Technologies, Inc.
Business Acquisition [Line Items]
Total purchase consideration	$ 29,800
Cash consideration held in escrow	4,300
Escrow deposit to be released in eighteen months	3,800
Goodwill	$ 11,333
Intelliwave Technologies, Inc. \| Subsequent Event
Business Acquisition [Line Items]
Escrow deposit released		$ 500
Intelliwave Technologies, Inc. \| Developed Technology
Business Acquisition [Line Items]
Acquired intangible assets, useful life	7 years
Intelliwave Technologies, Inc. \| Customer relationships
Business Acquisition [Line Items]
Acquired intangible assets, useful life	10 years
Intelliwave Technologies, Inc. \| Performance Shares
Business Acquisition [Line Items]
Equity instruments other than options, issued in connection with acquisitions (in shares)	65,269
Intelliwave Technologies, Inc. \| Restricted Stock Units (RSUs)
Business Acquisition [Line Items]
Equity instruments other than options, issued in connection with acquisitions (in shares)	67,807
Grant date fair value (in dollars per share)	$ 68.96

BUSINESS COMBINATIONS - Summary of Total Purchase Consideration (Details) - USD ($) $ in Thousands	May 30, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Assets acquired
Goodwill		$ 549,651	$ 539,354	$ 539,128
Intelliwave Technologies, Inc.
Assets acquired
Cash and cash equivalents	$ 2,390
Accounts receivable	964
Prepaid expenses and other current assets	17
Other non-current assets	388
Goodwill	11,333
Total assets acquired	35,792
Liabilities assumed
Deferred revenue, current	(2,210)
Other current liabilities	(2,605)
Other non-current liabilities	(388)
Net deferred tax liabilities	(790)
Total liabilities assumed	(5,993)
Net assets acquired	29,799
Intelliwave Technologies, Inc. \| Developed Technology
Assets acquired
Intangible assets	$ 16,000
Acquired intangible assets, useful life	7 years
Intelliwave Technologies, Inc. \| Customer relationships
Assets acquired
Intangible assets	$ 4,700
Acquired intangible assets, useful life	10 years

INTANGIBLE ASSETS AND GOODWILL - Additional Information (Details) - USD ($)		12 Months Ended
	Sep. 15, 2023	Dec. 31, 2024	Dec. 31, 2023
Finite Lived Intangible Assets [Line Items]
Intangible asset, estimated useful life		4 years 2 months 12 days	4 years 3 months 18 days
Impairment of indefinite-lived intangible assets		$ 0	$ 0
Residual value of intangible assets		0
Goodwill impairment		$ 0	$ 0
Developed Technology
Finite Lived Intangible Assets [Line Items]
Intangible asset, estimated useful life		4 years	4 years 3 months 18 days
Intelliwave Technologies, Inc. \| Developed Technology
Finite Lived Intangible Assets [Line Items]
Intangible assets acquired		$ 3,900,000
Intangible asset, estimated useful life		4 years
Unearth Technologies, Inc.
Finite Lived Intangible Assets [Line Items]
In-process research and development intangible asset		$ 2,800,000
Unearth Technologies, Inc. \| Developed Technology
Finite Lived Intangible Assets [Line Items]
Intangible assets acquired			$ 9,200,000
Acquired intangible assets, useful life	5 years

INTANGIBLE ASSETS AND GOODWILL - Schedule of Finite-lived and Indefinite-lived Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 256,997	$ 232,803
Accumulated Amortization	(138,899)	(98,105)
Net Carrying Amount	$ 118,098	$ 134,698
Weighted-Average Remaining Useful Life (Years)	4 years 2 months 12 days	4 years 3 months 18 days
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross Carrying Amount	$ 259,845	$ 235,651
Accumulated Amortization	(138,899)	(98,105)
Net Carrying Amount	120,946	137,546
In-process research and development
Indefinite-Lived Intangible Assets [Line Items]
In-process research and development	2,848	2,848
Developed technology
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	185,947	166,453
Accumulated Amortization	(95,216)	(67,221)
Net Carrying Amount	$ 90,731	$ 99,232
Weighted-Average Remaining Useful Life (Years)	4 years	4 years 3 months 18 days
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	$ (95,216)	$ (67,221)
Customer relationships
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	71,050	66,350
Accumulated Amortization	(43,683)	(30,884)
Net Carrying Amount	$ 27,367	$ 35,466
Weighted-Average Remaining Useful Life (Years)	4 years 10 months 24 days	4 years 2 months 12 days
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	$ (43,683)	$ (30,884)

INTANGIBLE ASSETS AND GOODWILL - Schedule of Intangible Assets Amortization Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Finite Lived Intangible Assets [Line Items]
Total amortization of acquired finite-lived intangible assets	$ 40,794	$ 37,578	$ 38,381
Cost of revenue
Finite Lived Intangible Assets [Line Items]
Total amortization of acquired finite-lived intangible assets	25,437	22,396	22,428
Sales and marketing
Finite Lived Intangible Assets [Line Items]
Total amortization of acquired finite-lived intangible assets	12,700	12,425	12,425
Research and development
Finite Lived Intangible Assets [Line Items]
Total amortization of acquired finite-lived intangible assets	$ 2,657	$ 2,757	$ 3,528

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

INTANGIBLE ASSETS AND GOODWILL - Estimated Future Amortization Expense Related to Finite-lived Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Finite Lived Intangible Assets [Line Items]
Net Carrying Amount	$ 118,098	$ 134,698
Intangible Assets, Excluding Capitalized Software Development Costs
Finite Lived Intangible Assets [Line Items]
2025	38,776
2026	24,198
2027	23,354
2028	19,715
2029	4,752
Thereafter	7,303
Net Carrying Amount	$ 118,098

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

INTANGIBLE ASSETS AND GOODWILL - Schedule of Changes in Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Goodwill [Roll Forward]
Beginning balance	$ 539,354	$ 539,128
Additions	11,333	0
Other adjustments, net	(1,036)	226
Ending balance	$ 549,651	$ 539,354

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 49
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-49

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481372/852-10-55-10

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(15))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482598/350-20-45-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(10)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

+ Details

CAPITALIZED SOFTWARE DEVELOPMENT COSTS - Summary of Capitalized Software Development Costs (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Property Plant And Equipment [Line Items]
Gross carrying amount	$ 205,158	$ 143,403
Accumulated amortization	(92,837)	(60,358)
Net capitalized software costs	112,321	83,045
Internally Used Software Development
Property Plant And Equipment [Line Items]
Net capitalized software costs	$ 9,700	$ 12,500

CAPITALIZED SOFTWARE DEVELOPMENT COSTS - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cost of revenue
Capitalized Software Development Costs [Line Items]
Amortization of capitalized software	$ 29.3	$ 17.6	$ 10.6
Operating Expense \| Internally Used Software Development
Capitalized Software Development Costs [Line Items]
Amortization of capitalized software	3.2	1.7
Research and development
Capitalized Software Development Costs [Line Items]
Software development costs	$ 0.4	$ 0.4	$ 0.3

CAPITALIZED SOFTWARE DEVELOPMENT COSTS - Schedule of Remaining Estimated Amortization of Capitalized Software Development Costs (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Finite Lived Intangible Assets [Line Items]
Intangible assets, net	$ 118,098	$ 134,698
Amortization of Capitalized Software Development Costs
Finite Lived Intangible Assets [Line Items]
2025	53,557
2026	44,574
2027	13,115
2028	897
2029	162
Thereafter	16
Intangible assets, net	$ 112,321

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

ACCRUED EXPENSES - Schedule of Components of Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Accrued Liabilities, Current [Abstract]
Accrued bonuses	$ 28,878	$ 31,786
Accrued commissions	17,885	16,494
Accrued salary, payroll tax, and employee benefit liabilities	25,210	36,171
Other accrued expenses	16,767	15,624
Total accrued expenses	$ 88,740	$ 100,075

COMMITMENTS AND CONTINGENCIES - Summary of Future Unconditional Purchase Commitments for Software Service Subscriptions and Other Services (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2025	$ 28,676
2026	15,815
2027	4,759
2028	2,558
Thereafter	0
Total	$ 51,808

STOCK-BASED COMPENSATION - Additional Information (Details)		1 Months Ended		12 Months Ended
	May 20, 2021 USD ($) shares	Mar. 31, 2024 shares	Nov. 30, 2021 $ / shares shares	Dec. 31, 2024 USD ($) purchase_period shares	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($) shares	Oct. 31, 2024 USD ($)	Jan. 01, 2024 shares	Jan. 01, 2023 shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of options issued (in shares) \| shares				3,152,158	4,340,052
Number of shares granted (in shares) \| shares				0	0
Aggregate intrinsic value, exercised				$ 67,600,000	$ 66,700,000	$ 75,100,000
Total unrecognized stock-based compensation expense				0
Stock-based compensation expense				186,880,000	174,835,000	162,886,000
Accrued salary, payroll tax, and employee benefit liabilities				25,210,000	36,171,000
Share repurchase program authorized amount							$ 300,000,000
Share-based payment arrangement, expense, tax benefit				0	0	0
Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total unrecognized stock-based compensation expense				$ 7,500,000
Total unrecognized compensation cost, weighted-average period (in years)				6 months
Stock-based compensation expense				$ 9,300,000	10,700,000	$ 15,000,000.0
Offering period (in months)				12 months
Number of purchase periods \| purchase_period				2
Duration of purchase periods (in months)	6 months			6 months
Percentage of eligible compensation	15.00%
Maximum amount each participant can contribute to a defined contribution plan per calendar year	$ 25,000
Maximum number of shares each participant can purchase during purchase period (in shares) \| shares	2,500
Purchase price, threshold of fair market value, percentage	85.00%
Expected dividend yield utilized				0.00%
Accrued salary, payroll tax, and employee benefit liabilities				$ 5,400,000	$ 5,000,000.0
Common stock, purchased (in shares) \| shares				465,698	575,928	551,753
Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grant date fair value				$ 318,400,000	$ 238,800,000	$ 323,000,000.0
Intrinsic value, vested				232,900,000	221,900,000	156,400,000
Total unrecognized stock-based compensation expense				$ 434,100,000
Total unrecognized compensation cost, weighted-average period (in years)				2 years 7 months 6 days
Shares granted (in shares) \| shares				4,352,805
Restricted Stock Units (RSUs) \| IPO
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period (in years)				4 years
Performance Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period (in years)		3 years
Grant date fair value				$ 9,500,000	1,900,000	3,400,000
Intrinsic value, vested				2,300,000	$ 700,000	500,000
Total unrecognized stock-based compensation expense				$ 2,800,000
Total unrecognized compensation cost, weighted-average period (in years)				1 year 8 months 12 days
Shares granted (in shares) \| shares		46,986		127,465
Award payout range, percentage				1
Performance Shares \| Revenue Performance Goals
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares granted (in shares) \| shares				35,239
Share based payment award, percentage of awards				75.00%
Performance Shares \| Revenue Performance Goals \| Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award payout range, percentage				0
Performance Shares \| Revenue Performance Goals \| Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award payout range, percentage				2
Performance Shares \| Non-GAAP Operating Margin Performance
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares granted (in shares) \| shares				11,747
Share based payment award, percentage of awards				25.00%
Performance Shares \| Non-GAAP Operating Margin Performance \| Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award payout range, percentage				0
Performance Shares \| Non-GAAP Operating Margin Performance \| Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award payout range, percentage				1.50
Performance Shares \| Final Vesting, After February 20, 2025
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period (in years)				2 years
Performance Shares \| On Or After February 20, 2025
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award payout range, percentage				0.33
Restricted Stock Awards \| Levelset
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period (in years)			2 years
Issuance of unregistered common stock for certain employees (in shares) \| shares			199,670
Share price (in dollars per share) \| $ / shares			$ 95.05
Shares vested (in shares) \| shares					99,833
Stock-based compensation expense					$ 7,800,000	$ 9,500,000
Common Stock \| Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares authorized for issuance (in shares) \| shares					5,332,064				1,448,064
Total number of shares outstanding, percentage	1.00%
Period common stock is reserved for issuance (in years)	10 years
Maximum number of additional shares of common stock that may be issued (in shares) \| shares	3,900,000
2021 Equity Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of options issued (in shares) \| shares				0
2021 Equity Incentive Plan \| Common Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares authorized for issuance (in shares) \| shares				51,863,260	44,622,937
Total number of shares outstanding, percentage	5.00%
Number of shares initially available for issuance (in shares) \| shares				32,973,402				7,240,323

STOCK-BASED COMPENSATION - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward]
Outstanding, beginning of period (in shares)	4,340,052
Exercised (in shares)	(1,187,141)
Canceled/forfeited (in shares)	(753)
Outstanding, end of period (in shares)	3,152,158	4,340,052
Exercisable (in shares)	3,152,158
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward]
Outstanding, beginning of period (in dollars per share)	$ 12.57
Exercised (in dollars per share)	13.29
Canceled/forfeited (in dollars per share)	19.18
Outstanding, end of period (in dollars per share)	12.29	$ 12.57
Exercisable (in dollars per share)	$ 12.29
Weighted average remaining contractual life, options outstanding (in years)	3 years 2 months 12 days	4 years 1 month 6 days
Weighted average remaining contractual life, options exercisable (in years)	3 years 2 months 12 days
Aggregate intrinsic value, outstanding	$ 198,832	$ 245,884
Aggregate intrinsic value, exercised	67,600	$ 66,700	$ 75,100
Aggregate intrinsic value, exercisable	$ 198,832

STOCK-BASED COMPENSATION - Summary of RSU and PSU Activity (Details)	1 Months Ended	12 Months Ended
	Mar. 31, 2024 shares	Dec. 31, 2024 $ / shares shares
Restricted Stock Units (RSUs)
Number of Shares
Unvested, beginning of period (in shares) \| shares		7,382,073
Granted (in shares) \| shares		4,352,805
Vested (in shares) \| shares		(3,359,397)
Canceled/forfeited (in shares) \| shares		(1,304,038)
Unvested, end of period (in shares) \| shares		7,071,443
Weighted-Average Grant Date Fair Value
Unvested, beginning of period (in dollars per share) \| $ / shares		$ 59.35
Granted (in dollars per share) \| $ / shares		73.14
Vested (in dollars per share) \| $ / shares		61.54
Canceled/forfeited (in dollars per share) \| $ / shares		64.81
Unvested, end of period (in dollars per share) \| $ / shares		$ 65.85
Performance Shares
Number of Shares
Unvested, beginning of period (in shares) \| shares		77,971
Granted (in shares) \| shares	46,986	127,465
Vested (in shares) \| shares		(34,435)
Canceled/forfeited (in shares) \| shares		(15,210)
Unvested, end of period (in shares) \| shares		155,791
Weighted-Average Grant Date Fair Value
Unvested, beginning of period (in dollars per share) \| $ / shares		$ 55.63
Granted (in dollars per share) \| $ / shares		74.36
Vested (in dollars per share) \| $ / shares		67.21
Canceled/forfeited (in dollars per share) \| $ / shares		63.52
Unvested, end of period (in dollars per share) \| $ / shares		$ 67.63
Award payout range, percentage		1

STOCK-BASED COMPENSATION - Schedule of Fair Value of ESPP Purchase Rights on Date of Grant (Detail) - Employee Stock Purchase Plan	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Estimated dividend yield	0.00%	0.00%	0.00%
Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Risk-free interest rate	4.29%	4.68%	1.47%
Expected term (in years)	6 months	6 months	6 months
Estimated weighted-average volatility	29.80%	46.29%	61.14%
Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Risk-free interest rate	5.33%	5.33%	4.55%
Expected term (in years)	1 year	1 year	1 year
Estimated weighted-average volatility	44.34%	64.76%	72.69%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

STOCK-BASED COMPENSATION - Summary of Total Stock-based Compensation Cost from Stock Options, RSUs, ESPP, RSAs, and Sales of Stock (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 186,880	$ 174,835	$ 162,886
Stock-based compensation capitalized for software development and cloud-computing arrangement implementation costs	13,339	9,717	8,818
Total stock-based compensation cost	200,219	184,552	171,704
Cost of revenue
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	8,191	7,388	7,253
Sales and marketing
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	57,629	54,901	53,397
Research and development
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	67,926	68,265	63,262
General and administrative
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 53,134	$ 44,281	$ 38,974

INCOME TAXES - Components of Loss before Provision for (Benefit from) Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Domestic	$ (110,860)	$ (191,132)	$ (287,569)
Foreign	6,679	2,711	1,104
Loss before provision for income taxes	$ (104,181)	$ (188,421)	$ (286,465)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

INCOME TAXES - Provision for (Benefit from) Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current:
State	$ 1,094	$ 709	$ 442
Foreign	1,562	1,333	307
Total	2,656	2,042	749
Deferred:
Federal	9	4	(34)
State	13	6	93
Foreign	(903)	(779)	(342)
Total	(881)	(769)	(283)
Provision for income taxes	$ 1,775	$ 1,273	$ 466

INCOME TAXES - Reconciliation between Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Computed expected income tax benefit	$ (21,890)	$ (39,568)	$ (60,120)
State income taxes - net of federal income tax benefit	(5,230)	(6,175)	(10,197)
Change in valuation allowance	50,681	42,855	81,251
Non-deductible expenses	1,859	4,489	2,687
Non-deductible base erosion expenses	4,481	11,403	0
Non-deductible officers’ compensation	9,885	12,775	3,648
Stock-based compensation	(8,676)	(9,678)	135
Tax credits (federal and state)	(21,049)	(18,226)	(16,853)
Foreign rate differential	(102)	40	35
Return-to-provision	(8,127)	3,110	(7)
Other	(57)	248	(113)
Provision for income taxes	$ 1,775	$ 1,273	$ 466

INCOME TAXES - Significant Components of Company's Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets:
Net operating loss	$ 206,684	$ 215,915
Tax credits	96,711	76,504
Lease liabilities	17,108	20,213
Stock-based compensation	9,824	14,899
Capitalized software cost	91,563	59,487
Other	9,011	5,531
Total deferred tax assets	430,901	392,549
Valuation allowance	(372,901)	(324,422)	$ (282,337)	$ (204,182)
Total deferred tax assets, net	58,000	68,127
Deferred tax liabilities:
Lease assets	(12,264)	(16,376)
Acquired intangible assets	(23,545)	(32,120)
Contract cost asset	(18,922)	(16,868)
Prepaid and accrued expenses	(3,816)	(3,184)
Other	(897)	(1,201)
Total deferred tax liabilities	(59,444)	(69,749)
Total	$ (1,444)	$ (1,622)

INCOME TAXES - Summary of Activity Related to Valuation Allowance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Valuation Allowance [Roll Forward]
Beginning balance	$ 324,422	$ 282,337	$ 204,182
Current year change	48,479	40,810	78,155
Increase in valuation allowance as a result of purchase accounting for business combinations	0	1,275	0
Ending balance	$ 372,901	$ 324,422	$ 282,337

INCOME TAXES - Additional Information (Details)	12 Months Ended
INCOME TAXES - Additional Information (Details)	Dec. 31, 2024 USD ($)
Income Tax Disclosures [Line Items]
Cumulative change in ownership, period	3 years
Unrecognized tax benefits that would impact effective tax rate	$ 0
Minimum
Income Tax Disclosures [Line Items]
Cumulative change in ownership, percentage	50.00%
Federal
Income Tax Disclosures [Line Items]
Net operating loss carryforwards	$ 822,600,000
Federal \| Expire At Various Intervals Between 2035 Through 2037
Income Tax Disclosures [Line Items]
Net operating loss carryforwards	73,500,000
Federal \| Do Not Expire
Income Tax Disclosures [Line Items]
Net operating loss carryforwards	749,200,000
Federal \| Research Tax Credit Carryforward
Income Tax Disclosures [Line Items]
Tax credit carryforward	96,200,000
State \| Begin to Expire in 2029
Income Tax Disclosures [Line Items]
Net operating loss carryforwards	626,700,000
State \| Research Tax Credit Carryforward
Income Tax Disclosures [Line Items]
Tax credit carryforward	$ 39,200,000

INCOME TAXES - Summary of Activity Related to Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance	$ 29,041	$ 21,727	$ 17,010
Increases related to current period positions	8,564	7,513	5,915
Increases (decreases) related to prior period positions	625	(199)	(1,198)
Ending balance	$ 38,230	$ 29,041	$ 21,727

NET LOSS PER SHARE - Summary of Potentially Dilutive Shares Excluded from Earnings Per Share (Details) - shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Weighted-average potentially dilutive shares excluded from the calculation of diluted earnings per share (in shares)	11,707,821	13,965,269	15,266,964
RSUs, PSUs, and RSAs subject to future vesting
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Weighted-average potentially dilutive shares excluded from the calculation of diluted earnings per share (in shares)	7,687,943	8,489,902	8,189,247
Shares issuable pursuant to the ESPP
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Weighted-average potentially dilutive shares excluded from the calculation of diluted earnings per share (in shares)	368,770	495,554	627,698
Shares of common stock issuable from stock options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Weighted-average potentially dilutive shares excluded from the calculation of diluted earnings per share (in shares)	3,651,108	4,979,813	6,450,019

EMPLOYEE BENEFIT PLANS - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Other Countries
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, employer contributions	$ 4,000	$ 3,600	$ 2,800
401K Plan
Defined Benefit Plan Disclosure [Line Items]
Employer matching contribution, percent of employees' gross pay	4.00%
Maximum annual contributions per employee, amount		5
Defined benefit plan, employer contributions	$ 13,400	17,200	14,700
401K Plan \| Other Countries
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, employer contributions	$ 4,000	$ 3,600	$ 2,800

GEOGRAPHIC INFORMATION - Summary of Revenue by Geographic Region (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Revenue	$ 1,151,708	$ 950,010	$ 720,203
U.S.
Segment Reporting Information [Line Items]
Revenue	$ 981,869	$ 815,773	$ 616,654
U.S. \| Revenue Benchmark \| Geographic Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk, percentage	85.00%	86.00%	86.00%
Rest of the world
Segment Reporting Information [Line Items]
Revenue	$ 169,839	$ 134,237	$ 103,549
Rest of the world \| Revenue Benchmark \| Geographic Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk, percentage	15.00%	14.00%	14.00%

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 4: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479941/924-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-5

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-42

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-40

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-4

+ Details

GEOGRAPHIC INFORMATION - Summary of Property and Equipment Net and ROU Assets by Geographic Region (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Total property and equipment, net, and right of use lease assets	$ 104,109	$ 114,774
U.S.
Segment Reporting Information [Line Items]
Total property and equipment, net, and right of use lease assets	89,522	97,936
Rest of the world
Segment Reporting Information [Line Items]
Total property and equipment, net, and right of use lease assets	$ 14,587	$ 16,838

Restructuring - Additional Information (Details) - USD ($)	1 Months Ended
	Jan. 31, 2024	Dec. 31, 2024
Restructuring and Related Activities [Abstract]
Positions eliminated, percent	4.00%
Restructuring reserve		$ 0

Restructuring - Summary of Restructuring-Related Expense (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($)
Restructuring Cost And Reserve [Line Items]
Total restructuring-related costs	$ 4,185
Cost of revenue
Restructuring Cost And Reserve [Line Items]
Total restructuring-related costs	$ 318
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]	Cost of revenue
Sales and marketing
Restructuring Cost And Reserve [Line Items]
Total restructuring-related costs	$ 1,298
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]	Sales and marketing
Research and development
Restructuring Cost And Reserve [Line Items]
Total restructuring-related costs	$ 1,750
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]	Research and development
General and administrative
Restructuring Cost And Reserve [Line Items]
Total restructuring-related costs	$ 819
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]	General and administrative

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

SUBSEQUENT EVENTS (Details) - Subsequent Event - USD ($) $ in Millions		1 Months Ended
	Jan. 28, 2025	Feb. 28, 2025
Restricted Stock Units (RSUs)
Subsequent Event [Line Items]
Share-based payment arrangement, decrease for tax withholding obligation		$ 28.3
Novorender
Subsequent Event [Line Items]
Total purchase consideration	$ 50.5