v3.25.1
Segment and Geographic Area Information
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment and Geographic Area Information Segment and Geographic Area Information
Under ASC 280 Segment Reporting, operating segments are defined as components of an entity about which separate financial information is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The Company operates in one operating segment and has only one reportable segment. The Company’s chief operating decision maker is the Chief Executive Officer, who makes operating decisions, assesses performance and allocates resources on a consolidated basis. All of the Company’s principal operations and decision-making functions are located in the United States.
The key measure of segment profit or loss that the CODM uses to allocate resources and in assessing performance is the Company’s consolidated net income, as reported on the Condensed Consolidated Statements of Operations. The CODM uses net income to monitor actual results against budgeted and prior period operating results for the purpose of evaluating operational efficiency, and to evaluate income generated from the assets in making strategic decisions on organizational resource allocation, as well as to benchmark segment performance against industry competitors.
The CODM manages the business using consolidated expense information. The following table sets forth the Company's reported segment revenue, segment profit or loss, and significant segment expenses:
Three Months Ended
March 31,
20252024
(in thousands)
Revenues$159,899 $145,805 
Less: Significant segment expenses
Cost of revenues (exclusive of stock-based compensation and amortization of intangible assets)26,196 24,431 
Research and development (exclusive of stock-based compensation and amortization of intangible assets)24,050 22,202 
Sales and marketing (exclusive of stock-based compensation)29,460 25,669 
General and administrative (exclusive of stock-based compensation)8,978 8,939 
Add: Other segment items (1)317 (1,399)
Less: Stock-based compensation18,820 19,031 
Less: Amortization of intangible assets640 772 
Add: Interest income6,235 6,123 
Less: Income tax provision10,773 9,754 
Condensed consolidated net income$47,534 $39,731 

(1)Other segment items included in segment net income includes interest expense, realized and unrealized gain/loss on foreign exchange transactions.
Revenue by geographic area, based on the customer's billing address, is as follows:
Three Months Ended
March 31,
20252024
(in thousands)
United States$91,227 $86,436 
Foreign68,672 59,369 
Total revenues$159,899 $145,805 
The measure of segment assets is reported on the balance sheet as total consolidated assets. Long-lived assets, which consist of Property and equipment, net and Operating leases - right of use asset, by geographic area, are as follows:
March 31,
2025		December 31,
2024
(in thousands)
United States$46,947 $47,916 
India20,458 21,076 
Rest of world2,174 2,325 
Total long-lived assets$69,579 $71,317