v3.26.1
Financial Statement Components
 3 Months Ended
Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Financial Statement Components
Note 3. Financial Statement Components
Cash and cash equivalents consisted of the following (in thousands):
March 31, 2026December 31, 2025
Cash$111,106 $127,140 
Money market funds5,472 5,424 
Total cash and cash equivalents$116,578 $132,564 
As of March 31, 2026 and December 31, 2025, $8.4 million included in the cash balance above represents restricted cash held in the form of a bank deposit for the issuance of a foreign bank guarantee.
Accounts receivable, net consisted of the following (in thousands):
March 31, 2026December 31, 2025
Accounts receivable$283,420 $303,256 
Unbilled accounts receivable96,205 98,935 
Allowance for doubtful accounts(17,089)(18,091)
Accounts receivable, net$362,536 $384,100 
Prepaid expenses and other current assets consisted of the following (in thousands):
March 31, 2026December 31, 2025
Prepaid expenses$48,849 $43,142 
Inventory1,001 929 
Other current assets36,695 37,119 
Total prepaid expenses and other current assets$86,545 $81,190 
Property and equipment, net consisted of the following (in thousands):
March 31, 2026December 31, 2025
Computer hardware and software$279,775 $274,700 
Internal-use software development costs394,254 377,785 
Furniture and fixtures9,301 8,990 
Leasehold improvements10,976 10,041 
Total property and equipment, gross694,306 671,516 
Less: accumulated depreciation and amortization(505,245)(484,946)
Property and equipment, net$189,061 $186,570 
Total depreciation and amortization expense related to property and equipment was $22.4 million and $21.7 million for the three months ended March 31, 2026 and 2025, respectively.
A summary of activity of the Company’s carrying value of goodwill during the three months ended March 31, 2026 is presented in the following table (in thousands):
Balance as of December 31, 2025$97,792 
Acquisitions (Note 7)
5,710 
Foreign currency translation adjustments(518)
Balance as of March 31, 2026$102,984 
The carrying values of intangible assets are as follows (in thousands):
March 31, 2026December 31, 2025
Weighted-Average Remaining Useful LifeCostAccumulated
Amortization		Acquired
Intangibles, Net		CostAccumulated
Amortization		Acquired
Intangibles, Net
Customer relationships
3.2 years
$65,986 $37,105 $28,881 $60,660 $34,745 $25,915 
Developed technology
0.9 years
789,102 706,481 82,621 784,130 674,635 109,495 
Total acquired intangible assets$855,088 $743,586 $111,502 $844,790 $709,380 $135,410 
Amortization expense from acquired intangible assets for the three months ended March 31, 2026 and 2025 was $34.5 million and $33.4 million, respectively. Amortization of developed technology is included in cost of revenues and amortization of customer relationships is included in sales and marketing expenses in the Condensed Consolidated Statements of Operations.
Estimated amortization expense for acquired intangible assets for the following fiscal years is as follows (in thousands):
2026 (remaining)$82,644 
202712,327 
202810,827 
20293,974 
2030 onwards1,730 
Total estimated amortization expense$111,502 
Accrued liabilities consisted of the following (in thousands):
March 31, 2026December 31, 2025
Accrued compensation and benefits$58,190 $54,715 
Accrued sales, use, and telecom related taxes49,612 54,182 
Accrued marketing and sales commissions37,062 37,102 
Operating lease liabilities, short-term21,903 21,293 
Other accrued expenses135,316 130,341 
Total accrued liabilities$302,083 $297,633 
Deferred and Prepaid Sales Commission Costs
Amortization expense for the deferred and prepaid sales commission costs was $39.4 million and $40.8 million for the three months ended March 31, 2026 and 2025, respectively. There was no impairment loss in relation to the deferred commissions costs capitalized for the periods presented.
The Company evaluates the recoverability of its deferred and prepaid sales commission balance whenever events or circumstances indicate that the carrying amount of such assets may not be recoverable.