0001514416-23-000048 | 10-K | XBRL Viewer

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Cover - USD ($) $ in Millions	12 Months Ended
Cover - USD ($) $ in Millions	Dec. 31, 2022	Feb. 17, 2023	Jun. 30, 2022
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-38285
Entity Registrant Name	BANDWIDTH INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	56-2242657
Entity Address, Address Line One	900 Main Campus Drive
Entity Address, City or Town	Raleigh
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	27606
City Area Code	(800)
Local Phone Number	808-5150
Title of 12(b) Security	Class A Common Stock, par value $0.001 per share
Trading Symbol	BAND
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 448.3
Documents Incorporated by Reference	Portions of the registrant’s Definitive Proxy Statement for the 2023 Annual Meeting of Stockholders are incorporated herein by reference in Part II and Part III of this Annual Report on Form 10-K to the extent stated herein. Such Definitive Proxy Statement will be filed with the Securities and Exchange Commission within 120 days of the registrant’s fiscal year ended December 31, 2022.
Entity Central Index Key	0001514416
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Amendment Flag	false
Class A voting common stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		23,477,180
Class B voting common stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		1,965,170

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2022
Auditor Information [Abstract]
Auditor Name	Ernst & Young LLP
Auditor Location	Raleigh, NC
Auditor Firm ID	42

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 113,641	$ 331,453
Restricted cash	981	836
Marketable securities	71,231	0
Accounts receivable, net of allowance for doubtful accounts	74,465	61,572
Deferred costs	3,566	3,204
Prepaid expenses and other current assets	15,724	15,820
Total current assets	279,608	412,885
Property, plant and equipment, net	99,753	69,604
Operating right-of-use asset, net	9,993	14,061
Intangible assets, net	177,370	211,217
Deferred costs, non-current	4,938	4,676
Other long-term assets	31,251	8,673
Goodwill	326,405	344,423
Total assets	929,318	1,065,539
Current liabilities:
Accounts payable	26,750	9,142
Accrued expenses and other current liabilities	62,577	65,921
Current portion of deferred revenue	7,181	6,248
Advanced billings	10,049	6,380
Operating	7,450	5,807
Total current liabilities	114,007	93,498
Other liabilities	11,176	6,018
Long-term lease obligations	4,640	10,958
Deferred revenue, net of current portion	8,306	7,634
Deferred tax liability	38,466	48,396
Convertible senior notes	480,546	486,440
Total liabilities	657,141	652,944
Commitments and contingencies
Stockholders’ equity:
Preferred stock; $0.001 par value; 10,000,000 shares authorized; 0 shares issued	0	0
Additional paid-in capital	364,913	502,477
Accumulated deficit	(48,547)	(76,867)
Accumulated other comprehensive loss	(44,214)	(13,040)
Total stockholders’ equity	272,177	412,595
Total liabilities and stockholders’ equity	929,318	1,065,539
Class A voting common stock
Stockholders’ equity:
Class A and Class B common stock	23	23
Class B voting common stock
Stockholders’ equity:
Class A and Class B common stock	$ 2	$ 2

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2022	Dec. 31, 2021	Mar. 16, 2021	Feb. 28, 2020
Preferred stock, par value (in usd per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Class A voting common stock
Common stock, par value (in usd per share)	$ 0.001	$ 0.001	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	23,379,000	23,177,988
Common stock, shares outstanding (in shares)	23,379,000	23,177,988
Class B voting common stock
Common stock, par value (in usd per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	20,000,000	20,000,000
Common stock, shares issued (in shares)	1,965,170	1,965,170
Common stock, shares outstanding (in shares)	1,965,170	1,965,170

Consolidated Statements of Operations - USD ($)	12 Months Ended
Consolidated Statements of Operations - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Revenue	$ 573,152,000	$ 490,907,000	$ 343,113,000
Cost of revenue	334,799,000	277,094,000	189,203,000
Gross profit	238,353,000	213,813,000	153,910,000
Operating expenses:
Research and development	97,990,000	69,505,000	54,555,000
Sales and marketing	96,658,000	82,333,000	61,216,000
General and administrative	68,029,000	64,212,000	51,644,000
Total operating expenses	262,677,000	216,050,000	167,415,000
Operating loss	(24,324,000)	(2,237,000)	(13,505,000)
Other income (expense), net:
Net gain on extinguishment of debt	40,205,000	0	0
Interest expense, net	(3,048,000)	(28,784,000)	(13,672,000)
Other income (expense), net	4,473,000	(174,000)	(1,795,000)
Total other income (expense), net	41,630,000	(28,958,000)	(15,467,000)
Income (loss) before income taxes	17,306,000	(31,195,000)	(28,972,000)
Income tax benefit	2,264,000	3,833,000	(15,005,000)
Net income (loss)	$ 19,570,000	$ (27,362,000)	$ (43,977,000)
Net income (loss) per share:
Basic (in usd per share)	$ 0.77	$ (1.09)	$ (1.83)
Diluted (in usd per share)	$ (0.48)	$ (1.09)	$ (1.83)
Numerator used to compute net income (loss) per share:
Net income (loss) attributable to common stockholders	$ 19,570,000	$ (27,362,000)	$ (43,977,000)
Net loss attributable to common stockholders, diluted	$ (14,897,000)	$ (27,362,000)	$ (43,977,000)
Weighted average number of common shares outstanding:
Weighted average number of common shares outstanding, basic (in shares)	25,282,796	25,090,916	24,092,574
Weighted average number of common shares outstanding, diluted (in shares)	30,907,869	25,090,916	24,092,574

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 19,570	$ (27,362)	$ (43,977)
Other comprehensive income (loss)
Unrealized gain on marketable securities, net of income taxes	314	0	0
Foreign currency translation, net of income taxes	(31,855)	(41,150)	27,900
Unrealized gain on employee benefit plan, net	367	169	0
Other comprehensive income (loss)	(31,174)	(40,981)	27,900
Total comprehensive (loss) income	$ (11,604)	$ (68,343)	$ (16,077)

- Definition

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

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+ Details

Consolidated Statements of Changes in Stockholders’ Equity - USD ($) $ in Thousands	Total	Adjustment to opening retained earnings due to adoption of ASU 2020-06	Class A voting common stock	Class B voting common stock	Common stock Class A voting common stock	Common stock Class B voting common stock	Additional paid-in capital	Additional paid-in capital Adjustment to opening retained earnings due to adoption of ASU 2020-06	Accumulated other comprehensive income (loss)	Accumulated deficit	Accumulated deficit Adjustment to opening retained earnings due to adoption of ASU 2020-06
Beginning balance (in shares) at Dec. 31, 2019					18,584,478	4,927,401
Beginning balance at Dec. 31, 2019	$ 270,090				$ 19	$ 5	$ 275,553		$ 41	$ (5,528)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of debt conversion option	104,553						104,553
Debt conversion option issuance costs, net of tax	(3,742)						(3,742)
Capped call option purchase price	(43,320)						(43,320)
Exercises of vested stock options (in shares)					593,084
Exercises of vested stock options	4,076				$ 1		4,075
Vesting of restricted stock units (in shares)					161,067
Equity awards withheld for tax liability (in shares)					(20,295)
Equity awards withheld for tax liability	(1,916)						(1,916)
Unrealized loss on marketable securities	0
Conversion of Class B voting common stock to Class A voting common stock (in shares)					(2,431,276)	(2,431,276)
Conversion of Class B voting common stock to Class A voting common stock	(2)				$ 1	$ (3)
Equity consideration for Voxbone acquisition (in shares)					663,394
Equity consideration for Voxbone acquisition	106,380				$ 1		106,379
Foreign currency translation	27,900								27,900
Unrealized gain/loss on employee benefit pension plan	0
Stock-based compensation	9,881						9,881
Net loss	(43,977)									(43,977)
Ending balance (in shares) at Dec. 31, 2020					22,413,004	2,496,125
Ending balance at Dec. 31, 2020	429,923				$ 22	$ 2	451,463		27,941	(49,505)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of debt conversion option	66,908						66,908
Debt conversion option issuance costs, net of tax	(2,019)						(2,019)
Capped call option purchase price	(25,500)						(25,500)
Exercises of vested stock options (in shares)					73,985
Exercises of vested stock options	923						923
Vesting of restricted stock units (in shares)					186,502
Equity awards withheld for tax liability (in shares)					(26,458)
Equity awards withheld for tax liability	(3,835)						(3,835)
Unrealized loss on marketable securities	0
Conversion of Class B voting common stock to Class A voting common stock (in shares)					(530,955)	(530,955)
Conversion of Class B voting common stock to Class A voting common stock	1				$ 1	$ 0
Foreign currency translation	(41,150)								(41,150)
Unrealized gain/loss on employee benefit pension plan	169								169
Stock-based compensation	14,537						14,537
Net loss	(27,362)									(27,362)
Ending balance (in shares) at Dec. 31, 2021			23,177,988	1,965,170	23,177,988	1,965,170
Ending balance at Dec. 31, 2021	$ 412,595				$ 23	$ 2	502,477		(13,040)	(76,867)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercises of vested stock options (in shares)	20,468				20,468
Exercises of vested stock options	$ 163						163
Vesting of restricted stock units (in shares)					231,234
Equity awards withheld for tax liability (in shares)					(50,690)
Equity awards withheld for tax liability	(2,134)						(2,134)
Unrealized loss on marketable securities	314								314
Foreign currency translation	(31,855)								(31,855)
Unrealized gain/loss on employee benefit pension plan	367								367
Stock-based compensation	20,655						20,655
Net loss	19,570									19,570
Ending balance (in shares) at Dec. 31, 2022			23,379,000	1,965,170	23,379,000	1,965,170
Ending balance at Dec. 31, 2022	$ 272,177	$ (147,498)			$ 23	$ 2	$ 364,913	$ (156,248)	$ (44,214)	$ (48,547)	$ 8,750
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update	Accounting Standards Update 2020-06

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities
Net income (loss)	$ 19,570	$ (27,362)	$ (43,977)
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Depreciation and amortization	35,599	36,642	16,803
Non-cash reduction to the right-of-use asset	6,977	5,722	4,812
Amortization of debt discount and issuance costs	3,082	26,754	15,647
Stock-based compensation	20,655	14,537	9,881
Deferred taxes and other	(5,557)	(7,486)	14,600
Net gain on extinguishment of debt	(40,205)	0	0
Changes in operating assets and liabilities:
Accounts receivable, net of allowances	(13,341)	(6,711)	(18,832)
Prepaid expenses and other assets	(5,795)	(6,751)	(3,823)
Accounts payable	17,210	1,992	315
Accrued expenses and other liabilities	4,291	9,693	14,393
Operating right-of-use liability	(7,580)	(6,227)	(5,301)
Net cash provided by operating activities	34,906	40,803	4,518
Cash flows from investing activities
Purchase of property, plant and equipment	(41,661)	(17,686)	(12,273)
Deposits for construction in progress	(18,674)	(3,000)	0
Capitalized software development costs	(3,755)	(3,926)	(2,319)
Purchase of land	0	(30,017)	0
Proceeds from sale of land	0	17,462	0
Purchase of marketable securities	(179,598)	0	0
Proceeds from sales and maturities of marketable securities	108,681	0	0
Purchase of other investments	0	0	(230,780)
Proceeds from sales and maturities of other investments	0	40,000	190,780
Proceeds from sale of business	1,558	0	0
Acquisition, net of cash acquired	0	0	(400,493)
Net cash (used in) provided by investing activities	(133,449)	2,833	(455,085)
Cash flows from financing activities
Payments on finance leases	(190)	(212)	(28)
Proceeds from issuance of convertible senior notes	0	250,000	400,000
Net cash paid for debt extinguishment	(117,286)	0	0
Purchase of Capped Call	0	(25,500)	(43,320)
Payment of Acquisition holdback	0	(6,689)	0
Payment of debt issuance costs	(553)	(7,544)	(11,990)
Proceeds from exercises of stock options	163	926	4,073
Value of equity awards withheld for tax liabilities	(2,139)	(3,954)	(1,844)
Net cash (used in) provided by financing activities	(120,005)	207,027	346,891
Effect of exchange rate changes on cash, cash equivalents and restricted cash	881	189	109
Net (decrease) increase in cash, cash equivalents, and restricted cash	(217,667)	250,852	(103,567)
Cash, cash equivalents, and restricted cash, beginning of period	332,289	81,437	185,004
Cash, cash equivalents, and restricted cash, end of period	114,622	332,289	81,437
Supplemental disclosure of cash flow information
Cash paid for interest	18	1,476	579
Cash paid for taxes, net	3,932	1,999	454
Right-of-use assets obtained in exchange for new operating lease liabilities	3,421	526	3,105
Property, plant and equipment obtained in exchange for new finance lease liabilities	0	0	462
Supplemental disclosure of noncash investing and financing activities
Purchase of property, plant and equipment, accrued but not paid	1,741	3,760	6,043
Lease incentive	5,791	4,677	0
Value of common stock issued in acquisition	0	0	106,379
Acquisition holdback	0	0	8,595
Equity awards withheld for tax liabilities, accrued but not paid	121	127	247
Unrealized loss on marketable securities	314	0	0
Acquisition of equipment through finance leases	$ 147	$ 160	$ 113

Organization and Description of Business	12 Months Ended
Organization and Description of Business	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	1. Organization and Description of Business Bandwidth Inc. (together with its subsidiaries, “Bandwidth” or the “Company”) was founded in July 2000 and incorporated in Delaware on March 29, 2001. The Company’s headquarters are located in Raleigh, North Carolina. The Company is an international cloud-based, software-powered communications platform-as-a-service (“CPaaS”) provider that enables enterprises to create, scale and operate voice or messaging communications services across any mobile application or connected device. As a result of certain changes in the Company’s business during the quarter ended March 31, 2022, the Company re-evaluated its segment reporting and determined that one segment was appropriate, rather than the previously reported segments comprising “CPaaS” and “Other”. The primary drivers for this change were the Company’s strategic alignment of its operating departments and the sale of legacy assets. All previously reported segment information has been recast to conform with the one segment structure.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

2. Summary of Significant Accounting Policies

Basis of Presentation

The consolidated financial statements and accompanying notes were prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).

Cost Alignment

During the quarter ended March 31, 2022, the Company changed its presentation of certain costs to align with benchmarked definitions of cost of revenue, research and development, sales and marketing, and general and administrative expenses. As part of the benchmarked definitions, the Company has included allocations of facilities and shared IT costs based on employee headcount within the cost of revenue, research and development, sales and marketing, and general and administrative expense categories. Additionally, the product management function is now included in research and development rather than general and administrative as previously reported and the customer billing and collections function and the amortization of acquired customer relationship intangible assets are now included in sales and marketing rather than general and administrative as previously reported. Management believes use of the benchmarked definitions will increase comparability to peers and therefore usability of its financial statements.

All periods presented have been conformed to the current definitions of cost of revenue, research and development, sales and marketing, and general and administrative expenses. There was no impact to revenue or net income for any periods presented due to the change in presentation. The consolidated balance sheets, consolidated statements of changes in stockholders’ equity and consolidated statements of cash flows are not affected by these changes.

The following is a comparison of the change in costs to the prior period:


	Year ended December 31, 2021			Year ended December 31, 2020
		As reported		As previously reported		As reported		As previously reported

		(In thousands)
Statement of Operations
Cost of revenue		$	277,094	$	272,384	$	189,203	$	185,252
Research and development		69,505		55,173		54,555		42,059
Sales and marketing		82,333		51,817		61,216		40,552
General and administrative		64,212		113,770		51,644		88,755

Reclassification

The Company reclassified certain prior year amounts to conform to the current year presentation. These reclassifications had no impact on the previously reported total assets, liabilities, stockholder’s deficit or net income.

Principles of Consolidation

The consolidated financial statements include the accounts of Bandwidth Inc. and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.

Use of Estimates

The preparation of the Company’s consolidated financial statements in conformity with GAAP requires the Company to make estimates and judgments that affect the amounts reported in these financial statements and accompanying notes. These estimates in the consolidated financial statements include, but are not limited to, allowance for doubtful accounts, reserve for expected credit losses, reserve for sales credits, recoverability of long lived and intangible assets, fair value of acquired intangible assets and goodwill, discount rates used in the valuation of right-of-use assets and lease liabilities, the fair value of the liability and equity components of the Company’s Convertible Notes (as defined herein), estimated period of benefit, valuation allowances on deferred tax assets, certain accrued expenses and contingencies, economic and demographic actuarial assumptions related to pension and other postretirement benefit costs and liabilities. Although the Company believes that the estimates it uses are reasonable, due to the inherent uncertainty involved in making these estimates, actual results reported in future periods could differ from those estimates.

Revenue Recognition

Revenue recognition commences upon transfer of control of promised goods or services to customers in an amount that the Company expects to receive in exchange for those products or services.

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.

Nature of Products and Services

Revenue consists primarily of the sale of communications services offered through Application Programming Interface (“API”) software solutions to large enterprise, as well as small and medium-sized business, customers and is generally derived from usage and service fees. Usage revenue includes voice communication (primarily driven by inbound minutes, outbound minutes and toll-free minutes) and messaging communication (driven by the number of messages) that traverse the platform and network. Service fees include the provision and management of phone numbers and emergency services access.

The majority of the Company’s revenue is generated from reoccurring fees earned from customers accessing and using the Company’s communications platform. Access to the Company’s communication platform is considered a series of distinct services with continuous transfer of control to the customer, comprising one performance obligation. Reoccurring fees are recognized in revenue in the period the traffic traverses the Company’s network. For the years ended December 31, 2022, 2021 and 2020, the revenue from reoccurring fees represented $445.7 million, $392.5 million, and $260.6 million of total revenue, respectively.

Revenue from recurring fees is recognized on a ratable basis as the service is provided, which is typically one month. For the years ended December 31, 2022, 2021 and 2020, the revenue from recurring fees represented $116.9 million, $91.1 million and $76.5 million of total revenue, respectively.

The remaining $10.6 million, $7.3 million, and $6.0 million of revenue for the years ended December 31, 2022, 2021 and 2020, respectively, are generated from other miscellaneous services.

Infrequently, Bandwidth’s contracts with customers may include multiple performance obligations. For such arrangements, revenues are allocated to each performance obligation based on its relative standalone selling price. Generally, standalone selling prices are determined based on the prices charged to similar customers for similar services.

When required as part of providing service, revenues and associated expenses related to nonrefundable, upfront service activation and setup fees are deferred and recognized over the longer of the associated service contract period or estimated customer life.

The Company’s contracts do not contain general rights of return. However, occasionally credits may be issued. The Company’s contracts do not provide customers with the right to take possession of the software supporting the applications. Amounts that have been invoiced are recorded in accounts receivable and in revenue or deferred revenue depending on whether the revenue recognition criteria have been met.

The Company maintains a reserve for sales credits. Credits are accounted for as variable consideration and are estimated based on several inputs including historical experience and current trends of credit issuances. Adjustments to the reserve are recorded against revenue.

The Company has various sales commission plans for which eligible employees can earn commissions from the sale of products and services to customers. Eligible employees must be employed at the time of payment in order to receive a commission. The Company pays commissions over time and a corresponding requisite substantive service condition exists for the employee to receive the commission. The Company determined that the timing of the commission payments and the underlying service performed by the employee were commensurate. Accordingly, sales commissions are generally expensed as incurred. These costs are recorded within sales and marketing expenses.

Contract Assets and Liabilities

The following table provides information about receivables and contract liabilities from contracts with customers:


	As of December 31,
	2022		2021

	(In thousands)
Receivables (1)	$	74,465	$	61,572
Contract liabilities (2)	15,487		13,882

________________________

(1) Included in accounts receivable, net of allowance for doubtful accounts on the consolidated balance sheets.

(2) Included in current portion of deferred revenue and deferred revenue, net of current portion on the consolidated balance sheets.

Deferred revenue is recorded when cash payments are received in advance of future usage on contracts. Revenue is typically recognized in the following month when service is rendered or, in the case of nonrefundable upfront fees, over the estimated period of benefit from the date the fee is incurred by the customer. Customer refundable payments are recorded as advanced billings. During the year ended December 31, 2022, the Company recognized revenue of $5.7 million related to contract liabilities recorded at the beginning of the year. The Company expects to recognize $7.2 million in revenue over the next 12 months related to its contract liabilities as of December 31, 2022.

Cost of Revenue

Cost of revenue consists of fees paid to other network service providers, network operations costs, personnel costs, allocated costs of facilities and information technology, amortization of acquired technology intangibles and depreciation.

Fees paid to other network service providers arise when the Company purchases services such as minutes of use, phone numbers, messages, porting of customer numbers and network circuits.

Network operations costs are incurred for web services and cloud infrastructure, capacity planning and management, software licenses, hardware and software maintenance fees, customer support and network-related facility rents.

Personnel costs (including non-cash stock-based compensation expenses) arise for employees who are responsible for the delivery of services, and operations and maintenance of, the communications network.

Operating Expenses

Research and Development

Research and development expenses consist of salaries and related personnel costs for the design, development, testing and enhancement of our cloud network and software products. Research and development expenses include depreciation and allocated costs for facilities and information technology utilized by our research and development staff.

Sales and Marketing

Sales and marketing expenses consist of salaries and related personnel costs, commissions, and costs related to advertising, marketing, brand awareness activities, sales support and professional services fees, and customer billing and collections functions. Sales and marketing expenses include depreciation, amortization of acquired

customer relationship intangible assets, and allocated costs of facilities and information technology utilized by our sales and marketing staff.

General and Administrative

General and administrative expenses consist of salaries and related personnel costs for accounting, legal, human resources, corporate, and other administrative and compliance functions. General and administrative expenses include depreciation, expenditures for third party professional services, and allocated costs of facilities and information technology utilized by our corporate and administrative staff.

Cash and Cash Equivalents

The Company classifies all highly liquid investments with original stated maturities of three months or less from the date of purchase as cash equivalents. All highly liquid investments with original stated maturities of greater than three months from the date of purchase are classified as current marketable securities. Cash deposits are primarily in financial institutions in the United States. However, cash for monthly operating costs of international operations are deposited in banks outside the United States. The Company has a policy of making investments only with commercial institutions that have at least an investment grade credit rating. The Company utilizes money market funds as an investment option and only invests in AAA rated funds.

Restricted Cash

Restricted cash consists primarily of employee withholding tax liability and employee benefits contributions not yet remitted. The Company has classified this asset as a short-term asset in order to match the expected period of restriction.

Marketable Securities

The Company’s marketable securities consist of time deposits, U.S. treasury debt securities, commercial paper, and corporate debt securities. The Company classifies marketable securities as available-for-sale at the time of purchase and reevaluates such classification as of each balance sheet date. The Company may sell these securities at any time for use in current operations even if they have not yet reached maturity. As a result, the Company classifies investments with maturities greater than 90 days as marketable securities in the accompanying consolidated balance sheets. Available-for-sale securities are recorded at fair value at the end of each reporting period. Unrealized gains and losses are excluded from earnings and recorded as a separate component within accumulated other comprehensive loss on the consolidated balance sheets until realized. Interest income is reported within other income (expense), net on the consolidated statements of operations. The Company evaluates its investments to assess whether the amortized cost basis is in excess of estimated fair value and determines what amount of that difference, if any, is caused by expected credit losses. Allowance for credit losses are recognized as a charge in other income (expense), net on the consolidated statements of operations, and any remaining unrealized losses are included in accumulated other comprehensive loss on the consolidated balance sheets. Due to the nature and investment grade of the Company’s marketable securities, there were no credit losses recorded for the year ended December 31, 2022. There have been no impairment charges for any unrealized losses during the period. The Company determines realized gains and losses on the sale of marketable securities using the specific identification method and records such gains and losses in other income (expense), net on the consolidated statements of operations.

Accounts Receivable and Current Expected Credit Losses

Accounts receivable are stated at realizable value, net of allowances, which includes an allowance for doubtful accounts and a reserve for expected credit losses. The allowance for doubtful accounts is based on management’s assessment of the collectability of its customer accounts. The Company regularly reviews the composition of the accounts receivable aging, historical bad debts, changes in payment patterns, customer creditworthiness, current economic trends, and reasonable and supportable forecasts about the future. Relevant risk

The Company includes unbilled receivables in its accounts receivable balance. Generally, these receivables represent earned revenue from services provided to customers, which will be billed in the next billing cycle. All amounts are considered collectible and billable. As of December 31, 2022 and 2021, unbilled receivables were $33.9 million and $31.8 million, respectively.

Concentration of Credit Risk

Financial instruments that are exposed to concentration of credit risk consist primarily of cash and cash equivalents, marketable securities and trade accounts receivable. Cash deposits may be in excess of insured limits. The Company believes that the financial institutions that hold its cash deposits are financially sound and, accordingly, minimal credit risk exists with respect to these balances.

With regard to customers, credit evaluation and account monitoring procedures are used to minimize the risk of loss. The Company believes that no additional credit risk beyond amounts provided for by the allowance for doubtful accounts are inherent in accounts receivable. As of December 31, 2022, no individual customer represented more than 10% of the Company’s accounts receivable, net of allowance for doubtful accounts. As of December 31, 2021, one individual customer represented approximately 10% of the Company’s accounts receivable, net of allowance for doubtful accounts.

For the years ended December 31, 2022, 2021 and 2020, no individual customer represented more than 10% of the Company’s revenue.

Property, Plant and Equipment, net

Property, plant and equipment, net is stated at cost, less accumulated depreciation and amortization. Depreciation and amortization is calculated on a straight-line basis over the estimated useful lives of those assets as follows:


Computer hardware and software			1 to 7 years
Internal-use software development costs			4 to 7 years
Furniture and fixtures			2 to 5 years
Land			Indefinite
Leasehold improvements			Shorter of the estimated lease term or 4 to 7 years

Maintenance and repairs are charged to expense as incurred.

Deferred Costs

The Company defers certain direct and incremental upfront costs related to the generation of a revenue stream or obtaining a new customer agreement. These costs include installment fees, activation and other telecommunication fees. The Company capitalizes these costs and amortizes them over the longer of the term of the customer contract or the estimated period of benefit, which is approximately four years.

Internal-Use Software Development Costs

Internal-use software includes software that has been acquired, internally developed, or modified exclusively to meet the Company’s needs. The Company capitalizes qualifying internal-use software development costs that are incurred during the application development stage. Capitalization of costs begins when two criteria are

met: (i) the preliminary project stage is completed, and (ii) it is probable that the software will be completed and used for its intended function. Capitalization ceases when the software is substantially complete and ready for its intended use, including the completion of all significant testing. The Company also capitalizes costs related to specific upgrades and enhancements when the expenditures will result in additional functionality, and expenses costs incurred for maintenance and minor upgrades and enhancements. Costs related to preliminary project activities and post-implementation operating activities are expensed as incurred.

Capitalized costs of platform and other software applications are included in property, plant and equipment, net. These costs are amortized over the estimated useful life of the software on a straight-line basis over four to seven years. Management evaluates the useful life of these assets on an annual basis and tests for impairment whenever events or changes in circumstances occur that could impact the recoverability of these assets.

Debt Issuance Costs

The Company incurs debt issuance costs associated with obtaining and entering into credit agreements and issuing convertible notes. These costs customarily include non-refundable structuring fees, commitment fees, up-front fees and syndication expenses. The Company has a policy of deferring and amortizing these costs based on the effective interest method over the term of the credit agreements or the convertible notes, as applicable.

Amortization of Intangibles

Intangible assets determinable economic lives are carried at cost, less accumulated amortization. Amortization is computed over the estimated useful life of each asset on a straight-line basis. The Company determines the useful lives of identifiable intangible assets after considering the specific facts and circumstances related to each intangible asset. Factors the Company considers when determining useful lives include the contractual term of any agreement related to the asset, the historical performance of the asset, the Company's long-term strategy for using the asset, any laws or other local regulations which could impact the useful life of the asset and other economic factors, including competition and specific market conditions. Intangible assets without determinable economic lives are carried at cost, not amortized and reviewed for impairment at least annually. Refer to Note 7, “Goodwill and Intangible Assets” to these consolidated financial statements, for the useful lives of the Company's intangible assets as of December 31, 2022 and 2021.

Goodwill

In accordance with Accounting Standards Codification 350, “Intangibles - Goodwill and Other” (“ASC 350”), goodwill is not amortized, but rather is reviewed for impairment at the reporting unit level on the last day of the Company’s fourth quarter of each fiscal year, or when there is evidence that events or changes in circumstances indicate that the fair value of the reporting unit is less than the carrying amount of the reporting unit, including goodwill.

The Company establishes its reporting units based on its current organizational structure and management’s view of the business. The Company has determined it has one reporting unit.

Under ASC 350, the Company has the option to first assess qualitatively whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount, including goodwill. In performing qualitative assessments, consistent with ASC 350-20-35-3C, the Company considers, among other factors, macroeconomic conditions (both in the United States and internationally), the Company’s overall financial performance (including, but not limited to, comparisons to prior periods, current period internal expectations, and comparable peer companies), broader industry and market considerations, and the trading price performance of the Company’s Class A common stock.

As of December 31, 2022, the Company completed its annual qualitative assessment under ASC 350 to determine whether the existence of events or circumstances indicated that it was more likely than not that the fair value of its reporting unit was less than its respective carrying value. The Company concluded that based on the

relevant events and circumstances, it was more likely than not that the reporting unit’s fair value exceeded its related carrying value and therefore no quantitative assessment was required. No goodwill impairment charges were recorded for the years ended December 31, 2022, 2021 and 2020.

Impairment of Long-Lived Assets

The Company evaluates long-lived assets, including property, plant and equipment and definite lived intangible assets, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets held and used is measured by a comparison of the carrying amount of an asset or an asset group to estimated undiscounted future net cash flows expected to be generated by the asset or asset group. If such evaluation indicates that the carrying amount of the asset or the asset group is not recoverable, any impairment loss would be equal to the amount the carrying value exceeds the fair value.

Business Combinations

The Company uses the acquisition method of accounting for business combinations which requires the tangible and intangible assets acquired and liabilities assumed to be recorded at their respective fair market value as of the acquisition date. Goodwill represents the excess of the consideration transferred over the fair value of the net assets acquired. The fair values of the assets acquired and liabilities assumed are determined based upon the Company’s valuation and involves making significant estimates and assumptions based on facts and circumstances that existed as of the acquisition date. The Company uses a measurement period following the acquisition date to gather information that existed as of the acquisition date that is needed to determine the fair value of the assets acquired and liabilities assumed. The measurement period ends once all information is obtained, but no later than one year from the acquisition date.

On November 2, 2020, the Company acquired all shares of Voice Topco Limited through a Share Purchase Agreement (“SPA”). During the year ended December 31, 2021, the Company made measurement period adjustments to reflect facts and circumstances in existence as of October 31, 2020, the effective date of the SPA (the “Effective Date”). The adjustments primarily related to certain state and local tax liabilities as well as an adjustment related to the finalization of the net working capital adjustment, which were not reasonably estimable at the Effective Date and consisted of a $1.0 million increase to goodwill and $1.0 million increase to accrued expense and other current liabilities. Additionally in 2021 and in accordance with the SPA, the Company paid the selling stockholders $7.6 million, which included $7.4 million of the amount held in escrow as a holdback amount and $0.2 million in interest earned from the escrow.

Advertising Costs

The Company expenses advertising costs as incurred. Advertising costs totaled $1.5 million, $1.8 million and $1.6 million for the years ended December 31, 2022, 2021 and 2020, respectively, which are included in sales and marketing expenses in the accompanying consolidated statements of operations.

Commissions

Commissions consist of variable compensation earned by sales personnel and third-party resellers. Sales commissions associated with the acquisition of a new customer contract are paid over time, based on monthly revenues, and are recognized as sales and marketing expense in the period incurred.

Stock-Based Compensation

The Company accounts for stock-based compensation expense related to all stock-based awards based on the fair value of the award on the grant date. Stock-based compensation expense is recognized on a straight-line basis over the requisite service period, which is generally three or four years. The fair value of the restricted stock units is determined using the fair value of the Company’s Class A common stock on the date of grant. The Company uses the Black-Scholes option pricing model, net of estimated forfeitures, to measure the fair value of its stock options.

The Company has elected to estimate expected forfeitures, and, as such, the Company must also determine a forfeiture rate to calculate the stock-based compensation expense for awards. Through December 31, 2022, the Company recognized compensation expense for only the portion of restricted stock units expected to vest using an estimated forfeiture rate that was derived from historical employee termination behavior. As of December 31, 2022, all outstanding stock options are fully vested.

Income Taxes

The Company accounts for income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are determined based on temporary differences between the financial statement and tax basis of assets and liabilities using enacted tax rates. The Company recognizes the effect of a change in tax rates on deferred tax assets and liabilities in the period that includes the enactment date.

The Company reduces the measurement of a deferred tax asset, if necessary, by a valuation allowance if it is more likely than not that it will not realize some or all the deferred tax asset. Quarterly, the Company reviews the deferred tax assets for recoverability based on historical taxable income, projected future taxable income, the expected timing of the reversals of existing temporary differences and the implementation of prudent and feasible tax planning strategies. The evaluation of the recoverability of deferred tax assets requires judgment in assessing future profitability. Should there be a change in the ability to recover deferred tax assets, the Company’s income tax provision would increase or decrease in the period in which the assessment is changed.

The Company accounts for uncertain tax positions by recognizing the financial statement effects of a tax position only when, based upon technical merits, it is more likely than not that the position will be sustained upon examination. The tax benefit recognized is measured as the largest amount of benefit determined on a cumulative probability basis that the Company believes is more likely than not to be realized upon ultimate settlement of the position. The Company recognizes potential accrued interest and penalties associated with unrecognized tax positions in income tax expense.

Operating Segments

Operating segments are defined as components of an enterprise for which separate financial information is available and evaluated regularly by the chief operating decision maker in deciding how to make operating decisions, allocate resources and in assessing performance. The Company’s chief operating decision maker is its Chief Executive Officer, who evaluates the Company's financial information on a consolidated basis. Accordingly, the Company has determined that it operates in one operating segment.

Earnings per Share

Basic earnings per share attributable to common stockholders is calculated by dividing the net income attributable to common stockholders by the weighted-average number of shares of common stock outstanding for the period.

Diluted net income per share is calculated by giving effect to all potentially dilutive common stock when determining the weighted-average number of common shares outstanding. For purposes of the diluted net income (loss) per share calculation, options to purchase common stock, restricted stock units and redeemable convertible preferred stock are considered to be potential common stock.

Foreign currency translation

The Company has foreign operations with non-USD functional currencies. The Euro and British Pound are the primary functional currencies for the Company’s international operations.

All of the assets and liabilities of these subsidiaries are translated to U.S. dollars at the exchange rate in effect at the balance sheet date, and equity accounts are translated at historical exchange rates. Revenue and expenses are translated at average exchange rates in effect during each reporting period. The net effect of currency

translation adjustments is included in shareholder’s equity as a component of accumulated other comprehensive loss in the accompanying consolidated balance sheets.

Foreign currency transaction gains and losses are realized upon cash settlement of transactions denominated in currencies others than the functional currency. They result from exchange rate changes during the period of time between the consummation and cash settlement of such transactions. When realized, foreign currency transaction gains and losses are recognized in current period earnings as incurred. The Company recorded $0.2 million in related gains during the year ended December 31, 2022 and less than $0.1 million in related losses in each of the years ended December 31, 2021 and 2020 included in other income (expense), net in the Company's consolidated statements of operations.

Unrealized gains and losses result from the process of remeasuring foreign currency assets and liabilities into the appropriate functional currency at exchange rates in place as of the reporting date. Unrealized gains and losses are reported net in foreign currency translation on the accompanying consolidated statements of comprehensive loss.

Fair Value of Financial Instruments

The Company minimizes its credit risk associated with investments by investing primarily in investment grade, liquid securities. The Company policy is designed to preserve capital, maintain liquidity and minimize credit risk, and the policy limits exposure to any one issuer and also establishes minimum credit ratings of approved investments. Periodic evaluations of relative credit standing of those issuers are considered in the Company's investment strategy.

The Company uses a three-tier fair value hierarchy to classify and disclose all assets and liabilities measured at fair value on a recurring basis, as well as assets and liabilities measured at fair value on a non-recurring basis, in periods subsequent to their initial measurement. The hierarchy requires use of observable inputs when available, and to minimize the use of unobservable inputs when determining fair value. The three tiers are defined as follows:

•Level 1. Observable inputs based on unadjusted quoted prices in active markets for identical assets or liabilities;

•Level 2. Inputs, other than quoted prices in active markets, that are observable either directly or indirectly; and

•Level 3. Unobservable inputs for which there is little or no market data, which requires the Company to develop its own assumptions.

A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement.

Comprehensive Loss

The Company has elected to present comprehensive loss and its components as a separate financial statement. Comprehensive income refers to net income and other revenue, expenses, gains and losses that, under

generally accepted accounting principles, are recorded as an element of stockholders’ equity but are excluded from the calculation of net income.

Recently Adopted Accounting Standards

In August 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40) (“ASU 2020-06”), which is intended to address issues identified as a result of the complexity associated with applying GAAP for certain financial instruments with characteristics of liabilities and equity. For convertible instruments, ASU 2020-06 reduces the number of accounting models for convertible debt instruments and convertible preferred stock, and enhances information transparency by making targeted improvements to the disclosures for convertible instruments and EPS guidance on the basis of feedback from financial statement users. ASU 2020-06 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2021. Early adoption was permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The Company adopted the new guidance on January 1, 2022 using the modified retrospective approach resulting in decreases in accumulated deficit of $8.8 million, additional paid in capital of $156.2 million, and deferred tax liability of $1.0 million. The Company also recorded an increase in the Convertible Notes balance of $148.4 million as a result of the reversal of the separation of the convertible debt between debt and equity. The adoption of this standard decreased the amount of non-cash interest expense to be recognized in current and future periods as a result of eliminating the discount associated with the equity component. For the year ended December 31, 2022, the combined interest expense of the Convertible Notes was $27.5 million lower upon the adoption of ASU 2020-06. The number of diluted shares increased as a result of transitioning from the treasury stock method to the as-if converted method which impacted the earnings per share for the year ended December 31, 2022. The transition did not impact the years ended December 31, 2021 and 2020, as the Company incurred a net loss in both reporting periods.

In May 2021, the FASB issued Accounting Standards Update 2021-04, Earnings Per Share (Topic 260), Debt —Modifications and Extinguishments (Subtopic 470-50), Compensation--Stock Compensation (Topic 718), and Derivatives and Hedging--Contracts in Entity’s Own Equity (Subtopic 815-40) (“ASU 2021-04”), which is intended to provide clarity surrounding the treatment for a modification or an exchange of a freestanding equity-classified written call option. The amendments also provide guidance for the recognition and measurement of earnings-per-share (“EPS”) for certain modifications or exchanges of freestanding equity-classified written call options for entities that present EPS. The amendments do not affect a holder’s accounting for freestanding call options. ASU 2021-04 is effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption was permitted, including adoption in an interim period. The Company adopted the new guidance on January 1, 2022. The Company did not have any modifications or exchanges of freestanding written call options classified in equity during the reporting period and therefore did not have an impact on its financial statements.

Recent Accounting Pronouncements Not Yet Adopted

The Company did not have any applicable recent accounting pronouncements not yet adopted.

Fair Value Measurements

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Fair Value Measurements

3. Fair Value Measurements

The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable and accrued expenses approximate fair value as of December 31, 2022 and 2021 because of the relatively short duration of these instruments. Marketable securities consist of time deposits, corporate debt securities, U.S. treasury securities, and commercial paper not otherwise classified as cash equivalents. All marketable securities are considered to be available-for-sale and are recorded at their estimated fair values. Unrealized gain and losses for available-for-sale securities are recorded in other comprehensive loss.

The Company evaluated its financial assets and liabilities subject to fair value measurements on a recurring basis to determine the appropriate level in which to classify them for each reporting period.

The following tables summarize the assets measured at fair value as of December 31, 2022 and 2021:


	Amortized cost or carrying value		Unrealized gains		Unrealized losses		Fair value measurements on a recurring basis December 31, 2022
							Level 1		Level 2		Level 3		Total

	(In thousands)
Financial assets:
Cash and cash equivalents:
Money market account	$	36,728	$	—	$	—	$	36,728	$	—	$	—	$	36,728





Commercial paper	28,254		—		—		28,254		—		—		28,254

Total included in cash and cash equivalents	$	64,982	$	—	$	—	$	64,982	$	—	$	—	$	64,982
Marketable securities:
Time deposits	$	6,645	$	—	$	(15)	$	6,630	$	—	$	—	$	6,630
U.S. treasury securities	14,718		74		—		14,792		—		—		14,792
Corporate debt securities	23,412		—		(97)		—		23,315		—		23,315
Commercial paper	26,142		352		—		26,494		—		—		26,494
Total marketable securities	$	70,917	$	426	$	(112)	$	47,916	$	23,315	$	—	$	71,231



Total financial assets	$	135,899	$	426	$	(112)	$	112,898	$	23,315	$	—	$	136,213


				Fair value measurements on a recurring basis December 31, 2021
	Level 1	Level 2	Level 3	Total

				(In thousands)
Financial assets:
Cash and cash equivalents:
Money market account				$	241,157	$	—	$	—	$	241,157











Total financial assets				$	241,157	$	—	$	—	$	241,157

The Company classifies its marketable securities as current assets as they are available for current operating needs. The following table summarizes the contractual maturities of marketable securities as of December 31, 2022:


	Amortized cost		Aggregate fair value

	(In thousands)
Financial assets:
Less than one year	$	70,917	$	71,231

Total	$	70,917	$	71,231

As of December 31, 2022, the marketable securities were in an unrealized gain position. The Company has determined that (i) it does not have the intent to sell any of these investments and (ii) it is not more likely than not that it will be required to sell any of these investments before recovery of the entire amortized cost basis. As of December 31, 2022, the Company anticipates that it will recover the entire amortized cost basis of its marketable securities before maturity.

During the year ended December 31, 2022, there were $74.3 million in maturities of marketable securities. There were no maturities in marketable securities during the years ended December 31, 2021 and 2020.

Proceeds from sales of marketable securities were $34.4 million for the year ended December 31, 2022. There were no sales in marketable securities during the years ended December 31, 2021 and 2020.

Interest earned on marketable securities was $1.2 million for the year ended December 31, 2022. There was no interest earned on marketable securities during the years ended December 31, 2021 and 2020. The interest is recorded in other income (expense), net, on the accompanying consolidated statements of operations. As of December 31, 2022, the accrued interest receivable, net of allowance for credit losses, was $0.3 million. Accrued interest receivable is recorded in prepaid expenses and other current assets on the accompanying consolidated balance sheet.

As of December 31, 2022, the fair value of the 2026 Convertible Notes and 2028 Convertible Notes, as further described in Note 8, “Debt,” to these consolidated financial statements, was approximately $180.9 million and $156.5 million, respectively. As of December 31, 2021, the fair value of the 2026 Convertible Notes and the 2028 Convertible Notes was approximately $427.1 million and $194.2 million, respectively. The fair value was determined based on the closing price for the Convertible Notes on the last trading day of the reporting period and is considered as Level 2 in the fair value hierarchy.

As of the years ended December 31, 2022 and 2021, the fair value of the Pension Plan’s assets, as further described in Note 13, “Employee Benefit Plans,” to these consolidated financial statements, was approximately $3.2 million and $3.0 million, respectively. The fair value was determined by an independent actuary and is considered as Level 2 in the fair value hierarchy.

The Company monitors the availability of observable market data to assess the appropriate classification of financial instruments within the fair value hierarchy. Changes in economic conditions or model-based valuation techniques may require the transfer of financial instruments from one fair value level to another. In such instances, the transfer is reported at the beginning of the reporting period. There were no transfers between Levels 1, 2 or 3 during the years ended December 31, 2022 and 2021.

The money market account is included in cash and cash equivalents in the consolidated balance sheets as of December 31, 2022 and 2021.

- 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 + Details

Financial Statement Components

12 Months Ended

Dec. 31, 2022

Financial Statement Components [Abstract]

Financial Statement Components

4. Financial Statement Components

Accounts receivable, net of allowances consist of the following:


	As of December 31,
	2022		2021

	(In thousands)
Trade accounts receivable	$	40,332	$	31,036
Unbilled accounts receivable	33,863		31,786
Allowance for doubtful accounts and reserve for expected credit losses	(1,191)		(1,661)
Other accounts receivable	1,461		411
Total accounts receivable, net	$	74,465	$	61,572

Components of allowance for doubtful accounts and reserve for expected credit losses are as follows:


	Year ended December 31,
		2022		2021

		(In thousands)
Allowance for doubtful accounts:
Balance, beginning of period		$	(1,661)	$	(1,203)
Charged to bad debt expense, net of reversals		(543)		(913)
Deductions (1)		983		416
Impact of foreign currency translation		30		39



Balance, end of period		$	(1,191)	$	(1,661)

________________________

(1) Write-off of uncollectible accounts after all collection efforts have been exhausted.

Accrued expenses and other current liabilities consisted of the following:


	As of December 31,
	2022		2021

	(In thousands)
Accrued expense	$	29,990	$	31,264
Accrued compensation and benefits	21,595		19,042
Accrued sales, use, VAT and telecommunications related taxes	7,799		11,046

Current portion of finance lease	143		177

Income tax payable	2,235		3,420
Other accrued expenses	815		972
Total accrued expenses and other current liabilities	$	62,577	$	65,921

Right-of-Use Asset and Lease Liabilities

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Right-of-Use Asset and Lease Liabilities

5. Right-of-Use Asset and Lease Liabilities

Right-of-use (“ROU”) assets represent the Company’s right to use an underlying asset for the lease term, and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. The Company determines if an arrangement is a lease at inception. ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. Operating lease expense attributable to lease payments is recognized on a straight-line basis over the lease term and is part of allocated facilities costs based on employee headcount within the cost of revenue, research and development, sales and marketing, and general and administrative expense categories on the Company’s consolidated statements of operations. Finance leases result in the recognition of depreciation expense, which is recognized on a straight-line basis over the expected life of the leased asset, and interest expense, which is recognized following an effective interest rate method. Depreciation expense attributable to finance leases is included in operating expenses on the Company’s consolidated statements of operations. The Company presents the operating leases in long-term assets and current and long-term liabilities in the accompanying consolidated balance sheets. Finance leases are reported in property, plant and equipment, net, accrued expenses and other current liabilities, and other liabilities on the Company’s consolidated balance sheets.

The Company has entered into various operating lease agreements for office space and finance lease agreements for automobiles.

The Company previously sub-leased approximately 17,073 square feet of office space to a related party, Relay, Inc. (f/k/a Republic Wireless, Inc.) (“Relay”). The lease term under this non-cancellable lease expired in July 2022.

As of December 31, 2022, the Company had various leased properties in the United States and internationally, with remaining lease terms of five months to 4 years, some of which include options to extend the leases for up to 5 years. None of the options to extend the leases are recognized in operating lease ROU assets or lease liabilities. The Company has one lease with an early-termination option, which it does not expect to exercise.

The components of lease expense recorded in the consolidated statement of operations were as follows:


	Year ended December 31,
		2022		2021		2020

		(In thousands)
Operating lease cost		$	7,750	$	6,818	$	5,949
Finance lease cost:
Depreciation of assets		183		218		20
Interest on lease liabilities		14		18		2


Sublease income		(206)		(384)		(384)
Total net lease cost		$	7,741	$	6,670	$	5,587

During the years ended December 31, 2022, 2021 and 2020, short-term operating lease expense was $0.6 million, $1.3 million, and $0.2 million, respectively.

Supplemental balance sheet information related to leases was as follows:


		As of December 31,
Leases	Classification	2022		2021

		(In thousands)
Assets:
Operating lease assets	Operating right-of-use asset, net (1)	$	9,993	$	14,061
Finance lease assets	Property, plant and equipment, net (2)	307		373
Total leased assets		$	10,300	$	14,434

Liabilities:
Current
Operating	Operating lease liability, current	$	7,450	$	5,807
Finance	Accrued expenses and other current liabilities	143		177
Non-current
Operating	Operating lease liability, net of current portion	4,640		10,958
Finance	Other liabilities	172		202
Total lease liabilities		$	12,405	$	17,144

________________________

(1) Operating lease assets are recorded net of accumulated amortization of $17.7 million and $14.8 million as of December 31, 2022 and 2021, respectively.

(2) Finance lease assets are recorded net of accumulated depreciation of $0.3 million and $0.2 million as of December 31, 2022 and 2021, respectively.

Supplemental cash flow and other information related to leases was as follows:


	Year ended December 31,
		2022			2021			2020

		(In thousands)
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases		$	7,580		$	6,227		$	5,301

Financing cash flows from finance leases		190			212			28
		$	7,770		$	6,439		$	5,329

Weighted average remaining lease term (in years)
Operating leases		2.12			2.95			3.79
Finance leases		2.53			2.44			2.99

Weighted average discount rate
Operating leases		4.58		%	4.78		%	4.81		%
Finance leases		5.48		%	3.91		%	4.00		%

Maturities of lease liabilities were as follows:


	As of December 31, 2022

	Operating Leases		Finance Leases

	(In thousands)

2023	$	7,809	$	162
2024	2,614		104
2025	1,587		51
2026	655		21


Total lease payments	12,665		338
Less: imputed interest	(575)		(23)

Total lease obligations	12,090		315
Less: current obligations	(7,450)		(143)
Long-term lease obligations	$	4,640	$	172

Future Corporate Headquarters

On June 4, 2021, the Company purchased approximately 40 acres of undeveloped land (the “Property”) in Raleigh, North Carolina, from the State of North Carolina (the “State”) for $30.0 million. Additionally, as consideration for the Property, the Company agreed to construct, at its expense, a parking lot and related improvements (the “Parking Improvements”) on land owned by the State adjacent to the Property. Subsequent to the purchase of the Property, the Company sold a portion of the Property constituting approximately 23.76 acres (the “Conveyed Parcel”) to USEF Edwards Mill Owner, LLC (the “Developer”) for $17.5 million. The Company retained approximately 17.06 acres of the Property, which was recorded at cost and is included in the Company’s consolidated balance sheets as a component of property, plant and equipment, net. A lease incentive was recognized for the difference between the consideration received from the Developer for the Conveyed Parcel and the cost basis of the Conveyed Parcel and is included as a component of other liabilities on the consolidated balance sheets. As of

December 31, 2022, the balance of the lease incentive, including additional incentives obtained during project development, was $10.5 million.

On May 27, 2021, the Company entered into a Lease Agreement (the “Lease”) with the Developer for the Conveyed Parcel, together with improvements for office and related infrastructure to be constructed thereon, collectively constituting approximately 534,000 gross square feet (the “Project”). The lease became effective upon closing of the sale of the Conveyed Parcel to the Developer. When construction of the Project is completed, the Company intends to relocate its corporate headquarters to the Project. The lease term will commence upon substantial completion of the final building to be delivered, as evidenced by a certificate of occupancy issued by the City of Raleigh (the “Commencement Date”), and continue for a period of twenty (20) years (the “Initial Term”). It is anticipated that the Commencement Date will occur in mid-2023. The Company has the option to renew the Initial Term for two ten-year periods at a rental rate equal to 100% of the then-prevailing market rental rate for comparable buildings in the Raleigh, North Carolina, market. Upon the effective date, the Company deposited $2.5 million with the Developer as security on the lease. Additionally, the Company made deposits of $21.7 million to fund certain improvements expected to be constructed as part of the development of the Project. Deposits are recorded in other long-term assets on the Company’s consolidated balance sheets.

No ROU assets or lease liabilities have been recognized in connection with the lease as of December 31, 2022. Future lease payments are included in Note 12, “Commitments and Contingencies,” to these consolidated financial statements.

Property, Plant and Equipment

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

6. Property, Plant and Equipment

Property, plant and equipment, net consisted of the following:


	As of December 31,
	2022		2021

	(In thousands)
Furniture and fixtures	$	16,494	$	2,240
Computer and office equipment	14,160		5,419
Telecommunications equipment	80,251		76,963
Leasehold improvements	6,410		6,970
Software	7,051		6,942
Internal-use software development	23,677		22,917
Automobile	665		616
Land	23,090		17,269
Total cost	171,798		139,336
Less—accumulated depreciation	(72,045)		(69,732)
Total property, plant and equipment, net	$	99,753	$	69,604

The Company capitalizes the costs to design software for internal use related to the development of its platform during the application development stage of the projects. The costs are primarily comprised of salaries and benefits of the projects’ engineers and product development teams. Internally developed software is reported at cost less accumulated amortization. Amortization begins once the project is substantially complete and ready for its intended use. Costs incurred prior to the application development stage, maintenance activities or minor upgrades are expensed in the period incurred. Unamortized software development costs were approximately $8.4 million and $7.5 million as of December 31, 2022 and 2021, respectively.

The Company capitalized $3.8 million, $3.9 million, and $2.3 million of software development costs for the years ended December 31, 2022, 2021 and 2020, respectively.

Amortization expense related to capitalized software development costs were $2.2 million, $1.8 million, and $2.0 million for the years ended December 31, 2022, 2021 and 2020, respectively. As of December 31, 2022, unamortized implementation costs related to cloud computing arrangements are $0.3 million, of which $0.1 million are included in prepaid expenses and other current assets and $0.2 million are included in other long-term assets.

The Company leases automobiles under leases accounted for as finance leases with expiration dates ranging from February 7, 2023 to June 23, 2026. As of December 31, 2022, cost and accumulated depreciation of the assets under finance leases recorded by the Company were $0.7 million and $0.3 million, respectively. As of December 31, 2021, cost and accumulated depreciation of the assets under finance leases recorded by the Company were $0.6 million and $0.2 million, respectively.

The Company recognized an impairment of $0.5 million, $0.5 million, and $0.2 million during the years ended December 31, 2022, 2021 and 2020, respectively, related to capitalized software development costs that provided no future benefit and therefore were impaired. This expense is reflected within other income (expense), net as of December 31, 2022 and cost of revenue as of December 31, 2021 and 2020 in the accompanying consolidated statements of operations.

The Company recognized depreciation expense, which includes amortization of capitalized software development costs, as follows:


	Year ended December 31,
		2022		2021		2020

		(In thousands)
Cost of revenue		$	13,602	$	12,606	$	9,997
Research and development		2,311		2,166		1,446
Sales and marketing		1,331		1,090		1,275
General and administrative		1,175		1,661		419
Total depreciation expense		$	18,419	$	17,523	$	13,137

Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

7. Goodwill and Intangible Assets

Goodwill

The changes in carrying amount of goodwill were as follows:


	Total

	(In thousands)
Balance as of December 31, 2020	$	372,239
Measurement period adjustment	999
Impact of foreign currency translation	(28,815)
Balance as of December 31, 2021	344,423

Impact of foreign currency translation	(18,018)
Balance as of December 31, 2022	$	326,405

Intangible Assets

Intangible assets, net consisted of the following as of December 31, 2022:


	Gross Amount		Accumulated Amortization		Net Carrying Value		Amortization Period

	(In thousands)						(In years)
Customer relationships	$	141,146	$	(25,037)	$	116,109	15 - 20



Developed technology	77,409		(16,772)		60,637		10
Other, definite lived	2,828		(2,828)		—		2 - 7
Licenses, indefinite lived	624		—		624		Indefinite







Total intangible assets, net	$	222,007	$	(44,637)	$	177,370

Intangible assets, net consisted of the following as of December 31, 2021:


	Gross Amount		Accumulated Amortization		Net Carrying Value		Amortization Period

	(In thousands)						(In years)
Customer relationships	$	155,081	$	(16,861)	$	138,220	15 - 20



Developed technology	82,548		(10,315)		72,233		10
Other, definite lived	3,158		(3,158)		—		2 - 7
Licenses, indefinite lived	764		—		764		Indefinite







Total intangible assets, net	$	241,551	$	(30,334)	$	211,217

The Company recognized amortization expense as follows:


	Year ended December 31,
		2022		2021		2020

		(In thousands)
Cost of revenue		$	7,657	$	8,543	$	1,445

Sales and marketing		9,523		10,576		2,221

Total amortization expense		$	17,180	$	19,119	$	3,666

The remaining weighted average amortization period for definite lived intangible assets is 11.0 years.

Future estimated amortization expense for definite lived intangible assets is as follows:


	As of December 31, 2022


	(In thousands)

2023	$	16,977
2024	16,977
2025	16,977
2026	16,977
2027	16,977

Thereafter	91,861
	$	176,746

Debt

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Debt

8. Debt

Revolving Credit Facility

On June 6, 2022, the Company entered into a credit agreement (the “Credit Agreement”) among the Company, as borrower, the lenders from time to time party thereto, and Silicon Valley Bank as administrative agent, issuing lender and swingline lender. The Credit Agreement provides for a $50.0 million revolving credit facility (the “Credit Facility”), including a $20.0 million sublimit for the issuance of letters of credit and a swingline subfacility of up to $5.0 million. The Credit Facility matures on June 6, 2025.

Interest on borrowings under the Credit Facility accrues at an annual rate tied to a base rate or the Secured Overnight Financing Rate (“SOFR”), at the Company’s election. Loans based on SOFR bear interest at a rate equal to SOFR plus an applicable margin between 1.50% and 2.00% depending upon the Company’s consolidated adjusted quick ratio for the immediately preceding quarter, and loans based on the base rate bear interest at a rate equal to the base rate plus an applicable margin between 0.50% and 1.00% depending upon the Company’s consolidated adjusted quick ratio for the immediately preceding quarter. The Company is required to pay a quarterly commitment fee equal to 0.0625% on the unused portion of the borrowing commitment. The Credit Agreement requires that the Company meet a minimum quick ratio on a quarterly basis if the Company does not maintain the minimum liquidity amount of $70.0 million in cash and cash equivalents at all times.

As of December 31, 2022, unamortized debt issuance costs were $0.4 million, of which $0.2 million were included in prepaid expenses and other current assets and $0.2 million were included in other long-term assets.

As of December 31, 2022, there were no borrowings under the Credit Facility and the Company was in compliance with all financial and non-financial covenants for all periods presented. The available borrowing capacity under the Credit Facility was $50.0 million as of December 31, 2022.

Convertible Senior Notes and Capped Call Transactions

2026 Convertible Notes

On February 28, 2020, the Company issued $400.0 million aggregate principal amount of 0.25% Convertible Notes due March 1, 2026 in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act (the “2026 Convertible Notes”). The interest on the 2026 Convertible Notes is payable semi-annually in arrears on March 1 and September 1 of each year, beginning on September 1, 2020.

The 2026 Convertible Notes may bear special interest under specified circumstances relating to the Company’s failure to comply with its reporting obligations under the indenture governing the 2026 Convertible Notes (the “2026 Indenture”) or if the 2026 Convertible Notes are not freely tradeable as required by the 2026 Indenture. The 2026 Convertible Notes will mature on March 1, 2026, unless earlier repurchased, redeemed by the Company, or converted pursuant to their terms. The total net proceeds from the 2026 Convertible Notes, after deducting initial purchaser discounts, costs related to the 2026 Capped Calls (as defined herein), and debt issuance costs, paid by the Company, were approximately $344.7 million.

Each $0.001 principal amount of the 2026 Convertible Notes is initially convertible into 10.9857 shares of the Company’s Class A common stock, par value $0.001 per share, which is equivalent to an initial conversion price of approximately $91.03 per share. The conversion rate is subject to adjustment upon the occurrence of certain specified events but will not be adjusted for any accrued and unpaid special interest. In addition, upon the occurrence of a make-whole fundamental change, as defined in the 2026 Indenture, the Company will, in certain circumstances, increase the conversion rate by a number of additional shares for a holder that elects to convert its 2026 Convertible Notes in connection with such make-whole fundamental change or during the relevant redemption period.

The 2026 Convertible Notes will be redeemable in whole or in part at the Company’s option on or after March 6, 2023, but before the fortieth (40th) scheduled trading day before the maturity date, at a cash redemption price equal to 100% of the principal amount of the 2026 Convertible Notes to be redeemed, plus accrued and unpaid interest, if any, if the last reported sale price of the Class A common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading days ending on, and including, the trading day immediately before the date the redemption notices were sent; and the trading day immediately before such notices were sent.

Prior to the close of business on the business day immediately preceding September 1, 2025, the 2026 Convertible Notes may be convertible at the option of the holders only under the following circumstances:

(1)during any calendar quarter commencing after the calendar quarter ending on June 30, 2020 (and only during such calendar quarter), if the last reported sale price per share of the Company’s Class A common stock exceeds 130% of the conversion price for each of at least 20 trading days, whether or not consecutive, during the 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter;

(2)during the five consecutive business days immediately after any 10 consecutive trading day period (such 10 consecutive trading day period, the “measurement period”) in which the trading price per $0.001 principal amount of 2026 Convertible Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price per share of the Company’s Class A common stock on such trading day and the conversion rate on such trading day;

(3)upon the occurrence of certain corporate events or distributions on its Class A common stock; and

(4)if the Company calls such 2026 Convertible Notes for redemption.

On or after September 1, 2025, until the close of business on the second scheduled trading day immediately preceding the maturity date, holders of the 2026 Convertible Notes may, at their option, convert all or a portion of their 2026 Convertible Notes regardless of the foregoing conditions.

Prior to and during the nine months ended September 30, 2021, the conditional conversion feature of the 2026 Convertible Notes was triggered as the last reported sale price of the Company’s Class A common stock was more than or equal to 130% of the conversion price for at least 20 trading days (whether or not consecutive) in the period of 30 consecutive trading days ending on or after June 30, 2020 (the last trading day of the calendar quarter), and therefore the 2026 Convertible Notes were convertible, in whole or in part, at the option of the holders between July 1, 2020 through September 30, 2021. The conditional conversion feature of the 2026 Convertible Notes was not triggered from October 1, 2021 through December 31, 2022 as the last reported sale price of the Company’s Class A common stock was not more than or equal to 130% of the conversion price for at least 20 trading days (whether or not consecutive) in the period of 30 consecutive trading days (the last trading day of the calendar quarter). Whether the 2026 Convertible Notes will be convertible following such period will depend on the satisfaction of this condition or another conversion condition in the future. The Company continues to classify the 2026 Convertible Notes as a long-term liability in its consolidated balance sheets as of December 31, 2022, based on contractual settlement provisions.

Upon conversion, the Company will pay or deliver, as the case may be, cash, shares of Class A common stock, or a combination of cash and shares of Class A common stock, at the Company’s election. It is the Company’s current intent to settle the principal amount of the 2026 Convertible Notes with cash.

No sinking fund is provided for the 2026 Convertible Notes. Upon the occurrence of a fundamental change (as defined in the 2026 Indenture) prior to the maturity date, holders may require the Company to repurchase all or a portion of the 2026 Convertible Notes for cash at a price equal to the principal amount of the 2026 Convertible Notes to be repurchased, plus any accrued and unpaid interest to, but excluding, the fundamental change repurchase date.

In accounting for the issuance of the 2026 Convertible Notes, prior to the adoption of ASU 2020-06, the Company separated the 2026 Convertible Notes into liability and equity components. The carrying amount of the liability component was calculated by measuring the fair value of a similar debt instrument that does not have an associated convertible feature. The carrying amount of the equity component representing the conversion option was $125.2 million and was determined by deducting the fair value of the liability component from the par value of the 2026 Convertible Notes. The difference represented the debt discount that was amortized to interest expense at an effective interest rate of 6.763% over the term of the 2026 Convertible Notes. The carrying amount of the equity component was $57.5 million and is recorded in additional paid-in-capital. The equity component was not remeasured as long as it continued to meet the conditions for equity classification. The excess of the principal amount of the liability component over its carrying amount, or the debt discount, was amortized to interest expense at an annual effective interest rate of 6.907% over the contractual terms of the 2026 Convertible Notes. Upon adoption of ASU 2020-06 on January 1, 2022, the Company reversed the separation of the debt and equity component representing the conversion option and accounted for the 2026 Convertible Notes in their entirety as debt. The Company also reversed the amortization of the debt discount, with a cumulative adjustment to retained earnings on the adoption date.

In accounting for the transaction costs related to the 2026 Convertible Notes, prior to the adoption of ASU 2020-06, the Company allocated the total amount incurred to the liability and equity components of the 2026 Convertible Notes based on the proportion of the proceeds allocated to the debt and equity components. Issuance costs attributable to the liability component were approximately $8.2 million, were recorded as an additional debt discount and amortized to interest expense using the effective interest method over the contractual terms of the 2026 Convertible Notes. Issuance costs attributable to the equity component of $3.7 million were netted with the equity component in stockholders’ equity. Upon adoption of ASU 2020-06 on January 1, 2022, the Company reversed the allocation of the issuance costs to the equity component and accounted for the entire amount as debt issuance cost

that will be amortized as interest expense at an effective interest rate of 0.513% for the term of the 2026 Convertible Notes with a cumulative adjustment to retained earnings on the adoption date.

During November 2022, the Company entered into separate, privately negotiated repurchase agreements with a limited number of holders of the 2026 Convertible Notes to repurchase approximately $160.0 million aggregate principal amount of the 2026 Convertible Notes for an aggregate cash price of approximately $117.2 million. The Repurchases closed on November 28, 2022. The Company had previously entered into capped call transactions with certain financial institutions in connection with the 2026 Convertible Notes. All of these transactions are expected to remain in effect notwithstanding the Repurchases. Following the Repurchases, approximately $240.0 million principal amount of the 2026 Convertible Notes remain outstanding. The difference between the consideration used to repurchase the 2026 Convertible Notes and the carrying value of the 2026 Convertible Notes resulted in a gain of $40.2 million recorded within other income (expense), net on the Company’s consolidated statements of operations in the year ended December 31, 2022.

2028 Convertible Notes

On March 16, 2021, the Company issued $250.0 million aggregate principal amount of 0.50% Convertible Notes due April 1, 2028 in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act (the “2028 Convertible Notes” and, together with the 2026 Convertible Notes, the “Convertible Notes”). The interest on the 2028 Convertible Notes is payable semi-annually in arrears on April 1 and October 1 of each year, beginning on October 1, 2021.

The 2028 Convertible Notes may bear special interest under specified circumstances relating to the Company’s failure to comply with its reporting obligations under the indenture governing the 2028 Convertible Notes (the “2028 Indenture”) or if the 2028 Convertible Notes are not freely tradeable as required by the 2028 Indenture. The 2028 Convertible Notes will mature on April 1, 2028, unless earlier repurchased, redeemed by the Company, or converted pursuant to their terms. The total net proceeds from the 2028 Convertible Notes, after deducting initial purchaser discounts, costs related to the 2028 Capped Calls (as defined herein), and debt issuance costs, paid by the Company, were approximately $217.0 million.

Each $0.001 principal amount of the 2028 Convertible Notes is initially convertible into 5.5781 shares of the Company’s Class A common stock, par value $0.001 per share, which is equivalent to an initial conversion price of approximately $179.27 per share. The conversion rate is subject to adjustment upon the occurrence of certain specified events but will not be adjusted for any accrued and unpaid special interest. In addition, upon the occurrence of a make-whole fundamental change, as defined in the 2028 Indenture, the Company will, in certain circumstances, increase the conversion rate by a number of additional shares for a holder that elects to convert its 2028 Convertible Notes in connection with such make-whole fundamental change or during the relevant redemption period.

The 2028 Convertible Notes will be redeemable in whole or in part at the Company’s option on or after April 6, 2025, but before the fortieth (40th) scheduled trading day before the maturity date, at a cash redemption price equal to 100% of the principal amount of the 2028 Convertible Notes to be redeemed, plus accrued and unpaid interest, if any, if the last reported sale price of the Class A common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading days ending on, and including, the trading day immediately before the date the redemption notices were sent; and the trading day immediately before such notices were sent.

On or after April 6, 2025 until the close of business on the scheduled trading day immediately preceding the maturity date, the 2028 Convertible Notes may be convertible at the option of the holders only under the following circumstances:

(1)during any calendar quarter commencing after the calendar quarter ending on June 30, 2021 (and only during such calendar quarter), if the last reported sale price per share of the Company’s Class A common stock exceeds 130% of the conversion price for each of at least 20 trading days, whether or not

consecutive, during the 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter;

(2)during the five consecutive business days immediately after any 10 consecutive trading day period (such 10 consecutive trading day period, the “measurement period”) in which the trading price per $0.001 principal amount of 2028 Convertible Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price per share of the Company’s Class A common stock on such trading day and the conversion rate on such trading day;

(3)upon the occurrence of certain corporate events or distributions on its Class A common stock; and

(4)if the Company calls such 2028 Convertible Notes for redemption.

On or after October 1, 2027, until the close of business on the second scheduled trading day immediately preceding the maturity date, holders of the 2028 Convertible Notes may, at their option, convert all or a portion of their Convertible Notes regardless of the foregoing conditions.

The conditional conversion feature of the 2028 Convertible Notes was not triggered during the years ended December 31, 2022 and 2021, as the last reported sale price of the Company’s Class A common stock was not more than or equal to 130% of the conversion price for at least 20 trading days (whether or not consecutive) in the period of 30 consecutive trading days (the last trading day of the calendar quarter). Whether the 2028 Convertible Notes will be convertible following such period will depend on the satisfaction of this condition or another conversion condition in the future. The Company continues to classify the 2028 Convertible Notes as a long-term liability in its consolidated balance sheets as of December 31, 2022, based on contractual settlement provisions.

No sinking fund is provided for the 2028 Convertible Notes. Upon the occurrence of a fundamental change (as defined in the 2028 Indenture) prior to the maturity date, holders may require the Company to repurchase all or a portion of the 2028 Convertible Notes for cash at a price equal to the principal amount of the 2028 Convertible Notes to be repurchased, plus any accrued and unpaid interest to, but excluding, the fundamental change repurchase date.

In accounting for the issuance of the 2028 Convertible Notes, prior to the adoption of ASU 2020-06, the Company separated the 2028 Convertible Notes into liability and equity components. The carrying amount of the liability component was calculated by measuring the fair value of a similar debt instrument that does not have an associated convertible feature. The carrying amount of the equity component representing the conversion option was $66.9 million and was determined by deducting the fair value of the liability component from the par value of the 2028 Convertible Notes. The difference represents the debt discount that was amortized to interest expense at an effective interest rate of 5.125% over the term of the 2028 Convertible Notes. The carrying amount of the equity component was $39.4 million and was recorded in additional paid-in-capital. The equity component was not remeasured as long as it continued to meet the conditions for equity classification. The excess of the principal amount of the liability component over its carrying amount, or the debt discount, was amortized to interest expense at an annual effective interest rate of 4.959% over the contractual terms of the 2028 Convertible Notes. Upon adoption of ASU 2020-06 on January 1, 2022, the Company reversed the separation of the debt and equity component representing the conversion option and accounted for the 2028 Convertible Notes in their entirety as debt. The Company also reversed the amortization of the debt discount, with a cumulative adjustment to retained earnings on the adoption date.

In accounting for the transaction costs related to the 2028 Convertible Notes, prior to the adoption of ASU 2020-06, the Company allocated the total amount incurred to the liability and equity components of the 2028

Convertible Notes based on the proportion of the proceeds allocated to the debt and equity components. Issuance costs attributable to the liability component were approximately $5.5 million, were recorded as an additional debt discount and amortized to interest expense using the effective interest method over the contractual terms of the 2028 Convertible Notes. Issuance costs attributable to the equity component of $2.0 million were netted with the equity component in stockholders’ equity. Upon adoption of ASU 2020-06 on January 1, 2022, the Company reversed the allocation of the issuance costs to the equity component and accounted for the entire amount as debt issuance cost that will be amortized as interest expense at an effective interest rate of 0.442% for the term of the 2028 Convertible Notes with a cumulative adjustment to retained earnings on the adoption date.

As discussed above, upon adoption of ASU 2020-06, the Company reversed the separation of the debt and equity components of the 2026 Convertible Notes and the 2028 Convertible Notes, and accounted for the Convertible Notes wholly as debt. Additionally, the issuance costs of the 2026 Convertible Notes and the 2028 Convertible Notes were accounted for as debt issuance costs in their entirety. There is no longer a net carrying amount for the equity component as of the adoption date, January 1, 2022.

The net carrying amount of the liability components of the 2026 Convertible Notes and the 2028 Convertible Notes were as follows:


	As of December 31,
	2022		2021

2026 Convertible Notes:	(In thousands)
Principal	$	240,000	$	400,000
Unamortized discount	N/A		(92,034)
Unamortized debt issuance costs	(3,805)		(6,043)
2026 Convertible Notes net carrying amount	$	236,195	$	301,923

2028 Convertible Notes:
Principal	$	250,000	$	250,000
Unamortized discount	N/A		(60,488)
Unamortized debt issuance costs	(5,649)		(4,995)
2028 Convertible Notes net carrying amount	$	244,351	$	184,517
Total net carrying amount	$	480,546	$	486,440

The net carrying amount of the equity components of the 2026 and 2028 Convertible Notes were as follows:


	As of December 31,
	2022	2021

2026 Convertible Notes:	(In thousands)
Proceeds allocated to the conversion options (debt discount)	N/A	$	125,152
Issuance costs	N/A	(3,742)
2026 Convertible Notes net carrying amount	N/A	$	121,410

2028 Convertible Notes:
Proceeds allocated to the conversion options (debt discount)	N/A	$	66,908
Issuance costs	N/A	(2,019)
2028 Convertible Notes net carrying amount	N/A	$	64,889
Total net carrying amount	N/A	$	186,299

The following table sets forth the interest expense recognized related to the 2026 and 2028 Convertible Notes:


	Year ended December 31,
		2022		2021

2026 Convertible Notes:		(In thousands)
Contractual interest expense		$	997	$	1,000
Amortization of debt discount (1)		N/A		18,505
Amortization of debt issuance costs		1,915		1,214
Total interest expense related to the 2026 Convertible Notes		$	2,912	$	20,719

2028 Convertible Notes:
Contractual interest expense		$	1,250	$	991
Amortization of debt discount (1)		N/A		6,419
Amortization of debt issuance costs		1,062		532
Total interest expense related to the 2028 Convertible Notes		$	2,312	$	7,942
Total interest expense		$	5,224	$	28,661

________________________

(1) Upon adoption of ASU 2020-06, the debt discount associated with the equity component on convertible debt outstanding was reversed, which resulted in a decrease in the amount of non-cash interest expense to be recognized going forward.

In connection with the offering of the 2026 Convertible Notes and the 2028 Convertible Notes, the Company entered into privately negotiated capped call transactions with certain counterparties (the “2026 Capped Calls” and the “2028 Capped Calls,” respectively and, collectively, the “Capped Calls”). The 2026 Capped Calls and the 2028 Capped Calls each have an initial strike price of approximately $91.03 and $179.27 per share, respectively, subject to certain adjustments, which corresponds to the initial conversion price of the 2026 Convertible Notes and the 2028 Convertible Notes. The 2026 Capped Calls and the 2028 Capped Calls have initial cap prices of $137.40 and $260.76 per share subject to certain adjustments, respectively. The 2026 Capped Calls and the 2028 Capped Calls cover, subject to anti-dilution adjustments, approximately 4,394,276 and 1,394,525 shares of Class A common stock for the 2026 Convertible Notes and 2028 Convertible Notes, respectively. The

Capped Calls are generally intended to reduce or offset the potential dilution to the Class A common stock upon any conversion of the 2026 Convertible Notes and 2028 Convertible Notes with such reduction or offset, as the case may be, subject to a cap based on the cap price. The Capped Calls expire on the earlier of (i) the last day on which any convertible securities remain outstanding and (ii) March 1, 2026 for the 2026 Capped Calls and April 1, 2028 for the 2028 Capped Calls, subject to earlier exercise. The Capped Calls are subject to either adjustment or termination upon the occurrence of specified extraordinary events affecting the Company, including a merger event, a tender offer, and a nationalization, insolvency or delisting involving the Company. In addition, the Capped Calls are subject to certain specified additional disruption events that may give rise to a termination of the Capped Calls, including changes in law, insolvency filings, and hedging disruptions. The Capped Call transactions are recorded in stockholders’ equity and are not accounted for as derivatives. The net cost of $43.3 million and $25.5 million incurred to purchase the 2026 Capped Calls and the 2028 Capped Calls, respectively, was recorded as a reduction to additional paid-in capital in the accompanying consolidated balance sheets.

The Convertible Notes are effectively subordinated to the Company’s future senior secured indebtedness, including the Credit Facility, to the extent of the value of the collateral securing that indebtedness. The Convertible Notes are the senior, unsecured obligations of the Company and are equal in right of payment with the Company’s future senior unsecured indebtedness, if any, senior in right of payment to the Company’s existing and future indebtedness that is expressly subordinated to the Convertible Notes and the Convertible Notes will be structurally subordinated to all existing and future indebtedness and other liabilities, including trade payables, and preferred equity, if any, of the Company’s subsidiaries.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

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+ Details

Geographic Information

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Geographic Information

9. Geographic Information

The Company generates its revenue primarily in the United States. Revenue by geographic area is detailed in the table below (which is determined based on the customer billing address):


	Year ended December 31,
		2022		2021		2020

		(In thousands)
United States		$	514,036	$	433,463	$	324,449
International		59,116		57,444		18,664
Total		$	573,152	$	490,907	$	343,113

The Company’s long-lived assets were primarily held in the United States as of December 31, 2022 and 2021. As of December 31, 2022 and 2021, long-lived assets held outside of the United States were $10.8 million and $9.2 million, respectively.

- 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

Stockholders' Equity

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Stockholders' Equity

10. Stockholders’ Equity

Preferred Stock

As of December 31, 2022 and 2021, the Company had authorized 10,000,000 shares of undesignated preferred stock, par value $0.001, of which no shares were issued and outstanding.

Common Stock

As of December 31, 2022 and 2021, the Company had authorized 100,000,000 shares of Class A common stock, par value $0.001 per share, with one vote per share and 20,000,000 shares of Class B common stock, par value $0.001 per share, with ten votes per share.

As of December 31, 2022, 23,379,000 and 1,965,170 shares of Class A common stock and Class B common stock, respectively, were issued and outstanding.

As of December 31, 2021, 23,177,988 and 1,965,170 shares of Class A common stock and Class B common stock, respectively, were issued and outstanding.

Shares of Class B common stock are convertible into shares of Class A common stock on a 1:1 basis upon the stockholder’s voluntary written notice to the Company’s transfer agent or a transfer by the stockholder, subject to limited exceptions for transfers for estate planning purposes.

Voting Rights

The holders of Class A common stock and Class B common stock have identical rights, except that holders of Class A voting common stock are entitled to one vote per share of Class A common stock and holder of Class B common stock are entitled to ten votes per share of Class B common stock.

Dividends

Any dividends or distributions paid or payable to the holders of shares of Class A common stock and Class B common stock shall be paid pro-rata, on an equal priority. During the years ended December 31, 2022, 2021 and 2020, no dividends were declared. Dividend payments are not subject to restriction.

Reserved Shares

The Company had reserved shares of Class A common stock for issuance under stock-based award agreements as follows:


	As of December 31,
	2022	2021
Stock options issued and outstanding	159,741	180,209
Nonvested restricted stock units issued and outstanding	2,607,106	344,486
Stock-based awards available for grant under the 2017 Plan	1,879,368	3,060,674
	4,646,215	3,585,369

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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+ Details

Stock-Based Compensation

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

11. Stock-Based Compensation

2010 Stock Option Plan

As of July 26, 2010, the Company adopted the 2010 Equity Compensation Plan (the “2010 Plan”). On November 9, 2017, the 2010 Plan was terminated in connection with the Company’s initial public offering. Accordingly, no shares are available for future issuance under the 2010 Plan. However, the 2010 Plan continues to govern the terms and conditions of the outstanding awards granted thereunder.

Amended and Restated 2017 Incentive Award Plan

The Company’s Amended and Restated 2017 Incentive Award Plan (as amended from time to time, the “2017 Plan”) became effective on November 9, 2017. The 2017 Plan provides for the grant of stock options, including incentive stock options and non-qualified stock options, stock appreciation rights, restricted stock, dividend equivalents, restricted stock units, and other stock or cash based awards to employees, consultants and directors of the Company. A total of 1,050,000 shares of the Company’s Class A common stock were originally reserved for issuance under the 2017 Plan. These available shares automatically increase each January 1, beginning on January 1, 2018, by 5% of the number of shares of the Company’s Class A common stock outstanding on the

final day of the immediately preceding calendar year. On January 1, 2022, the shares available for grant under the 2017 Plan were automatically increased by 1,158,899 shares.

The terms of the stock option grants are determined by the Company’s Board of Directors. The Company’s stock options vest based on terms of the stock option agreements. The stock options have a contractual life of ten years.

Restricted stock units (“RSUs”) granted to employees and non-employee members of the Board of Directors under the 2017 Plan are generally subject to a time-based vesting condition. The compensation expense related to these awards is based on the grant date fair value of the RSUs and is recognized on a ratable basis over the applicable service period. Vesting schedules may differ as between different categories of award recipients.

Stock Options

The following summarizes the stock option activity for the periods presented:


	Number of options outstanding	Weighted- average exercise price (Per share)		Weighted- average remaining contract life (In years)	Aggregate intrinsic value (In thousands)
Outstanding as of December 31, 2021	180,209	$	10.14	3.39	$	11,104
Granted	—	—
Exercised	(20,468)	7.95
Forfeited or cancelled	—	—
Outstanding as of December 31, 2022	159,741	$	10.42	2.57	$	2,001

Options vested and exercisable at December 31, 2022	159,741	$	10.42	2.57	$	2,001
Options vested and expected to vest as of December 31, 2022	159,741	$	10.42	2.57	$	2,001


	Year ended December 31,
		2022		2021		2020

		(In thousands)
Aggregate intrinsic value of stock options exercised		$	635	$	9,297	$	54,088
Total estimated grant date fair value of options vested		—		247		416

Aggregate intrinsic value is computed based on the difference between the option exercise price and the fair value of the Company’s common stock as of December 31, 2022, based on the Company’s Class A common stock price as reported on the NASDAQ Global Select Market.

No options were granted for the year ended December 31, 2022.

As of December 31, 2022, the Company had no unrecognized compensation cost related to non-vested stock options. All outstanding stock options were fully vested prior to the current year.

Restricted Stock Units

The following summarizes the RSU activity for the period presented:


	Number of awards outstanding	Weighted-average grant date fair value (Per share)
Nonvested RSUs as of December 31, 2021	344,486	$	82.38
Granted	2,631,931	30.43
Vested	(231,234)	65.03
Forfeited or cancelled	(138,077)	67.35
Nonvested RSUs as of December 31, 2022	2,607,106	$	32.33

As of December 31, 2022, total unrecognized compensation cost related to non-vested RSUs was $71.9 million, which will be amortized over a weighted-average period of 2.85 years.

Stock-Based Compensation Expense

The Company recognized total stock-based compensation expense as follows:


	Year ended December 31,
		2022		2021		2020

		(In thousands)
Cost of revenue		$	404	$	364	$	306
Research and development		7,523		3,681		3,030
Sales and marketing		2,808		2,225		1,834
General and administrative		9,920		8,267		4,711
Total		$	20,655	$	14,537	$	9,881

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	12. Commitments and Contingencies Operating Leases The Company leases office space under operating lease agreements that expire over the next 4 years. As of December 31, 2022, the Company has $17.0 million in future minimum rent payments for its current office space. See Note 5, “Right-of-Use Asset and Lease Liabilities” to the consolidated financial statements, for additional details on the Company’s operating lease commitments. Contractual Obligations As of December 31, 2022, the Company has $12.0 million in non-cancellable purchase obligations, consisting of primarily network equipment maintenance and software license contracts, of which $9.9 million will be fulfilled within one year. On May 27, 2021, the Company entered into the Lease with the Developer for the Conveyed Parcel, together with the Project. The respective obligations of the Company and the Developer under the Lease were conditioned upon the Developer acquiring fee simple title to the Conveyed Parcel, which occurred on June 4, 2021. The Lease term will commence upon the Commencement Date and continue for the Initial Term. It is anticipated that the Commencement Date will occur in mid-2023. If the Commencement Date does not occur within one hundred twenty (120) days from the scheduled Commencement Date, the Company shall be entitled to certain rent abatements, as described in the Lease. If the Commencement Date does not occur within twelve (12) months of the scheduled Commencement Date, the Company may terminate the Lease. The Company has the option to renew the Initial Term for two ten-year periods. Base rent payments will begin on the Commencement Date. The initial base rent will increase by 1.85% on each anniversary of the Commencement Date. Total lease payments over the Initial Term are approximately $495.7 million. See Note 5, “Right-of-Use Asset and Lease Liabilities” to the consolidated financial statements, for additional details on the Company's operating lease commitments. Legal Matters The Company is involved as a defendant in various litigation, including, but not limited to, (a) lawsuits alleging that the Company failed to bill, collect and remit certain taxes and surcharges associated with the provision of 911 services pursuant to applicable laws in various jurisdictions, and (b) an action brought by a non-practicing entity related to alleged patent infringement. The Company intends to vigorously defend these lawsuits and believes that it has meritorious defenses to each. However, litigation is inherently uncertain, and any judgment or injunctive relief entered against the Company or any adverse settlement could adversely affect the Company’s business, results of operations and financial condition.

Employee Benefit Plans

12 Months Ended

Dec. 31, 2022

Retirement Benefits [Abstract]

Employee Benefit Plans

13. Employee Benefit Plans

The Company sponsors a U.S. defined contribution 401(k), which allows eligible U.S.-based employees to defer a portion of their compensation. The Company, at its discretion, may make matching contributions. With the acquisition of Voxbone S.A. on November 1, 2020, the Company assumed sponsorship for Voxbone S.A.’s U.S. defined contribution 401(k). In connection with that acquisition, the Company also assumed sponsorship for a non-U.S. defined contribution plan for which it pays fixed contributions into a separate entity. The Company has no legal or constructive obligations to pay further contributions if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current or prior periods. The contributions are recognized as employee benefit expense when they are due. The Company made matching contributions for the defined contribution plans of $4.6 million, $3.8 million, and $2.2 million for the years ended December 31, 2022, 2021 and 2020, respectively.

In addition, as a result of the acquisition of Voxbone S.A., the Company assumed sponsorship for Voxbone S.A.’s non-U.S. defined benefit pension plans. The liability recognized is the present value of the defined benefit obligation at the end of the reporting period less the fair value of the plan assets and is included in other liabilities in the accompanying consolidated balance sheets. The defined benefit obligation is calculated annually by an independent actuary using the Projected Unit Credit Method.

The following table summarizes information for the pension plans:


	As of December 31,
	2022		2021

	(In thousands)
Change in benefit obligation:
Benefit obligation at beginning of year	$	3,874	$	4,064
Service cost	268		396
Interest cost	35		21
Actuarial gain	(418)		(237)
Taxes, insurance premiums and administrative expenses	(50)		(55)

Impact of foreign currency translation	(207)		(315)
Benefit obligation at end of year	$	3,502	$	3,874

Change in plan assets:
Fair value of plan assets at beginning of year	$	2,958	$	2,882
Return on plan assets	26		14
Actuarial gain	72		6
Employer contribution	332		335

Taxes, insurance premiums and administrative expenses	(50)		(55)
Impact of foreign currency translation	(157)		(224)
Fair value of plan assets at end of year	3,181		2,958
Funded status, net liability	$	321	$	916

The following table presents the balance sheet location of the Company’s pension liability for the Company’s non-U.S. defined benefit pension plans:


	As of December 31,
	2022		2021

	(In thousands)
Other liabilities	$	321	$	916

The following table summarizes information for the Company’s pension plans with an accumulated benefit obligation in excess of plan assets:


	As of December 31,
	2022		2021

	(In thousands)
Projected benefit obligation	$	3,502	$	3,874
Accumulated benefit obligation	3,265		3,282
Fair value of plan assets	3,181		2,958

The Company reports the service cost component of net periodic benefit cost in the same line item as other compensation costs arising from the services rendered by the employee and records the other components of net periodic benefit cost in other income (expense), net.

Pretax amounts for net periodic benefit cost and other amounts for the defined benefit pension plans consisted of the following components:


	Year ended December 31,
	2022		2021		2020

	(In thousands)
Service cost	$	268	$	396	$	75
Interest cost	35		21		3
Return on plan assets	(26)		(14)		(8)
Net periodic pension cost	277		403		70
Changes in plan assets and benefit obligations included in other comprehensive loss:
Unrecognized net actuarial (gain) loss beginning of year	(227)		17		—
Actuarial (gain) loss on benefit obligation	(418)		(237)		15
Actuarial (gain) loss on fair value of plan assets	(72)		(6)		2
Impact of foreign currency translation	12		(1)		—

Total included in other comprehensive loss (before tax effect)	(705)		(227)		17
Total recognized in net periodic benefit cost and included in other comprehensive loss	$	(428)	$	176	$	87

The Company uses significant judgment to determine the measurement of their non-U.S. defined benefit pension plans’ assets and liabilities. These amounts are calculated by an independent actuary. The present value of the defined benefit obligation depends on a number of factors that are determined on an actuarial basis using a number of assumptions. Any change in these assumptions will impact the present value of the defined benefit obligation.

The actuarial gains and losses recognized in the pension expense are determined using the so-called “10% corridor” method, i.e. actuarial gains and losses which exceed 10% of the higher of the plan assets and the projected benefit obligation are amortized on a straight line basis over the average remaining service period of the active plan participants. Any prior service costs are amortized on a straight line basis over the average remaining service period of the active plan participants.

The Company determines the appropriate discount rate at the end of each year. This is the interest rate that should be used to determine the present value of estimated future cash outflows expected to be required to settle the pension obligations. In determining the appropriate discount rate, the Company considers the interest rates of high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity approximating the terms of the related obligation. The other assumptions for pension obligations are based in part on market conditions.

Significant assumptions used in determining benefit obligations and net periodic benefit cost are as follows:


	Year ended December 31,
	2022		2021		2020
Defined benefit obligations:
Discount rate	3.80	%	0.90	%	0.50	%
Rate of salary increase	4.67	%	4.27	%	4.07	%
Inflation	2.30	%	1.80	%	1.60	%

Defined benefit cost:
Discount rate	3.80	%	0.90	%	1.50	%
Rate of salary increase	4.67	%	4.27	%	4.37	%
Rate of return on plan assets	1.20	%	0.90	%	0.50	%
Inflation	2.30	%	1.80	%	1.90	%

Plan Assets

The Company’s non-U.S. defined benefit plans are insured by a third party. The investments are governed by the insurer, who oversees all investment decisions. The insurance contracts are classified as Level 2 because a portion of the underlying funds are valued using significant other observable inputs. The insurance contracts provide for a guaranteed interest credit and a profit-sharing adjustment based on the actual performance of the underlying investment assets of the insurer. The fair value of the contract is determined by the insurer based on the premiums paid by the Company plus interest credits plus the profit-sharing adjustment less benefit payments.

The major categories of plan assets are as follows:


	As of December 31,
	2022		2021

	(In thousands)
Assets held by:
Insurance companies (collective and individual)	$	3,181	$	2,958

Expected Cash Flows

The Company expects to contribute $0.3 million to its non-U.S. defined benefit pension plans during 2023.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

Income Taxes

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Income Taxes

14. Income Taxes

The following table presents domestic and foreign components of income (loss) before income taxes for the tax years ended December 31, 2022, 2021 and 2020:


	Year Ended December 31,
	2022		2021		2020

	(In thousands)
United States	$	30,594	$	(27,547)	$	(25,745)
International	(13,288)		(3,648)		(3,227)
Income (loss) before income taxes	$	17,306	$	(31,195)	$	(28,972)

Benefit (provision) for income taxes from operations consists of the following:


	Year Ended December 31,

	2022		2021		2020

	(In thousands)
Current:
Federal	$	(2,717)	$	(2,713)	$	431
State	(803)		(145)		(87)
Foreign	(815)		(1,627)		(1,083)
Total	(4,335)		(4,485)		(739)
Deferred:
Federal	1,004		(364)		(9,847)
State	(1)		—		(5,176)
Foreign	5,596		8,682		757
Total	6,599		8,318		(14,266)
Income tax benefit (provision)	$	2,264	$	3,833	$	(15,005)

The following table presents a reconciliation of the statutory federal tax rate and the Company’s effective tax rate for the years ended December 31, 2022, 2021 and 2020:


	Year Ended December 31,
	2022		2021		2020
Federal Tax Rate	21.0	%	21.0	%	21.0	%
State Tax Rate - statutory blended rate	4.3		4.2		4.1
Other effective state tax adjustments	3.6		(1.4)		(2.1)
Non-deductible expenses	4.0		(6.1)		(9.2)
Research tax benefits	(31.6)		7.9		10.5
Stock-based compensation	6.3		13.9		46.8
Change in valuation allowance	(16.1)		16.3		(123.4)
Deferred tax rate change	0.5		(0.2)		0.2
Voxbone US 338(g) gain	—		(8.9)		—
Intangibles and deferred adjustments	(4.7)		(40.2)		—
Foreign rate differential	1.6		1.3		—
Other	(2.0)		4.5		0.3
Total	(13.1)	%	12.3	%	(51.8)	%

For the year ended December 31, 2022, the Company recognized an income tax benefit of $2.3 million on pre-tax book income of $17.3 million, resulting in an effective income tax rate of (13.1)%. Although the Company has pre-tax book income on a global basis, the Company recognized an income tax benefit due to the valuation allowance position within the U.S. For the year ended December 31, 2021, the Company recognized an income tax benefit of $3.8 million on pre-tax book loss of $31.2 million, resulting in an effective income tax rate of 12.3%. For the year ended December 31, 2020, the Company recognized an income tax expense of $15.0 million on pre-tax book loss of $29.0 million, resulting in an effective income tax rate of (51.8)%.

In 2022, the Company’s valuation allowance in the U.S. continued to offset many of the permanent tax adjustments within the effective tax rate. These adjustments include state taxes, federal research tax credits under Internal Revenue Code Section 41, equity compensation in the U.S., and other non-deductible expenditures in the U.S. The Company has disclosed the statutory blended state income tax rate in the income tax rate reconciliation table. This statutory blended state income tax rate is the rate applied to the Company’s U.S. taxable earnings to calculate its state income tax liability. The Company has also disclosed other effective state tax adjustments which primarily include the state tax impact of permanent tax adjustments and the reconciling adjustment to remove the statutory blended state income tax rate effect from income or loss generated outside of the U.S. The Company continues to generate income tax benefits in the current period related to income tax credits recognized for qualified research activities in the U.S. The applicable federal tax law and regulations define qualified research activities as research and development activities conducted in the U.S. that involve a process of experimentation designed to discover new information intended to develop a new or improved business component. Absent the valuation allowance, equity compensation also impacts the effective tax rate to the extent the income tax deduction exceeds or is below the related book expense, as required under ASC 718-740-35-2. Other U.S. non-deductible expenses that are offset by the valuation allowance consist primarily of non-deductible executive compensation under Internal Revenue Code 162(m). As a result of ASU 2020-06, the company decreased its deferred tax liability by $37.2 million related to debt with a corresponding increase of $36.2 million to valuation allowance. The net impact of these income tax changes related to ASU 2020-06 increased additional paid in capital by $30.0 million and accumulated deficit by $29.0 million, and decreased deferred tax liability by $1.0 million.

The following table presents the significant components of the Company’s net deferred tax liability:


	As of December 31,
	2022		2021

	(In thousands)
Deferred tax assets:
Allowance for doubtful accounts	$	173	$	262
Accrued liabilities	4,370		3,412
Operating lease liabilities	3,456		3,456
Deferred revenue	1,949		1,880

Stock-based compensation - deferred tax asset	3,216		2,278
OID	—		8,848
Section 174	20,997		—
Accrued lease incentive	2,645		—
Tax credits	10,948		9,214
Net operating losses	25,691		50,285
Other deferred tax assets	4,592		4,166
Gross deferred tax assets	78,037		83,801
Less: valuation allowance	(65,678)		(32,224)
Total deferred tax assets	12,359		51,577
Deferred tax liabilities:
Property, plant and equipment	4,890		7,813
Goodwill	1,272		1,130
Intangibles	41,591		49,470
Operating lease assets	3,072		2,860
Debt	—		38,411
Other liability	—		289
Total deferred tax liabilities	50,825		99,973
Net deferred tax liability	$	(38,466)	$	(48,396)

The Company’s accounting for deferred taxes involves the evaluation of a number of factors concerning the realizability of its deferred tax assets. The Company primarily considered the historic performance of Bandwidth, the nature of the Company’s deferred tax assets and the timing, likelihood and amount, if any, of future taxable income during the periods in which those temporary differences and carryforwards become deductible. Based on an analysis of these factors, the Company maintained that in 2022 a valuation allowance against U.S. deferred tax assets was required.

As of December 31, 2022, the Company had approximately $100.1 million in U.S. federal net operating loss carryforwards, $3.8 million in U.K. loss carryforwards, and $10.9 million in federal tax credits. All U.S. federal net operating loss carryforwards were generated after the enactment of the Tax Cuts and Jobs Act (the “Act”) and as such do not expire, but can only be utilized to offset up to 80% of taxable income in any given year. The federal tax credits start to expire at various dates beginning in 2038.

As of December 31, 2022, the Company had approximately $59.6 million in state net operating loss carryforwards. If not utilized, some state net operating loss carryforwards will expire at various dates beginning in 2025.

At December 31, 2022, the amount of unremitted earnings generated by the Company’s foreign subsidiaries was not significant. The Company does not assert indefinite reinvestment on a portion of its unremitted earnings of certain foreign subsidiaries as of December 31, 2022. On the earnings that are not indefinitely reinvested, the Company did not recognize deferred income taxes related to those unremitted foreign earnings, due to the tax favorable manner in which it would be repatriated. For the subsidiaries that the Company asserts permanent reinvestment, if repatriation were to occur, the Company would be required to accrue U.S. taxes, if any, and remit applicable withholding taxes as appropriate. A determination of the amount of the unrecognized deferred tax liability related to these undistributed earnings is not practicable due to the complexity and variety of assumptions necessary based on the manner in which the undistributed earnings would be repatriated.

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:


	Year Ended December 31,
	2022		2021

	(In thousands)
Unrecognized tax benefits—January 1,	$	3,062	$	2,414
Gross increases—tax positions in prior period	613		—

Gross increases—tax positions in current period	1,125		648


Unrecognized tax benefits—December 31,	$	4,800	$	3,062

If the $4.8 million of unrecognized tax benefit is recognized, it would not impact the effective tax rate due to the valuation allowance on the Company’s net U.S. deferred tax assets.

For the year ended December 31, 2022, the Company recognized interest and penalties of $0.3 million related to income taxes within income tax expense. For the year ended December 31, 2021, the Company did not incur any material tax interest or penalties with respect to income taxes.

The Company expects no material changes in the twelve months following December 31, 2022 in its uncertain tax positions.

The Company files U.S. federal income tax returns as well as income tax returns in many U.S. states and foreign jurisdictions. The tax years 2017 - 2021 remain open to examination by the major jurisdictions in which the Company is subject to tax.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI https://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Related Parties	12 Months Ended
Related Parties	Dec. 31, 2022
Related Party Transactions [Abstract]
Related Parties	15. Related Parties On April 20, 2015, the Company created a wholly owned subsidiary, Relay, Inc. (f/k/a Republic Wireless, Inc.) (“Relay”), which was incorporated in Delaware. On November 30, 2016, the Company completed a pro-rata distribution of the common stock of Relay to its stockholders of record as of the close of business. The Company has certain involvement with Relay via an ongoing Master Agreement and a Facilities Sharing Agreement that expired in July 2022. Amounts charged under these arrangements totaled $1.1 million, $1.8 million, and $2.2 million for the years ended December 31, 2022, 2021 and 2020, respectively, and are included in revenue on the Company’s consolidated statements of operations. Amounts due under these arrangements totaled less than $0.1 million as of December 31, 2022 and 2021, and are reported in accounts receivable, net of allowance for doubtful accounts in the accompanying consolidated balance sheets.

Basic and Diluted Income (Loss) per Common Share

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Basic and Diluted Income (Loss) per Common Share

16. Basic and Diluted Income (Loss) per Common Share

Basic net income (loss) per share is computed by dividing net income (loss) by the weighted-average number of shares of common stock outstanding during the period. Diluted net income (loss) per share is computed by giving effect to all potential shares of common stock, including stock options and stock related to unvested restricted stock awards. The Company is in a net loss position for the years ended December 31, 2021 and 2020, and therefore diluted shares equals basic shares.

The components of basic and diluted income (loss) per share are as follows:


	Year ended December 31,
		2022		2021		2020

		(In thousands, except share and per share amounts)
Earnings per share


Net income (loss) attributable to common stockholders		$	19,570	$	(27,362)	$	(43,977)
Net income (loss) per share:
Basic		$	0.77	$	(1.09)	$	(1.83)
Diluted		$	(0.48)	$	(1.09)	$	(1.83)
Numerator used to compute net income (loss) per share:
Basic		$	19,570	$	(27,362)	$	(43,977)
Net gain on extinguishment of debt, net of taxes		(39,614)		—		—
Interest expense on convertible notes, net of taxes		5,147		—		—
Diluted (1)		$	(14,897)	$	(27,362)	$	(43,977)














Weighted average number of common shares outstanding:
Basic		25,282,796		25,090,916		24,092,574

Convertible debt conversion		5,625,073		—		—



Diluted		30,907,869		25,090,916		24,092,574

________________________

(1) Upon the adoption of ASU 2020-06, net income is adjusted for the reversal of the net gain on extinguishment of debt and add back of interest expense as part of the calculation for diluted Non-GAAP earnings per share. See Note 2, “Summary of Significant Accounting Policies,” to the consolidated financial statements, for additional details on the adoption of ASU 2020-06.

The following common share equivalents were excluded from the weighted average shares used to calculate net income (loss) per common share because their effects would have been anti-dilutive:


	As of December 31,
	2022	2021	2020
Stock options issued and outstanding	159,741	180,209	255,000
Restricted stock units issued and outstanding	2,607,106	344,486	450,614
Convertible senior notes (1) (2)	5,625,073	987,149	1,022,941
Total	8,391,920	1,511,844	1,728,555

________________________

(1) As of December 31, 2022, subsequent to adopting ASU 2020-06 as of January 1, 2022, the Company used the if-converted method to calculate the dilutive impact of the 2026 Convertible Notes and 2028 Convertible Notes on diluted income per share, if applicable. The Company expected to settle the principal amount of these notes in cash and any excess in shares of the Company’s Class A common stock. The diluted shares were calculated based on the initial conversion rate of 10.9857 and 5.5781 shares per $0.001 of the aggregate principal amount for the 2026 Convertible Notes and 2028 Convertible Notes, respectively. See Note 2, “Summary of Significant Accounting Policies” to the consolidated financial statements, for additional details on the adoption of ASU 2020-06 and Note 8, “Debt” to the consolidated financial statements, for additional details on the Company’s Convertible Notes.

(2) As of December 31, 2021, the Company used the treasury stock method to calculate the dilutive impact of the 2026 Convertible Notes and the 2028 Convertible Notes because at that time the Company expected to settle the principal amount of these notes in cash and any excess in shares of the Company’s Class A common stock. As of December 31, 2021, the conversion spread, calculated using the average market price of Class A common stock during the period consistent with the treasury stock method, had a dilutive impact for the 2026 Convertible Notes on diluted net income per share of Class A common stock when the average market price of the Company’s Class A common stock for a given period exceeded the conversion price of $91.03 per share. As of December 31, 2021, the conversion spread for the 2028 Convertible Notes was anti-dilutive as the average market price of the Company’s Class A common stock for a given period did not exceed the conversion price of $179.27 per share.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Basis of Presentation

The consolidated financial statements and accompanying notes were prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).

Cost Alignment and Reclassification

Cost Alignment

The following is a comparison of the change in costs to the prior period:


	Year ended December 31, 2021			Year ended December 31, 2020
		As reported		As previously reported		As reported		As previously reported

		(In thousands)
Statement of Operations
Cost of revenue		$	277,094	$	272,384	$	189,203	$	185,252
Research and development		69,505		55,173		54,555		42,059
Sales and marketing		82,333		51,817		61,216		40,552
General and administrative		64,212		113,770		51,644		88,755

Reclassification

Principles of Consolidation

The consolidated financial statements include the accounts of Bandwidth Inc. and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.

Use of Estimates

Use of EstimatesThe preparation of the Company’s consolidated financial statements in conformity with GAAP requires the Company to make estimates and judgments that affect the amounts reported in these financial statements and accompanying notes. These estimates in the consolidated financial statements include, but are not limited to, allowance for doubtful accounts, reserve for expected credit losses, reserve for sales credits, recoverability of long lived and intangible assets, fair value of acquired intangible assets and goodwill, discount rates used in the valuation of right-of-use assets and lease liabilities, the fair value of the liability and equity components of the Company’s Convertible Notes (as defined herein), estimated period of benefit, valuation allowances on deferred tax assets, certain accrued expenses and contingencies, economic and demographic actuarial assumptions related to pension and other postretirement benefit costs and liabilities. Although the Company believes that the estimates it uses are reasonable, due to the inherent uncertainty involved in making these estimates, actual results reported in future periods could differ from those estimates.

Revenue Recognition

Revenue recognition commences upon transfer of control of promised goods or services to customers in an amount that the Company expects to receive in exchange for those products or services.

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.

Nature of Products and Services

The remaining $10.6 million, $7.3 million, and $6.0 million of revenue for the years ended December 31, 2022, 2021 and 2020, respectively, are generated from other miscellaneous services.

Contract Assets and Liabilities

The following table provides information about receivables and contract liabilities from contracts with customers:


	As of December 31,
	2022		2021

	(In thousands)
Receivables (1)	$	74,465	$	61,572
Contract liabilities (2)	15,487		13,882

________________________

(1) Included in accounts receivable, net of allowance for doubtful accounts on the consolidated balance sheets.

(2) Included in current portion of deferred revenue and deferred revenue, net of current portion on the consolidated balance sheets.

Cost of Revenue

Fees paid to other network service providers arise when the Company purchases services such as minutes of use, phone numbers, messages, porting of customer numbers and network circuits.

Research and Development

Research and DevelopmentResearch and development expenses consist of salaries and related personnel costs for the design, development, testing and enhancement of our cloud network and software products. Research and development expenses include depreciation and allocated costs for facilities and information technology utilized by our research and development staff.

Sales and Marketing, General and Administrative

Sales and Marketing

customer relationship intangible assets, and allocated costs of facilities and information technology utilized by our sales and marketing staff.

General and Administrative

Cash and Cash Equivalents and Restricted Cash

Cash and Cash Equivalents

Restricted Cash

Marketable Securities

Accounts Receivable and Current Expected Credit Losses

characteristics include customer size and historical loss patterns. Management has evaluated the expected credit losses related to trade accounts receivable and determined that allowances of approximately $1.2 million and $1.7 million for uncollectible accounts and customer balances that are disputed were required as of December 31, 2022 and 2021, respectively. Refer to Note 4, “Financial Statement Components” to these consolidated financial statements, for a rollforward of the components of the allowances as of December 31, 2022 and 2021.The Company includes unbilled receivables in its accounts receivable balance. Generally, these receivables represent earned revenue from services provided to customers, which will be billed in the next billing cycle. All amounts are considered collectible and billable.

Concentration of Credit Risk

Property, Plant and Equipment, net


Computer hardware and software			1 to 7 years
Internal-use software development costs			4 to 7 years
Furniture and fixtures			2 to 5 years
Land			Indefinite
Leasehold improvements			Shorter of the estimated lease term or 4 to 7 years

Maintenance and repairs are charged to expense as incurred.

Deferred Costs

Internal-Use Software Development Costs

Debt Issuance Costs

Debt Issuance CostsThe Company incurs debt issuance costs associated with obtaining and entering into credit agreements and issuing convertible notes. These costs customarily include non-refundable structuring fees, commitment fees, up-front fees and syndication expenses. The Company has a policy of deferring and amortizing these costs based on the effective interest method over the term of the credit agreements or the convertible notes, as applicable.

Amortization of Intangibles

Amortization of IntangiblesIntangible assets determinable economic lives are carried at cost, less accumulated amortization. Amortization is computed over the estimated useful life of each asset on a straight-line basis. The Company determines the useful lives of identifiable intangible assets after considering the specific facts and circumstances related to each intangible asset. Factors the Company considers when determining useful lives include the contractual term of any agreement related to the asset, the historical performance of the asset, the Company's long-term strategy for using the asset, any laws or other local regulations which could impact the useful life of the asset and other economic factors, including competition and specific market conditions. Intangible assets without determinable economic lives are carried at cost, not amortized and reviewed for impairment at least annually.

Goodwill

The Company establishes its reporting units based on its current organizational structure and management’s view of the business. The Company has determined it has one reporting unit.

relevant events and circumstances, it was more likely than not that the reporting unit’s fair value exceeded its related carrying value and therefore no quantitative assessment was required.

Impairment of Long-Lived Assets

Business Combinations

Advertising Costs

Advertising CostsThe Company expenses advertising costs as incurred.

Commissions

Share-Based Compensation

Stock-Based Compensation

Income Taxes

Operating Segments

Earnings per Share

Foreign currency translation

The Company has foreign operations with non-USD functional currencies. The Euro and British Pound are the primary functional currencies for the Company’s international operations.

translation adjustments is included in shareholder’s equity as a component of accumulated other comprehensive loss in the accompanying consolidated balance sheets.

Fair Value of Financial Instruments

•Level 1. Observable inputs based on unadjusted quoted prices in active markets for identical assets or liabilities;

•Level 2. Inputs, other than quoted prices in active markets, that are observable either directly or indirectly; and

•Level 3. Unobservable inputs for which there is little or no market data, which requires the Company to develop its own assumptions.

A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement.

Comprehensive Loss

generally accepted accounting principles, are recorded as an element of stockholders’ equity but are excluded from the calculation of net income.

Recently Adopted Accounting Standards and Recent Accounting Pronouncements Not Yet Adopted

Recently Adopted Accounting Standards

Recent Accounting Pronouncements Not Yet Adopted

The Company did not have any applicable recent accounting pronouncements not yet adopted.

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Schedule of Changes in Costs to Prior Periods

The following is a comparison of the change in costs to the prior period:


	Year ended December 31, 2021			Year ended December 31, 2020
		As reported		As previously reported		As reported		As previously reported

		(In thousands)
Statement of Operations
Cost of revenue		$	277,094	$	272,384	$	189,203	$	185,252
Research and development		69,505		55,173		54,555		42,059
Sales and marketing		82,333		51,817		61,216		40,552
General and administrative		64,212		113,770		51,644		88,755

Schedule of Contract Assets and Liabilities

The following table provides information about receivables and contract liabilities from contracts with customers:


	As of December 31,
	2022		2021

	(In thousands)
Receivables (1)	$	74,465	$	61,572
Contract liabilities (2)	15,487		13,882

________________________

(1) Included in accounts receivable, net of allowance for doubtful accounts on the consolidated balance sheets.

(2) Included in current portion of deferred revenue and deferred revenue, net of current portion on the consolidated balance sheets.

Schedule of Property, Plant and Equipment, Net

Depreciation and amortization is calculated on a straight-line basis over the estimated useful lives of those assets as follows:


Computer hardware and software			1 to 7 years
Internal-use software development costs			4 to 7 years
Furniture and fixtures			2 to 5 years
Land			Indefinite
Leasehold improvements			Shorter of the estimated lease term or 4 to 7 years

Property, plant and equipment, net consisted of the following:


	As of December 31,
	2022		2021

	(In thousands)
Furniture and fixtures	$	16,494	$	2,240
Computer and office equipment	14,160		5,419
Telecommunications equipment	80,251		76,963
Leasehold improvements	6,410		6,970
Software	7,051		6,942
Internal-use software development	23,677		22,917
Automobile	665		616
Land	23,090		17,269
Total cost	171,798		139,336
Less—accumulated depreciation	(72,045)		(69,732)
Total property, plant and equipment, net	$	99,753	$	69,604

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of Assets Measured at Fair Value on a Recurring Basis

The following tables summarize the assets measured at fair value as of December 31, 2022 and 2021:


	Amortized cost or carrying value		Unrealized gains		Unrealized losses		Fair value measurements on a recurring basis December 31, 2022
							Level 1		Level 2		Level 3		Total

	(In thousands)
Financial assets:
Cash and cash equivalents:
Money market account	$	36,728	$	—	$	—	$	36,728	$	—	$	—	$	36,728





Commercial paper	28,254		—		—		28,254		—		—		28,254

Total included in cash and cash equivalents	$	64,982	$	—	$	—	$	64,982	$	—	$	—	$	64,982
Marketable securities:
Time deposits	$	6,645	$	—	$	(15)	$	6,630	$	—	$	—	$	6,630
U.S. treasury securities	14,718		74		—		14,792		—		—		14,792
Corporate debt securities	23,412		—		(97)		—		23,315		—		23,315
Commercial paper	26,142		352		—		26,494		—		—		26,494
Total marketable securities	$	70,917	$	426	$	(112)	$	47,916	$	23,315	$	—	$	71,231



Total financial assets	$	135,899	$	426	$	(112)	$	112,898	$	23,315	$	—	$	136,213


				Fair value measurements on a recurring basis December 31, 2021
	Level 1	Level 2	Level 3	Total

				(In thousands)
Financial assets:
Cash and cash equivalents:
Money market account				$	241,157	$	—	$	—	$	241,157











Total financial assets				$	241,157	$	—	$	—	$	241,157

Schedule of Contractual Maturities of Marketable Securities

The following table summarizes the contractual maturities of marketable securities as of December 31, 2022:


	Amortized cost		Aggregate fair value

	(In thousands)
Financial assets:
Less than one year	$	70,917	$	71,231

Total	$	70,917	$	71,231

Financial Statement Components (Tables)

12 Months Ended

Dec. 31, 2022

Financial Statement Components [Abstract]

Schedule of Accounts Receivable, net of Allowances

Accounts receivable, net of allowances consist of the following:


	As of December 31,
	2022		2021

	(In thousands)
Trade accounts receivable	$	40,332	$	31,036
Unbilled accounts receivable	33,863		31,786
Allowance for doubtful accounts and reserve for expected credit losses	(1,191)		(1,661)
Other accounts receivable	1,461		411
Total accounts receivable, net	$	74,465	$	61,572

Components of allowance for doubtful accounts and reserve for expected credit losses are as follows:


	Year ended December 31,
		2022		2021

		(In thousands)
Allowance for doubtful accounts:
Balance, beginning of period		$	(1,661)	$	(1,203)
Charged to bad debt expense, net of reversals		(543)		(913)
Deductions (1)		983		416
Impact of foreign currency translation		30		39



Balance, end of period		$	(1,191)	$	(1,661)

________________________

(1) Write-off of uncollectible accounts after all collection efforts have been exhausted.

Schedule of Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following:


	As of December 31,
	2022		2021

	(In thousands)
Accrued expense	$	29,990	$	31,264
Accrued compensation and benefits	21,595		19,042
Accrued sales, use, VAT and telecommunications related taxes	7,799		11,046

Current portion of finance lease	143		177

Income tax payable	2,235		3,420
Other accrued expenses	815		972
Total accrued expenses and other current liabilities	$	62,577	$	65,921

Right-of-Use Asset and Lease Liabilities (Tables)

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Components of Lease Expense and Supplemental Cash Flow and Other Information

The components of lease expense recorded in the consolidated statement of operations were as follows:


	Year ended December 31,
		2022		2021		2020

		(In thousands)
Operating lease cost		$	7,750	$	6,818	$	5,949
Finance lease cost:
Depreciation of assets		183		218		20
Interest on lease liabilities		14		18		2


Sublease income		(206)		(384)		(384)
Total net lease cost		$	7,741	$	6,670	$	5,587

Supplemental cash flow and other information related to leases was as follows:


	Year ended December 31,
		2022			2021			2020

		(In thousands)
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases		$	7,580		$	6,227		$	5,301

Financing cash flows from finance leases		190			212			28
		$	7,770		$	6,439		$	5,329

Weighted average remaining lease term (in years)
Operating leases		2.12			2.95			3.79
Finance leases		2.53			2.44			2.99

Weighted average discount rate
Operating leases		4.58		%	4.78		%	4.81		%
Finance leases		5.48		%	3.91		%	4.00		%

Schedule of Supplemental Balance Sheet Lease Information

Supplemental balance sheet information related to leases was as follows:


		As of December 31,
Leases	Classification	2022		2021

		(In thousands)
Assets:
Operating lease assets	Operating right-of-use asset, net (1)	$	9,993	$	14,061
Finance lease assets	Property, plant and equipment, net (2)	307		373
Total leased assets		$	10,300	$	14,434

Liabilities:
Current
Operating	Operating lease liability, current	$	7,450	$	5,807
Finance	Accrued expenses and other current liabilities	143		177
Non-current
Operating	Operating lease liability, net of current portion	4,640		10,958
Finance	Other liabilities	172		202
Total lease liabilities		$	12,405	$	17,144

________________________

(1) Operating lease assets are recorded net of accumulated amortization of $17.7 million and $14.8 million as of December 31, 2022 and 2021, respectively.

(2) Finance lease assets are recorded net of accumulated depreciation of $0.3 million and $0.2 million as of December 31, 2022 and 2021, respectively.

Schedule of Maturities of Operating Lease Liabilities

Maturities of lease liabilities were as follows:


	As of December 31, 2022

	Operating Leases		Finance Leases

	(In thousands)

2023	$	7,809	$	162
2024	2,614		104
2025	1,587		51
2026	655		21


Total lease payments	12,665		338
Less: imputed interest	(575)		(23)

Total lease obligations	12,090		315
Less: current obligations	(7,450)		(143)
Long-term lease obligations	$	4,640	$	172

Schedule of Maturities of Finance Lease Liabilities

Maturities of lease liabilities were as follows:


	As of December 31, 2022

	Operating Leases		Finance Leases

	(In thousands)

2023	$	7,809	$	162
2024	2,614		104
2025	1,587		51
2026	655		21


Total lease payments	12,665		338
Less: imputed interest	(575)		(23)

Total lease obligations	12,090		315
Less: current obligations	(7,450)		(143)
Long-term lease obligations	$	4,640	$	172

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment, Net

Depreciation and amortization is calculated on a straight-line basis over the estimated useful lives of those assets as follows:


Computer hardware and software			1 to 7 years
Internal-use software development costs			4 to 7 years
Furniture and fixtures			2 to 5 years
Land			Indefinite
Leasehold improvements			Shorter of the estimated lease term or 4 to 7 years

Property, plant and equipment, net consisted of the following:


	As of December 31,
	2022		2021

	(In thousands)
Furniture and fixtures	$	16,494	$	2,240
Computer and office equipment	14,160		5,419
Telecommunications equipment	80,251		76,963
Leasehold improvements	6,410		6,970
Software	7,051		6,942
Internal-use software development	23,677		22,917
Automobile	665		616
Land	23,090		17,269
Total cost	171,798		139,336
Less—accumulated depreciation	(72,045)		(69,732)
Total property, plant and equipment, net	$	99,753	$	69,604

Schedule of Depreciation Expense

The Company recognized depreciation expense, which includes amortization of capitalized software development costs, as follows:


	Year ended December 31,
		2022		2021		2020

		(In thousands)
Cost of revenue		$	13,602	$	12,606	$	9,997
Research and development		2,311		2,166		1,446
Sales and marketing		1,331		1,090		1,275
General and administrative		1,175		1,661		419
Total depreciation expense		$	18,419	$	17,523	$	13,137

Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The changes in carrying amount of goodwill were as follows:


	Total

	(In thousands)
Balance as of December 31, 2020	$	372,239
Measurement period adjustment	999
Impact of foreign currency translation	(28,815)
Balance as of December 31, 2021	344,423

Impact of foreign currency translation	(18,018)
Balance as of December 31, 2022	$	326,405

Schedule of Finite Lived Intangible Assets

Intangible assets, net consisted of the following as of December 31, 2022:


	Gross Amount		Accumulated Amortization		Net Carrying Value		Amortization Period

	(In thousands)						(In years)
Customer relationships	$	141,146	$	(25,037)	$	116,109	15 - 20



Developed technology	77,409		(16,772)		60,637		10
Other, definite lived	2,828		(2,828)		—		2 - 7
Licenses, indefinite lived	624		—		624		Indefinite







Total intangible assets, net	$	222,007	$	(44,637)	$	177,370

Intangible assets, net consisted of the following as of December 31, 2021:


	Gross Amount		Accumulated Amortization		Net Carrying Value		Amortization Period

	(In thousands)						(In years)
Customer relationships	$	155,081	$	(16,861)	$	138,220	15 - 20



Developed technology	82,548		(10,315)		72,233		10
Other, definite lived	3,158		(3,158)		—		2 - 7
Licenses, indefinite lived	764		—		764		Indefinite







Total intangible assets, net	$	241,551	$	(30,334)	$	211,217

Schedule of Infinite Lived Intangible Assets

Intangible assets, net consisted of the following as of December 31, 2022:


	Gross Amount		Accumulated Amortization		Net Carrying Value		Amortization Period

	(In thousands)						(In years)
Customer relationships	$	141,146	$	(25,037)	$	116,109	15 - 20



Developed technology	77,409		(16,772)		60,637		10
Other, definite lived	2,828		(2,828)		—		2 - 7
Licenses, indefinite lived	624		—		624		Indefinite







Total intangible assets, net	$	222,007	$	(44,637)	$	177,370

Intangible assets, net consisted of the following as of December 31, 2021:


	Gross Amount		Accumulated Amortization		Net Carrying Value		Amortization Period

	(In thousands)						(In years)
Customer relationships	$	155,081	$	(16,861)	$	138,220	15 - 20



Developed technology	82,548		(10,315)		72,233		10
Other, definite lived	3,158		(3,158)		—		2 - 7
Licenses, indefinite lived	764		—		764		Indefinite







Total intangible assets, net	$	241,551	$	(30,334)	$	211,217

Schedule of Amortization Expense

The Company recognized amortization expense as follows:


	Year ended December 31,
		2022		2021		2020

		(In thousands)
Cost of revenue		$	7,657	$	8,543	$	1,445

Sales and marketing		9,523		10,576		2,221

Total amortization expense		$	17,180	$	19,119	$	3,666

Schedule of Future Estimated Amortization Expense

Future estimated amortization expense for definite lived intangible assets is as follows:


	As of December 31, 2022


	(In thousands)

2023	$	16,977
2024	16,977
2025	16,977
2026	16,977
2027	16,977

Thereafter	91,861
	$	176,746

- Definition

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

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+ Details

Debt (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Schedule of Net Carrying Amount of Liability and Equity Component of Notes

The net carrying amount of the liability components of the 2026 Convertible Notes and the 2028 Convertible Notes were as follows:


	As of December 31,
	2022		2021

2026 Convertible Notes:	(In thousands)
Principal	$	240,000	$	400,000
Unamortized discount	N/A		(92,034)
Unamortized debt issuance costs	(3,805)		(6,043)
2026 Convertible Notes net carrying amount	$	236,195	$	301,923

2028 Convertible Notes:
Principal	$	250,000	$	250,000
Unamortized discount	N/A		(60,488)
Unamortized debt issuance costs	(5,649)		(4,995)
2028 Convertible Notes net carrying amount	$	244,351	$	184,517
Total net carrying amount	$	480,546	$	486,440

The net carrying amount of the equity components of the 2026 and 2028 Convertible Notes were as follows:


	As of December 31,
	2022	2021

2026 Convertible Notes:	(In thousands)
Proceeds allocated to the conversion options (debt discount)	N/A	$	125,152
Issuance costs	N/A	(3,742)
2026 Convertible Notes net carrying amount	N/A	$	121,410

2028 Convertible Notes:
Proceeds allocated to the conversion options (debt discount)	N/A	$	66,908
Issuance costs	N/A	(2,019)
2028 Convertible Notes net carrying amount	N/A	$	64,889
Total net carrying amount	N/A	$	186,299

Schedule of Interest Income and Interest Expense Disclosure

The following table sets forth the interest expense recognized related to the 2026 and 2028 Convertible Notes:


	Year ended December 31,
		2022		2021

2026 Convertible Notes:		(In thousands)
Contractual interest expense		$	997	$	1,000
Amortization of debt discount (1)		N/A		18,505
Amortization of debt issuance costs		1,915		1,214
Total interest expense related to the 2026 Convertible Notes		$	2,912	$	20,719

2028 Convertible Notes:
Contractual interest expense		$	1,250	$	991
Amortization of debt discount (1)		N/A		6,419
Amortization of debt issuance costs		1,062		532
Total interest expense related to the 2028 Convertible Notes		$	2,312	$	7,942
Total interest expense		$	5,224	$	28,661

________________________

Geographic Information (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Schedule of Revenue by Geographical Area

The Company generates its revenue primarily in the United States. Revenue by geographic area is detailed in the table below (which is determined based on the customer billing address):


	Year ended December 31,
		2022		2021		2020

		(In thousands)
United States		$	514,036	$	433,463	$	324,449
International		59,116		57,444		18,664
Total		$	573,152	$	490,907	$	343,113

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Schedule of Reserved Shares of Common Stock for Issuance

The Company had reserved shares of Class A common stock for issuance under stock-based award agreements as follows:


	As of December 31,
	2022	2021
Stock options issued and outstanding	159,741	180,209
Nonvested restricted stock units issued and outstanding	2,607,106	344,486
Stock-based awards available for grant under the 2017 Plan	1,879,368	3,060,674
	4,646,215	3,585,369

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

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+ Details

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

The following summarizes the stock option activity for the periods presented:


	Number of options outstanding	Weighted- average exercise price (Per share)		Weighted- average remaining contract life (In years)	Aggregate intrinsic value (In thousands)
Outstanding as of December 31, 2021	180,209	$	10.14	3.39	$	11,104
Granted	—	—
Exercised	(20,468)	7.95
Forfeited or cancelled	—	—
Outstanding as of December 31, 2022	159,741	$	10.42	2.57	$	2,001

Options vested and exercisable at December 31, 2022	159,741	$	10.42	2.57	$	2,001
Options vested and expected to vest as of December 31, 2022	159,741	$	10.42	2.57	$	2,001


	Year ended December 31,
		2022		2021		2020

		(In thousands)
Aggregate intrinsic value of stock options exercised		$	635	$	9,297	$	54,088
Total estimated grant date fair value of options vested		—		247		416

Schedule of Restricted Stock Unit Activity

The following summarizes the RSU activity for the period presented:


	Number of awards outstanding	Weighted-average grant date fair value (Per share)
Nonvested RSUs as of December 31, 2021	344,486	$	82.38
Granted	2,631,931	30.43
Vested	(231,234)	65.03
Forfeited or cancelled	(138,077)	67.35
Nonvested RSUs as of December 31, 2022	2,607,106	$	32.33

Schedule of Stock-Based Compensation Expense

The Company recognized total stock-based compensation expense as follows:


	Year ended December 31,
		2022		2021		2020

		(In thousands)
Cost of revenue		$	404	$	364	$	306
Research and development		7,523		3,681		3,030
Sales and marketing		2,808		2,225		1,834
General and administrative		9,920		8,267		4,711
Total		$	20,655	$	14,537	$	9,881

Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2022

Retirement Benefits [Abstract]

Schedule of Projected Benefit Obligation and Plan Assets Changes

The following table summarizes information for the pension plans:


	As of December 31,
	2022		2021

	(In thousands)
Change in benefit obligation:
Benefit obligation at beginning of year	$	3,874	$	4,064
Service cost	268		396
Interest cost	35		21
Actuarial gain	(418)		(237)
Taxes, insurance premiums and administrative expenses	(50)		(55)

Impact of foreign currency translation	(207)		(315)
Benefit obligation at end of year	$	3,502	$	3,874

Change in plan assets:
Fair value of plan assets at beginning of year	$	2,958	$	2,882
Return on plan assets	26		14
Actuarial gain	72		6
Employer contribution	332		335

Taxes, insurance premiums and administrative expenses	(50)		(55)
Impact of foreign currency translation	(157)		(224)
Fair value of plan assets at end of year	3,181		2,958
Funded status, net liability	$	321	$	916

The following table presents the balance sheet location of the Company’s pension liability for the Company’s non-U.S. defined benefit pension plans:


	As of December 31,
	2022		2021

	(In thousands)
Other liabilities	$	321	$	916

Schedule of Defined Benefit Plan With Accumulated Benefit Obligation in Excess of Plan Assets

The following table summarizes information for the Company’s pension plans with an accumulated benefit obligation in excess of plan assets:


	As of December 31,
	2022		2021

	(In thousands)
Projected benefit obligation	$	3,502	$	3,874
Accumulated benefit obligation	3,265		3,282
Fair value of plan assets	3,181		2,958

Schedule of Accumulated Benefit Obligation in Excess of Plan Assets

Pretax amounts for net periodic benefit cost and other amounts for the defined benefit pension plans consisted of the following components:


	Year ended December 31,
	2022		2021		2020

	(In thousands)
Service cost	$	268	$	396	$	75
Interest cost	35		21		3
Return on plan assets	(26)		(14)		(8)
Net periodic pension cost	277		403		70
Changes in plan assets and benefit obligations included in other comprehensive loss:
Unrecognized net actuarial (gain) loss beginning of year	(227)		17		—
Actuarial (gain) loss on benefit obligation	(418)		(237)		15
Actuarial (gain) loss on fair value of plan assets	(72)		(6)		2
Impact of foreign currency translation	12		(1)		—

Total included in other comprehensive loss (before tax effect)	(705)		(227)		17
Total recognized in net periodic benefit cost and included in other comprehensive loss	$	(428)	$	176	$	87

Schedule Significant Pension Benefit Costs Assumptions

Significant assumptions used in determining benefit obligations and net periodic benefit cost are as follows:


	Year ended December 31,
	2022		2021		2020
Defined benefit obligations:
Discount rate	3.80	%	0.90	%	0.50	%
Rate of salary increase	4.67	%	4.27	%	4.07	%
Inflation	2.30	%	1.80	%	1.60	%

Defined benefit cost:
Discount rate	3.80	%	0.90	%	1.50	%
Rate of salary increase	4.67	%	4.27	%	4.37	%
Rate of return on plan assets	1.20	%	0.90	%	0.50	%
Inflation	2.30	%	1.80	%	1.90	%

Schedule of Major Categories of Plan Assets

The major categories of plan assets are as follows:


	As of December 31,
	2022		2021

	(In thousands)
Assets held by:
Insurance companies (collective and individual)	$	3,181	$	2,958

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Domestic and Foreign Components of Income (Loss)

The following table presents domestic and foreign components of income (loss) before income taxes for the tax years ended December 31, 2022, 2021 and 2020:


	Year Ended December 31,
	2022		2021		2020

	(In thousands)
United States	$	30,594	$	(27,547)	$	(25,745)
International	(13,288)		(3,648)		(3,227)
Income (loss) before income taxes	$	17,306	$	(31,195)	$	(28,972)

Schedule of (Provision) Benefit for Income Taxes from Continuing Operations

Benefit (provision) for income taxes from operations consists of the following:


	Year Ended December 31,

	2022		2021		2020

	(In thousands)
Current:
Federal	$	(2,717)	$	(2,713)	$	431
State	(803)		(145)		(87)
Foreign	(815)		(1,627)		(1,083)
Total	(4,335)		(4,485)		(739)
Deferred:
Federal	1,004		(364)		(9,847)
State	(1)		—		(5,176)
Foreign	5,596		8,682		757
Total	6,599		8,318		(14,266)
Income tax benefit (provision)	$	2,264	$	3,833	$	(15,005)

Schedule of Effective Income Tax Rate Reconciliation

The following table presents a reconciliation of the statutory federal tax rate and the Company’s effective tax rate for the years ended December 31, 2022, 2021 and 2020:


	Year Ended December 31,
	2022		2021		2020
Federal Tax Rate	21.0	%	21.0	%	21.0	%
State Tax Rate - statutory blended rate	4.3		4.2		4.1
Other effective state tax adjustments	3.6		(1.4)		(2.1)
Non-deductible expenses	4.0		(6.1)		(9.2)
Research tax benefits	(31.6)		7.9		10.5
Stock-based compensation	6.3		13.9		46.8
Change in valuation allowance	(16.1)		16.3		(123.4)
Deferred tax rate change	0.5		(0.2)		0.2
Voxbone US 338(g) gain	—		(8.9)		—
Intangibles and deferred adjustments	(4.7)		(40.2)		—
Foreign rate differential	1.6		1.3		—
Other	(2.0)		4.5		0.3
Total	(13.1)	%	12.3	%	(51.8)	%

Schedule of Significant Components of Deferred Tax Assets and Liabilities

The following table presents the significant components of the Company’s net deferred tax liability:


	As of December 31,
	2022		2021

	(In thousands)
Deferred tax assets:
Allowance for doubtful accounts	$	173	$	262
Accrued liabilities	4,370		3,412
Operating lease liabilities	3,456		3,456
Deferred revenue	1,949		1,880

Stock-based compensation - deferred tax asset	3,216		2,278
OID	—		8,848
Section 174	20,997		—
Accrued lease incentive	2,645		—
Tax credits	10,948		9,214
Net operating losses	25,691		50,285
Other deferred tax assets	4,592		4,166
Gross deferred tax assets	78,037		83,801
Less: valuation allowance	(65,678)		(32,224)
Total deferred tax assets	12,359		51,577
Deferred tax liabilities:
Property, plant and equipment	4,890		7,813
Goodwill	1,272		1,130
Intangibles	41,591		49,470
Operating lease assets	3,072		2,860
Debt	—		38,411
Other liability	—		289
Total deferred tax liabilities	50,825		99,973
Net deferred tax liability	$	(38,466)	$	(48,396)

Schedule of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:


	Year Ended December 31,
	2022		2021

	(In thousands)
Unrecognized tax benefits—January 1,	$	3,062	$	2,414
Gross increases—tax positions in prior period	613		—

Gross increases—tax positions in current period	1,125		648


Unrecognized tax benefits—December 31,	$	4,800	$	3,062

Basic and Diluted Income (Loss) per Common Share (Tables)

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The components of basic and diluted income (loss) per share are as follows:


	Year ended December 31,
		2022		2021		2020

		(In thousands, except share and per share amounts)
Earnings per share


Net income (loss) attributable to common stockholders		$	19,570	$	(27,362)	$	(43,977)
Net income (loss) per share:
Basic		$	0.77	$	(1.09)	$	(1.83)
Diluted		$	(0.48)	$	(1.09)	$	(1.83)
Numerator used to compute net income (loss) per share:
Basic		$	19,570	$	(27,362)	$	(43,977)
Net gain on extinguishment of debt, net of taxes		(39,614)		—		—
Interest expense on convertible notes, net of taxes		5,147		—		—
Diluted (1)		$	(14,897)	$	(27,362)	$	(43,977)














Weighted average number of common shares outstanding:
Basic		25,282,796		25,090,916		24,092,574

Convertible debt conversion		5,625,073		—		—



Diluted		30,907,869		25,090,916		24,092,574

________________________

Schedule of Anti-dilutive Common Shares Excluded from Calculation of Net Loss

The following common share equivalents were excluded from the weighted average shares used to calculate net income (loss) per common share because their effects would have been anti-dilutive:


	As of December 31,
	2022	2021	2020
Stock options issued and outstanding	159,741	180,209	255,000
Restricted stock units issued and outstanding	2,607,106	344,486	450,614
Convertible senior notes (1) (2)	5,625,073	987,149	1,022,941
Total	8,391,920	1,511,844	1,728,555

________________________

Organization and Description of Business (Details) - segment	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments	1	1

Summary of Significant Accounting Policies - Schedule of Changes in Costs to Prior Periods (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reclassification [Line Items]
Cost of revenue	$ 334,799	$ 277,094	$ 189,203
Research and development	97,990	69,505	54,555
Sales and marketing	96,658	82,333	61,216
General and administrative	$ 68,029	64,212	51,644
As previously reported
Reclassification [Line Items]
Cost of revenue		272,384	185,252
Research and development		55,173	42,059
Sales and marketing		51,817	40,552
General and administrative		$ 113,770	$ 88,755

Summary of Significant Accounting Policies - Use of Estimates (Details)	Dec. 31, 2022
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Change in Accounting Estimate [Line Items]
Remaining performance obligation period	12 months

Summary of Significant Accounting Policies - Revenue Recognition (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Concentration Risk [Line Items]
Revenue	$ 573,152	$ 490,907	$ 343,113
Recognized revenue	5,700
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Concentration Risk [Line Items]
Remaining performance obligation, amount	$ 7,200
Remaining performance obligation period	12 months
CPaaS, Usage-Based Fees
Concentration Risk [Line Items]
Revenue	$ 445,700	392,500	260,600
CPaaS, Service Fees
Concentration Risk [Line Items]
Revenue	116,900	91,100	76,500
Other miscellaneous services
Concentration Risk [Line Items]
Revenue	$ 10,600	$ 7,300	$ 6,000

- 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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI https://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Summary of Significant Accounting Policies - Schedule of Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Receivables	$ 74,465	$ 61,572
Contract liabilities	$ 15,487	$ 13,882

Summary of Significant Accounting Policies - Accounts Receivable and Current Expected Credit Losses (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Allowance for doubtful accounts	$ 1,191	$ 1,661
Unbilled accounts receivable	$ 33,863	$ 31,786

Summary of Significant Accounting Policies - Concentration of Credit Risk (Details)	12 Months Ended
	Dec. 31, 2021
One customer \| Individual customer \| Accounts receivable, net of allowance for doubtful accounts
Concentration Risk [Line Items]
Concentration risk (as a percent)	10.00%

Summary of Significant Accounting Policies - Property and Equipment, net, Deferred Costs and Internal-Use Software Development Costs (Details)	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Capitalized contract cost, amortization period	4 years
Computer hardware and software \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	1 year
Computer hardware and software \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	7 years
Internal-use software development costs \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	4 years
Capitalized contract cost, amortization period	4 years
Internal-use software development costs \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	7 years
Capitalized contract cost, amortization period	7 years
Furniture and fixtures \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	2 years
Furniture and fixtures \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	5 years
Leasehold improvements \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	4 years
Leasehold improvements \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	7 years

Summary of Significant Accounting Policies - Goodwill (Details)	12 Months Ended
	Dec. 31, 2022 USD ($) reporting_unit	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Accounting Policies [Abstract]
Reporting units \| reporting_unit	1
Goodwill	$ 326,405,000	$ 344,423,000	$ 372,239,000
Goodwill impairment charges	$ 0	$ 0	$ 0

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Summary of Significant Accounting Policies - Business Combinations (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)
Business Acquisition [Line Items]
Measurement period adjustment	$ 999
Voxbone
Business Acquisition [Line Items]
Measurement period adjustment	1,000
Increase in accrued expenses and other current liabilities	1,000
Holdback release payment	7,600
Holdback released from escrow	7,400
Interest earned	$ 200

Summary of Significant Accounting Policies - Advertising Costs (Details) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2022 segment	Dec. 31, 2022 USD ($) segment	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Advertising costs		$ 1.5	$ 1.8	$ 1.6
Number of operating segments \| segment	1	1
Foreign currency transaction gains (less than)		$ (0.2)	$ 0.1	$ 0.1
Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Service period		3 years
Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Service period		4 years

Summary of Significant Accounting Policies - Recently Adopted Accounting Standards (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Jan. 01, 2022
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accumulated deficit	$ 48,547	$ 76,867
Additional paid-in capital	(364,913)	(502,477)
Deferred tax liability	(38,466)	(48,396)
Convertible senior notes	480,546	486,440
Interest expense, debt	5,224	$ 28,661
Accounting Standards Update 2020-06 \| Cumulative effect of adoption, adjusted balance
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accumulated deficit	29,000		$ 8,800
Additional paid-in capital	(30,000)		156,200
Deferred tax liability	1,000		1,000
Convertible senior notes			$ 148,400
Interest expense, debt	$ 27,500

Fair Value Measurements - Assets Measured at Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 113,641	$ 331,453
Amortized cost	70,917
Unrealized gains	426
Unrealized losses	(112)
Total marketable securities	71,231
Total financial assets	135,899
Money market account
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	36,728
Time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized cost	6,645
Unrealized gains	0
Unrealized losses	(15)
U.S. treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized cost	14,718
Unrealized gains	74
Unrealized losses	0
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized cost	23,412
Unrealized gains	0
Unrealized losses	(97)
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	28,254
Amortized cost	26,142
Unrealized gains	352
Unrealized losses	0
Total included in cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	64,982
Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	71,231
Total financial assets	136,213	241,157
Recurring \| Money market account
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	36,728	241,157
Recurring \| Time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	6,630
Recurring \| U.S. treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	14,792
Recurring \| Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	23,315
Recurring \| Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	28,254
Total marketable securities	26,494
Recurring \| Total included in cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	64,982
Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	47,916
Total financial assets	112,898	241,157
Recurring \| Level 1 \| Money market account
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	36,728	241,157
Recurring \| Level 1 \| Time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	6,630
Recurring \| Level 1 \| U.S. treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	14,792
Recurring \| Level 1 \| Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0
Recurring \| Level 1 \| Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	28,254
Total marketable securities	26,494
Recurring \| Level 1 \| Total included in cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	64,982
Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	23,315
Total financial assets	23,315	0
Recurring \| Level 2 \| Money market account
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Recurring \| Level 2 \| Time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0
Recurring \| Level 2 \| U.S. treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0
Recurring \| Level 2 \| Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	23,315
Recurring \| Level 2 \| Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0
Total marketable securities	0
Recurring \| Level 2 \| Total included in cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0
Recurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0
Total financial assets	0	0
Recurring \| Level 3 \| Money market account
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	$ 0
Recurring \| Level 3 \| Time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0
Recurring \| Level 3 \| U.S. treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0
Recurring \| Level 3 \| Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0
Recurring \| Level 3 \| Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0
Total marketable securities	0
Recurring \| Level 3 \| Total included in cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 0

Fair Value Measurements - Contractual Maturities of Marketable Securities (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Amortized cost
Less than one year	$ 70,917
Total	70,917
Aggregate fair value
Less than one year	71,231
Total	$ 71,231

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Maturities of marketable securities	$ 74,300	$ 0	$ 0
Proceeds from sale of marketable securities	34,400	0	0
Interest earned on marketable securities (less than)	1,200	$ 0	$ 0
Accrued interest, after allowance for credit loss	$ 300
Financing Receivable, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration]	Prepaid expenses and other current assets	Prepaid expenses and other current assets
Pension Plan
Debt Instrument [Line Items]
Fair value of plan assets	$ 3,200	$ 3,000
Convertible notes \| 2026 Convertible Notes:
Debt Instrument [Line Items]
Fair value	180,900	427,100
Convertible notes \| 2028 Convertible Notes:
Debt Instrument [Line Items]
Fair value	$ 156,500	$ 194,200

Financial Statement Components - Schedule of Accounts Receivable, net of Allowances (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Financial Statement Components [Abstract]
Trade accounts receivable	$ 40,332	$ 31,036
Unbilled accounts receivable	33,863	31,786
Allowance for doubtful accounts and reserve for expected credit losses	(1,191)	(1,661)
Other accounts receivable	1,461	411
Total accounts receivable, net	$ 74,465	$ 61,572

Financial Statement Components - Allowance For Doubtful Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Allowance for Doubtful Accounts Receivable [Roll Forward]
Balance, beginning of period	$ (1,661)	$ (1,203)
Charged to bad debt expense, net of reversals	(543)	(913)
Deductions	983	416
Impact of foreign currency translation	30	39
Balance, end of period	$ (1,191)	$ (1,661)

Financial Statement Components - Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Financial Statement Components [Abstract]
Accrued expense	$ 29,990	$ 31,264
Accrued compensation and benefits	21,595	19,042
Accrued sales, use, VAT and telecommunications related taxes	7,799	11,046
Current portion of finance lease	143	177
Income tax payable	2,235	3,420
Other accrued expenses	815	972
Total accrued expenses and other current liabilities	$ 62,577	$ 65,921

Right-of-Use Asset and Lease Liabilities - Additional Information (Details)				12 Months Ended
	Jun. 05, 2021 USD ($) a	Jun. 04, 2021 USD ($) a	May 27, 2021 USD ($) ft² lease	Dec. 31, 2022 USD ($) ft² lease	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Lessee, Lease, Description [Line Items]
Option to extend, term (up to)				5 years
Number of leases with early-termination option \| lease				1
Short-term operating lease expense				$ 600,000	$ 1,300,000	$ 200,000
Consideration for the proposed Land purchase				0	30,017,000	0
Proceeds from sale of land				0	17,462,000	0
Right-of-use assets obtained in exchange for new operating lease liabilities				$ 3,421,000	$ 526,000	$ 3,105,000
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term (in years)				5 months
Property
Lessee, Lease, Description [Line Items]
Land (acres) \| a	17.06	40
Consideration for the proposed Land purchase		$ 30,000,000
Lease incentive				$ 10,500,000
Property \| Developer
Lessee, Lease, Description [Line Items]
Area of land sold (acres) \| a	23.76
Proceeds from sale of land	$ 17,500,000
Lease not yet commenced
Lessee, Lease, Description [Line Items]
Office space (in square foot) \| ft²			534,000
Term of lease			20 years
Number of option to extend \| lease			2
Term of option to extend			10 years
Market rental rate (as a percent)			100.00%
Escrow to fund			$ 21,700,000
Right-of-use assets obtained in exchange for new operating lease liabilities				$ 0
Lease not yet commenced \| Developer
Lessee, Lease, Description [Line Items]
Security deposit			$ 2,500,000
Relay, Inc
Lessee, Lease, Description [Line Items]
Sublease area (in square foot) \| ft²				17,073

Right-of-Use Asset and Lease Liabilities - Components of Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating lease cost	$ 7,750	$ 6,818	$ 5,949
Depreciation of assets	183	218	20
Interest on lease liabilities	14	18	2
Sublease income	(206)	(384)	(384)
Total net lease cost	$ 7,741	$ 6,670	$ 5,587

Right-of-Use Asset and Lease Liabilities - Supplemental Balance Sheet Lease Information (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Assets:
Operating lease assets	$ 9,993	$ 14,061
Finance lease assets	307	373
Total leased assets	10,300	14,434
Current
Operating	7,450	5,807
Finance	143	177
Non-current
Operating	4,640	10,958
Finance	172	202
Total lease liabilities	$ 12,405	$ 17,144
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued expenses and other current liabilities	Accrued expenses and other current liabilities
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other liabilities	Other liabilities
Accumulated amortization	$ 17,700	$ 14,800
Accumulated depreciation of assets under finance leases	$ 300	$ 200

Right-of-Use Asset and Lease Liabilities - Supplemental Cash Flow and Other Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$ 7,580	$ 6,227	$ 5,301
Financing cash flows from finance leases	190	212	28
Lease liabilities	$ 7,770	$ 6,439	$ 5,329
Weighted average remaining lease term (in years)
Operating leases	2 years 1 month 13 days	2 years 11 months 12 days	3 years 9 months 14 days
Finance leases	2 years 6 months 10 days	2 years 5 months 8 days	2 years 11 months 26 days
Weighted average discount rate
Operating leases	4.58%	4.78%	4.81%
Finance leases	5.48%	3.91%	4.00%

Right-of-Use Asset and Lease Liabilities - Schedule of Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Operating Leases
2023	$ 7,809
2024	2,614
2025	1,587
2026	655
Total lease payments	12,665
Less: imputed interest	(575)
Total lease obligations	12,090
Less: current obligations	(7,450)	$ (5,807)
Long-term lease obligations	4,640	10,958
Finance Leases
2023	162
2024	104
2025	51
2026	21
Total lease payments	338
Less: imputed interest	(23)
Total lease obligations	315
Less: current obligations	(143)	(177)
Long-term lease obligations	$ 172	$ 202

Property, Plant and Equipment - Summary of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Total cost	$ 171,798	$ 139,336
Less—accumulated depreciation	(72,045)	(69,732)
Total property, plant and equipment, net	99,753	69,604
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total cost	16,494	2,240
Computer and office equipment
Property, Plant and Equipment [Line Items]
Total cost	14,160	5,419
Telecommunications equipment
Property, Plant and Equipment [Line Items]
Total cost	80,251	76,963
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total cost	6,410	6,970
Software
Property, Plant and Equipment [Line Items]
Total cost	7,051	6,942
Internal-use software development
Property, Plant and Equipment [Line Items]
Total cost	23,677	22,917
Automobile
Property, Plant and Equipment [Line Items]
Total cost	665	616
Land
Property, Plant and Equipment [Line Items]
Total cost	$ 23,090	$ 17,269

Property, Plant and Equipment - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Unamortized software development costs	$ 8.4	$ 7.5
Capitalized software development costs, additions	3.8	3.9	$ 2.3
Amortization of capitalized software development costs	2.2	1.8	2.0
Capitalized implementation costs related to cloud computing arrangements	0.3
Cost of assets under finance leases	0.7	0.6
Accumulated depreciation of assets under finance leases	0.3	0.2
Capitalized software impairments	0.5	$ 0.5	$ 0.2
Prepaid expenses and other current assets
Property, Plant and Equipment [Line Items]
Capitalized implementation costs related to cloud computing arrangements	0.1
Other long-term assets
Property, Plant and Equipment [Line Items]
Capitalized implementation costs related to cloud computing arrangements	$ 0.2

Property, Plant and Equipment - Depreciation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Total depreciation expense	$ 18,419	$ 17,523	$ 13,137
Cost of revenue
Property, Plant and Equipment [Line Items]
Total depreciation expense	13,602	12,606	9,997
Research and development
Property, Plant and Equipment [Line Items]
Total depreciation expense	2,311	2,166	1,446
Sales and marketing
Property, Plant and Equipment [Line Items]
Total depreciation expense	1,331	1,090	1,275
General and administrative
Property, Plant and Equipment [Line Items]
Total depreciation expense	$ 1,175	$ 1,661	$ 419

Goodwill and Intangible Assets - Summary of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Goodwill [Roll Forward]
Beginning balance	$ 344,423	$ 372,239
Measurement period adjustment		999
Impact of foreign currency translation	(18,018)	(28,815)
Ending balance	$ 326,405	$ 344,423

- Definition

+ References + Details

Goodwill and Intangible Assets - Summary of Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	$ (44,637)	$ (30,334)
Net Carrying Value	176,746
Gross Amount	222,007	241,551
Net Carrying Value	177,370	211,217
Licenses, indefinite lived
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Licenses, indefinite lived	624	764
Customer relationships
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross Amount	141,146	155,081
Accumulated Amortization	(25,037)	(16,861)
Net Carrying Value	$ 116,109	$ 138,220
Customer relationships \| Minimum
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Amortization Period	15 years	15 years
Customer relationships \| Maximum
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Amortization Period	20 years	20 years
Developed technology
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross Amount	$ 77,409	$ 82,548
Accumulated Amortization	(16,772)	(10,315)
Net Carrying Value	$ 60,637	$ 72,233
Amortization Period	10 years	10 years
Other, definite lived
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross Amount	$ 2,828	$ 3,158
Accumulated Amortization	(2,828)	(3,158)
Net Carrying Value	$ 0	$ 0
Other, definite lived \| Minimum
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Amortization Period	2 years	2 years
Other, definite lived \| Maximum
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Amortization Period	7 years	7 years

Goodwill and Intangible Assets - Amortization Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Goodwill [Line Items]
Total amortization expense	$ 17,180	$ 19,119	$ 3,666
Cost of revenue
Goodwill [Line Items]
Total amortization expense	7,657	8,543	1,445
Sales and marketing
Goodwill [Line Items]
Total amortization expense	$ 9,523	$ 10,576	$ 2,221

Goodwill and Intangible Assets - Additional Information (Details)	12 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Weighted average useful life	11 years

Goodwill and Intangible Assets - Future Estimated Amortization Expense (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2023	$ 16,977
2024	16,977
2025	16,977
2026	16,977
2027	16,977
Thereafter	91,861
Net Carrying Value	$ 176,746

Debt - Revolving Loan (Details) - USD ($)	Jun. 06, 2022	Dec. 31, 2022
Debt Instrument [Line Items]
Outstanding unamortized loan fees		$ 400,000
Prepaid expenses and other current assets
Debt Instrument [Line Items]
Outstanding unamortized loan fees		200,000
Other long-term assets
Debt Instrument [Line Items]
Outstanding unamortized loan fees		200,000
Line of Credit \| Revolving Loan \| Silicon Valley Bank Credit Facility
Debt Instrument [Line Items]
Borrowing capacity	$ 50,000,000
Unused portion of borrowing commitment	0.0625%
Minimum liquidity	$ 70,000,000
Line of credit		0
Available borrowing capacity		$ 50,000,000
Line of Credit \| Revolving Loan \| Silicon Valley Bank Credit Facility \| Minimum \| SOFR
Debt Instrument [Line Items]
Basis spread on variable rate	1.50%
Line of Credit \| Revolving Loan \| Silicon Valley Bank Credit Facility \| Minimum \| Base rate
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%
Line of Credit \| Revolving Loan \| Silicon Valley Bank Credit Facility \| Maximum \| SOFR
Debt Instrument [Line Items]
Basis spread on variable rate	2.00%
Line of Credit \| Revolving Loan \| Silicon Valley Bank Credit Facility \| Maximum \| Base rate
Debt Instrument [Line Items]
Basis spread on variable rate	1.00%
Line of Credit \| Credit commitments \| Silicon Valley Bank Credit Facility
Debt Instrument [Line Items]
Borrowing capacity	$ 20,000,000
Line of Credit \| Swing line \| Silicon Valley Bank Credit Facility
Debt Instrument [Line Items]
Borrowing capacity	$ 5,000,000

Debt - 2026 Convertible Notes (Details)			12 Months Ended			15 Months Ended
Debt - 2026 Convertible Notes (Details)	Nov. 28, 2022 USD ($)	Feb. 28, 2020 USD ($) day $ / shares	Dec. 31, 2022 USD ($) $ / shares	Dec. 31, 2021 USD ($) $ / shares	Dec. 31, 2020 USD ($)	Dec. 31, 2022 USD ($) day $ / shares	Nov. 30, 2022 USD ($)	Nov. 29, 2022 USD ($)	Mar. 16, 2021 $ / shares	Jan. 01, 2021 USD ($)
Debt Instrument [Line Items]
Net gain on extinguishment of debt			$ 40,205,000	$ 0	$ 0
Class A voting common stock
Debt Instrument [Line Items]
Common stock, par value (in usd per share) \| $ / shares		$ 0.001	$ 0.001	$ 0.001		$ 0.001			$ 0.001
2026 Convertible Notes:
Debt Instrument [Line Items]
Redemption period scheduled trading day before the maturity date		40 days
Cash redemption price (as a percent)		100.00%
2026 Convertible Notes: \| Convertible notes
Debt Instrument [Line Items]
Principal amount		$ 400,000,000	$ 240,000,000	$ 400,000,000		$ 240,000,000		$ 240,000,000
Stated rate (as a percent)		0.25%
Total net proceeds		$ 344,700,000
Conversion price (in usd per share) \| $ / shares		$ 91.03		$ 91.03
Conversion option		$ 125,200,000
Effective interest rate (as a percent)		6.763%
Carrying amount of equity component		$ 57,500,000
Annual effective interest rate (as a percent)		6.907%
Issuance costs				$ 3,742,000
Repurchased face amount							$ 160,000,000
Repayments of Long-Term Debt	$ 117,200,000
Net gain on extinguishment of debt			$ 40,200,000
2026 Convertible Notes: \| Convertible notes \| Cumulative effect of adoption, adjusted balance \| Accounting Standards Update 2020-06
Debt Instrument [Line Items]
Effective interest rate (as a percent)										0.513%
Issuance costs attributable to the liability component										$ 8,200,000
Issuance costs										$ 3,700,000
2026 Convertible Notes: \| Convertible notes \| Conversion option 2
Debt Instrument [Line Items]
Trading days \| day		5
Consecutive trading days \| day		10
2026 Convertible Notes: \| Convertible notes \| Class A voting common stock
Debt Instrument [Line Items]
Conversion ratio		0.0109857	0.0109857	0.0109857
2026 Convertible Notes: \| Convertible notes \| Class A voting common stock \| Conversion option 1
Debt Instrument [Line Items]
Stock price trigger (as a percent)		130.00%				130.00%
Trading days \| day		20				20
Consecutive trading days \| day		30				30
2026 Convertible Notes: \| Convertible notes \| Class A voting common stock \| Conversion option 2
Debt Instrument [Line Items]
Stock price trigger (as a percent)		98.00%

Debt - 2028 Convertible Notes (Details)		12 Months Ended
Debt - 2028 Convertible Notes (Details)	Mar. 16, 2021 USD ($) day $ / shares	Dec. 31, 2022 USD ($) $ / shares	Dec. 31, 2021 USD ($) $ / shares	Jan. 01, 2021 USD ($)	Feb. 28, 2020 $ / shares
Class A voting common stock
Debt Instrument [Line Items]
Common stock, par value (in usd per share) \| $ / shares	$ 0.001	$ 0.001	$ 0.001		$ 0.001
2028 Convertible Notes: \| Convertible notes
Debt Instrument [Line Items]
Principal amount	$ 250,000,000	$ 250,000,000	$ 250,000,000
Stated rate (as a percent)	0.50%
Total net proceeds	$ 217,000,000
Conversion price (in usd per share) \| $ / shares	$ 179.27		$ 179.27
Cash redemption price (as a percent)	100.00%
Conversion option	$ 66,900,000
Effective interest rate (as a percent)	5.125%
Carrying amount of equity component	$ 39,400,000
Annual effective interest rate (as a percent)	4.959%
Issuance costs			$ 2,019,000
2028 Convertible Notes: \| Convertible notes \| Cumulative effect of adoption, adjusted balance \| Accounting Standards Update 2020-06
Debt Instrument [Line Items]
Effective interest rate (as a percent)				0.442%
Issuance costs attributable to the liability component				$ 5,500,000
Issuance costs				$ 2,000,000
2028 Convertible Notes: \| Convertible notes \| Class A voting common stock
Debt Instrument [Line Items]
Conversion ratio	0.0055781	0.0055781	0.0055781
2028 Convertible Notes: \| Convertible notes \| Conversion option 1
Debt Instrument [Line Items]
Trading days \| day	20
Consecutive trading days \| day	30
2028 Convertible Notes: \| Convertible notes \| Conversion option 1 \| Class A voting common stock
Debt Instrument [Line Items]
Stock price trigger (as a percent)	130.00%
2028 Convertible Notes: \| Convertible notes \| Conversion option 2
Debt Instrument [Line Items]
Trading days \| day	5
Consecutive trading days \| day	10
2028 Convertible Notes: \| Convertible notes \| Conversion option 2 \| Class A voting common stock
Debt Instrument [Line Items]
Stock price trigger (as a percent)	98.00%

Debt - Schedule of Debt (Details) - Convertible notes - USD ($)	Dec. 31, 2022	Nov. 29, 2022	Dec. 31, 2021	Mar. 16, 2021	Feb. 28, 2020
Debt Instrument [Line Items]
Total net carrying amount	$ 480,546,000		$ 486,440,000
Total net carrying amount			186,299,000
2026 Convertible Notes:
Debt Instrument [Line Items]
Principal	240,000,000	$ 240,000,000	400,000,000		$ 400,000,000
Unamortized discount			(92,034,000)
Unamortized debt issuance costs	(3,805,000)		(6,043,000)
Total net carrying amount	236,195,000		301,923,000
Proceeds allocated to the conversion options (debt discount)			125,152,000
Issuance costs			(3,742,000)
Total net carrying amount			121,410,000
2028 Convertible Notes:
Debt Instrument [Line Items]
Principal	250,000,000		250,000,000	$ 250,000,000
Unamortized discount			(60,488,000)
Unamortized debt issuance costs	(5,649,000)		(4,995,000)
Total net carrying amount	$ 244,351,000		184,517,000
Proceeds allocated to the conversion options (debt discount)			66,908,000
Issuance costs			(2,019,000)
Total net carrying amount			$ 64,889,000

Debt - Interest Income and Interest Expense Disclosure (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Total interest expense	$ 5,224	$ 28,661
2026 Convertible Notes:
Debt Instrument [Line Items]
Contractual interest expense	997	1,000
Amortization of debt discount		18,505
Amortization of debt issuance costs	1,915	1,214
Total interest expense	2,912	20,719
2028 Convertible Notes:
Debt Instrument [Line Items]
Contractual interest expense	1,250	991
Amortization of debt discount		6,419
Amortization of debt issuance costs	1,062	532
Total interest expense	$ 2,312	$ 7,942

Debt - Convertible Senior Notes and Capped Call Transactions (Details) - USD ($) $ / shares in Units, $ in Millions	Mar. 16, 2021	Feb. 28, 2020
Debt Instrument [Line Items]
Net cost of capped call purchase	$ 25.5	$ 43.3
Class A voting common stock
Debt Instrument [Line Items]
Capped call shares (in shares)	1,394,525	4,394,276
Convertible notes \| 2026 Convertible Notes
Debt Instrument [Line Items]
Initial conversion strike price (in usd per share)		$ 91.03
Initial cap price (in usd per share)		$ 137.40
Convertible notes \| 2028 Convertible Notes
Debt Instrument [Line Items]
Initial conversion strike price (in usd per share)	$ 179.27
Initial cap price (in usd per share)	$ 260.76

Geographic Information - Reconciliation of Revenue by Geographic Area (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Assets	$ 929,318	$ 1,065,539
Revenue	573,152	490,907	$ 343,113
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	514,036	433,463	324,449
International
Revenues from External Customers and Long-Lived Assets [Line Items]
Assets	10,800	9,200
Revenue	$ 59,116	$ 57,444	$ 18,664

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(11))
-URI https://asc.fasb.org/extlink&oid=126897435&loc=d3e534808-122878

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-Section 55
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-URI https://asc.fasb.org/extlink&oid=84165509&loc=d3e56426-112766

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Section 50
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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(12))
-URI https://asc.fasb.org/extlink&oid=126734703&loc=d3e572229-122910

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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-Subparagraph (a)
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
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Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
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-Paragraph 1A
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
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Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef
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Stockholders' Equity - Preferred Stock (Details) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
Equity [Abstract]
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, par value (in usd per share)	$ 0.001	$ 0.001
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0

Stockholders' Equity - Common Stock (Details)	12 Months Ended
Stockholders' Equity - Common Stock (Details)	Dec. 31, 2022 vote $ / shares shares	Dec. 31, 2021 vote $ / shares shares	Dec. 31, 2020 $ / shares	Mar. 16, 2021 $ / shares	Feb. 28, 2020 $ / shares
Class of Stock [Line Items]
Common stock, dividends declared (in usd per share) \| $ / shares	$ 0	$ 0	$ 0
Stock split conversion ratio	1
Class A voting common stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, par value (in usd per share) \| $ / shares	$ 0.001	$ 0.001		$ 0.001	$ 0.001
Common stock voting rights \| vote	1	1
Common stock, shares issued (in shares)	23,379,000	23,177,988
Common stock, shares outstanding (in shares)	23,379,000	23,177,988
Class B voting common stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	20,000,000	20,000,000
Common stock, par value (in usd per share) \| $ / shares	$ 0.001	$ 0.001
Common stock voting rights \| vote	10	10
Common stock, shares issued (in shares)	1,965,170	1,965,170
Common stock, shares outstanding (in shares)	1,965,170	1,965,170

Stockholders' Equity - Reserved Shares of Common Stock for Issuance (Details) - shares	Dec. 31, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Common stock reserved for future issuance (in shares)	4,646,215	3,585,369
Stock options issued and outstanding
Class of Stock [Line Items]
Common stock reserved for future issuance (in shares)	159,741	180,209
Restricted stock units issued and outstanding
Class of Stock [Line Items]
Common stock reserved for future issuance (in shares)	2,607,106	344,486
Stock-based awards available for grant under the 2017 Plan
Class of Stock [Line Items]
Common stock reserved for future issuance (in shares)	1,879,368	3,060,674

Stock-Based Compensation - Additional Information (Details) - USD ($)				12 Months Ended
	Jan. 01, 2022	Jan. 01, 2018	Nov. 09, 2017	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for future issuance (in shares)				4,646,215	3,585,369
Granted (in shares)				0
Unrecognized cost for stock based compensation				$ 0
Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for future issuance (in shares)				159,741	180,209
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for future issuance (in shares)				2,607,106	344,486
Unrecognized compensation cost related to non-vested RSUs				$ 71,900,000
Unrecognized cost for stock based compensation, period for recognition (in years)				2 years 10 months 6 days
2010 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant (in shares)			0
2017 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for future issuance (in shares)			1,050,000
Common stock reserved for future issuance, percent increase		5.00%
Increase in shares available for grant (in shares)	1,158,899
2017 Plan \| Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contractual life			10 years

Stock-Based Compensation - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Number of options outstanding
Beginning balance (in shares)	180,209
Granted (in shares)	0
Exercised (in shares)	(20,468)
Forfeited or cancelled (in shares)	0
Ending balance (in shares)	159,741	180,209
Options vested and exercisable (in shares)	159,741
Options vested and expected to vest (in shares)	159,741
Weighted- average exercise price (Per share)
Beginning balance (in usd per share)	$ 10.14
Granted (in usd per share)	0
Exercised (in usd per share)	7.95
Forfeited or cancelled (in usd per share)	0
Ending balance (in usd per share)	10.42	$ 10.14
Weighted-average exercise price, Options vested and exercisable (in usd per share)	10.42
Weighted-average exercise price, Options vested and expected to vest (in usd per share)	$ 10.42
Weighted- average remaining contract life (In years)
Outstanding (in years)	2 years 6 months 25 days	3 years 4 months 20 days
Options vested and exercisable at December 31, 2022	2 years 6 months 25 days
Options vested and expected to vest as of December 31, 2022	2 years 6 months 25 days
Aggregate intrinsic value (In thousands)
Options outstanding	$ 2,001	$ 11,104
Options vested and exercisable at December 31, 2022	2,001
Options vested and expected to vest as of December 31, 2022	2,001
Aggregate intrinsic value of stock options exercised	635	9,297	$ 54,088
Total estimated grant date fair value of options vested	$ 0	$ 247	$ 416

Stock-Based Compensation - Restricted Stock Unit Activity (Details) - RSUs	12 Months Ended
	Dec. 31, 2022 $ / shares shares
Number of awards outstanding
Beginning balance (in shares) \| shares	344,486
Granted (in shares) \| shares	2,631,931
Vested (in shares) \| shares	(231,234)
Forfeited or cancelled (in shares) \| shares	(138,077)
Ending balance (in shares) \| shares	2,607,106
Weighted-average grant date fair value (Per share)
Beginning balance (in usd per share) \| $ / shares	$ 82.38
Granted (in usd per share) \| $ / shares	30.43
Vested (in usd per share) \| $ / shares	65.03
Forfeited or cancelled (in usd per share) \| $ / shares	67.35
Ending balance (in usd per share) \| $ / shares	$ 32.33

Stock-Based Compensation - Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 20,655	$ 14,537	$ 9,881
Cost of revenue
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	404	364	306
Research and development
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	7,523	3,681	3,030
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	2,808	2,225	1,834
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 9,920	$ 8,267	$ 4,711

Commitments and Contingencies - Additional Information (Details) $ in Thousands	May 27, 2021 USD ($) lease	Dec. 31, 2022 USD ($)
Lessee, Lease, Description [Line Items]
Lease payments of initial term		$ 12,665
Non-cancellable purchase obligation		12,000
Non-cancellable purchase obligation, fulfilled within a year		9,900
Project
Lessee, Lease, Description [Line Items]
Lease payments of initial term	$ 495,700
Commencement date, rent abatement period	120 days
Commencement delivered period	12 months
Number of option to extend \| lease	2
Term of option to extend	10 years
Base rent percentage (as a percent)	1.85%
Office Space
Lessee, Lease, Description [Line Items]
Lease payments of initial term		$ 17,000
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term (in years)		4 years

Employee Benefit Plans - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan, Plan Assets, Category [Line Items]
Matching contributions	$ 4.6	$ 3.8	$ 2.2
Net actuarial loss (gain)	Other income (expense), net	Other income (expense), net
Non-U.S. \| Pension Plan
Defined Benefit Plan, Plan Assets, Category [Line Items]
Expected contributions	$ 0.3

Employee Benefit Plans - Schedule of Projected Benefit Obligation and Plan Assets Changes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Change in benefit obligation:
Actuarial (gain) loss on benefit obligation	$ (418)	$ (237)	$ 15
Impact of foreign currency translation	12	(1)	0
Pension Plan
Change in plan assets:
Fair value of plan assets at beginning of year	3,000
Fair value of plan assets at end of year	3,200	3,000
Non-U.S. \| Pension Plan
Change in benefit obligation:
Benefit obligation at beginning of year	3,874	4,064
Service cost	268	396	75
Interest cost	35	21	3
Actuarial (gain) loss on benefit obligation	(418)	(237)
Taxes, insurance premiums and administrative expenses	(50)	(55)
Impact of foreign currency translation	(207)	(315)
Benefit obligation at end of year	3,502	3,874	4,064
Change in plan assets:
Fair value of plan assets at beginning of year	2,958	2,882
Return on plan assets	26	14
Actuarial gain	72	6
Employer contribution	332	335
Taxes, insurance premiums and administrative expenses	50	55
Impact of foreign currency translation	(157)	(224)
Fair value of plan assets at end of year	3,181	2,958	$ 2,882
Funded status, net liability	321	916
Non-U.S. \| Pension Plan \| Other Liabilities
Change in plan assets:
Other liabilities	$ 321	$ 916

Employee Benefit Plans - Summary of Defined Benefit Plan With Accumulated Benefit Obligation in Excess of Plan Assets (Details) - Non-U.S. - Pension Plan - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan, Plan Assets, Category [Line Items]
Projected benefit obligation	$ 3,502	$ 3,874
Accumulated benefit obligation	3,265	3,282
Fair value of plan assets	$ 3,181	$ 2,958

Employee Benefit Plans - Summary of Accumulated Benefit Obligation in Excess of Plan Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax [Abstract]
Unrecognized net actuarial (gain) loss beginning of year	$ (227)	$ 17	$ 0
Actuarial (gain) loss on benefit obligation	(418)	(237)	15
Actuarial (gain) loss on fair value of plan assets	(72)	(6)	2
Impact of foreign currency translation	12	(1)	0
Non-U.S. \| Pension Plan
Defined Benefit Plan, Plan Assets, Category [Line Items]
Service cost	268	396	75
Interest cost	35	21	3
Return on plan assets	(26)	(14)	(8)
Net periodic pension cost	277	403	70
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax [Abstract]
Actuarial (gain) loss on benefit obligation	(418)	(237)
Impact of foreign currency translation	(207)	(315)
Total included in other comprehensive loss (before tax effect)	(705)	(227)	17
Total recognized in net periodic benefit cost and included in other comprehensive loss	$ (428)	$ 176	$ 87

Employee Benefit Plans - Significant Pension Benefit Costs Assumptions (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined benefit obligations:
Discount rate	3.80%	0.90%	0.50%
Rate of salary increase	4.67%	4.27%	4.07%
Inflation	2.30%	1.80%	1.60%
Defined benefit cost:
Discount rate	3.80%	0.90%	1.50%
Rate of salary increase	4.67%	4.27%	4.37%
Inflation	2.30%	1.80%	1.90%
Non-U.S. \| Pension Plan
Defined benefit cost:
Rate of return on plan assets	1.20%	0.90%	0.50%

Employee Benefit Plans - Schedule of Major Categories of Plan Assets (Details) - Pension Plan - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan, Plan Assets, Category [Line Items]
Fair value of plan assets	$ 3,200	$ 3,000
Non-U.S.
Defined Benefit Plan, Plan Assets, Category [Line Items]
Fair value of plan assets	3,181	2,958	$ 2,882
Non-U.S. \| Insurance Companies
Defined Benefit Plan, Plan Assets, Category [Line Items]
Fair value of plan assets	$ 3,181	$ 2,958

- Definition

Amount of asset segregated and restricted to provide benefit under defined benefit plan. Asset includes, but is not limited to, stock, bond, other investment, earning from investment, and contribution by employer and employee.

+ References + Details

Income Taxes - Schedule of Domestic and Foreign Components of Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
United States	$ 30,594	$ (27,547)	$ (25,745)
International	(13,288)	(3,648)	(3,227)
Income (loss) before income taxes	$ 17,306	$ (31,195)	$ (28,972)

Income Taxes - Components of (Provision) Benefit for Income Taxes from Continuing Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current:
Federal	$ (2,717)	$ (2,713)	$ 431
State	(803)	(145)	(87)
Foreign	(815)	(1,627)	(1,083)
Total	(4,335)	(4,485)	(739)
Deferred:
Federal	1,004	(364)	(9,847)
State	(1)	0	(5,176)
Foreign	5,596	8,682	757
Total	6,599	8,318	(14,266)
Income tax benefit	$ 2,264	$ 3,833	$ (15,005)

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Federal Tax Rate	21.00%	21.00%	21.00%
State Tax Rate - statutory blended rate	4.30%	4.20%	4.10%
Other effective state tax adjustments	3.60%	(1.40%)	(2.10%)
Non-deductible expenses	4.00%	(6.10%)	(9.20%)
Research tax benefits	(31.60%)	7.90%	10.50%
Stock-based compensation	6.30%	13.90%	46.80%
Change in valuation allowance	(16.10%)	16.30%	(123.40%)
Deferred tax rate change	0.50%	(0.20%)	0.20%
Voxbone US 338(g) gain	0.00%	(8.90%)	0.00%
Intangibles and deferred adjustments	(4.70%)	(40.20%)	0.00%
Foreign rate differential	1.60%	1.30%	0.00%
Other	(2.00%)	4.50%	0.30%
Total	(13.10%)	12.30%	(51.80%)

Income Taxes - Significant Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets:
Allowance for doubtful accounts	$ 173	$ 262
Accrued liabilities	4,370	3,412
Operating lease liabilities	3,456	3,456
Deferred revenue	1,949	1,880
Stock-based compensation - deferred tax asset	3,216	2,278
OID	0	8,848
Section 174	20,997	0
Accrued lease incentive	2,645	0
Tax credits	10,948	9,214
Net operating losses	25,691	50,285
Other deferred tax assets	4,592	4,166
Gross deferred tax assets	78,037	83,801
Less: valuation allowance	(65,678)	(32,224)
Total deferred tax assets	12,359	51,577
Deferred tax liabilities:
Property, plant and equipment	4,890	7,813
Goodwill	1,272	1,130
Intangibles	41,591	49,470
Operating lease assets	3,072	2,860
Debt	0	38,411
Other liability	0	289
Total deferred tax liabilities	50,825	99,973
Net deferred tax liability	$ (38,466)	$ (48,396)

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jan. 01, 2022
Operating Loss Carryforwards [Line Items]
Less: valuation allowance	$ 65,678	$ 32,224
Federal tax credits	10,900
Unrecognized tax benefits	4,800	3,062	$ 2,414
Income tax penalties and interest expense	300	0
Income tax benefit	2,264	3,833	(15,005)
Income (loss) before income taxes	$ 17,306	$ (31,195)	$ (28,972)
Total	(13.10%)	12.30%	(51.80%)
Debt	$ 0	$ (38,411)
Additional paid-in capital	364,913	502,477
Accumulated deficit	48,547	76,867
Deferred tax liability	(38,466)	$ (48,396)
Cumulative effect of adoption, adjusted balance \| Accounting Standards Update 2020-06
Operating Loss Carryforwards [Line Items]
Debt	37,200
Deferred tax liability related to valuation allowance	36,200
Additional paid-in capital	30,000			$ (156,200)
Accumulated deficit	29,000			8,800
Deferred tax liability	1,000			$ 1,000
Federal Ministry of Finance, Germany
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	100,100
Tax and Customs Administration, Netherlands
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	3,800
State
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 59,600

Income Taxes - Summary of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits, beginning balance	$ 3,062	$ 2,414
Gross increases—tax positions in prior period	613	0
Gross increases—tax positions in current period	1,125	648
Unrecognized tax benefits, ending balance	$ 4,800	$ 3,062

Related Parties (Details) - Relay - Master Services Agreement - Affiliated Entity - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Revenue from related parties	$ 1.1	$ 1.8	$ 2.2
Receivable (less than)	$ 0.1	$ 0.1

- Definition

Amount of revenue, fees and commissions earned from transactions between (a) a parent company and its subsidiaries; (b) subsidiaries of a common parent; (c) an entity and trusts for the benefit of employees, for example, but not limited to, pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; (d) an entity and its principal, owners, management, or members of their immediate families; and (e) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07.1(c))
-URI https://asc.fasb.org/extlink&oid=120401555&loc=SL114874292-224272

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(B))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(C))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.1(e))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

+ Details

Basic and Diluted Income (Loss) per Common Share - Components of Basic and Diluted Earnings per Share (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Earnings Per Share [Abstract]
Net income (loss) attributable to common stockholders	$ 19,570,000	$ (27,362,000)	$ (43,977,000)
Net income (loss) per share:
Net loss per share, basic (in usd per share)	$ 0.77	$ (1.09)	$ (1.83)
Net loss per share, diluted (in usd per share)	$ (0.48)	$ (1.09)	$ (1.83)
Numerator used to compute net income (loss) per share:
Net gain on extinguishment of debt	$ (39,614,000)	$ 0	$ 0
Interest expense on convertible notes, net of taxes	5,147,000	0	0
Net Income (Loss) Available to Common Stockholders, Diluted	$ (14,897,000)	$ (27,362,000)	$ (43,977,000)
Weighted average number of common shares outstanding:
Weighted average number of common shares outstanding, basic (in shares)	25,282,796	25,090,916	24,092,574
Convertible debt conversion	5,625,073	0	0
Weighted average number of common shares outstanding, diluted (in shares)	30,907,869	25,090,916	24,092,574

Basic and Diluted Income (Loss) per Common Share - Schedule of Antidilutive Common Share Equivalents Excluded from Earnings Per Share (Details)			12 Months Ended
	Mar. 16, 2021 $ / shares	Feb. 28, 2020 $ / shares	Dec. 31, 2022 shares	Dec. 31, 2021 $ / shares shares	Dec. 31, 2020 shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)			8,391,920	1,511,844	1,728,555
Convertible notes \| 2026 Convertible Notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Conversion price (in usd per share) \| $ / shares		$ 91.03		$ 91.03
Convertible notes \| 2026 Convertible Notes \| Class A voting common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Conversion ratio		0.0109857	0.0109857	0.0109857
Convertible notes \| 2028 Convertible Notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Conversion price (in usd per share) \| $ / shares	$ 179.27			$ 179.27
Convertible notes \| 2028 Convertible Notes \| Class A voting common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Conversion ratio	0.0055781		0.0055781	0.0055781
Stock options issued and outstanding
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)			159,741	180,209	255,000
Restricted stock units issued and outstanding
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)			2,607,106	344,486	450,614
Convertible senior notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)			5,625,073	987,149	1,022,941