0001286139-21-000013 | 10-Q | XBRL Viewer

Summary of Significant Accounting Policies - Additional Information (Detail) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021 USD ($)	Sep. 30, 2020 USD ($)	Sep. 30, 2021 USD ($) segment	Sep. 30, 2020 USD ($)	Dec. 31, 2020 USD ($)
Accounting Policies [Line Items]
Number of operating segments \| segment			1
Foreign currency transaction gains (losses)	$ (1,400)	$ 1,400	$ (1,002)	$ (1,039)
Other Noncurrent Assets
Accounting Policies [Line Items]
Deferred offering costs non current	$ 5,600		$ 5,600		$ 0
Customer One \| Accounts Receivable \| Customer Concentration Risk
Accounting Policies [Line Items]
Concentration risk percentage					20.00%
Outside United States \| Revenue Benchmark \| Geographic Concentration Risk
Accounting Policies [Line Items]
Concentration risk percentage	0.80%	0.90%	0.90%	1.60%
Outside United States \| Property, Plant and Equipment \| Geographic Concentration Risk
Accounting Policies [Line Items]
Property plant and equipment percent	1.00%		1.00%		1.00%

Description of Business (Details) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended	3 Months Ended	9 Months Ended
	Jul. 02, 2021	Jul. 31, 2021	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Subsidiary, Sale of Stock [Line Items]
Common stock par value (in dollars per share)	$ 0.001		$ 0.001	$ 0.001		$ 0.001
Net proceeds	$ 666,900
Payment of stock issuance costs	$ 5,600			$ 5,634	$ 0
Repayment of term loan				$ 524,300	$ 4,012
Conversion of redeemable convertible preferred stock to common stock in connection with initial public offering			$ 70,905
Common stock shares authorized (in shares)	1,000,000,000		1,000,000,000	1,000,000,000		264,720,000
Preferred stock shares authorized (in shares)	100,000,000		100,000	100,000
Preferred stock par value (in dollars per share)	$ 0.001		$ 0.001	$ 0.001
2018 Term Loan
Subsidiary, Sale of Stock [Line Items]
Repayment of term loan	$ 521,600	$ 521,600
Series A Redeemable Convertible Preferred Stock
Subsidiary, Sale of Stock [Line Items]
Conversion of redeemable convertible preferred stock to common stock in connection with initial public offering (in shares)	23,081,080		(23,081,000)
Conversion of redeemable convertible preferred stock to common stock in connection with initial public offering	$ 70,900		$ (70,906)
Common Stock
Subsidiary, Sale of Stock [Line Items]
Conversion of redeemable convertible preferred stock to common stock in connection with initial public offering (in shares)	46,162,160		46,162,000
Conversion of redeemable convertible preferred stock to common stock in connection with initial public offering			$ 46
IPO
Subsidiary, Sale of Stock [Line Items]
Shares issued (in shares)	19,121,000
Common stock par value (in dollars per share)	$ 0.001
Price per share (in dollars per share)	$ 28.00
Net proceeds	$ 505,900
Underwriters Option
Subsidiary, Sale of Stock [Line Items]
Shares issued (in shares)	2,868,150
Net proceeds	$ 75,900
Private Placement
Subsidiary, Sale of Stock [Line Items]
Shares issued (in shares)	3,214,285
Net proceeds	$ 85,000

Derivatives - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended		9 Months Ended
	Jul. 31, 2021	Jun. 30, 2021	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Derivative [Line Items]
Extinguishment of interest rate swaps and hybrid debt	$ 13,600
Interest expense on derivatives			$ 9,240	$ 0	$ 9,240	$ 0
Interest rate swaps \| Designated as Hedging Instrument
Derivative [Line Items]
Derivative liabilities notional amount		$ 394,200
Financial guarantee
Derivative [Line Items]
Reclassification from restricted cash and cash equivalents to cash and cash equivalents		25,000
Financial guarantee \| Other Nonoperating Income (Expense)
Derivative [Line Items]
Gain loss from the cancellation of derivatives		$ 100

Commitments and Contingencies (Tables)

9 Months Ended

Sep. 30, 2021

Commitments and Contingencies Disclosure [Abstract]

Future Minimum Payments for Operating Leases

Future minimum payments under operating leases at September 30, 2021 are as follows (in thousands):


	Operating Leases
2021 (remaining three months)	$	869
2022	2,313
2023	$	377
Total minimum lease payments	$	3,559

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 310,704	$ 114,470
Accounts receivable, net	11,595	8,555
Prepaid expenses and other current assets	16,338	10,536
Total current assets	338,637	133,561
Property and equipment, net	47,112	51,374
Goodwill	11,392	11,404
Intangible assets, net	438	815
Deferred income taxes	26,362	22,807
Restricted cash equivalent	0	25,000
Available-for-sale debt securities	1,123	1,050
Other assets	9,408	6,053
Total assets	434,472	252,064
Current liabilities:
Accounts payable	43,196	28,734
Accrued expenses and other current liabilities	42,958	41,028
Deferred revenue	152,314	127,142
Current portion of long-term debt	0	3,029
Total current liabilities	238,468	199,933
Long-term debt, net of current portion	0	512,362
Deferred revenue	1,697	2,937
Other liabilities	3,263	16,558
Total liabilities	243,428	731,790
Commitments and contingencies (Note 8)
Series A redeemable convertible preferred stock, $0.001 par value; 30,512 shares authorized at December 31, 2020; 23,081 shares issued and outstanding at December 31, 2020		70,906
Stockholders’ equity (deficit):
Preferred stock, $0.001 par value; 100,000 shares authorized at September 30, 2021, none issued or outstanding at September 30, 2021	0
Common stock, $0.001 par value; 1,000,000 and 264,720 shares authorized; 197,048 and 125,037 shares issued and outstanding at September 30, 2021 and December 31, 2020, respectively	197	126
Additional paid-in capital	919,712	102,417
Accumulated deficit	(727,241)	(639,348)
Accumulated other comprehensive loss	(1,624)	(13,827)
Total stockholders’ equity (deficit)	191,044	(550,632)
Total liabilities, redeemable convertible preferred stock and stockholders’ equity (deficit)	$ 434,472	$ 252,064

Commitments and Contingencies

9 Months Ended

Sep. 30, 2021

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Operating Leases

We conduct operations from certain leased facilities in various locations. At September 30, 2021, we had various non-cancelable operating leases for office space and equipment, which expire between December 2021 and December 2023. Future minimum payments under operating leases at September 30, 2021 are as follows (in thousands):


	Operating Leases
2021 (remaining three months)	$	869
2022	2,313
2023	$	377
Total minimum lease payments	$	3,559

Advertising, Media and Other Commitments

We use a variety of media to advertise our services, including search engine marketing, television and radio. At September 30, 2021, we had non-cancelable minimum advertising and media commitments for future advertising spots of $30.3 million, substantially all of which will be paid over a three-year period. We also have non-cancelable agreements with various vendors, which require us to pay $30.2 million over a five-year period, of which $25.9 million remains to be paid as of September 30, 2021.

Legal Proceedings

We received a demand letter dated April 20, 2020 from service partner Dun & Bradstreet alleging that Dun & Bradstreet had overpaid us for services. The letter alleges these overpayments occurred between 2015 and 2019, amounted to $5.6 million, and were caused by overreporting by us. The parties have continued to negotiate, and no claim has been filed. We deny and will continue to deny all of the allegations and claims asserted by Dun & Bradstreet, including, but not limited to, any allegation that Dun & Bradstreet has suffered any harm or damages. We believe we have meritorious defenses to the claims and will vigorously defend any action. We are unable to predict the ultimate outcome of this matter. We have not recorded any loss or accrual in the accompanying unaudited condensed consolidated financial statements at September 30, 2021 for this matter as a loss is not probable and reasonably estimable. There is at least a reasonable possibility that a loss may have been incurred for this contingency, however, we cannot make an estimate of the possible loss or range of loss.

We initiated arbitration on October 28, 2020 against one of our vendors. The demand for arbitration alleges breach of contract and breach of covenant of good faith and fair dealing, and seeks declaratory relief and at least $5.6 million in damages. On December 7, 2020, the vendor filed a counterdemand alleging breach of contract and breach of the covenant of good faith and fair dealing, seeking declaratory relief and at least $6.1 million in damages. We replied to the counterdemand on January 19, 2021. The parties reached the terms of a global settlement on August 21, 2021. This settlement was not material to our business, results of operations, cash flows and financial condition.

We were served on February 9, 2021 with a class action complaint, filed in Los Angeles Superior Court and removed to federal court on March 11, 2021, from a Florida resident who claims to have visited the www.legalzoom.com website. The plaintiff alleges that the website’s use of session replay software was an unlawful interception of electronic communications under the Florida Security Communications Act. The plaintiff sought damages on behalf of the purported class as well as injunctive and declaratory relief. On May 7, 2021, the plaintiff filed a notice of dismissal without prejudice. We are unable to predict the ultimate outcome of this matter. We have not recorded any loss or accrual in the accompanying unaudited condensed consolidated financial statements at September 30, 2021 for this matter as a loss is not probable and reasonably estimable. There is at least a reasonable possibility that a loss may have been incurred for this contingency, however, we cannot make an estimate of the possible loss or range of loss.

In July 2021, LegalInc Corporate Services Inc., or LegalInc, LegalZoom’s wholly owned subsidiary, received a citation from a Secretary of State regarding LegalInc’s registered agent services in the State. LegalInc has requested a hearing to review the matter. We are unable to predict the ultimate outcome of this matter. We have not recorded any loss or accrual in the accompanying unaudited condensed consolidated financial statements at September 30, 2021 for this matter as a loss is not probable and reasonably estimable. There is at least a reasonable possibility that a loss may be incurred for this contingency, however, we cannot make an estimate of the possible loss or range of loss. If this matter is not resolved in our favor, the losses arising from the result of a final ruling, hearing or settlements may have a material adverse effect on our business, results of operations, cash flows and financial condition.

We are involved in inactive state administrative inquiries relating to the unauthorized practice of law or insurance. Because these are inquiries and no claims have been alleged or asserted against us, we cannot predict the outcome of these inquiries or whether these matters will result in litigation or any outcome of potential litigation.

From time to time, we may become subject to legal proceedings, claims and litigation arising in the ordinary course of business. Other than described above, we are not currently a party to any material legal proceedings, nor are we aware of any pending or threatened litigation that could have a material adverse effect on our results of operations, cash flows, and financial condition, should such litigation be resolved unfavorably.

Indemnifications

Indemnification provisions in our third-party service provider agreements provide that we will indemnify, hold harmless, and reimburse the indemnified parties on a case-by-case basis for losses suffered or incurred by the indemnified parties in connection with any claim by any third-party as a result of our website, advertising, marketing, payment processing, collection or customer service activities. The maximum potential amount of future payments we could be required to make under these indemnification provisions is indeterminable.

Other Financial Statement Information - Summary of Changes in the Allowance (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 5,114	$ 2,447	$ 5,256	$ 2,461
Add: amounts recognized as a reduction of revenue	1,884	1,487	4,911	4,300
Add: bad debt expense recognized in general and administrative expense	146	348	177	1,028
Less: write-offs, net of recoveries	(2,415)	(720)	(5,615)	(4,227)
Ending balance	$ 4,729	$ 3,562	$ 4,729	$ 3,562

Derivatives - Summary of Foreign Exchange Contracts, Statement of Financial Position (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Settlement of interest rate swaps	$ 0	$ 256	$ 1,052	$ 698
Amortization of prior hedge effectiveness	19	1,230	3,095	2,226
Fair value adjustment of interest rate swap	364	0	364	0
Amortization of interest rate cap premium	0	44	28	159
Interest expense on hybrid debt	0	208	368	430
Discontinuance of interest rate swaps and prior hedge effectiveness	9,240	0	9,240	0
Total recorded in interest expense, net	$ 9,623	$ 1,738	$ 14,147	$ 3,513

Stock-based Compensation - Summary of Restricted Stock Unit Activity (Detail) - Restricted stock units	9 Months Ended
	Sep. 30, 2021 $ / shares shares
Number of Shares
Unvested at beginning of period (in shares) \| shares	2,499,000
Granted (in shares) \| shares	1,978,000
Cancelled/forfeited (in shares) \| shares	(201,000)
Vested (in shares) \| shares	(662,000)
Unvested at ending of period (in shares) \| shares	3,614,000
Weighted- Average Grant- Date Fair Value
Unvested at beginning of period (in dollars per share) \| $ / shares	$ 9.53
Granted (in dollars per share) \| $ / shares	18.87
Cancelled/forfeited (in dollars per share) \| $ / shares	11.29
Vested (in dollars per share) \| $ / shares	19.34
Unvested at ending of period (in dollars per share) \| $ / shares	$ 20.60

Stock-based Compensation - Schedule of Stock Options Activity (Detail) $ / shares in Units, shares in Thousands, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021 USD ($) $ / shares shares	Dec. 31, 2020 USD ($) $ / shares shares
Number of Options
Beginning Balance (in shares) \| shares	15,235
Granted (in shares) \| shares	971
Exercised (in shares) \| shares	(539)
Cancelled/forfeited (in shares) \| shares	(95)
Ending Balance (in shares) \| shares	15,572	15,235
Vested and expected to vest at end of period (in shares) \| shares	15,544
Exercisable at end of period (in shares) \| shares	6,501
Weighted-Average Exercise Price
Beginning Balance (in dollars per share) \| $ / shares	$ 8.78
Granted (in dollars per share) \| $ / shares	28.00
Exercised (in dollars per share) \| $ / shares	0.71
Cancelled/forfeited (in dollars per share) \| $ / shares	4.40
Ending Balance (in dollars per share) \| $ / shares	10.28	$ 8.78
Vested and expected to vest at end of period (in dollars per share) \| $ / shares	10.29
Exercisable at end of period (in dollars per share) \| $ / shares	$ 8.31
Weighted Average Remaining Contractual Life (in Years)	8 years 2 months 12 days	8 years 8 months 12 days
Vested and expected to vest at end of period, term	8 years 2 months 12 days
Exercisable at end of period, term	7 years 7 months 6 days
Aggregate Intrinsic Value \| $	$ 252,542	$ 15,873
Vested and expected to vest at September 30, 2021 \| $	251,962
Exercisable at September 30, 2021 \| $	$ 117,605

Description of Business	9 Months Ended
Description of Business	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of Business LegalZoom.com, Inc., was initially formed as a California corporation in 1999 and reincorporated as a Delaware corporation in 2007. LegalZoom.com, Inc., and its wholly owned subsidiaries, referred to herein as “we,” “us,” or “our” has its executive headquarters in Glendale, California, its operational headquarters in Austin, Texas and additional locations in Frisco, Texas and London in the United Kingdom, or U.K. We are a provider of services that meet the legal needs of small businesses and consumers. We offer a broad portfolio of legal services through our online legal platform that customers can tailor to their specific needs. In the United States, or U.S., we also offer several subscription services, including legal plans through which businesses and consumers can be connected to an experienced attorney licensed in their jurisdiction, registered agent services, tax and compliance services and unlimited access to our forms library. Initial Public Offering The registration statement related to our initial public offering, or IPO, was declared effective on June 29, 2021, and our common stock began trading on the Nasdaq Global Select Market on June 30, 2021. On July 2, 2021, we completed our IPO for the sale of 19,121,000 shares of our common stock, $0.001 par value per share at an offering price of $28.00 per share, for proceeds of $505.9 million, net of underwriting discounts and commissions. In addition, we sold 2,868,150 shares of our common stock for net proceeds of $75.9 million pursuant to the full exercise of the underwriter’s option to purchase additional shares in connection with the IPO. In addition, on July 2, 2021, we sold 3,214,285 shares of our common stock in a private placement with an existing related party stockholder for proceeds of $85.0 million, net of underwriting discounts and commissions. We raised aggregate proceeds of $666.9 million from our IPO and private placement after deducting underwriting discounts and commissions. We incurred stock issuance costs of $5.6 million. Proceeds raised from our IPO were used to repay the full outstanding balance of $521.6 million on our 2018 Term Loan. Upon the completion of our IPO, 23,081,080 outstanding shares of redeemable convertible preferred stock with a carrying value of $70.9 million converted into an aggregate of 46,162,160 shares of common stock. Following the completion of the IPO, we have one class of authorized and outstanding common stock. Immediately upon the completion of our IPO, we filed an Amended and Restated Certificate of Incorporation, which authorized a total of 1,000,000,000 shares of common stock, $0.001 par value per share and 100,000,000 shares of preferred stock, par value $0.001 per share.

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (39,675)	$ 9,412	$ (87,893)	$ 475
Other comprehensive (loss) income, net of tax:
Change in foreign currency translation adjustments:	1,452	(1,060)	1,101	1,514
Change in available-for-sale debt securities:
Unrealized gain from available-for-sale debt securities	72	0	44	0
Loss from impairment	0	0	0	(94)
Total net changes in available-for-sale debt securities	72	0	44	(94)
Change in unrealized gain (loss) on cash flow hedges:
Unrealized (loss) gain on interest rate cap and swaps	(903)	(432)	1,448	(9,738)
Reclassification of prior hedge effectiveness and losses from interest rate cap and swaps to net (loss) income	0	882	2,315	1,791
Reclassification to net (loss) income upon discontinuance of interest rate swaps and prior hedge effectiveness	7,295	0	7,295	0
Total net changes in cash flow hedges	6,392	450	11,058	(7,947)
Total other comprehensive income (loss)	7,916	(610)	12,203	(6,527)
Total comprehensive (loss) income	$ (31,759)	$ 8,802	$ (75,690)	$ (6,052)

Stock-based Compensation (Tables)

9 Months Ended

Sep. 30, 2021

Share-based Payment Arrangement [Abstract]

Schedule of Stock Based Compensation Cost

We recorded stock-based compensation cost in the following categories in the accompanying condensed consolidated statements of operations and balance sheets (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Cost of revenue	$	764	$	48	$	1,585	$	131
Sales and marketing	6,356		163		11,706		950
Technology and development	14,446		600		32,591		2,153
General and administrative	16,499		2,118		41,079		7,383
Total stock-based compensation expense	38,065		2,929		86,961		10,617
Amount capitalized to internal-use software	9		12		35		35
Total stock-based compensation	$	38,074	$	2,941	$	86,996	$	10,652

Schedule of Stock Options Activity

Stock option activity for the nine months ended September 30, 2021 is as follows (in thousands, except weighted-average exercise price and remaining contractual life):


	Number of Options	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life (in Years)	Aggregate Intrinsic Value
Outstanding at December 31, 2020	15,235	$	8.78	8.7	15,873
Granted	971	28.00
Exercised	(539)	0.71
Cancelled/forfeited	(95)	4.40
Outstanding at September 30, 2021	15,572	$	10.28	8.2	$	252,542
Vested and expected to vest at September 30, 2021	15,544	$	10.29	8.2	$	251,962
Exercisable at September 30, 2021	6,501	$	8.31	7.6	$	117,605

Schedule of Fair Value Assumptions and Techniques for Stock Options

The weighted-average assumptions used to calculate the grant-date fair value of our stock option grants using the Black-Scholes Option Pricing Model were as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Expected life (years)	—		5.3		5.4		5.2
Risk-free interest rate	—	%	0.3	%	1.0	%	1.3	%
Expected volatility	—	%	47	%	46	%	44	%
Expected dividend yield	—	%	—	%	—	%	—	%

Summary of Restricted Stock Unit Activity

Restricted stock unit, or RSU, activity for the nine months ended September 30, 2021 is as follows (in thousands, except weighted-average grant-date fair value):


	Number of Shares	Weighted- Average Grant- Date Fair Value
Unvested at December 31, 2020	2,499	$	9.53
Granted	1,978	18.87
Cancelled/forfeited	(201)	11.29
Vested	(662)	19.34
Unvested at September 30, 2021	3,614	$	20.60

Stock-based Compensation - Schedule of Stock Based Compensation Cost (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Schedule Of Share Based Compensation Employee Stock Purchase Plan Activity [Line Items]
Total stock-based compensation	$ 38,074	$ 2,941	$ 86,996	$ 10,652
Cost of revenue
Schedule Of Share Based Compensation Employee Stock Purchase Plan Activity [Line Items]
Total stock-based compensation	764	48	1,585	131
Sales and marketing
Schedule Of Share Based Compensation Employee Stock Purchase Plan Activity [Line Items]
Total stock-based compensation	6,356	163	11,706	950
Technology and development
Schedule Of Share Based Compensation Employee Stock Purchase Plan Activity [Line Items]
Total stock-based compensation	14,446	600	32,591	2,153
General and administrative
Schedule Of Share Based Compensation Employee Stock Purchase Plan Activity [Line Items]
Total stock-based compensation	16,499	2,118	41,079	7,383
Total stock-based compensation expense
Schedule Of Share Based Compensation Employee Stock Purchase Plan Activity [Line Items]
Total stock-based compensation	38,065	2,929	86,961	10,617
Amount capitalized to internal-use software
Schedule Of Share Based Compensation Employee Stock Purchase Plan Activity [Line Items]
Total stock-based compensation	$ 9	$ 12	$ 35	$ 35

Other Financial Statement Information - Summary of Prepaid Expenses and Other Current Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Other Financial Information [Abstract]
Prepaid expenses	$ 11,221	$ 7,177
Deferred cost of revenue	2,369	1,967
Other current assets	2,748	1,392
Total prepaid expenses and other current assets	$ 16,338	$ 10,536

Income Taxes (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Income Taxes (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Income Tax Disclosure [Abstract]
(Benefit from) provision for from income taxes	$ (5,908)	$ 3,126	$ (6,849)	$ 1,634
Effective tax rate	13.00%	24.90%	7.20%	77.50%
Gross unrecognized tax benefits	$ 7,800		$ 7,800		$ 7,200
Unrecognized tax benefits that would impact effective tax rate	$ 7,800		$ 7,800

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2021

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the U.S., or GAAP, for interim financial information. Certain information and disclosures normally included in consolidated financial statements prepared in accordance with GAAP have been condensed or omitted. Accordingly, these unaudited condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements for the year ended December 31, 2020 and the related notes thereto, which are included in our Prospectus. The December 31, 2020 condensed consolidated balance sheet was derived from our audited consolidated financial statements as of that date. Our unaudited condensed consolidated financial statements include, in the opinion of management, all adjustments, consisting of normal and recurring items, necessary for the fair statement of the unaudited condensed consolidated financial statements. All intercompany balances and transactions have been eliminated in consolidation. There have been no significant changes in accounting policies during the three and nine months ended September 30, 2021 from those disclosed in the annual consolidated financial statements for the year ended December 31, 2020 and the related notes.

The operating results for the three and nine months ended September 30, 2021 are not necessarily indicative of the results expected for the full year ending December 31, 2021.

Segment Reporting and Geographic Information

Our Chief Executive Officer, as the chief operating decision maker, organizes our company, manages resource allocations, and measures performance on the basis of one operating segment.

Revenue outside of the U.S., based on the location of the customer, represented 0.8% and 0.9% of our consolidated revenue for the three months ended September 30, 2021 and 2020, respectively, and 0.9% and 1.6% of our consolidated revenue for the nine months ended September 30, 2021 and 2020, respectively. Our property and

equipment located outside of the U.S. was approximately 1% of our total property and equipment as of September 30, 2021 and December 31, 2020.

Use of Estimates

The preparation of financial statements in conformity with GAAP requires estimates and assumptions that affect the reported amounts of assets and liabilities, revenue and expenses, and related disclosures of contingent liabilities in the unaudited condensed consolidated financial statements and accompanying notes. Estimates are used for, however not limited to, revenue recognition, sales allowances and credit reserves, available-for-sale debt securities, valuation of long-lived assets and goodwill, income taxes, commitments and contingencies, valuation of assets and liabilities acquired in business combinations, fair value of derivative instruments and stock-based compensation. Actual results could differ materially from those estimates.

The extent to which COVID-19 impacts our business and financial results will depend on numerous continuously evolving factors including, but not limited to, the magnitude and duration of COVID-19, including: resurgences; the impact on our employees; the extent to which it will impact worldwide macroeconomic conditions, including interest rates, employment rates, and health insurance coverage; the speed and degree of the anticipated recovery, as well as variability in such recovery across different geographies, industries, and markets; and governmental and business reactions to the pandemic. We assessed certain accounting matters that generally require consideration of forecasted financial information in context with the information reasonably available to us and the unknown future impacts of COVID-19 as of September 30, 2021 and through the date of issuance of these unaudited condensed consolidated financial statements. The accounting matters assessed included, but were not limited to, our allowance for doubtful accounts, sales allowances, and the carrying value of goodwill and other long-lived assets. While there was not a material impact on our unaudited condensed consolidated financial statements at and for the three and nine months ended September 30, 2021, our future assessment of the magnitude and duration of COVID-19, as well as other factors, could result in material impacts to our unaudited condensed consolidated financial statements in future reporting periods.

Certain Risks and Concentrations

We maintain accounts in U.S. and U.K. banks with funds insured by the Federal Deposit Insurance Corporation, or FDIC, and the Financial Services Compensation Scheme, or FSCS, respectively. Our bank accounts may, at times, exceed the FDIC and FSCS insured limits. Financial instruments that potentially subject us to credit risk consist principally of cash and cash equivalents. Management believes that we are not exposed to any significant credit risk related to our cash or cash equivalents and have not experienced any losses in such accounts.

No single customer comprised 10% or more of our total revenue for the three and nine months ended September 30, 2021 and 2020. No single customer had an account receivable balance of 10% or greater of the total accounts receivable balance as of September 30, 2021. At December 31, 2020 there was one customer who accounted for 20% of our accounts receivable balance.

Foreign Currency

British Pound Sterling, or GBP, is the functional currency for our foreign subsidiaries. The financial statements of these foreign subsidiaries are translated to U.S. Dollars using period-end rates of exchange for assets and liabilities, historical rates of exchange for equity, and average rates of exchange for the period for revenue and expenses. Translation gains and losses are recorded in the accumulated other comprehensive loss as a component of our unaudited condensed consolidated statements of redeemable convertible preferred stock and stockholders’ equity (deficit). We recognized foreign currency transaction losses of $1.4 million and gains of $1.4 million during the three months ended September 30, 2021 and 2020, respectively, and losses of $1.0 million and $1.0 million during the nine months ended September 30, 2021 and 2020, respectively.

Revenue Recognition

For the three and nine months ended September 30, 2021 and 2020, revenue was comprised of the following (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Transaction	$	66,873	$	63,850	$	201,621	$	159,865
Subscription	73,317		59,348		208,194		167,415
Partner	7,689		8,397		23,128		21,117
Total revenue	$	147,879	$	131,595	$	432,943	$	348,397

Deferred Offering Costs

Deferred offering costs of $5.6 million have been recorded in additional paid-in capital against the proceeds received from our IPO during the three months ended September 30, 2021 and consist of costs incurred in connection with the sale of our common stock in our IPO and private placement, including certain legal, accounting, printing and other IPO related costs. There were no deferred offering costs as of December 31, 2020.

Recent Accounting Pronouncements

Recently Adopted Accounting Pronouncements

In December 2019, the Financial Accounting Standards Board, or FASB, issued Accounting Standard Update, or ASU, No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, or ASU 2019-12. This Update removes certain exceptions for performing intra-period tax allocations, recognizing deferred taxes for investments, and calculating income taxes in interim periods. The guidance also simplifies the accounting for franchise taxes, transactions that result in a step-up in the tax basis of goodwill, and the effect of enacted changes in tax laws or rates in interim periods. We early adopted ASU 2019-12 in the first quarter of 2021 and the adoption did not have a material impact to our unaudited condensed consolidated financial statements.

Accounting Pronouncements Not Yet Adopted

In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), the first accounting standard update in connection with Topic 842, Leases, or Topic 842. The guidance requires lessees to recognize most leases as right of use assets and lease liabilities on the balance sheet and also requires additional qualitative and quantitative disclosures to enable users to understand the amount, timing and uncertainty of cash flows arising from leases. The original guidance required application on a modified retrospective basis to the earliest period presented. In August 2018, the FASB issued ASU 2018-11, Leases (Topic 842): Targeted Improvements, which includes an option to not restate comparative periods in transition, however, to elect to use the effective date of ASU 2016-02, as the date of initial application of transition. In March 2019, the FASB issued ASU No. 2019-01, Leases (Topic 842): Codification Improvements, which made further targeted improvements including clarification regarding the determination of fair value of lease assets and liabilities and statement of cash flows and presentation guidance. In June 2020, FASB issued ASU 2020-05, Revenue from Contracts with Customers (Topic 606) and Leases (Topic 842): Effective Dates for Certain Entities, which extended the effective date of this guidance for non-public entities to fiscal years beginning after December 15, 2021. Topic 842 is effective for our annual reporting period beginning on January 1, 2022. We are currently evaluating the impact of the adoption of Topic 842 on our consolidated financial statements.

In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit losses: Measurement of Credit Losses on Financial Instruments (Topic 326), or Topic 326, which revises the impairment model to utilize an expected loss methodology in place of the currently used incurred loss methodology, which will result in more timely recognition of losses on financial instruments, including, but not limited to, available-for-sale debt securities and accounts receivable. Topic 326 is effective for our annual reporting period beginning on January 1, 2023. We are currently evaluating the impact of the adoption of Topic 326 on our consolidated financial statements.

In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848) — Facilitation of the Effects of Reference Rate Reform on Financial Reporting, or Topic 848, that provides optional relief to applying reference rate reform to contracts, hedging relationships, and other transactions that reference the London Interbank Offered Rate, or LIBOR, which will be discontinued by the end of 2021. Also, in January 2021, the FASB issued ASU No. 2021-01, Reference Rate Reform (Topic 848) — Scope, to clarify that cash flow hedges are eligible for certain optional expedients and exceptions for the application of subsequent assessment methods to assume perfect effectiveness as previously

presented in ASU 2020-04. Topic 848 is effective immediately and may be applied through December 31, 2022. We are currently evaluating the impact of the adoption of Topic 848 on our consolidated financial statements.

In August 2020, the FASB issued ASU No. 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): Accounting for Convertible Instruments and Contracts in an Entity's Own Equity. This standard eliminates the beneficial conversion and cash conversion accounting models for convertible instruments. It also amends the accounting for certain contracts in an entity’s own equity that are currently accounted for as derivatives because of specific settlement provisions. In addition, the new guidance modifies how particular convertible instruments and certain contracts that may be settled in cash or shares impact the diluted EPS computation. For public business entities, it is effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years using the fully retrospective or modified retrospective method. Early adoption is permitted but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. We are currently evaluating the impact of the adoption on our consolidated financial statements.

In October 2021, the FASB issued ASU No. 2021-08, Business Combinations (Topic 805), Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. This standard addresses diversity in practice and inconsistency related to recognition of an acquired contract liability, and payment terms and their effect on subsequent revenue recognized by the acquirer. For public business entities, it is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Entities should apply the provisions of the new standard prospectively to business combinations occurring on or after the effective date of the standard. Early adoption is permitted, including adoption in an interim period. We have not adopted the provisions of the new standard and will assess its impact on our consolidated financial statements upon adoption.

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events In November 2021, we acquired all of the outstanding equity interests in Earth Class Mail, Inc., a company that provides virtual mailbox solutions for small businesses. The total purchase price was $63 million, subject to customary adjustments, which was paid at closing and funded by our available cash on hand. We are currently evaluating the purchase price allocation for this transaction.

Related Parties	9 Months Ended
Related Parties	Sep. 30, 2021
Related Party Transactions [Abstract]
Related Parties	Related Parties For the three months ended September 30, 2021 and 2020, we received software and software maintenance services of $0.3 million and $0.2 million, respectively, from two software vendors controlled by our largest stockholder. For the nine months ended September 30, 2021 and 2020, we received software and software maintenance services of $0.9 million and $0.7 million, respectively from these vendors. Amounts due to these vendors were immaterial as of September 30, 2021 and December 31, 2020.

Fair Value Measurements (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	$ 30,214	$ 30,208
Total liabilities	0	0
Level 1 \| Interest rate caps and swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities		0
Level 1 \| Financial guarantee
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities		0
Level 1 \| Contingent consideration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities	0	0
Level 1 \| Available-for-sale debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Level 1 \| Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	30,214	5,208
Level 1 \| Restricted money market fund
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets		25,000
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Total liabilities	0	5,817
Level 2 \| Interest rate caps and swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities		5,817
Level 2 \| Financial guarantee
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities		0
Level 2 \| Contingent consideration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities	0	0
Level 2 \| Available-for-sale debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Level 2 \| Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Level 2 \| Restricted money market fund
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets		0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	1,123	1,050
Total liabilities	750	1,400
Level 3 \| Interest rate caps and swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities		0
Level 3 \| Financial guarantee
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities		150
Level 3 \| Contingent consideration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities	750	1,250
Level 3 \| Available-for-sale debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	1,123	1,050
Level 3 \| Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	$ 0	0
Level 3 \| Restricted money market fund
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets		$ 0

Condensed Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders' Deficit - USD ($) $ in Thousands	Total	IPO	Private Placement	Series A Redeemable Convertible Preferred Stock	Common Stock	Common Stock IPO	Common Stock Private Placement	Additional Paid-In Capital	Additional Paid-In Capital IPO	Additional Paid-In Capital Private Placement	Accumulated Deficit	Accumulated Other Comprehensive Loss
Beginning balance, shares at Dec. 31, 2019				23,081,000	124,382,000
Beginning balance at Dec. 31, 2019	$ (556,991)			$ 70,906	$ 125			$ 92,916			$ (644,305)	$ (5,727)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)					410,000
Issuance of common stock upon exercise of stock options	158							158
Issuance of common stock upon vesting of restricted stock awards (in shares)					136,000
Stock-based compensation	4,102							4,102
Shares surrendered for settlement of minimum statutory tax withholdings (in shares)					(197,000)
Shares surrendered for settlement of minimum statutory tax withholdings	(2,124)							(2,124)
Net interest and repayment of full recourse notes receivables	(6)							(6)
Special dividends	(73)							(73)
Other comprehensive income (loss)	(4,892)											(4,892)
Net (loss) income	(4,878)										(4,878)
Ending balance, shares at Mar. 31, 2020				23,081,000	124,731,000
Ending balance at Mar. 31, 2020	(564,704)			$ 70,906	$ 125			94,973			(649,183)	(10,619)
Beginning balance, shares at Dec. 31, 2019				23,081,000	124,382,000
Beginning balance at Dec. 31, 2019	(556,991)			$ 70,906	$ 125			92,916			(644,305)	(5,727)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	(6,527)
Net (loss) income	475
Ending balance, shares at Sep. 30, 2020				23,081,000	125,016,000
Ending balance at Sep. 30, 2020	(556,646)			$ 70,906	$ 126			99,312			(643,830)	(12,254)
Beginning balance, shares at Mar. 31, 2020				23,081,000	124,731,000
Beginning balance at Mar. 31, 2020	(564,704)			$ 70,906	$ 125			94,973			(649,183)	(10,619)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)					218,000
Issuance of common stock upon exercise of stock options	113				$ 1			112
Issuance of common stock upon vesting of restricted stock awards (in shares)					32,000
Stock-based compensation	3,099							3,099
Shares surrendered for settlement of minimum statutory tax withholdings (in shares)					(90,000)
Shares surrendered for settlement of minimum statutory tax withholdings	(865)							(865)
Special dividends	(58)							(58)
Notes receivable from shareholder	(1)							(1)
Other comprehensive income (loss)	(1,025)											(1,025)
Net (loss) income	(4,059)										(4,059)
Ending balance, shares at Jun. 30, 2020				23,081,000	124,891,000
Ending balance at Jun. 30, 2020	(567,500)			$ 70,906	$ 126			97,260			(653,242)	(11,644)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)					140,000
Issuance of common stock upon exercise of stock options	57							57
Issuance of common stock upon vesting of restricted stock awards (in shares)					54,000
Stock-based compensation	2,724							2,724
Shares surrendered for settlement of minimum statutory tax withholdings (in shares)					(69,000)
Shares surrendered for settlement of minimum statutory tax withholdings	(683)							(683)
Special dividends	(45)							(45)
Notes receivable from shareholder	(1)							(1)
Other comprehensive income (loss)	(610)											(610)
Net (loss) income	9,412										9,412
Ending balance, shares at Sep. 30, 2020				23,081,000	125,016,000
Ending balance at Sep. 30, 2020	(556,646)			$ 70,906	$ 126			99,312			(643,830)	(12,254)
Beginning balance, shares at Dec. 31, 2020				23,081,000	125,037,000
Beginning balance at Dec. 31, 2020	(550,632)			$ 70,906	$ 126			102,417			(639,348)	(13,827)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)					244,000
Issuance of common stock upon exercise of stock options	151							151
Issuance of common stock upon vesting of restricted stock awards (in shares)					27,000
Stock-based compensation	3,799							3,799
Shares surrendered for settlement of minimum statutory tax withholdings (in shares)					(9,000)
Shares surrendered for settlement of minimum statutory tax withholdings	(100)							(100)
Net interest and repayment of full recourse notes receivables	44							44
Special dividends	(23)							(23)
Other comprehensive income (loss)	2,964											2,964
Net (loss) income	(9,823)										(9,823)
Ending balance, shares at Mar. 31, 2021				23,081,000	125,299,000
Ending balance at Mar. 31, 2021	(553,620)			$ 70,906	$ 126			106,288			(649,171)	(10,863)
Beginning balance, shares at Dec. 31, 2020				23,081,000	125,037,000
Beginning balance at Dec. 31, 2020	$ (550,632)			$ 70,906	$ 126			102,417			(639,348)	(13,827)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)	539,000
Other comprehensive income (loss)	$ 12,203
Net (loss) income	(87,893)
Ending balance, shares at Sep. 30, 2021				0	197,048,000
Ending balance at Sep. 30, 2021	191,044			$ 0	$ 197			919,712			(727,241)	(1,624)
Beginning balance, shares at Mar. 31, 2021				23,081,000	125,299,000
Beginning balance at Mar. 31, 2021	(553,620)			$ 70,906	$ 126			106,288			(649,171)	(10,863)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)					213,000
Issuance of common stock upon exercise of stock options	136							136
Issuance of common stock upon vesting of restricted stock awards (in shares)					32,000
Stock-based compensation	44,810							44,810
Shares surrendered for settlement of minimum statutory tax withholdings (in shares)					(6,000)
Shares surrendered for settlement of minimum statutory tax withholdings	(109)							(109)
Special dividends	(16)							(16)
Other comprehensive income (loss)	1,323											1,323
Net (loss) income	(38,395)										(38,395)
Ending balance, shares at Jun. 30, 2021				23,081,000	125,538,000
Ending balance at Jun. 30, 2021	(545,871)			$ 70,906	$ 126			151,109			(687,566)	(9,540)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)					82,000
Issuance of common stock upon exercise of stock options	93							93
Issuance of common stock upon vesting of restricted stock awards (in shares)					112,000
Stock-based compensation	38,150							38,150
Shares surrendered for settlement of minimum statutory tax withholdings (in shares)					(49,000)
Shares surrendered for settlement of minimum statutory tax withholdings	(1,669)							(1,669)
Conversion of redeemable convertible preferred stock to common stock in connection with initial public offering (in shares)				(23,081,000)	46,162,000
Conversion of redeemable convertible preferred stock to common stock in connection with initial public offering	70,905			$ (70,906)	$ 46			70,859
Issuance of common stock (in shares)						21,989,000	3,214,000
Issuance of common stock		$ 581,833	$ 85,050			$ 22	$ 3		$ 581,811	$ 85,047
Deferred offering costs	(5,636)							(5,636)
Special dividends	(52)							(52)
Other comprehensive income (loss)	7,916											7,916
Net (loss) income	(39,675)										(39,675)
Ending balance, shares at Sep. 30, 2021				0	197,048,000
Ending balance at Sep. 30, 2021	$ 191,044			$ 0	$ 197			$ 919,712			$ (727,241)	$ (1,624)

Other Financial Statement Information (Tables)

9 Months Ended

Sep. 30, 2021

Other Financial Information [Abstract]

Summary of Changes in the Allowance

Changes in the allowance consisted of the following (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Beginning balance	$	5,114	$	2,447	$	5,256	$	2,461
Add: amounts recognized as a reduction of revenue	1,884		1,487		4,911		4,300
Add: bad debt expense recognized in general and administrative expense	146		348		177		1,028
Less: write-offs, net of recoveries	(2,415)		(720)		(5,615)		(4,227)
Ending balance	$	4,729	$	3,562	$	4,729	$	3,562

Summary of Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following (in thousands):


	September 30, 2021		December 31, 2020
Prepaid expenses	$	11,221	$	7,177
Deferred cost of revenue	2,369		1,967
Other current assets	2,748		1,392
Total prepaid expenses and other current assets	$	16,338	$	10,536

Summary of Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following (in thousands):


	September 30, 2021		December 31, 2020
Accrued payroll and related expenses	$	17,740	$	16,135
Accrued vendor payables	16,010		10,854
Derivative liabilities and hybrid debt	—		5,131
Sales allowances	4,952		4,856
Accrued sales, use and business taxes	1,711		1,789
Other	2,545		2,263
Total accrued expenses and other current liabilities	$	42,958	$	41,028

Summary of Depreciation and Amortization Expense

Depreciation and amortization expense of our property and equipment, including capitalized internal-use software, and intangible assets consisted of the following (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Cost of revenue	$	1,403	$	1,904	$	4,479	$	5,796
Sales and marketing	1,401		1,377		4,199		4,988
Technology and development	538		656		1,709		1,973
General and administrative	433		478		1,217		1,405
Total depreciation and amortization expense	$	3,775	$	4,415	$	11,604	$	14,162

Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Unrealized gain (loss) on interest rate swaps and cap, Net of Tax Amount	$ (903)			$ (432)			$ 1,448	$ (9,738)
Beginning Balance Accumulated other comprehensive loss, Net of Tax Amount			$ (13,827)				(13,827)
Other comprehensive income (loss), Net of Tax Amount	7,916	$ 1,323	2,964	(610)	$ (1,025)	$ (4,892)	12,203	(6,527)
Ending Balance Accumulated other comprehensive loss, Net of Tax Amount	(1,624)						(1,624)
Foreign currency translation adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance Before Tax Amount	(3,365)	(3,161)	(3,014)	856	554	(1,718)	(3,014)	(1,718)
Change during period, Before Tax Amount	1,452	(204)	(147)	(1,060)	304	2,272
Reclassification upon sale of business, Before Tax Amount					(2)
Ending Balance Before Tax Amount	(1,913)	(3,365)	(3,161)	(204)	856	554	(1,913)	(204)
Beginning Balance Net of Tax Amount	(3,365)	(3,161)	(3,014)	856	554	(1,718)	(3,014)	(1,718)
Change during period, Net of Tax Amount	1,452	(204)	(147)	(1,060)	304	2,272
Reclassification upon sale of business, Net of Tax Amount					(2)
Ending Balance Net of Tax Amount	(1,913)	(3,365)	(3,161)	(204)	856	554	(1,913)	(204)
Available-for-sale debt securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance Before Tax Amount	242	298	281	137	231	231	281	231
Unrealized gain (loss) Before Tax Amount	96	(56)	17
Loss from impairment, Before Tax Amount				0	(94)
Ending Balance Before Tax Amount	338	242	298	137	137	231	338	137
Beginning Balance Tax Effect	(25)	(40)	(36)				(36)
Unrealized gain (loss), Tax Effect	(24)	15	(4)
Ending Balance Tax Effect	(49)	(25)	(40)				(49)
Beginning Balance Available-for-sale debt securities, Net of Tax Amount	217	258	245	137	231	231	245	231
Unrealized gain (loss), Net of Tax Amount	72	(41)	13
Loss from impairment, Net of Tax Amount				0	(94)
Ending Balance Available-for-sale debt securities, Net of Tax Amount	289	217	258	137	137	231	289	137
Cash flow hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance Before Tax Amount	(8,472)	(10,580)	(14,708)	(16,811)	(15,169)	(5,627)	(14,708)	(5,627)
Unrealized gain (loss) on interest rate swaps and cap, Before Tax Amount	(235)	360	2,772	(576)	(2,691)	(9,704)
Reclassification of losses from interest rate cap to net income (loss), Before Tax Amount			28	43	52	64
Reclassification of prior hedge effectiveness to net income (loss), Before Tax Amount		1,748	1,328	1,132	997	98
Reclassification to net loss upon extinguishment of interest rate swaps, Before Tax Amount	8,707
Unrealized loss on interest rate swaps and cap, Before Tax Amount	(235)	360	2,772	(576)	(2,691)	(9,704)
Ending Balance Before Tax Amount	0	(8,472)	(10,580)	(16,212)	(16,811)	(15,169)	0	(16,212)
Beginning Balance Tax Effect	2,080	2,620	3,650	4,174	3,765	1,387	3,650	1,387
Unrealized gain (loss) on interest rate swaps and cap, tax effect, Tax Effect	(668)	(90)	(691)	144	671	2,418
Reclassification of losses from interest rate cap to net income (loss), Tax Effect			(8)	(11)	(13)	(16)
Reclassification of prior hedge effectiveness to net income (loss), Tax Effect		(450)	(331)	(282)	(249)	(24)
Reclassification to net loss upon extinguishment of interest rate swaps, Tax Effect	(1,412)
Ending Balance Tax Effect	0	2,080	2,620	4,025	4,174	3,765	0	4,025
Beginning Balance Cash flow hedges, Net of Tax Amount	(6,392)	(7,960)	(11,058)	(12,637)	(11,404)	(4,240)	(11,058)	(4,240)
Unrealized gain (loss) on interest rate swaps and cap, Net of Tax Amount	(903)	270	2,081	(432)	(2,020)	(7,286)
Reclassification of losses from interest rate cap to net income (loss), Net of Tax Amount			20	32	39	48
Reclassification of prior hedge effectiveness to net income (loss), Net of Tax Amount		1,298	997	850	748	74
Reclassification to net income (loss) upon extinguishment of interest rate swaps, Net Of Tax Amount	7,295
Ending Balance Cash flow hedges, Net of Tax Amount	0	(6,392)	(7,960)	(12,187)	(12,637)	(11,404)	0	(12,187)
Accumulated other comprehensive loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance Before Tax Amount	(11,595)	(13,443)	(17,441)	(15,818)	(14,384)	(7,114)	(17,441)	(7,114)
Other comprehensive income (loss), Before Tax Amount	10,020	1,848	3,998	(461)	(1,434)	(7,270)
Ending Balance Before Tax Amount	(1,575)	(11,595)	(13,443)	(16,279)	(15,818)	(14,384)	(1,575)	(16,279)
Beginning Balance Tax Effect	2,055	2,580	3,614	4,174	3,765	1,387	3,614	1,387
Other comprehensive income (loss), Tax Effect	(2,104)	(525)	(1,034)	(149)	409	2,378
Ending Balance Tax Effect	(49)	2,055	2,580	4,025	4,174	3,765	(49)	4,025
Beginning Balance Accumulated other comprehensive loss, Net of Tax Amount	(9,540)	(10,863)	(13,827)	(11,644)	(10,619)	(5,727)	(13,827)	(5,727)
Other comprehensive income (loss), Net of Tax Amount	7,916	1,323	2,964	(610)	(1,025)	(4,892)
Ending Balance Accumulated other comprehensive loss, Net of Tax Amount	$ (1,624)	$ (9,540)	$ (10,863)	$ (12,254)	$ (11,644)	$ (10,619)	$ (1,624)	$ (12,254)

Basic and Diluted Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2021

Earnings Per Share [Abstract]

Schedule of Earnings Per Share

The computation of earnings per share for the three and nine months ended September 30, 2021 and 2020 is as follows (in thousands, except per share amounts):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Numerator:
Net (loss) income	$	(39,675)	$	9,412	$	(87,893)	$	475
Less: amounts attributable to redeemable convertible preferred stock	—		(2,541)		—		(128)
Net income attributable to common stockholders—basic	(39,675)		6,871		(87,893)		347
Add: undistributed earnings reallocated to common stockholders	—		35		—		2
Net (loss) income attributable to common stockholders—diluted	$	(39,675)	$	6,906	$	(87,893)	$	349
Denominator:
Weighted-average common stock used in computing net (loss) income per share attributable to common stockholders—basic	196,351		124,846		149,207		124,647
Effect of potentially dilutive securities:
Stock options	—		2,306		—		2,565
Restricted stock units	—		86		—		127
Weighted-average common stock used in computing net (loss) income per share attributable to common stockholders—diluted	196,351		127,238		149,207		127,339
Net (loss) income per share attributable to common stockholders—basic	$	(0.20)	$	0.06	$	(0.59)	$	—
Net (loss) income per share attributable to common stockholders—diluted	$	(0.20)	$	0.05	$	(0.59)	$	—

Summary of Number of Options, Restricted Stock Units

The following table presents the number of options, RSUs, ESPPs and restricted stock excluded from the calculation of diluted net (loss) income per share attributable to common stockholders because they are anti-dilutive (in thousands):


	Three Months Ended September 30,		Nine Months Ended September 30,
	2021	2020	2021		2020
Options to purchase common stock	15,572	10,799	15,572		10,799
Restricted stock units	3,614	934	3,614		934
Employee Stock Purchase Plan	53	—	53		—
Restricted stock	50	100	50		100
Total	19,289	11,833	19,289	—	11,833

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions	Dec. 07, 2020	Oct. 28, 2020	Sep. 30, 2021	Apr. 20, 2020
Arbitration Against One of Our Vendors
Other Commitments [Line Items]
Damages sought value		$ 5.6
Counterdemand by the Vendors
Other Commitments [Line Items]
Damages sought value	$ 6.1
Dun and Brad Street
Other Commitments [Line Items]
Excess payment received from the service partner				$ 5.6
Non-cancellable Agreements With Vendors \| Advertising Media and Other Commitments
Other Commitments [Line Items]
Minimum non-cancellable commitment			$ 30.3
Contractual obligation			30.2
Contractual obligation remainder of fiscal year			$ 25.9

Basic and Diluted Earnings Per Share - Dilutive Securities (Detail) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	19,289	11,833	19,289	11,833
Options to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	15,572	10,799	15,572	10,799
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	3,614	934	3,614	934
Employee Stock Purchase Plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	53	0	53	0
Restricted stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	50	100	50	100

Related Parties (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Related Parties (Detail) - USD ($) $ in Millions	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Related Party Transactions [Abstract]
Revenue from related parties	$ 0.3	$ 0.2	$ 0.9	$ 0.7

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Temporary equity par or stated value per share (in dollars per share)		$ 0.001
Temporary equity shares authorized (in shares)		30,512,000
Temporary equity shares issued (in shares)		23,081,000
Temporary equity shares outstanding (in shares)		23,081,000
Preferred stock par value (in dollars per share)	$ 0.001
Preferred stock shares authorized (in shares)	100,000
Preferred stock shares issued (in shares)	0
Preferred stock shares outstanding (in shares)	0
Common stock par value (in dollars per share)	$ 0.001	$ 0.001
Common stock shares authorized (in shares)	1,000,000,000	264,720,000
Common stock shares outstanding (in shares)	197,048,000	125,037,000
Common stock shares issued (in shares)	197,048,000	125,037,000

Derivatives (Tables)

9 Months Ended

Sep. 30, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Derivative Instrument

Derivative financial instruments and hybrid debt consisted of the following (in thousands):


	December 31, 2020
Interest rate swap derivative liability, current portion	$	2,177

Interest rate swaps	3,640
Financial guarantee	150
Total derivative liability, net of current portion	$	3,790

Hybrid debt, current portion	$	2,954
Hybrid debt, net of current portion	$	8,152

Summary of Foreign Exchange Contracts, Statement of Financial Position

The impact from losses from our interest rate cap, interest rate swaps, and hybrid debt on our condensed consolidated statements of operations were as follows (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Settlement of interest rate swaps	$	—	$	256	$	1,052	$	698
Amortization of prior hedge effectiveness	19		1,230		3,095		2,226
Fair value adjustment of interest rate swap	364		—		364		—
Amortization of interest rate cap premium	—		44		28		159
Interest expense on hybrid debt	—		208		368		430
Discontinuance of interest rate swaps and prior hedge effectiveness	9,240		—		9,240		—
Total recorded in interest expense, net	$	9,623	$	1,738	$	14,147	$	3,513

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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+ Details

Summary of Significant Accounting Policies (Policies)

9 Months Ended

Sep. 30, 2021

Accounting Policies [Abstract]

Basis of Presentation

The operating results for the three and nine months ended September 30, 2021 are not necessarily indicative of the results expected for the full year ending December 31, 2021.

Segment Reporting and Geographic Information

Our Chief Executive Officer, as the chief operating decision maker, organizes our company, manages resource allocations, and measures performance on the basis of one operating segment.

equipment located outside of the U.S. was approximately 1% of our total property and equipment as of September 30, 2021 and December 31, 2020.

Use of Estimates

Certain Risks and Concentrations

Foreign Currency

Foreign Currency British Pound Sterling, or GBP, is the functional currency for our foreign subsidiaries. The financial statements of these foreign subsidiaries are translated to U.S. Dollars using period-end rates of exchange for assets and liabilities, historical rates of exchange for equity, and average rates of exchange for the period for revenue and expenses. Translation gains and losses are recorded in the accumulated other comprehensive loss as a component of our unaudited condensed consolidated statements of redeemable convertible preferred stock and stockholders’ equity (deficit). We recognized foreign currency transaction losses of $1.4 million and gains of $1.4 million during the three months ended September 30, 2021 and 2020, respectively, and losses of $1.0 million and $1.0 million during the nine months ended September 30, 2021 and 2020, respectively.

Revenue Recognition

For the three and nine months ended September 30, 2021 and 2020, revenue was comprised of the following (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Transaction	$	66,873	$	63,850	$	201,621	$	159,865
Subscription	73,317		59,348		208,194		167,415
Partner	7,689		8,397		23,128		21,117
Total revenue	$	147,879	$	131,595	$	432,943	$	348,397

Deferred Offering Costs

Deferred Offering Costs Deferred offering costs of $5.6 million have been recorded in additional paid-in capital against the proceeds received from our IPO during the three months ended September 30, 2021 and consist of costs incurred in connection with the sale of our common stock in our IPO and private placement, including certain legal, accounting, printing and other IPO related costs. There were no deferred offering costs as of December 31, 2020.

Recent Accounting Pronouncements

Recently Adopted Accounting Pronouncements

Accounting Pronouncements Not Yet Adopted

- Definition

Disclosure of accounting policy for revenue from contract with customer.

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+ Details

- Definition

Disclosure of accounting policy for segment reporting.

+ References + Details

Commitments and Contingencies - Future Minimum Payments for Operating Leases (Detail) $ in Thousands	Sep. 30, 2021 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2021 (remaining three months)	$ 869
2022	2,313
2023	377
Total minimum lease payments	$ 3,559

Long-term Debt (Detail) - USD ($)		1 Months Ended			3 Months Ended		9 Months Ended
Long-term Debt (Detail) - USD ($)	Jul. 02, 2021	Jul. 31, 2021	May 31, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020	Nov. 30, 2018
Debt Instrument [Line Items]
Repayment of term loan							$ 524,300,000	$ 4,012,000
Loss on debt extinguishment					$ (7,748,000)	$ 0	(7,748,000)	0
Proceeds from long term line of credit							0	40,000,000
Repayment of long term line of credit							$ 0	$ 40,000,000
2018 Term Loan
Debt Instrument [Line Items]
Debt instrument face value										$ 535,000,000.0
Repayment of term loan	$ 521,600,000	$ 521,600,000
Loss on debt extinguishment		7,700,000
Effective interest rate									5.10%
2018 Revolving Facility
Debt Instrument [Line Items]
Debt instrument face value										$ 40,000,000.0
2018 Revolving Facility \| Covid-19
Debt Instrument [Line Items]
Proceeds from long term line of credit				$ 40,000,000
Repayment of long term line of credit			$ 40,000,000
2018 Amended and Restated Revolving Facility
Debt Instrument [Line Items]
Line of credit maximum borrowing capacity		150,000,000.0
Debt issuance costs		$ 800,000
One month LIBOR floor		1.00%
Rate added to one month LIBOR		1.00%
LIBOR floor		0.00%
Rate added to LIBOR		2.00%
Basis spread on variable rate, initial reduction		0.25%
Basis spread on variable rate, further reduction		0.25%
Total net first lien leverage ratio, first reduction requirement		3.50
Total net first lien leverage ratio, second reduction requirement		2.50
Commitment fee		0.35%
Commitment fee reduction		0.10%
Total net first lien leverage ratio, maximum		3.50
2018 Amended and Restated Revolving Facility \| Federal Funds Effective Rate
Debt Instrument [Line Items]
Effective interest rate		0.50%
Letter of Credit
Debt Instrument [Line Items]
Line of credit maximum borrowing capacity		$ 20,000,000.0
Swingline Loan
Debt Instrument [Line Items]
Line of credit maximum borrowing capacity		$ 10,000,000.0

Disposition of Business (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
Disposition of Business (Detail) - USD ($) $ in Thousands	Apr. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Payment for working capital to buyers				$ 0	$ 1,194
Loss on disposal of business		$ 0	$ 0	$ 0	(1,764)
UNITED KINGDOM \| Beaumont ABS Limited
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Payment for working capital to buyers	$ 1,200
Loss on disposal of business					$ (1,800)

Other Financial Statement Information

9 Months Ended

Sep. 30, 2021

Other Financial Information [Abstract]

Other Financial Statement Information

Accounts Receivable

Changes in the allowance consisted of the following (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Beginning balance	$	5,114	$	2,447	$	5,256	$	2,461
Add: amounts recognized as a reduction of revenue	1,884		1,487		4,911		4,300
Add: bad debt expense recognized in general and administrative expense	146		348		177		1,028
Less: write-offs, net of recoveries	(2,415)		(720)		(5,615)		(4,227)
Ending balance	$	4,729	$	3,562	$	4,729	$	3,562

The allowance recognized as a reduction of revenue primarily relates to our installment plan receivables for which we expect we will not be entitled to a portion of the transaction price based on our historical experience with similar transactions. The allowance recognized against general and administrative expense represents an allowance relating to receivables that are no longer considered collectible.

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following (in thousands):


	September 30, 2021		December 31, 2020
Prepaid expenses	$	11,221	$	7,177
Deferred cost of revenue	2,369		1,967
Other current assets	2,748		1,392
Total prepaid expenses and other current assets	$	16,338	$	10,536

Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following (in thousands):


	September 30, 2021		December 31, 2020
Accrued payroll and related expenses	$	17,740	$	16,135
Accrued vendor payables	16,010		10,854
Derivative liabilities and hybrid debt	—		5,131
Sales allowances	4,952		4,856
Accrued sales, use and business taxes	1,711		1,789
Other	2,545		2,263
Total accrued expenses and other current liabilities	$	42,958	$	41,028

Depreciation and Amortization

Depreciation and amortization expense of our property and equipment, including capitalized internal-use software, and intangible assets consisted of the following (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Cost of revenue	$	1,403	$	1,904	$	4,479	$	5,796
Sales and marketing	1,401		1,377		4,199		4,988
Technology and development	538		656		1,709		1,973
General and administrative	433		478		1,217		1,405
Total depreciation and amortization expense	$	3,775	$	4,415	$	11,604	$	14,162

Deferred Revenue

Deferred revenue as of September 30, 2021 and December 31, 2020 was $154.0 million and $130.1 million, respectively. We recognized $79.4 million and $64.8 million of revenue during the three months ended September 30, 2021 and 2020, respectively, which were included in the deferred revenue balances as of June 30, 2021 and 2020, respectively, and $121.9 million and $98.5 million during the nine months ended September 30, 2021 and 2020, respectively, which were included in the deferred revenue balances as of December 31, 2020 and 2019, respectively. We expect to recognize substantially all of the remaining deferred revenue as of December 31, 2020 as revenue in 2021. Accordingly, we expect substantially all of the deferred revenue at September 30, 2021 will be recognized as revenue within the next twelve months.

We have omitted disclosure about the transaction price allocated to remaining performance obligations and when revenue will be recognized as revenue as our contracts with customers that have a duration of more than one year are immaterial.

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes We account for income taxes in accordance with Accounting Standard Codification, or ASC, 740, Income Taxes, which requires an estimate of the annual effective tax rate for the full year to be applied to the interim period, taking into account year-to-date amounts and projected results for the full year. Our effective tax rate could fluctuate significantly from quarter to quarter based on recurring and nonrecurring factors including, but not limited to: variations in the estimated and actual level of pre-tax income or loss by jurisdiction; changes in enacted tax laws and regulations, and interpretations thereof, including with respect to tax credits and state and local income taxes; developments in tax audits and other matters; recognition of excess tax benefits and tax deficiencies from stock-based compensation and certain nondeductible expenses. Changes in judgment from the evaluation of new information resulting in the recognition, derecognition, or remeasurement of a tax position taken in a prior annual period are recognized separately in the quarter of the change. We recorded a benefit from income taxes of $5.9 million and a provision for income taxes of $3.1 million for the three months ended September 30, 2021 and 2020, respectively. For the nine months ended September 30, 2021 and 2020, we recorded a benefit from income taxes of $6.8 million and provision for income taxes of $1.6 million, respectively. The effective tax rate for the three months ended September 30, 2021 and 2020 was 13.0% and 24.9%, respectively. For the nine months ended September 30, 2021 and 2020, the effective tax rate was approximately 7.2% and 77.5%, respectively. The difference from the federal statutory rate of 21% was primarily due to the valuation allowance against foreign losses, the recognition of significant excess tax benefits of stock-based compensation and other discrete adjustments. Gross unrecognized tax benefits were $7.8 million and $7.2 million as of September 30, 2021 and December 31, 2020, respectively. The gross unrecognized tax benefits, if recognized, would result in a reduction of approximately $7.8 million to the provision for income taxes thereby favorably impacting our effective tax rate. Our policy is to recognize interest and penalties related to income tax matters in income tax expense. For the periods presented, interest and penalties related to income tax positions were not material to our unaudited condensed consolidated financial statements. We are subject to taxation and file income tax returns in the U.S. at the federal, state levels, and in foreign jurisdictions. The federal income tax return for the years 2017 through 2019 and state income tax returns for the tax years 2008 through 2019 remain open to examination. We are under examination in one state and, while the outcome cannot be predicted at this time, it is not expected to have an impact on our results of operations, cash flows and financial condition.

- 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 + Details

Subsequent Events (Detail) $ in Millions	Nov. 10, 2021 USD ($)
Subsequent Event \| Earth Class Mail, Inc.
Subsequent Event [Line Items]
Total purchase price	$ 63

Stock-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended				3 Months Ended		9 Months Ended
	Jun. 30, 2021	Oct. 31, 2021	Jul. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Jun. 21, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)								971,000
Allocated share based compensation expenses						$ 38,074	$ 2,941	$ 86,996	$ 10,652
2021 Equity Incentive Plan \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized (in shares)	18,946,871			18,946,871
Employee Stock Option Member
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense total unrecognized						71,400		$ 71,400
Stock-based compensation weighted-average year								2 years 8 months 12 days
Employee Stock Option Member \| Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense total unrecognized						$ 9,700		$ 9,700
Stock-based compensation weighted-average year								3 years 10 months 24 days
Granted (in shares)				970,970		0
Allocated share based compensation expenses						$ 1,500
Employee Stock Option Member \| Executive Officer \| Time Based Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares that were modified for vesting conditions, outstanding (in shares)						1,706,888		1,706,888
Employee Stock Option Member \| Employees \| Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage that was modified						25.00%		25.00%
Employee Stock Option Member \| Executive Officers And Employees \| Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares that were modified for vesting conditions (in shares)						4,477,218		4,477,218
Employee Stock Option Member \| Executive Officers And Employees \| Performance Shares \| Service Based Vesting
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
New fair value								$ 76,600
Modified unrecognized compensation expense						$ 38,700		$ 38,700
Modified unrecognized compensation expense period								2 years 8 months 12 days
Employee Stock Option Member \| Executive Officers And Employees \| Modified Vesting Conditions \| Performance Shares \| Service Based Vesting
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share based compensation expenses	$ 23,300					$ 14,600		$ 37,900
Employee Stock Option Member \| One Executive Officer \| 2019 Performance Obligaitons
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares that were modified for vesting conditions (in shares)						3,627,936		3,627,936
New fair value								$ 11,400
Employee Stock Option Member \| One Executive Officer \| 2019 Performance Obligaitons \| Service Based Vesting
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share based compensation expenses	6,600					$ 4,100		10,600
Modified unrecognized compensation expense						8,500		$ 8,500
Modified unrecognized compensation expense period								2 years
Employee Stock Option Member \| Terminated Employees \| Modified Vesting Conditions
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share based compensation expenses				$ 900		$ 500		$ 1,400
Shares that were modified for vesting conditions (in shares)						63,235		63,235
Employee Stock Option Member \| Terminated Employees \| Modified Vesting Conditions \| Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share based compensation expenses		$ 1,300
Shares that were modified for vesting conditions (in shares)		51,404
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation weighted-average year								3 years 2 months 12 days
Allocated share based compensation expenses						$ 15,500	$ 800	$ 27,700	3,200
Fair value of vested options								20,000	$ 3,100
Remaining stock-based compensation expense						$ 60,300		$ 60,300
Granted (in shares)								1,978,000
Units vested upon effectiveness of IPO (in shares)						476,646		476,646
Number of shares cancelled in shares buyback program (in shares)			60,405
Restricted stock units \| Liquidity Event Restricted Stock Units \| Time Based Liquidity Event Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share based compensation expenses						$ 12,100		$ 22,800
Restricted stock units \| Executive Officer \| Liquidity Event Restricted Stock Units \| Time Based Liquidity Event Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Modified unrecognized compensation expense						26,000		$ 26,000
Modified unrecognized compensation expense period								3 years
Modified vesting conditions of shares outstanding (in shares)								1,725,942
New fair value of units due to remeasurement								$ 43,300
Accelerated compensation expense recognized	7,400					$ 9,900		17,300
Restricted stock units \| Executive Officer \| Service Based Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation weighted-average year						3 years 10 months 24 days
Allocated share based compensation expenses						$ 1,400
Remaining stock-based compensation expense						$ 9,200		$ 9,200
Granted (in shares)				388,389
Units granted, fair value				$ 10,800
Restricted stock units \| Employees \| Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)					30,434
Percentage of assets sold or transferred for equity instruments other than options to vest					50.00%
Restricted stock units \| Employees \| Liquidity Event Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)								1,338,028
Retainage period								6 years 6 months
Restricted stock units \| Employees \| Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares that were modified for vesting conditions, outstanding (in shares)						111,902		111,902
Vesting percentage that was modified, RSUs								25.00%
Restricted stock units \| Employees \| Performance Shares \| Service Vesting Condition
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
New fair value								$ 2,900
Modified unrecognized compensation expense, RSUs						$ 2,100		$ 2,100
Modified unrecognized compensation expense period, RSUs								3 years 1 month 6 days
Restricted stock units \| Employees \| Modified Vesting Conditions \| Performance Shares \| Service Vesting Condition
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share based compensation expenses	$ 200					$ 600		$ 900
Restricted stock units \| Maximum \| Employees \| Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage					100.00%
Par value (in dollars per share)					$ 29.46
Restricted stock units \| Minimum \| Employees \| Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage					0.00%
Par value (in dollars per share)					$ 19.64
2000 and 2020 Performance Options Performance Restricted Stock Units and Liquidity Restricted Event Restricted Stock Units \| Median
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Par value (in dollars per share)										$ 25.50
Employee Stock Purchase Plan \| Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized (in shares)	3,552,538			3,552,538

Fair Value Measurements

9 Months Ended

Sep. 30, 2021

Fair Value Disclosures [Abstract]

Fair Value Measurements

Fair value is defined as the price that would be received from selling an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date. The standard establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The fair value hierarchy is as follows:

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

Level 2 — Quoted prices for identical assets and liabilities in markets that are not active, quoted prices for similar assets and liabilities in active markets or financial instruments for which significant inputs are observable, either directly or indirectly.

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

At September 30, 2021, our financial assets and liabilities recorded at fair value on a recurring basis consisted of cash equivalents and available-for-sale debt securities. At December 31, 2020, our financial assets and liabilities recorded at fair value on a recurring basis consisted of cash equivalents, a restricted cash equivalent, available-for-sale debt securities, interest rate swaps, an interest rate cap and a financial guarantee derivative. Cash equivalents and the restricted cash equivalent consisted of money market funds valued using quoted prices in active markets, which represent Level 1 inputs in the fair value hierarchy. Our interest rate swaps and interest rate cap were valued using observable market inputs including LIBOR, swap rates and third-party dealer quotes, which represent Level 2 inputs in the fair value hierarchy. The available-for-sale debt securities and financial guarantee derivative were valued using a Monte Carlo simulation, which include inputs that represent Level 3 inputs in the fair value hierarchy.

The carrying amounts of accounts receivable, accounts payable and accrued expenses and other current liabilities approximate fair values because of the short-term nature of these items. The fair value of our long-term debt was estimated by using quoted or sales prices of similar debt instruments, which represent Level 2 inputs in the fair value hierarchy.

The following tables summarize our assets and liabilities that are measured at fair value on a recurring basis, by Level, within the fair value hierarchy (in thousands):


	September 30, 2021
	Level 1		Level 2		Level 3
Available-for-sale debt securities	$	—	$	—	$	1,123
Money market funds	30,214		—		—
Total assets	$	30,214	$	—	$	1,123
Contingent consideration	—		—		750
Total liabilities	$	—	$	—	$	750


	December 31, 2020
	Level 1		Level 2		Level 3
Available-for-sale debt securities	$	—	$	—	$	1,050
Money market fund	5,208		—		—
Restricted money market fund	25,000		—		—
Total assets	$	30,208	$	—	$	1,050
Interest rate caps and swaps	$	—	$	5,817	$	—
Financial guarantee	—		—		150
Contingent consideration	—		—		1,250
Total liabilities	$	—	$	5,817	$	1,400

- 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

Condensed Consolidated Statements of Operations (Parenthetical) $ in Thousands	9 Months Ended
	Sep. 30, 2020 USD ($)
Income Statement [Abstract]
Impairment of available for sale debt securities	$ 4,912
Loss from impairment	$ 94

Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2021

Accounting Policies [Abstract]

Summary of Revenue Recognition

For the three and nine months ended September 30, 2021 and 2020, revenue was comprised of the following (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Transaction	$	66,873	$	63,850	$	201,621	$	159,865
Subscription	73,317		59,348		208,194		167,415
Partner	7,689		8,397		23,128		21,117
Total revenue	$	147,879	$	131,595	$	432,943	$	348,397

Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2021	Oct. 31, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	001-35618
Entity Registrant Name	LegalZoom.com, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	95-4752856
Entity Address, Address Line One	101 North Brand Boulevard
Entity Address, Address Line Two	11th Floor
Entity Address, City or Town	Glendale
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	91203
City Area Code	323
Local Phone Number	962-8600
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	LZ
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	true
Entity Small Business	false
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		197,048,778
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001286139
Current Fiscal Year End Date	--12-31

Stock-based Compensation

9 Months Ended

Sep. 30, 2021

Share-based Payment Arrangement [Abstract]

Stock-based Compensation

Stock-based Compensation Cost

We recorded stock-based compensation cost in the following categories in the accompanying condensed consolidated statements of operations and balance sheets (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Cost of revenue	$	764	$	48	$	1,585	$	131
Sales and marketing	6,356		163		11,706		950
Technology and development	14,446		600		32,591		2,153
General and administrative	16,499		2,118		41,079		7,383
Total stock-based compensation expense	38,065		2,929		86,961		10,617
Amount capitalized to internal-use software	9		12		35		35
Total stock-based compensation	$	38,074	$	2,941	$	86,996	$	10,652

Stock Options

Stock option activity for the nine months ended September 30, 2021 is as follows (in thousands, except weighted-average exercise price and remaining contractual life):


	Number of Options	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life (in Years)	Aggregate Intrinsic Value
Outstanding at December 31, 2020	15,235	$	8.78	8.7	15,873
Granted	971	28.00
Exercised	(539)	0.71
Cancelled/forfeited	(95)	4.40
Outstanding at September 30, 2021	15,572	$	10.28	8.2	$	252,542
Vested and expected to vest at September 30, 2021	15,544	$	10.29	8.2	$	251,962
Exercisable at September 30, 2021	6,501	$	8.31	7.6	$	117,605

At September 30, 2021, total unrecognized stock-based compensation expense is $71.4 million, which is expected to be recognized over a weighted-average period of 2.7 years.

The weighted-average assumptions used to calculate the grant-date fair value of our stock option grants using the Black-Scholes Option Pricing Model were as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Expected life (years)	—		5.3		5.4		5.2
Risk-free interest rate	—	%	0.3	%	1.0	%	1.3	%
Expected volatility	—	%	47	%	46	%	44	%
Expected dividend yield	—	%	—	%	—	%	—	%

In June 2021, we granted 970,970 options to our executive officers that were contingent on the effectiveness of the registration statement of our IPO, which occurred on June 29, 2021, or IPO Options. Because the number of options and exercise price of the IPO Options were based on the IPO price to the public, the grant date for accounting purposes was not established until the effective date of our IPO. As the IPO was a performance condition, no stock-

based compensation expense was recognized until our IPO registration statement was declared effective. The related stock-based compensation expense for the three months ended September 30, 2021 was $1.5 million and stock-based compensation of $9.7 million will be recognized over a weighted-average requisite service period of approximately 3.9 years.

There were no awards granted for the three months ended September 30, 2021.

Restricted Stock Units

Restricted stock unit, or RSU, activity for the nine months ended September 30, 2021 is as follows (in thousands, except weighted-average grant-date fair value):


	Number of Shares	Weighted- Average Grant- Date Fair Value
Unvested at December 31, 2020	2,499	$	9.53
Granted	1,978	18.87
Cancelled/forfeited	(201)	11.29
Vested	(662)	19.34
Unvested at September 30, 2021	3,614	$	20.60

The fair value of vested RSUs for the nine months ended September 30, 2021 and 2020 was $20.0 million and $3.1 million, respectively. Our RSUs consist of time-based RSUs and various performance RSUs. For the three and nine months ended September 30, 2021, total stock-based compensation expense related to RSUs was $15.5 million and $27.7 million, respectively. For the three and nine months ended September 30, 2020, total stock-based compensation expense related to RSUs was $0.8 million and $3.2 million, respectively. At September 30, 2021, total remaining stock-based compensation expense for unvested RSU awards was $60.3 million, which is expected to be recognized over a weighted-average period of 3.2 years.

In June 2021, we granted 388,389 RSUs with a value of $10.8 million to our executive officers that were contingent on the effectiveness of the registration statement of our IPO, or IPO RSUs. As the IPO was a performance condition, no stock-based compensation expense was recognized until our IPO registration statement was declared effective. Stock-based compensation expense for the three months ended September 30, 2021 was $1.4 million and stock-based compensation of $9.2 million will be recognized over a weighted-average requisite service period of approximately 3.9 years.

Upon the effectiveness of our IPO and through September 30,2021, there were 476,646 RSUs that vested. Such shares of common stock will not be settled until after the lock-up period relating to our IPO ends in the fourth quarter of 2021.

During the nine months ended September 30, 2021, we granted 1,338,028 liquidity event RSUs, or LERSUs, to various employees, which only vest upon the achievement of up to four-years of service and upon the consummation of a change in control, or CIC event, which included an IPO. Employees will be eligible to retain any vested awards up to a period of 6.5 years from their respective grant dates. If the recipient employee terminates for any reason other than for cause, the employee shall retain any service-vested LERSUs until 6.5 years from the date of grant or the earlier settlement of the service-vested LERSUs upon the consummation of a CIC event. For the LERSUs, recognition of expense does not occur until the consummation of a CIC event and expense is recognized thereafter for any remaining service period, as such events are not considered probable of occurring prior to the CIC event for stock-based compensation purposes.

Upon the effective date of our IPO registration statement on June 29, 2021, we commenced recognition of stock-based compensation for all LERSUs as the CIC performance event and service conditions for vested RSUs were satisfied. Stock-based compensation expense for these LERSUs of $12.1 million and $22.8 million was recognized on a graded vesting basis during the three and nine months ended September 30, 2021, respectively, for the portion of service completed by the employee from the grant date through September 30, 2021.

In March 2021, we granted 30,434 RSUs to various employees where the RSUs will vest depending upon the appreciation of the fair value of our common stock compared to the grant-date fair value of our common stock and upon the consummation of a CIC event, which included an IPO, merger, acquisition, or sale of more than 50% of our assets, or performance RSUs. The performance RSUs vest on a linear basis, starting at 0% with a fair value of our common stock equal to $19.64 per share and ending at 100% upon reaching a fair value of our common stock of $29.46 per share. The performance options were subsequently modified in June 2021, prior to the effective date of our IPO registration statement, as discussed below.

Stock-option and RSU activity described above, including total stock-based compensation expense recognized and total remaining stock-based compensation expense, is inclusive of awards modified during the period as discussed below.

Modification of Stock-Based Compensation Awards

In June 2021, we modified the vesting conditions of certain stock options and RSUs as described below.

We modified the vesting conditions of 4,477,218 outstanding performance options of certain executive officers and employees so that the performance options do not fully vest immediately upon an IPO. Instead, subject to and contingent upon the effective date of an IPO, the modified performance options for executive officers will vest monthly over a four-year period from their original vesting commencement dates and the modified performance options of certain employees will vest 25% on the first anniversary from the vesting commencement date, and then vest monthly over the remaining service period, subject to continued employment through the applicable vesting dates. As the modified awards contain a performance condition that is satisfied upon an IPO, we remeasured the fair value of the performance options on the date of modification. This new fair value of $76.6 million will be recognized as stock-based compensation expense using the graded vesting method, with an immediate stock-based compensation expense recognized on the effective date of our IPO registration statement for the modified performance options for which the service vesting condition was satisfied on or prior to the effective date of the IPO registration statement, and all remaining compensation expense will be recognized thereafter over the remaining service period. We recognized stock-based compensation expense of $23.3 million from the effective date of our IPO registration statement through June 30, 2021. We recognized stock-based compensation of $14.6 million and $37.9 million for the three and nine months ended September 30, 2021, respectively. The remaining compensation of $38.7 million will be recognized over a remaining weighted-average service period of 2.7 years.

We modified the vesting conditions of 3,627,936 outstanding 2019 performance options of an executive officer so that in the event of an IPO the modified 2019 performance options will vest monthly over a four-year period from the original vesting commencement date in 2019, subject to continued employment of the executive officer, rather than vesting upon the fourth anniversary of the original date of grant based on achieving certain stock price thresholds. Incremental stock-based compensation expense as a result of this modification was $11.4 million. Upon our IPO, we recognized stock-based compensation expense for the modified 2019 performance options for which the service vesting condition was satisfied on or prior to the effective date of the IPO registration statement, and all remaining compensation will be recognized thereafter over the remaining service period using the graded vesting method. We recognized stock-based compensation expense of $6.6 million from the effective date of our IPO registration statement through June 30, 2021. We recognized stock-based compensation of $4.1 million and $10.6 million for the three and nine months ended September 30, 2021, respectively. The remaining compensation expense of $8.5 million will be recognized over a remaining weighted-average service period of 2.0 years.

We modified the vesting conditions of 111,902 outstanding performance RSUs of certain employees so that the modified performance RSUs do not vest immediately upon an IPO. Instead, subject to and contingent upon the effective date of an IPO registration statement, the modified performance RSUs vest 25% on the first anniversary from their respective vesting commencement dates, then monthly over the remaining service period, subject to the continued employment through the applicable vesting dates. As the modified RSUs contain a performance condition that is satisfied upon an IPO, we remeasured the fair value of the performance RSUs on the date of modification. This new fair value of approximately $2.9 million will be recognized as stock-based compensation expense using the graded vesting method, with an immediate stock-based compensation expense recognized on the effective date of our IPO registration statement for the performance RSUs for which the service vesting condition was satisfied on or prior to the effective date of the IPO registration statement, and all remaining compensation will be recognized thereafter over the remaining service period. We recognized stock-based compensation expense of $0.2 million from the effective date of our IPO registration statement through June 30, 2021. We recognized stock-based compensation of $0.6 million and $0.9 million for the three and nine months ended September 30, 2021, respectively. The remaining compensation expense of $2.1 million will be recognized over a remaining weighted-average service period of 3.1 years.

We modified the vesting conditions of 1,725,942 outstanding LERSUs and 1,706,888 outstanding time-based options of certain executive officers to amend the severance vesting acceleration benefit applicable for the LERSUs and to remove the CIC event vesting acceleration benefit for the time-based options. There was no incremental stock-based compensation associated with the modification of the time-based options. We remeasured the fair value of the LERSUs on the date of modification and this new fair value of approximately $43.3 million will be recognized using the graded vesting method, with an immediate stock-based compensation expense recognized on the effective date of our IPO registration statement for the modified LERSUs that have satisfied the service-vesting condition on or prior to the effective date of our IPO registration statement, and all remaining compensation will be recognized thereafter over the remaining service period. We recognized stock-based compensation expense of $7.4 million from the effective date of our IPO registration statement through June 30, 2021. We recognized stock-based compensation of $9.9 million and $17.3 million for the three and nine months ended September 30, 2021, respectively. The remaining compensation expense of $26.0 million will be recognized over a remaining weighted-average service period of 3.0 years.

We modified 63,235 vested options to extend the exercise period for terminated employees who are not able to exercise their options during the IPO lock-up period. We recognized $0.9 million in incremental stock-based compensation in June 2021 related to this modification, and we recognized stock-based compensation of $0.5 million and $1.4 million for the three and nine months ended September 30, 2021, respectively. In October 2021 we modified 51,404 vested options to extend the exercise period for terminated employees who are not able to exercise their options during the IPO lock-up period. We will recognize $1.3 million in incremental stock-based compensation in October 2021.

The fair value of the modified 2020 performance options, 2019 performance option, performance RSUs and LERSUs were remeasured using the fair value of our common stock, as approved by the Pricing Committee of our board of directors, which was $25.50 per share, the midpoint of the price range set forth on the cover page of the preliminary prospectus filed with the SEC on June 21, 2021 as part of our registration statement on Form S-1/A (File no. 333-256803).

2021 Equity Incentive Plan

In June 2021, our board of directors adopted our 2021 Equity Incentive Plan, or our 2021 Plan. All equity-based awards going forward will be granted under the 2021 Plan. An aggregate of 18,946,871 shares of our common stock are reserved for issuance under our 2021 Plan, as well as any future automatic annual increases in the number of shares of common stock reserved for issuance under our 2021 Plan.

2021 Employee Stock Purchase Plan

In June 2021, our board of directors adopted our 2021 Employee Stock Purchase Plan, or the 2021 ESPP. We authorized the issuance of 3,552,538 shares of common stock under the 2021 ESPP. Our 2021 ESPP is implemented through a series of offerings under which eligible employees are granted rights to purchase shares of our common stock on specified dates during such offerings at a discounted price per share.

Under the 2021 ESPP our employees may purchase common stock through payroll deductions at a price equal to 85% of the lower of the fair market value of the stock at the beginning of the offering period or at the end of each applicable purchase period. The 2021 ESPP generally provides for offering periods of six months in duration with purchase periods ending on either May 15 or November 15. Contributions under the 2021 ESPP are limited to a maximum of 15% of an employee’s eligible compensation. ESPP purchases are settled with common stock from the ESPP’s previously-authorized and available pool of shares. The stock-based compensation expense incurred for the current offering period is immaterial.

Buyback program

In July 2021, we cancelled our buyback program for certain members of senior management for up to 60,405 outstanding RSUs. The RSUs will continue to vest over their remaining service period conditions.

Basic and Diluted Earnings Per Share

9 Months Ended

Sep. 30, 2021

Earnings Per Share [Abstract]

Basic and Diluted Earnings Per Share

The computation of earnings per share for the three and nine months ended September 30, 2021 and 2020 is as follows (in thousands, except per share amounts):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Numerator:
Net (loss) income	$	(39,675)	$	9,412	$	(87,893)	$	475
Less: amounts attributable to redeemable convertible preferred stock	—		(2,541)		—		(128)
Net income attributable to common stockholders—basic	(39,675)		6,871		(87,893)		347
Add: undistributed earnings reallocated to common stockholders	—		35		—		2
Net (loss) income attributable to common stockholders—diluted	$	(39,675)	$	6,906	$	(87,893)	$	349
Denominator:
Weighted-average common stock used in computing net (loss) income per share attributable to common stockholders—basic	196,351		124,846		149,207		124,647
Effect of potentially dilutive securities:
Stock options	—		2,306		—		2,565
Restricted stock units	—		86		—		127
Weighted-average common stock used in computing net (loss) income per share attributable to common stockholders—diluted	196,351		127,238		149,207		127,339
Net (loss) income per share attributable to common stockholders—basic	$	(0.20)	$	0.06	$	(0.59)	$	—
Net (loss) income per share attributable to common stockholders—diluted	$	(0.20)	$	0.05	$	(0.59)	$	—

Basic net (loss) income attributable to common stockholders per share is computed by dividing the net (loss) income attributable to common stock by the weighted average number of common stock outstanding for the period. For periods in which we have reported a net loss, diluted net loss per share attributable to common stockholders was the same as basic net loss per share, since the impact of potentially dilutive common stock and other equity instruments was anti-dilutive.


	Three Months Ended September 30,		Nine Months Ended September 30,
	2021	2020	2021		2020
Options to purchase common stock	15,572	10,799	15,572		10,799
Restricted stock units	3,614	934	3,614		934
Employee Stock Purchase Plan	53	—	53		—
Restricted stock	50	100	50		100
Total	19,289	11,833	19,289	—	11,833

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities
Net (loss) income	$ (87,893)	$ 475
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	11,604	14,162
Amortization of debt issuance costs	1,335	1,943
Amortization of prior hedge effectiveness	3,095	2,226
Stock-based compensation	86,725	9,890
Impairment of long-lived assets	872	555
Impairment of available-for-sale debt securities	0	4,818
Loss on debt extinguishment	7,955	0
Discontinuance of interest rate swaps and write-off of prior hedge effectiveness	8,688	0
Loss on sale of business	0	1,764
Deferred income taxes	(7,218)	(141)
Change in fair value of financial guarantee	(150)	(1,100)
Change in fair value of derivative instruments	392	169
Change in fair value of other equity security	(1,031)	0
Unrealized foreign exchange loss	1,002	1,039
Other	4	11
Changes in operating assets and liabilities, net of effects of disposal of business:
Accounts receivable	(3,040)	(2,997)
Prepaid expenses and other current assets	(5,562)	374
Other assets	(2,283)	1,102
Accounts payable	14,635	11,354
Accrued expenses and other liabilities	7,416	4,431
Income tax payable	(368)	17
Deferred revenue	23,978	31,977
Net cash provided by operating activities	60,156	82,069
Cash flows from investing activities
Purchase of property and equipment	(8,500)	(7,819)
Payment upon extinguishment of interest rate swaps	(3,283)	0
Sale of business, net of cash sold	0	(1,194)
Net cash used in investing activities	(11,783)	(9,013)
Cash flows from financing activities
Repayment of capital lease obligations	(24)	(24)
Payment of debt issuance costs	(767)	0
Repayment of 2018 Term Loan	(524,300)	(4,012)
Proceeds from 2018 Revolving Facility	0	40,000
Repayment of 2018 Revolving Facility	0	(40,000)
Repayment of hybrid debt	(1,332)	(757)
Payment upon extinguishment of hybrid debt	(9,774)	0
Payment of contingent consideration	(1,049)	0
Payment of special dividends	(115)	(239)
Proceeds from issuance of common stock in initial public offering, net of underwriting discounts and commissions	581,833	0
Proceeds from private placement, net of underwriting discounts and commissions	85,050	0
Payment of stock issuance costs	(5,634)	0
Repurchases of common stock for tax withholding obligations	(1,462)	(3,459)
Proceeds from exercise of stock options, net of cash paid for employee tax withholding	412	113
Net cash provided by (used in) financing activities	122,838	(8,378)
Effect of exchange rate changes on cash, cash equivalents and restricted cash equivalent	23	(89)
Net increase in cash, cash equivalents and restricted cash equivalent	171,234	64,589
Cash, cash equivalents and restricted cash equivalent, at beginning of the period	139,470	74,180
Cash, cash equivalents and restricted cash equivalent, at end of the period	310,704	138,769
Reconciliation of cash, cash equivalents, and restricted cash equivalent reported in the consolidated balance sheets
Restricted cash equivalent	0	25,000
Total cash, cash equivalents, and restricted cash equivalent shown in the condensed consolidated statements of cash flows	310,704	138,769
Non-cash investing and financing activities
Conversion of Series A redeemable convertible preferred stock into common stock in connection with initial public offering	70,906	0
Purchase of property and equipment included in accounts payable and accrued expenses and other current liabilities	486	1,282
Change in fair value of hedged interest rate swaps and interest rate cap	(5,817)	49
Transfer of interest rate swaps derivative liability to hybrid debt	$ 0	$ 12,345

Summary of Significant Accounting Policies - Summary of Revenue Recognition (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Revenue	$ 147,879	$ 131,595	$ 432,943	$ 348,397
Transaction
Disaggregation of Revenue [Line Items]
Revenue	66,873	63,850	201,621	159,865
Subscription
Disaggregation of Revenue [Line Items]
Revenue	73,317	59,348	208,194	167,415
Partner
Disaggregation of Revenue [Line Items]
Revenue	$ 7,689	$ 8,397	$ 23,128	$ 21,117

- 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 http://asc.fasb.org/extlink&oid=120311839&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 http://asc.fasb.org/extlink&oid=120311839&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 http://asc.fasb.org/extlink&oid=120311839&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 http://asc.fasb.org/extlink&oid=120311839&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 http://asc.fasb.org/extlink&oid=120311839&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 http://asc.fasb.org/extlink&oid=121604090&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 http://asc.fasb.org/extlink&oid=120311839&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 http://asc.fasb.org/extlink&oid=120311839&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 http://asc.fasb.org/extlink&oid=120311839&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 http://asc.fasb.org/extlink&oid=121604090&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 http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Long-term Debt	9 Months Ended
Long-term Debt	Sep. 30, 2021
Debt Disclosure [Abstract]
Long-term Debt	Long-term Debt In November 2018, we entered into an amended first lien credit and guaranty agreement, or the 2018 Credit Facility, which consisted of a first lien term loan facility, or 2018 Term Loan, with a principal amount of $535.0 million and a 2018 Revolving Facility of $40.0 million, or the 2018 Revolving Facility. In July 2021, upon the completion of our IPO, we repaid the then outstanding principal of $521.6 million of our 2018 Term Loan in full. We incurred a loss on debt extinguishment of $7.7 million related to unamortized debt issuance costs. On July 2, 2021, we entered into an amended and restated credit and guaranty agreement, or 2021 Revolving Facility, providing for revolving borrowings of up to $150.0 million with an availability period of five years. Under the 2021 Revolving Facility, we can use up to $20.0 million in letters of credit as well as borrowings on same-day notice, referred to as swingline loans, in an amount of up to $10.0 million. Additional debt issuance costs of $0.8 million were allocated to the 2021 Revolving Facility. The interest rate applicable to the 2021 Revolving Facility is, at our option, at a rate equal to the greatest of (i) the administrative agent’s prime rate (ii) the federal funds effective rate plus 1/2 of 1.0% or (iii) one month LIBOR (subject to a 1.00% floor), plus 1.00% or LIBOR (subject to a 0.00% floor) plus 2.00%. The interest rate margins under the 2021 Revolving Facility are subject to one reduction of 0.25% and a further reduction of 0.25% upon achieving total net first lien leverage ratios of 3.50 to 1.00 and 2.50 to 1.00, respectively. We are required to pay a commitment fee in respect of unutilized commitments under the 2021 Revolving Facility. The commitment fee is, initially, 0.35% per annum. The commitment fee is subject to one reduction of 0.10% if the total net first lien leverage ratio does not exceed 3.50 to 1.00. We are also required to pay customary letter of credit fees and agency fees. We have the option to voluntarily repay outstanding loans under the 2021 Revolving Facility at any time without premium or penalty, other than customary “breakage” costs with respect to LIBOR loans. There is no scheduled amortization under the 2021 Revolving Facility. Any principal amount outstanding is due and payable in full at maturity, five years from the closing date of the 2021 Revolving Facility. Obligations under the 2021 Revolving Facility are guaranteed by our existing and future direct and indirect material wholly-owned domestic subsidiaries, subject to certain exceptions. In March 2020, in response to the World Health Organization’s declaration of COVID-19, we drew down the full $40.0 million available from our 2018 Revolving Facility. The 2018 Revolving Facility was paid in full in May 2020. We determined that the fair value of our long-term debt approximated its carrying value as of December 31, 2020. We estimated the fair value of our long-term debt using Level 2 inputs based on recent observable trades of our 2018 Term Loan. The effective interest rate of the 2018 Term Loan was 5.1% for December 31, 2020. At September 30, 2021, we had no amounts outstanding under our 2021 Revolving Facility or any outstanding letters of credit and at December 31, 2020, we had no amounts outstanding under our 2018 Revolving Facility or any outstanding letters of credit. We were in compliance with all financial covenants as of September 30, 2021 and December 31, 2020 under the respective credit facilities.

Disposition of Business	9 Months Ended
Disposition of Business	Sep. 30, 2021
Discontinued Operations and Disposal Groups [Abstract]
Disposition of Business	Disposition of Business Beaumont ABS Limited In April 2020, we sold our conveyancing business in the U.K., Beaumont ABS Limited, to a third-party buyer and paid $1.2 million in working capital to the buyers. Our loss on sale of this business was $1.8 million for the nine months ended September 30, 2020.

Investments	9 Months Ended
Investments	Sep. 30, 2021
Investments [Abstract]
Investments	Investments Impairment of Available-for-sale Debt Securities In June 2020, we fully impaired our available-for-sale investment in firma.de Firmenbaukasten AG and we incurred a loss of $4.8 million because the present value of cash flows expected to be collected was less than the amortized cost basis of the investment. Therefore, we recognized an other-than-temporary impairment of EUR €4.3 million ($4.8 million) in our condensed consolidated statements of operations for the nine months ended September 30, 2020.

Stock-based Compensation - Schedule of Fair Value Assumptions and Techniques for Stock Options (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Expected life (years)	0 years	5 years 3 months 18 days	5 years 4 months 24 days	5 years 2 months 12 days
Risk-free interest rate	0.00%	0.30%	1.00%	1.30%
Expected volatility	0.00%	47.00%	46.00%	44.00%
Expected dividend yield	0.00%	0.00%	0.00%	0.00%

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement [Abstract]
Revenue	$ 147,879	$ 131,595	$ 432,943	$ 348,397
Cost of revenue	47,267	43,841	141,086	114,712
Gross profit	100,612	87,754	291,857	233,685
Operating expenses:
Sales and marketing	72,572	46,833	209,364	130,487
Technology and development	26,865	10,911	65,790	31,619
General and administrative	28,192	10,424	75,202	35,697
Impairment of long-lived and other assets	493	0	872	555
Loss on sale of business	0	0	0	1,764
Total operating expenses	128,122	68,168	351,228	200,122
(Loss) income from operations	(27,510)	19,586	(59,371)	33,563
Interest expense, net	(9,957)	(8,658)	(27,923)	(26,785)
Other (expense) income, net	(368)	1,610	300	149
Loss on debt extinguishment	(7,748)	0	(7,748)	0
Impairment of available-for-sale debt securities of $4,912, net of $94 loss recognized in other comprehensive loss	0	0	0	(4,818)
(Loss) income before income taxes	(45,583)	12,538	(94,742)	2,109
(Benefit from) provision for from income taxes	(5,908)	3,126	(6,849)	1,634
Net (loss) income	$ (39,675)	$ 9,412	$ (87,893)	$ 475
Net (loss) income per share attributable to common stockholders – basic (in dollars per share)	$ (0.20)	$ 0.06	$ (0.59)	$ 0
Net (loss) income per share attributable to common stockholders - diluted (in dollars per share)	$ (0.20)	$ 0.05	$ (0.59)	$ 0
Weighted-average shares used to compute net (loss) income per share attributable to common stockholder - basic (in shares)	196,351	124,846	149,207	124,647
Weighted-average shares used to compute net (loss) income per share attributable to common stockholder - diluted (in shares)	196,351	127,238	149,207	127,339

Accumulated Other Comprehensive Loss (Tables)

9 Months Ended

Sep. 30, 2021

Stockholders' Equity Note [Abstract]

Schedule of Changes in Accumulated Other Comprehensive Income (Loss)

Changes in accumulated other comprehensive loss consisted of the following (in thousands):


	Nine Months Ended September 30, 2021
	Before Tax Amount		Tax Effect		Net of Tax Amount
Foreign currency translation adjustments:
Beginning balance at December 31, 2020	$	(3,014)	$	—	$	(3,014)
Change during period	(147)		—		(147)
Ending balance at March 31, 2021	(3,161)		—		(3,161)
Change during period	(204)		—		(204)
Ending balance at Ending balance at June 30, 2021	(3,365)		—		(3,365)
Change during period	1,452		—		1,452
Ending balance at September 30, 2021	$	(1,913)	$	—	$	(1,913)
Available-for-sale debt securities:
Beginning balance at December 31, 2020	$	281	$	(36)	$	245
Unrealized gain	17		(4)		13
Ending balance at March 31, 2021	298		(40)		258
Unrealized loss	(56)		15		(41)
Ending balance at Ending balance at June 30, 2021	242		(25)		217
Unrealized gain	96		(24)		72
Ending balance at September 30, 2021	$	338	$	(49)	$	289
Cash flow hedges:
Beginning balance at December 31, 2020	$	(14,708)	$	3,650	$	(11,058)
Unrealized gain on interest rate swaps and cap	2,772		(691)		2,081
Reclassification of losses from interest rate cap to net loss	28		(8)		20
Reclassification of prior hedge effectiveness to net loss	1,328		(331)		997
Ending balance at March 31, 2021	(10,580)		2,620		(7,960)
Unrealized gain on interest rate swaps	360		(90)		270
Reclassification of prior hedge effectiveness to net loss	1,748		(450)		1,298
Ending balance at Ending balance at June 30, 2021	(8,472)		2,080		(6,392)
Unrealized loss on interest rate swaps	(235)		(668)		(903)
Reclassification to net loss upon extinguishment of interest rate swaps	8,707		(1,412)		7,295
Ending balance at September 30, 2021	$	—	$	—	$	—
Accumulated other comprehensive loss:
Beginning balance at December 31, 2020	$	(17,441)	$	3,614	$	(13,827)
Other comprehensive income	3,998		(1,034)		2,964
Ending balance at March 31, 2021	(13,443)		2,580		(10,863)
Other comprehensive income	1,848		(525)		1,323
Ending balance at Ending balance at June 30, 2021	(11,595)		2,055		(9,540)
Other comprehensive income	10,020		(2,104)		7,916
Ending balance at September 30, 2021	$	(1,575)	$	(49)	$	(1,624)


	Nine Months Ended September 30, 2020
	Before Tax Amount		Tax Effect		Net of Tax Amount

Foreign currency translation adjustments:
Beginning balance at December 31, 2019	$	(1,718)	$	—	$	(1,718)
Change during period	2,272		—		2,272
Ending balance at March 31, 2020	554		—		554
Change during period	304		—		304
Reclassification upon sale of business	(2)		—		(2)
Ending balance at Ending balance at June 30, 2020	856		—		856
Change during period	(1,060)		—		(1,060)
Ending balance at September 30, 2020	$	(204)	$	—	$	(204)
Available-for-sale debt securities:
Beginning balance at December 31, 2019	$	231	$	—	$	231
Ending balance at March 31, 2020	231		—		231
Loss from impairment	(94)		—		(94)
Ending balance at June 30, 2020	137		—		137
Loss from impairment	—		—		—
Ending balance at September 30, 2020	$	137	$	—	$	137
Cash flow hedges:
Beginning balance at December 31, 2019	$	(5,627)	$	1,387	$	(4,240)
Unrealized loss on interest rate swaps and cap	(9,704)		2,418		(7,286)
Reclassification of losses from interest rate cap to net loss	64		(16)		48
Reclassification of prior hedge effectiveness to net loss	98		(24)		74
Ending balance at March 31, 2020	(15,169)		3,765		(11,404)
Unrealized loss on interest rate swaps and cap	(2,691)		671		(2,020)
Reclassification of losses from interest rate cap to net loss	52		(13)		39
Reclassification of prior hedge effectiveness to net loss	997		(249)		748
Ending balance at June 30, 2020	(16,811)		4,174		(12,637)
Unrealized loss on interest rate swaps and cap	(576)		144		(432)
Reclassification of losses from interest rate cap to net income	43		(11)		32
Reclassification of prior hedge effectiveness to net income	1,132		(282)		850
Ending balance at September 30, 2020	$	(16,212)	$	4,025	$	(12,187)
Accumulated other comprehensive loss:
Beginning balance at December 31, 2019	$	(7,114)	$	1,387	$	(5,727)
Other comprehensive loss	(7,270)		2,378		(4,892)
Ending balance at March 31, 2020	(14,384)		3,765		(10,619)
Other comprehensive loss	(1,434)		409		(1,025)
Ending balance at June 30, 2020	(15,818)		4,174		(11,644)
Other comprehensive loss	(461)		(149)		(610)
Ending balance at September 30, 2020	$	(16,279)	$	4,025	$	(12,254)

Accumulated Other Comprehensive Loss

9 Months Ended

Sep. 30, 2021

Stockholders' Equity Note [Abstract]

Accumulated Other Comprehensive Loss

Changes in accumulated other comprehensive loss consisted of the following (in thousands):


	Nine Months Ended September 30, 2021
	Before Tax Amount		Tax Effect		Net of Tax Amount
Foreign currency translation adjustments:
Beginning balance at December 31, 2020	$	(3,014)	$	—	$	(3,014)
Change during period	(147)		—		(147)
Ending balance at March 31, 2021	(3,161)		—		(3,161)
Change during period	(204)		—		(204)
Ending balance at Ending balance at June 30, 2021	(3,365)		—		(3,365)
Change during period	1,452		—		1,452
Ending balance at September 30, 2021	$	(1,913)	$	—	$	(1,913)
Available-for-sale debt securities:
Beginning balance at December 31, 2020	$	281	$	(36)	$	245
Unrealized gain	17		(4)		13
Ending balance at March 31, 2021	298		(40)		258
Unrealized loss	(56)		15		(41)
Ending balance at Ending balance at June 30, 2021	242		(25)		217
Unrealized gain	96		(24)		72
Ending balance at September 30, 2021	$	338	$	(49)	$	289
Cash flow hedges:
Beginning balance at December 31, 2020	$	(14,708)	$	3,650	$	(11,058)
Unrealized gain on interest rate swaps and cap	2,772		(691)		2,081
Reclassification of losses from interest rate cap to net loss	28		(8)		20
Reclassification of prior hedge effectiveness to net loss	1,328		(331)		997
Ending balance at March 31, 2021	(10,580)		2,620		(7,960)
Unrealized gain on interest rate swaps	360		(90)		270
Reclassification of prior hedge effectiveness to net loss	1,748		(450)		1,298
Ending balance at Ending balance at June 30, 2021	(8,472)		2,080		(6,392)
Unrealized loss on interest rate swaps	(235)		(668)		(903)
Reclassification to net loss upon extinguishment of interest rate swaps	8,707		(1,412)		7,295
Ending balance at September 30, 2021	$	—	$	—	$	—
Accumulated other comprehensive loss:
Beginning balance at December 31, 2020	$	(17,441)	$	3,614	$	(13,827)
Other comprehensive income	3,998		(1,034)		2,964
Ending balance at March 31, 2021	(13,443)		2,580		(10,863)
Other comprehensive income	1,848		(525)		1,323
Ending balance at Ending balance at June 30, 2021	(11,595)		2,055		(9,540)
Other comprehensive income	10,020		(2,104)		7,916
Ending balance at September 30, 2021	$	(1,575)	$	(49)	$	(1,624)


	Nine Months Ended September 30, 2020
	Before Tax Amount		Tax Effect		Net of Tax Amount

Foreign currency translation adjustments:
Beginning balance at December 31, 2019	$	(1,718)	$	—	$	(1,718)
Change during period	2,272		—		2,272
Ending balance at March 31, 2020	554		—		554
Change during period	304		—		304
Reclassification upon sale of business	(2)		—		(2)
Ending balance at Ending balance at June 30, 2020	856		—		856
Change during period	(1,060)		—		(1,060)
Ending balance at September 30, 2020	$	(204)	$	—	$	(204)
Available-for-sale debt securities:
Beginning balance at December 31, 2019	$	231	$	—	$	231
Ending balance at March 31, 2020	231		—		231
Loss from impairment	(94)		—		(94)
Ending balance at June 30, 2020	137		—		137
Loss from impairment	—		—		—
Ending balance at September 30, 2020	$	137	$	—	$	137
Cash flow hedges:
Beginning balance at December 31, 2019	$	(5,627)	$	1,387	$	(4,240)
Unrealized loss on interest rate swaps and cap	(9,704)		2,418		(7,286)
Reclassification of losses from interest rate cap to net loss	64		(16)		48
Reclassification of prior hedge effectiveness to net loss	98		(24)		74
Ending balance at March 31, 2020	(15,169)		3,765		(11,404)
Unrealized loss on interest rate swaps and cap	(2,691)		671		(2,020)
Reclassification of losses from interest rate cap to net loss	52		(13)		39
Reclassification of prior hedge effectiveness to net loss	997		(249)		748
Ending balance at June 30, 2020	(16,811)		4,174		(12,637)
Unrealized loss on interest rate swaps and cap	(576)		144		(432)
Reclassification of losses from interest rate cap to net income	43		(11)		32
Reclassification of prior hedge effectiveness to net income	1,132		(282)		850
Ending balance at September 30, 2020	$	(16,212)	$	4,025	$	(12,187)
Accumulated other comprehensive loss:
Beginning balance at December 31, 2019	$	(7,114)	$	1,387	$	(5,727)
Other comprehensive loss	(7,270)		2,378		(4,892)
Ending balance at March 31, 2020	(14,384)		3,765		(10,619)
Other comprehensive loss	(1,434)		409		(1,025)
Ending balance at June 30, 2020	(15,818)		4,174		(11,644)
Other comprehensive loss	(461)		(149)		(610)
Ending balance at September 30, 2020	$	(16,279)	$	4,025	$	(12,254)

Investments (Detail) € in Millions, $ in Millions	1 Months Ended	9 Months Ended
Investments (Detail) € in Millions, $ in Millions	Jun. 30, 2020 USD ($)	Sep. 30, 2020 USD ($)	Sep. 30, 2020 EUR (€)
Investments [Abstract]
Impairment other than temporary on available for sale investments recognized in the income statement	$ 4.8	$ 4.8	€ 4.3

Other Financial Statement Information - Summary of Accrued Expenses and Other Current Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Other Financial Information [Abstract]
Accrued payroll and related expenses	$ 17,740	$ 16,135
Accrued vendor payables	16,010	10,854
Derivative liabilities and hybrid debt	0	5,131
Sales allowances	4,952	4,856
Accrued sales, use and business taxes	1,711	1,789
Other	2,545	2,263
Total accrued expenses and other current liabilities	$ 42,958	$ 41,028

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2021

Fair Value Disclosures [Abstract]

Summary of Assets and Liabilities that are Measured at Fair Value on a Recurring Basis

The following tables summarize our assets and liabilities that are measured at fair value on a recurring basis, by Level, within the fair value hierarchy (in thousands):


	September 30, 2021
	Level 1		Level 2		Level 3
Available-for-sale debt securities	$	—	$	—	$	1,123
Money market funds	30,214		—		—
Total assets	$	30,214	$	—	$	1,123
Contingent consideration	—		—		750
Total liabilities	$	—	$	—	$	750


	December 31, 2020
	Level 1		Level 2		Level 3
Available-for-sale debt securities	$	—	$	—	$	1,050
Money market fund	5,208		—		—
Restricted money market fund	25,000		—		—
Total assets	$	30,208	$	—	$	1,050
Interest rate caps and swaps	$	—	$	5,817	$	—
Financial guarantee	—		—		150
Contingent consideration	—		—		1,250
Total liabilities	$	—	$	5,817	$	1,400

Derivatives

9 Months Ended

Sep. 30, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives

Interest Rate Swaps

At June 30, 2021, we held interest rate swap contracts with an aggregate notional amount of $394.2 million, which were designated as cash flow hedges. In July 2021, upon the full repayment of our 2018 Term Loan, our interest rate swaps were discontinued as cash flow hedges and were subsequently extinguished. We paid $13.6 million to extinguish our interest rate swaps and hybrid debt. Upon discontinuance of the interest rate swaps as cash flow hedges, the unrealized losses of $9.2 million, for the intervening period were recognized in interest expense, net.

Financial Guarantee

In June 2021, our financial guarantee of the personal loan of a former executive officer was waived and we recognized a gain of $0.1 million from the cancellation of our financial guarantee derivative in other income (expense), net in the accompanying condensed consolidated statements of operations. The associated restricted cash equivalent of $25.0 million became unrestricted and was reclassified to cash and cash equivalents.

Derivative financial instruments and hybrid debt consisted of the following (in thousands):


	December 31, 2020
Interest rate swap derivative liability, current portion	$	2,177

Interest rate swaps	3,640
Financial guarantee	150
Total derivative liability, net of current portion	$	3,790

Hybrid debt, current portion	$	2,954
Hybrid debt, net of current portion	$	8,152

There were no interest rate swaps as of September 30, 2021.

The impact from losses from our interest rate cap, interest rate swaps, and hybrid debt on our condensed consolidated statements of operations were as follows (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Settlement of interest rate swaps	$	—	$	256	$	1,052	$	698
Amortization of prior hedge effectiveness	19		1,230		3,095		2,226
Fair value adjustment of interest rate swap	364		—		364		—
Amortization of interest rate cap premium	—		44		28		159
Interest expense on hybrid debt	—		208		368		430
Discontinuance of interest rate swaps and prior hedge effectiveness	9,240		—		9,240		—
Total recorded in interest expense, net	$	9,623	$	1,738	$	14,147	$	3,513

Other Financial Statement Information - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Other Financial Information [Abstract]
Contract with customer liability	$ 154.0		$ 154.0		$ 130.1
Contract with customer liability revenue recognized	$ 79.4	$ 64.8	$ 121.9	$ 98.5

Derivatives - Summary of Derivative Instrument (Detail) $ in Thousands	Dec. 31, 2020 USD ($)
Schedule of derivative instrument [Line Items]
Total derivative liability, net of current portion	$ 3,790
Hybrid debt, current portion	2,954
Hybrid debt, net of current portion	8,152
Interest rate swaps
Schedule of derivative instrument [Line Items]
Interest rate swap derivative liability, current portion	2,177
Total derivative liability, net of current portion	3,640
Financial guarantee
Schedule of derivative instrument [Line Items]
Total derivative liability, net of current portion	$ 150

Other Financial Statement Information - Summary of Depreciation and Amortization Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disclosure Details Of Depreciation And Amortization [Line Items]
Depreciation and amortization expenses	$ 3,775	$ 4,415	$ 11,604	$ 14,162
Cost of revenue
Disclosure Details Of Depreciation And Amortization [Line Items]
Depreciation and amortization expenses	1,403	1,904	4,479	5,796
Sales and marketing
Disclosure Details Of Depreciation And Amortization [Line Items]
Depreciation and amortization expenses	1,401	1,377	4,199	4,988
Technology and development
Disclosure Details Of Depreciation And Amortization [Line Items]
Depreciation and amortization expenses	538	656	1,709	1,973
General and administrative
Disclosure Details Of Depreciation And Amortization [Line Items]
Depreciation and amortization expenses	$ 433	$ 478	$ 1,217	$ 1,405

Basic and Diluted Earnings Per Share - Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Numerator:
Net (loss) income	$ (39,675)	$ (38,395)	$ (9,823)	$ 9,412	$ (4,059)	$ (4,878)	$ (87,893)	$ 475
Less: amounts attributable to redeemable convertible preferred stock	0			(2,541)			0	(128)
Net income attributable to common stockholders—basic	(39,675)			6,871			(87,893)	347
Add: undistributed earnings reallocated to common stockholders	0			35			0	2
Net (loss) income attributable to common stockholders—diluted	$ (39,675)			$ 6,906			$ (87,893)	$ 349
Denominator:
Weighted-average common stock used in computing net (loss) income per share attributable to common stockholders—basic (in shares)	196,351			124,846			149,207	124,647
Weighted-average common stock used in computing net (loss) income per share attributable to common stockholders—diluted (in shares)	196,351			127,238			149,207	127,339
Net (loss) income per attributable to common stockholders - basic (in dollars per share)	$ (0.20)			$ 0.06			$ (0.59)	$ 0
Net (loss) income per attributable to common stockholders - diluted (in dollars per share)	$ (0.20)			$ 0.05			$ (0.59)	$ 0
Options to purchase common stock
Denominator:
Effect of potential dilutive securities (in shares)	0			2,306			0	2,565
Restricted stock units
Denominator:
Effect of potential dilutive securities (in shares)	0			86			0	127