0001628280-21-017415 | 10-Q | XBRL Viewer

Trade accounts receivable, net of allowances of $480 and $530 at June 30, 2021 and December 31, 2020, respectively

$ 226,485

^[1]

$ 196,190

$ 194,868

^[1]

$ 38,424

^[2]

$ 32,375

^[2]

$ 39,240

$ 33,912

66,667

75,882

69,056

53,275

46,571

30,854

565

632

554

10,480

9,213

8,284

5,993

4,621

2,128

14,432

15,009

13,283

10,880

8,094

6,475

2,687

2,325

1,113

6,314

3,632

1,107

321,316

299,251

287,236

115,440

95,307

79,869

17,223

16,779

15,130

14,044

15,195

9,549

541,850

541,480

539,818

$ 539,818

539,818

501,145

189,021

197,504

202,878

218,430

235,099

252,171

25,993

23,638

22,202

16,631

13,420

7,104

28,112

28,898

5,359

2,557

5,440

2,090

1,123,515

1,107,920

1,074,285

906,920

904,279

851,928

9,037

5,744

6,967

3,715

3,546

2,343

38,263

28,131

31,916

26,441

27,269

18,903

417

1,066

713

1,081

819

147

180,707

167,868

160,002

129,853

119,828

85,583

228,424

202,809

199,598

161,090

151,462

106,976

57,750

53,711

45,507

27,429

20,621

14,442

4,306

4,285

5,087

15,356

18,441

26,614

29,076

33,839

13,079

9,084

11,714

464

319,556

294,644

263,271

414,850

403,557

320,245

Preferred stock, $0.001 par value, 50,000,000 shares authorized at June 30, 2021 and December 31, 2020; no shares issued and outstanding at June 30, 2021 and December 31, 2020

Common stock, $0.001 par value, 500,000,000 shares authorized at June 30, 2021 and December 31, 2020; 118,249,912 and 116,992,472 shares issued and outstanding at June 30, 2021 and December 31, 2020, respectively

118

117

103

917,116

909,966

903,116

570,434

568,756

565,372

(113,275)

(96,808)

(92,219)

(78,467)

(68,137)

(33,792)

803,959

^[2]

813,276

^[2]

811,014

492,070

^[2]

$ 492,140

^[2]

500,722

^[2]

531,683

$ 565,177

$ 1,123,515

$ 1,107,920

$ 1,074,285

$ 906,920

$ 904,279

$ 851,928

[1]	Includes the three months ended March 31, 2021, which has been revised to correct immaterial errors. See Note 1 for more information.
[2]	Certain prior period amounts have been revised to correct immaterial errors. See Note 1 for more information.

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Thousands

Jun. 30, 2021

Dec. 31, 2020

^[1]

Allowance

$ 480

$ 530

Preferred stock, par value (in dollars per share)

$ 0.001

Preferred stock authorized (in shares)

50,000,000

Preferred stock issued (in shares)

Preferred stock outstanding (in shares)

Common stock, par value (in dollars per share)

$ 0.001

Common stock, shares authorized (in shares)

500,000,000

Common stock issued (in shares)

118,249,912

116,992,472

Common stock outstanding (in shares)

118,249,912

116,992,472

[1]	Certain prior period amounts have been revised to correct immaterial errors. See Note 1 for more information.

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

12 Months Ended

Jun. 30, 2021

Mar. 31, 2021

Jun. 30, 2020

^[1]

Jun. 30, 2021

^[2]

Jun. 30, 2020

^[1]

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

$ 86,238

$ 80,727

$ 62,264

$ 166,965

$ 122,317

$ 269,132

$ 203,965

$ 147,384

2,860

2,777

2,678

5,637

5,355

10,753

10,266

8,969

19,342

17,256

13,628

36,598

28,643

61,008

55,962

49,318

66,896

63,471

48,636

130,367

93,674

208,124

148,003

98,066

32,617

30,167

20,781

62,784

43,785

98,885

73,103

53,749

17,203

15,626

11,949

32,829

24,587

52,513

42,898

31,527

27,508

16,244

6,528

43,752

17,743

51,603

31,509

22,444

5,623

5,627

5,634

11,250

11,308

22,575

22,416

21,491

82,951

67,664

44,892

150,615

97,423

225,576

169,926

129,211

(16,055)

(4,193)

3,744

(20,248)

(3,749)

(17,452)

(21,923)

(31,145)

(167)

(55)

(4,690)

(222)

(9,468)

(10,741)

(21,423)

(18,203)

(308)

(218)

(13)

(526)

(317)

(722)

(1,252)

(418)

220

221

(16,530)

(4,466)

(923)

(20,996)

(13,443)

(34,037)

(44,378)

(49,545)

(123)

(60)

3,113

9,955

10,033

11,966

$ (16,467)

^[1]

$ (4,589)

$ (834)

$ (21,056)

^[1]

$ (10,330)

$ (24,082)

$ (34,345)

$ (37,579)

$ (0.14)

$ (0.04)

$ (0.01)

$ (0.18)

$ (0.10)

$ (0.22)

$ (0.33)

$ (0.37)

Weighted-average shares used to compute net loss per share, basic (in shares)

$ (0.14)

$ (0.04)

$ (0.01)

$ (0.18)

$ (0.10)

$ (0.22)

$ (0.33)

$ (0.37)

117,909,720

117,386,322

102,862,404

117,649,467

102,861,475

108,908,597

102,752,092

102,325,465

Weighted-average shares used to compute net loss per share, diluted (in shares)

117,909,720

117,386,322

102,862,404

117,649,467

102,861,475

108,908,597

102,752,092

102,325,465

$ 80,718

$ 74,482

$ 58,600

$ 155,200

$ 112,804

$ 248,879

$ 175,118

$ 113,867

13,875

12,014

8,740

25,889

17,988

39,529

31,457

24,099

(24,082)

Services

3,929

4,003

2,632

7,932

6,719

14,519

19,014

20,201

2,607

2,465

2,210

5,072

5,300

10,726

14,239

16,250

License

Balance (in shares) at Dec. 31, 2017

$ 1,591

$ 2,242

$ 1,032

$ 3,833

$ 2,794

$ 5,734

$ 9,833

$ 13,316

[1]	Certain prior period amounts have been revised to correct immaterial errors. See Note 1 for more information.
[2]	Includes the three months ended March 31, 2021, which has been revised to correct immaterial errors. See Note 1 for more information.

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)
$ in Thousands

Total

Common Stock

Additional Paid‑In Capital

Accumulated Deficit

102,300,010

Balance at Dec. 31, 2017

$ 565,177

$ 102

$ 561,288

$ 3,787

Increase (Decrease) in Stockholders' Equity [Roll Forward]

322,851

1,770

$ 1

1,769

2,315

Balance (in shares) at Dec. 31, 2018

(37,579)

102,649,701

Balance at Dec. 31, 2018

531,683

$ 103

565,372

(33,792)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

168,391

923

$ 0

923

2,461

Balance (in shares) at Dec. 31, 2019

(34,345)

102,843,612

Balance at Dec. 31, 2019

500,722

^[1]

$ 103

568,756

(68,137)

^[1]

Increase (Decrease) in Stockholders' Equity [Roll Forward]

18,792

103

^[1]

103

1,575

^[1]

1,575

Balance (in shares) at Jun. 30, 2020

^[1]

(10,330)

102,862,404

Balance at Jun. 30, 2020

492,070

^[1]

$ 103

570,434

(78,467)

^[1]

Balance (in shares) at Dec. 31, 2019

102,843,612

Balance at Dec. 31, 2019

500,722

^[1]

$ 103

568,756

(68,137)

^[1]

Increase (Decrease) in Stockholders' Equity [Roll Forward]

526,460

2,985

6,743

Balance (in shares) at Dec. 31, 2020

(24,082)

116,992,472

Balance at Dec. 31, 2020

811,014

^[1]

$ 117

903,116

(92,219)

^[1]

Balance (in shares) at Mar. 31, 2020

102,862,404

Balance at Mar. 31, 2020

492,140

^[1]

$ 103

569,670

(77,633)

^[1]

Increase (Decrease) in Stockholders' Equity [Roll Forward]

764

^[1]

764

Balance (in shares) at Jun. 30, 2020

^[1]

(834)

102,862,404

Balance at Jun. 30, 2020

492,070

^[1]

$ 103

570,434

(78,467)

^[1]

Balance (in shares) at Dec. 31, 2020

116,992,472

Balance at Dec. 31, 2020

811,014

^[1]

$ 117

903,116

(92,219)

^[1]

Increase (Decrease) in Stockholders' Equity [Roll Forward]

713,423

4,019

$ 1

4,018

2,832

Balance (in shares) at Mar. 31, 2021

(4,589)

117,705,895

Balance at Mar. 31, 2021

813,276

^[1]

$ 118

909,966

(96,808)

^[1]

Balance (in shares) at Dec. 31, 2020

116,992,472

Balance at Dec. 31, 2020

811,014

^[1]

$ 117

903,116

(92,219)

^[1]

Increase (Decrease) in Stockholders' Equity [Roll Forward]

1,257,440

7,063

^[1]

$ 1

7,062

6,938

^[1]

6,938

Balance (in shares) at Jun. 30, 2021

^[1]

(21,056)

^[2]

(21,056)

118,249,912

Balance at Jun. 30, 2021

803,959

^[1]

$ 118

917,116

(113,275)

^[1]

Balance (in shares) at Mar. 31, 2021

117,705,895

Balance at Mar. 31, 2021

813,276

^[1]

$ 118

909,966

(96,808)

^[1]

Increase (Decrease) in Stockholders' Equity [Roll Forward]

544,017

3,044

^[1]

3,044

4,106

^[1]

4,106

Balance (in shares) at Jun. 30, 2021

^[1]

(16,467)

118,249,912

Balance at Jun. 30, 2021

$ 803,959

^[1]

$ 118

$ 917,116

$ (113,275)

^[1]

[1]	Certain prior period amounts have been revised to correct immaterial errors. See Note 1 for more information.
[2]	Includes the three months ended March 31, 2021, which has been revised to correct immaterial errors. See Note 1 for more information.

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

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Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

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Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 4.E)
-URI http://asc.fasb.org/extlink&oid=122038336&loc=d3e74512-122707

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(31))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(30))
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Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands

6 Months Ended

Jun. 30, 2021

^[2]

Jun. 30, 2020

Adjustments to reconcile net loss to cash provided by operating activities:

^[1]

$ (21,056)

$ (10,330)

19,538

19,170

^[1]

5,861

3,452

^[1]

249

571

^[1]

2,398

^[1]

(41)

812

^[1]

6,938

1,575

^[1]

(669)

(3,082)

^[1]

4,237

(3,700)

^[1]

454

(156)

^[1]

2,249

(7,316)

^[1]

(238)

(278)

^[1]

(2,986)

928

^[1]

(11,848)

(8,035)

^[1]

2,284

202

^[1]

(1,889)

(2,371)

^[1]

32,627

16,833

^[1]

(86)

1,240

^[1]

38,022

9,515

^[1]

(3,041)

^[1]

Proceeds from sale of equipment and leasehold improvements

(5,211)

(1,366)

^[1]

^[1]

(8,230)

(1,366)

^[1]

(530)

^[1]

Cash paid for contingent consideration

(243)

(2,203)

^[1]

(4,206)

^[1]

Net cash provided by (used in) financing activities

7,063

103

^[1]

2,084

(2,100)

^[1]

Effect of exchange rate changes on cash and cash equivalents

(259)

^[1]

31,617

6,049

^[1]

^[1]

194,868

32,375

Supplemental disclosures of cash flow information:

226,485

38,424

^[1]

9,262

^[1]

832

411

^[1]

Operating lease assets obtained in exchange for operating lease liabilities

300

2,865

^[1]

$ (19)

$ 0

^[1]

[1]	Certain prior period amounts have been revised to correct immaterial errors. See Note 1 for more information.
[2]	Includes the three months ended March 31, 2021, which has been revised to correct immaterial errors. See Note 1 for more information.

Basis of presentation and description of business

6 Months Ended

Jun. 30, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of presentation and description of business

Description of business

Jamf Holding Corp. and its wholly owned subsidiaries, collectively, are referred to as the “Company,” “we,” “us” or “our.” We are the standard in Apple Enterprise Management, and our cloud software platform is the only vertically-focused Apple infrastructure and security platform of scale in the world. We help organizations connect, manage and protect Apple products, apps and corporate resources in the cloud without ever having to touch the devices. With our products, Apple devices can be deployed to employees brand new in the shrink-wrapped box, automatically set up and personalized at first power-on and continuously administered throughout the life of the device. Our customers are located throughout the world.

Vista Equity Partners acquisition

On November 13, 2017, Vista Equity Partners (“Vista”) acquired a majority share of all the issued and outstanding shares of the Company at the purchase price of $733.8 million (the “Vista Acquisition”). As of June 30, 2021, funds controlled by Vista owned approximately 53.5% of our outstanding common stock. As a result, we are a “controlled company” under NASDAQ Global Select Market (“NASDAQ”) corporate governance rules.

Emerging growth company status

We are currently an emerging growth company as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act, until such time as those standards apply to private companies.

We have elected to use this extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date that it is (i) no longer an emerging growth company or (ii) affirmatively and irrevocably opt out of the extended transition period provided in the JOBS Act. As a result, our consolidated financial statements may not be comparable to companies that comply with the new or revised accounting pronouncements as of public company effective dates.

On June 30, 2021, the last day of our second fiscal quarter in 2021, the market value of our common stock held by non-affiliates exceeded $700.0 million. Accordingly, we will be deemed a large accelerated filer as of December 31, 2021 and will no longer qualify as an emerging growth company and be able to take advantage of the extended timeline to comply with new or revised accounting standards applicable to public companies beginning with our Annual Report on Form 10-K for the year ending December 31, 2021.

Unaudited interim consolidated financial information

The accompanying interim consolidated balance sheet as of June 30, 2021, the consolidated statements of operations and of stockholders’ equity for the three and six months ended June 30, 2021 and 2020 and the consolidated statements of cash flows for the six months ended June 30, 2021 and 2020 and the related footnote disclosures are unaudited. These unaudited interim consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and, in management’s opinion, include all adjustments necessary for the fair presentation of the consolidated financial position, results of operations, and cash flows of the Company. Except for the revision discussed below, all adjustments made were of a normal recurring nature. The results for the three and six months ended June 30, 2021 are not necessarily indicative of the results to be expected for the year ending December 31, 2021 or for any future period.

Basis of presentation

The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). Certain reclassifications of prior period amounts have been made to conform to the current presentation. In the fourth quarter of 2020, the Company reclassified on-premise subscription revenue from license revenue to subscription revenue in the consolidated statements of operations on a retroactive basis. The amount reclassified for the three

and six months ended June 30, 2020 was $5.8 million and $10.3 million, respectively. The revised presentation is consistent with our disaggregated revenue disclosure and is more consistent with how investors and other users of the financial statements evaluate overall subscription revenue. The reclassification had no impact on total revenue.

Revision of previously issued consolidated financial statements

In connection with the preparation of its financial statements for the quarter ended June 30, 2021, the Company identified immaterial errors related to certain commissions that were incorrectly capitalized in prior periods. The commissions, as well as the associated payroll taxes and retirement plan contributions, were not incremental to the acquisition of customer contracts and should have been expensed as incurred in accordance with GAAP, rather than capitalized. As a result, sales and marketing expenses were understated and deferred contract costs were overstated by $2.5 million, $2.0 million, $1.8 million and $0.8 million for the years ended December 31, 2020, 2019 and 2018 and the three months ended March 31, 2021, respectively.

In accordance with Staff Accounting Bulletin (“SAB”) No. 99, Materiality and SAB No. 108, Considering the Effects of Prior Year Misstatements When Quantifying Misstatements in Current Year Financial Statements, the Company evaluated the materiality of this error both quantitatively and qualitatively and determined that it was not material to our previously issued consolidated financial statements. However, adjusting for the cumulative effect of this error in the consolidated statement of operations for 2021 would be material to the Company’s results for this period as the cumulative amount of the error increased over time. As such, the Company has revised its previously issued consolidated financial statements as of and for the years ended December 31, 2020, 2019 and 2018 and its unaudited consolidated financial statements as of and for the quarter ended March 31, 2021 and quarters and year-to-date periods ended June 30, 2020 and September 30, 2020 to correct the error.

The revisions also include the corrections of other immaterial errors that the Company had previously recorded as out-of-period adjustments in the period of identification, as well as other previously identified immaterial errors. The previously recorded out-of-period adjustments included the establishment of state valuation allowances, as well as other immaterial errors. The Company had previously determined that these errors did not, both individually and in the aggregate, result in a material misstatement of our previously issued consolidated financial statements and reached the same conclusion when aggregating these immaterial errors with the commissions error described above.

The accompanying financial statements and relevant footnotes to the consolidated financial statements in this Quarterly Report on Form 10-Q have been revised to correct for the immaterial errors discussed above. The tables below provide reconciliations of our previously reported amounts to revised amounts to correct for these immaterial errors in our consolidated financial statements as of and for the years ended December 31, 2020, 2019 and 2018 and our unaudited consolidated financial statements as of and for the quarter ended March 31, 2021 and as of and for the quarter and year-to-date periods ended June 30, 2020.


	December 31, 2020
	As Previously Reported		Adjustments				As Revised
			Commissions		Other
	(in thousands)
Assets
Current assets:
Cash and cash equivalents	$	194,868	$	—	$	—	$	194,868
Trade accounts receivable, net of allowances	69,056		—		—		69,056
Income taxes receivable	632		—		—		632
Deferred contract costs	9,959		(1,675)		—		8,284
Prepaid expenses	13,283		—		—		13,283
Other current assets	1,113		—		—		1,113
Total current assets	288,911		(1,675)		—		287,236
Equipment and leasehold improvements, net	12,755		—		2,375		15,130
Goodwill	541,480		—		—		541,480
Other intangible assets, net	202,878		—		—		202,878
Deferred contract costs, non-current	26,770		(4,568)		—		22,202
Other assets	5,359		—		—		5,359
Total assets	$	1,078,153	$	(6,243)	$	2,375	$	1,074,285
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable	$	6,967	$	—	$	—	$	6,967
Accrued liabilities	31,574		—		342		31,916
Income taxes payable	713		—		—		713
Deferred revenues	160,443		—		(441)		160,002
Total current liabilities	199,697		—		(99)		199,598
Deferred revenues, non-current	45,507		—		—		45,507
Deferred tax liability, net	6,422		(1,535)		200		5,087
Other liabilities	11,046		—		2,033		13,079
Total liabilities	262,672		(1,535)		2,134		263,271
Commitments and contingencies
Stockholders’ equity:
Preferred stock	—		—		—		—
Common stock	117		—		—		117
Additional paid‑in capital	903,116		—		—		903,116
Accumulated deficit	(87,752)		(4,708)		241		(92,219)
Total stockholders’ equity	815,481		(4,708)		241		811,014
Total liabilities and stockholders’ equity	$	1,078,153	$	(6,243)	$	2,375	$	1,074,285


	Year Ended December 31, 2020
	As Previously Reported		Adjustments				As Revised
			Commissions		Other
	(in thousands, except share and per share amounts)
Revenue:
Subscription	$	249,192	$	—	$	(313)	$	248,879
Services	14,525		—		(6)		14,519
License	5,734		—		—		5,734
Total revenue	269,451		—		(319)		269,132
Cost of revenue:
Cost of subscription (exclusive of amortization expense shown below)	39,323		—		206		39,529
Cost of services (exclusive of amortization expense shown below)	10,712		—		14		10,726
Amortization expense	10,753		—		—		10,753
Total cost of revenue	60,788		—		220		61,008
Gross profit	208,663		—		(539)		208,124
Operating expenses:
Sales and marketing	96,251		2,497		137		98,885
Research and development	52,431		—		82		52,513
General and administrative	51,904		—		(301)		51,603
Amortization expense	22,575		—		—		22,575
Total operating expenses	223,161		2,497		(82)		225,576
Loss from operations	(14,498)		(2,497)		(457)		(17,452)
Interest expense, net	(10,741)		—		—		(10,741)
Loss on extinguishment of debt	(5,213)		—		—		(5,213)
Foreign currency transaction loss	(722)		—		—		(722)
Other income, net	91		—		—		91
Loss before income tax benefit	(31,083)		(2,497)		(457)		(34,037)
Income tax benefit	8,312		619		1,024		9,955
Net loss	$	(22,771)	$	(1,878)	$	567	$	(24,082)
Net loss per share, basic and diluted	$	(0.21)					$	(0.22)
Weighted-average shares used to compute net loss per share, basic and diluted	108,908,597						108,908,597


	Stock Class			Additional Paid‑In Capital		Accumulated Deficit		Stockholders’ Equity
	Common
	Shares	Amount
	(in thousands, except share amounts)
As Previously Reported
Balance, December 31, 2019	102,843,612	$	103	$	568,756	$	(64,981)	$	503,878
Issuance of common stock upon initial public offering, net of underwriting discounts and commissions, offering costs and tax	13,500,000	14		322,399		—		322,413
Private placement	85,880	—		2,233		—		2,233
Exercise of stock options	526,460	—		2,985		—		2,985
Vesting of restricted stock units	36,520	—		—		—		—
Share‑based compensation	—	—		6,743		—		6,743
Net loss	—	—		—		(22,771)		(22,771)
Balance, December 31, 2020	116,992,472	$	117	$	903,116	$	(87,752)	$	815,481

Commissions Adjustment
Balance, December 31, 2019	—	$	—	$	—	$	(2,830)	$	(2,830)
Issuance of common stock upon initial public offering, net of underwriting discounts and commissions, offering costs and tax	—	—		—		—		—
Private placement	—	—		—		—		—
Exercise of stock options	—	—		—		—		—
Vesting of restricted stock units	—	—		—		—		—
Share‑based compensation	—	—		—		—		—
Net loss	—	—		—		(1,878)		(1,878)
Balance, December 31, 2020	—	$	—	$	—	$	(4,708)	$	(4,708)

Other Adjustments
Balance, December 31, 2019	—	$	—	$	—	$	(326)	$	(326)
Issuance of common stock upon initial public offering, net of underwriting discounts and commissions, offering costs and tax	—	—		—		—		—
Private placement	—	—		—		—		—
Exercise of stock options	—	—		—		—		—
Vesting of restricted stock units	—	—		—		—		—
Share‑based compensation	—	—		—		—		—
Net loss	—	—		—		567		567
Balance, December 31, 2020	—	$	—	$	—	$	241	$	241

As Revised
Balance, December 31, 2019	102,843,612	$	103	$	568,756	$	(68,137)	$	500,722
Issuance of common stock upon initial public offering, net of underwriting discounts and commissions, offering costs and tax	13,500,000	14		322,399		—		322,413
Private placement	85,880	—		2,233		—		2,233
Exercise of stock options	526,460	—		2,985		—		2,985
Vesting of restricted stock units	36,520	—		—		—		—
Share‑based compensation	—	—		6,743		—		6,743
Net loss	—	—		—		(24,082)		(24,082)
Balance, December 31, 2020	116,992,472	$	117	$	903,116	$	(92,219)	$	811,014


	Year Ended December 31, 2020
	As Previously Reported		Adjustments				As Revised
			Commissions		Other
	(in thousands)
Cash flows from operating activities
Net loss	$	(22,771)	$	(1,878)	$	567	$	(24,082)
Adjustments to reconcile net loss to cash provided by operating activities:
Depreciation and amortization expense	38,168		—		343		38,511
Amortization of deferred contract costs	9,647		(1,694)		—		7,953
Amortization of debt issuance costs	773		—		—		773
Provision for bad debt expense and returns	1,024		—		—		1,024
Gain on disposal of equipment and leasehold improvements	(29)		—		29		—
Loss on extinguishment of debt	5,213		—		—		5,213
Share‑based compensation	6,743		—		—		6,743
Deferred tax benefit	(8,675)		(619)		(1,024)		(10,318)
Adjustment to contingent consideration	(1,000)		—		—		(1,000)
Other	(263)		—		(227)		(490)
Changes in operating assets and liabilities:
Trade accounts receivable	(23,170)		—		58		(23,112)
Income tax receivable/payable	(766)		—		—		(766)
Prepaid expenses and other assets	(4,119)		—		499		(3,620)
Deferred contract costs	(24,589)		4,191		—		(20,398)
Deferred taxes	145		—		(145)		—
Accounts payable	3,888		—		138		4,026
Accrued liabilities	5,501		—		—		5,501
Deferred revenue	65,125		—		(180)		64,945
Other liabilities	1,898		—		—		1,898
Net cash provided by operating activities	52,743		—		58		52,801
Cash flows from investing activities
Acquisition, net of cash acquired	(2,512)		—		—		(2,512)
Purchases of equipment and leasehold improvements	(4,368)		—		—		(4,368)
Proceeds from sale of equipment and leasehold improvements	4		—		—		4
Net cash used in investing activities	(6,876)		—		—		(6,876)
Cash flows from financing activities
Debt issuance costs	(1,264)		—		—		(1,264)
Payment of debt	(205,000)		—		—		(205,000)
Payment of debt extinguishment costs	(2,050)		—		—		(2,050)
Proceeds from initial public offering, net of underwriting discounts and commissions	326,316		—		—		326,316
Cash paid for offering costs	(7,256)		—		—		(7,256)
Proceeds from private placement	2,233		—		—		2,233
Proceeds from the exercise of stock options	2,985		—		—		2,985
Net cash provided by financing activities	115,964		—		—		115,964
Effect of exchange rate changes on cash and cash equivalents	604		—		—		604
Net increase in cash and cash equivalents	162,435		—		58		162,493
Cash and cash equivalents, beginning of period	32,433		—		(58)		32,375
Cash and cash equivalents, end of period	$	194,868	$	—	$	—	$	194,868
Supplemental disclosures of cash flow information:
Cash paid for interest	$	12,649	$	—	$	—	$	12,649
Cash paid for income taxes, net of refunds	1,394		—		—		1,394


	December 31, 2019
	As Previously Reported		Adjustments				As Revised
			Commissions		Other
	(in thousands)
Assets
Current assets:
Cash and cash equivalents	$	32,433	$	—	$	(58)	$	32,375
Trade accounts receivable, net of allowances	46,513		—		58		46,571
Income taxes receivable	14		—		—		14
Deferred contract costs	5,553		(932)		—		4,621
Prepaid expenses	10,935		—		(2,841)		8,094
Other current assets	3,133		—		499		3,632
Total current assets	98,581		(932)		(2,342)		95,307
Equipment and leasehold improvements, net	12,477		—		2,718		15,195
Goodwill	539,818		—		—		539,818
Other intangible assets, net	235,099		—		—		235,099
Deferred contract costs, non-current	16,234		(2,814)		—		13,420
Other assets	2,599		—		2,841		5,440
Total assets	$	904,808	$	(3,746)	$	3,217	$	904,279
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable	$	3,684	$	—	$	(138)	$	3,546
Accrued liabilities	26,927		—		342		27,269
Income taxes payable	819		—		—		819
Deferred revenues	120,089		—		(261)		119,828
Total current liabilities	151,519		—		(57)		151,462
Deferred revenues, non-current	20,621		—		—		20,621
Deferred tax liability, net	18,133		(916)		1,224		18,441
Debt	201,319		—		—		201,319
Other liabilities	9,338		—		2,376		11,714
Total liabilities	400,930		(916)		3,543		403,557
Commitments and contingencies
Stockholders’ equity:
Preferred stock	—		—		—		—
Common stock	103		—		—		103
Additional paid‑in capital	568,756		—		—		568,756
Accumulated deficit	(64,981)		(2,830)		(326)		(68,137)
Total stockholders’ equity	503,878		(2,830)		(326)		500,722
Total liabilities and stockholders’ equity	$	904,808	$	(3,746)	$	3,217	$	904,279


	Year Ended December 31, 2019
	As Previously Reported		Adjustments				As Revised
			Commissions		Other
	(in thousands, except share and per share amounts)
Revenue:
Subscription	$	175,189	$	—	$	(71)	$	175,118
Services	19,008		—		6		19,014
License	9,830		—		3		9,833
Total revenue	204,027		—		(62)		203,965
Cost of revenue:
Cost of subscription (exclusive of amortization expense shown below)	31,539		—		(82)		31,457
Cost of services (exclusive of amortization expense shown below)	14,224		—		15		14,239
Amortization expense	10,266		—		—		10,266
Total cost of revenue	56,029		—		(67)		55,962
Gross profit	147,998		—		5		148,003
Operating expenses:
Sales and marketing	71,006		1,991		106		73,103
Research and development	42,829		—		69		42,898
General and administrative	32,003		—		(494)		31,509
Amortization expense	22,416		—		—		22,416
Total operating expenses	168,254		1,991		(319)		169,926
Loss from operations	(20,256)		(1,991)		324		(21,923)
Interest expense, net	(21,423)		—		—		(21,423)
Foreign currency transaction loss	(1,252)		—		—		(1,252)
Other income, net	220		—		—		220
Loss before income tax benefit	(42,711)		(1,991)		324		(44,378)
Income tax benefit	10,111		488		(566)		10,033
Net loss	$	(32,600)	$	(1,503)	$	(242)	$	(34,345)
Net loss per share, basic and diluted	$	(0.32)					$	(0.33)
Weighted-average shares used to compute net loss per share, basic and diluted	102,752,092						102,752,092


	Stock Class			Additional Paid‑In Capital		Accumulated Deficit		Stockholders’ Equity
	Common
	Shares	Amount
	(in thousands, except share amounts)
As Previously Reported
Balance, December 31, 2018	102,649,701	$	103	$	565,372	$	(32,381)	$	533,094
Exercise of stock options	168,391	—		923		—		923
Vesting of restricted stock units	25,520	—		—		—		—
Share‑based compensation	—	—		2,461		—		2,461
Net loss	—	—		—		(32,600)		(32,600)
Balance, December 31, 2019	102,843,612	$	103	$	568,756	$	(64,981)	$	503,878

Commissions Adjustment
Balance, December 31, 2018	—	$	—	$	—	$	(1,327)	$	(1,327)
Exercise of stock options	—	—		—		—		—
Vesting of restricted stock units	—	—		—		—		—
Share‑based compensation	—	—		—		—		—
Net loss	—	—		—		(1,503)		(1,503)
Balance, December 31, 2019	—	$	—	$	—	$	(2,830)	$	(2,830)

Other Adjustments
Balance, December 31, 2018	—	$	—	$	—	$	(84)	$	(84)
Exercise of stock options	—	—		—		—		—
Vesting of restricted stock units	—	—		—		—		—
Share‑based compensation	—	—		—		—		—
Net loss	—	—		—		(242)		(242)
Balance, December 31, 2019	—	$	—	$	—	$	(326)	$	(326)

As Revised
Balance, December 31, 2018	102,649,701	$	103	$	565,372	$	(33,792)	$	531,683
Exercise of stock options	168,391	—		923		—		923
Vesting of restricted stock units	25,520	—		—		—		—
Share‑based compensation	—	—		2,461		—		2,461
Net loss	—	—		—		(34,345)		(34,345)
Balance, December 31, 2019	102,843,612	$	103	$	568,756	$	(68,137)	$	500,722


	Year Ended December 31, 2019
	As Previously Reported		Adjustments				As Revised
			Commissions		Other
	(in thousands)
Cash flows from operating activities
Net loss	$	(32,600)	$	(1,503)	$	(242)	$	(34,345)
Adjustments to reconcile net loss to cash provided by operating activities:
Depreciation and amortization expense	36,807		—		275		37,082
Amortization of deferred contract costs	6,250		(1,014)		—		5,236
Amortization of debt issuance costs	1,120		—		—		1,120
Provision for bad debt expense and returns	279		—		—		279
Gain on disposal of equipment and leasehold improvements	(17)		—		17		—
Share‑based compensation	2,461		—		—		2,461
Deferred tax benefit	(11,247)		(488)		566		(11,169)
Adjustment to contingent consideration	200		—		—		200
Other	—		—		(292)		(292)
Changes in operating assets and liabilities:
Trade accounts receivable	(14,741)		—		(58)		(14,799)
Income tax receivable/payable	559		—		—		559
Prepaid expenses and other assets	(4,585)		—		(521)		(5,106)
Deferred contract costs	(17,050)		3,005		—		(14,045)
Accounts payable	1,138		—		(138)		1,000
Accrued liabilities	6,390		—		(41)		6,349
Deferred revenue	36,998		—		376		37,374
Other liabilities	(58)		—		—		(58)
Net cash provided by operating activities	11,904		—		(58)		11,846
Cash flows from investing activities
Acquisition, net of cash acquired	(40,173)		—		—		(40,173)
Purchases of equipment and leasehold improvements	(7,190)		—		—		(7,190)
Net cash used in investing activities	(47,363)		—		—		(47,363)
Cash flows from financing activities
Proceeds from debt	40,000		—		—		40,000
Debt issuance costs	(1,550)		—		—		(1,550)
Payment of debt	(10,000)		—		—		(10,000)
Cash paid for offering costs	(721)		—		—		(721)
Proceeds from the exercise of stock options	923		—		—		923
Net cash provided by financing activities	28,652		—		—		28,652
Net decrease in cash and cash equivalents	(6,807)		—		(58)		(6,865)
Cash and cash equivalents, beginning of period	39,240		—		—		39,240
Cash and cash equivalents, end of period	$	32,433	$	—	$	(58)	$	32,375
Supplemental disclosures of cash flow information:
Cash paid for interest	$	20,693	$	—	$	—	$	20,693
Cash paid for income taxes, net of refunds	596		—		—		596
Non-cash investing activities:
Leasehold improvements acquired through lease incentives	$	—	$	—	$	2,672	$	2,672


	December 31, 2018
	As Previously Reported		Adjustments				As Revised
			Commissions		Other
	(in thousands)
Assets
Current assets:
Cash and cash equivalents	$	39,240	$	—	$	—	$	39,240
Trade accounts receivable, net of allowances	30,854		—		—		30,854
Income taxes receivable	65		—		—		65
Deferred contract costs	2,526		(398)		—		2,128
Prepaid expenses	6,682		—		(207)		6,475
Other current assets	922		—		185		1,107
Total current assets	80,289		(398)		(22)		79,869
Equipment and leasehold improvements, net	9,228		—		321		9,549
Goodwill	501,145		—		—		501,145
Other intangible assets, net	252,171		—		—		252,171
Deferred contract costs, non-current	8,461		(1,357)		—		7,104
Other assets	2,090		—		—		2,090
Total assets	$	853,384	$	(1,755)	$	299	$	851,928
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable	$	2,343	$	—	$	—	$	2,343
Accrued liabilities	18,809		—		94		18,903
Income taxes payable	147		—		—		147
Deferred revenues	86,220		—		(637)		85,583
Total current liabilities	107,519		—		(543)		106,976
Deferred revenues, non-current	14,442		—		—		14,442
Deferred tax liability, net	26,384		(428)		658		26,614
Debt	171,749		—		—		171,749
Other liabilities	196		—		268		464
Total liabilities	320,290		(428)		383		320,245
Commitments and contingencies
Stockholders’ equity:
Preferred stock	—		—		—		—
Common stock	103		—		—		103
Additional paid‑in capital	565,372		—		—		565,372
Accumulated deficit	(32,381)		(1,327)		(84)		(33,792)
Total stockholders’ equity	533,094		(1,327)		(84)		531,683
Total liabilities and stockholders’ equity	$	853,384	$	(1,755)	$	299	$	851,928


	Year Ended December 31, 2018
	As Previously Reported		Adjustments				As Revised
			Commissions		Other
	(in thousands, except share and per share amounts)
Revenue:
Subscription	$	113,040	$	—	$	827	$	113,867
Services	20,206		—		(5)		20,201
License	13,316		—		—		13,316
Total revenue	146,562		—		822		147,384
Cost of revenue:
Cost of subscription (exclusive of amortization expense shown below)	24,088		—		11		24,099
Cost of services (exclusive of amortization expense shown below)	16,246		—		4		16,250
Amortization expense	8,969		—		—		8,969
Total cost of revenue	49,303		—		15		49,318
Gross profit	97,259		—		807		98,066
Operating expenses:
Sales and marketing	51,976		1,755		18		53,749
Research and development	31,515		—		12		31,527
General and administrative	22,270		—		174		22,444
Amortization expense	21,491		—		—		21,491
Total operating expenses	127,252		1,755		204		129,211
Loss from operations	(29,993)		(1,755)		603		(31,145)
Interest expense, net	(18,203)		—		—		(18,203)
Foreign currency transaction loss	(418)		—		—		(418)
Other income, net	221		—		—		221
Loss before income tax benefit	(48,393)		(1,755)		603		(49,545)
Income tax benefit	12,137		428		(599)		11,966
Net loss	$	(36,256)	$	(1,327)	$	4	$	(37,579)
Net loss per share, basic and diluted	$	(0.35)					$	(0.37)
Weighted-average shares used to compute net loss per share, basic and diluted	102,325,465						102,325,465


	Stock Class			Additional Paid‑In Capital		Retained Earnings (Accumulated Deficit)		Stockholders’ Equity
	Common
	Shares	Amount
	(in thousands, except share amounts)
As Previously Reported
Balance, December 31, 2017	102,300,010	$	102	$	561,288	$	3,875	$	565,265
Exercise of stock options	322,851	1		1,769		—		1,770
Vesting of restricted stock units	26,840	—		—		—		—
Share‑based compensation	—	—		2,315		—		2,315
Net loss	—	—		—		(36,256)		(36,256)
Balance, December 31, 2018	102,649,701	$	103	$	565,372	$	(32,381)	$	533,094

Commissions Adjustment
Balance, December 31, 2017	—	$	—	$	—	$	—	$	—
Exercise of stock options	—	—		—		—		—
Vesting of restricted stock units	—	—		—		—		—
Share‑based compensation	—	—		—		—		—
Net loss	—	—		—		(1,327)		(1,327)
Balance, December 31, 2018	—	$	—	$	—	$	(1,327)	$	(1,327)

Other Adjustments
Balance, December 31, 2017	—	$	—	$	—	$	(88)	$	(88)
Exercise of stock options	—	—		—		—		—
Vesting of restricted stock units	—	—		—		—		—
Share‑based compensation	—	—		—		—		—
Net loss	—	—		—		4		4
Balance, December 31, 2018	—	$	—	$	—	$	(84)	$	(84)

As Revised
Balance, December 31, 2017	102,300,010	$	102	$	561,288	$	3,787	$	565,177
Exercise of stock options	322,851	1		1,769		—		1,770
Vesting of restricted stock units	26,840	—		—		—		—
Share‑based compensation	—	—		2,315		—		2,315
Net loss	—	—		—		(37,579)		(37,579)
Balance, December 31, 2018	102,649,701	$	103	$	565,372	$	(33,792)	$	531,683


	Year Ended December 31, 2018
	As Previously Reported		Adjustments				As Revised
			Commissions		Other
	(in thousands)
Cash flows from operating activities
Net loss	$	(36,256)	$	(1,327)	$	4	$	(37,579)
Adjustments to reconcile net loss to cash provided by operating activities:
Depreciation and amortization expense	33,914		—		48		33,962
Amortization of deferred contract costs	3,391		(527)		—		2,864
Amortization of debt issuance costs	513		—		—		513
Provision for bad debt expense and returns	37		—		—		37
Loss on disposal of equipment and leasehold improvements	14		—		(14)		—
Share‑based compensation	2,315		—		—		2,315
Deferred tax benefit	(12,550)		(428)		599		(12,379)
Other	—		—		(34)		(34)
Changes in operating assets and liabilities:
Trade accounts receivable	(3,353)		—		—		(3,353)
Income tax receivable/payable	(977)		—		—		(977)
Prepaid expenses and other assets	(2,555)		—		(2)		(2,557)
Deferred contract costs	(13,222)		2,282		—		(10,940)
Accounts payable	(313)		—		—		(313)
Accrued liabilities	5,965		—		36		6,001
Deferred revenue	32,476		—		(637)		31,839
Other liabilities	(39)		—		—		(39)
Net cash provided by operating activities	9,360		—		—		9,360
Cash flows from investing activities
Acquisition, net of cash acquired	(2,893)		—		—		(2,893)
Purchases of equipment and leasehold improvements	(2,909)		—		—		(2,909)
Net cash used in investing activities	(5,802)		—		—		(5,802)
Cash flows from financing activities
Proceeds from the exercise of stock options	1,770		—		—		1,770
Net cash provided by financing activities	1,770		—		—		1,770
Net increase in cash and cash equivalents	5,328		—		—		5,328
Cash and cash equivalents, beginning of period	33,912		—		—		33,912
Cash and cash equivalents, end of period	$	39,240	$	—	$	—	$	39,240
Supplemental disclosures of cash flow information:
Cash paid for interest	$	17,835	$	—	$	—	$	17,835
Cash paid for income taxes, net of refunds	1,461		—		—		1,461
Non-cash investing activities:
Leasehold improvements acquired through lease incentives	$	—	$	—	$	369	$	369


	March 31, 2021
	As Previously Reported		Adjustments				As Revised
			Commissions		Other
	(in thousands)
Assets
Current assets:
Cash and cash equivalents	$	196,190	$	—	$	—	$	196,190
Trade accounts receivable, net of allowances	75,882		—		—		75,882
Income taxes receivable	632		—		—		632
Deferred contract costs	11,155		(1,942)		—		9,213
Prepaid expenses	15,009		—		—		15,009
Other current assets	2,325		—		—		2,325
Total current assets	301,193		(1,942)		—		299,251
Equipment and leasehold improvements, net	16,965		—		(186)		16,779
Goodwill	541,850		—		—		541,850
Other intangible assets, net	197,504		—		—		197,504
Deferred contract costs, non-current	28,774		(5,136)		—		23,638
Other assets	28,898		—		—		28,898
Total assets	$	1,115,184	$	(7,078)	$	(186)	$	1,107,920
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable	$	5,744	$	—	$	—	$	5,744
Accrued liabilities	28,131		—		—		28,131
Income taxes payable	1,153		—		(87)		1,066
Deferred revenues	167,868		—		—		167,868
Total current liabilities	202,896		—		(87)		202,809
Deferred revenues, non-current	53,711		—		—		53,711
Deferred tax liability, net	5,475		(1,465)		275		4,285
Other liabilities	33,839		—		—		33,839
Total liabilities	295,921		(1,465)		188		294,644
Commitments and contingencies
Stockholders’ equity:
Preferred stock	—		—		—		—
Common stock	118		—		—		118
Additional paid‑in capital	909,966		—		—		909,966
Accumulated deficit	(90,821)		(5,613)		(374)		(96,808)
Total stockholders’ equity	819,263		(5,613)		(374)		813,276
Total liabilities and stockholders’ equity	$	1,115,184	$	(7,078)	$	(186)	$	1,107,920


	Three Months Ended March 31, 2021
	As Previously Reported		Adjustments				As Revised
			Commissions		Other
	(in thousands, except share and per share amounts)
Revenue:
Subscription	$	74,923	$	—	$	(441)	$	74,482
Services	4,003		—		—		4,003
License	2,242		—		—		2,242
Total revenue	81,168		—		(441)		80,727
Cost of revenue:
Cost of subscription (exclusive of amortization expense shown below)	12,014		—		—		12,014
Cost of services (exclusive of amortization expense shown below)	2,465		—		—		2,465
Amortization expense	2,777		—		—		2,777
Total cost of revenue	17,256		—		—		17,256
Gross profit	63,912		—		(441)		63,471
Operating expenses:
Sales and marketing	29,332		835		—		30,167
Research and development	15,626		—		—		15,626
General and administrative	16,105		—		139		16,244
Amortization expense	5,627		—		—		5,627
Total operating expenses	66,690		835		139		67,664
Loss from operations	(2,778)		(835)		(580)		(4,193)
Interest expense, net	(55)		—		—		(55)
Foreign currency transaction loss	(171)		—		(47)		(218)
Other income, net	—		—		—		—
Loss before income tax provision	(3,004)		(835)		(627)		(4,466)
Income tax provision	(65)		(70)		12		(123)
Net loss	$	(3,069)	$	(905)	$	(615)	$	(4,589)
Net loss per share, basic and diluted	$	(0.03)					$	(0.04)
Weighted-average shares used to compute net loss per share, basic and diluted	117,386,322						117,386,322


	Stock Class			Additional Paid‑In Capital		Accumulated Deficit		Stockholders’ Equity
	Common
	Shares	Amount
	(in thousands, except share amounts)
As Previously Reported
Balance, December 31, 2020	116,992,472	$	117	$	903,116	$	(87,752)	$	815,481
Exercise of stock options	713,423	1		4,018		—		4,019
Share‑based compensation	—	—		2,832		—		2,832
Net loss	—	—		—		(3,069)		(3,069)
Balance, March 31, 2021	117,705,895	$	118	$	909,966	$	(90,821)	$	819,263

Commissions Adjustment
Balance, December 31, 2020	—	$	—	$	—	$	(4,708)	$	(4,708)
Exercise of stock options	—	—		—		—		—
Share‑based compensation	—	—		—		—		—
Net loss	—	—		—		(905)		(905)
Balance, March 31, 2021	—	$	—	$	—	$	(5,613)	$	(5,613)

Other Adjustments
Balance, December 31, 2020	—	$	—	$	—	$	241	$	241
Exercise of stock options	—	—		—		—		—
Share‑based compensation	—	—		—		—		—
Net loss	—	—		—		(615)		(615)
Balance, March 31, 2021	—	$	—	$	—	$	(374)	$	(374)

As Revised
Balance, December 31, 2020	116,992,472	$	117	$	903,116	$	(92,219)	$	811,014
Exercise of stock options	713,423	1		4,018		—		4,019
Share‑based compensation	—	—		2,832		—		2,832
Net loss	—	—		—		(4,589)		(4,589)
Balance, March 31, 2021	117,705,895	$	118	$	909,966	$	(96,808)	$	813,276


	Three Months Ended March 31, 2021
	As Previously Reported		Adjustments				As Revised
			Commissions		Other
	(in thousands)
Cash flows from operating activities
Net loss	$	(3,069)	$	(905)	$	(615)	$	(4,589)
Adjustments to reconcile net loss to cash provided by operating activities:
Depreciation and amortization expense	9,784		—		—		9,784
Amortization of deferred contract costs	3,296		(596)		—		2,700
Amortization of debt issuance costs	69		—		—		69
Non-cash lease expense	1,267		—		—		1,267
Provision for bad debt expense and returns	159		—		—		159
Share‑based compensation	2,832		—		—		2,832
Deferred tax benefit	(758)		70		75		(613)
Adjustment to contingent consideration	300		—		—		300
Other	62		—		139		201
Changes in operating assets and liabilities:
Trade accounts receivable	(7,066)		—		—		(7,066)
Income tax receivable/payable	463		—		(87)		376
Prepaid expenses and other assets	(3,317)		—		—		(3,317)
Deferred contract costs	(6,496)		1,431		—		(5,065)
Accounts payable	(1,191)		—		—		(1,191)
Accrued liabilities	(7,694)		—		11		(7,683)
Deferred revenue	15,472		—		441		15,913
Other liabilities	(90)		—		36		(54)
Net cash provided by operating activities	4,023		—		—		4,023
Cash flows from investing activities
Acquisition, net of cash acquired	(3,041)		—		—		(3,041)
Purchases of equipment and leasehold improvements	(3,290)		—		—		(3,290)
Proceeds from sale of equipment and leasehold improvements	12		—		—		12
Net cash used in investing activities	(6,319)		—		—		(6,319)
Cash flows from financing activities
Proceeds from the exercise of stock options	4,019		—		—		4,019
Net cash provided by financing activities	4,019		—		—		4,019
Effect of exchange rate changes on cash and cash equivalents	(401)						(401)
Net increase in cash and cash equivalents	1,322		—		—		1,322
Cash and cash equivalents, beginning of period	194,868		—		—		194,868
Cash and cash equivalents, end of period	$	196,190	$	—	$	—	$	196,190
Supplemental disclosures of cash flow information:
Cash paid for interest	$	3	$	—	$	—	$	3
Cash paid for income taxes, net of refunds	351		—		—		351
Operating lease assets obtained in exchange for operating lease liabilities	(19)		—		—		(19)


	June 30, 2020
	As Previously Reported		Adjustments				As Revised
			Commissions		Other
	(in thousands)
Assets
Current assets:
Cash and cash equivalents	$	38,424	$	—	$	—	$	38,424
Trade accounts receivable, net of allowances	53,275		—		—		53,275
Income taxes receivable	554		—		—		554
Deferred contract costs	7,270		(1,277)		—		5,993
Prepaid expenses	10,880		—		—		10,880
Other current assets	6,314		—		—		6,314
Total current assets	116,717		(1,277)		—		115,440
Equipment and leasehold improvements, net	11,494		—		2,550		14,044
Goodwill	539,818		—		—		539,818
Other intangible assets, net	218,430		—		—		218,430
Deferred contract costs, non-current	20,334		(3,703)		—		16,631
Other assets	2,557		—		—		2,557
Total assets	$	909,350	$	(4,980)	$	2,550	$	906,920
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable	$	3,909	$	—	$	(194)	$	3,715
Accrued liabilities	26,099		—		342		26,441
Income taxes payable	1,081		—		—		1,081
Deferred revenues	130,309		—		(456)		129,853
Total current liabilities	161,398		—		(308)		161,090
Deferred revenues, non-current	27,429		—		—		27,429
Deferred tax liability, net	14,913		(1,227)		1,670		15,356
Debt	201,891		—		—		201,891
Other liabilities	6,876		—		2,208		9,084
Total liabilities	412,507		(1,227)		3,570		414,850
Commitments and contingencies
Stockholders’ equity:
Preferred stock	—		—		—		—
Common stock	103		—		—		103
Additional paid‑in capital	570,434		—		—		570,434
Accumulated deficit	(73,694)		(3,753)		(1,020)		(78,467)
Total stockholders’ equity	496,843		(3,753)		(1,020)		492,070
Total liabilities and stockholders’ equity	$	909,350	$	(4,980)	$	2,550	$	906,920


	Three Months Ended June 30, 2020
	As Previously Reported (1)		Adjustments				As Revised
			Commissions		Other
	(in thousands, except share and per share amounts)
Revenue:
Subscription	$	58,748	$	—	$	(148)	$	58,600
Services	2,451		—		181		2,632
License	1,032		—		—		1,032
Total revenue	62,231		—		33		62,264
Cost of revenue:
Cost of subscription (exclusive of amortization expense shown below)	8,762		—		(22)		8,740
Cost of services (exclusive of amortization expense shown below)	2,207		—		3		2,210
Amortization expense	2,678		—		—		2,678
Total cost of revenue	13,647		—		(19)		13,628
Gross profit	48,584		—		52		48,636
Operating expenses:
Sales and marketing	20,202		544		35		20,781
Research and development	11,929		—		20		11,949
General and administrative	6,603		—		(75)		6,528
Amortization expense	5,634		—		—		5,634
Total operating expenses	44,368		544		(20)		44,892
Income from operations	4,216		(544)		72		3,744
Interest expense, net	(4,690)		—		—		(4,690)
Foreign currency transaction loss	(13)		—		—		(13)
Other income, net	36		—		—		36
Loss before income tax benefit	(451)		(544)		72		(923)
Income tax benefit	28		142		(81)		89
Net loss	$	(423)	$	(402)	$	(9)	$	(834)
Net loss per share, basic and diluted	$	(0.00)					$	(0.01)
Weighted-average shares used to compute net loss per share, basic and diluted	102,862,404						102,862,404

(1) Previously reported amounts reflect the reclassification of on-premise subscription revenue from license revenue to subscription revenue, which we applied on a retrospective basis in the fourth quarter of 2020. See further information in Basis of Presentation above.


	Six Months Ended June 30, 2020
	As Previously Reported (1)		Adjustments				As Revised
			Commissions		Other
	(in thousands, except share and per share amounts)
Revenue:
Subscription	$	113,366	$	—	$	(562)	$	112,804
Services	6,461		—		258		6,719
License	2,794		—		—		2,794
Total revenue	122,621		—		(304)		122,317
Cost of revenue:
Cost of subscription (exclusive of amortization expense shown below)	18,010		—		(22)		17,988
Cost of services (exclusive of amortization expense shown below)	5,293		—		7		5,300
Amortization expense	5,355		—		—		5,355
Total cost of revenue	28,658		—		(15)		28,643
Gross profit	93,963		—		(289)		93,674
Operating expenses:
Sales and marketing	42,484		1,234		67		43,785
Research and development	24,546		—		41		24,587
General and administrative	17,892		—		(149)		17,743
Amortization expense	11,308		—		—		11,308
Total operating expenses	96,230		1,234		(41)		97,423
Loss from operations	(2,267)		(1,234)		(248)		(3,749)
Interest expense, net	(9,468)		—		—		(9,468)
Foreign currency transaction loss	(317)		—		—		(317)
Other income, net	91		—		—		91
Loss before income tax benefit	(11,961)		(1,234)		(248)		(13,443)
Income tax benefit	3,248		311		(446)		3,113
Net loss	$	(8,713)	$	(923)	$	(694)	$	(10,330)
Net loss per share, basic and diluted	$	(0.08)					$	(0.10)
Weighted-average shares used to compute net loss per share, basic and diluted	102,861,475						102,861,475


	Stock Class			Additional Paid‑In Capital		Accumulated Deficit		Stockholders’ Equity
	Common
	Shares	Amount
	(in thousands, except share amounts)
As Previously Reported
Balance, March 31, 2020	102,862,404	$	103	$	569,670	$	(73,271)	$	496,502
Exercise of stock options	—	—		—		—		—
Share‑based compensation	—	—		764		—		764
Net loss	—	—		—		(423)		(423)
Balance, June 30, 2020	102,862,404	$	103	$	570,434	$	(73,694)	$	496,843

Commissions Adjustment
Balance, March 31, 2020	—	$	—	$	—	$	(3,351)	$	(3,351)
Exercise of stock options	—	—		—		—		—
Share‑based compensation	—	—		—		—		—
Net loss	—	—		—		(402)		(402)
Balance, June 30, 2020	—	$	—	$	—	$	(3,753)	$	(3,753)

Other Adjustments
Balance, March 31, 2020	—	$	—	$	—	$	(1,011)	$	(1,011)
Exercise of stock options	—	—		—		—		—
Share‑based compensation	—	—		—		—		—
Net loss	—	—		—		(9)		(9)
Balance, June 30, 2020	—	$	—	$	—	$	(1,020)	$	(1,020)

As Revised
Balance, March 31, 2020	102,862,404	$	103	$	569,670	$	(77,633)	$	492,140
Exercise of stock options	—	—		—		—		—
Share‑based compensation	—	—		764		—		764
Net loss	—	—		—		(834)		(834)
Balance, June 30, 2020	102,862,404	$	103	$	570,434	$	(78,467)	$	492,070


	Stock Class			Additional Paid‑In Capital		Accumulated Deficit		Stockholders’ Equity
	Common
	Shares	Amount
	(in thousands, except share amounts)
As Previously Reported
Balance, December 31, 2019	102,843,612	$	103	$	568,756	$	(64,981)	$	503,878
Exercise of stock options	18,792	—		103		—		103
Share‑based compensation	—	—		1,575		—		1,575
Net loss	—	—		—		(8,713)		(8,713)
Balance, June 30, 2020	102,862,404	$	103	$	570,434	$	(73,694)	$	496,843

Commissions Adjustment
Balance, December 31, 2019	—	$	—	$	—	$	(2,830)	$	(2,830)
Exercise of stock options	—	—		—		—		—
Share‑based compensation	—	—		—		—		—
Net loss	—	—		—		(923)		(923)
Balance, June 30, 2020	—	$	—	$	—	$	(3,753)	$	(3,753)

Other Adjustments
Balance, December 31, 2019	—	$	—	$	—	$	(326)	$	(326)
Exercise of stock options	—	—		—		—		—
Share‑based compensation	—	—		—		—		—
Net loss	—	—		—		(694)		(694)
Balance, June 30, 2020	—	$	—	$	—	$	(1,020)	$	(1,020)

As Revised
Balance, December 31, 2019	102,843,612	$	103	$	568,756	$	(68,137)	$	500,722
Exercise of stock options	18,792	—		103		—		103
Share‑based compensation	—	—		1,575		—		1,575
Net loss	—	—		—		(10,330)		(10,330)
Balance, June 30, 2020	102,862,404	$	103	$	570,434	$	(78,467)	$	492,070


	Six Months Ended June 30, 2020
	As Previously Reported		Adjustments				As Revised
			Commissions		Other
	(in thousands)
Cash flows from operating activities
Net loss	$	(8,713)	$	(923)	$	(694)	$	(10,330)
Adjustments to reconcile net loss to cash provided by operating activities:
Depreciation and amortization expense	19,002		—		168		19,170
Amortization of deferred contract costs	4,218		(766)		—		3,452
Amortization of debt issuance costs	571		—		—		571
Provision for bad debt expense and returns	812		—		—		812
Loss on disposal of equipment and leasehold improvements	12		—		(12)		—
Share‑based compensation	1,575		—		—		1,575
Deferred tax benefit	(3,217)		(311)		446		(3,082)
Adjustment to contingent consideration	(3,700)		—		—		(3,700)
Other	—		—		(156)		(156)
Changes in operating assets and liabilities:
Trade accounts receivable	(7,374)		—		58		(7,316)
Income tax receivable/payable	(278)		—		—		(278)
Prepaid expenses and other assets	429		—		499		928
Deferred contract costs	(10,035)		2,000		—		(8,035)
Accounts payable	258		—		(56)		202
Accrued liabilities	(2,371)		—		—		(2,371)
Deferred revenue	17,028		—		(195)		16,833
Other liabilities	1,240		—		—		1,240
Net cash provided by operating activities	9,457		—		58		9,515
Cash flows from investing activities
Purchases of equipment and leasehold improvements	(1,366)		—		—		(1,366)
Net cash used in investing activities	(1,366)		—		—		(1,366)
Cash flows from financing activities
Cash paid for offering costs	(2,203)		—		—		(2,203)
Proceeds from the exercise of stock options	103		—		—		103
Net cash used in financing activities	(2,100)		—		—		(2,100)
Effect of exchange rate changes on cash and cash equivalents	—		—		—		—
Net increase in cash and cash equivalents	5,991		—		58		6,049
Cash and cash equivalents, beginning of period	32,433		—		(58)		32,375
Cash and cash equivalents, end of period	$	38,424	$	—	$	—	$	38,424
Supplemental disclosures of cash flow information:
Cash paid for interest	$	9,262	$	—	$	—	$	9,262
Cash paid for income taxes, net of refunds	411		—		—		411
Offering costs, accrued but not yet paid	2,865		—		—		2,865

Use of estimates

The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities as of the reporting date, and the reported amounts of revenues and expenses during the reporting period. These estimates are based on management’s best knowledge of current events and actions that the Company may undertake in the future and include, but are not limited to, revenue recognition, stock-based compensation, commissions, goodwill and accounting for income taxes. Actual results could differ from those estimates.

Segment and geographic information

Our chief operating decision maker (“CODM”) is our Chief Executive Officer, who reviews financial information presented on a consolidated basis for purposes of making operating decisions, assessing financial performance and allocating resources. We operate our business as one operating segment and therefore we have one reportable segment.

Revenue by geographic region as determined based on the end user customer address was as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020 (1)		2021 (2)		2020 (1)
			(As Revised)				(As Revised)
	(in thousands)
Revenue:
The Americas	$	64,726	$	48,145	$	125,543	$	95,016
Europe, the Middle East, India, and Africa	15,655		10,631		30,178		20,561
Asia Pacific	5,857		3,488		11,244		6,740
	$	86,238	$	62,264	$	166,965	$	122,317

(1) Certain prior period amounts have been revised to correct immaterial errors. See above for more information.

(2) Includes the three months ended March 31, 2021, which has been revised to correct immaterial errors. See above for more information.

Summary of significant accounting policies

6 Months Ended

Jun. 30, 2021

Accounting Policies [Abstract]

Summary of significant accounting policies

The Company’s significant accounting policies are discussed in Note 2 to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. Except for the accounting policies for leases that were updated as a result of adopting the new accounting standard, there have been no significant changes to these policies that have had a material impact on the Company’s consolidated financial statements and related notes for the three and six months ended June 30, 2021. The following describes the impact of certain policies.

Revenue recognition

The Company applies ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”) and follows a five-step model to determine the appropriate amount of revenue to be recognized in accordance with ASC 606.

Disaggregation of Revenue

The Company separates revenue into subscription and non-subscription categories to disaggregate those revenues that are term-based and renewable from those that are one-time in nature. Revenue from subscription and non-subscription contractual arrangements are as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020 (1)		2021 (2)		2020 (1)
			(As Revised)				(As Revised)
	(in thousands)
SaaS subscription and support and maintenance	$	72,121	$	52,830	$	138,897	$	102,494
On‑premise subscription	8,597		5,770		16,303		10,310
Subscription revenue	80,718		58,600		155,200		112,804
Professional services	3,929		2,632		7,932		6,719
Perpetual licenses	1,591		1,032		3,833		2,794
Non‑subscription revenue	5,520		3,664		11,765		9,513
Total revenue	$	86,238	$	62,264	$	166,965	$	122,317

(1) Certain prior period amounts have been revised to correct immaterial errors. See Note 1 for more information.

(2) Includes the three months ended March 31, 2021, which has been revised to correct immaterial errors. See Note 1 for more information.

Contract Balances

If revenue is recognized in advance of the right to invoice, a contract asset is recorded. The balances of contract assets, which are included in other current assets in the consolidated balance sheets, were $1.6 million and $0.9 million as of June 30, 2021 and December 31, 2020, respectively.

Contract liabilities consist of customer billings in advance of revenue being recognized. The Company invoices its customers for subscription, support and maintenance and services in advance.

Changes in contract liabilities, including revenue earned during the period from the beginning contract liability balance and new deferrals of revenue during the period, were as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020 (1)		2021 (2)		2020 (1)
			(As Revised)				(As Revised)
	(in thousands)
Balance, beginning of the period	$	221,579	$	145,312	$	205,509	$	140,449
Revenue earned	(66,967)		(49,393)		(111,398)		(91,395)
Deferral of revenue	83,845		61,363		144,346		108,228
Balance, end of the period	$	238,457	$	157,282	$	238,457	$	157,282

(1) Certain prior period amounts have been revised to correct immaterial errors. See Note 1 for more information.

(2) Includes the three months ended March 31, 2021, which has been revised to correct immaterial errors. See Note 1 for more information.

There were no significant changes to our contract assets and liabilities during the three and six months ended June 30, 2021 and 2020 outside of our sales activities.

Remaining Performance Obligations

Revenue allocated to remaining performance obligations represents contracted revenue that has not yet been recognized, which includes deferred revenue and noncancellable amounts to be invoiced. As of June 30, 2021 and December 31, 2020, the Company had $270.6 million and $224.1 million, respectively, of remaining performance obligations, with 79% and 80%, respectively, expected to be recognized as revenue over the succeeding 12 months, and the remainder generally expected to be recognized over the three years thereafter. Previously reported remaining performance obligations as of December 31, 2020 have been revised. See Note 1 for more information.

Deferred Contract Costs

Sales commissions as well as associated payroll taxes and retirement plan contributions (together, contract costs) that are incremental to the acquisition of customer contracts are capitalized using a portfolio approach as deferred contract costs in the consolidated balance sheets when the period of benefit is determined to be greater than one year.

Total amortization of contract costs for the three months ended June 30, 2021 and 2020 was $3.2 million and $1.8 million, respectively. Total amortization of contract costs for the six months ended June 30, 2021 and 2020 was $5.9 million and $3.5 million, respectively. Previously reported amortization of contract costs for the three and six months ended June 30, 2020 have been revised. See Note 1 for more information.

The Company periodically reviews these deferred costs to determine whether events or changes in circumstances have occurred that could affect the period of benefit of these deferred contract costs. There were no impairment losses recorded during the three and six months ended June 30, 2021 and 2020.

Concentration of Credit Risk

For the three and six months ended June 30, 2021, the Company had one distributor that accounted for more than 10% of total net revenues. Total receivables related to this distributor were $14.9 million as of June 30, 2021. For the three and six months ended June 30, 2020, the Company had two distributors that accounted for more than 10% of total net revenues. Total receivables related to these distributors were $19.8 million as of December 31, 2020.

No single end customer accounted for more than 10% of total revenue during the three and six months ended June 30, 2021 and 2020.

Recently issued accounting pronouncements not yet adopted

From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”) or other standard setting bodies and adopted by us as of the specified effective date. Unless otherwise discussed, the impact of recently issued standards that are not yet effective will not have a material impact on our financial position or results of operations upon adoption.

Financial Instruments — Credit Losses

In June 2016, the FASB issued Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), which introduces a model based on expected losses to estimate credit losses for most financial assets and certain other instruments. In November 2019, the FASB issued ASU No. 2019-10, Financial Instruments — Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates (“ASU 2019-10”). The update allows the extension of the initial effective date for entities which have not yet adopted ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”). The standard is effective for annual reporting periods beginning after December 15, 2022, with early adoption permitted. Entities will apply the standard’s provisions by recording a cumulative-effect adjustment to retained earnings. The Company has not yet adopted ASU 2016-13 and is currently evaluating the effect the standard will have on its consolidated financial statements.

Reference Rate Reform

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 (“ASU 2020-04”), which provides entities with temporary optional financial reporting alternatives to ease the potential burden in accounting for reference rate reform and includes a provision that allows entities to account for a modified contract as a continuation of an existing contract. ASU 2020-04 is effective upon issuance and can be applied through December 31, 2022. The adoption of this standard is not expected to have a material impact on the Company’s consolidated financial statements.

Adoption of new accounting pronouncements

Leases

In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) to increase transparency and comparability among organizations related to their leasing arrangements. The update requires lessees to recognize most leases on their balance sheets, with the exception of short-term leases if a policy election is made, while recognizing lease expense on their income statements in a manner similar to current GAAP. The guidance also requires entities to disclose key quantitative and qualitative information about its leasing arrangements. The Company adopted the new lease standard on January 1, 2021 using the optional transition method to the modified retrospective approach. Under this transition provision, results for reporting periods beginning on January 1, 2021 are presented under ASC Topic 842, Leases (“ASC 842”) while prior period amounts continue to be reported and disclosed in accordance with the Company’s historical accounting treatment under ASC Topic 840, Leases (“ASC 840”).

To reduce the burden of adoption and ongoing compliance with ASC 842, a number of practical expedients and policy elections are available under the new guidance. The Company elected the “package of practical expedients” permitted under the transition guidance, which among other things, did not require reassessment of whether contracts entered into prior to adoption are or contain leases, and allowed carryforward of the historical lease classification for existing leases. The Company has not elected to adopt the “hindsight” practical expedient, and therefore measured the right-of-use (“ROU”) asset and lease liability using the remaining portion of the lease term at adoption on January 1, 2021.

The Company made an accounting policy election under ASC 842 not to recognize ROU assets and lease liabilities for leases with a term of twelve months or less. For all other leases, the Company recognizes ROU assets and lease liabilities based on the present value of lease payments over the lease term at the commencement date of the lease (or January 1, 2021 for existing leases upon the adoption of ASC 842). The ROU assets also include any initial direct costs incurred and lease payments made at or before the commencement date and are reduced by any lease incentives.

Future lease payments may include fixed rent escalation clauses or payments that depend on an index (such as the consumer price index). Subsequent changes to an index and other periodic market-rate adjustments to base rent are recorded in variable lease expense in the period incurred.

The Company has made an accounting policy election to account for lease and non-lease components in its contracts as a single lease component for all asset classes. The non-lease components typically represent additional services transferred to the Company, such as common area maintenance for real estate, which are variable in nature and recorded in variable lease expense in the period incurred.

The Company uses its incremental borrowing rate to determine the present value of lease payments as the Company’s leases do not have a readily determinable implicit discount rate. The incremental borrowing rate is the rate of interest the Company would have to pay to borrow on a collateralized basis over a similar term and amount in a similar economic environment. Judgement is applied in assessing factors such as Company specific credit risk, lease term, nature and quality of the underlying collateral, currency and economic environment in determining the incremental borrowing rate to apply to each lease.

Upon adoption, the Company recorded ROU assets and lease liabilities of approximately $25.0 million and $28.6 million, respectively, related to the Company’s operating leases. The adoption of the new lease standard did not

materially impact our consolidated statements of operations or consolidated statements of cash flows. See Note 6 for more information.

Debt with Conversion and Other Options and Contracts in Entity’s Own Equity

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 (“ASU 2020-06”), which simplifies the accounting for certain financial instruments with characteristics of liabilities and equity. Among other changes, the standard eliminates the beneficial conversion and cash conversion accounting models for convertible instruments. As a result, entities will account for a convertible debt instrument wholly as debt unless the instrument contains features that require bifurcation as a derivative in accordance with ASC Topic 815, Derivatives and Hedging, or a convertible debt instrument was issued at a substantial premium. In addition, the amendments also require the if-converted method to be applied for all convertible instruments when calculating diluted earnings per share. The standard is effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted. The Company early adopted the new standard on January 1, 2021. The adoption of the standard did not have a material impact on the Company’s consolidated financial statements.

Financial instruments fair value

6 Months Ended

Jun. 30, 2021

Fair Value Disclosures [Abstract]

Financial instruments fair value

We report financial assets and liabilities and nonfinancial assets and liabilities that are recognized or disclosed at fair value in the consolidated financial statements on a recurring basis in accordance with ASC Topic 820, Fair Value Measurement (“ASC 820”). ASC 820 defines fair value 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. When determining the fair value measurements for assets and liabilities, which are required to be recorded at fair value, we consider the principal or most advantageous market in which we would transact and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as inherent risk, transfer restrictions and credit risk.

ASC 820 also establishes a fair value hierarchy, which prioritizes the inputs to valuation techniques used to measure fair value into three levels. Fair value represents the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. GAAP established a hierarchy framework to classify the fair value based on the observability of significant inputs to the measurement. The levels of the fair value hierarchy are as follows:

Level 1: Fair value is determined using an unadjusted quoted price in an active market for identical assets or liabilities.

Level 2: Fair value is estimated using inputs other than quoted prices included within Level 1 that are observable, either directly or indirectly.

Level 3: Fair value is estimated using unobservable inputs that are significant to the fair value of the assets or liabilities.

The Company invests in money market funds and U.S. Treasuries with original or remaining maturities at the time of purchase of three months or less, which are measured and recorded at fair value on a recurring basis. Money market funds are valued based on quoted market prices in active markets and classified within Level 1 of the fair value hierarchy. U.S. Treasuries include treasury bills that generally mature within 30 days and are classified within Level 1 of the fair value hierarchy. The fair value of these financial instruments were as follows:


	June 30, 2021
	Level 1		Level 2		Level 3		Total
	(in thousands)
Cash equivalents:
Money market funds	$	50,018	$	—	$	—	$	50,018
Total cash equivalents	$	50,018	$	—	$	—	$	50,018


	December 31, 2020
	Level 1		Level 2		Level 3		Total
	(in thousands)
Cash equivalents:
Money market funds	$	100,000	$	—	$	—	$	100,000
U.S. Treasuries	25,000		—		—		25,000
Total cash equivalents	$	125,000	$	—	$	—	$	125,000

The carrying value of accounts receivable and accounts payable approximate their fair value due to their short maturities and are excluded from the tables above.

Business Combination and Asset Acquisition [Abstract]

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

Acquisitions

6 Months Ended

Jun. 30, 2021

Acquisitions

cmdReporter

On February 26, 2021, the Company entered into an asset purchase agreement with cmdSecurity Inc. (“cmdSecurity”) to acquire certain cmdSecurity assets, including cmdReporter, a suite of security and compliance tools purpose-built for macOS. With cmdReporter, the Company further extends the security capabilities of its expansive Apple Enterprise Management platform. cmdSecurity’s software complements the Company’s existing product offerings. The Company accounted for the acquisition by applying the acquisition method of accounting for business combinations in accordance with ASC Topic 805, Business Combinations (“ASC 805”). The final aggregate purchase price was approximately $3.4 million. This acquisition was funded by the Company’s cash on hand and included future contingent consideration due to the sellers. The goodwill represents the excess of the purchase consideration over the fair value of the underlying net identifiable assets. The goodwill recognized in this acquisition is primarily attributable to the cmdSecurity assembled workforce and was not material. The acquired intangible assets and goodwill are deductible for income tax purposes.

At the time of the acquisition, the contingent consideration was valued at $0.4 million, which was based on the acquired business signing new business or renewing acquired contracts during the 90 days following the close of the acquisition. The estimated fair value of these contingent payments was determined using projected contract wins, which used Level 3 inputs for fair value measurements, including assumptions about the probability of closing contracts based on their current stage in the sales process. As of June 30, 2021, the fair value of the contingent consideration was nil as $0.3 million was earned by the acquired business and the unearned portion of $0.1 million was written off during the second quarter of 2021. The Company did not make a cash payment for the earned portion of the liability as the acquired business received the cash directly from the customers. As such, the reduction of the liability was offset by a reduction in accounts receivable.

Substantially all of the purchase price consideration related to the fair value of the acquired separately identifiable intangibles assets, which related to acquired developed technology and in-process research and development (“IPR&D”). The fair value of the identifiable intangible assets was estimated using the replacement cost method, whereby the components of the acquired intangibles were reviewed to determine the cumulative cost of development for each component, inclusive of a developer’s profit and an entrepreneurial incentive. The cumulative cost of development was not discounted to account for obsolescence factor as the replacement cost accounted for present day development. The developed technology is amortized over its estimated weighted-average useful life, which was determined to be 5.0 years. The IPR&D is an indefinite lived intangible asset that is not amortized, but is evaluated at least annually for impairment. For more information on intangible assets, see Note 5.

Acquisition-related expenses were expensed as incurred and totaled nil and $0.1 million for the three and six months ended June 30, 2021, respectively. These expenses were recognized as acquisition costs in general and administrative expenses in the consolidated statement of operations.

The Company allocated the net purchase consideration to the net assets acquired based on their respective fair values at the time of the acquisition as follows (in thousands):


Cash consideration	$	3,041
Contingent consideration	359
Final aggregate purchase price	$	3,400

Intangible assets acquired:
Developed technology	$	2,630
IPR&D	400
Goodwill	370
Total purchase consideration	$	3,400

Digita Security LLC

In 2019, the Company recorded contingent consideration in connection with its purchase of the outstanding membership interests of Digita. The maximum contingent consideration is $15.0 million if the acquired business achieves certain revenue milestones by December 31, 2022. In the second quarter of 2021, the acquired business achieved the minimum revenue milestone, which resulted in the Company making a cash payment of $4.2 million to the acquired business. Additional cash payments will be made within 30 days of December 31, 2021 and December 31, 2022 if the acquired business achieves the revenue milestones.

The estimated fair value of these contingent payments is determined using a Monte Carlo simulation model, which uses Level 3 inputs for fair value measurements, including assumptions about the probability of growth of subscription services and the related pricing of the services offered. During the three and six months ended June 30, 2021, the fair value of the contingent consideration was increased by $4.0 million and $4.3 million, respectively, which was reflected in general and administrative expenses in the consolidated statement of operations. The adjustment for the three and six months ended June 30, 2021 primarily reflected updated assumptions about the probability of growth of subscription services. As of June 30, 2021, the fair value of the contingent consideration was $8.3 million, of which $3.4 million was included in accrued liabilities and $4.9 million was included in other liabilities in the consolidated balance sheet. As of December 31, 2020, the fair value of the contingent consideration was $8.2 million, which was included in other liabilities in the consolidated balance sheet.

Goodwill and other intangible assets

6 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and other intangible assets

The change in the carrying amount of goodwill is as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
	(in thousands)
Goodwill, beginning of period	$	541,850	$	539,818	$	541,480	$	539,818
Goodwill acquired	—		—		370		—
Goodwill, end of period	$	541,850	$	539,818	$	541,850	$	539,818

The gross carrying amount and accumulated amortization of intangible assets other than goodwill are as follows:


	Useful Life	Gross Value		Accumulated Amortization		Net Carrying Value		Weighted‑ Average Remaining Useful Life
	(in thousands)
Trademarks	8 years	$	34,320	$	13,454	$	20,866	4.8 years
Customer relationships	2 ‑ 12 years	214,428		55,810		158,618		8.7 years
Developed technology	5 years	54,563		31,173		23,390		2.3 years
Non‑competes	2 years	90		86		4		0.1 years
Balance, December 31, 2020		$	303,401	$	100,523	$	202,878

Trademarks	8 years	$	34,300	$	15,578	$	18,722	4.3 years
Customer relationships	2 ‑ 12 years	214,408		64,893		149,515		8.2 years
Developed technology	5 years	57,193		36,809		20,384		2.2 years
Non‑competes	2 years	90		90		—		—
IPR&D	Indefinite	400		—		400
Balance, June 30, 2021		$	306,391	$	117,370	$	189,021

Amortization expense was $8.5 million and $8.3 million for the three months ended June 30, 2021 and 2020, respectively. Amortization expense was $16.9 million and $16.7 million for the six months ended June 30, 2021 and 2020, respectively.

There were no impairments to goodwill or intangible assets recorded for the three and six months ended June 30, 2021 and 2020.

Leases

6 Months Ended

Jun. 30, 2021

Leases [Abstract]

Leases

The Company determines if an arrangement is or contains a lease at inception, which is the date on which the terms of the contract are agreed to and the agreement creates enforceable rights and obligations. Under ASC 842, a contract is or contains a lease when (i) explicitly or implicitly identified assets have been deployed in the contract and (ii) the customer obtains substantially all of the economic benefits from the use of that underlying asset and directs how and for what purpose the asset is used during the term of the contract. The Company also considers whether its service arrangements include the right to control the use of an asset. See Note 2 for more information on the Company’s accounting policies for leases.

The Company leases office facilities and vehicles under operating lease agreements that have initial terms ranging from 1 to 9 years. Some leases include one or more options to renew, generally at our sole discretion, with renewal terms that can extend the lease term up to 10 years. In addition, certain leases contain termination options, where the rights to terminate are held by either the Company, the lessor, or both parties. These options to extend or terminate a lease are included in the lease terms when it is reasonably certain that the Company will exercise that option. The Company’s leases generally do not contain any material restrictive covenants or residual value guarantees. The Company also leases office equipment under a finance lease agreement with a term of 4 years. The Company’s finance lease was not material to the consolidated financial statements as of June 30, 2021.

Supplemental balance sheet information related to the Company’s operating leases is as follows:

Leases

Balance Sheet Classification

June 30, 2021

(in thousands)

Assets

Operating lease assets

Other assets

22,737

Liabilities

Operating lease liabilities - current

Accrued liabilities

4,826

Operating lease liabilities - non-current

Other liabilities

22,063

Total operating lease liabilities

26,889

The weighted-average remaining term of the Company’s operating leases was 6.4 years as of June 30, 2021. The weighted-average discount rate used to measure the present value of the operating lease liabilities was 3.5% as of June 30, 2021.

The components of lease expense were as follows:


	Three Months Ended June 30, 2021		Six Months Ended June 30, 2021
	(in thousands)
Operating lease cost	$	1,369	$	2,883
Short-term lease cost	52		104
Variable lease cost	441		880
Total lease expense	$	1,862	$	3,867

Operating lease cost is recognized on a straight-line basis over the lease term. The Company leases certain office facilities with a related party, including the office space in Eau Claire, Wisconsin. Operating lease cost with related parties was $0.2 million and $0.5 million for the three and six months ended June 30, 2021, respectively.

Total lease expense, including the Company’s share of the lessors’ operating expenses, was $1.2 million and $2.5 million for the three and six months ended June 30, 2020, respectively. Previously reported total lease expense for the three and six months ended June 30, 2020 have been revised. See Note 1 for more information. Lease expense with related parties, including the Company’s share of the lessors’ operating expenses, was $0.3 million and $0.5 million for the three and six months ended June 30, 2020, respectively.

For the six months ended June 30, 2021, operating cash flows included $2.6 million of cash paid for operating lease liabilities.

Maturities of the Company’s operating lease liabilities as of June 30, 2021 were as follows:


	Operating Leases
	(in thousands)
Years ending December 31:
2021 (remaining six months)	$	2,887
2022	5,422
2023	5,347
2024	4,596
2025	2,519
Thereafter	9,482
Total lease payments	30,253
Less: imputed interest	3,364
Total present value of lease liabilities	$	26,889

Leases

Supplemental balance sheet information related to the Company’s operating leases is as follows:

Leases

Balance Sheet Classification

June 30, 2021

(in thousands)

Assets

Operating lease assets

Other assets

22,737

Liabilities

Operating lease liabilities - current

Accrued liabilities

4,826

Operating lease liabilities - non-current

Other liabilities

22,063

Total operating lease liabilities

26,889

The components of lease expense were as follows:


	Three Months Ended June 30, 2021		Six Months Ended June 30, 2021
	(in thousands)
Operating lease cost	$	1,369	$	2,883
Short-term lease cost	52		104
Variable lease cost	441		880
Total lease expense	$	1,862	$	3,867

For the six months ended June 30, 2021, operating cash flows included $2.6 million of cash paid for operating lease liabilities.

Maturities of the Company’s operating lease liabilities as of June 30, 2021 were as follows:


	Operating Leases
	(in thousands)
Years ending December 31:
2021 (remaining six months)	$	2,887
2022	5,422
2023	5,347
2024	4,596
2025	2,519
Thereafter	9,482
Total lease payments	30,253
Less: imputed interest	3,364
Total present value of lease liabilities	$	26,889

Debt	6 Months Ended
Debt	Jun. 30, 2021
Debt Disclosure [Abstract]
Debt	Debt On July 27, 2020, the Company entered into a new secured credit agreement (the “New Credit Agreement”) for an initial revolving credit facility of $150.0 million (the “New Revolving Credit Facility”), which may be increased or decreased under specific circumstances, with a $25.0 million letter of credit sublimit and a $50.0 million alternative currency sublimit. In addition, the New Credit Agreement provides for the ability of the Company to request incremental term loan facilities in a minimum amount of $5.0 million for each facility. The maturity date of the New Credit Agreement is July 27, 2025. The New Credit Agreement contains customary representations and warranties, affirmative covenants, reporting obligations, negative covenants and events of default. We were in compliance with such covenants as of both June 30, 2021 and December 31, 2020. As of both June 30, 2021 and December 31, 2020, we had $1.0 million of letters of credit outstanding under our New Revolving Credit Facility. In the third quarter of 2020, the Company recorded debt issuance costs of $1.3 million related to the New Credit Agreement. In the second quarter of 2021, the Company recorded debt issuance costs of $0.7 million related to the Incremental Facility Amendment No. 1 (the “Credit Agreement Amendment”), which amended the New Credit Agreement. See Note 13 for more information on the Credit Agreement Amendment. The debt issuance costs are amortized to interest expense over the term of the agreement. As of June 30, 2021 and December 31, 2020, debt issuance costs of $1.6 million and $1.1 million, respectively, were included in other assets in the consolidated balance sheets.

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

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Share-based Payment Arrangement [Abstract]

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Commitments and contingencies Contingencies The Company has been engaged in discussions with an entity regarding the entity’s patented technology and allegations regarding the Company’s infringement of that technology. While no legal proceedings have been initiated, the Company has accrued $4.2 million to general and administrative expenses in the second quarter of 2021 based on its most recent discussions with the entity. It is reasonably possible the estimated loss will change. The exposure to loss in excess of the amount accrued as of June 30, 2021 is estimated to be up to $2.3 million. From time to time, the Company may be subject to various claims, charges and litigation. The Company records a liability when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. The Company maintains insurance to cover certain actions and believes that resolution of such claims, charges, or litigation will not have a material impact on the Company’s financial position, results of operations, or liquidity. The Company had no liabilities for contingencies recorded as of December 31, 2020.

Net loss per share

6 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

Net loss per share

The following table sets forth the computation of basic and diluted net loss per share:


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020 (1)		2021 (2)		2020 (1)
			(As Revised)				(As Revised)
	(in thousands, except share and per share amounts)
Numerator:
Net loss	$	(16,467)	$	(834)	$	(21,056)	$	(10,330)
Denominator:
Weighted-average shares used to compute net loss per share, basic and diluted	117,909,720		102,862,404		117,649,467		102,861,475
Basic and diluted net loss per share	$	(0.14)	$	(0.01)	$	(0.18)	$	(0.10)

(1) Certain prior period amounts have been revised to correct immaterial errors. See Note 1 for more information.

(2) Includes the three months ended March 31, 2021, which has been revised to correct immaterial errors. See Note 1 for more information.

Basic net loss per share is computed by dividing the net loss by the weighted-average number of common shares outstanding for the period. Because we have reported a net loss for the three and six months ended June 30, 2021 and 2020, the number of shares used to calculate diluted net loss per common share is the same as the number of shares used to calculate basic net loss per common share because the potentially dilutive shares would have been antidilutive if included in the calculation.

The following potentially dilutive securities outstanding have been excluded from the computation of diluted weighted-average shares outstanding because such securities have an antidilutive impact due to losses reported:


	Three Months Ended June 30,		Six Months Ended June 30,
	2021	2020	2021	2020
Stock options outstanding	5,977,050	7,742,158	5,977,050	7,742,158
Unvested restricted stock units	3,093,800	36,520	3,093,800	36,520
Total potentially dilutive securities	9,070,850	7,778,678	9,070,850	7,778,678

Share-based compensation

6 Months Ended

Jun. 30, 2021

Share-based compensation

Note 10. Share-based compensation

On July 21, 2020, the Company adopted the Jamf Holding Corp. Omnibus Incentive Plan (the “2020 Plan”). The 2020 Plan provides for grants of (i) stock options, (ii) stock appreciation rights, (iii) restricted shares, (iv) performance awards, (v) other share-based awards and (vi) other cash-based awards to eligible employees, non-employee directors and consultants of the Company. We initially reserved 14,800,000 shares of our common stock for issuance under the 2020 Plan. The total number of shares reserved for issuance under the 2020 Plan increases on January 1st of each of the first 10 calendar years during the term of the 2020 Plan by the lesser of: (i) a number of shares of our common stock equal to 4% of the total number of shares of our common stock outstanding on December 31st of the preceding calendar year or (ii) a number of shares of our common stock as determined by our board of directors. The maximum number of shares of common stock available for issuance under the 2020 Plan was 19,479,699 shares as of January 1, 2021. As of June 30, 2021, 16,385,899 shares of common stock are reserved for additional grants under the 2020 Plan.

The 2017 Stock Option Plan (“2017 Option Plan”) became effective November 13, 2017 upon the approval of the board of directors and, prior to the adoption of the 2020 Plan, served as the umbrella plan for the Company’s stock-based and cash-based incentive compensation program for its officers and other eligible employees. The aggregate number of shares of common stock that may be issued under the 2017 Option Plan may not exceed 8,470,000 shares. As of June 30, 2021, 128,928 shares of common stock are reserved for additional grants under the 2017 Option Plan. All stock options granted by the Company were at an exercise price at or above the estimated fair market value of the Company’s common stock as of the grant date. No options were granted during the six months ended June 30, 2021.

The table below summarizes return target options activity for the six months ended June 30, 2021:


	Options	Weighted‑ Average Exercise Price		Weighted‑ Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (in thousands)
Outstanding, December 31, 2020	3,687,664	$	6.75	7.8	$	85,444
Granted	—	—			—
Exercised	—	—			—
Forfeitures	—	—			—
Outstanding, June 30, 2021	3,687,664	$	6.75	7.3	$	98,904
Options exercisable at June 30, 2021	—	$	—	—	$	—
Vested or expected to vest at June 30, 2021	—	$	—	—	$	—

There was approximately $33.0 million of unrecognized compensation expense related to these return target options as of June 30, 2021. The aggregate intrinsic value in the table above represents the total intrinsic value that would have been received by the optionholders had all optionholders exercised their options.

Restricted stock unit (“RSU”) activity for the six months ended June 30, 2021 is as follows:


	Units	Per Unit Fair Value
Outstanding, December 31, 2020	1,293,107	$	26.34
Granted	1,843,500	34.79
Restrictions lapsed	—	—
Forfeited	(42,807)	26.33
Outstanding, June 30, 2021	3,093,800	$	31.38

RSUs under the 2020 Plan vest ratably over four years. RSUs under the 2017 Option Plan vest 100% on the one-year anniversary of the date of the grant. The estimated compensation cost of each RSU, which is equal to the fair value of the award on the date of grant, is recognized on a straight-line basis over the vesting period. There was $88.0 million of total unrecognized compensation cost related to unvested restricted stock that is expected to be recognized over a weighted-average period of 3.6 years as of June 30, 2021.

The table below summarizes the service-based option activity for the six months ended June 30, 2021:


	Options	Weighted‑ Average Exercise Price		Weighted‑ Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (in thousands)
Outstanding, December 31, 2020	3,546,826	$	5.65	7.1	$	86,098
Granted	—	—			—
Exercised	(1,257,440)	5.62			36,219
Forfeitures	—	—			—
Outstanding, June 30, 2021	2,289,386	$	5.66	6.6	$	63,896
Options exercisable at June 30, 2021	1,524,788	$	5.49	6.4	$	42,813
Vested or expected to vest at June 30, 2021	2,289,386	$	5.66	6.6	$	63,896

The aggregate intrinsic value in the table above represents the total intrinsic value that would have been received by the optionholders had all optionholders exercised their options on the last date of the period. The total fair value of service-based options vested during the six months ended June 30, 2021 was $1.3 million. There was $2.0 million of unrecognized compensation expense related to service-based stock options that is expected to be recognized over a weighted-average period of 1.5 years as of June 30, 2021.

The Company recognized stock-based compensation expense as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
	(in thousands)
Cost of revenue:
Subscription	$	344	$	38	$	668	$	76
Services	75		—		152		—
Sales and marketing	1,088		111		1,930		222
Research and development	1,153		141		1,931		298
General and administrative	1,446		474		2,257		979
	$	4,106	$	764	$	6,938	$	1,575

Income taxes	6 Months Ended
Income taxes	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income taxes	Income taxes The Company’s effective tax rates for the three months ended June 30, 2021 and 2020 were 0.4% and 9.6%, respectively. The effective tax rate for the three months ended June 30, 2021 was lower than the prior year period due to the application of Section 162(m) of the Internal Revenue Code, stock option activity and the domestic valuation allowance. The effective tax rate for the three months ended June 30, 2021 differs from the statutory rate primarily as a result of the domestic valuation allowance. The effective tax rate for the three months ended June 30, 2021 was impacted by $0.1 million of discrete income tax benefit. The Company’s annual effective tax rates for the three months ended June 30, 2021 and 2020 were (0.5)% and 21.2%, respectively. The Company’s effective tax rates for the six months ended June 30, 2021 and 2020 were (0.3)% and 23.2%, respectively. The effective tax rate for the six months ended June 30, 2021 was lower than the prior year period due to the application of Section 162(m) of the Internal Revenue Code, stock option activity and the domestic valuation allowance. The effective tax rate for the six months ended June 30, 2021 differs from the statutory rate primarily as a result of the domestic valuation allowance. The effective tax rate for the six months ended June 30, 2021 was impacted by $0.1 million of discrete income tax benefit.

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.

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-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

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

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

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

Related-party transactions	6 Months Ended
Related-party transactions	Jun. 30, 2021
Related Party Transactions [Abstract]
Related-party transactions	Related-party transactions The Company made pledges to the Jamf Nation Global Foundation (“JNGF”) of $0.2 million and $0.3 million for the three and six months ended June 30, 2021, respectively. The Company did not make any pledges to the JNGF for the three and six months ended June 30, 2020. As of June 30, 2021 and December 31, 2020, the Company accrued $0.6 million and $0.9 million, respectively, related to JNGF pledges, which are included in accrued liabilities in the consolidated balance sheets. The Company has an ongoing lease agreement for office space in Eau Claire, Wisconsin with an entity in which a related party is a minority owner. See Note 6 for further discussion of this lease agreement. The Company may engage in transactions in the ordinary course of business with other companies whose directors or officers may also serve as directors or officers for the Company. The Company carries out these transactions on customary terms. Vista is a U.S.-based investment firm that controls the funds which own a majority of the Company. The Company has paid for consulting services and other expenses related to services provided by Vista and Vista affiliates. The total expenses incurred by the Company for these services were less than $0.1 million for the three and six months ended June 30, 2021. The total expenses incurred by the Company for these services were $0.1 million and $0.3 million for the three and six months ended June 30, 2020, respectively. The Company had less than $0.1 million in accounts payable related to these expenses as of both June 30, 2021 and December 31, 2020. The Company also has revenue arrangements with Vista affiliates. The Company recognized revenue related to these arrangements of $0.3 million for both the three months ended June 30, 2021 and 2020 and $0.5 million and $0.6 million for the six months ended June 30, 2021 and 2020, respectively. The Company had $0.2 million and $0.3 million in accounts receivable related to these agreements as of June 30, 2021 and December 31, 2020, respectively. In addition, the Company pays for services with Vista affiliates in the normal course of business. The total expenses incurred by the Company for services with Vista affiliates were $0.3 million and $0.1 million for the three months ended June 30, 2021 and 2020, respectively, and $0.5 million and $0.3 million for the six months ended June 30, 2021 and 2020, respectively. The Company had less than $0.1 million in accounts payable related to these expenses as of June 30, 2021 and $0.1 million in accounts payable related to these expenses as of December 31, 2020. Prior to its termination and repayment in full on July 27, 2020, the Company was party to a term loan facility (the “Prior Term Loan”) and revolving credit facility with a consortium of lenders for a principal amount of $205.0 million and principal committed amount of $15.0 million, respectively. During the three and six months ended June 30, 2020, affiliates of Vista were paid $0.8 million and $1.6 million, respectively, in interest on the portion of the Prior Term Loan held by them.

Subsequent events	6 Months Ended
Subsequent events	Jun. 30, 2021
Subsequent Events [Abstract]
Subsequent events	Subsequent events On July 1, 2021, the Company completed its previously announced acquisition of Wandera, Inc. (“Wandera”) pursuant to the terms of the Agreement and Plan of Merger, dated as of May 5, 2021 (the “Merger Agreement”). Under the terms of the Merger Agreement, the Company paid total cash consideration of $409.2 million subject to certain closing adjustments as set forth in the Merger Agreement. The total consideration consists of an initial payment of $359.2 million at close and deferred consideration of $50.0 million to be paid in $25.0 million increments on October 1, 2021 and December 15, 2021. The acquisition was funded with cash on hand and borrowings under the New Term Loan Facility described below. In connection with the closing of the Wandera acquisition, on July 1, 2021, the Company entered into the Credit Agreement Amendment, which amended the Company’s existing New Credit Agreement. The Credit Agreement Amendment provided for a new 364-day term loan facility (the “New Term Loan Facility”) in an aggregate principal amount of $250.0 million on substantially the same terms and conditions as the Company’s existing New Revolving Credit Facility. The maturity date of the New Term Loan Facility is May 4, 2022. Due to the limited amount of time since the close of the acquisition, information required by ASC 805 is not yet available and will be disclosed in subsequent periods.

Summary of significant accounting policies (Policies)	6 Months Ended
Summary of significant accounting policies (Policies)	Jun. 30, 2021
Accounting Policies [Abstract]
Basis of presentation	The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). Certain reclassifications of prior period amounts have been made to conform to the current presentation. In the fourth quarter of 2020, the Company reclassified on-premise subscription revenue from license revenue to subscription revenue in the consolidated statements of operations on a retroactive basis.
Use of estimates	The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities as of the reporting date, and the reported amounts of revenues and expenses during the reporting period. These estimates are based on management’s best knowledge of current events and actions that the Company may undertake in the future and include, but are not limited to, revenue recognition, stock-based compensation, commissions, goodwill and accounting for income taxes. Actual results could differ from those estimates.
Segment and geographic information	Our chief operating decision maker (“CODM”) is our Chief Executive Officer, who reviews financial information presented on a consolidated basis for purposes of making operating decisions, assessing financial performance and allocating resources.
Principles of consolidation	The Company’s significant accounting policies are discussed in Note 2 to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. Except for the accounting policies for leases that were updated as a result of adopting the new accounting standard, there have been no significant changes to these policies that have had a material impact on the Company’s consolidated financial statements and related notes for the three and six months ended June 30, 2021. The following describes the impact of certain policies.
Revenue recognition	The Company applies ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”) and follows a five-step model to determine the appropriate amount of revenue to be recognized in accordance with ASC 606.Disaggregation of RevenueThe Company separates revenue into subscription and non-subscription categories to disaggregate those revenues that are term-based and renewable from those that are one-time in nature.If revenue is recognized in advance of the right to invoice, a contract asset is recorded.Contract liabilities consist of customer billings in advance of revenue being recognized. The Company invoices its customers for subscription, support and maintenance and services in advance.Revenue allocated to remaining performance obligations represents contracted revenue that has not yet been recognized, which includes deferred revenue and noncancellable amounts to be invoiced.Sales commissions as well as associated payroll taxes and retirement plan contributions (together, contract costs) that are incremental to the acquisition of customer contracts are capitalized using a portfolio approach as deferred contract costs in the consolidated balance sheets when the period of benefit is determined to be greater than one year.
Recently issued accounting pronouncements not yet adopted and Adoption of new accounting pronouncements	Recently issued accounting pronouncements not yet adopted From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”) or other standard setting bodies and adopted by us as of the specified effective date. Unless otherwise discussed, the impact of recently issued standards that are not yet effective will not have a material impact on our financial position or results of operations upon adoption. Financial Instruments — Credit Losses In June 2016, the FASB issued Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), which introduces a model based on expected losses to estimate credit losses for most financial assets and certain other instruments. In November 2019, the FASB issued ASU No. 2019-10, Financial Instruments — Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates (“ASU 2019-10”). The update allows the extension of the initial effective date for entities which have not yet adopted ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”). The standard is effective for annual reporting periods beginning after December 15, 2022, with early adoption permitted. Entities will apply the standard’s provisions by recording a cumulative-effect adjustment to retained earnings. The Company has not yet adopted ASU 2016-13 and is currently evaluating the effect the standard will have on its consolidated financial statements. Reference Rate Reform 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 (“ASU 2020-04”), which provides entities with temporary optional financial reporting alternatives to ease the potential burden in accounting for reference rate reform and includes a provision that allows entities to account for a modified contract as a continuation of an existing contract. ASU 2020-04 is effective upon issuance and can be applied through December 31, 2022. The adoption of this standard is not expected to have a material impact on the Company’s consolidated financial statements. Adoption of new accounting pronouncements Leases In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) to increase transparency and comparability among organizations related to their leasing arrangements. The update requires lessees to recognize most leases on their balance sheets, with the exception of short-term leases if a policy election is made, while recognizing lease expense on their income statements in a manner similar to current GAAP. The guidance also requires entities to disclose key quantitative and qualitative information about its leasing arrangements. The Company adopted the new lease standard on January 1, 2021 using the optional transition method to the modified retrospective approach. Under this transition provision, results for reporting periods beginning on January 1, 2021 are presented under ASC Topic 842, Leases (“ASC 842”) while prior period amounts continue to be reported and disclosed in accordance with the Company’s historical accounting treatment under ASC Topic 840, Leases (“ASC 840”). To reduce the burden of adoption and ongoing compliance with ASC 842, a number of practical expedients and policy elections are available under the new guidance. The Company elected the “package of practical expedients” permitted under the transition guidance, which among other things, did not require reassessment of whether contracts entered into prior to adoption are or contain leases, and allowed carryforward of the historical lease classification for existing leases. The Company has not elected to adopt the “hindsight” practical expedient, and therefore measured the right-of-use (“ROU”) asset and lease liability using the remaining portion of the lease term at adoption on January 1, 2021. The Company made an accounting policy election under ASC 842 not to recognize ROU assets and lease liabilities for leases with a term of twelve months or less. For all other leases, the Company recognizes ROU assets and lease liabilities based on the present value of lease payments over the lease term at the commencement date of the lease (or January 1, 2021 for existing leases upon the adoption of ASC 842). The ROU assets also include any initial direct costs incurred and lease payments made at or before the commencement date and are reduced by any lease incentives. Future lease payments may include fixed rent escalation clauses or payments that depend on an index (such as the consumer price index). Subsequent changes to an index and other periodic market-rate adjustments to base rent are recorded in variable lease expense in the period incurred. The Company has made an accounting policy election to account for lease and non-lease components in its contracts as a single lease component for all asset classes. The non-lease components typically represent additional services transferred to the Company, such as common area maintenance for real estate, which are variable in nature and recorded in variable lease expense in the period incurred. The Company uses its incremental borrowing rate to determine the present value of lease payments as the Company’s leases do not have a readily determinable implicit discount rate. The incremental borrowing rate is the rate of interest the Company would have to pay to borrow on a collateralized basis over a similar term and amount in a similar economic environment. Judgement is applied in assessing factors such as Company specific credit risk, lease term, nature and quality of the underlying collateral, currency and economic environment in determining the incremental borrowing rate to apply to each lease. Upon adoption, the Company recorded ROU assets and lease liabilities of approximately $25.0 million and $28.6 million, respectively, related to the Company’s operating leases. The adoption of the new lease standard did not materially impact our consolidated statements of operations or consolidated statements of cash flows. See Note 6 for more information. Debt with Conversion and Other Options and Contracts in Entity’s Own Equity 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 (“ASU 2020-06”), which simplifies the accounting for certain financial instruments with characteristics of liabilities and equity. Among other changes, the standard eliminates the beneficial conversion and cash conversion accounting models for convertible instruments. As a result, entities will account for a convertible debt instrument wholly as debt unless the instrument contains features that require bifurcation as a derivative in accordance with ASC Topic 815, Derivatives and Hedging, or a convertible debt instrument was issued at a substantial premium. In addition, the amendments also require the if-converted method to be applied for all convertible instruments when calculating diluted earnings per share. The standard is effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted. The Company early adopted the new standard on January 1, 2021. The adoption of the standard did not have a material impact on the Company’s consolidated financial statements.

Disclosure of accounting policy for revenue from contract with customer.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130561-203045

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/exampleRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 606
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-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130564-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of presentation and description of business (Tables)

6 Months Ended

Jun. 30, 2021

Schedule of Revenue by Geographic Location

Revenue by geographic region as determined based on the end user customer address was as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020 (1)		2021 (2)		2020 (1)
			(As Revised)				(As Revised)
	(in thousands)
Revenue:
The Americas	$	64,726	$	48,145	$	125,543	$	95,016
Europe, the Middle East, India, and Africa	15,655		10,631		30,178		20,561
Asia Pacific	5,857		3,488		11,244		6,740
	$	86,238	$	62,264	$	166,965	$	122,317

(1) Certain prior period amounts have been revised to correct immaterial errors. See above for more information.

(2) Includes the three months ended March 31, 2021, which has been revised to correct immaterial errors. See above for more information.

Schedule of Error Corrections and Prior Period Adjustments

The tables below provide reconciliations of our previously reported amounts to revised amounts to correct for these immaterial errors in our consolidated financial statements as of and for the years ended December 31, 2020, 2019 and 2018 and our unaudited consolidated financial statements as of and for the quarter ended March 31, 2021 and as of and for the quarter and year-to-date periods ended June 30, 2020.


	December 31, 2020
	As Previously Reported		Adjustments				As Revised
			Commissions		Other
	(in thousands)
Assets
Current assets:
Cash and cash equivalents	$	194,868	$	—	$	—	$	194,868
Trade accounts receivable, net of allowances	69,056		—		—		69,056
Income taxes receivable	632		—		—		632
Deferred contract costs	9,959		(1,675)		—		8,284
Prepaid expenses	13,283		—		—		13,283
Other current assets	1,113		—		—		1,113
Total current assets	288,911		(1,675)		—		287,236
Equipment and leasehold improvements, net	12,755		—		2,375		15,130
Goodwill	541,480		—		—		541,480
Other intangible assets, net	202,878		—		—		202,878
Deferred contract costs, non-current	26,770		(4,568)		—		22,202
Other assets	5,359		—		—		5,359
Total assets	$	1,078,153	$	(6,243)	$	2,375	$	1,074,285
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable	$	6,967	$	—	$	—	$	6,967
Accrued liabilities	31,574		—		342		31,916
Income taxes payable	713		—		—		713
Deferred revenues	160,443		—		(441)		160,002
Total current liabilities	199,697		—		(99)		199,598
Deferred revenues, non-current	45,507		—		—		45,507
Deferred tax liability, net	6,422		(1,535)		200		5,087
Other liabilities	11,046		—		2,033		13,079
Total liabilities	262,672		(1,535)		2,134		263,271
Commitments and contingencies
Stockholders’ equity:
Preferred stock	—		—		—		—
Common stock	117		—		—		117
Additional paid‑in capital	903,116		—		—		903,116
Accumulated deficit	(87,752)		(4,708)		241		(92,219)
Total stockholders’ equity	815,481		(4,708)		241		811,014
Total liabilities and stockholders’ equity	$	1,078,153	$	(6,243)	$	2,375	$	1,074,285


	Year Ended December 31, 2020
	As Previously Reported		Adjustments				As Revised
			Commissions		Other
	(in thousands, except share and per share amounts)
Revenue:
Subscription	$	249,192	$	—	$	(313)	$	248,879
Services	14,525		—		(6)		14,519
License	5,734		—		—		5,734
Total revenue	269,451		—		(319)		269,132
Cost of revenue:
Cost of subscription (exclusive of amortization expense shown below)	39,323		—		206		39,529
Cost of services (exclusive of amortization expense shown below)	10,712		—		14		10,726
Amortization expense	10,753		—		—		10,753
Total cost of revenue	60,788		—		220		61,008
Gross profit	208,663		—		(539)		208,124
Operating expenses:
Sales and marketing	96,251		2,497		137		98,885
Research and development	52,431		—		82		52,513
General and administrative	51,904		—		(301)		51,603
Amortization expense	22,575		—		—		22,575
Total operating expenses	223,161		2,497		(82)		225,576
Loss from operations	(14,498)		(2,497)		(457)		(17,452)
Interest expense, net	(10,741)		—		—		(10,741)
Loss on extinguishment of debt	(5,213)		—		—		(5,213)
Foreign currency transaction loss	(722)		—		—		(722)
Other income, net	91		—		—		91
Loss before income tax benefit	(31,083)		(2,497)		(457)		(34,037)
Income tax benefit	8,312		619		1,024		9,955
Net loss	$	(22,771)	$	(1,878)	$	567	$	(24,082)
Net loss per share, basic and diluted	$	(0.21)					$	(0.22)
Weighted-average shares used to compute net loss per share, basic and diluted	108,908,597						108,908,597


	Stock Class			Additional Paid‑In Capital		Accumulated Deficit		Stockholders’ Equity
	Common
	Shares	Amount
	(in thousands, except share amounts)
As Previously Reported
Balance, December 31, 2019	102,843,612	$	103	$	568,756	$	(64,981)	$	503,878
Issuance of common stock upon initial public offering, net of underwriting discounts and commissions, offering costs and tax	13,500,000	14		322,399		—		322,413
Private placement	85,880	—		2,233		—		2,233
Exercise of stock options	526,460	—		2,985		—		2,985
Vesting of restricted stock units	36,520	—		—		—		—
Share‑based compensation	—	—		6,743		—		6,743
Net loss	—	—		—		(22,771)		(22,771)
Balance, December 31, 2020	116,992,472	$	117	$	903,116	$	(87,752)	$	815,481

Commissions Adjustment
Balance, December 31, 2019	—	$	—	$	—	$	(2,830)	$	(2,830)
Issuance of common stock upon initial public offering, net of underwriting discounts and commissions, offering costs and tax	—	—		—		—		—
Private placement	—	—		—		—		—
Exercise of stock options	—	—		—		—		—
Vesting of restricted stock units	—	—		—		—		—
Share‑based compensation	—	—		—		—		—
Net loss	—	—		—		(1,878)		(1,878)
Balance, December 31, 2020	—	$	—	$	—	$	(4,708)	$	(4,708)

Other Adjustments
Balance, December 31, 2019	—	$	—	$	—	$	(326)	$	(326)
Issuance of common stock upon initial public offering, net of underwriting discounts and commissions, offering costs and tax	—	—		—		—		—
Private placement	—	—		—		—		—
Exercise of stock options	—	—		—		—		—
Vesting of restricted stock units	—	—		—		—		—
Share‑based compensation	—	—		—		—		—
Net loss	—	—		—		567		567
Balance, December 31, 2020	—	$	—	$	—	$	241	$	241

As Revised
Balance, December 31, 2019	102,843,612	$	103	$	568,756	$	(68,137)	$	500,722
Issuance of common stock upon initial public offering, net of underwriting discounts and commissions, offering costs and tax	13,500,000	14		322,399		—		322,413
Private placement	85,880	—		2,233		—		2,233
Exercise of stock options	526,460	—		2,985		—		2,985
Vesting of restricted stock units	36,520	—		—		—		—
Share‑based compensation	—	—		6,743		—		6,743
Net loss	—	—		—		(24,082)		(24,082)
Balance, December 31, 2020	116,992,472	$	117	$	903,116	$	(92,219)	$	811,014


	Year Ended December 31, 2020
	As Previously Reported		Adjustments				As Revised
			Commissions		Other
	(in thousands)
Cash flows from operating activities
Net loss	$	(22,771)	$	(1,878)	$	567	$	(24,082)
Adjustments to reconcile net loss to cash provided by operating activities:
Depreciation and amortization expense	38,168		—		343		38,511
Amortization of deferred contract costs	9,647		(1,694)		—		7,953
Amortization of debt issuance costs	773		—		—		773
Provision for bad debt expense and returns	1,024		—		—		1,024
Gain on disposal of equipment and leasehold improvements	(29)		—		29		—
Loss on extinguishment of debt	5,213		—		—		5,213
Share‑based compensation	6,743		—		—		6,743
Deferred tax benefit	(8,675)		(619)		(1,024)		(10,318)
Adjustment to contingent consideration	(1,000)		—		—		(1,000)
Other	(263)		—		(227)		(490)
Changes in operating assets and liabilities:
Trade accounts receivable	(23,170)		—		58		(23,112)
Income tax receivable/payable	(766)		—		—		(766)
Prepaid expenses and other assets	(4,119)		—		499		(3,620)
Deferred contract costs	(24,589)		4,191		—		(20,398)
Deferred taxes	145		—		(145)		—
Accounts payable	3,888		—		138		4,026
Accrued liabilities	5,501		—		—		5,501
Deferred revenue	65,125		—		(180)		64,945
Other liabilities	1,898		—		—		1,898
Net cash provided by operating activities	52,743		—		58		52,801
Cash flows from investing activities
Acquisition, net of cash acquired	(2,512)		—		—		(2,512)
Purchases of equipment and leasehold improvements	(4,368)		—		—		(4,368)
Proceeds from sale of equipment and leasehold improvements	4		—		—		4
Net cash used in investing activities	(6,876)		—		—		(6,876)
Cash flows from financing activities
Debt issuance costs	(1,264)		—		—		(1,264)
Payment of debt	(205,000)		—		—		(205,000)
Payment of debt extinguishment costs	(2,050)		—		—		(2,050)
Proceeds from initial public offering, net of underwriting discounts and commissions	326,316		—		—		326,316
Cash paid for offering costs	(7,256)		—		—		(7,256)
Proceeds from private placement	2,233		—		—		2,233
Proceeds from the exercise of stock options	2,985		—		—		2,985
Net cash provided by financing activities	115,964		—		—		115,964
Effect of exchange rate changes on cash and cash equivalents	604		—		—		604
Net increase in cash and cash equivalents	162,435		—		58		162,493
Cash and cash equivalents, beginning of period	32,433		—		(58)		32,375
Cash and cash equivalents, end of period	$	194,868	$	—	$	—	$	194,868
Supplemental disclosures of cash flow information:
Cash paid for interest	$	12,649	$	—	$	—	$	12,649
Cash paid for income taxes, net of refunds	1,394		—		—		1,394


	December 31, 2019
	As Previously Reported		Adjustments				As Revised
			Commissions		Other
	(in thousands)
Assets
Current assets:
Cash and cash equivalents	$	32,433	$	—	$	(58)	$	32,375
Trade accounts receivable, net of allowances	46,513		—		58		46,571
Income taxes receivable	14		—		—		14
Deferred contract costs	5,553		(932)		—		4,621
Prepaid expenses	10,935		—		(2,841)		8,094
Other current assets	3,133		—		499		3,632
Total current assets	98,581		(932)		(2,342)		95,307
Equipment and leasehold improvements, net	12,477		—		2,718		15,195
Goodwill	539,818		—		—		539,818
Other intangible assets, net	235,099		—		—		235,099
Deferred contract costs, non-current	16,234		(2,814)		—		13,420
Other assets	2,599		—		2,841		5,440
Total assets	$	904,808	$	(3,746)	$	3,217	$	904,279
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable	$	3,684	$	—	$	(138)	$	3,546
Accrued liabilities	26,927		—		342		27,269
Income taxes payable	819		—		—		819
Deferred revenues	120,089		—		(261)		119,828
Total current liabilities	151,519		—		(57)		151,462
Deferred revenues, non-current	20,621		—		—		20,621
Deferred tax liability, net	18,133		(916)		1,224		18,441
Debt	201,319		—		—		201,319
Other liabilities	9,338		—		2,376		11,714
Total liabilities	400,930		(916)		3,543		403,557
Commitments and contingencies
Stockholders’ equity:
Preferred stock	—		—		—		—
Common stock	103		—		—		103
Additional paid‑in capital	568,756		—		—		568,756
Accumulated deficit	(64,981)		(2,830)		(326)		(68,137)
Total stockholders’ equity	503,878		(2,830)		(326)		500,722
Total liabilities and stockholders’ equity	$	904,808	$	(3,746)	$	3,217	$	904,279


	Year Ended December 31, 2019
	As Previously Reported		Adjustments				As Revised
			Commissions		Other
	(in thousands, except share and per share amounts)
Revenue:
Subscription	$	175,189	$	—	$	(71)	$	175,118
Services	19,008		—		6		19,014
License	9,830		—		3		9,833
Total revenue	204,027		—		(62)		203,965
Cost of revenue:
Cost of subscription (exclusive of amortization expense shown below)	31,539		—		(82)		31,457
Cost of services (exclusive of amortization expense shown below)	14,224		—		15		14,239
Amortization expense	10,266		—		—		10,266
Total cost of revenue	56,029		—		(67)		55,962
Gross profit	147,998		—		5		148,003
Operating expenses:
Sales and marketing	71,006		1,991		106		73,103
Research and development	42,829		—		69		42,898
General and administrative	32,003		—		(494)		31,509
Amortization expense	22,416		—		—		22,416
Total operating expenses	168,254		1,991		(319)		169,926
Loss from operations	(20,256)		(1,991)		324		(21,923)
Interest expense, net	(21,423)		—		—		(21,423)
Foreign currency transaction loss	(1,252)		—		—		(1,252)
Other income, net	220		—		—		220
Loss before income tax benefit	(42,711)		(1,991)		324		(44,378)
Income tax benefit	10,111		488		(566)		10,033
Net loss	$	(32,600)	$	(1,503)	$	(242)	$	(34,345)
Net loss per share, basic and diluted	$	(0.32)					$	(0.33)
Weighted-average shares used to compute net loss per share, basic and diluted	102,752,092						102,752,092


	Stock Class			Additional Paid‑In Capital		Accumulated Deficit		Stockholders’ Equity
	Common
	Shares	Amount
	(in thousands, except share amounts)
As Previously Reported
Balance, December 31, 2018	102,649,701	$	103	$	565,372	$	(32,381)	$	533,094
Exercise of stock options	168,391	—		923		—		923
Vesting of restricted stock units	25,520	—		—		—		—
Share‑based compensation	—	—		2,461		—		2,461
Net loss	—	—		—		(32,600)		(32,600)
Balance, December 31, 2019	102,843,612	$	103	$	568,756	$	(64,981)	$	503,878

Commissions Adjustment
Balance, December 31, 2018	—	$	—	$	—	$	(1,327)	$	(1,327)
Exercise of stock options	—	—		—		—		—
Vesting of restricted stock units	—	—		—		—		—
Share‑based compensation	—	—		—		—		—
Net loss	—	—		—		(1,503)		(1,503)
Balance, December 31, 2019	—	$	—	$	—	$	(2,830)	$	(2,830)

Other Adjustments
Balance, December 31, 2018	—	$	—	$	—	$	(84)	$	(84)
Exercise of stock options	—	—		—		—		—
Vesting of restricted stock units	—	—		—		—		—
Share‑based compensation	—	—		—		—		—
Net loss	—	—		—		(242)		(242)
Balance, December 31, 2019	—	$	—	$	—	$	(326)	$	(326)

As Revised
Balance, December 31, 2018	102,649,701	$	103	$	565,372	$	(33,792)	$	531,683
Exercise of stock options	168,391	—		923		—		923
Vesting of restricted stock units	25,520	—		—		—		—
Share‑based compensation	—	—		2,461		—		2,461
Net loss	—	—		—		(34,345)		(34,345)
Balance, December 31, 2019	102,843,612	$	103	$	568,756	$	(68,137)	$	500,722


	Year Ended December 31, 2019
	As Previously Reported		Adjustments				As Revised
			Commissions		Other
	(in thousands)
Cash flows from operating activities
Net loss	$	(32,600)	$	(1,503)	$	(242)	$	(34,345)
Adjustments to reconcile net loss to cash provided by operating activities:
Depreciation and amortization expense	36,807		—		275		37,082
Amortization of deferred contract costs	6,250		(1,014)		—		5,236
Amortization of debt issuance costs	1,120		—		—		1,120
Provision for bad debt expense and returns	279		—		—		279
Gain on disposal of equipment and leasehold improvements	(17)		—		17		—
Share‑based compensation	2,461		—		—		2,461
Deferred tax benefit	(11,247)		(488)		566		(11,169)
Adjustment to contingent consideration	200		—		—		200
Other	—		—		(292)		(292)
Changes in operating assets and liabilities:
Trade accounts receivable	(14,741)		—		(58)		(14,799)
Income tax receivable/payable	559		—		—		559
Prepaid expenses and other assets	(4,585)		—		(521)		(5,106)
Deferred contract costs	(17,050)		3,005		—		(14,045)
Accounts payable	1,138		—		(138)		1,000
Accrued liabilities	6,390		—		(41)		6,349
Deferred revenue	36,998		—		376		37,374
Other liabilities	(58)		—		—		(58)
Net cash provided by operating activities	11,904		—		(58)		11,846
Cash flows from investing activities
Acquisition, net of cash acquired	(40,173)		—		—		(40,173)
Purchases of equipment and leasehold improvements	(7,190)		—		—		(7,190)
Net cash used in investing activities	(47,363)		—		—		(47,363)
Cash flows from financing activities
Proceeds from debt	40,000		—		—		40,000
Debt issuance costs	(1,550)		—		—		(1,550)
Payment of debt	(10,000)		—		—		(10,000)
Cash paid for offering costs	(721)		—		—		(721)
Proceeds from the exercise of stock options	923		—		—		923
Net cash provided by financing activities	28,652		—		—		28,652
Net decrease in cash and cash equivalents	(6,807)		—		(58)		(6,865)
Cash and cash equivalents, beginning of period	39,240		—		—		39,240
Cash and cash equivalents, end of period	$	32,433	$	—	$	(58)	$	32,375
Supplemental disclosures of cash flow information:
Cash paid for interest	$	20,693	$	—	$	—	$	20,693
Cash paid for income taxes, net of refunds	596		—		—		596
Non-cash investing activities:
Leasehold improvements acquired through lease incentives	$	—	$	—	$	2,672	$	2,672


	December 31, 2018
	As Previously Reported		Adjustments				As Revised
			Commissions		Other
	(in thousands)
Assets
Current assets:
Cash and cash equivalents	$	39,240	$	—	$	—	$	39,240
Trade accounts receivable, net of allowances	30,854		—		—		30,854
Income taxes receivable	65		—		—		65
Deferred contract costs	2,526		(398)		—		2,128
Prepaid expenses	6,682		—		(207)		6,475
Other current assets	922		—		185		1,107
Total current assets	80,289		(398)		(22)		79,869
Equipment and leasehold improvements, net	9,228		—		321		9,549
Goodwill	501,145		—		—		501,145
Other intangible assets, net	252,171		—		—		252,171
Deferred contract costs, non-current	8,461		(1,357)		—		7,104
Other assets	2,090		—		—		2,090
Total assets	$	853,384	$	(1,755)	$	299	$	851,928
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable	$	2,343	$	—	$	—	$	2,343
Accrued liabilities	18,809		—		94		18,903
Income taxes payable	147		—		—		147
Deferred revenues	86,220		—		(637)		85,583
Total current liabilities	107,519		—		(543)		106,976
Deferred revenues, non-current	14,442		—		—		14,442
Deferred tax liability, net	26,384		(428)		658		26,614
Debt	171,749		—		—		171,749
Other liabilities	196		—		268		464
Total liabilities	320,290		(428)		383		320,245
Commitments and contingencies
Stockholders’ equity:
Preferred stock	—		—		—		—
Common stock	103		—		—		103
Additional paid‑in capital	565,372		—		—		565,372
Accumulated deficit	(32,381)		(1,327)		(84)		(33,792)
Total stockholders’ equity	533,094		(1,327)		(84)		531,683
Total liabilities and stockholders’ equity	$	853,384	$	(1,755)	$	299	$	851,928


	Year Ended December 31, 2018
	As Previously Reported		Adjustments				As Revised
			Commissions		Other
	(in thousands, except share and per share amounts)
Revenue:
Subscription	$	113,040	$	—	$	827	$	113,867
Services	20,206		—		(5)		20,201
License	13,316		—		—		13,316
Total revenue	146,562		—		822		147,384
Cost of revenue:
Cost of subscription (exclusive of amortization expense shown below)	24,088		—		11		24,099
Cost of services (exclusive of amortization expense shown below)	16,246		—		4		16,250
Amortization expense	8,969		—		—		8,969
Total cost of revenue	49,303		—		15		49,318
Gross profit	97,259		—		807		98,066
Operating expenses:
Sales and marketing	51,976		1,755		18		53,749
Research and development	31,515		—		12		31,527
General and administrative	22,270		—		174		22,444
Amortization expense	21,491		—		—		21,491
Total operating expenses	127,252		1,755		204		129,211
Loss from operations	(29,993)		(1,755)		603		(31,145)
Interest expense, net	(18,203)		—		—		(18,203)
Foreign currency transaction loss	(418)		—		—		(418)
Other income, net	221		—		—		221
Loss before income tax benefit	(48,393)		(1,755)		603		(49,545)
Income tax benefit	12,137		428		(599)		11,966
Net loss	$	(36,256)	$	(1,327)	$	4	$	(37,579)
Net loss per share, basic and diluted	$	(0.35)					$	(0.37)
Weighted-average shares used to compute net loss per share, basic and diluted	102,325,465						102,325,465


	Stock Class			Additional Paid‑In Capital		Retained Earnings (Accumulated Deficit)		Stockholders’ Equity
	Common
	Shares	Amount
	(in thousands, except share amounts)
As Previously Reported
Balance, December 31, 2017	102,300,010	$	102	$	561,288	$	3,875	$	565,265
Exercise of stock options	322,851	1		1,769		—		1,770
Vesting of restricted stock units	26,840	—		—		—		—
Share‑based compensation	—	—		2,315		—		2,315
Net loss	—	—		—		(36,256)		(36,256)
Balance, December 31, 2018	102,649,701	$	103	$	565,372	$	(32,381)	$	533,094

Commissions Adjustment
Balance, December 31, 2017	—	$	—	$	—	$	—	$	—
Exercise of stock options	—	—		—		—		—
Vesting of restricted stock units	—	—		—		—		—
Share‑based compensation	—	—		—		—		—
Net loss	—	—		—		(1,327)		(1,327)
Balance, December 31, 2018	—	$	—	$	—	$	(1,327)	$	(1,327)

Other Adjustments
Balance, December 31, 2017	—	$	—	$	—	$	(88)	$	(88)
Exercise of stock options	—	—		—		—		—
Vesting of restricted stock units	—	—		—		—		—
Share‑based compensation	—	—		—		—		—
Net loss	—	—		—		4		4
Balance, December 31, 2018	—	$	—	$	—	$	(84)	$	(84)

As Revised
Balance, December 31, 2017	102,300,010	$	102	$	561,288	$	3,787	$	565,177
Exercise of stock options	322,851	1		1,769		—		1,770
Vesting of restricted stock units	26,840	—		—		—		—
Share‑based compensation	—	—		2,315		—		2,315
Net loss	—	—		—		(37,579)		(37,579)
Balance, December 31, 2018	102,649,701	$	103	$	565,372	$	(33,792)	$	531,683


	Year Ended December 31, 2018
	As Previously Reported		Adjustments				As Revised
			Commissions		Other
	(in thousands)
Cash flows from operating activities
Net loss	$	(36,256)	$	(1,327)	$	4	$	(37,579)
Adjustments to reconcile net loss to cash provided by operating activities:
Depreciation and amortization expense	33,914		—		48		33,962
Amortization of deferred contract costs	3,391		(527)		—		2,864
Amortization of debt issuance costs	513		—		—		513
Provision for bad debt expense and returns	37		—		—		37
Loss on disposal of equipment and leasehold improvements	14		—		(14)		—
Share‑based compensation	2,315		—		—		2,315
Deferred tax benefit	(12,550)		(428)		599		(12,379)
Other	—		—		(34)		(34)
Changes in operating assets and liabilities:
Trade accounts receivable	(3,353)		—		—		(3,353)
Income tax receivable/payable	(977)		—		—		(977)
Prepaid expenses and other assets	(2,555)		—		(2)		(2,557)
Deferred contract costs	(13,222)		2,282		—		(10,940)
Accounts payable	(313)		—		—		(313)
Accrued liabilities	5,965		—		36		6,001
Deferred revenue	32,476		—		(637)		31,839
Other liabilities	(39)		—		—		(39)
Net cash provided by operating activities	9,360		—		—		9,360
Cash flows from investing activities
Acquisition, net of cash acquired	(2,893)		—		—		(2,893)
Purchases of equipment and leasehold improvements	(2,909)		—		—		(2,909)
Net cash used in investing activities	(5,802)		—		—		(5,802)
Cash flows from financing activities
Proceeds from the exercise of stock options	1,770		—		—		1,770
Net cash provided by financing activities	1,770		—		—		1,770
Net increase in cash and cash equivalents	5,328		—		—		5,328
Cash and cash equivalents, beginning of period	33,912		—		—		33,912
Cash and cash equivalents, end of period	$	39,240	$	—	$	—	$	39,240
Supplemental disclosures of cash flow information:
Cash paid for interest	$	17,835	$	—	$	—	$	17,835
Cash paid for income taxes, net of refunds	1,461		—		—		1,461
Non-cash investing activities:
Leasehold improvements acquired through lease incentives	$	—	$	—	$	369	$	369


	March 31, 2021
	As Previously Reported		Adjustments				As Revised
			Commissions		Other
	(in thousands)
Assets
Current assets:
Cash and cash equivalents	$	196,190	$	—	$	—	$	196,190
Trade accounts receivable, net of allowances	75,882		—		—		75,882
Income taxes receivable	632		—		—		632
Deferred contract costs	11,155		(1,942)		—		9,213
Prepaid expenses	15,009		—		—		15,009
Other current assets	2,325		—		—		2,325
Total current assets	301,193		(1,942)		—		299,251
Equipment and leasehold improvements, net	16,965		—		(186)		16,779
Goodwill	541,850		—		—		541,850
Other intangible assets, net	197,504		—		—		197,504
Deferred contract costs, non-current	28,774		(5,136)		—		23,638
Other assets	28,898		—		—		28,898
Total assets	$	1,115,184	$	(7,078)	$	(186)	$	1,107,920
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable	$	5,744	$	—	$	—	$	5,744
Accrued liabilities	28,131		—		—		28,131
Income taxes payable	1,153		—		(87)		1,066
Deferred revenues	167,868		—		—		167,868
Total current liabilities	202,896		—		(87)		202,809
Deferred revenues, non-current	53,711		—		—		53,711
Deferred tax liability, net	5,475		(1,465)		275		4,285
Other liabilities	33,839		—		—		33,839
Total liabilities	295,921		(1,465)		188		294,644
Commitments and contingencies
Stockholders’ equity:
Preferred stock	—		—		—		—
Common stock	118		—		—		118
Additional paid‑in capital	909,966		—		—		909,966
Accumulated deficit	(90,821)		(5,613)		(374)		(96,808)
Total stockholders’ equity	819,263		(5,613)		(374)		813,276
Total liabilities and stockholders’ equity	$	1,115,184	$	(7,078)	$	(186)	$	1,107,920


	Three Months Ended March 31, 2021
	As Previously Reported		Adjustments				As Revised
			Commissions		Other
	(in thousands, except share and per share amounts)
Revenue:
Subscription	$	74,923	$	—	$	(441)	$	74,482
Services	4,003		—		—		4,003
License	2,242		—		—		2,242
Total revenue	81,168		—		(441)		80,727
Cost of revenue:
Cost of subscription (exclusive of amortization expense shown below)	12,014		—		—		12,014
Cost of services (exclusive of amortization expense shown below)	2,465		—		—		2,465
Amortization expense	2,777		—		—		2,777
Total cost of revenue	17,256		—		—		17,256
Gross profit	63,912		—		(441)		63,471
Operating expenses:
Sales and marketing	29,332		835		—		30,167
Research and development	15,626		—		—		15,626
General and administrative	16,105		—		139		16,244
Amortization expense	5,627		—		—		5,627
Total operating expenses	66,690		835		139		67,664
Loss from operations	(2,778)		(835)		(580)		(4,193)
Interest expense, net	(55)		—		—		(55)
Foreign currency transaction loss	(171)		—		(47)		(218)
Other income, net	—		—		—		—
Loss before income tax provision	(3,004)		(835)		(627)		(4,466)
Income tax provision	(65)		(70)		12		(123)
Net loss	$	(3,069)	$	(905)	$	(615)	$	(4,589)
Net loss per share, basic and diluted	$	(0.03)					$	(0.04)
Weighted-average shares used to compute net loss per share, basic and diluted	117,386,322						117,386,322


	Stock Class			Additional Paid‑In Capital		Accumulated Deficit		Stockholders’ Equity
	Common
	Shares	Amount
	(in thousands, except share amounts)
As Previously Reported
Balance, December 31, 2020	116,992,472	$	117	$	903,116	$	(87,752)	$	815,481
Exercise of stock options	713,423	1		4,018		—		4,019
Share‑based compensation	—	—		2,832		—		2,832
Net loss	—	—		—		(3,069)		(3,069)
Balance, March 31, 2021	117,705,895	$	118	$	909,966	$	(90,821)	$	819,263

Commissions Adjustment
Balance, December 31, 2020	—	$	—	$	—	$	(4,708)	$	(4,708)
Exercise of stock options	—	—		—		—		—
Share‑based compensation	—	—		—		—		—
Net loss	—	—		—		(905)		(905)
Balance, March 31, 2021	—	$	—	$	—	$	(5,613)	$	(5,613)

Other Adjustments
Balance, December 31, 2020	—	$	—	$	—	$	241	$	241
Exercise of stock options	—	—		—		—		—
Share‑based compensation	—	—		—		—		—
Net loss	—	—		—		(615)		(615)
Balance, March 31, 2021	—	$	—	$	—	$	(374)	$	(374)

As Revised
Balance, December 31, 2020	116,992,472	$	117	$	903,116	$	(92,219)	$	811,014
Exercise of stock options	713,423	1		4,018		—		4,019
Share‑based compensation	—	—		2,832		—		2,832
Net loss	—	—		—		(4,589)		(4,589)
Balance, March 31, 2021	117,705,895	$	118	$	909,966	$	(96,808)	$	813,276


	Three Months Ended March 31, 2021
	As Previously Reported		Adjustments				As Revised
			Commissions		Other
	(in thousands)
Cash flows from operating activities
Net loss	$	(3,069)	$	(905)	$	(615)	$	(4,589)
Adjustments to reconcile net loss to cash provided by operating activities:
Depreciation and amortization expense	9,784		—		—		9,784
Amortization of deferred contract costs	3,296		(596)		—		2,700
Amortization of debt issuance costs	69		—		—		69
Non-cash lease expense	1,267		—		—		1,267
Provision for bad debt expense and returns	159		—		—		159
Share‑based compensation	2,832		—		—		2,832
Deferred tax benefit	(758)		70		75		(613)
Adjustment to contingent consideration	300		—		—		300
Other	62		—		139		201
Changes in operating assets and liabilities:
Trade accounts receivable	(7,066)		—		—		(7,066)
Income tax receivable/payable	463		—		(87)		376
Prepaid expenses and other assets	(3,317)		—		—		(3,317)
Deferred contract costs	(6,496)		1,431		—		(5,065)
Accounts payable	(1,191)		—		—		(1,191)
Accrued liabilities	(7,694)		—		11		(7,683)
Deferred revenue	15,472		—		441		15,913
Other liabilities	(90)		—		36		(54)
Net cash provided by operating activities	4,023		—		—		4,023
Cash flows from investing activities
Acquisition, net of cash acquired	(3,041)		—		—		(3,041)
Purchases of equipment and leasehold improvements	(3,290)		—		—		(3,290)
Proceeds from sale of equipment and leasehold improvements	12		—		—		12
Net cash used in investing activities	(6,319)		—		—		(6,319)
Cash flows from financing activities
Proceeds from the exercise of stock options	4,019		—		—		4,019
Net cash provided by financing activities	4,019		—		—		4,019
Effect of exchange rate changes on cash and cash equivalents	(401)						(401)
Net increase in cash and cash equivalents	1,322		—		—		1,322
Cash and cash equivalents, beginning of period	194,868		—		—		194,868
Cash and cash equivalents, end of period	$	196,190	$	—	$	—	$	196,190
Supplemental disclosures of cash flow information:
Cash paid for interest	$	3	$	—	$	—	$	3
Cash paid for income taxes, net of refunds	351		—		—		351
Operating lease assets obtained in exchange for operating lease liabilities	(19)		—		—		(19)


	June 30, 2020
	As Previously Reported		Adjustments				As Revised
			Commissions		Other
	(in thousands)
Assets
Current assets:
Cash and cash equivalents	$	38,424	$	—	$	—	$	38,424
Trade accounts receivable, net of allowances	53,275		—		—		53,275
Income taxes receivable	554		—		—		554
Deferred contract costs	7,270		(1,277)		—		5,993
Prepaid expenses	10,880		—		—		10,880
Other current assets	6,314		—		—		6,314
Total current assets	116,717		(1,277)		—		115,440
Equipment and leasehold improvements, net	11,494		—		2,550		14,044
Goodwill	539,818		—		—		539,818
Other intangible assets, net	218,430		—		—		218,430
Deferred contract costs, non-current	20,334		(3,703)		—		16,631
Other assets	2,557		—		—		2,557
Total assets	$	909,350	$	(4,980)	$	2,550	$	906,920
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable	$	3,909	$	—	$	(194)	$	3,715
Accrued liabilities	26,099		—		342		26,441
Income taxes payable	1,081		—		—		1,081
Deferred revenues	130,309		—		(456)		129,853
Total current liabilities	161,398		—		(308)		161,090
Deferred revenues, non-current	27,429		—		—		27,429
Deferred tax liability, net	14,913		(1,227)		1,670		15,356
Debt	201,891		—		—		201,891
Other liabilities	6,876		—		2,208		9,084
Total liabilities	412,507		(1,227)		3,570		414,850
Commitments and contingencies
Stockholders’ equity:
Preferred stock	—		—		—		—
Common stock	103		—		—		103
Additional paid‑in capital	570,434		—		—		570,434
Accumulated deficit	(73,694)		(3,753)		(1,020)		(78,467)
Total stockholders’ equity	496,843		(3,753)		(1,020)		492,070
Total liabilities and stockholders’ equity	$	909,350	$	(4,980)	$	2,550	$	906,920


	Three Months Ended June 30, 2020
	As Previously Reported (1)		Adjustments				As Revised
			Commissions		Other
	(in thousands, except share and per share amounts)
Revenue:
Subscription	$	58,748	$	—	$	(148)	$	58,600
Services	2,451		—		181		2,632
License	1,032		—		—		1,032
Total revenue	62,231		—		33		62,264
Cost of revenue:
Cost of subscription (exclusive of amortization expense shown below)	8,762		—		(22)		8,740
Cost of services (exclusive of amortization expense shown below)	2,207		—		3		2,210
Amortization expense	2,678		—		—		2,678
Total cost of revenue	13,647		—		(19)		13,628
Gross profit	48,584		—		52		48,636
Operating expenses:
Sales and marketing	20,202		544		35		20,781
Research and development	11,929		—		20		11,949
General and administrative	6,603		—		(75)		6,528
Amortization expense	5,634		—		—		5,634
Total operating expenses	44,368		544		(20)		44,892
Income from operations	4,216		(544)		72		3,744
Interest expense, net	(4,690)		—		—		(4,690)
Foreign currency transaction loss	(13)		—		—		(13)
Other income, net	36		—		—		36
Loss before income tax benefit	(451)		(544)		72		(923)
Income tax benefit	28		142		(81)		89
Net loss	$	(423)	$	(402)	$	(9)	$	(834)
Net loss per share, basic and diluted	$	(0.00)					$	(0.01)
Weighted-average shares used to compute net loss per share, basic and diluted	102,862,404						102,862,404


	Six Months Ended June 30, 2020
	As Previously Reported (1)		Adjustments				As Revised
			Commissions		Other
	(in thousands, except share and per share amounts)
Revenue:
Subscription	$	113,366	$	—	$	(562)	$	112,804
Services	6,461		—		258		6,719
License	2,794		—		—		2,794
Total revenue	122,621		—		(304)		122,317
Cost of revenue:
Cost of subscription (exclusive of amortization expense shown below)	18,010		—		(22)		17,988
Cost of services (exclusive of amortization expense shown below)	5,293		—		7		5,300
Amortization expense	5,355		—		—		5,355
Total cost of revenue	28,658		—		(15)		28,643
Gross profit	93,963		—		(289)		93,674
Operating expenses:
Sales and marketing	42,484		1,234		67		43,785
Research and development	24,546		—		41		24,587
General and administrative	17,892		—		(149)		17,743
Amortization expense	11,308		—		—		11,308
Total operating expenses	96,230		1,234		(41)		97,423
Loss from operations	(2,267)		(1,234)		(248)		(3,749)
Interest expense, net	(9,468)		—		—		(9,468)
Foreign currency transaction loss	(317)		—		—		(317)
Other income, net	91		—		—		91
Loss before income tax benefit	(11,961)		(1,234)		(248)		(13,443)
Income tax benefit	3,248		311		(446)		3,113
Net loss	$	(8,713)	$	(923)	$	(694)	$	(10,330)
Net loss per share, basic and diluted	$	(0.08)					$	(0.10)
Weighted-average shares used to compute net loss per share, basic and diluted	102,861,475						102,861,475


	Stock Class			Additional Paid‑In Capital		Accumulated Deficit		Stockholders’ Equity
	Common
	Shares	Amount
	(in thousands, except share amounts)
As Previously Reported
Balance, March 31, 2020	102,862,404	$	103	$	569,670	$	(73,271)	$	496,502
Exercise of stock options	—	—		—		—		—
Share‑based compensation	—	—		764		—		764
Net loss	—	—		—		(423)		(423)
Balance, June 30, 2020	102,862,404	$	103	$	570,434	$	(73,694)	$	496,843

Commissions Adjustment
Balance, March 31, 2020	—	$	—	$	—	$	(3,351)	$	(3,351)
Exercise of stock options	—	—		—		—		—
Share‑based compensation	—	—		—		—		—
Net loss	—	—		—		(402)		(402)
Balance, June 30, 2020	—	$	—	$	—	$	(3,753)	$	(3,753)

Other Adjustments
Balance, March 31, 2020	—	$	—	$	—	$	(1,011)	$	(1,011)
Exercise of stock options	—	—		—		—		—
Share‑based compensation	—	—		—		—		—
Net loss	—	—		—		(9)		(9)
Balance, June 30, 2020	—	$	—	$	—	$	(1,020)	$	(1,020)

As Revised
Balance, March 31, 2020	102,862,404	$	103	$	569,670	$	(77,633)	$	492,140
Exercise of stock options	—	—		—		—		—
Share‑based compensation	—	—		764		—		764
Net loss	—	—		—		(834)		(834)
Balance, June 30, 2020	102,862,404	$	103	$	570,434	$	(78,467)	$	492,070


	Stock Class			Additional Paid‑In Capital		Accumulated Deficit		Stockholders’ Equity
	Common
	Shares	Amount
	(in thousands, except share amounts)
As Previously Reported
Balance, December 31, 2019	102,843,612	$	103	$	568,756	$	(64,981)	$	503,878
Exercise of stock options	18,792	—		103		—		103
Share‑based compensation	—	—		1,575		—		1,575
Net loss	—	—		—		(8,713)		(8,713)
Balance, June 30, 2020	102,862,404	$	103	$	570,434	$	(73,694)	$	496,843

Commissions Adjustment
Balance, December 31, 2019	—	$	—	$	—	$	(2,830)	$	(2,830)
Exercise of stock options	—	—		—		—		—
Share‑based compensation	—	—		—		—		—
Net loss	—	—		—		(923)		(923)
Balance, June 30, 2020	—	$	—	$	—	$	(3,753)	$	(3,753)

Other Adjustments
Balance, December 31, 2019	—	$	—	$	—	$	(326)	$	(326)
Exercise of stock options	—	—		—		—		—
Share‑based compensation	—	—		—		—		—
Net loss	—	—		—		(694)		(694)
Balance, June 30, 2020	—	$	—	$	—	$	(1,020)	$	(1,020)

As Revised
Balance, December 31, 2019	102,843,612	$	103	$	568,756	$	(68,137)	$	500,722
Exercise of stock options	18,792	—		103		—		103
Share‑based compensation	—	—		1,575		—		1,575
Net loss	—	—		—		(10,330)		(10,330)
Balance, June 30, 2020	102,862,404	$	103	$	570,434	$	(78,467)	$	492,070


	Six Months Ended June 30, 2020
	As Previously Reported		Adjustments				As Revised
			Commissions		Other
	(in thousands)
Cash flows from operating activities
Net loss	$	(8,713)	$	(923)	$	(694)	$	(10,330)
Adjustments to reconcile net loss to cash provided by operating activities:
Depreciation and amortization expense	19,002		—		168		19,170
Amortization of deferred contract costs	4,218		(766)		—		3,452
Amortization of debt issuance costs	571		—		—		571
Provision for bad debt expense and returns	812		—		—		812
Loss on disposal of equipment and leasehold improvements	12		—		(12)		—
Share‑based compensation	1,575		—		—		1,575
Deferred tax benefit	(3,217)		(311)		446		(3,082)
Adjustment to contingent consideration	(3,700)		—		—		(3,700)
Other	—		—		(156)		(156)
Changes in operating assets and liabilities:
Trade accounts receivable	(7,374)		—		58		(7,316)
Income tax receivable/payable	(278)		—		—		(278)
Prepaid expenses and other assets	429		—		499		928
Deferred contract costs	(10,035)		2,000		—		(8,035)
Accounts payable	258		—		(56)		202
Accrued liabilities	(2,371)		—		—		(2,371)
Deferred revenue	17,028		—		(195)		16,833
Other liabilities	1,240		—		—		1,240
Net cash provided by operating activities	9,457		—		58		9,515
Cash flows from investing activities
Purchases of equipment and leasehold improvements	(1,366)		—		—		(1,366)
Net cash used in investing activities	(1,366)		—		—		(1,366)
Cash flows from financing activities
Cash paid for offering costs	(2,203)		—		—		(2,203)
Proceeds from the exercise of stock options	103		—		—		103
Net cash used in financing activities	(2,100)		—		—		(2,100)
Effect of exchange rate changes on cash and cash equivalents	—		—		—		—
Net increase in cash and cash equivalents	5,991		—		58		6,049
Cash and cash equivalents, beginning of period	32,433		—		(58)		32,375
Cash and cash equivalents, end of period	$	38,424	$	—	$	—	$	38,424
Supplemental disclosures of cash flow information:
Cash paid for interest	$	9,262	$	—	$	—	$	9,262
Cash paid for income taxes, net of refunds	411		—		—		411
Offering costs, accrued but not yet paid	2,865		—		—		2,865

Summary of significant accounting policies (Tables)

6 Months Ended

Jun. 30, 2021

Accounting Policies [Abstract]

Disaggregation of Revenue

Revenue from subscription and non-subscription contractual arrangements are as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020 (1)		2021 (2)		2020 (1)
			(As Revised)				(As Revised)
	(in thousands)
SaaS subscription and support and maintenance	$	72,121	$	52,830	$	138,897	$	102,494
On‑premise subscription	8,597		5,770		16,303		10,310
Subscription revenue	80,718		58,600		155,200		112,804
Professional services	3,929		2,632		7,932		6,719
Perpetual licenses	1,591		1,032		3,833		2,794
Non‑subscription revenue	5,520		3,664		11,765		9,513
Total revenue	$	86,238	$	62,264	$	166,965	$	122,317

(1) Certain prior period amounts have been revised to correct immaterial errors. See Note 1 for more information.

(2) Includes the three months ended March 31, 2021, which has been revised to correct immaterial errors. See Note 1 for more information.

Contract with Customer Asset and Liability

Changes in contract liabilities, including revenue earned during the period from the beginning contract liability balance and new deferrals of revenue during the period, were as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020 (1)		2021 (2)		2020 (1)
			(As Revised)				(As Revised)
	(in thousands)
Balance, beginning of the period	$	221,579	$	145,312	$	205,509	$	140,449
Revenue earned	(66,967)		(49,393)		(111,398)		(91,395)
Deferral of revenue	83,845		61,363		144,346		108,228
Balance, end of the period	$	238,457	$	157,282	$	238,457	$	157,282

(1) Certain prior period amounts have been revised to correct immaterial errors. See Note 1 for more information.

(2) Includes the three months ended March 31, 2021, which has been revised to correct immaterial errors. See Note 1 for more information.

Financial instruments fair value (Tables)

6 Months Ended

Jun. 30, 2021

Fair Value Disclosures [Abstract]

Financial Instruments Fair Value

The fair value of these financial instruments were as follows:


	June 30, 2021
	Level 1		Level 2		Level 3		Total
	(in thousands)
Cash equivalents:
Money market funds	$	50,018	$	—	$	—	$	50,018
Total cash equivalents	$	50,018	$	—	$	—	$	50,018


	December 31, 2020
	Level 1		Level 2		Level 3		Total
	(in thousands)
Cash equivalents:
Money market funds	$	100,000	$	—	$	—	$	100,000
U.S. Treasuries	25,000		—		—		25,000
Total cash equivalents	$	125,000	$	—	$	—	$	125,000

Acquisitions (Tables)

6 Months Ended

Jun. 30, 2021

Business Combination and Asset Acquisition [Abstract]

Schedule of Acquisitions

The Company allocated the net purchase consideration to the net assets acquired based on their respective fair values at the time of the acquisition as follows (in thousands):


Cash consideration	$	3,041
Contingent consideration	359
Final aggregate purchase price	$	3,400

Intangible assets acquired:
Developed technology	$	2,630
IPR&D	400
Goodwill	370
Total purchase consideration	$	3,400

Goodwill and other intangible assets (Tables)

6 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes in Carrying Amount of Goodwill

The change in the carrying amount of goodwill is as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
	(in thousands)
Goodwill, beginning of period	$	541,850	$	539,818	$	541,480	$	539,818
Goodwill acquired	—		—		370		—
Goodwill, end of period	$	541,850	$	539,818	$	541,850	$	539,818

Schedule of Gross Carrying Amount and Accumulated Amortization of Intangible Assets Other Than Goodwill

The gross carrying amount and accumulated amortization of intangible assets other than goodwill are as follows:


	Useful Life	Gross Value		Accumulated Amortization		Net Carrying Value		Weighted‑ Average Remaining Useful Life
	(in thousands)
Trademarks	8 years	$	34,320	$	13,454	$	20,866	4.8 years
Customer relationships	2 ‑ 12 years	214,428		55,810		158,618		8.7 years
Developed technology	5 years	54,563		31,173		23,390		2.3 years
Non‑competes	2 years	90		86		4		0.1 years
Balance, December 31, 2020		$	303,401	$	100,523	$	202,878

Trademarks	8 years	$	34,300	$	15,578	$	18,722	4.3 years
Customer relationships	2 ‑ 12 years	214,408		64,893		149,515		8.2 years
Developed technology	5 years	57,193		36,809		20,384		2.2 years
Non‑competes	2 years	90		90		—		—
IPR&D	Indefinite	400		—		400
Balance, June 30, 2021		$	306,391	$	117,370	$	189,021

Schedule of Gross Carrying Amount and Accumulated Amortization of Intangible Assets Other Than Goodwill

The gross carrying amount and accumulated amortization of intangible assets other than goodwill are as follows:


	Useful Life	Gross Value		Accumulated Amortization		Net Carrying Value		Weighted‑ Average Remaining Useful Life
	(in thousands)
Trademarks	8 years	$	34,320	$	13,454	$	20,866	4.8 years
Customer relationships	2 ‑ 12 years	214,428		55,810		158,618		8.7 years
Developed technology	5 years	54,563		31,173		23,390		2.3 years
Non‑competes	2 years	90		86		4		0.1 years
Balance, December 31, 2020		$	303,401	$	100,523	$	202,878

Trademarks	8 years	$	34,300	$	15,578	$	18,722	4.3 years
Customer relationships	2 ‑ 12 years	214,408		64,893		149,515		8.2 years
Developed technology	5 years	57,193		36,809		20,384		2.2 years
Non‑competes	2 years	90		90		—		—
IPR&D	Indefinite	400		—		400
Balance, June 30, 2021		$	306,391	$	117,370	$	189,021

Leases - (Tables)

6 Months Ended

Jun. 30, 2021

Leases [Abstract]

Supplemental Balance Sheet Information

Supplemental balance sheet information related to the Company’s operating leases is as follows:

Leases

Balance Sheet Classification

June 30, 2021

(in thousands)

Assets

Operating lease assets

Other assets

22,737

Liabilities

Operating lease liabilities - current

Accrued liabilities

4,826

Operating lease liabilities - non-current

Other liabilities

22,063

Total operating lease liabilities

26,889

Components of Lease Expense

The components of lease expense were as follows:


	Three Months Ended June 30, 2021		Six Months Ended June 30, 2021
	(in thousands)
Operating lease cost	$	1,369	$	2,883
Short-term lease cost	52		104
Variable lease cost	441		880
Total lease expense	$	1,862	$	3,867

Schedule of Operating Lease Liability

Maturities of the Company’s operating lease liabilities as of June 30, 2021 were as follows:


	Operating Leases
	(in thousands)
Years ending December 31:
2021 (remaining six months)	$	2,887
2022	5,422
2023	5,347
2024	4,596
2025	2,519
Thereafter	9,482
Total lease payments	30,253
Less: imputed interest	3,364
Total present value of lease liabilities	$	26,889

Net loss per share (Tables)

6 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted Net Loss Per Share

The following table sets forth the computation of basic and diluted net loss per share:


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020 (1)		2021 (2)		2020 (1)
			(As Revised)				(As Revised)
	(in thousands, except share and per share amounts)
Numerator:
Net loss	$	(16,467)	$	(834)	$	(21,056)	$	(10,330)
Denominator:
Weighted-average shares used to compute net loss per share, basic and diluted	117,909,720		102,862,404		117,649,467		102,861,475
Basic and diluted net loss per share	$	(0.14)	$	(0.01)	$	(0.18)	$	(0.10)

(1) Certain prior period amounts have been revised to correct immaterial errors. See Note 1 for more information.

(2) Includes the three months ended March 31, 2021, which has been revised to correct immaterial errors. See Note 1 for more information.

Schedule of Potentially Dilutive Securities Excluded from the Computation of Diluted Weighted-Average Shares Outstanding


	Three Months Ended June 30,		Six Months Ended June 30,
	2021	2020	2021	2020
Stock options outstanding	5,977,050	7,742,158	5,977,050	7,742,158
Unvested restricted stock units	3,093,800	36,520	3,093,800	36,520
Total potentially dilutive securities	9,070,850	7,778,678	9,070,850	7,778,678

Share-based compensation (Tables)

6 Months Ended

Jun. 30, 2021

Share-based Payment Arrangement [Abstract]

Summary of Stock-Option Activity

The table below summarizes return target options activity for the six months ended June 30, 2021:


	Options	Weighted‑ Average Exercise Price		Weighted‑ Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (in thousands)
Outstanding, December 31, 2020	3,687,664	$	6.75	7.8	$	85,444
Granted	—	—			—
Exercised	—	—			—
Forfeitures	—	—			—
Outstanding, June 30, 2021	3,687,664	$	6.75	7.3	$	98,904
Options exercisable at June 30, 2021	—	$	—	—	$	—
Vested or expected to vest at June 30, 2021	—	$	—	—	$	—

The table below summarizes the service-based option activity for the six months ended June 30, 2021:


	Options	Weighted‑ Average Exercise Price		Weighted‑ Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (in thousands)
Outstanding, December 31, 2020	3,546,826	$	5.65	7.1	$	86,098
Granted	—	—			—
Exercised	(1,257,440)	5.62			36,219
Forfeitures	—	—			—
Outstanding, June 30, 2021	2,289,386	$	5.66	6.6	$	63,896
Options exercisable at June 30, 2021	1,524,788	$	5.49	6.4	$	42,813
Vested or expected to vest at June 30, 2021	2,289,386	$	5.66	6.6	$	63,896

Summary of Restricted Stock Units Stock Option Activity

Restricted stock unit (“RSU”) activity for the six months ended June 30, 2021 is as follows:


	Units	Per Unit Fair Value
Outstanding, December 31, 2020	1,293,107	$	26.34
Granted	1,843,500	34.79
Restrictions lapsed	—	—
Forfeited	(42,807)	26.33
Outstanding, June 30, 2021	3,093,800	$	31.38

Schedule of Stock Based Compensation

The Company recognized stock-based compensation expense as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
	(in thousands)
Cost of revenue:
Subscription	$	344	$	38	$	668	$	76
Services	75		—		152		—
Sales and marketing	1,088		111		1,930		222
Research and development	1,153		141		1,931		298
General and administrative	1,446		474		2,257		979
	$	4,106	$	764	$	6,938	$	1,575

Basis of presentation and description of business - Acquisition (Details) - Vista Equity Partners - USD ($) $ in Millions	Nov. 13, 2017	Jun. 30, 2021
Business Acquisition [Line Items]
Consideration transferred	$ 733.8
Ownership, as a percent		53.50%

Basis of presentation and description of business - Basis of Presentation and Revision Narrative (Details) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

12 Months Ended

Jun. 30, 2021

Mar. 31, 2021

Jun. 30, 2020

Jun. 30, 2021

^[2]

Jun. 30, 2020

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

$ 86,238

$ 80,727

$ 62,264

^[1]

$ 166,965

$ 122,317

^[1]

$ 269,132

$ 203,965

$ 147,384

32,617

30,167

20,781

^[1]

62,784

43,785

^[1]

98,885

73,103

53,749

Adjustments | Error in Commissions Capitalized

$ 80,718

74,482

58,600

^[1]

$ 155,200

112,804

^[1]

248,879

175,118

113,867

800

2,500

2,000

1,800

Adjustments | Subscription | Classification of on Premise Subscription Revenue

$ (800)

$ (2,500)

$ (2,000)

$ (1,800)

$ 5,800

$ 10,300

[1]	Certain prior period amounts have been revised to correct immaterial errors. See Note 1 for more information.
[2]	Includes the three months ended March 31, 2021, which has been revised to correct immaterial errors. See Note 1 for more information.

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.

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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123351226&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=123359005&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=123359005&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=123359005&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=123351226&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

Basis of presentation and description of business - Consolidated Balance Sheet (Details) - USD ($)
$ in Thousands

Jun. 30, 2021

Mar. 31, 2021

Dec. 31, 2020

Jun. 30, 2020

Mar. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

$ 226,485

^[1]

$ 196,190

$ 194,868

^[1],[2]

$ 38,424

^[2]

$ 32,375

^[2]

$ 39,240

$ 33,912

66,667

75,882

69,056

^[2]

53,275

46,571

30,854

565

632

^[2]

554

10,480

9,213

8,284

^[2]

5,993

4,621

2,128

14,432

15,009

13,283

^[2]

10,880

8,094

6,475

2,687

2,325

1,113

^[2]

6,314

3,632

1,107

321,316

299,251

287,236

^[2]

115,440

95,307

79,869

17,223

16,779

15,130

^[2]

14,044

15,195

9,549

541,850

541,480

^[2]

539,818

$ 539,818

539,818

501,145

189,021

197,504

202,878

^[2]

218,430

235,099

252,171

25,993

23,638

22,202

^[2]

16,631

13,420

7,104

28,112

28,898

5,359

^[2]

2,557

5,440

2,090

1,123,515

1,107,920

1,074,285

^[2]

906,920

904,279

851,928

9,037

5,744

6,967

^[2]

3,715

3,546

2,343

38,263

28,131

31,916

^[2]

26,441

27,269

18,903

417

1,066

713

^[2]

1,081

819

147

180,707

167,868

160,002

^[2]

129,853

119,828

85,583

228,424

202,809

199,598

^[2]

161,090

151,462

106,976

57,750

53,711

45,507

^[2]

27,429

20,621

14,442

4,306

4,285

5,087

^[2]

15,356

18,441

26,614

201,891

201,319

171,749

29,076

33,839

13,079

^[2]

9,084

11,714

464

319,556

294,644

263,271

^[2]

414,850

403,557

320,245

^[2]

^[2]

118

117

^[2]

103

917,116

909,966

903,116

^[2]

570,434

568,756

565,372

(113,275)

(96,808)

(92,219)

^[2]

(78,467)

(68,137)

(33,792)

803,959

^[2]

813,276

^[2]

811,014

^[2]

492,070

^[2]

492,140

^[2]

500,722

^[2]

531,683

565,177

$ 1,123,515

1,107,920

1,074,285

^[2]

906,920

904,279

851,928

196,190

194,868

38,424

32,433

39,240

33,912

75,882

69,056

53,275

46,513

30,854

632

554

11,155

9,959

7,270

5,553

2,526

15,009

13,283

10,880

10,935

6,682

2,325

1,113

6,314

3,133

922

301,193

288,911

116,717

98,581

80,289

16,965

12,755

11,494

12,477

9,228

541,850

541,480

539,818

501,145

197,504

202,878

218,430

235,099

252,171

28,774

26,770

20,334

16,234

8,461

28,898

5,359

2,557

2,599

2,090

1,115,184

1,078,153

909,350

904,808

853,384

5,744

6,967

3,909

3,684

2,343

28,131

31,574

26,099

26,927

18,809

1,153

713

1,081

819

147

167,868

160,443

130,309

120,089

86,220

202,896

199,697

161,398

151,519

107,519

53,711

45,507

27,429

20,621

14,442

5,475

6,422

14,913

18,133

26,384

201,891

201,319

171,749

33,839

11,046

6,876

9,338

196

295,921

262,672

412,507

400,930

320,290

118

117

103

909,966

903,116

570,434

568,756

565,372

(90,821)

(87,752)

(73,694)

(64,981)

(32,381)

819,263

815,481

496,843

496,502

503,878

533,094

565,265

1,115,184

1,078,153

909,350

904,808

853,384

(1,942)

(1,675)

(1,277)

(932)

(398)

(1,942)

(1,675)

(1,277)

(932)

(398)

(5,136)

(4,568)

(3,703)

(2,814)

(1,357)

(7,078)

(6,243)

(4,980)

(3,746)

(1,755)

(1,465)

(1,535)

(1,227)

(916)

(428)

(1,465)

(1,535)

(1,227)

(916)

(428)

(5,613)

(4,708)

(3,753)

(2,830)

(1,327)

(5,613)

(4,708)

(3,753)

(3,351)

(2,830)

(1,327)

(7,078)

(6,243)

(4,980)

(3,746)

(1,755)

(58)

(2,841)

(207)

499

185

(2,342)

(22)

(186)

2,375

2,550

2,718

321

2,841

(186)

2,375

2,550

3,217

299

(194)

(138)

342

(87)

(441)

(456)

(261)

(637)

(87)

(99)

(308)

(57)

(543)

275

200

1,670

1,224

658

2,033

2,208

2,376

268

188

2,134

3,570

3,543

383

(374)

241

(1,020)

(326)

(84)

(374)

241

(1,020)

$ (1,011)

(326)

(84)

$ (88)

$ (186)

$ 2,375

$ 2,550

$ 3,217

$ 299

[1]	Includes the three months ended March 31, 2021, which has been revised to correct immaterial errors. See Note 1 for more information.
[2]	Certain prior period amounts have been revised to correct immaterial errors. See Note 1 for more information.

Basis of presentation and description of business - Consolidated Statements of Operations (Details) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

6 Months Ended

12 Months Ended

Jun. 30, 2021

Mar. 31, 2021

Jun. 30, 2020

Jun. 30, 2021

^[2]

Jun. 30, 2020

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

$ 86,238

$ 80,727

$ 62,264

^[1]

$ 166,965

$ 122,317

^[1]

$ 269,132

$ 203,965

$ 147,384

2,860

2,777

2,678

^[1]

5,637

5,355

^[1]

10,753

10,266

8,969

19,342

17,256

13,628

^[1]

36,598

28,643

^[1]

61,008

55,962

49,318

66,896

63,471

48,636

^[1]

130,367

93,674

^[1]

208,124

148,003

98,066

32,617

30,167

20,781

^[1]

62,784

43,785

^[1]

98,885

73,103

53,749

17,203

15,626

11,949

^[1]

32,829

24,587

^[1]

52,513

42,898

31,527

27,508

16,244

6,528

^[1]

43,752

17,743

^[1]

51,603

31,509

22,444

5,623

5,627

5,634

^[1]

11,250

11,308

^[1]

22,575

22,416

21,491

82,951

67,664

44,892

^[1]

150,615

97,423

^[1]

225,576

169,926

129,211

(16,055)

(4,193)

3,744

^[1]

(20,248)

(3,749)

^[1]

(17,452)

(21,923)

(31,145)

(167)

(55)

(4,690)

^[1]

(222)

(9,468)

^[1]

(10,741)

(21,423)

(18,203)

(5,213)

(308)

(218)

(13)

^[1]

(526)

(317)

^[1]

(722)

(1,252)

(418)

^[1]

220

221

(16,530)

(4,466)

(923)

^[1]

(20,996)

(13,443)

^[1]

(34,037)

(44,378)

(49,545)

(123)

^[1]

(60)

3,113

^[1]

9,955

10,033

11,966

$ (16,467)

^[1]

$ (4,589)

$ (834)

^[1]

$ (21,056)

^[1]

$ (10,330)

^[1]

$ (24,082)

$ (34,345)

$ (37,579)

$ (0.14)

$ (0.04)

$ (0.01)

^[1]

$ (0.18)

$ (0.10)

^[1]

$ (0.22)

$ (0.33)

$ (0.37)

Weighted-average shares used to compute net loss per share, basic (in shares)

$ (0.14)

$ (0.04)

$ (0.01)

^[1]

$ (0.18)

$ (0.10)

^[1]

$ (0.22)

$ (0.33)

$ (0.37)

117,909,720

117,386,322

102,862,404

^[1]

117,649,467

102,861,475

^[1]

108,908,597

102,752,092

102,325,465

Weighted-average shares used to compute net loss per share, diluted (in shares)

117,909,720

117,386,322

102,862,404

^[1]

117,649,467

102,861,475

^[1]

108,908,597

102,752,092

102,325,465

$ 80,718

$ 74,482

$ 58,600

^[1]

$ 155,200

$ 112,804

^[1]

$ 248,879

$ 175,118

$ 113,867

13,875

12,014

8,740

^[1]

25,889

17,988

^[1]

39,529

31,457

24,099

(24,082)

Services

3,929

4,003

2,632

^[1]

7,932

6,719

^[1]

14,519

19,014

20,201

2,607

2,465

2,210

^[1]

5,072

5,300

^[1]

10,726

14,239

16,250

License

$ 1,591

2,242

1,032

^[1]

$ 3,833

2,794

^[1]

5,734

9,833

13,316

81,168

62,231

122,621

269,451

204,027

146,562

2,777

2,678

5,355

10,753

10,266

8,969

17,256

13,647

28,658

60,788

56,029

49,303

63,912

48,584

93,963

208,663

147,998

97,259

29,332

20,202

42,484

96,251

71,006

51,976

15,626

11,929

24,546

52,431

42,829

31,515

16,105

6,603

17,892

51,904

32,003

22,270

5,627

5,634

11,308

22,575

22,416

21,491

66,690

44,368

96,230

223,161

168,254

127,252

(2,778)

4,216

(2,267)

(14,498)

(20,256)

(29,993)

(55)

(4,690)

(9,468)

(10,741)

(21,423)

(18,203)

(5,213)

(171)

(13)

(317)

(722)

(1,252)

(418)

220

221

(3,004)

(451)

(11,961)

(31,083)

(42,711)

(48,393)

(65)

3,248

8,312

10,111

12,137

$ (3,069)

$ (423)

$ (8,713)

$ (22,771)

$ (32,600)

$ (36,256)

$ (0.03)

$ (0.00)

$ (0.08)

$ (0.21)

$ (0.32)

$ (0.35)

Weighted-average shares used to compute net loss per share, basic (in shares)

$ (0.03)

$ (0.00)

$ (0.08)

$ (0.21)

$ (0.32)

$ (0.35)

117,386,322

102,862,404

102,861,475

108,908,597

102,752,092

102,325,465

Weighted-average shares used to compute net loss per share, diluted (in shares)

117,386,322

102,862,404

102,861,475

108,908,597

102,752,092

102,325,465

As Previously Reported | Subscription

$ 74,923

$ 58,748

$ 113,366

$ 249,192

$ 175,189

$ 113,040

12,014

8,762

18,010

39,323

31,539

24,088

As Previously Reported | Services

(22,771)

4,003

2,451

6,461

14,525

19,008

20,206

As Previously Reported | License

2,465

2,207

5,293

10,712

14,224

16,246

2,242

1,032

2,794

5,734

9,830

13,316

835

544

1,234

2,497

1,991

1,755

835

544

1,234

2,497

1,991

1,755

(835)

(544)

(1,234)

(2,497)

(1,991)

(1,755)

(835)

(544)

(1,234)

(2,497)

(1,991)

(1,755)

(70)

142

311

619

488

428

Adjustments | Commissions | Subscription

(905)

(402)

(923)

(1,878)

(1,503)

(1,327)

Adjustments | Commissions | Services

(1,878)

Adjustments | Commissions | License

(441)

(304)

(319)

(62)

822

(19)

(15)

220

(67)

(441)

(289)

(539)

807

137

106

139

(75)

(149)

(301)

(494)

174

139

(20)

(41)

(82)

(319)

204

(580)

(248)

(457)

324

603

(47)

(627)

(248)

(457)

324

603

(81)

(446)

1,024

(566)

(599)

Adjustments | Other | Subscription

(615)

(9)

(694)

567

(242)

(441)

(148)

(562)

(313)

(71)

827

(22)

206

(82)

Adjustments | Other | Services

567

181

258

(6)

(5)

Adjustments | Other | License

Increase (Decrease) in Stockholders' Equity [Roll Forward]

$ 0

$ 3

$ 0

[1]	Certain prior period amounts have been revised to correct immaterial errors. See Note 1 for more information.
[2]	Includes the three months ended March 31, 2021, which has been revised to correct immaterial errors. See Note 1 for more information.

Basis of presentation and description of business - Consolidated Statements of Stockholders' Equity (Details) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

12 Months Ended

Jun. 30, 2021

Mar. 31, 2021

Jun. 30, 2020

Jun. 30, 2021

Jun. 30, 2020

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

$ 813,276

^[1]

$ 811,014

^[1]

$ 492,140

^[1]

$ 811,014

^[1]

$ 500,722

^[1]

$ 500,722

^[1]

$ 531,683

$ 565,177

3,044

^[1]

4,019

7,063

^[1]

103

^[1]

2,985

923

1,770

4,106

^[1]

2,832

764

^[1]

6,938

^[1]

1,575

^[1]

6,743

2,461

2,315

(16,467)

^[1]

(4,589)

(834)

^[1]

(21,056)

^[1],[2]

(10,330)

^[1]

(24,082)

(34,345)

(37,579)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

$ 803,959

^[1]

$ 813,276

^[1]

$ 492,070

^[1]

$ 803,959

^[1]

$ 492,070

^[1]

811,014

^[1]

$ 500,722

^[1]

$ 531,683

IPO

Increase (Decrease) in Stockholders' Equity [Roll Forward]

322,413

Private placement

Increase (Decrease) in Stockholders' Equity [Roll Forward]

$ 2,233

Common Stock

117,705,895

116,992,472

102,862,404

116,992,472

102,843,612

102,649,701

102,300,010

$ 118

$ 117

$ 103

$ 117

$ 103

$ 102

544,017

713,423

1,257,440

18,792

526,460

168,391

322,851

Vesting of restricted stock units (in shares)

$ 1

$ 0

$ 1

36,520

25,520

26,840

118,249,912

117,705,895

102,862,404

118,249,912

102,862,404

116,992,472

102,843,612

102,649,701

Increase (Decrease) in Stockholders' Equity [Roll Forward]

$ 118

$ 103

$ 118

$ 103

$ 117

$ 103

Common Stock | IPO

13,500,000

Common Stock | Private placement

$ 14

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Additional Paid‑In Capital

85,880

Increase (Decrease) in Stockholders' Equity [Roll Forward]

909,966

903,116

569,670

903,116

568,756

$ 568,756

565,372

561,288

3,044

4,018

7,062

103

2,985

923

1,769

4,106

2,832

764

6,938

1,575

6,743

2,461

2,315

Additional Paid‑In Capital | IPO

917,116

909,966

570,434

917,116

570,434

903,116

568,756

565,372

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Additional Paid‑In Capital | Private placement

322,399

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Increase (Decrease) in Stockholders' Equity [Roll Forward]

2,233

Accumulated Deficit

(96,808)

^[1]

(92,219)

^[1]

(77,633)

^[1]

(92,219)

^[1]

(68,137)

^[1]

(68,137)

^[1]

(33,792)

3,787

(16,467)

^[1]

(4,589)

(834)

^[1]

(21,056)

^[1]

(10,330)

^[1]

(24,082)

(34,345)

(37,579)

(113,275)

^[1]

(96,808)

^[1]

(78,467)

^[1]

(113,275)

^[1]

(78,467)

^[1]

(92,219)

^[1]

(68,137)

^[1]

(33,792)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

$ 819,263

815,481

496,502

$ 815,481

503,878

533,094

565,265

4,019

103

2,985

923

1,770

2,832

764

1,575

6,743

2,461

2,315

(3,069)

(423)

(8,713)

(22,771)

(32,600)

(36,256)

As Previously Reported | IPO

$ 819,263

$ 496,843

815,481

$ 503,878

$ 533,094

Increase (Decrease) in Stockholders' Equity [Roll Forward]

As Previously Reported | Private placement

322,413

Increase (Decrease) in Stockholders' Equity [Roll Forward]

As Previously Reported | Common Stock

$ 2,233

Increase (Decrease) in Stockholders' Equity [Roll Forward]

117,705,895

116,992,472

102,862,404

116,992,472

102,843,612

102,649,701

102,300,010

$ 118

$ 117

$ 103

$ 117

$ 103

$ 102

713,423

18,792

526,460

168,391

322,851

Vesting of restricted stock units (in shares)

$ 1

$ 0

$ 1

36,520

25,520

26,840

117,705,895

102,862,404

116,992,472

102,843,612

102,649,701

As Previously Reported | Common Stock | IPO

$ 118

$ 103

$ 117

$ 103

Increase (Decrease) in Stockholders' Equity [Roll Forward]

13,500,000

As Previously Reported | Common Stock | Private placement

$ 14

Increase (Decrease) in Stockholders' Equity [Roll Forward]

As Previously Reported | Additional Paid‑In Capital

85,880

Increase (Decrease) in Stockholders' Equity [Roll Forward]

909,966

903,116

569,670

903,116

568,756

$ 568,756

565,372

561,288

4,018

103

2,985

923

1,769

2,832

764

1,575

6,743

2,461

2,315

As Previously Reported | Additional Paid‑In Capital | IPO

909,966

570,434

903,116

568,756

565,372

Increase (Decrease) in Stockholders' Equity [Roll Forward]

As Previously Reported | Additional Paid‑In Capital | Private placement

322,399

Increase (Decrease) in Stockholders' Equity [Roll Forward]

As Previously Reported | Accumulated Deficit

2,233

Increase (Decrease) in Stockholders' Equity [Roll Forward]

(90,821)

(87,752)

(73,271)

(87,752)

(64,981)

(32,381)

3,875

(3,069)

(423)

(8,713)

(22,771)

(32,600)

(36,256)

(90,821)

(73,694)

(87,752)

(64,981)

(32,381)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

(5,613)

(4,708)

(3,351)

(4,708)

(2,830)

(1,327)

(905)

(402)

(923)

(1,878)

(1,503)

(1,327)

Adjustments | Commissions | IPO

(5,613)

(3,753)

(4,708)

(2,830)

(1,327)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Adjustments | Commissions | Private placement

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Increase (Decrease) in Stockholders' Equity [Roll Forward]

$ (374)

241

(1,011)

$ 241

(326)

(84)

(88)

(615)

(9)

(694)

567

(242)

Adjustments | Other | IPO

$ (374)

$ (1,020)

241

$ (326)

$ (84)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Adjustments | Other | Private placement

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Adjustments | Common Stock | Commissions

$ 0

Increase (Decrease) in Stockholders' Equity [Roll Forward]

$ 0

$ 0

Adjustments | Common Stock | Other

Increase (Decrease) in Stockholders' Equity [Roll Forward]

$ 0

$ 0

Adjustments | Additional Paid‑In Capital | Commissions

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Adjustments | Additional Paid‑In Capital | Other

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Adjustments | Accumulated Deficit | Commissions

Increase (Decrease) in Stockholders' Equity [Roll Forward]

(5,613)

(4,708)

(3,351)

(4,708)

(2,830)

(1,327)

(905)

(402)

(923)

(1,878)

(1,503)

(1,327)

Adjustments | Accumulated Deficit | Other

(5,613)

(3,753)

(4,708)

(2,830)

(1,327)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

$ (374)

241

(1,011)

$ 241

(326)

(84)

(88)

(615)

(9)

(694)

567

(242)

$ (374)

$ (1,020)

$ 241

$ (326)

$ (84)

[1]	Certain prior period amounts have been revised to correct immaterial errors. See Note 1 for more information.
[2]	Includes the three months ended March 31, 2021, which has been revised to correct immaterial errors. See Note 1 for more information.

Basis of presentation and description of business - Consolidated Statement of Cash Flows (Details) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

12 Months Ended

Jun. 30, 2021

Mar. 31, 2021

Jun. 30, 2020

Jun. 30, 2021

Jun. 30, 2020

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Adjustments to reconcile net loss to cash provided by operating activities:

$ (16,467)

^[1]

$ (4,589)

$ (834)

^[1]

$ (21,056)

^[1],[2]

$ (10,330)

^[1]

$ (24,082)

$ (34,345)

$ (37,579)

9,784

19,538

^[2]

19,170

^[1]

38,511

37,082

33,962

2,700

5,861

^[2]

3,452

^[1]

7,953

5,236

2,864

249

^[2]

571

^[1]

773

1,120

513

1,267

2,398

^[2]

^[1]

Loss on disposal of equipment and leasehold improvements

159

(41)

^[2]

812

^[1]

1,024

279

5,213

2,832

6,938

^[2]

1,575

^[1]

6,743

2,461

2,315

(613)

(669)

^[2]

(3,082)

^[1]

(10,318)

(11,169)

(12,379)

300

4,237

^[2]

(3,700)

^[1]

(1,000)

200

201

454

^[2]

(156)

^[1]

(490)

292

(34)

(7,066)

2,249

^[2]

(7,316)

^[1]

(23,112)

(14,799)

(3,353)

376

(238)

^[2]

(278)

^[1]

(766)

559

(977)

(3,317)

(2,986)

^[2]

928

^[1]

(3,620)

(5,106)

(2,557)

(5,065)

(11,848)

^[2]

(8,035)

^[1]

(20,398)

(14,045)

(10,940)

Deferred taxes

(1,191)

2,284

^[2]

202

^[1]

4,026

1,000

(313)

(7,683)

(1,889)

^[2]

(2,371)

^[1]

5,501

6,349

6,001

15,913

32,627

^[2]

16,833

^[1]

64,945

37,374

31,839

(54)

(86)

^[2]

1,240

^[1]

1,898

(58)

(39)

4,023

38,022

^[2]

9,515

^[1]

52,801

11,846

9,360

(3,041)

^[2]

^[1]

(2,512)

(40,173)

(2,893)

Proceeds from sale of equipment and leasehold improvements

(3,290)

(5,211)

^[2]

(1,366)

^[1]

(4,368)

(7,190)

(2,909)

^[2]

^[1]

(6,319)

(8,230)

^[2]

(1,366)

^[1]

(6,876)

(47,363)

(5,802)

40,000

(530)

^[2]

^[1]

(1,264)

(1,550)

(205,000)

(10,000)

(2,050)

326,316

(243)

^[2]

(2,203)

^[1]

(7,256)

(721)

2,233

Net cash provided by (used in) financing activities

4,019

7,063

^[2]

103

^[1]

2,985

923

1,770

4,019

2,084

^[2]

(2,100)

^[1]

115,964

28,652

1,770

Effect of exchange rate changes on cash and cash equivalents

(401)

(259)

^[2]

^[1]

604

1,322

31,617

^[2]

6,049

^[1]

162,493

(6,865)

5,328

196,190

194,868

^[1],[2]

194,868

^[1],[2]

32,375

^[1]

32,375

^[1]

39,240

33,912

Supplemental disclosures of cash flow information:

226,485

^[2]

196,190

38,424

^[1]

226,485

^[2]

38,424

^[1]

194,868

^[1],[2]

32,375

^[1]

39,240

^[2]

9,262

^[1]

12,649

20,693

17,835

351

832

^[2]

411

^[1]

1,394

596

1,461

(19)

300

^[2]

2,865

^[1]

Leasehold improvements acquired through lease incentives

2,672

369

Adjustments to reconcile net loss to cash provided by operating activities:

(3,069)

(423)

(8,713)

(22,771)

(32,600)

(36,256)

9,784

19,002

38,168

36,807

33,914

3,296

4,218

9,647

6,250

3,391

571

773

1,120

513

1,267

Loss on disposal of equipment and leasehold improvements

159

812

1,024

279

(12)

(29)

(17)

5,213

2,832

1,575

6,743

2,461

2,315

(758)

(3,217)

(8,675)

(11,247)

(12,550)

300

(3,700)

(1,000)

200

(263)

(7,066)

(7,374)

(23,170)

(14,741)

(3,353)

463

(278)

(766)

559

(977)

(3,317)

429

(4,119)

(4,585)

(2,555)

(6,496)

(10,035)

(24,589)

(17,050)

(13,222)

Deferred taxes

145

(1,191)

258

3,888

1,138

(313)

(7,694)

(2,371)

5,501

6,390

5,965

15,472

17,028

65,125

36,998

32,476

(90)

1,240

1,898

(58)

(39)

4,023

9,457

52,743

11,904

9,360

(3,041)

(2,512)

(40,173)

(2,893)

Proceeds from sale of equipment and leasehold improvements

(3,290)

(1,366)

(4,368)

(7,190)

(2,909)

(6,319)

(1,366)

(6,876)

(47,363)

(5,802)

40,000

(1,264)

(1,550)

(205,000)

(10,000)

(2,050)

326,316

(2,203)

(7,256)

(721)

2,233

Net cash provided by (used in) financing activities

4,019

103

2,985

923

1,770

4,019

(2,100)

115,964

28,652

1,770

Effect of exchange rate changes on cash and cash equivalents

(401)

604

1,322

5,991

162,435

(6,807)

5,328

196,190

194,868

32,433

39,240

33,912

Supplemental disclosures of cash flow information:

196,190

38,424

194,868

32,433

39,240

9,262

12,649

20,693

17,835

351

411

1,394

596

1,461

(19)

2,865

Leasehold improvements acquired through lease incentives

Adjustments to reconcile net loss to cash provided by operating activities:

(905)

(402)

(923)

(1,878)

(1,503)

(1,327)

(596)

(766)

(1,694)

(1,014)

(527)

Loss on disposal of equipment and leasehold improvements

(311)

(619)

(488)

(428)

1,431

2,000

4,191

3,005

2,282

Proceeds from sale of equipment and leasehold improvements

Net cash provided by (used in) financing activities

Effect of exchange rate changes on cash and cash equivalents

Supplemental disclosures of cash flow information:

Leasehold improvements acquired through lease incentives

Adjustments to reconcile net loss to cash provided by operating activities:

(615)

(9)

(694)

567

(242)

168

343

275

Loss on disposal of equipment and leasehold improvements

(14)

446

(1,024)

566

599

139

(156)

(227)

292

(34)

(58)

(87)

499

(521)

(2)

Deferred taxes

(145)

(56)

138

(138)

(41)

441

(195)

(180)

376

(637)

(58)

Proceeds from sale of equipment and leasehold improvements

Net cash provided by (used in) financing activities

Effect of exchange rate changes on cash and cash equivalents

(58)

$ 0

(58)

Supplemental disclosures of cash flow information:

$ 0

(58)

$ 0

$ 0

Leasehold improvements acquired through lease incentives

$ 2,672

$ 369

[1]	Certain prior period amounts have been revised to correct immaterial errors. See Note 1 for more information.
[2]	Includes the three months ended March 31, 2021, which has been revised to correct immaterial errors. See Note 1 for more information.

Basis of presentation and description of business - Segment and Geographic Information (Details)
$ in Thousands

3 Months Ended

6 Months Ended

12 Months Ended

Jun. 30, 2021

USD ($)

Mar. 31, 2021

USD ($)

Jun. 30, 2020

USD ($)

Jun. 30, 2021

USD ($)

segment

Jun. 30, 2020

USD ($)

Dec. 31, 2020

USD ($)

Dec. 31, 2019

USD ($)

Dec. 31, 2018

USD ($)

Number of operating segment | segment

Number of reportable segment | segment

$ 86,238

$ 80,727

$ 62,264

^[1]

$ 166,965

^[2]

$ 122,317

^[1]

$ 269,132

$ 203,965

$ 147,384

The Americas

Europe, the Middle East, India, and Africa

64,726

48,145

125,543

95,016

15,655

10,631

30,178

20,561

Asia Pacific

$ 5,857

$ 3,488

$ 11,244

$ 6,740

[1]	Certain prior period amounts have been revised to correct immaterial errors. See Note 1 for more information.
[2]	Includes the three months ended March 31, 2021, which has been revised to correct immaterial errors. See Note 1 for more information.

Summary of significant accounting policies - Disaggregation of Revenue (Details) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

12 Months Ended

Jun. 30, 2021

Mar. 31, 2021

Jun. 30, 2020

Jun. 30, 2021

Jun. 30, 2020

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

$ 86,238

$ 80,727

$ 62,264

^[1]

$ 166,965

^[2]

$ 122,317

^[1]

$ 269,132

$ 203,965

$ 147,384

SaaS subscription and support and maintenance

80,718

74,482

58,600

^[1]

155,200

^[2]

112,804

^[1]

248,879

175,118

113,867

72,121

52,830

138,897

102,494

On‑premise subscription

8,597

5,770

16,303

10,310

Non‑subscription revenue

5,520

3,664

11,765

9,513

Professional services

3,929

4,003

2,632

^[1]

7,932

^[2]

6,719

^[1]

14,519

19,014

20,201

Perpetual licenses

$ 1,591

$ 2,242

$ 1,032

^[1]

$ 3,833

^[2]

$ 2,794

^[1]

$ 5,734

$ 9,833

$ 13,316

[1]	Certain prior period amounts have been revised to correct immaterial errors. See Note 1 for more information.
[2]	Includes the three months ended March 31, 2021, which has been revised to correct immaterial errors. See Note 1 for more information.

Total amortization of contract costs

Summary of significant accounting policies - Contract Balances (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Accounting Policies [Abstract]
Contract with customer, asset	$ 1,600		$ 1,600		$ 900
Contract With Customer, Liability [Roll Forward]
Balance, beginning of the period	221,579	$ 145,312	205,509	$ 140,449
Revenue earned	(66,967)	(49,393)	(111,398)	(91,395)
Deferral of revenue	83,845	61,363	144,346	108,228
Balance, end of the period	$ 238,457	$ 157,282	$ 238,457	$ 157,282

Summary of significant accounting policies - Remaining Performance Obligations (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 270.6	$ 224.1
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percent	79.00%
Remaining performance obligation, period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percent		80.00%
Remaining performance obligation, period		3 years

Summary of significant accounting policies - Deferred Contract Costs (Details) - USD ($)

3 Months Ended

6 Months Ended

Jun. 30, 2021

Jun. 30, 2020

Jun. 30, 2021

Jun. 30, 2020

Mar. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Concentration Risk [Line Items]

$ 3,200,000

$ 1,800,000

$ 5,900,000

$ 3,500,000

Impairment losses

Accounts Receivable | Credit Concentration Risk

66,667,000

$ 53,275,000

66,667,000

$ 53,275,000

$ 75,882,000

$ 69,056,000

^[1]

$ 46,571,000

$ 30,854,000

Concentration Risk [Line Items]

Accounts Receivable | Credit Concentration Risk | Two Distributors

$ 14,900,000

Concentration Risk [Line Items]

$ 19,800,000

[1]	Certain prior period amounts have been revised to correct immaterial errors. See Note 1 for more information.

Summary of significant accounting policies - Recent Pronouncements (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jan. 01, 2021
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease assets	$ 22,737
Operating lease liabilities - non-current	$ 22,063
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease assets		$ 25,000
Operating lease liabilities - non-current		$ 28,600

Financial instruments fair value (Details) - Fair Value, Recurring - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents	$ 50,018	$ 125,000
Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents	50,018	100,000
U.S. Treasuries
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents		25,000
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents	50,018	125,000
Level 1 \| Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents	50,018	100,000
Level 1 \| U.S. Treasuries
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents		25,000
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents	0	0
Level 2 \| Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents	0	0
Level 2 \| U.S. Treasuries
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents		0
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents	0	0
Level 3 \| Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents	$ 0	0
Level 3 \| U.S. Treasuries
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents		$ 0

Acquisitions - cmdReporter (Details) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

12 Months Ended

Feb. 26, 2021

Jun. 30, 2021

Mar. 31, 2021

Jun. 30, 2021

Jun. 30, 2020

^[2]

Dec. 31, 2020

Dec. 31, 2019

Increase (decrease) in fair value of contingent consideration

$ 300

$ 4,237

^[1]

$ (3,700)

$ (1,000)

$ 200

Developed technology

Weighted-average economic life of intangible assets acquired

5 years

cmdReporter

Consideration transferred

$ 3,400

Contingent consideration, liability

$ 400

$ 0

Measurement period

90 days

Contingent consideration earned

300

Increase (decrease) in fair value of contingent consideration

(100)

Acquisition-related expenses

$ 0

$ 100

[1]	Includes the three months ended March 31, 2021, which has been revised to correct immaterial errors. See Note 1 for more information.
[2]	Certain prior period amounts have been revised to correct immaterial errors. See Note 1 for more information.

Acquisitions - Schedule of Acquisitions (Details) - USD ($)
$ in Thousands

Feb. 26, 2021

Jun. 30, 2021

Mar. 31, 2021

Dec. 31, 2020

^[1]

Jun. 30, 2020

Mar. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Intangible assets acquired:

$ 541,850

$ 541,480

$ 539,818

$ 501,145

cmdReporter

Final aggregate purchase price

Cash consideration

$ 3,041

Contingent consideration

359

3,400

Intangible assets acquired:

Developed technology

2,630

IPR&D

400

Total purchase consideration

370

$ 3,400

[1]	Certain prior period amounts have been revised to correct immaterial errors. See Note 1 for more information.

Acquisitions - Digita Security LLC (Details) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

12 Months Ended

Jun. 30, 2021

Mar. 31, 2021

Jun. 30, 2021

Jun. 30, 2020

^[2]

Dec. 31, 2020

Dec. 31, 2019

Increase (decrease) in fair value of contingent consideration

$ 300

$ 4,237

^[1]

$ (3,700)

$ (1,000)

$ 200

Digita Security LLC

Maximum contingent consideration

$ 15,000

Cash consideration

$ 4,200

Increase (decrease) in fair value of contingent consideration

4,000

4,300

Contingent consideration recognized

8,300

$ 8,200

Digita Security LLC | Accrued Liabilities

Contingent consideration recognized

3,400

Digita Security LLC | Other Liabilities

Contingent consideration recognized

$ 4,900

[1]	Includes the three months ended March 31, 2021, which has been revised to correct immaterial errors. See Note 1 for more information.
[2]	Certain prior period amounts have been revised to correct immaterial errors. See Note 1 for more information.

Goodwill and other intangible assets - Goodwill (Details) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Jun. 30, 2021

Jun. 30, 2020

Jun. 30, 2021

Jun. 30, 2020

Goodwill [Roll Forward]

Goodwill, Beginning Balance

$ 541,850

$ 539,818

$ 541,480

^[1]

$ 539,818

Goodwill acquired

370

Goodwill, Ending Balance

$ 541,850

$ 539,818

$ 541,850

$ 539,818

[1]	Certain prior period amounts have been revised to correct immaterial errors. See Note 1 for more information.

Goodwill and other intangible assets - Intangible Assets (Details) - USD ($)

3 Months Ended

6 Months Ended

9 Months Ended

Jun. 30, 2021

Jun. 30, 2020

Jun. 30, 2021

Jun. 30, 2020

Sep. 30, 2020

Mar. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

$ 303,401,000

$ 117,370,000

100,523,000

202,878,000

Intangible Assets, Net (Excluding Goodwill) [Abstract]

8,500,000

$ 8,300,000

16,900,000

$ 16,700,000

306,391,000

Goodwill and Intangible Asset Impairment

189,021,000

218,430,000

189,021,000

218,430,000

$ 197,504,000

202,878,000

^[1]

$ 235,099,000

$ 252,171,000

$ 0

IPR&D

Indefinite-lived Intangible Assets [Line Items]

Indefinite-Lived Intangible Assets

400,000

$ 400,000

Trademarks

8 years

34,300,000

$ 34,300,000

34,320,000

15,578,000

13,454,000

18,722,000

$ 18,722,000

20,866,000

4 years 3 months 18 days

4 years 9 months 18 days

Customer relationships

214,408,000

$ 214,408,000

214,428,000

64,893,000

55,810,000

149,515,000

$ 149,515,000

158,618,000

Customer relationships | Minimum

8 years 2 months 12 days

8 years 8 months 12 days

Customer relationships | Maximum

2 years

12 years

Developed technology

5 years

57,193,000

$ 57,193,000

54,563,000

36,809,000

31,173,000

20,384,000

$ 20,384,000

23,390,000

2 years 2 months 12 days

2 years 3 months 18 days

Non-competes

2 years

90,000

$ 90,000

90,000

90,000

86,000

$ 0

$ 4,000

0 years

1 month 6 days

[1]	Certain prior period amounts have been revised to correct immaterial errors. See Note 1 for more information.

Leases - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Leases - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Lessee, Lease, Description [Line Items]
Lessee, operating lease, renewal term (up to)	10 years		10 years
Lessee, finance lease, term of contract	4 years		4 years
Operating lease, weighted average remaining lease term	6 years 4 months 24 days		6 years 4 months 24 days
Operating lease, weighted average discount rate, percent	3.50%		3.50%
Operating lease cost	$ 1,369	$ 1,200	$ 2,883	$ 2,500
Operating lease, payments			2,600
Affiliated Entity
Lessee, Lease, Description [Line Items]
Operating lease cost	$ 200	$ 300	$ 500	$ 500
Minimum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, term of contract	1 year		1 year
Maximum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, term of contract	9 years		9 years

Leases - Supplemental Balance Sheet Information (Details) $ in Thousands	Jun. 30, 2021 USD ($)
Assets
Operating lease assets	$ 22,737
Liabilities
Operating lease liabilities - current	4,826
Operating lease liabilities - non-current	22,063
Total operating lease liabilities	$ 26,889
Operating lease, right-of-use asset, statement of financial position	us-gaap:OtherAssets
Operating lease, liability, current, statement of financial position	us-gaap:AccountsPayableAndAccruedLiabilitiesCurrent
Operating lease, liability, noncurrent, statement of financial position	Other liabilities

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Leases [Abstract]
Operating lease cost	$ 1,369	$ 1,200	$ 2,883	$ 2,500
Short-term lease cost	52		104
Variable lease cost	441		880
Total lease expense	$ 1,862		$ 3,867

Leases - Maturities of Operating Lease Liabilities (Details) $ in Thousands	Jun. 30, 2021 USD ($)
Leases [Abstract]
2021 (remaining six months)	$ 2,887
2022	5,422
2023	5,347
2024	4,596
2025	2,519
Thereafter	9,482
Total lease payments	30,253
Less: imputed interest	3,364
Total present value of lease liabilities	$ 26,889

Debt (Details) - Line of Credit - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Jul. 27, 2020	Jul. 26, 2020
Debt Instrument [Line Items]
Debt issuance costs	$ 0.7		$ 1.3
Debt issuance costs in other assets	1.6	$ 1.1
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 150.0	$ 15.0
Letter of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity				25.0
Debt outstanding	$ 1.0	$ 1.0
Foreign Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity				50.0
Term Loan
Debt Instrument [Line Items]
Maximum borrowing capacity					$ 205.0
Minimum \| Term Loan
Debt Instrument [Line Items]
Maximum borrowing capacity per incremental loan				$ 5.0

Commitments and Contingencies (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Material liabilities for contingencies	$ 4,200,000	$ 0
Estimated loss	$ 2,300,000

Net loss per share - Schedule of Computation (Details) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

6 Months Ended

12 Months Ended

Jun. 30, 2021

Mar. 31, 2021

Jun. 30, 2020

^[1]

Jun. 30, 2021

^[2]

Jun. 30, 2020

^[1]

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Numerator:

Weighted-average shares used to compute net loss per share, basic (in shares)

$ (16,467)

^[1]

$ (4,589)

$ (834)

$ (21,056)

^[1]

$ (10,330)

$ (24,082)

$ (34,345)

$ (37,579)

Denominator:

117,909,720

117,386,322

102,862,404

117,649,467

102,861,475

108,908,597

102,752,092

102,325,465

Weighted-average shares used to compute net loss per share, diluted (in shares)

117,909,720

117,386,322

102,862,404

117,649,467

102,861,475

108,908,597

102,752,092

102,325,465

$ (0.14)

$ (0.04)

$ (0.01)

$ (0.18)

$ (0.10)

$ (0.22)

$ (0.33)

$ (0.37)

$ (0.14)

$ (0.04)

$ (0.01)

$ (0.18)

$ (0.10)

$ (0.22)

$ (0.33)

$ (0.37)

[1]	Certain prior period amounts have been revised to correct immaterial errors. See Note 1 for more information.
[2]	Includes the three months ended March 31, 2021, which has been revised to correct immaterial errors. See Note 1 for more information.

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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