0001564590-21-009501 | 10-K | XBRL Viewer

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
Document and Entity Information - USD ($) $ in Billions	Dec. 31, 2020	Feb. 24, 2021
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2020
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Entity Registrant Name	BigCommerce Holdings, Inc.
Entity Central Index Key	0001626450
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity File Number	001-39423
Entity Tax Identification Number	46-2707656
Entity Address, Address Line One	11305 Four Points Drive Building II, 3rd Floor
Entity Address, City or Town	Austin
Entity Address, State or Province	TX
Entity Interactive Data Current	Yes
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Address, Postal Zip Code	78726
City Area Code	512
Local Phone Number	865-4500
Entity Incorporation, State or Country Code	DE
Title of 12(b) Security	Series 1 common stock, $0.0001 par value per share
Trading Symbol	BIGC
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		68,528,926
Entity Public Float		$ 4.6
ICFR Auditor Attestation Flag	false
Documents Incorporated by Reference	Part III of this Annual Report on Form 10-K incorporates certain information by reference from the definitive proxy statement for the Registrant's 2021 annual meeting of stockholders to be filed within 120 days of the registrant's fiscal year ended December 31, 2020, or the Proxy Statement. Except with respect to information specifically incorporated by reference in this Annual Report on Form 10-K, the Proxy Statement is not deemed to be filed as part of this Annual Report on Form 10-K.

Consolidated balance sheets - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets
Cash and cash equivalents	$ 219,447	$ 7,795
Restricted cash	1,160	1,355
Accounts receivable, net	22,894	15,548
Prepaid expenses and other assets	8,000	5,296
Deferred commissions	2,571	1,677
Total current assets	254,072	31,671
Property and equipment, net	7,122	8,241
Right-of-use-asset	11,842	14,065
Deferred commissions, net of current portion	3,590	2,087
Total assets	276,626	56,064
Current liabilities
Accounts payable	5,788	3,881
Accrued liabilities	3,344	5,849
Deferred revenue	11,406	9,399
Current portion of long-term debt		2,363
Current portion of operating lease liabilities	3,173	2,718
Other current liabilities	22,176	9,704
Total current liabilities	45,887	33,914
Deferred revenue, net of current portion	1,308	1,492
Long-term debt, net of current portion		38,502
Operating lease liabilities, net of current portion	12,672	15,705
Total liabilities	59,867	89,613
Commitments and contingencies (Note 6)
Stockholders’ equity (deficit)
Common stock, $0.0001 par value; 500,000 shares Series 1 and, 5,051 shares Series 2 authorized at December 31, 2020 and 200,000 shares voting and 30,000 shares of non-voting authorized at December 31, 2019; 65,406, and 18,544 shares Series 1 and voting issued and, outstanding at December 31, 2020 2020 and December 31, 2019, respectively, and 4,106 and 0 shares Series 2 and non-voting issued and, outstanding at December 31, 2020, and December 31, 2019, respectively.	7	2
Additional paid-in capital	530,143	17,244
Accumulated deficit	(313,391)	(274,549)
Total stockholders’ equity (deficit)	216,759	(257,303)
Total liabilities, convertible preferred stock, and stockholders’ equity (deficit)	$ 276,626	56,064
Convertible Preferred Stock
Convertible preferred stock
Convertible preferred stock $0.0001 par value; 10,000 and 102,030 shares authorized at December 31, 2020 and December 31, 2019, respectively; 0 shares and 102,030 shares issued and outstanding at December 31, 2020 and 2019, respectively.		$ 223,754

Consolidated balance sheets (Parenthetical) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Common stock, par value	$ 0.0001	$ 0.0001
Convertible Preferred Stock
Convertible preferred stock, par value	$ 0.0001	$ 0.0001
Convertible preferred stock, shares authorized	10,000,000	102,030,000
Convertible preferred stock, shares issued	0	102,030,000
Convertible preferred stock, shares outstanding	0	102,030,000
Series 1 Common Stock
Common stock, shares authorized	500,000,000
Common stock, shares issued	65,406,000
Common stock, shares outstanding	65,406,000
Voting Common Stock
Common stock, shares authorized		200,000,000
Common stock, shares issued		18,544,000
Common stock, shares outstanding		18,544,000
Series 2 Common Stock
Common stock, shares authorized	5,051,000
Common stock, shares issued	4,106,000
Common stock, shares outstanding	4,106,000
Non-voting Common Stock
Common stock, shares authorized		30,000,000
Common stock, shares issued		0
Common stock, shares outstanding		0

Consolidated statements of operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
Revenue	$ 43,143	$ 39,735	$ 36,316	$ 33,174	$ 31,020	$ 28,264	$ 27,235	$ 25,584	$ 152,368	$ 112,103	$ 91,867
Cost of revenue	10,216	8,593	7,837	7,480	8,065	6,806	6,227	5,925	34,126	27,023	21,937
Gross profit	32,927	31,142	28,479	25,694	22,955	21,458	21,008	19,659	118,242	85,080	69,930
Operating expenses:
Sales and marketing	20,577	19,328	16,803	15,762	15,295	15,346	15,963	14,136	72,470	60,740	45,928
Research and development	13,942	12,124	11,345	10,921	10,961	10,862	10,468	10,832	48,332	43,123	42,485
General and administrative	12,212	9,745	7,714	6,466	6,456	5,527	5,222	4,999	36,137	22,204	19,497
Total operating expenses	46,731	41,197	35,862	33,149	32,712	31,735	31,653	29,967	156,939	126,067	107,910
Loss from operations	(13,804)	(10,055)	(7,383)	(7,455)	(9,757)	(10,277)	(10,645)	(10,308)	(38,697)	(40,987)	(37,980)
Interest income	11	2	17	1		4	86	155	31	245	653
Interest expense	(448)	(741)	(1,152)	(762)	(483)	(359)	(410)	(360)	(3,103)	(1,612)	(1,489)
Change in fair value of financial instruments				4,413					4,413
Other expense	59	(75)	40	(203)	(45)	(86)	(56)	(21)	(179)	(208)	(52)
Loss before provision for income taxes	(14,182)	(10,869)	(8,478)	(4,006)	(10,285)	(10,718)	(11,025)	(10,534)	(37,535)	(42,562)	(38,868)
Provision for income taxes	19	(14)	3	17	7	7	7	7	25	28	10
Net loss	(14,201)	(10,855)	(8,481)	(4,023)	(10,292)	(10,725)	(11,032)	(10,541)	(37,560)	(42,590)	(38,878)
Cumulative dividends and accretion of issuance costs on Series F preferred stock		2,732	(1,953)	(1,745)	(1,909)	(1,865)	(1,798)	(1,736)	(962)	(7,308)	(4,712)
Net loss attributable to common stockholders	$ (14,201)	$ (8,123)	$ (10,434)	$ (5,768)	$ (12,201)	$ (12,590)	$ (12,830)	$ (12,277)	$ (38,522)	$ (49,898)	$ (43,590)
Basic and diluted net loss per share attributable to common stockholders	$ (0.21)	$ (0.16)	$ (0.54)	$ (0.31)	$ (0.67)	$ (0.70)	$ (0.73)	$ (0.70)	$ (0.99)	$ (2.80)	$ (2.59)
Weighted average shares used to compute basic and diluted net loss per share attributable to common stockholders	68,638	49,355	19,149	18,645	18,286	17,959	17,592	17,487	39,092	17,834	16,807

Consolidated statements of comprehensive loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement Of Income And Comprehensive Income [Abstract]
Net loss	$ (37,560)	$ (42,590)	$ (38,878)
Other comprehensive income (loss):
Net unrealized gain (loss) on marketable debt securities		14	(14)
Total comprehensive loss	$ (37,560)	$ (42,576)	$ (38,892)

- Definition

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

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+ Details

Consolidated statements of convertible preferred stock and stockholders' equity (deficit) - USD ($) shares in Thousands, $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Convertible Preferred Stock	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Deficit Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Loss
Balance at Dec. 31, 2017	$ (171,714)			$ 2	$ 10,633	$ (182,349)
Balance (ASU 2014-09) at Dec. 31, 2017		$ 1,164					$ 1,164
Temporary equity, shares at Dec. 31, 2017			78,402
Temporary equity, balance at Dec. 31, 2017			$ 148,105
Balance, shares at Dec. 31, 2017				16,059
Issuance of Series F preferred stock, net of issuance costs			$ 63,629
Issuance of Series F preferred stock, net of issuance costs, shares			23,628
Exercise of stock options	607				607
Exercise of stock options, shares				1,386
Stock-based compensation	2,071				2,071
Accumulated dividend—Series F	(4,662)					(4,662)
Temporary Equity, Accumulated dividend – Series F			$ 4,662
Accretion of Series F issuance costs	(50)				(50)
Temporary Equity, Accretion of Series F issuance costs			$ 50
Unrealized gain (loss) on investments	(14)							$ (14)
Net loss	(38,878)					(38,878)
Balance at Dec. 31, 2018	(211,476)			$ 2	13,261	(224,725)		(14)
Temporary equity, shares at Dec. 31, 2018			102,030
Temporary equity, balance at Dec. 31, 2018			$ 216,446
Balance, shares at Dec. 31, 2018				17,445
Exercise of stock options	$ 901				901
Exercise of stock options, shares	1,099			1,099
Stock-based compensation	$ 3,156				3,156
Accumulated dividend—Series F	(7,234)					(7,234)
Temporary Equity, Accumulated dividend – Series F			7,234
Accretion of Series F issuance costs	(74)				(74)
Temporary Equity, Accretion of Series F issuance costs			$ 74
Unrealized gain (loss) on investments	14							$ 14
Net loss	(42,590)					(42,590)
Balance at Dec. 31, 2019	(257,303)			$ 2	17,244	(274,549)
Balance (ASU 2016-13) at Dec. 31, 2019		$ (364)					$ (364)
Temporary equity, shares at Dec. 31, 2019			102,030
Temporary equity, balance at Dec. 31, 2019			$ 223,754
Balance, shares at Dec. 31, 2019				18,544
Exercise of stock options	$ 3,151				3,151
Exercise of stock options, shares	2,053			2,015
Exercise of warrants	$ 126				126
Exercise of warrants, shares				383
Stock-based compensation	11,058				11,058
Issuance of common stock upon initial public offering, net of underwriting discounts and commissions and other offerings costs	171,129			$ 1	171,128
Issuance of common stock upon initial public offering, net of underwriting discounts and commissions and other offering costs, shares				7,878
Issuance of common stock upon secondary public offering, net of underwriting discounts and commissions and other offering costs	65,112				65,112
Issuance of common stock upon secondary public offering, net of underwriting discounts and commissions and other offering costs, shares				1,000
Conversion of redeemable convertible preferred stock to common stock upon initial public offering	211,902			$ 3	211,899
Temporary equity,Conversion of redeemable preferred stock to common stock upon initial public offering, shares			(102,030)
Temporary equity,Conversion of redeemable preferred stock to common stock upon initial public offering			$ (211,902)
Conversion of redeemable preferred stock to common stock upon initial public offering, shares				34,442
Conversion of redeemable convertible debt to common stock upon initial public offering	50,173			$ 1	50,172
Conversion of redeemable convertible debt to common stock upon initial public offering, shares				5,250
Accumulated dividend—Series F	(918)					(918)
Temporary Equity, Accumulated dividend – Series F			918
Temporary Equity, Payment of Series F dividend			(12,814)
Accretion of Series F issuance costs	(44)				(44)
Temporary Equity, Accretion of Series F issuance costs			$ 44
Warrants issued in connection with debt	297				297
Net loss	(37,560)					(37,560)
Balance at Dec. 31, 2020	$ 216,759			$ 7	$ 530,143	$ (313,391)
Temporary equity, shares at Dec. 31, 2020			0
Balance, shares at Dec. 31, 2020				69,512

Consolidated statements of cash flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities
Net loss	$ (37,560)	$ (42,590)	$ (38,878)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	3,084	2,569	1,844
Amortization of discount on debt	774	54	49
Stock-based compensation	11,058	3,156	2,071
Provision for expected credit losses	1,594	988	341
Accretion on discount to marketable securities		(69)	(190)
Change in fair value of financial instrument	(4,413)
Changes in operating assets and liabilities:
Accounts receivable	(9,305)	(6,297)	(4,627)
Prepaid expenses	(2,704)	(1,786)	(294)
Deferred commissions	(2,396)	(903)	(804)
Accounts payable	1,907	(1,582)	291
Accrued and other current liabilities	9,610	8,164	2,351
Deferred revenue	1,822	(1,673)	6,908
Other			347
Net cash used in operating activities	(26,529)	(39,969)	(30,591)
Cash flows from investing activities:
Purchase of marketable securities			(33,566)
Purchase of property and equipment	(1,964)	(5,579)	(3,326)
Maturity of marketable securities		23,450	10,375
Net cash (used in) provided by investing activities	(1,964)	17,871	(26,517)
Cash flows from financing activities:
Proceeds from issuance of convertible preferred stock, net of issuance costs			63,629
Proceeds from issuance of common stock upon initial public offering, net of underwriting discounts and commissions and other offering costs	171,129
Proceeds from issuance of common stock upon secondary offering, net of underwriting discounts and commissions and other offerings costs	65,112
Payment of Series F dividends	(12,814)
Proceeds from exercise of stock options and warrants	3,279	901	607
Proceeds from debt	41,861	18,500	4,500
Repayment of debt	(28,617)	(2,050)	(4,500)
Net cash provided by financing activities	239,950	17,351	64,236
Net change in cash and cash equivalents and restricted cash	211,457	(4,747)	7,128
Cash and cash equivalents and restricted cash, beginning of period	9,150	13,897	6,769
Cash and cash equivalents and restricted cash, end of period	220,607	9,150	13,897
Supplemental cash flow information:
Cash paid for interest	2,285	$ 1,626	$ 1,250
Noncash investing and financing activities:
Conversion of convertible preferred stock into common stock upon initial public offering	211,902
Conversion of convertible debt into common stock upon initial public offering	$ 50,173

Overview

12 Months Ended

Dec. 31, 2020

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Overview

1. Overview

BigCommerce is leading a new era of ecommerce. Our software-as-a-service (“SaaS”) platform simplifies the creation of beautiful, engaging online stores by delivering a unique combination of ease-of-use, enterprise functionality, and flexibility. We power both our customers’ branded ecommerce stores and their cross-channel connections to popular online marketplaces, social networks, and offline point-of-sale systems.

BigCommerce empowers businesses to turn digital transformation into a competitive advantage. We allow merchants to build their ecommerce solution their way with the freedom of choice that makes the most sense for their unique business and product offerings. We provide a comprehensive platform for launching and scaling an ecommerce operation, including store design, catalog management, hosting, checkout, order management, reporting, and pre-integration into third-party services like payments, shipping, and accounting. All our stores run on a single code base and share a global, multi-tenant architecture purpose built for security, high performance, and innovation. Our platform serves stores in a wide variety of sizes, product categories, and purchase types, including business-to-consumer and business-to-business.

Our headquarters and principal place of business are in Austin, Texas.

We were formed in Australia in December 2003 under the name Interspire Pty Ltd and reorganized into a corporation in Delaware under the name BigCommerce Holdings, Inc. in February 2013.

References in these consolidated financial statements to “we,” “us,” “our,” the “Company,” or “BigCommerce” refer to BigCommerce Holdings, Inc. and its subsidiaries, unless otherwise stated.

Stock split, initial public offering and secondary offering

On July 24, 2020, we filed with the Secretary of State of the State of Delaware an amendment to our certificate of incorporation that effected a one-for-three reverse stock split of our common stock. All common stock share and per share information for all periods presented has been adjusted to reflect the reverse stock split. The amendment to our certificate of incorporation adjusted the amount of our authorized shares to: 205,000,000 shares of Series 1 common stock, 45,000,000 shares of Series 2 common stock, and 109,030,573 shares of preferred stock. The common stock has a par value of $0.0001 per share. On July 24, 2020, concurrently with the effectiveness of the reverse stock split, the conversion prices applicable to our preferred stock were adjusted proportionately in accordance with our certificate of incorporation. The Series 1 common stock and Series 2 common stock numbers referenced herein and included in this Annual Report on Form 10-K reflect this split.

On August 4, 2020, we completed our IPO, in which we issued and sold 7,877,500 shares of our Series 1 common stock, including 1,027,500 shares of Series 1 common stock that were sold pursuant to the exercise in full of the underwriters’ option to purchase additional shares of Series 1 common stock at $24.00 per share. The IPO resulted in net proceeds of $171.1 million after deducting underwriting discounts, commissions and other offering costs. Existing stockholders sold an additional 2,495,000 shares of Series 1 common stock, including 325,435 shares of Series 1 common stock that were sold pursuant to the exercise in full of the underwriters’ option to purchase additional shares of Series 1 common stock at $24.00 per share. We did not receive any proceeds from the sale of shares by the selling stockholders in the IPO.

On November 12, 2020, we completed our Secondary Offering, in which we issued and sold 1,000,000 shares of our Series 1 common stock at $68.00 per share. The Secondary Offering resulted in net proceeds of $65.1 million after deducting underwriting discounts, commissions and other offering costs. Existing stockholders sold an additional 4,750,000 shares of Series 1 common stock, including 750,000 shares of Series 1 common stock that were sold pursuant to the exercise in full of the underwriters’ option to purchase additional shares of Series 1 common stock at $68.00 per share. We did not receive any proceeds from the sale of shares by the selling stockholders in the Secondary Offering.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

2. Summary of significant accounting policies

Basis of presentation

The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”).

Basis of consolidation

The accompanying consolidated financial statements include our accounts and the accounts of our wholly-owned subsidiaries. All material intercompany accounts and transactions have been eliminated in consolidation. Our fiscal year ends on December 31.

Use of estimates

The preparation of consolidated financial statements in conformity with GAAP requires certain financial instruments to be recorded at fair value; requires our management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and reported amounts of revenue and expenses during the reporting periods. Significant estimates, judgments, and assumptions in these consolidated financial statements include: allocating variable consideration for revenue recognition; the amortization period for deferred commissions; the allowance for credit losses; a determination of the deferred tax asset valuation allowance and the valuation of our common stock used to determine stock-based compensation expense prior to our IPO. Because of the use of estimates inherent in the financial reporting process and given the additional or unforeseen effects from the COVID-19 pandemic, actual results could differ from those estimates, and such differences could be material to our consolidated financial statements.

COVID-19, declared a global pandemic by the World Health Organization on March 11, 2020, has caused disruption to the economies and communities of the United States and our target international markets. In the interest of public health, many governments closed physical stores and places of business deemed non-essential. This precipitated a significant shift in shopping behavior from offline to online. Our business has benefited from this shift, both in accelerated sales growth for our existing customers’ stores, and in our sales of new store subscriptions to customers. Nevertheless, we do not have certainty that those trends will continue; the COVID-19 pandemic and the uncertainty it has created in the global economy could materially adversely affect our business, financial condition, and results of operations.

Segment and geographic information

Our chief operating decision maker is our chief executive officer. Our chief executive officer reviews the financial information presented on a consolidated basis for purposes of making operating decisions, allocating resources, and evaluating financial performance. Accordingly, we have determined that we operate as a single operating and reportable segment. Revenue by geographic region was as follows:

	Year ended December 31,
(in thousands)	2020		2019		2018
Revenue:
Americas—U.S.	$	120,934	$	91,057	$	75,025
Americas—other		5,371		3,761		3,000
EMEA		12,396		7,370		6,123
APAC		13,667		9,915		7,719
Total revenue	$	152,368	$	112,103	$	91,867

Long-lived assets by geographic region was as follows:

	Year ended December 31,
(in thousands)	2020		2019
Long-lived assets:
Americas—U.S.	$	6,596	$	7,699
Americas—other		—		—
EMEA		—		—
APAC		526		542
Total long-lived assets	$	7,122	$	8,241

Cash and cash equivalents

We consider all highly liquid investments with original maturities of three months or less from the date of purchase to be cash equivalents. Cash equivalents consist of money market funds and investment securities and are stated at fair value.

Restricted cash

We maintain a portion of amounts collected through our online payment processor with the online payment processor as a security deposit for future chargebacks. Additionally, we have amounts on deposit with certain financial institutions that serve as collateral for letters of credit and lease deposits.

Accounts receivable

Accounts receivable are stated at net of provision for expected credit losses and include unbilled receivables. Unbilled receivables arise primarily when we provide subscriptions services in advance of billing. Accounts receivable are net of an allowance for credit losses, are not collateralized, and do not bear interest. Payment terms range from due immediately to due within 90 days. The accounts receivable balance at December 31, 2020 and December 31, 2019 included unbilled receivables of $7.5 million and $4.0 million, respectively.

We assess the collectability of outstanding accounts receivable on an ongoing basis and maintain an allowance for credit losses for accounts receivable deemed uncollectable. Upon adoption of ASU 2016-13, we analyzed the accounts receivable portfolio for significant risks, historical activity, and an estimate of future collectability to determine the amount that will ultimately be collected. This estimate is analyzed quarterly and adjusted as necessary. Identified risks pertaining to our accounts receivable include the delinquency level, customer type, and current economic environment. Due to the short-term nature of such receivables, the estimate of the amount of accounts receivable that may not be collected is based on aging of the accounts receivable balances and the financial condition of customers. Adoption of ASU 2016-13 resulted in an increase in the allowance for credit losses of approximately $0.4 million as of January 1, 2020, primarily related to unbilled receivables.

The allowance for credit losses consisted of the following:

(in thousands)
Balance at December 31, 2017	$	376
Provision for expected credit losses		341
Accounts written off		(120	)
Balance at December 31, 2018	$	597
Provision for expected credit losses		988
Accounts written off		(418	)
Balance at December 31, 2019	$	1,167
Cumulative effect adjustment upon adoption		364
Provision for expected credit losses		1,594
Accounts written off		(1,133	)
Balance at December 31, 2020	$	1,992

Property and equipment

Property and equipment are stated at cost, net of accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method over the estimated useful lives or the related lease terms (if shorter).

The estimated useful lives of property and equipment are as follows:

		Estimated
		useful life
Computer equipment		3 years
Computer software		3 years
Furniture and fixtures		5 years
Leasehold improvements		1-10 years

Maintenance and repairs that do not enhance or extend the asset’s useful life are charged to operating expenses as incurred.

The carrying values of property and equipment are reviewed for impairment whenever events or changes in circumstances indicate that their net book value may not be recoverable. When such factors and circumstances exist, we compare the projected undiscounted future cash flows associated with groups of assets used in combination over their estimated useful lives against their respective carrying amounts. If projected undiscounted future cash flows are less than the carrying value of the asset group, impairment is recorded for any excess of the carrying amount over the fair value of those assets in the period in which the determination is made.

Research and development and internal use software

Research and development expenses consist primarily of personnel and related expenses for our research and development staff, which include: salaries, benefits, bonuses, and stock-based compensation; the cost of certain third-party contractors; and allocated overhead. Expenditures for research and development, other than internal use software costs, are expensed as incurred.

Software development costs associated with internal use software, which are incurred during the application development phase and meet other requirements under the guidance are capitalized. To date, software costs eligible for capitalization have not been significant.

Concentration of credit risks, significant clients, and suppliers

Financial instruments that potentially subject us to concentrations of credit risk consist of cash and cash equivalents, restricted cash, and accounts receivable. Our investment policy limits investments to high credit quality securities issued by the U.S. government, U.S. government-sponsored agencies, and highly rated corporate securities, subject to certain concentration limits and restrictions on maturities. Our cash and cash equivalents and restricted cash are held by financial institutions that management believes are of high credit quality. Amounts on deposit may at times exceed federally insured limits. We have not experienced any losses on our deposits of cash and cash equivalents. We are exposed to credit risk in the event of default by the financial institutions holding our cash and cash equivalents and bond issuers.

Accounts receivable are derived from sales to our customers and our strategic technology partners who operate in a variety of sectors. We do not require collateral. Estimated credit losses are provided for in the consolidated financial statements and historically have been within management’s expectations.

One of our strategic partners accounted for 15% of our revenue for the year ended December 31, 2020 and 12% of our revenue for each of the years ended December 31, 2019 and 2018, and accounted for 24%, 20% and 22% of our accounts receivable balance at December 31, 2020, 2019 and 2018, respectively.

Advertising costs

We expense advertising costs as incurred. Advertising expenses were approximately $12.9 million, $11.8 million and $8.9 million for the years ended December 31, 2020, 2019 and 2018, respectively.

Leases

We determine if an arrangement is a lease or contains a lease at inception. At the commencement date of a lease, we recognize a liability to make lease payments and an asset representing the right to use the underlying asset during the lease term. The lease liability is measured at the present value of lease payments over the lease term. As our leases typically do not provide an implicit rate, we use our incremental borrowing rate for most leases. The right-of-use (“ROU”) asset is measured at cost, which includes the initial measurement of the lease liability and initial direct costs incurred and excludes lease incentives.

Lease terms may include options to extend or terminate the lease. We record a ROU asset and a lease liability when it is reasonably certain that we will exercise that option. Operating lease costs are recognized on a straight-line basis over the lease term.

We also lease office space under short-term arrangements and have elected not to include these arrangements in the ROU asset or lease liabilities.

Income taxes

We account for income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax balances are adjusted to reflect tax rates based on currently enacted tax laws, which will be in effect in the years in which the temporary differences are expected to reverse. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the results of operations in the period of the enactment date. A valuation allowance is recorded to reduce the carrying amounts of deferred tax assets unless it is more likely than not that those assets will be realized. To date, we have provided a valuation allowance against all of our deferred tax assets as we believe the objective and verifiable evidence of our historical pretax net losses outweighs any positive evidence of its forecasted future results. We will continue to monitor the positive and negative evidence, and we will adjust the valuation allowance as sufficient objective positive evidence becomes available.

We account for uncertain tax positions in accordance with ASC 740, “Income Taxes”, which clarifies the accounting for uncertainty in tax positions. These provisions require recognition of the impact of a tax position in our financial statements only if that position is more likely than not of being sustained upon examination by taxing authorities, based on the technical merits of the position. Any interest and penalties related to uncertain tax positions will be reflected as a component of income tax expense.

Stock-based compensation

We issue stock options and restricted stock units ("RSUs"). Stock-based compensation related to stock options is measured at the date of grant and is recognized on a straight-line basis over the service period, net of estimated forfeitures. We use the Black-Scholes option-pricing model to estimate the fair value of stock options awarded at the date of grant. Stock-based compensation related to restricted stock units is measured at the date of grant and recognized using the accelerated attribution method, net of forfeitures, over the remaining service period.

Accounting pronouncements

In June 2018, the FASB Issued ASU 2018-07, Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting, which expands the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from nonemployees. The new guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The adoption of this standard on January 1, 2020 did not have a material impact on our consolidated financial statements.

In June 2016, the FASB issued ASU 2016-13, “Financial Instruments—Credit Losses (Topic 326)” which modifies the measurement of expected credit losses of certain financial instruments. Credit losses on trade and other receivables, available-for-sale debt securities, and other instruments will reflect our current estimate of the expected credit losses and will generally result in the earlier recognition of allowance for losses. The new guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019, with early adoption permitted. The adoption of the new standard resulted in the recording of a cumulative-effect adjustment to accumulated deficit of $0.4 million on January 1, 2020. We will continue to actively monitor the impact of the recent COVID-19 pandemic on expected credit losses.

In August 2018, the FASB issued ASU No. 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40), which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). We adopted this guidance on January 1, 2020 on a prospective basis, which did not result in a material impact to our consolidated financial statements.

In December 2019, the FASB issued ASU No. 2019-12, “Income Taxes (Topic 740) Simplifying the Accounting for Income Taxes,” as part of its initiative to reduce complexity in the accounting standards. The amendments in ASU 2019-12 eliminate certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. ASU 2019-12 also clarifies and simplifies other aspects of the accounting for income taxes. Although the amendments in ASU 2019-12 become effective for fiscal years beginning after December 15, 2020, we elected to early adopt the ASU as of January 1, 2019 on a prospective basis. There is no material tax impact of the early adoption of ASU 2019-12 on our financial position and results of operations.

Foreign currency

Our functional and reporting currency and the functional and reporting currency of our subsidiaries is the U.S. dollar. Monetary assets and liabilities denominated in foreign currencies are re-measured to U.S. dollars using the exchange rates at the balance sheet dates. Non-monetary assets and liabilities denominated in foreign currencies are measured in U.S. dollars using historical exchange rates. Revenue and expenses are measured using the actual exchange rates prevailing on the dates of the transactions. Gains and losses resulting from re-measurement are recorded within Other expense in our consolidated statements of operations and were not material for all periods presented.

Revenue Recognition and Deferred Costs

12 Months Ended

Dec. 31, 2020

Revenue From Contract With Customer [Abstract]

Revenue Recognition and Deferred Costs

3. Revenue recognition and deferred costs

Our sources of revenue consist of subscription solutions fees and partner and services fees. These services allow customers to access our hosted software over the contract period. The customer is not allowed to take possession of the software or transfer the software. Our revenue arrangements do not contain general rights of refund in the event of cancellations.

The following table disaggregates our revenue by major source:

	Year ended December 31,
(in thousands)	2020		2019		2018
Subscription solutions	$	103,706	$	82,689	$	70,484
Partner and services		48,662		29,414		21,383
Total revenue	$	152,368	$	112,103	$	91,867

Subscription solutions

Subscription solutions revenue consists primarily of platform subscription fees from all plans. It also includes recurring professional services and sales of SSL certificates. Subscription solutions are charged monthly, quarterly, or annually for our customers to sell their products and process transactions on our platform. Subscription solutions are generally charged per online store and are based on the store’s subscription plan. Monthly subscription fees for Pro and Enterprise plans are adjusted if a customer’s gross merchandise volume or orders processed are above specified plan thresholds on a trailing twelve-month basis. For most subscription solutions arrangements, we have determined we meet the variable consideration allocation exception and, therefore, recognize fixed monthly fees or a pro-rata portion of quarterly or annual fees and any transaction fees as revenue in the month they are earned. A portion of our Enterprise subscription plans include an upfront promotional period in order to incentivize the customer to enter into a subscription arrangement. For these Enterprise arrangements, the total subscription fee is recognized on a straight-line basis over the term of the contract.

Professional services, which primarily consist of education packages, launch services, solutions architecting, implementation consulting, and catalog transfer services, are generally billed and recognized as revenue when delivered. Contracts with our retail customers are generally month-to-month, while contracts with our enterprise customers generally range from one to three years. Contracts are typically non-cancellable and do not contain refund-type provisions. Revenue is presented net of sales tax and other taxes we collect on behalf of governmental authorities.

Partner and services

Our partner and services revenue consists of revenue share, partner technology integrations, and marketing services provided to partners. Revenue share relates to fees earned by our partners from customers using our platform, where we have an arrangement with such partner to share such fees as they occur. Revenue share is recognized at the time the earning activity is complete, which is generally monthly. Revenue for partner technology integrations is recorded on a straight-line basis over the life of the contract commencing when the integration has been completed. Fees for marketing services are recognized either at the time the earning activity is complete, or ratably over the length of the contract, depending on the nature of the obligations in the contract. Payments received in advance of services being rendered are recorded as deferred revenue and recognized when the obligation is completed.

We also derive revenue from the sales of website themes and applications upon delivery.

We recognize revenue share, and revenue from the sales of third-party applications, on a net basis as we have determined that we are the agent in our arrangements with third-party application providers. All other revenue is recognized on a gross basis, as we have determined we are the principal in these arrangements.

Contracts with multiple performance obligations

A performance obligation is a promise in a contract to transfer a distinct good or service to the customer. Determining whether products and services are considered distinct performance obligations that should be accounted for separately versus together may require significant judgment.

Our subscription contracts are generally comprised of a single performance obligation to provide access to our platform, but can include additional performance obligations. For contracts with multiple performance obligations where the contracted price differs from the standalone selling price (“SSP”) for any distinct good or service, we may be required to allocate the contract’s transaction price to each performance obligation using our best estimate of SSP.

Contracts with our technology solution partners often include multiple performance obligations. In determining whether integration services are distinct from hosting services we consider various factors. These considerations included the level of integration, interdependency, and interrelation between the implementation and hosting service, as well as any promises in the contract. We have concluded that the integration services included in contracts with hosting obligations are not distinct. As a result, we defer any arrangement fees for integration services and recognize such amounts over the life of the hosting obligation. Additional consideration for some partner contracts varies based on the level of customer activity on the platform. We have determined we meet the variable consideration allocation exception and therefore recognize these variable fees in the period they are earned.

Judgment is required to determine the SSP for each distinct performance obligation. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. The primary method used to estimate SSP is the expected cost-plus margin approach, which considers margins achieved on standalone sales of similar products, market data related to historical margins within an industry, industry sales price averages, market conditions, and profit objectives.

Cost of revenue

Cost of revenue consists primarily of personnel-related costs, including: stock-based compensation expenses for customer support and professional services personnel; costs of maintaining and securing our infrastructure and platform; amortization expense associated with capitalized internal-use software; and allocation of overhead costs.

Deferred revenue

Deferred revenue primarily consists of amounts that have been billed to or received from customers in advance of performing the associated services. We recognize revenue from deferred revenue when the services are performed and the corresponding revenue recognition criteria are met.

The net increase in the deferred revenue balance for the year ended December 31, 2020 is primarily due to increase in SaaS related subscriptions. Amounts recognized from deferred revenue represent primarily revenue from the sale of subscription solutions, integration, and marketing services.

As of December 31, 2020, we had $86.9 million of remaining performance obligations, which represents contracted revenue minimums that have not yet been recognized, including amounts that will be invoiced and recognized as revenue in future periods. We expect to recognize approximately 55% of the remaining performance obligations as revenue in the next 12 months, and the remaining balance in the periods thereafter.

Deferred commissions

Certain sales commissions earned by our sales force are considered incremental and recoverable costs of obtaining a contract with a customer. Sales commissions are not paid on subscription renewals. We amortize deferred sales commissions ratably over the estimated period of our relationship with customers of approximately four years. Based on historical experience, we determine the average life of our customer relationship by taking into consideration our customer contracts and the estimated technological life of our platform and related significant features. We include amortization of deferred commissions in Sales and marketing expense in the consolidated statements of operations. We periodically review the carrying amount of deferred commissions to determine whether events or changes in circumstances have occurred that could impact the period of benefit of these deferred costs. We did not recognize an impairment of deferred commissions during the years ended December 31, 2020 and December 31, 2019.

Sales commissions of $4.5 million, $2.5 million and $2.0 million were deferred for the years ended December 31, 2020, 2019 and 2018, respectively; and deferred commission amortization expense was $2.2 million, $1.6 million and $1.2 million for the years ended December 31, 2020, 2019 and 2018, respectively.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

Fair Value Measurements

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Fair Value Measurements

4. Fair value measurements

Financial instruments carried at fair value include cash and cash equivalents, restricted cash and marketable securities. The carrying amount of accounts receivable, accounts payable, and accrued liabilities approximate fair value due to their relatively short maturities.

For assets and liabilities measured at fair value, fair value is the price to sell an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. When determining fair value, we consider the principal or most advantageous market in which it would transact, and assumptions that market participants would use when pricing asset or liabilities.

The accounting standard for fair value establishes a fair value hierarchy based on three levels of inputs, the first two of which are considered observable and the last unobservable. The standard requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement.

The three levels of inputs that may be used to measure fair value are as follows:

•

Level 1—Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date.

•

Level 2—Inputs are other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.

•

Level 3—Inputs are unobservable that are significant to the fair value of the asset or liability and are developed based on the best information available in the circumstances, which might include our data.

We had $196.5 million of marketable securities included in our cash equivalents as of December 31, 2020, which were valued using Level 1 inputs and approximated its carry value.

At December 31, 2019 the fair value of debt was measured using Level 2 inputs and approximated its carrying value.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Property and Equipment

12 Months Ended

Dec. 31, 2020

Property Plant And Equipment [Abstract]

Property and Equipment

5. Property and equipment

Property and equipment, which includes software purchased or developed for internal use, is composed of the following:

	As of December 31,
(in thousands)	2020			2019
Computer software	$	2,347		$	1,788
Computer equipment		7,938			6,816
Furniture and fixtures		2,379			2,198
Leasehold improvements		7,943			7,834
		20,607			18,636
Less: accumulated depreciation and amortization		(13,485	)		(10,395	)
Property and equipment, net	$	7,122		$	8,241

Depreciation expense on property and equipment was $3.1 million, $2.6 million and $1.8 million for the years ended December 31, 2020, 2019 and 2018, respectively.

Commitments, Contingencies, and Leases

12 Months Ended

Dec. 31, 2020

Commitments Contingencies And Leases [Abstract]

Commitments, Contingencies, and Leases

6. Commitments, contingencies, and leases

We had unconditional purchase obligations as of December 31, 2020, as follows:

(in thousands)
2021	$	6,122
2022		4,333
2023		—
2024 and thereafter		—
Total	$	10,455

Liabilities for loss contingencies arising from claims, assessments, litigation, fines, penalties, and other sources are recorded when it is probable that a liability has been incurred and that the amount can be reasonably estimated. Legal costs incurred in connection with loss contingencies are expensed as incurred. From time to time, we are subject to various claims that arise in the normal course of business. In the opinion of management, we are unaware of any pending or unasserted claims that would have a material adverse effect on our financial position, liquidity, or results.

Certain executive officers are entitled to payments in the event of termination of employment in connection with a certain change in control.

Our certificate of incorporation and certain contractual arrangements provide for indemnification of our officers and directors for certain events or occurrences. We maintain a directors and officers insurance policy to provide coverage in the event of a claim against an officer of director. Historically, we have not been obligated to make any payments for indemnification obligations, and no liabilities have been recorded for these obligations on the consolidated balance sheets as of December 31, 2020 and 2019.

Leases

We lease certain facilities under operating lease agreements that expire at various dates through 2028. Some of these arrangements contain renewal options and require us to pay taxes, insurance and maintenance costs. Renewal options were not included in the ROU asset and lease liability calculation.

We adopted ASC Topic 842, Leases on January 1, 2019. Operating and short-term rent expenses were $3.7 and $3.2 million, and $0.4 and $0.3 million, respectively, for the years ended December 31, 2020 and 2019. Operating rent expense was $2.5 million for the year ended December 31, 2018. We elected the practical expedient to not provide comparable presentation for periods prior to adoption.

Supplemental lease information

	Year ended December 31,
Cash flow information (in thousands)	2020		2019
Cash paid for operating lease liabilities	$	3,666	$	3,224
Right-of-use assets obtained in exchange for operating lease obligations	$	—	$	2,714

	Year ended December 31,
Operating lease information	2020			2019
Weighted-average remaining lease-term	6.0 years			6.8 years
Weighted-average discount rate		5.42	%		5.50	%

The future maturities of operating lease liabilities are as follows:

(in thousands)	December 31, 2020
2021	$	3,928
2022		3,062
2023		2,484
2024		2,243
2025		2,011
Thereafter		4,923
Total minimum lease payments	$	18,651
Less imputed interest		(2,806	)
Total lease liabilities	$	15,845

Other Liabilities

12 Months Ended

Dec. 31, 2020

Other Liabilities Disclosure [Abstract]

Other Liabilities

7. Other liabilities

The following table summarizes the components of other current liabilities:

	Year ended December 31,
(in thousands)	2020		2019
Sales tax payable	$	814	$	551
Payroll and payroll related expenses		18,255		6,126
Other		3,107		3,027
Other current liabilities	$	22,176	$	9,704

Debt

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Debt

8. Debt

Convertible term loan

On October 27, 2017, we entered into a contingent convertible debt agreement (the “Convertible Term Loan”) with Silicon Valley Bank (“SVB”) providing for a term loan of $20.0 million. In conjunction with our IPO on August 5, 2020, the bank exercised its purchase right and repaid $1.1 million of previously paid principal. This balance, combined with the unpaid principal balance of $18.9 was converted into 2,179,360 shares of Series 1 common stock. No further borrowings are allowed under this convertible debt agreement. Interest was calculated on the outstanding principal, with interest payable monthly. The initial interest rate was equal to the prime rate and changes to a rate of prime plus 2.0% on and after January 1, 2020, a rate of prime plus 4.0% on and after January 1, 2021, and a rate of prime plus 6.0% on and after January 1, 2022. The weighted-average effective interest rate was 5.8%, 5.4% and 4.9% during the years ended December 31, 2020, 2019 and 2018. Quarterly principal payments of $125 thousand were due and payable from June 1, 2018 through maturity.

On February 28, 2020 we entered into a contingent convertible term loan (the “2020 Convertible Loan”) with SVB, providing for a convertible term loan in an amount of $35.0 million. In conjunction with our IPO on August 5, 2020, the outstanding principal balance of $35 million was converted into 3,070,174 shares of Series 1 common stock. No further borrowings are allowed under this convertible debt agreement. Interest was calculated on the outstanding principal, with interest payable monthly. The 2020 Convertible Term Loan bears interest at (a) 4.5% prior to January 1, 2022, (b) 6.5% from January 1, 2022 and prior to January 1, 2023, (c) 8.5% from January 1, 2023 and prior to January 1, 2024, and (d) 10.5% from and after January 1, 2024. The weighted-average effective interest rate was 4.0% for the year ended December 31, 2020.

In addition to the conversion shares on the outstanding principal, this instrument required a deficiency payment if the value of the conversion shares does not meet an applicable required minimum return of (a) 1.25 if converted within 18 months of the agreement, (b) 1.32 if converted between 18 months and 24 months, and (c) 1.55 if converted between 24 months and maturity. The deficiency payment, at the election of the holder, would be settled either (i) by issuance of additional shares of common stock equal to the difference between the minimum return and the conversion value or (ii) in cash in a single installment in the amount of such difference. Management determined that the required minimum return as defined above represented, in substance, an embedded lenders’ put option designed to provide the investor with a fixed monetary amount, settleable in either additional shares or cash. Management determined that this put option should be separated and accounted for as a derivative primarily because the put option met the net settlement criterion and the settlement provisions were not consistent with a fixed-for-fixed equity instrument. Based on the value of the conversion shares issued to the bank upon completion of the IPO, we met the required minimum return under terms of the 2020 Convertible Term Loan and were not required to provide any additional shares or cash.

The put option, with an initial fair value of approximately $4.4 million, was recorded as a derivative liability on the accompanying balance sheet and a corresponding discount to the 2020 Convertible Term Loan. The discount was accreted to interest expense on the consolidated statement of operations over the term of the 2020 Convertible Term Loan using the effective interest method. The net balance outstanding under the terms of this agreement was netted against the outstanding principal balance upon conversion to Series 1 Common Stock upon completion of our IPO. We recorded interest expense related to this instrument of $0.4 during the year ended December 31, 2020.

The estimated fair value of the put option was determined using a multi-scenario probability weighted expected return method analysis in which the future probability of exit events was weighted for its respective probability. Key assumptions included time to exit event, fair value of common stock, and a discount rate. At March 31, 2020, we determined the put option had no fair value due to an increase in market conditions that would make any amounts due under the redemption feature remote. As a result, we recorded a gain in the amount of $4.4 million, which was recorded in the accompanying consolidated statements of operations. This instrument was extinguished upon the conversion of the 2020 Convertible Term Debt upon completion of our IPO.

Credit facility

On October 27, 2017, we amended and restated our loan and security agreement (as amended, the “Credit Facility”) with SVB. The Credit Facility provided a $20.0 million revolving line of credit (the “Revolving Line”) and a $5.0 million term loan (the “2018 Term Loan”). On June 4, 2019, we amended the Credit Facility to increase the Revolving Line by $5.0 million to $25.0 million.

On February 28, 2020, we amended and restated our loan and security agreement (the “A&R Credit Facility”) with SVB. The A&R Credit Facility reduces the amount available under the Revolving Line by $5.0 million to $20.0 million with a further reduction in availability to $10.0 million scheduled for September 30, 2020. On September 29, 2020, we entered into an agreement with SVB to defer the reduction in amounts available under the Revolving Line from $20.0 million to $10.0 million from September 30, 2020 to December 31, 2020. We accounted for the February 28, 2020 amendment and restatement transaction as an extinguishment of debt pursuant to ASC 470-50. We recorded an immaterial loss on extinguishment during the year period ended December 31, 2020.

The Revolving Line has a maturity date of October 27, 2021. The Revolving Line bore interest at a rate equal to the prime rate, and the weighted-average effective interest rate was 3.6%, 5.3% and 5.2% for the years ended December 31, 2020, 2019, and 2018, respectively. Interest is calculated on the outstanding principal and is payable monthly. We had no balance outstanding under terms of this agreement at December 31, 2020 and no further borrowings are allowed under this agreement. As of December 31, 2019, we had $18.5 million outstanding under the Revolving Line.

Borrowings from the 2018 Term Loan mature 36 months after each draw. The 2018 Term Loan bore interest at a rate equal to the prime rate plus 0.25% and, the weighted-average effective interest rate was 4.2%, 5.3%, and 5.2% for the years ended December 31, 2020, 2019 and 2018, respectively. Interest is calculated on the outstanding principal and is payable monthly. Monthly principal payments commenced on October 1, 2018 with a maturity date of October 1, 2021. The principal amortizes equally from the time of the draw to the maturity date. As of December 31 2020, we had no balance outstanding under terms of this agreement and no further borrowings are allowed. At December 31, 2019, we had $3.3 million outstanding under the 2018 Term Loan.

In conjunction with our entry into the A&R Credit Facility, our financial covenants were amended. We are required to maintain a revenue growth rate of 118% each quarter compared to the same quarter in the prior year. The other covenant requires us to maintain a minimum liquidity ratio of 1.5:1. The liquidity ratio is calculated as unrestricted and unencumbered cash plus sixty percent of net accounts receivable to balance outstanding under the Revolving Line. Due to the repayment of the facilities, we had no compliance requirements as of December 31, 2020.

Mezzanine Facility Loan

On February 28, 2020, we entered into a mezzanine loan and security agreement (the “Mezzanine Facility”) with WestRiver Innovation Lending Fund VIII, L.P. (“WestRiver”) providing for a term loan of $10.0 million. The Mezzanine Facility maturity date is March 1, 2023. Our obligations under the Mezzanine Facility are secured by substantially all of our assets. The Mezzanine Facility contains restrictive covenants, including limits on additional indebtedness, liens, asset dispositions, dividends, investments, and distributions. Borrowings under the Mezzanine Facility bear interest at the greater of (i) 10.0% or (ii) the prime rate then in effect plus 5.25%. Interest is calculated on the outstanding principal on a 360-day year basis, payable monthly. This agreement formally terminated on November 6, 2020 and there was no balance outstanding as of December 31, 2020.

In connection with the Mezzanine Facility, we issued warrants to purchase up to 99,000 shares of common stock with an exercise price of $9.21 per share with the warrants expiring on March 1, 2023. The warrant was exercisable for half of the shares. The warrant did not become exercisable for the remaining half of the shares because we did not draw down under the Mezzanine Facility and our ability to draw down under the Mezzanine Facility terminated. The portion of the warrant that was exercisable was exercised in August 2020 and the portion that did not become exercisable terminated upon the termination of the Mezzanine Facility.

Upon issuance of the warrants, we recorded the fair value of the first tranche of warrants at $0.3 million. The value of the warrants issued was recorded as a discount on the carrying value of the debt instruments, which was amortized to interest expense over the life of the debt instruments as an adjustment to (increase in) the effective interest rate.

Debt fees

Lender fees that were paid upfront to the lenders and debt issuance fees paid to third parties are recorded as a discount from the debt carrying amount and are being amortized to interest expense over the life of the debt. Interest expense related to debt discount amortization was not material for any of the periods presented. Due to the repayment of all outstanding debt obligations, there were no unamortized fees as of December 31, 2020. Net unamortized fees as of December 31, 2019 amounted to $0.9 million.

Stockholders' Equity (Deficit)

12 Months Ended

Dec. 31, 2020

Equity [Abstract]

Stockholders' Equity (Deficit)

9. Stockholders’ equity (deficit)

2020 Equity incentive plan

In July 2020, our board of directors approved the 2020 Equity Incentive Plan, or 2020 Plan, under which stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares and units and other cash-based or stock-based awards may be granted to employees, consultants and directors. Shares of common stock that are issued and available for issuance under the 2020 Plan consist of authorized, but unissued or reacquired shares of common stock or any combination thereof.

A total of 3,873,885 shares of our Series 1 common stock was initially authorized and reserved for issuance under the 2020 Plan. This reserve will automatically increase on January 1, 2021, and each subsequent anniversary through and including January 1, 2031, by an amount equal to the smaller of (a) 5% of the number of shares of Series 1 and Series 2 common stock issued and outstanding on the immediately preceding December 31 and (b) an amount determined by our board of directors. In addition, this reserve will be increased to include up to 10,330,304 shares that remained available for grant under our 2013 Plan upon its termination or that are subject to awards granted under our 2013 Plan that expire or terminate without having been exercised or settled in full. As of December 31, 2020, a total of 14,204,189 shares were allocated for issuance under the 2020 Plan. As of December 31, 2020, options to purchase a total of 9,182,043 shares of common stock, have been granted under the 2020 Plan, 1,407,811 shares, have been reserved under the 2020 Plan for the vesting of restricted stock units and market stock units, 181,750 shares have been returned to the 2020 Plan as a result of termination of options that expired or terminated without having been exercised and restricted stock awards that terminated prior to the awards vesting, and 3,796,085 shares of common stock remain available for future issuance under the 2020 Plan.

In February 2013, we adopted the 2013 Plan under which stock options may be granted to employees, consultants and directors. Upon the completion of our IPO in August 2020, the board of directors terminated the 2013 Plan and all shares that were available for future issuance under the 2013 Plan at such time were transferred to the 2020 Plan. The 2020 Plan will continue to govern the terms and conditions of all outstanding equity awards granted under the 2013 Plan. As of December 31, 2020, no shares remain available for future issuance under the 2013 Plan.

Stock options

We use the Black-Scholes option-pricing model to estimate the fair value of our share-based payment awards. The Black-Scholes option-pricing model requires estimates regarding the risk-free rate of return, dividend yields, expected life of the award, and estimated forfeitures of awards during the service period. The calculation of expected volatility is based on historical volatility for comparable industry peer groups over periods of time equivalent to the expected life of each stock option grant. As we do not have a significant history as a publicly traded company, we believe that comparable industry peer groups provide a reasonable measurement of volatility in order to calculate a reasonable estimate of fair value of each stock award. The expected term is calculated based on the weighted average of the remaining vesting term and the remaining contractual life of each award. We based the estimate of risk-free rate on the U.S. Treasury yield curve in effect at the time of grant or modification. We have never paid cash dividends and do not currently intend to pay cash dividends, and thus have assumed a dividend yield of zero.

Subsequent to our IPO on August 4, 2020, we utilize the quoted market price for our stock on the grant date in the fair value calculation. Prior to our IPO, we estimated the fair value of common stock at the time of grant of the option by considering a number of objective and subjective factors, including independent third-party valuations of our common stock, operating and financial performance, the lack of liquidity of capital stock, and general and industry-specific economic outlook, among other factors.

We estimate potential forfeitures of stock grants and adjust compensation cost recorded accordingly. The estimate of forfeitures will be adjusted over the requisite service period to the extent that actual forfeitures differ, or are expected to differ, from such estimates. Changes in estimated forfeitures will be recognized through a cumulative catch-up adjustment in the period of change and will also impact the amount of stock compensation expense to be recognized in future periods.

The following table summarizes the weighted-average grant date value of options and the assumptions used to develop their fair value.

	Year ended December 31,
	2020		2019		2018
Weighted-average grant date fair value of options	$	7.01	$	1.20	$	0.42
Risk-free interest rate	0.34%—0.84%		1.51%—2.53%		2.43%—3.09%
Expected volatility	49.64%—51.49%		46.70%—47.87%		47.22%—49.13%
Expected life in years	5.49—6.10 years		5.52—6.08 years		5.00—6.08 years
Dividend yield		—		—		—

A summary of the changes in common stock options issued under all of the existing stock option plans is as follows:

(in thousands, except per share amounts)	Shares			Weighted average of exercise prices		Weighted average of remaining term (years)		Aggregate intrinsic value
Options outstanding at December 31, 2018		9,006		$	1.71		8.60	$	13,327
Granted		2,266			3.45		—		—
Exercised		(1,099	)		1.17		—		—
Forfeited		(846	)		1.98		—		—
Options outstanding at December 31, 2019		9,327		$	2.22		8.17	$	65,294
Granted		1,384			14.85		—		—
Exercised		(2,053	)		2.25		—		—
Forfeited		(443	)		5.33		—		—
Options outstanding at December 31, 2020		8,215		$	4.30		7.65	$	491,648
Vested and expected to vest at December 31, 2020⁽¹⁾		7,578		$	4.03		7.58	$	456,531
Vested at December 31, 2020		4,072		$	1.99		6.85	$	253,117

(1)	The expected-to-vest options are the result of applying the pre-vesting forfeiture rate to outstanding options.

The total intrinsic value of options exercised during the years ended December 31, 2020, 2019 and 2018 was $72.4 million, $5.6 million and $2.6 million, respectively. The intrinsic value was calculated as the difference between the estimated fair value of our common stock at exercise, and the exercise price of the in-the-money options. The weighted-average grant date fair value of options granted during the years ended December 31, 2020, 2019 and 2018 was $9.6 million, $8.1 million and $6.3 million, respectively.

At December 31, 2020, 2019 and 2018, there was an estimated $11.4 million, $9.4 million and $6.2 million, respectively, of total unrecognized compensation costs related to stock options. These costs will be recognized over a weighted-average period of three years.

Restricted stock units

In May 2020, we issued RSUs and PSUs to certain employees. A summary of activity during the year ended December 31, 2020 is presented below:

(in thousands, except per share amounts)	Shares		Weighted average grant date fair value
Nonvested at December 31, 2019		—	$	—
Granted		1,408		24.67
Vested		—		—
Cancelled/Forfeited/Expired		—		—
Nonvested at December 31, 2020		1,408	$	24.67

During the year ended December 31, 2020, we granted 192 RSUs to members of management and certain other employees pursuant to the 2020 Plan. The fair value of the RSU grant is determined based upon the market closing price of our common stock on the date of grant. The RSUs vest over the requisite service period of 4 years, subject to the continued employment of the employees.

At December 31, 2020, there was an estimated $10.4 million of total unrecognized stock-based compensation costs related to RSUs. These costs will be recognized over a weighted-average period of 3.7 years.

Performance-based restricted stock units

During the year ended December 31, 2020, we granted 1,216 PSUs to members of management pursuant to the 2013 Plan. These PSUS contained a performance clause which required us to successfully complete an IPO as well as a service condition that required continued employment. These PSUs vest on a tranche by tranche basis over the life of the service period of 1-4 years.

At December 31, 2020, there was an estimated $10.4 million of total unrecognized stock-based compensation costs related to these PSUs. These costs will be recognized over a weighted-average period of 1.9 years.

Total stock-based compensation expense recognized was as follows:

	Year ended December 31,
(in thousands)	2020		2019		2018
Cost of revenue	$	769	$	191	$	82
Sales and marketing		3,310		838		388
Research and development		2,500		666		432
General and administrative		4,479		1,461		1,169
Total stock-based compensation expense	$	11,058	$	3,156	$	2,071

Convertible preferred stock

As of December 31, 2019, we had six outstanding series of redeemable convertible preferred stock. These preferred shares were classified as temporary equity within our consolidated balance sheet as of December 31, 2019. Immediately upon closing of our IPO, the outstanding preferred stock was automatically converted into an aggregate of 29,390,733 shares of Series 1 common stock and 5,050,555 shares of Series 2 common stock. Under the terms of Series F preferred stock, dividends were required to be paid at 10 percent, which could be adjusted for the holder’s actual rate of return upon redemption. Upon completion of our IPO with an offering price of $24 per share, we met the threshold for a reduction of dividends and reduced the required dividend rate to 8 percent. We utilized a portion of the proceeds from the IPO to pay the cumulative dividends of $12.8 million to the holders of our Series F preferred stock. As of December 31, 2020, there was no preferred stock issued or outstanding.

Income Taxes

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Income Taxes

10. Income taxes

Pretax earnings from continuing operations consist of the following:

	Year ended December 31,
(in thousands)	2020			2019			2018
United States	$	(31,891	)	$	(38,720	)	$	(38,471	)
Non-U.S.		(5,644	)		(3,842	)		(397	)
Total pre-tax earnings	$	(37,535	)	$	(42,562	)	$	(38,868	)

Our components of the provision for income taxes are as follows:

	Year ended December 31,
(in thousands)	2020		2019		2018
Income tax provision (benefit)
Current:
Federal	$	—	$	—	$	—
State	24			25		10
Foreign	1			3		—
Total current	$	25	$	28	$	10
Deferred:
Federal		—		—		—
State		—		—		—
Foreign		—		—		—
Total deferred		—		—		—
Total provision (benefit)	$	25	$	28	$	10

Our provision for income taxes attributable to continuing operations differs from the expected tax expense (benefit) amount computed by applying the U.S. statutory federal income tax rate of 21% to income from continuing operations before income taxes. The variance is a result of the application of a valuation allowance for net deferred assets, including NOL carryforwards and credits generated in Australia, the UK, and the United States. Income tax expense for the period is a result of the Texas “Gross Margin” tax in the case of the state tax expense and taxable profits in Ireland and Singapore in the case of the foreign tax expense.

	Year ended December 31,
(in thousands)	2020			2019			2018
U.S. federal taxes at statutory rate		21.00	%		21.00	%		21.00	%
State taxes, net of federal benefit		4.91			3.25			3.45
Foreign tax rate differentials		0.66			0.33			(0.15	)
Research and development credit		4.97			3.24			(0.46	)
Stock-based compensation		16.97			0.38			(0.83	)
Permanent differences, other		(8.17	)		(3.77	)		(1.83	)
Change in valuation allowance		(40.41	)		(24.50	)		(22.30	)
Other		—			—			1.09
Effective tax rate		(0.07	)%		(0.07	)%		(0.03	)%

The Tax Cuts and Jobs Act of 2017 (the “TJCA”) subjects a U.S. shareholder to current tax on certain earnings of foreign subsidiaries under a provision commonly known as GILTI (global intangible low-taxed income). Under U.S. GAAP, an accounting policy election can be made to either recognize deferred taxes for temporary basis differences expected to reverse as GILTI in future years, or to provide for the tax expense related to GILTI in the year the tax is incurred as a period expense only. We have elected to account for GILTI in the year the tax is incurred.

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes.

Significant components of deferred taxes are as follows:

	December 31,
(in thousands)	2020			2019
Deferred tax assets:
Net operating loss and credit carryforwards	$	52,216		$	36,373
Lease liabilities		3,868			3,854
Deferred revenue		426			871
Depreciation and amortization		8,381			9,144
Stock-based compensation		2,401			682
Other		1,721			702
Gross deferred tax assets	$	69,013		$	51,626
Valuation allowance		(62,917	)		(46,784	)
Deferred tax liabilities:
Capitalized software costs		—			(478	)
Deferred commission		(1,448	)		(752	)
Right-of-use assets		(2,904	)		(2,887	)
Prepaid expenses and other		(1,744	)		(725	)
Gross deferred tax liabilities		(6,096	)		(4,842	)
Net deferred tax assets	$	—		$	—

At December 31, 2020, we had NOL carryforwards for U.S. federal income tax purposes of approximately $168.9 million. Of this total, $120.4 million is related to tax years 2018, 2019 and 2020 that do not have an expiration, as a result of the TCJA. The remaining $48.5 million of U.S. federal NOL carryforwards are available to offset future U.S. federal taxable income and begin to expire in 2036.

At December 31, 2020, we had NOL carryforwards for certain state income tax purposes of approximately $66.5 million. These state NOL carryforwards are available to offset future state taxable income and begin to expire in 2036.

At December 31, 2020, we had foreign NOL carryforwards in Australia and the U.K., combined, of approximately $11.4 million, which are available to offset future foreign taxable income and that do not have an expiration.

At December 31, 2020, we did not provide any U.S. income or foreign withholding taxes related to certain foreign subsidiaries’ undistributed earnings, as such earnings have been retained and are intended to be indefinitely reinvested. The majority of our foreign operations are in excess tax basis over book basis positions. It is not practicable to estimate the amount of taxes that would be payable upon remittance of these earnings, because such tax, if any, is dependent upon circumstances existing if and when remittance occur.

At December 31, 2020, we had research and development tax credit carryforwards of approximately $5.2 million, which are available to offset future U.S. federal income tax. These U.S. federal tax credits begin to expire in 2034.

At December 31, 2020 and December 31, 2019, we did not believe it is more likely than not that our net deferred tax assets will be realized. Therefore, we recorded a full valuation allowance with respect to all net deferred tax assets. During 2020, the valuation allowance increased by approximately $16.1 million. The increase mainly relates to the increase the U.S. federal NOL and R&D tax credit along with an increase in state NOLs and tax credits.

We file U.S. federal, state and foreign income tax returns in jurisdictions with varying statutes of limitations. The 2017 through 2020 tax years generally remain open and subject to examination by U.S. federal, state and foreign tax authorities. The 2017 tax year generally remains open and subject to examination by foreign tax authorities. Losses generated in any year since inception remain open to adjustment until the statute of limitations closes for the tax year in which the NOL carryforwards are utilized. We are not currently under audit in any taxing jurisdictions.

As of December 31, 2020, we had no recorded unrecognized tax benefits.

Our practice is to recognize interest and/or penalties related to income tax matters in income tax expense. During 2020 and 2019, we did not recognize any material interest or penalties.

- Definition

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

+ References + Details

Net Loss per Share

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Net Loss per Share

11. Net loss per share

Net loss per share

Basic and diluted net loss per common share is presented in conformity with the two-class method required for participating securities. Prior to the IPO, Holders of Series F preferred stock were entitled to receive cumulative dividends at the annual rate of 10% compounded quarterly payable prior and in preference to any dividends on any shares of our common stock. In the event a dividend was paid on common stock, the holders of preferred stock were entitled to a proportionate share of any such dividend as if they were holders of common stock (on an as-if converted basis). Accordingly, all of our outstanding series of preferred stock were considered to be participating securities. The holders of our preferred stock did not have a contractual obligation to share in our losses; therefore, no amount of total undistributed loss was allocated to preferred stock. Net loss attributable to common stockholders was calculated as net loss less current period preferred stock dividends.

Basic net loss per share attributable to common stockholders is computed by dividing net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding for the period. Because we have reported a net loss for 2020, 2019 and 2018, the number of shares used to calculate diluted net loss per share of common stock attributable to common stockholders is the same as the number of shares used to calculate basic net loss per share of common stock attributable to common stockholders for the period presented 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:

	Year ended December 31,
(in thousands)	2020		2019		2018
Preferred stock as-converted		—		34,442		34,442
Stock options outstanding		8,215		9,327		9,006
Warrants to purchase common stock		—		364		352
Restricted stock units		1,408		—		—
Convertible debt		—		2,180		2,180
Total potentially dilutive securities		9,623		46,313		45,980

Quarterly Results of Operations (Unaudited)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Quarterly Results of Operations (Unaudited)

12. Quarterly results of operations (unaudited)

	Three months ended
	December 31, 2020			September 30, 2020			June 30, 2020			March 31, 2020			December 31, 2019			September 30, 2019			June 30, 2019			March 31, 2019

Revenue	$	43,143		$	39,735		$	36,316		$	33,174		$	31,020		$	28,264		$	27,235		$	25,584
Cost of revenue		10,216			8,593			7,837			7,480			8,065			6,806			6,227			5,925
Gross profit		32,927			31,142			28,479			25,694			22,955			21,458			21,008			19,659
Operating expenses:
Sales and marketing		20,577			19,328			16,803			15,762			15,295			15,346			15,963			14,136
Research and development		13,942			12,124			11,345			10,921			10,961			10,862			10,468			10,832
General and administrative		12,212			9,745			7,714			6,466			6,456			5,527			5,222			4,999
Total operating expenses		46,731			41,197			35,862			33,149			32,712			31,735			31,653			29,967
Loss from operations		(13,804	)		(10,055	)		(7,383	)		(7,455	)		(9,757	)		(10,277	)		(10,645	)		(10,308	)
Interest income		11			2			17			1			—			4			86			155
Interest expense		(448	)		(741	)		(1,152	)		(762	)		(483	)		(359	)		(410	)		(360	)
Change in fair value of financial instruments		—			—			—			4,413			—			—			—			—
Other expense		59			(75	)		40			(203	)		(45	)		(86	)		(56	)		(21	)
Loss before provision for income taxes		(14,182	)		(10,869	)		(8,478	)		(4,006	)		(10,285	)		(10,718	)		(11,025	)		(10,534	)
Provision for income taxes		19			(14	)		3			17			7			7			7			7
Net loss	$	(14,201	)	$	(10,855	)	$	(8,481	)	$	(4,023	)	$	(10,292	)	$	(10,725	)	$	(11,032	)	$	(10,541	)
Dividends and accretion of issuance costs on Series F preferred stock	$	—		$	2,732		$	(1,953	)	$	(1,745	)	$	(1,909	)	$	(1,865	)	$	(1,798	)	$	(1,736	)
Net loss attributable to common stockholders	$	(14,201	)	$	(8,123	)	$	(10,434	)	$	(5,768	)	$	(12,201	)	$	(12,590	)	$	(12,830	)	$	(12,277	)
Basic and diluted net loss per share attributable to common stockholders	$	(0.21	)	$	(0.16	)	$	(0.54	)	$	(0.31	)	$	(0.67	)	$	(0.70	)	$	(0.73	)	$	(0.70	)
Weighted average shares used to compute basic and diluted net loss per share attributable to common stockholders		68,638			49,355			19,149			18,645			18,286			17,959			17,592			17,487

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Basis of presentation

The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”).

Basis of consolidation

Use of estimates

Segment and geographic information

	Year ended December 31,
(in thousands)	2020		2019		2018
Revenue:
Americas—U.S.	$	120,934	$	91,057	$	75,025
Americas—other		5,371		3,761		3,000
EMEA		12,396		7,370		6,123
APAC		13,667		9,915		7,719
Total revenue	$	152,368	$	112,103	$	91,867

Long-lived assets by geographic region was as follows:

	Year ended December 31,
(in thousands)	2020		2019
Long-lived assets:
Americas—U.S.	$	6,596	$	7,699
Americas—other		—		—
EMEA		—		—
APAC		526		542
Total long-lived assets	$	7,122	$	8,241

Cash and cash equivalents

Restricted cash

Accounts receivable

The allowance for credit losses consisted of the following:

(in thousands)
Balance at December 31, 2017	$	376
Provision for expected credit losses		341
Accounts written off		(120	)
Balance at December 31, 2018	$	597
Provision for expected credit losses		988
Accounts written off		(418	)
Balance at December 31, 2019	$	1,167
Cumulative effect adjustment upon adoption		364
Provision for expected credit losses		1,594
Accounts written off		(1,133	)
Balance at December 31, 2020	$	1,992

Property and equipment

The estimated useful lives of property and equipment are as follows:

		Estimated
		useful life
Computer equipment		3 years
Computer software		3 years
Furniture and fixtures		5 years
Leasehold improvements		1-10 years

Maintenance and repairs that do not enhance or extend the asset’s useful life are charged to operating expenses as incurred.

Research and development and internal use software

Concentration of credit risks, significant clients, and suppliers

Advertising costs

We expense advertising costs as incurred. Advertising expenses were approximately $12.9 million, $11.8 million and $8.9 million for the years ended December 31, 2020, 2019 and 2018, respectively.

Leases

We also lease office space under short-term arrangements and have elected not to include these arrangements in the ROU asset or lease liabilities.

Income taxes

Stock-based compensation

Accounting pronouncements

Foreign currency

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Schedule of Revenue by Geographic Region

Accordingly, we have determined that we operate as a single operating and reportable segment. Revenue by geographic region was as follows:

	Year ended December 31,
(in thousands)	2020		2019		2018
Revenue:
Americas—U.S.	$	120,934	$	91,057	$	75,025
Americas—other		5,371		3,761		3,000
EMEA		12,396		7,370		6,123
APAC		13,667		9,915		7,719
Total revenue	$	152,368	$	112,103	$	91,867

Schedule of Long-lived Assets by Geographic Region

Long-lived assets by geographic region was as follows:

	Year ended December 31,
(in thousands)	2020		2019
Long-lived assets:
Americas—U.S.	$	6,596	$	7,699
Americas—other		—		—
EMEA		—		—
APAC		526		542
Total long-lived assets	$	7,122	$	8,241

Schedule of Allowance for Credit Losses

The allowance for credit losses consisted of the following:

(in thousands)
Balance at December 31, 2017	$	376
Provision for expected credit losses		341
Accounts written off		(120	)
Balance at December 31, 2018	$	597
Provision for expected credit losses		988
Accounts written off		(418	)
Balance at December 31, 2019	$	1,167
Cumulative effect adjustment upon adoption		364
Provision for expected credit losses		1,594
Accounts written off		(1,133	)
Balance at December 31, 2020	$	1,992

Schedule of Estimated Useful Lives of Property and Equipment

The estimated useful lives of property and equipment are as follows:

		Estimated
		useful life
Computer equipment		3 years
Computer software		3 years
Furniture and fixtures		5 years
Leasehold improvements		1-10 years

Revenue Recognition and Deferred Costs (Tables)

12 Months Ended

Dec. 31, 2020

Revenue From Contract With Customer [Abstract]

Schedule of Disaggregate Revenue by Major Source

The following table disaggregates our revenue by major source:

	Year ended December 31,
(in thousands)	2020		2019		2018
Subscription solutions	$	103,706	$	82,689	$	70,484
Partner and services		48,662		29,414		21,383
Total revenue	$	152,368	$	112,103	$	91,867

Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2020

Property Plant And Equipment [Abstract]

Schedule of Property and Equipment

Property and equipment, which includes software purchased or developed for internal use, is composed of the following:

	As of December 31,
(in thousands)	2020			2019
Computer software	$	2,347		$	1,788
Computer equipment		7,938			6,816
Furniture and fixtures		2,379			2,198
Leasehold improvements		7,943			7,834
		20,607			18,636
Less: accumulated depreciation and amortization		(13,485	)		(10,395	)
Property and equipment, net	$	7,122		$	8,241

Commitments, Contingencies, and Leases (Tables)

12 Months Ended

Dec. 31, 2020

Commitments Contingencies And Leases [Abstract]

Schedule of Unconditional Purchase Obligations

We had unconditional purchase obligations as of December 31, 2020, as follows:

(in thousands)
2021	$	6,122
2022		4,333
2023		—
2024 and thereafter		—
Total	$	10,455

Supplemental Lease Information

Supplemental lease information

	Year ended December 31,
Cash flow information (in thousands)	2020		2019
Cash paid for operating lease liabilities	$	3,666	$	3,224
Right-of-use assets obtained in exchange for operating lease obligations	$	—	$	2,714

	Year ended December 31,
Operating lease information	2020			2019
Weighted-average remaining lease-term	6.0 years			6.8 years
Weighted-average discount rate		5.42	%		5.50	%

Schedule of Future Maturities of Operating Lease Liabilities

The future maturities of operating lease liabilities are as follows:

(in thousands)	December 31, 2020
2021	$	3,928
2022		3,062
2023		2,484
2024		2,243
2025		2,011
Thereafter		4,923
Total minimum lease payments	$	18,651
Less imputed interest		(2,806	)
Total lease liabilities	$	15,845

Other Liabilities (Tables)

12 Months Ended

Dec. 31, 2020

Other Liabilities Disclosure [Abstract]

Components of Other Current Liabilities

The following table summarizes the components of other current liabilities:

	Year ended December 31,
(in thousands)	2020		2019
Sales tax payable	$	814	$	551
Payroll and payroll related expenses		18,255		6,126
Other		3,107		3,027
Other current liabilities	$	22,176	$	9,704

Stockholders' Equity (Deficit) (Tables)

12 Months Ended

Dec. 31, 2020

Equity [Abstract]

Summary of Stock Options Valuation Assumptions

The following table summarizes the weighted-average grant date value of options and the assumptions used to develop their fair value.

	Year ended December 31,
	2020		2019		2018
Weighted-average grant date fair value of options	$	7.01	$	1.20	$	0.42
Risk-free interest rate	0.34%—0.84%		1.51%—2.53%		2.43%—3.09%
Expected volatility	49.64%—51.49%		46.70%—47.87%		47.22%—49.13%
Expected life in years	5.49—6.10 years		5.52—6.08 years		5.00—6.08 years
Dividend yield		—		—		—

Summary of Changes in Stock Options Activity

A summary of the changes in common stock options issued under all of the existing stock option plans is as follows:

(in thousands, except per share amounts)	Shares			Weighted average of exercise prices		Weighted average of remaining term (years)		Aggregate intrinsic value
Options outstanding at December 31, 2018		9,006		$	1.71		8.60	$	13,327
Granted		2,266			3.45		—		—
Exercised		(1,099	)		1.17		—		—
Forfeited		(846	)		1.98		—		—
Options outstanding at December 31, 2019		9,327		$	2.22		8.17	$	65,294
Granted		1,384			14.85		—		—
Exercised		(2,053	)		2.25		—		—
Forfeited		(443	)		5.33		—		—
Options outstanding at December 31, 2020		8,215		$	4.30		7.65	$	491,648
Vested and expected to vest at December 31, 2020⁽¹⁾		7,578		$	4.03		7.58	$	456,531
Vested at December 31, 2020		4,072		$	1.99		6.85	$	253,117

(1)	The expected-to-vest options are the result of applying the pre-vesting forfeiture rate to outstanding options.

Summary of RSU Table

A summary of activity during the year ended December 31, 2020 is presented below:

(in thousands, except per share amounts)	Shares		Weighted average grant date fair value
Nonvested at December 31, 2019		—	$	—
Granted		1,408		24.67
Vested		—		—
Cancelled/Forfeited/Expired		—		—
Nonvested at December 31, 2020		1,408	$	24.67

Summary of Stock-Based Compensation Expense

Total stock-based compensation expense recognized was as follows:

	Year ended December 31,
(in thousands)	2020		2019		2018
Cost of revenue	$	769	$	191	$	82
Sales and marketing		3,310		838		388
Research and development		2,500		666		432
General and administrative		4,479		1,461		1,169
Total stock-based compensation expense	$	11,058	$	3,156	$	2,071

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of Pretax Earnings from Continuing Operations

Pretax earnings from continuing operations consist of the following:

	Year ended December 31,
(in thousands)	2020			2019			2018
United States	$	(31,891	)	$	(38,720	)	$	(38,471	)
Non-U.S.		(5,644	)		(3,842	)		(397	)
Total pre-tax earnings	$	(37,535	)	$	(42,562	)	$	(38,868	)

Schedule Components of Provision for Income Taxes

Our components of the provision for income taxes are as follows:

	Year ended December 31,
(in thousands)	2020		2019		2018
Income tax provision (benefit)
Current:
Federal	$	—	$	—	$	—
State	24			25		10
Foreign	1			3		—
Total current	$	25	$	28	$	10
Deferred:
Federal		—		—		—
State		—		—		—
Foreign		—		—		—
Total deferred		—		—		—
Total provision (benefit)	$	25	$	28	$	10

Schedule of Effective Income Tax Rate Reconciliation

Income tax expense for the period is a result of the Texas “Gross Margin” tax in the case of the state tax expense and taxable profits in Ireland and Singapore in the case of the foreign tax expense.

	Year ended December 31,
(in thousands)	2020			2019			2018
U.S. federal taxes at statutory rate		21.00	%		21.00	%		21.00	%
State taxes, net of federal benefit		4.91			3.25			3.45
Foreign tax rate differentials		0.66			0.33			(0.15	)
Research and development credit		4.97			3.24			(0.46	)
Stock-based compensation		16.97			0.38			(0.83	)
Permanent differences, other		(8.17	)		(3.77	)		(1.83	)
Change in valuation allowance		(40.41	)		(24.50	)		(22.30	)
Other		—			—			1.09
Effective tax rate		(0.07	)%		(0.07	)%		(0.03	)%

Significant Components of Deferred Taxes

Significant components of deferred taxes are as follows:

	December 31,
(in thousands)	2020			2019
Deferred tax assets:
Net operating loss and credit carryforwards	$	52,216		$	36,373
Lease liabilities		3,868			3,854
Deferred revenue		426			871
Depreciation and amortization		8,381			9,144
Stock-based compensation		2,401			682
Other		1,721			702
Gross deferred tax assets	$	69,013		$	51,626
Valuation allowance		(62,917	)		(46,784	)
Deferred tax liabilities:
Capitalized software costs		—			(478	)
Deferred commission		(1,448	)		(752	)
Right-of-use assets		(2,904	)		(2,887	)
Prepaid expenses and other		(1,744	)		(725	)
Gross deferred tax liabilities		(6,096	)		(4,842	)
Net deferred tax assets	$	—		$	—

Net Loss per Share (Tables)

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Schedule of Antidilutive Securities Outstanding Excluded from Computation of Diluted Weighted-Average Shares Outstanding

	Year ended December 31,
(in thousands)	2020		2019		2018
Preferred stock as-converted		—		34,442		34,442
Stock options outstanding		8,215		9,327		9,006
Warrants to purchase common stock		—		364		352
Restricted stock units		1,408		—		—
Convertible debt		—		2,180		2,180
Total potentially dilutive securities		9,623		46,313		45,980

Quarterly Results of Operations (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Results of Operations

	Three months ended
	December 31, 2020			September 30, 2020			June 30, 2020			March 31, 2020			December 31, 2019			September 30, 2019			June 30, 2019			March 31, 2019

Revenue	$	43,143		$	39,735		$	36,316		$	33,174		$	31,020		$	28,264		$	27,235		$	25,584
Cost of revenue		10,216			8,593			7,837			7,480			8,065			6,806			6,227			5,925
Gross profit		32,927			31,142			28,479			25,694			22,955			21,458			21,008			19,659
Operating expenses:
Sales and marketing		20,577			19,328			16,803			15,762			15,295			15,346			15,963			14,136
Research and development		13,942			12,124			11,345			10,921			10,961			10,862			10,468			10,832
General and administrative		12,212			9,745			7,714			6,466			6,456			5,527			5,222			4,999
Total operating expenses		46,731			41,197			35,862			33,149			32,712			31,735			31,653			29,967
Loss from operations		(13,804	)		(10,055	)		(7,383	)		(7,455	)		(9,757	)		(10,277	)		(10,645	)		(10,308	)
Interest income		11			2			17			1			—			4			86			155
Interest expense		(448	)		(741	)		(1,152	)		(762	)		(483	)		(359	)		(410	)		(360	)
Change in fair value of financial instruments		—			—			—			4,413			—			—			—			—
Other expense		59			(75	)		40			(203	)		(45	)		(86	)		(56	)		(21	)
Loss before provision for income taxes		(14,182	)		(10,869	)		(8,478	)		(4,006	)		(10,285	)		(10,718	)		(11,025	)		(10,534	)
Provision for income taxes		19			(14	)		3			17			7			7			7			7
Net loss	$	(14,201	)	$	(10,855	)	$	(8,481	)	$	(4,023	)	$	(10,292	)	$	(10,725	)	$	(11,032	)	$	(10,541	)
Dividends and accretion of issuance costs on Series F preferred stock	$	—		$	2,732		$	(1,953	)	$	(1,745	)	$	(1,909	)	$	(1,865	)	$	(1,798	)	$	(1,736	)
Net loss attributable to common stockholders	$	(14,201	)	$	(8,123	)	$	(10,434	)	$	(5,768	)	$	(12,201	)	$	(12,590	)	$	(12,830	)	$	(12,277	)
Basic and diluted net loss per share attributable to common stockholders	$	(0.21	)	$	(0.16	)	$	(0.54	)	$	(0.31	)	$	(0.67	)	$	(0.70	)	$	(0.73	)	$	(0.70	)
Weighted average shares used to compute basic and diluted net loss per share attributable to common stockholders		68,638			49,355			19,149			18,645			18,286			17,959			17,592			17,487

Overview - Additional Information (Details)				12 Months Ended
Overview - Additional Information (Details)	Nov. 12, 2020 USD ($) $ / shares shares	Aug. 04, 2020 USD ($) $ / shares shares	Jul. 24, 2020 $ / shares shares	Dec. 31, 2020 USD ($) $ / shares shares	Dec. 31, 2019 $ / shares
Overview [Line Items]
Entity incorporation date				Feb. 28, 2013
Common stock, par value \| $ / shares				$ 0.0001	$ 0.0001
Net proceeds after deducting underwriting discounts and commissions \| $				$ 171,129,000
Proceeds from issuance of common stock upon secondary offering, net of underwriting discounts and commissions and other offerings costs \| $				$ 65,112,000
Series 1 Common Stock
Overview [Line Items]
Common stock, shares authorized				500,000,000
Stock sold at underwriters option				65,406,000
Net proceeds after deducting underwriting discounts and commissions \| $		$ 171,100,000
Proceeds from issuance of common stock upon secondary offering, net of underwriting discounts and commissions and other offerings costs \| $	$ 65,100,000
Series 2 Common Stock
Overview [Line Items]
Common stock, shares authorized				5,051,000
Stock sold at underwriters option				4,106,000
Initial Public Offering
Overview [Line Items]
Reverse stock split description			one-for-three
Reverse stock split, conversion ratio			0.3333
Preferred stock, authorized shares			109,030,573
Common stock, par value \| $ / shares			$ 0.0001
Proceeds from issuance of stock \| $		$ 0
Initial Public Offering \| Series 1 Common Stock
Overview [Line Items]
Common stock, shares authorized			205,000,000
Issuance of common stock upon initial public offering, net of underwriting discounts and commissions and other offering costs, shares		7,877,500
Stock sold at underwriters option		1,027,500
Stock issued price per share \| $ / shares		$ 24.00
Initial Public Offering \| Series 2 Common Stock
Overview [Line Items]
Common stock, shares authorized			45,000,000
Underwriters’ Option to Purchase Additional Shares \| Series 1 Common Stock
Overview [Line Items]
Stock sold at underwriters option	750,000	325,435
Stock issued price per share \| $ / shares	$ 68.00	$ 24.00
Additional shares sold by existing shareholders	4,750,000	2,495,000
Secondary Offering \| Series 1 Common Stock
Overview [Line Items]
Issuance of common stock upon initial public offering, net of underwriting discounts and commissions and other offering costs, shares	1,000,000
Stock issued price per share \| $ / shares	$ 68.00

Summary of Significant Accounting Policies - Schedule of Revenue by Geographic Region (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenue	$ 43,143	$ 39,735	$ 36,316	$ 33,174	$ 31,020	$ 28,264	$ 27,235	$ 25,584	$ 152,368	$ 112,103	$ 91,867
Americas – U.S.
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenue									120,934	91,057	75,025
Americas – other
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenue									5,371	3,761	3,000
EMEA
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenue									12,396	7,370	6,123
APAC
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenue									$ 13,667	$ 9,915	$ 7,719

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

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

+ Details

Summary of Significant Accounting Policies - Schedule of Long-lived Assets by Geographic Region (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Revenues From External Customers And Long Lived Assets [Line Items]
Total long-lived assets	$ 7,122	$ 8,241
Americas – U.S.
Revenues From External Customers And Long Lived Assets [Line Items]
Total long-lived assets	6,596	7,699
APAC
Revenues From External Customers And Long Lived Assets [Line Items]
Total long-lived assets	$ 526	$ 542

Summary of Significant Accounting Policies - Additional Information (Details) $ in Thousands		12 Months Ended
	Jan. 01, 2020 USD ($)	Dec. 31, 2020 USD ($) Customer	Dec. 31, 2019 USD ($) Customer	Dec. 31, 2018 USD ($) Customer
Summary Of Significant Accounting Policies [Line Items]
Accounts receivable including unbilled receivables		$ 7,500	$ 4,000
Concentration risk, number of customer \| Customer		1	1	1
Advertising expenses		$ 12,900	$ 11,800	$ 8,900
Accumulated deficit		$ (313,391)	$ (274,549)
Cumulative Effect, Period of Adoption, Adjustment \| Revision of Prior Period, Adjustment
Summary Of Significant Accounting Policies [Line Items]
Accumulated deficit	$ (400)
Customer Concentration Risk \| Revenue
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage		15.00%	12.00%	12.00%
Customer Concentration Risk \| Accounts Receivable
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage		24.00%	20.00%	22.00%
ASU 2016-13
Summary Of Significant Accounting Policies [Line Items]
Increase in the allowance for credit losses	$ 400
ASU 2018-07
Summary Of Significant Accounting Policies [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]		true
Change in Accounting Principle, Accounting Standards Update, Adoption Date		Jan. 01, 2020
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false]		true
ASU 2018-15
Summary Of Significant Accounting Policies [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]		true
Change in Accounting Principle, Accounting Standards Update, Adoption Date		Jan. 01, 2020
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false]		true
ASU 2019-12
Summary Of Significant Accounting Policies [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]		true
Change in Accounting Principle, Accounting Standards Update, Adoption Date		Jan. 01, 2019
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false]		true
Minimum
Summary Of Significant Accounting Policies [Line Items]
Account receivable payment terms		Due immediately
Maximum
Summary Of Significant Accounting Policies [Line Items]
Account receivable payment terms		Due within 90 days

Summary of Significant Accounting Policies - Schedule of Allowance for Credit Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Financing Receivable Allowance For Credit Losses [Line Items]
Beginning Balance	$ 1,167	$ 597	$ 376
Provision for expected credit losses	1,594	988	341
Accounts written off	(1,133)	(418)	(120)
Ending Balance	1,992	$ 1,167	$ 597
Cumulative Effect, Period of Adoption, Adjustment \| ASU 2016-13
Financing Receivable Allowance For Credit Losses [Line Items]
Ending Balance	$ 364

Summary of Significant Accounting Policies - Schedule of Estimated Useful Lives of Property and Equipment (Details)	12 Months Ended
	Dec. 31, 2020
Computer Equipment
Property Plant And Equipment [Line Items]
Estimated useful lives of property and equipment	3 years
Computer Software
Property Plant And Equipment [Line Items]
Estimated useful lives of property and equipment	3 years
Furniture and Fixtures
Property Plant And Equipment [Line Items]
Estimated useful lives of property and equipment	5 years
Leasehold Improvements \| Minimum
Property Plant And Equipment [Line Items]
Estimated useful lives of property and equipment	1 year
Leasehold Improvements \| Maximum
Property Plant And Equipment [Line Items]
Estimated useful lives of property and equipment	10 years

Revenue Recognition and Deferred Costs - Schedule of Disaggregate Revenue by Major Source (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation Of Revenue [Line Items]
Total revenue	$ 43,143	$ 39,735	$ 36,316	$ 33,174	$ 31,020	$ 28,264	$ 27,235	$ 25,584	$ 152,368	$ 112,103	$ 91,867
Subscription Solutions
Disaggregation Of Revenue [Line Items]
Total revenue									103,706	82,689	70,484
Partner and Services
Disaggregation Of Revenue [Line Items]
Total revenue									$ 48,662	$ 29,414	$ 21,383

- Definition

+ References

+ Details

Revenue Recognition and Deferred Costs - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation Of Revenue [Line Items]
Amortization of deferred sales commissions estimated period	4 years
Impairment of deferred commissions	$ 0	$ 0
Deferred sales commissions	4,500,000	2,500,000	$ 2,000,000
Deferred commission amortization expense	$ 2,200,000	$ 1,600,000	$ 1,200,000
Subscription Solutions \| Minimum
Disaggregation Of Revenue [Line Items]
Contract with customer period	1 year
Subscription Solutions \| Maximum
Disaggregation Of Revenue [Line Items]
Contract with customer period	3 years

Revenue Recognition and Deferred Costs - Additional Information (Details 1) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2020-01-01 $ in Millions	12 Months Ended
	Dec. 31, 2020 USD ($)
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations	$ 86.9
Remaining performance obligations, percentage	55.00%
Remaining performance obligations, satisfaction period	12 months
Revenue, expected recognition period, explanation	We expect to recognize approximately 55% of the remaining performance obligations as revenue in the next 12 months, and the remaining balance in the periods thereafter.

Fair Value Measurements - Additional Information (Details) $ in Millions	Dec. 31, 2020 USD ($)
Cash Equivalents \| Level 1
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Marketable securities	$ 196.5

Property and Equipment - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 20,607	$ 18,636
Less: accumulated depreciation and amortization	(13,485)	(10,395)
Property and equipment, net	7,122	8,241
Computer Software
Property Plant And Equipment [Line Items]
Property and equipment, gross	2,347	1,788
Computer Equipment
Property Plant And Equipment [Line Items]
Property and equipment, gross	7,938	6,816
Furniture and Fixtures
Property Plant And Equipment [Line Items]
Property and equipment, gross	2,379	2,198
Leasehold Improvements
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 7,943	$ 7,834

Property and Equipment - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property Plant And Equipment [Abstract]
Depreciation expense on property and equipment	$ 3.1	$ 2.6	$ 1.8

Commitment, Contingencies, and Leases - Schedule of Unconditional Purchase Obligations (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Commitments Contingencies And Leases [Abstract]
2021	$ 6,122
2022	4,333
Total	$ 10,455

Commitment, Contingencies, and Leases - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Commitments Contingencies And Leases [Abstract]
Liability related to indemnification obligations	$ 0	$ 0
Operating lease, expiration year	2028
Operating rent expense	$ 3,700,000	3,200,000	$ 2,500,000
Short-term rent expenses	$ 400,000	$ 300,000

Commitment, Contingencies, and Leases - Schedule of Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Commitments Contingencies And Leases [Abstract]
Cash paid for operating lease liabilities	$ 3,666	$ 3,224
Right-of-use assets obtained in exchange for operating lease obligations		$ 2,714

Commitment, Contingencies, and Leases - Schedule of Operating Lease Information (Details)	Dec. 31, 2020	Dec. 31, 2019
Commitments Contingencies And Leases [Abstract]
Weighted-average remaining lease-term	6 years	6 years 9 months 18 days
Weighted-average discount rate	5.42%	5.50%

Commitment, Contingencies, and Leases - Schedule of Future Maturities of Operating Lease Liabilities (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Commitments Contingencies And Leases [Abstract]
2021	$ 3,928
2022	3,062
2023	2,484
2024	2,243
2025	2,011
Thereafter	4,923
Total minimum lease payments	18,651
Less imputed interest	(2,806)
Total lease liabilities	$ 15,845

Other Liabilities - Components of Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Other Liabilities Disclosure [Abstract]
Sales tax payable	$ 814	$ 551
Payroll and payroll related expenses	18,255	6,126
Other	3,107	3,027
Other current liabilities	$ 22,176	$ 9,704

Debt - Additional Information (Details) - USD ($)			3 Months Ended	12 Months Ended
Debt - Additional Information (Details) - USD ($)	Feb. 28, 2020	Oct. 27, 2017	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Sep. 30, 2020	Jun. 04, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Conversion of convertible debt into common stock upon initial public offering				$ 50,173,000
Gain on fair value of put option			$ 4,413,000	4,413,000
Net unamortized fees				0	$ 900,000
Mezzanine facility \| WestRiver
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity	$ 10,000,000
Credit facility, maturity date	Nov. 06, 2020
Credit facility, outstanding amount				$ 0
Debt instrument, maturity date	Mar. 01, 2023
Credit facility, interest rate terms				Borrowings under the Mezzanine Facility bear interest at the greater of (i) 10.0% or (ii) the prime rate then in effect plus 5.25%. Interest is calculated on the outstanding principal on a 360-day year basis, payable monthly.
Warrants, exercise price per share	$ 9.21
Warrants expiration date	Mar. 01, 2023
Fair value of warrants issued	$ 300,000
Mezzanine facility \| WestRiver \| Minimum
Debt Instrument [Line Items]
Credit facility, weighted-average effective interest rate	10.00%
Mezzanine facility \| WestRiver \| Maximum
Debt Instrument [Line Items]
Warrants to purchase shares of common stock	99,000
Revolving Line \| A&R Credit Facility
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity	$ 20,000,000					$ 10,000,000
Credit facility, increase (decrease) in borrowing capacity	$ 5,000,000
Credit facility, covenant to maintain revenue growth rate of each quarter compared to same quarter in prior year	118.00%
Credit facility, covenant to maintain minimum liquidity ratio	1.50%
Credit facility, covenant terms				We are required to maintain a revenue growth rate of 118% each quarter compared to the same quarter in the prior year. The other covenant requires us to maintain a minimum liquidity ratio of 1.5:1. The liquidity ratio is calculated as unrestricted and unencumbered cash plus sixty percent of net accounts receivable to balance outstanding under the Revolving Line.
Credit facility, covenant compliance				we had no compliance requirements as of December 31, 2020
Converted Within 18 Months
Debt Instrument [Line Items]
Conversion of required minimum return	1.25
Converted Between 18 Months and 24 Months
Debt Instrument [Line Items]
Conversion of required minimum return	1.32
Converted Between 24 Months and Maturity
Debt Instrument [Line Items]
Conversion of required minimum return	1.55
Prime Rate \| Mezzanine facility \| WestRiver
Debt Instrument [Line Items]
Variable interest rate	5.25%
Silicon Valley Bank \| Revolving Line
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity		$ 20,000,000		$ 10,000,000		$ 20,000,000	$ 25,000,000
Line of credit facility increase the amended							$ 5,000,000
Credit facility, maturity date		Oct. 27, 2021
Credit facility, weighted-average effective interest rate				3.60%	5.30%			5.20%
Debt instrument, frequency of payment		monthly
Credit facility, outstanding amount					$ 18,500,000
Convertible Term Loan \| Silicon Valley Bank
Debt Instrument [Line Items]
Debt principal amount		$ 20,000,000
Weighted average interest rate				5.80%	5.40%			4.90%
Quarterly principal payments		$ 125,000
Convertible Term Loan \| Silicon Valley Bank \| Prime Rate \| After January 1, 2020
Debt Instrument [Line Items]
Variable interest rate		2.00%
Convertible Term Loan \| Silicon Valley Bank \| Prime Rate \| After January 1, 2021
Debt Instrument [Line Items]
Variable interest rate		4.00%
Convertible Term Loan \| Silicon Valley Bank \| Prime Rate \| After January 1, 2022
Debt Instrument [Line Items]
Variable interest rate		6.00%
2020 Convertible Loan
Debt Instrument [Line Items]
Derivative liability				$ 4,400,000
Interest expense				$ 400
2020 Convertible Loan \| Silicon Valley Bank
Debt Instrument [Line Items]
Debt principal amount	$ 35,000,000
Initial public offering completion date	Aug. 05, 2020
Conversion of convertible debt into common stock upon initial public offering	$ 35,000,000
Conversion of debt to shares	3,070,174
Weighted average interest rate				4.00%
2020 Convertible Loan \| Silicon Valley Bank \| Prime Rate \| Prior to January 1, 2022
Debt Instrument [Line Items]
Variable interest rate	4.50%
2020 Convertible Loan \| Silicon Valley Bank \| Prime Rate \| From January 1, 2022 and Prior to January 1, 2023
Debt Instrument [Line Items]
Variable interest rate	6.50%
2020 Convertible Loan \| Silicon Valley Bank \| Prime Rate \| From January 1, 2023 and Prior to January 1, 2024
Debt Instrument [Line Items]
Variable interest rate	8.50%
2020 Convertible Loan \| Silicon Valley Bank \| Prime Rate \| From and After January 1, 2024
Debt Instrument [Line Items]
Variable interest rate	10.50%
2018 Term Loan \| Silicon Valley Bank
Debt Instrument [Line Items]
Credit facility, maturity date		Oct. 01, 2021
Credit facility, weighted-average effective interest rate				4.20%	5.30%			5.20%
Debt instrument, frequency of payment		monthly
Credit facility, outstanding amount				$ 0	$ 3,300,000
Credit facility, maturity period		36 months
Credit facility, payment commencement date		Oct. 01, 2018
2018 Term Loan \| Silicon Valley Bank \| Revolving Line
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity		$ 5,000,000
2018 Term Loan \| Silicon Valley Bank \| Prime Rate
Debt Instrument [Line Items]
Variable interest rate		0.25%
Series 1 Common Stock \| Convertible Term Loan \| Silicon Valley Bank
Debt Instrument [Line Items]
Initial public offering completion date		Aug. 05, 2020
Repayment of paid principal amount		$ 1,100,000
Conversion of convertible debt into common stock upon initial public offering		$ 18,900,000
Conversion of debt to shares		2,179,360

Stockholders' Equity (Deficit) - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Aug. 04, 2020	Jul. 31, 2020
Class Of Stock [Line Items]
Common stock granted	1,384,000	2,266,000
Shares returned termination of options	443,000	846,000
Fair value assumptions, expected dividend yield	0.00%
Total intrinsic value of options exercised during the period	$ 72.4	$ 5.6	$ 2.6
Weighted-average grant date fair value of options granted	9.6	8.1	6.3
Unamortized stock-based compensation cost related to unvested stock options	$ 11.4	$ 9.4	$ 6.2
Weighted-average period for recognition of unamortized stock-based compensation cost	3 years
Granted, shares	1,408,000
Preferred stock issued	0
Preferred stock outstanding	0
Restricted Stock Units
Class Of Stock [Line Items]
Weighted-average period for recognition of unamortized stock-based compensation cost	3 years 8 months 12 days
Unrecognized stock-based compensation costs	$ 10.4
Performance Shares
Class Of Stock [Line Items]
Weighted-average period for recognition of unamortized stock-based compensation cost	1 year 10 months 24 days
Unrecognized stock-based compensation costs	$ 10.4
Series 1 Common Stock
Class Of Stock [Line Items]
Conversion of stock, converted into aggregate shares		29,390,733
Series 1 Common Stock \| Initial Public Offering
Class Of Stock [Line Items]
Stock issued price per share				$ 24.00
Series 2 Common Stock
Class Of Stock [Line Items]
Conversion of stock, converted into aggregate shares		5,050,555
Series F Preferred Stock
Class Of Stock [Line Items]
Dividend rate	10.00%	10.00%
Adjusted dividend rate		8.00%
Cumulative dividends		$ 12.8
Series F Preferred Stock \| Initial Public Offering
Class Of Stock [Line Items]
Stock issued price per share		$ 24
2020 Equity incentive plan
Class Of Stock [Line Items]
Common stock authorized and reserved for issuance	14,204,189,000
Common stock granted	9,182,043,000
Shares reserved for vesting of restricted stock units and market stock units	1,407,811,000
Shares returned termination of options	181,750,000
Common stock available for future issuance	3,796,085,000
2020 Equity incentive plan \| Series 1 Common Stock
Class Of Stock [Line Items]
Common stock authorized and reserved for issuance					3,873,885
2020 Equity incentive plan \| Series 1 and Series 2 Common Stock
Class Of Stock [Line Items]
Percentage of common stock issued and outstanding					5.00%
2013 Plan
Class Of Stock [Line Items]
Common stock available for future issuance	0
2013 Plan \| Series 1 Common Stock
Class Of Stock [Line Items]
Shares available for grant					10,330,304
2020 Plan \| Restricted Stock Units \| Management and Certain Other Employees
Class Of Stock [Line Items]
Weighted-average requisite service period	4 years
Granted, shares	192,000
2013 Plan \| Performance Shares \| Management and Certain Other Employees
Class Of Stock [Line Items]
Granted, shares	1,216,000
2013 Plan \| Performance Shares \| Management and Certain Other Employees \| Maximum
Class Of Stock [Line Items]
Weighted-average requisite service period	4 years
2013 Plan \| Performance Shares \| Management and Certain Other Employees \| Minimum
Class Of Stock [Line Items]
Weighted-average requisite service period	1 year

Stockholders' Equity (Deficit) - Summarizes the Weighted-Average Grant Date Value of Options (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted-average grant date fair value of options	$ 7.01	$ 1.20	$ 0.42
Dividend yield	0.00%
Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Risk-free interest rate	0.34%	1.51%	2.43%
Expected volatility	49.64%	46.70%	47.22%
Expected life in years	5 years 5 months 26 days	5 years 6 months 7 days	5 years
Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Risk-free interest rate	0.84%	2.53%	3.09%
Expected volatility	51.49%	47.87%	49.13%
Expected life in years	6 years 1 month 6 days	6 years 29 days	6 years 29 days

Stockholders' Equity (Deficit) - Summary of Changes in Common Stock Options Issued under Existing Stock Option Plans (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Equity [Abstract]
Option outstanding at beginning of period (in shares)	9,327	9,006
Option outstanding, granted (in shares)	1,384	2,266
Option outstanding, exercised (in shares)	(2,053)	(1,099)
Option outstanding, forfeited (in shares)	(443)	(846)
Options outstanding at ending of period (in shares)	8,215	9,327	9,006
Options outstanding, vested and expected to vest	7,578
Options outstanding, vested (in shares)	4,072
Weighted average of exercise prices at beginning of period (in dollars per share)	$ 2.22	$ 1.71
Weighted average of exercise prices, granted (in dollars per share)	14.85	3.45
Weighted average of exercise prices, exercised (in dollars per share)	2.25	1.17
Weighted average of exercise prices, forfeited (in dollars per share)	5.33	1.98
Weighted average of exercise prices at end of period (in dollars per share)	4.30	$ 2.22	$ 1.71
Weighted average of exercise prices, vested and expected to vest (in dollars per share)	4.03
Weighted average of exercise prices, vested (in dollars per share)	$ 1.99
Weighted average of remaining term (years)	7 years 7 months 24 days	8 years 2 months 1 day	8 years 7 months 6 days
Weighted average of remaining term, vested and expected to vest at December 31, 2020 (years)	7 years 6 months 29 days
Weighted average of remaining term, vested at December 31, 2020 (years)	6 years 10 months 6 days
Aggregate intrinsic value, options outstanding	$ 491,648	$ 65,294	$ 13,327
Aggregate intrinsic value, vested and expected to vest at December 31, 2020	456,531
Aggregate intrinsic value, vested at December 31, 2020	$ 253,117

Stockholders' Equity (Deficit) - Summary of RSU Activity (Details) shares in Thousands	12 Months Ended
	Dec. 31, 2020 $ / shares shares
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Granted, shares \| shares	1,408
Nonvested shares, ending period \| shares	1,408
Granted, Weighted average grant date fair value \| $ / shares	$ 24.67
Nonvested, Weighted average grant date fair value ending period \| $ / shares	$ 24.67

Stockholders' Equity (Deficit) - Summary of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	$ 11,058	$ 3,156	$ 2,071
Cost of Revenue
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	769	191	82
Sales and Marketing
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	3,310	838	388
Research and Development
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	2,500	666	432
General and Administrative
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	$ 4,479	$ 1,461	$ 1,169

Income Taxes - Schedule of Pretax Earnings from Continuing Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
United States	$ (31,891)	$ (38,720)	$ (38,471)
Non-U.S.	(5,644)	(3,842)	(397)
Total pre-tax earnings	$ (37,535)	$ (42,562)	$ (38,868)

Income Taxes - Schedule Components of Provision for Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current:
Federal										$ 0	$ 0
State									$ 24	25	10
Foreign									1	3	0
Total current									25	28	10
Deferred:
Federal										0	0
State										0	0
Foreign										0	0
Total deferred										0	0
Total provision (benefit)	$ 19	$ (14)	$ 3	$ 17	$ 7	$ 7	$ 7	$ 7	$ 25	$ 28	$ 10

Income Taxes - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
U.S. statutory tax rate	21.00%	21.00%	21.00%
Operating loss carryforwards, domestic	$ 168,900,000
Operating loss carryforwards domestic prior year	120,400,000
Deferred tax assets operating loss carryforwards domestic to future period	$ 48,500,000
Operating loss carryforwards, expiration period	2036
State credit carryforwards	$ 66,500,000
Net operating loss expiration year	2036
Operating loss carryforwards, foreign	$ 11,400,000
Research and development tax credit carryforwards	$ 5,200,000
Tax credits begin to expiration year	2034
Increase in valuation allowance	$ 16,100,000
Tax years remain open to examination	2017 2018 2019 2020
Unrecognized tax benefit	$ 0
Material interest or penalties	$ 0	$ 0

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
U.S. statutory tax rate	21.00%	21.00%	21.00%
State taxes, net of federal benefit	4.91%	3.25%	3.45%
Foreign tax rate differentials	0.66%	0.33%	(0.15%)
Research and development credit	4.97%	3.24%	(0.46%)
Stock-based compensation	16.97%	0.38%	(0.83%)
Permanent differences, other	(8.17%)	(3.77%)	(1.83%)
Change in valuation allowance	(40.41%)	(24.50%)	(22.30%)
Other			1.09%
Effective tax rate	(0.07%)	(0.07%)	(0.03%)

Income Taxes - Significant Components of Deferred Taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets:
Net operating loss and credit carryforwards	$ 52,216	$ 36,373
Lease liabilities	3,868	3,854
Deferred revenue	426	871
Depreciation and amortization	8,381	9,144
Stock-based compensation	2,401	682
Other	1,721	702
Gross deferred tax assets	69,013	51,626
Valuation allowance	(62,917)	(46,784)
Deferred tax liabilities:
Capitalized software costs		(478)
Deferred commission	(1,448)	(752)
Right-of-use assets	(2,904)	(2,887)
Prepaid expenses and other	(1,744)	(725)
Gross deferred tax liabilities	$ (6,096)	$ (4,842)

Net Loss per Share - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Total undistributed loss is allocated to preferred stock, diluted	$ 0
Total undistributed loss is allocated to preferred stock, basic	$ 0
Series F Preferred Stock
Dividend rate	10.00%	10.00%

Net Loss per Share - Schedule of Antidilutive Securities Outstanding Excluded from Computation of Diluted Weighted-Average Shares Outstanding (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities outstanding excluded from computation of diluted weighted-average shares outstanding	9,623	46,313	45,980
Preferred Stock as-Converted
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities outstanding excluded from computation of diluted weighted-average shares outstanding		34,442	34,442
Stock Options Outstanding
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities outstanding excluded from computation of diluted weighted-average shares outstanding	8,215	9,327	9,006
Warrants to Purchase Common Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities outstanding excluded from computation of diluted weighted-average shares outstanding		364	352
Restricted Stock Units
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities outstanding excluded from computation of diluted weighted-average shares outstanding	1,408
Convertible Debt
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities outstanding excluded from computation of diluted weighted-average shares outstanding		2,180	2,180

Quarterly Results of Operations (Unaudited) - Schedule of Quarterly Results of Operations (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Revenue	$ 43,143	$ 39,735	$ 36,316	$ 33,174	$ 31,020	$ 28,264	$ 27,235	$ 25,584	$ 152,368	$ 112,103	$ 91,867
Cost of revenue	10,216	8,593	7,837	7,480	8,065	6,806	6,227	5,925	34,126	27,023	21,937
Gross profit	32,927	31,142	28,479	25,694	22,955	21,458	21,008	19,659	118,242	85,080	69,930
Operating expenses:
Sales and marketing	20,577	19,328	16,803	15,762	15,295	15,346	15,963	14,136	72,470	60,740	45,928
Research and development	13,942	12,124	11,345	10,921	10,961	10,862	10,468	10,832	48,332	43,123	42,485
General and administrative	12,212	9,745	7,714	6,466	6,456	5,527	5,222	4,999	36,137	22,204	19,497
Total operating expenses	46,731	41,197	35,862	33,149	32,712	31,735	31,653	29,967	156,939	126,067	107,910
Loss from operations	(13,804)	(10,055)	(7,383)	(7,455)	(9,757)	(10,277)	(10,645)	(10,308)	(38,697)	(40,987)	(37,980)
Interest income	11	2	17	1		4	86	155	31	245	653
Interest expense	(448)	(741)	(1,152)	(762)	(483)	(359)	(410)	(360)	(3,103)	(1,612)	(1,489)
Change in fair value of financial instruments				4,413					4,413
Other expense	59	(75)	40	(203)	(45)	(86)	(56)	(21)	(179)	(208)	(52)
Loss before provision for income taxes	(14,182)	(10,869)	(8,478)	(4,006)	(10,285)	(10,718)	(11,025)	(10,534)	(37,535)	(42,562)	(38,868)
Provision for income taxes	19	(14)	3	17	7	7	7	7	25	28	10
Net loss	(14,201)	(10,855)	(8,481)	(4,023)	(10,292)	(10,725)	(11,032)	(10,541)	(37,560)	(42,590)	(38,878)
Dividends and accretion of issuance costs on Series F preferred stock		2,732	(1,953)	(1,745)	(1,909)	(1,865)	(1,798)	(1,736)	(962)	(7,308)	(4,712)
Net loss attributable to common stockholders	$ (14,201)	$ (8,123)	$ (10,434)	$ (5,768)	$ (12,201)	$ (12,590)	$ (12,830)	$ (12,277)	$ (38,522)	$ (49,898)	$ (43,590)
Basic and diluted net loss per share attributable to common stockholders	$ (0.21)	$ (0.16)	$ (0.54)	$ (0.31)	$ (0.67)	$ (0.70)	$ (0.73)	$ (0.70)	$ (0.99)	$ (2.80)	$ (2.59)
Weighted average shares used to compute basic and diluted net loss per share attributable to common stockholders	68,638	49,355	19,149	18,645	18,286	17,959	17,592	17,487	39,092	17,834	16,807