0001107843-24-000008 | 10-K | XBRL Viewer

Accumulated Other Comprehensive Income (Loss)

The components and changes in accumulated other comprehensive income (loss) were as follows:


	Available-for-sale debt securities		Cash flow hedges		Total
	(in thousands)
Balances at December 31, 2020	$	1,224	$	(1,708)	$	(484)
Change in unrealized gains (losses) during the period	(1,854)		2,837		983
Amount reclassified into income during the period	22		933		955
Tax effect	423		(870)		(447)
Net change during the period	(1,409)		2,900		1,491
Balances at December 31, 2021	(185)		1,192		1,007
Change in unrealized gains (losses) during the period	(2,462)		581		(1,881)
Amount reclassified into income during the period	—		(1,147)		(1,147)
Tax effect	(58)		132		74
Net change during the period	(2,520)		(434)		(2,954)
Balances at December 31, 2022	(2,705)		758		(1,947)
Change in unrealized gains (losses) during the period	2,858		(1,362)		1,496
Amount reclassified into income during the period	(16)		(1,957)		(1,973)
Tax effect	(29)		749		720
Net change during the period	2,813		(2,570)		243
Balances at December 31, 2023	$	108	$	(1,812)	$	(1,704)

The effects on income before income taxes of amounts reclassified from AOCI to the consolidated statements of operations were as follows:


	Year Ended December 31,
	2023		2022		2021

	(in thousands)
Reclassification of AOCI - Available-for-sale debt securities
Other income (expense), net	$	16	$	—	$	(22)

Reclassification of AOCI - Cash flow hedges
Revenues	$	3,077	$	1,897	$	(1,667)
Cost of revenues	(258)		(169)		149
Research and development	(712)		(478)		492
Sales and marketing	(44)		(30)		28
General and administrative	(106)		(73)		65
Total	$	1,957	$	1,147	$	(933)

Property and Equipment, Net - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property and equipment, net	$ 32,599	$ 47,428
Depreciation and amortization	23,900	28,200	$ 28,500
Scanner Appliances and Other Computer Equipment Subject To Subscription
Property, Plant and Equipment [Line Items]
Property and equipment, net	10,100	6,700
Scanner Appliances and Other Computer Equipment Not Placed In Service
Property, Plant and Equipment [Line Items]
Property and equipment, net	$ 6,400	$ 4,000

Revenue from Contracts with Customers - Expected Revenue from All Remaining Performance Obligations (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Revenue from External Customer [Line Items]
Revenue, remaining performance obligation	$ 374,415
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue from External Customer [Line Items]
Revenue, remaining performance obligation	$ 200,872
Revenue, remaining performance obligation	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue from External Customer [Line Items]
Revenue, remaining performance obligation	$ 122,465
Revenue, remaining performance obligation	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue from External Customer [Line Items]
Revenue, remaining performance obligation	$ 46,327
Revenue, remaining performance obligation	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Revenue from External Customer [Line Items]
Revenue, remaining performance obligation	$ 4,291
Revenue, remaining performance obligation	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01
Revenue from External Customer [Line Items]
Revenue, remaining performance obligation	$ 397
Revenue, remaining performance obligation	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01
Revenue from External Customer [Line Items]
Revenue, remaining performance obligation	$ 63
Revenue, remaining performance obligation

Net Income Per Share - Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Numerator:
Net income	$ 151,595	$ 107,992	$ 70,960
Denominator:
Basic weighted average shares (in shares)	36,879	38,453	39,030
Effect of potentially dilutive shares:
Stock options (in shares)	482	672	863
Restricted stock units (in shares)	237	216	224
Employee stock purchase plan (in shares)	4	3	1
Diluted weighted average shares (in shares)	37,602	39,344	40,118
Net income per share:
Basic (in USD per share)	$ 4.11	$ 2.81	$ 1.82
Diluted (in USD per share)	$ 4.03	$ 2.74	$ 1.77

Stockholders' Equity and Stock-based Compensation - Summary of Restricted Stock Unit Activity (Details) - $ / shares shares in Thousands						1 Months Ended		9 Months Ended	12 Months Ended
	Oct. 26, 2023	Jul. 27, 2023	Feb. 06, 2023	Oct. 27, 2022	Oct. 28, 2021	Feb. 28, 2021	Feb. 29, 2020	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restricted stock units
Outstanding RSUs
Beginning balance (in shares)								1,183	1,183
Granted (in shares)									488
Vested (in shares)						(22)	(15)		(414)
Forfeited (in shares)									(183)
Ending balance (in shares)									1,074	1,183
Outstanding and expected to vest (in shares)									863
Weighted Average Grant Date Fair Value Per Share
Beginning balance (in USD per share)								$ 124.42	$ 124.42
Granted (in USD per share)									140.08
Vested (in USD per share)									116.92
Forfeited (in USD per share)									128.46
Ending balance (in USD per share)									133.60	$ 124.42
Outstanding and expected to vest (in USD per share)									$ 132.53
Performance-based Restricted Stock Units \| Executive Officer 1
Outstanding RSUs
Granted (in shares)										175	175
Performance-based Restricted Stock Units \| Executive Officer
Outstanding RSUs
Granted (in shares)	81	9	6	86	73			10
Performance-based Restricted Stock Units \| Executive Officer 2
Outstanding RSUs
Granted (in shares)											24
Performance-based Restricted Stock Units \| Executive Officer 3
Outstanding RSUs
Granted (in shares)										22	22
Performance-based Restricted Stock Units \| Executive Officer 4
Outstanding RSUs
Granted (in shares)									139	139	139

Insider Trading Arrangements	3 Months Ended	12 Months Ended
Insider Trading Arrangements	Dec. 31, 2023 shares	Dec. 31, 2023 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Jeffrey Hank [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		During the three months ended December 31, 2023, the following director, as defined in Rule 16a-1(f), adopted a “Rule 10b5-1 trading arrangement” as defined in Regulation S-K Item 408, as follows: On November 21, 2023, Jeffrey P. Hank, the chair of our board of directors, adopted a Rule 10b5-1 trading arrangement providing for the sale from time to time of an aggregate of up to 8,850 shares of our common stock plus an additional number of shares to be granted on the date of the Company's 2024 Annual Meeting of Stockholders. Pursuant to the Company's non-employee director compensation program, each non-employee director who has served on our board of directors for at least six months prior to such date will be granted an award of restricted stock units with an intended value (based on the average of the closing prices of our common stock for the 30 trading days ending one week before the applicable grant date) of $200,000. The trading arrangement is intended to satisfy the affirmative defense in Rule 10b5-1(c). The duration of the trading arrangement is until June 30, 2025, or earlier if all transactions under the trading arrangement are completed.
Name	Jeffrey P. Hank
Title	chair of our board of directors
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	November 21, 2023
Arrangement Duration	587 days
Aggregate Available	8,850	8,850

Leases - Minimum Annual Lease Payments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
2024	$ 13,053
2025	7,747
2026	4,498
2027	4,353
2028	1,466
Total minimum lease payments	31,117
Less: interest	(2,375)
Present value of net minimum lease payments	28,742
Less: lease liabilities, current	(11,857)	$ (13,060)
Operating lease liabilities, noncurrent	$ 16,885	$ 29,121

Stockholders' Equity and Stock-based Compensation - Share-based Compensation and Stock Options Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Outstanding Options
Beginning balance (in shares)	1,807
Granted (in shares)	345
Exercised (in shares)	(582)
Canceled (in shares)	(123)
Ending balance (in shares)	1,447	1,807
Weighted Average Exercise Price
Beginning balance (in USD per share)	$ 87.59
Granted (in USD per share)	129.00
Exercised (in USD per share)	78.32
Canceled (in USD per share)	125.39
Ending balance (in USD per share)	$ 97.98	$ 87.59
Stock Options Additional Disclosures
Vested and expected to vest (in shares)	1,271
Vested and expected to vest (in USD per share)	$ 93.44
Weighted average remaining contractual life, balance (in years)	6 years 6 months	6 years 6 months
Weighted average remaining contractual life, vested and expected to vest (in years)	6 years 2 months 12 days
Aggregate Intrinsic Value	$ 142,302	$ 58,024
Vested and expected to vest as of December 31, 2023	$ 130,691
Outstanding options, exercisable (in shares)	739
Weighted average exercise price, exercisable (in USD per share)	$ 68.68
Weighted average remaining contractual life, exercisable (in years)	4 years 6 months
Exercisable as of December 31, 2023	$ 94,272
Intrinsic value of options exercised	$ 41,700	$ 39,800	$ 42,500

Intangible Assets, Net - Carrying Value of Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Aug. 19, 2021
Finite-Lived Intangible Assets [Line Items]
Cost	$ 41,887	$ 41,887
Accumulated Amortization	(32,212)	(29,126)
Total expected future amortization expense	9,675	12,761
Intangible assets not subject to amortization	40	40
Intangible assets, net	$ 9,715	$ 12,801
Developed technology
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life (Years)	4 years 7 months 6 days	4 years 7 months 6 days	5 years
Weighted Average Remaining Life (Years)	1 year 1 month 6 days	1 year 4 months 24 days
Cost	$ 40,141	$ 40,141
Accumulated Amortization	(30,667)	(27,860)
Total expected future amortization expense	$ 9,474	$ 12,281
Patent licenses
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life (Years)	14 years	14 years
Weighted Average Remaining Life (Years)	8 months 12 days	1 year 8 months 12 days
Cost	$ 1,387	$ 1,387
Accumulated Amortization	(1,322)	(1,221)
Total expected future amortization expense	$ 65	$ 166
Assembled workforce
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life (Years)	2 years	2 years
Weighted Average Remaining Life (Years)	9 months 18 days	1 year 8 months 12 days
Cost	$ 359	$ 359
Accumulated Amortization	(223)	(45)
Total expected future amortization expense	$ 136	$ 314

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2023
Auditor Information [Abstract]
Auditor Firm ID	248
Auditor Name	GRANT THORNTON LLP
Auditor Location	San Jose, California

Stockholders' Equity and Stock-based Compensation - Preferred Stock (Details) - $ / shares shares in Thousands	Dec. 31, 2023	Dec. 31, 2022	Oct. 03, 2012
Share-Based Payment Arrangement [Abstract]
Preferred stock, authorized (in shares)	20,000	20,000	20,000
Preferred stock, par value (in USD per share)	$ 0.001	$ 0.001	$ 0.001
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0

Fair Value of Financial Instruments - Summary of Securities in Unrealized Loss Positions (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Less than 12 months
Fair value	$ 68,211	$ 137,965
Gross unrealized losses	(25)	(1,690)
12 months or longer
Fair value	40,374	64,811
Gross unrealized losses	(365)	(1,023)
Total
Fair value	108,585	202,776
Gross unrealized losses	(390)	(2,713)
Commercial paper
Less than 12 months
Fair value	24,838
Gross unrealized losses	(7)
12 months or longer
Fair value	0
Gross unrealized losses	0
Total
Fair value	24,838
Gross unrealized losses	(7)
Foreign government
Less than 12 months
Fair value		998
Gross unrealized losses		(2)
12 months or longer
Fair value		0
Gross unrealized losses		0
Total
Fair value		998
Gross unrealized losses		(2)
Asset-backed securities
Less than 12 months
Fair value	0	13,365
Gross unrealized losses	0	(124)
12 months or longer
Fair value	1,485	1,652
Gross unrealized losses	(6)	(10)
Total
Fair value	1,485	15,017
Gross unrealized losses	(6)	(134)
Corporate bonds
Less than 12 months
Fair value	0	33,800
Gross unrealized losses	0	(389)
12 months or longer
Fair value	20,717	26,326
Gross unrealized losses	(171)	(758)
Total
Fair value	20,717	60,126
Gross unrealized losses	(171)	(1,147)
U.S. Treasury and government agencies
Less than 12 months
Fair value	43,373	89,802
Gross unrealized losses	(18)	(1,175)
12 months or longer
Fair value	18,172	36,833
Gross unrealized losses	(188)	(255)
Total
Fair value	61,545	126,635
Gross unrealized losses	$ (206)	$ (1,430)

Segment and Geographic Area Information - Narrative (Details)	12 Months Ended
	Dec. 31, 2023 segment
Segment Reporting [Abstract]
Number of operating segments	1
Number of reportable segments	1

Intangible Assets, Net - Expected Amortization Expense in Future Periods (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 2,904
2025	2,556
2026	2,477
2027	1,738
Total expected future amortization expense	$ 9,675	$ 12,761

Net Income Per Share (Tables)

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The computations for basic and diluted net income per share are as follows:


	Year Ended December 31,
	2023		2022		2021

	(in thousands, except per share data)
Numerator:
Net income	$	151,595	$	107,992	$	70,960
Denominator:
Basic weighted average shares	36,879		38,453		39,030
Effect of potentially dilutive shares:
Stock options	482		672		863
Restricted stock units	237		216		224
Employee stock purchase plan	4		3		1
Diluted weighted average shares	37,602		39,344		40,118
Net income per share:
Basic	$	4.11	$	2.81	$	1.82
Diluted	$	4.03	$	2.74	$	1.77

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

Potentially dilutive shares not included in the calculation of diluted net income per share because doing so would be anti-dilutive are as follows:


	Year Ended December 31,
	2023	2022	2021

	(in thousands)
Stock options	763	686	534
Restricted stock units	140	90	61
Employee stock purchase plan	7	5	—
Total anti-dilutive shares	910	781	595

Revenue from Contracts With Customers - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Revenues recognized	$ 292.2	$ 254.9
Deferred revenue		317.2	$ 290.6
Amortization expense related to deferred costs	6.0	5.0	4.0
Impairment loss	$ 0.0	$ 0.0	$ 0.0

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flow from operating activities:
Net income	$ 151,595	$ 107,992	$ 70,960
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	26,991	34,622	35,897
Write off of noncurrent asset	0	0	625
Provision for credit losses	547	590	402
Loss on disposal of property and equipment	0	6	12
Loss on non-marketable securities	533	0	0
Stock-based compensation, net of amounts capitalized	69,079	53,408	67,579
Amortization (accretion) of premiums (discount) on marketable securities, net	(5,712)	833	3,869
Deferred income taxes	(16,636)	(20,251)	(9,723)
Changes in operating assets and liabilities:
Accounts receivable	(24,978)	(13,387)	(9,221)
Prepaid expenses and other assets	(3,407)	3,878	(15,665)
Accounts payable	(1,578)	2,107	(32)
Accrued liabilities and other noncurrent liabilities	451	3,867	9,322
Deferred revenues	47,720	25,189	46,591
Net cash provided by operating activities	244,605	198,854	200,616
Cash flow from investing activities:
Purchases of marketable securities	(306,812)	(178,788)	(368,450)
Sales and maturities of marketable securities	242,432	347,837	363,941
Purchases of property and equipment	(8,786)	(15,361)	(24,424)
Proceeds from disposal of property and equipment	0	0	6
Purchases of intangible assets	0	(8,620)	(1,230)
Maturity of note receivable	0	0	625
Net cash (used in) provided by investing activities	(73,166)	145,068	(29,532)
Cash flow from financing activities:
Repurchase of common stock	(170,800)	(317,344)	(129,977)
Proceeds from exercise of stock options	45,576	24,483	49,994
Payments for taxes related to net share settlement of equity awards	(22,346)	(17,615)	(27,815)
Proceeds from issuance of common stock through employee stock purchase plan	6,077	4,445	0
Principal payments under finance lease obligations	0	0	(90)
Net cash used in financing activities	(141,493)	(306,031)	(107,888)
Net increase in cash, cash equivalents and restricted cash	29,946	37,891	63,196
Cash, cash equivalents and restricted cash at beginning of period	176,419	138,528	75,332
Cash, cash equivalents and restricted cash at end of period	206,365	176,419	138,528
Supplemental disclosures of cash flow information
Cash paid for income taxes, net of refunds	34,920	39,739	35,080
Non-cash investing and financing activities
Purchases of intangible assets recorded in accrued liabilities and other noncurrent liabilities	0	2,110	120
Purchases of property and equipment recorded in accounts payable and accrued liabilities	$ 144	$ 470	$ 2,086

Accumulated Other Comprehensive Income (Loss) - Amounts Reclassified from AOCI (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reclassification of AOCI - Available-for-sale debt securities
Other income (expense), net	$ (1,323)	$ (2,038)	$ (573)
Reclassification of AOCI - Cash flow hedges
Revenues	554,458	489,723	411,172
Cost of revenues	(107,485)	(102,788)	(89,439)
Research and development	(110,472)	(101,186)	(81,289)
Sales and marketing	(111,691)	(97,221)	(76,487)
General and administrative	(61,741)	(57,981)	(76,274)
Net income	151,595	107,992	70,960
Reclassification out of Accumulated Other Comprehensive Income \| Available-for-sale debt securities
Reclassification of AOCI - Available-for-sale debt securities
Other income (expense), net	16	0	(22)
Reclassification out of Accumulated Other Comprehensive Income \| Cash flow hedges
Reclassification of AOCI - Cash flow hedges
Revenues	3,077	1,897	(1,667)
Cost of revenues	(258)	(169)	149
Research and development	(712)	(478)	492
Sales and marketing	(44)	(30)	28
General and administrative	(106)	(73)	65
Net income	$ 1,957	$ 1,147	$ (933)

Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of Fair Value Hierarchy of Financial Assets and Liabilities

The following table sets forth by level within the fair value hierarchy the fair value of the Company's financial assets and liabilities measured at fair value on a recurring basis:


	December 31, 2023
	Level 1		Level 2		Fair Value

	(in thousands)
Money market funds	$	87	$	—	$	87
Commercial paper	—		54,279		54,279
U.S. Treasury and government agencies	—		208,536		208,536

Corporate bonds	—		56,465		56,465
Asset-backed securities	—		13,881		13,881
Foreign currency forward contracts	—		111		111
Total assets	$	87	$	333,272	$	333,359
Foreign currency forward contracts	$	—	$	1,986	$	1,986
Total liabilities	$	—	$	1,986	$	1,986


	December 31, 2022
	Level 1		Level 2		Fair Value

	(in thousands)
Money market funds	$	82,701	$	—	$	82,701

U.S. Treasury and government agencies	—		156,662		156,662
Foreign government	—		1,006		1,006
Corporate bonds	—		63,910		63,910
Asset-backed securities	—		15,027		15,027
Foreign currency forward contracts	—		1,493		1,493
Total assets	$	82,701	$	238,098	$	320,799
Foreign currency forward contracts	$	—	$	4,679	$	4,679
Total liabilities	$	—	$	4,679	$	4,679

Schedule of Cash Equivalents and Marketable Securities

The Company's cash equivalents and marketable securities consist of the following:


	December 31, 2023
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value

	(in thousands)
Cash equivalents: (1)
Money market funds	$	87	$	—	$	—	$	87

U.S. Treasury and government agencies	54,620		4		—		54,624
Total	54,707		4		—		54,711
Short-term marketable securities:
Commercial paper	54,254		32		(7)		54,279
Corporate bonds	23,013		1		(149)		22,865

U.S. Treasury and government agencies	144,901		52		(204)		144,749

Total	222,168		85		(360)		221,893
Long-term marketable securities:
Corporate bonds	33,337		285		(22)		33,600
Asset-backed securities	13,785		102		(6)		13,881
U.S. Treasury and government agencies	9,116		49		(2)		9,163
Total	56,238		436		(30)		56,644
Total	$	333,113	$	525	$	(390)	$	333,248

(1)Excludes cash of $149.0 million.


	December 31, 2022
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value

	(in thousands)
Cash equivalents: (1)
Money market funds	$	82,701	$	—	$	—	$	82,701
U.S. Treasury and government agencies	29,787		4		—		29,791
Total	112,488		4		—		112,492
Short-term marketable securities:

Corporate bonds	36,908		3		(337)		36,574
Asset-backed securities	726		—		(2)		724
U.S. Treasury and government agencies	110,225		—		(921)		109,304
Foreign government	1,008		—		(2)		1,006
Total	148,867		3		(1,262)		147,608
Long-term marketable securities:
Corporate bonds	28,146		—		(810)		27,336
Asset-backed securities	14,435		—		(132)		14,303
U.S. Treasury and government agencies	18,076		—		(509)		17,567

Total	60,657		—		(1,451)		59,206
Total	$	322,012	$	7	$	(2,713)	$	319,306

(1)Excludes cash of $61.2 million.

Schedule of Gross Unrealized Losses and Fair Value of Marketable Securities

The following table summarizes the gross unrealized losses and fair value of the Company's marketable securities that were in an unrealized loss position aggregated by length of time:


	December 31, 2023
	Less than 12 months				12 months or longer				Total
	Fair value		Gross unrealized losses		Fair value		Gross unrealized losses		Fair value		Gross unrealized losses
	(in thousands)
Commercial paper	$	24,838	$	(7)	$	—	$	—	$	24,838	$	(7)

Asset-backed securities	—		—		1,485		(6)		1,485		(6)
Corporate bonds	—		—		20,717		(171)		20,717		(171)
U.S. Treasury and government agencies	43,373		(18)		18,172		(188)		61,545		(206)
Total	$	68,211	$	(25)	$	40,374	$	(365)	$	108,585	$	(390)


	December 31, 2022
	Less than 12 months				12 months or longer				Total
	Fair value		Gross unrealized losses		Fair value		Gross unrealized losses		Fair value		Gross unrealized losses
	(in thousands)
Foreign government agencies	$	998	$	(2)	$	—	$	—	$	998	$	(2)
Asset-backed securities	13,365		(124)		1,652		(10)		15,017		(134)
Corporate bonds	33,800		(389)		26,326		(758)		60,126		(1,147)
U.S. Treasury and government agencies	89,802		(1,175)		36,833		(255)		126,635		(1,430)
Total	$	137,965	$	(1,690)	$	64,811	$	(1,023)	$	202,776	$	(2,713)

Schedule of Fair Value of Marketable Securities

The following summarizes the fair value of marketable securities by contractual maturity:


	December 31, 2023
	Amortized Cost		Fair Value

	(in thousands)
Due within One Year	$	276,875	$	276,604
Due after One Year through Two Years	27,814		27,982
Mature over Two Years	14,639		14,781
Asset-backed securities	13,785		13,881
Total	$	333,113	$	333,248

Schedule of the Fair Value of Derivative Instruments

The following summarizes the fair value of derivative financial instruments as of December 31, 2023 and 2022:


	December 31,
	2023		2022

	(in thousands)
Assets
Foreign currency forward contracts designated as cash flow hedge	$	63	$	1,041
Foreign currency forward contracts not designated as hedging instruments	48		452
Total	$	111	$	1,493
Liabilities
Foreign currency forward contracts designated as cash flow hedge	$	1,502	$	2,634
Foreign currency forward contracts not designated as hedging instruments	484		2,045
Total	$	1,986	$	4,679

Schedule of Derivative Instruments, Gain (Loss)

The following summarizes the gains (losses) recognized from forward contracts and other foreign currency transactions in other income (expense), net in the consolidated statements of operations:


	Year Ended December 31,
	2023		2022		2021

	(in thousands)
Net (losses) gains from non-designated forward contracts	$	(198)	$	5,093	$	2,452
Other foreign currency transactions losses	(499)		(6,864)		(2,749)
Total foreign exchange losses, net	$	(697)	$	(1,771)	$	(297)

Property, Plant and Equipment [Abstract]

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

+ References + Details

Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings (Accumulated Deficit)
Beginning balance (in shares) at Dec. 31, 2020		39,253
Beginning balance at Dec. 31, 2020	$ 404,482	$ 39	$ 401,359	$ (484)	$ 3,568
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	70,960				70,960
Other comprehensive income (loss), net of tax	1,491			1,491
Issuance of common stock upon exercise of stock options (in shares)		725
Issuance of common stock upon exercise of stock options	49,994	$ 1	49,993
Repurchase of common stock (in shares)		(1,148)
Repurchase of common stock	(129,977)	$ (1)	(13,793)		(116,183)
Issuance of common stock upon vesting of restricted stock units (in shares)		530
Taxes related to net share settlement of equity awards (in shares)		(248)
Taxes related to net share settlement of equity awards	(27,815)		(27,815)
Stock-based compensation	67,579		67,579
Ending balance (in shares) at Dec. 31, 2021		39,112
Ending balance at Dec. 31, 2021	436,714	$ 39	477,323	1,007	(41,655)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	107,992				107,992
Other comprehensive income (loss), net of tax	(2,954)			(2,954)
Issuance of common stock upon exercise of stock options (in shares)		468
Issuance of common stock upon exercise of stock options	24,483		24,483
Repurchase of common stock (in shares)		(2,460)
Repurchase of common stock	(317,344)	$ (2)	(29,558)		(287,784)
Issuance of common stock upon vesting of restricted stock units (in shares)		329
Taxes related to net share settlement of equity awards (in shares)		(132)
Taxes related to net share settlement of equity awards	(17,615)		(17,615)
Issuance of common stock through employee stock purchase plan (in shares)		45
Issuance of common stock through employee stock purchase plan	4,445		4,445
Stock-based compensation	53,408		53,408
Ending balance (in shares) at Dec. 31, 2022		37,362
Ending balance at Dec. 31, 2022	289,129	$ 37	512,486	(1,947)	(221,447)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	151,595				151,595
Other comprehensive income (loss), net of tax	$ 243			243
Issuance of common stock upon exercise of stock options (in shares)	582	582
Issuance of common stock upon exercise of stock options	$ 45,576		45,575
Repurchase of common stock (in shares)		(1,342)
Repurchase of common stock	(171,219)	$ (1)	(12,990)		(158,228)
Issuance of common stock upon vesting of restricted stock units (in shares)		414
Taxes related to net share settlement of equity awards (in shares)		(167)
Taxes related to net share settlement of equity awards	$ (22,346)		(22,346)
Issuance of common stock through employee stock purchase plan (in shares)	60	60
Issuance of common stock through employee stock purchase plan	$ 6,077
Stock-based compensation	69,119		69,119
Ending balance (in shares) at Dec. 31, 2023		36,909
Ending balance at Dec. 31, 2023	$ 368,174	$ 37	$ 597,921	$ (1,704)	$ (228,080)

Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Accounts receivable, net of allowance	$ 778	$ 736
Preferred stock, par value (in USD per share)	$ 0.001	$ 0.001
Preferred stock, authorized (in shares)	20,000	20,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in USD per share)	$ 0.001	$ 0.001
Common stock, authorized (in shares)	1,000,000	1,000,000
Common stock, issued (in shares)	36,909	37,362
Common stock, outstanding (in shares)	36,909	37,362

Income Taxes - Schedule of Unrecognized Tax Benefits Roll Forward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits beginning balance	$ 10,542	$ 9,676	$ 8,855
Gross increase for tax positions of prior years	262	89	0
Gross decrease for tax positions of prior years	0	0	(25)
Gross increase for tax positions of current year	1,127	777	846
Lapse of statute of limitations	(33)	0	0
Total unrecognized tax benefits	$ 11,898	$ 10,542	$ 9,676

Property and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Property and Equipment, Net

Property and equipment, net, which includes assets under finance leases, consists of the following:


	December 31,
	2023		2022

	(in thousands)
Computer equipment	$	179,002	$	173,832
Computer software	26,133		25,808
Leasehold improvements	20,924		21,009
Scanner appliances	18,369		15,696
Furniture, fixtures and equipment	6,699		6,524
Total property and equipment	251,127		242,869
Less: accumulated depreciation and amortization	(218,528)		(195,441)
Property and equipment, net	$	32,599	$	47,428

The Company and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
The Company and Summary of Significant Accounting Policies	The Company and Summary of Significant Accounting Policies Description of Business Qualys, Inc. (the “Company”, "we", "us", "our") was incorporated in the state of Delaware on December 30, 1999. The Company is headquartered in Foster City, California and has wholly-owned subsidiaries throughout the world. The Company is a leading provider of cloud-based IT, security and compliance solutions that enable organizations to identify security risks to their IT infrastructures, help protect their IT systems and applications from ever-evolving cyber-attacks and achieve compliance with internal policies and external regulations. The Company’s cloud solutions address the growing security and compliance complexities and risks that are amplified by the dissolving boundaries between internal and external IT infrastructures and web environments, the rapid adoption of cloud computing and the proliferation of geographically dispersed IT assets. Organizations can use the Company’s integrated suite of solutions delivered on Qualys' Enterprise TruRisk Platform to cost-effectively obtain a unified view of their security and compliance posture across globally-distributed IT infrastructures. Basis of Presentation The accompanying consolidated financial statements and footnotes have been prepared in accordance with U.S. GAAP as well as the instructions to Form 10-K and the rules and regulations of the SEC. Certain prior year amounts have been reclassified to conform with the current year presentation. In the opinion of management, the accompanying consolidated financial statements reflect all adjustments, which include only normal recurring adjustments, necessary for the fair presentation of the Company’s consolidated financial position, results of operations and cash flows for the periods presented. The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated upon consolidation. Use of Estimates The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of assets and liabilities at the date of the consolidated financial statements and the reported results of operations during the reporting period. The Company’s management regularly assesses these estimates, which primarily affect revenue recognition, allowance for credit loss, the valuation of goodwill and intangible assets, leases, stock-based compensation and income tax provision. Actual results could differ from those estimates and such differences may be material to the accompanying consolidated financial statements. Concentration of Credit Risk The Company invests its cash and cash equivalents with major financial institutions. Cash balances with any one institution at times may be in excess of federally insured limits. Cash equivalents are invested in high-quality investment grade financial instruments and are diversified. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk. Credit risk with respect to accounts receivable is dispersed due to the large number of customers. Collateral is not required for accounts receivable. As of December 31, 2023 and 2022, no customer or channel partner accounted for more than 10% of the Company's revenues and accounts receivable balance. Cash, Cash Equivalents, Restricted cash and Short-Term and Long-Term Marketable Securities Cash and cash equivalents include cash held in banks, highly liquid money market funds, and fixed-income U.S. Treasury and government agencies, all with original maturities of three months or less when acquired. The Company’s short-term and long-term marketable securities consist of fixed-income U.S. and foreign government agency securities, corporate bonds, asset-backed securities and commercial paper. Management determines the appropriate classification of the Company's investments at the time of purchase and reevaluates such designation at each balance sheet date. The Company classifies its marketable securities as either short-term or long-term based on each instrument's underlying remaining contractual maturity date. As of December 31, 2023 and 2022, the Company had a restricted cash balance of $2.7 million, of which $1.5 million is related to cash held in escrow as part of the Blue Hexagon acquisition and $1.2 million in the form of a letter of credit issued to the landlord of the Company's California headquarter office lease as security deposit. Cash equivalents are stated at cost, which approximates fair market value. Short-term and long-term marketable securities are classified as available-for-sale debt securities (AFS debt securities) and are carried at fair value. Unrealized gains and losses in fair value of the AFS debt securities are reported in other comprehensive income (loss). When the AFS debt securities are sold, cost is based on the specific identification method, and the realized gains and losses are included in other income (expense), net in the consolidated statements of operations. AFS debt securities are reviewed quarterly for impairment. An investment is considered impaired when its fair value is below its amortized cost. Declines in fair value from amortized cost for AFS debt securities that the company intends to sell or will more likely than not be required to sell before the expected recovery of the amortized cost basis are charged to other income (expense), net in the period in which the loss occurs. Otherwise, the credit loss component of the impairment is recorded as allowance for credit losses with an offsetting entry charged to other income (expense), net, while the remaining loss is recognized in other comprehensive income (loss). Accounts Receivable Accounts receivable are recorded at the invoiced amount and do not bear interest. The allowance for credit losses is determined on a collective basis where similar risk characteristics exist and on an individual basis when the Company identifies significant customers or invoices with collectability issues. The estimate for credit losses considers historical write-offs by aging category, that are adjusted for current conditions and reasonable and supportable forecasts of future losses. Any change in the assumptions used in analyzing credit losses may result in additional allowances being recognized in the period in which the change occurs. When the Company ultimately concludes that a receivable is uncollectible, the balance is written off against the allowance for credit losses. Payments subsequently received on such receivables are recognized in the period received. The allowance for credit losses recognized and write-offs charged against the allowance were not significant for the years ended December 31, 2023 and 2022. The balance of accounts receivable, net of allowance for credit losses was $146.2 million, $121.8 million and $109.0 million as of December 31, 2023, December 31, 2022 and December 31, 2021, respectively. Non-marketable securities In 2018, the Company invested $2.5 million in preferred stock of a privately-held company (the “Investee”). The fair value of the investment is not readily available, and there are no quoted market prices for the investment. The Company elected the measurement alternative to account for the investment at cost less impairment and will measure the investment at fair value when the Company identifies observable price changes. The investment is assessed for impairment annually or whenever events or changes in circumstances indicate that the fair value of the investment is less than carrying value. The investment is included in other noncurrent assets in the consolidated balance sheets. The Company has not received any dividends from the investment. During the second quarter of 2023, the Company identified an observable price change in the investment and recognized an immaterial unrealized loss in other income (expense), net of the consolidated statement of operations. In 2019, the Company made an advance payment of $0.6 million to the Investee for it to perform certain technology development work, which should either be settled in the form of royalty fee charges when the technology materializes and is licensed to the Company or, otherwise, should be repaid to the Company in cash. The advance payment was recorded in other non-current assets in the consolidated balance sheet. During the fourth quarter ended December 31, 2021, the technology has not been developed and the Company decided to no longer pursue the development of the technology or the collection of the advanced amount. Accordingly, the entire amount of the advance payment was written off and recorded in the general and administrative expense during the year ended December 31, 2021. Property and Equipment, net Property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, which range from three to five years. Leasehold improvements are amortized on a straight-line basis over the lesser of the estimated useful life of the asset or the remaining lease term. The Company purchases physical scanner appliances and other computer equipment that are provided to some customers on a subscription basis. This equipment is recorded within property and equipment and the depreciation is recorded in cost of revenues over an estimated useful life of three years. Upon retirement or disposal, the cost of assets and the related accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in the consolidated statements of operations. Repairs and maintenance that do not extend the life of an asset are expensed as incurred and major improvements are capitalized as property and equipment. Leases The Company leases certain offices, computer equipment and its shared cloud platform facilities under finance leases and non-cancelable operating leases. For both operating and finance leases, the Company recognizes a right-of-use asset, which represents the Company's right to use the underlying asset for the lease term, and a lease liability, which represents the present value of the Company's obligation to make payments arising over the lease term. Many of the Company's leases include rental escalation clauses, renewal options and/or termination options that are factored into the Company's determination of lease payments and lease terms when appropriate. The present value of the lease payments is calculated using the incremental borrowing rate of the underlying leases determined at lease commencement. As most of the Company's leases do not provide a readily determinable implicit rate, the Company determines an incremental borrowing rate using a portfolio approach based on the rate of interest that the Company would have to pay to borrow an amount equal to the lease payments on a collateralized basis over a similar term as the leases. Where the Company is the lessee, the Company elects to account for non-lease components associated with its leases (e.g., common area maintenance costs) and lease components separately for substantially all of its asset classes, except for shared cloud platforms, for which the Company elected to combine lease and non-lease components. For leases with a term of one year or less, the Company has elected not to record the right-of-use asset or liability. In arrangements where the Company is the lessor, the Company elected to apply the practical expedient to account for lease components (e.g., customer premise equipment) and non-lease components (e.g., service revenue) as combined components as revenue under ASC 606 as service revenues are the predominant components in the arrangements. Impairment of Long-Lived Assets The Company evaluates its long-lived assets, which consist of property and equipment, and intangible assets subject to amortization, for indicators of possible impairment when events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. Impairment exists if the carrying amounts of such assets exceed the estimates of future undiscounted cash flows expected to be generated by such assets. Should an impairment exist, the impairment loss would be measured based on the excess carrying value of the asset over the asset’s estimated fair value. For the years ended December 31, 2023, 2022 and 2021, there was no impairment of long-lived assets. Goodwill and Intangible Assets Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in a business combination. Goodwill and indefinite-lived intangible assets are not amortized but tested for impairment at least annually or more frequently if certain circumstances indicate a possible impairment may exist. The goodwill impairment tests are performed at the reporting unit level. The Company’s operations are organized as one reporting unit. In testing for a potential impairment of goodwill and the indefinite-lived intangible assets, the Company first performs a qualitative assessment to determine if it is more likely than not (a more than 50% likelihood) that the fair value of the reporting unit or the indefinite-lived intangible assets is less than their carrying amount. If the fair value is not considered to be less than the carrying amount, no further evaluation is necessary. Otherwise, the Company will perform a quantitative test. Goodwill impairment is measured as the amount by which the carrying value of the reporting unit or the indefinite-lived intangible assets exceeds their fair value. The Company performed the annual assessments on December 1, 2023 and 2022 and concluded there was no impairment of goodwill or the indefinite-lived intangible assets. Software Development Costs The costs to develop software that is marketed externally have not been capitalized as the Company believes its current software development process is essentially completed concurrent with the establishment of technological feasibility. As such, all related software development costs are expensed as incurred and included in research and development expense on the Company's consolidated statements of operations. Costs related to software developed, acquired or modified for internal use are capitalized and included in other noncurrent assets on the consolidated balance sheets. Costs incurred during the preliminary planning and evaluation stage of the project and during the post implementation stages of the project are expensed as incurred. Costs incurred during the application development stage of the project are capitalized. These capitalized costs consist of internal compensation related costs and external direct costs. Costs related to software developed for internal use are amortized over an estimated useful life of three years and recorded in cost of revenues. Management evaluates the useful lives of these assets on an annual basis and tests for impairment whenever events or changes in circumstances occur that could impact the recoverability of these assets. As of December 31, 2023 and 2022, unamortized balances related to the Company's internally developed software costs are immaterial. Asset Acquisitions and Business Combinations The Company applies the provisions of ASC 805, Business Combinations, in accounting for its acquisitions. To determine whether transactions should be accounted for as asset acquisition or business combination, the Company evaluates whether substantially all of the fair value of gross assets included in a transaction is concentrated in a single asset (or a group of similar assets), resulting in an asset acquisition, if not, resulting in a business combination. In an asset acquisition, the cost of acquiring the asset group, including transaction costs, is allocated to the acquired assets or assumed liabilities based on their relative fair values without giving rise to goodwill. In a business combination, the Company recognize separately from goodwill the assets acquired and the liabilities assumed at their acquisition date fair values. Goodwill as of the acquisition date is measured as the excess of consideration transferred over the net of the acquisition date fair values of the assets acquired and the liabilities assumed. While the Company uses its best estimates and assumptions to accurately value assets acquired and liabilities assumed at the acquisition date as well as any contingent consideration, where applicable, its estimates are inherently uncertain and subject to refinement. As a result, during the measurement period, which may be up to one year from the acquisition date, the Company records adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to its consolidated statements of operations. Derivative Financial Instruments Derivative financial instruments are utilized by the Company to reduce foreign currency exchange risks. The Company uses foreign currency forward contracts, with maturities of 13 months or less, to mitigate the impact of foreign currency fluctuations of certain non-U.S. dollar denominated net asset positions, to date primarily cash, accounts receivable and operating lease liabilities, as well as to manage foreign currency fluctuation risk related to forecasted transactions. Open contracts are recorded within prepaid expenses and other current assets, other noncurrent assets, accrued liabilities or other noncurrent liabilities in the consolidated balance sheets. Gains and losses resulting from currency exchange rate movements on non-designated forward contracts are recognized in other income (expense), net. Any gains or losses from derivatives designated as cash flow hedges are first recorded within accumulated other comprehensive income (“AOCI”) and then reclassified into revenue or operating expenses when the hedged item impacts the consolidated statements of operations. Cash flows related to these forward contracts are classified in the Company's consolidated statements of cash flows in the same manner as the underlying hedged transaction within cash flows from operating activities. Stock-Based Compensation The Company recognizes the fair value of its stock options, restricted stock units (“RSUs”) and stock purchase rights under the ESPP on a straight-line basis over the requisite service periods. The fair value of each stock option or stock purchase right is estimated on the date of grant using the Black-Scholes-Merton option pricing model and the fair value of each RSU is based on the Company's common stock price on the date of grant. Compensation expenses for performance-based stock options (“PSOs”) and performance-based restricted stock units (“PSUs”) are recorded based on expected achievement of the performance metrics specified in the grant, which are assessed on a quarterly basis. Forfeitures are estimated on the date of grant and revised if actual or expected forfeiture materially differs from original estimates. Revenue Recognition The Company derives revenues from subscriptions that require customers to pay a fee in order to access the Company’s cloud solutions. Contract period with customers generally are one year with occasional contracts ranging up to five years. The subscription fee entitles the customer to an unlimited number of scans for a specified number of networked devices or web applications and, if requested by a customer as part of their subscription, a specified number of physical or virtual scanner appliances. The Company’s physical and virtual scanner appliances are requested by certain customers as part of their subscriptions in order to scan IT infrastructures within their firewalls and do not function without, and are not sold separately from, subscriptions for the Company’s solutions. In some limited cases, the Company also provides certain computer equipment used to extend Qualys' Enterprise TruRisk Platform into its customers’ private cloud environment. Customers are required to return physical scanner appliances and computer equipment if they do not renew their subscriptions. The Company determines revenue recognition through the following steps: •Identification of the contract, or contracts, with a customer; •Identification of the performance obligations in the contract; •Determination of the transaction price; •Allocation of the transaction price to the performance obligations in the contract; and •Recognition of revenue when, or as, the Company satisfies a performance obligation. At the inception of a customer contract, the Company makes an assessment as to that customer's ability to pay for the services provided. The Company assesses collectability based on several factors, including credit worthiness of the customer along with past transaction history. In addition, the Company performs periodic evaluations of its customers’ financial condition. Most of the Company’s revenue contracts are subscription based and contain a single performance obligation. The subscription contracts typically do not offer to the customers any future rights that would constitute material rights. Contract prices are generally composed of fixed consideration for a specific period of time as the Company in general does not offer refunds, volume rebates, customer loyalty programs or other forms of customer incentive payments. In limited situations, contract prices are contingent on future events, such as actual usage during the contract terms, which are accounted for as variable consideration and estimated based on the most likely amount of consideration that the Company is expected to be entitled to. Estimates are included in the contract price to the extent that it is considered probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. Such estimates are made at contract inception and updated periodically when additional information becomes available. A cumulative catch-up adjustment is made when there is a change in the estimate of variable consideration. As the Company's cloud-based subscription services are delivered to customers electronically and over time, revenue is generally recognized ratably over the contract terms. When physical equipment is provided to the customers as part of the subscription service contract, the Company applies the practical expedient allowed under ASC 842 Leases to combine lease and nonlease components as a combined component to be accounted for under ASC 606, as the Company determined that the software subscription is the predominant component of the combined components. Therefore, the Company recognizes revenue for the physical equipment ratably over the related subscription period. Contract modifications happen when there is an upsell, where the customers subsequently enter into contract with the Company to purchase additional product offerings or additional scans for additional devices. Contract modifications related to upsells are accounted for prospectively. Deferred revenues consist of customer contracts billed or cash received that will be recognized in the future under subscriptions existing at the balance sheet date. The current portion of deferred revenues represents amounts that are expected to be recognized within one year of the balance sheet date. Costs of shipping and handling charges incurred by the Company associated with physical scanner appliances and other computer equipment are included in cost of revenues. Sales taxes and other taxes collected from customers to be remitted to government authorities are excluded from revenues. Incremental direct costs of obtaining a contract, which consist of sales commissions primarily for new business and upsells, are deferred and amortized over the estimated life of the customer relationship if renewals are expected and the renewal commission is not commensurate with the initial commission. The Company elected the practical expedient to expense commissions on renewals where the specific anticipated contract term amortization period is one year or less. The Company amortizes the capitalized commission cost as a selling expense on a straight-line basis over a period of five years. The Company classifies deferred commissions as current or noncurrent based on the timing of when it expects to recognize the expense. The current and noncurrent portions of deferred commissions are included in prepaid expenses and other current assets and other noncurrent assets, respectively, in its consolidated balance sheets. Advertising Expenses Advertising costs are expensed as incurred and are included in sales and marketing expense in the consolidated statements of operations. The Company incurred advertising costs of $3.0 million, $3.3 million and $2.1 million for the years ended December 31, 2023, 2022 and 2021, respectively. Income Taxes The Company provides for the effect of income taxes in its consolidated financial statements using the asset and liability method which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the consolidated financial statements. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, net operating loss carryovers, and tax credit carry forwards. The Company regularly reviews its deferred tax assets for recoverability and establishes a valuation allowance if it is more likely than not that some portion or all of the deferred tax assets will not be realized. To make this assessment, the Company takes into account predictions of the amount and category of taxable income from various sources and all available positive and negative evidence about these possible sources of taxable income. The weight given to the potential effect of negative and positive evidence is commensurate with the extent to which the strength of the evidence can be objectively verified. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the period that includes the enactment date. Income tax expense or benefit is recognized for the amount of taxes payable or refundable for the current year and for deferred tax assets and liabilities for the tax consequences of events that have been recognized in an entity’s financial statements or tax returns. The Company must make significant assumptions, judgments and estimates to determine its current income tax provision (benefit), its deferred tax assets and liabilities, and any valuation allowance to be recorded against its deferred tax assets. The Company's estimates and assumptions may differ from the actual results as reflected on its income tax returns and will record the required adjustments when they are identified or resolved. The Company applies a two-step approach to determining the financial statement recognition and measurement of uncertain tax positions. The Company only recognizes an income tax expense or benefit with respect to uncertain tax positions in its financial statements that the Company judges is more likely than not to be sustained solely on its technical merits in a tax audit, including resolution of any related appeals or litigation processes. To make this judgment, the Company must interpret complex and sometimes ambiguous tax laws, regulations and administrative practices. If an income tax position meets the more likely than not recognition threshold, then the Company must measure the amount of the tax benefit to be recognized by determining the largest amount of tax benefit that has a greater than a 50% likelihood of being realized upon effective settlement with a taxing authority that has full knowledge of all of the relevant facts. It is inherently difficult and subjective to estimate such amounts, as this requires the Company to determine the probability of various possible settlement outcomes. To determine if a tax position is effectively settled after a tax examination has been completed, the Company must also estimate the likelihood that another taxing authority could review the respective tax position. The Company must also determine when it is reasonably possible that the amount of unrecognized tax benefits will significantly increase or decrease in the 12 months after each fiscal year-end. These judgments are difficult because a taxing authority may change its behavior as a result of the Company's disclosures in its financial statements. The Company must reevaluate its income tax positions on a quarterly basis to consider factors such as changes in facts or circumstances, changes in tax law, effectively settled issues under audit, and new audit activity. Such a change in recognition or measurement would result in recognition of a tax benefit or an additional charge to the tax provision. The Company's policy is to recognize interest and penalties related to unrecognized tax benefits as a component of the provision for income taxes. Comprehensive Income (Loss) Other comprehensive income (loss) consists of unrealized gains (losses) on marketable securities, net of tax, and derivative financial instruments designated as cash flow hedges, net of tax, which are not included in the Company’s net income. Total comprehensive income includes net income and other comprehensive income (loss) and is included in the consolidated statements of comprehensive income. Foreign Currency Transactions The Company’s operations are conducted in various countries around the world and the financial statements of its foreign subsidiaries are reported in the U.S. dollar as their respective functional currency. Monetary assets and liabilities denominated in foreign currencies have been re-measured into U.S. dollars using the exchange rates in effect at the balance sheet date, and income and expenses are re-measured at average exchange rates during the period. Foreign currency re-measurement gains and losses and foreign currency transaction gains and losses are recognized in other income (expense), net. Net Income Per Share Basic net income per share is computed by dividing net income by the weighted-average number of shares outstanding during the period. Diluted net income per share is computed by dividing net income by the weighted-average number of shares outstanding plus potentially dilutive shares outstanding during the period. The potentially dilutive shares are computed by applying the treasury stock method to the Company's stock options, RSUs and the stock purchase rights under the ESPP. Any potential shares that would be anti-dilutive are excluded from the computation of diluted net income per share. Recently Adopted Accounting Pronouncements None. Recently Issued Accounting Pronouncements Not Yet Adopted In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-07 requiring enhanced segment disclosures. The ASU requires disclosure of significant segment expenses regularly provided to the chief operating decision maker ("CODM") included within segment operating profit or loss. Additionally, the ASU requires a description of how the CODM utilizes segment operating profit or loss to assess segment performance. The requirements of the ASU are effective for annual periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The Company's annual reporting requirements will be effective for fiscal 2024 and interim reporting requirements will be effective beginning with the first quarter of fiscal 2025. Early adoption is permitted and retrospective application is required for all periods presented. The Company is in the process of analyzing the impact of the ASU on related disclosures. In December 2023, the FASB issued ASU 2023-09 requiring enhanced income tax disclosures. The ASU requires disclosure of specific categories and disaggregation of information in the rate reconciliation table. The ASU also requires disclosure of disaggregated information related to income taxes paid, income or loss from continuing operations before income tax expense or benefit, and income tax expense or benefit from continuing operations. The requirements of the ASU are effective for annual periods beginning after December 15, 2024. Early adoption is permitted and the amendments should be applied on a prospective basis. Retrospective application is permitted. The Company is in the process of analyzing the impact of the ASU on related disclosures. The Company does not believe any other new accounting pronouncements issued by the FASB that have not become effective will have a material impact on its consolidated financial statements.

Stockholders' Equity and Stock-based Compensation - Equity Incentive Plan (Details) - shares shares in Thousands			12 Months Ended
	Jun. 08, 2022	Jun. 09, 2021	Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Offering period, months			6 months
Issuance of common stock through employee stock purchase plan (in shares)			60
The 2012 Equity Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Authorized annual increase (in shares)			3,050
Authorized annual increase, percentage			5.00%
Shares added to plan (in shares)			0
Additional shares available for grant (in shares)	3,072
Shares available for grant (in shares)	9,689		1,824
Vesting period, term years			4 years
Expiration period, term			10 years
The 2021 Employee Stock Purchase Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares available for grant (in shares)			494
Shares authorized for issuance (in shares)		600
Offering period, months		6 months
Purchase price per stock, percentage		85.00%
The 2021 Employee Stock Purchase Plan \| Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Eligible compensation contributable, percentage		1.00%
The 2021 Employee Stock Purchase Plan \| Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Eligible compensation contributable, percentage		15.00%

Intangible Assets, Net

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets, Net

Intangible assets consist primarily of developed technology and patent licenses acquired from business or asset acquisitions. Acquired intangibles are amortized on a straight-line basis over the respective estimated useful lives of the assets.

The carrying values of intangible assets are as follows:


			December 31, 2023
(in thousands)	Weighted Average Life (Years)	Weighted Average Remaining Life (Years)	Cost		Accumulated Amortization		Net Book Value
Developed technology	4.6	1.1	$	40,141	$	(30,667)	$	9,474
Patent licenses	14.0	0.7	1,387		(1,322)		65
Assembled workforce	2.0	0.8	359		(223)		136
Total intangibles subject to amortization			$	41,887	$	(32,212)	$	9,675
Intangible assets not subject to amortization							40
Total intangible assets, net							$	9,715


			December 31, 2022
(in thousands)	Weighted Average Life (Years)	Weighted Average Remaining Life (Years)	Cost		Accumulated Amortization		Net Book Value
Developed technology	4.6	1.4	$	40,141	$	(27,860)	$	12,281
Patent licenses	14.0	1.7	1,387		(1,221)		166
Assembled workforce	2.0	1.7	359		(45)		314
Total intangibles subject to amortization			$	41,887	$	(29,126)	12,761
Intangible assets not subject to amortization							40
Total intangible assets, net							$	12,801

Intangible assets amortization expenses were $3.1 million, $5.7 million and $6.7 million for the years ended December 31, 2023, 2022 and 2021, respectively, which were recorded in the consolidated statements of operations.

As of December 31, 2023, the Company expects amortization expense in future periods to be as follows:


	(in thousands)
2024	$	2,904
2025	2,556
2026	2,477
2027	1,738

Total expected future amortization expense	$	9,675

Revenue from Contracts With Customers (Tables)

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Schedule of Expected Revenue from Performance Obligations

The following table sets forth the expected revenue from all remaining performance obligations as of December 31, 2023:


	(in thousands)
2024	$	200,872
2025	122,465
2026	46,327
2027	4,291
2028	397
2029 and thereafter	63
Total	$	374,415

Schedule of Revenue by Sales Channel

Revenues by sales channel are as follows:


	Year Ended December 31,
	2023		2022		2021

	(in thousands)
Direct	$	314,988	$	285,382	$	243,389
Partner	239,470		204,341		167,783
Total	$	554,458	$	489,723	$	411,172

Schedule of Deferred Costs to Obtain Contracts

Deferred costs to obtain contracts are as follows:


	December 31,
	2023		2022

	(in thousands)
Current	$	5,858	$	5,018
Noncurrent	$	11,844	$	10,090

Income Taxes - Schedule of Income before Income Tax, Domestic and Foreign (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Domestic	$ 164,958	$ 122,013	$ 80,472
Foreign	13,693	11,687	8,925
Income before income taxes	$ 178,651	$ 133,700	$ 89,397

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(11))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479557/942-235-S99-1

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 25
-Paragraph 1
-SubTopic 20
-Topic 940
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481913/940-20-25-1

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas

Segment and Geographic Area Information (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Revenue by geographic area, based on the customer's billing address, is as follows:


	Year Ended December 31,
	2023		2022		2021

	(in thousands)
United States	$	332,315	$	292,291	$	252,428
Foreign	222,143		197,432		158,744
Total revenues	$	554,458	$	489,723	$	411,172

Long-lived assets, which consist of Property and equipment, net and Operating leases - right of use asset, by geographic area, are as follows:


	December 31,
	2023		2022

	(in thousands)
United States	$	42,622	$	58,775
India	9,952		16,057
Rest of world	2,416		6,348
Total Long-lived Assets	$	54,990	$	81,180

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets
Research and development credit carryforwards	$ 11,502	$ 10,957
Fixed assets	581	0
Accrued liabilities	3,020	3,677
Deferred revenues	3,381	5,766
Operating lease liabilities	7,722	10,667
Intangible assets	3,549	3,465
Stock-based compensation	4,263	4,691
Capitalized research and development	47,793	30,234
Other	2,999	2,195
Gross deferred tax assets	84,810	71,652
Valuation allowance	(12,375)	(12,476)
Total deferred tax assets	72,435	59,176
Deferred tax liabilities
Fixed assets	0	(1,745)
Operating leases - right of use asset	(5,999)	(8,359)
Deferred commissions	(3,675)	(3,660)
Total deferred tax liabilities	(9,674)	(13,764)
Net deferred tax assets	$ 62,761	$ 45,412

Stockholders' Equity and Stock-based Compensation

12 Months Ended

Dec. 31, 2023

Stockholders' Equity and Stock-based Compensation

Preferred Stock

Effective October 3, 2012, the Company is authorized to issue 20.0 million shares of undesignated preferred stock with a par value of $0.001 per share. Each series of preferred stock will have such rights and preferences including dividend rights, dividend rate, conversion rights, voting rights, rights and terms of redemption (including sinking fund provisions), redemption price, and liquidation preferences as determined by the board of directors. As of December 31, 2023, and 2022, there were no issued or outstanding shares of preferred stock.

Common Stock

Equity Incentive Plan

2012 Equity Incentive Plan

The 2012 Equity Incentive Plan (“Previous 2012 Plan”) was adopted and approved in September 2012 and became effective on September 26, 2012. Under the Previous 2012 Plan, the Company is authorized to grant to eligible participant’s incentive stock options ("ISOs"), nonstatutory stock options ("NSOs"), stock appreciation rights (“SARs”), restricted stock awards, restricted stock units ("RSUs"), performance units and performance shares. The number of shares of common stock available for issuance under the Previous 2012 Plan is subject to an annual increase on January 1 of each year by an amount equal to the least of 3,050 thousand shares, 5% of the outstanding shares of stock as of the last day of the immediately preceding fiscal year or an amount determined by the board of directors. For the year ended December 31, 2023, no shares were added to the Previous 2012 Plan.

On June 8, 2022 ("Effective Date"), the Company's stockholders approved the Amended and Restated 2012 Equity Incentive Plan (the "Restated 2012 Plan"). Under the Restated 2012 Plan, the Company is authorized to grant to eligible participants ISOs, NSOs, restricted stock, RSUs, SARs, performance units and performance shares. Pursuant to the relevant plan provisions, 3,072 thousand shares were available for grant under the Restated 2012 Plan on the Effective Date. In addition, any outstanding awards or options granted under the Previous 2012 Equity Incentive Plan will be added back to the shares available for grant under the Restated 2012 Plan if they expire unexercised or are otherwise forfeited after the Effective Date. Any remaining shares of 9,689 thousand available for grant under the Previous 2012 Plan as of the Effective Date were no longer available for future grants under the Restated 2012 Plan. As of December 31, 2023, 1,824 thousand shares are available for future grants. Options may be granted with an exercise price that is at least equal to the fair market value of the Company's stock at the date of grant and are exercisable when vested. Options and RSU's granted generally vest over a period of up to four years. ISOs may only be granted to employees and any subsidiary corporations' employees. All other awards may be granted to employees, directors and consultants and subsidiary corporations' employees and consultants. Options, SARs, RSUs, performance units and performance awards may be granted with vesting terms as determined by the board of directors and expire no more than ten years after the date of grant or earlier if employment or service is terminated.

2021 Employee Stock Purchase Plan

On June 9, 2021, the Company’s stockholders approved the 2021 ESPP. A total of 600 thousand shares were authorized for issuance to eligible participating employees upon adoption of the ESPP. The ESPP provides for consecutive 6-month offering periods beginning on or about August 16 and February 16 of each year. Eligible employees who elect to participate can contribute from 1% to 15% of their eligible compensation through payroll withholding. During any offering period, contribution rates cannot be changed. However, eligible employees may withdraw from the current offering period. Any contributions made prior to each purchase date in the case of withdrawal or termination of employment will be refunded. On each purchase date, eligible participating employees will purchase the shares at a price per share equal to 85% of the lesser of (i) the fair market value of the Company's stock on the first trading day of the offering period or (ii) the fair market value of the Company's stock on the purchase date (i.e., the last trading day of the offering period).

During the year ended December 31, 2023, 60 thousand shares were issued in connection with the purchase of common stock by participating employees. As of December 31, 2023, 494 thousand shares were available for future purchase.

Stock-based Compensation

The following table shows a summary of the stock-based compensation expenses included in the consolidated statements of operations for the years ended December 31, 2023, 2022 and 2021:


	Year Ended December 31,
	2023		2022		2021

	(in thousands)
Cost of revenues	$	7,300	$	5,305	$	3,782
Research and development	21,091		14,585		10,750
Sales and marketing	12,234		9,837		6,323
General and administrative	28,454		23,681		46,724
Total stock-based compensation, net of amounts capitalized (1)	$	69,079	$	53,408	$	67,579

(1)Total stock-based compensation expense capitalized was de minimis during the year ended December 31, 2023.

The income tax benefit related to the stock-based compensation expenses was $11.0 million, $8.3 million and $6.2 million for the years ended December 31, 2023, 2022 and 2021, respectively. The tax benefit realized from stock-based compensation vested or exercised was $5.9 million, $7.0 million, and $4.9 million for the years ended December 31, 2023, 2022 and 2021, respectively. As of December 31, 2023, the Company had unrecognized stock-based compensation expenses of $23.3 million, $94.3 million, $1.4 million, and $0.3 million related to options, RSUs, performance-based RSUs, and ESPP, respectively, which are expected to be recognized over weighted-average periods of 2.6 years, 2.8 years, 0.6 years, and 0.1 years, respectively.

Performance-Based Stock Options and Restricted Stock Units

On December 21, 2018, the Compensation and Talent committee of the Company's board of directors (“Compensation Committee”) granted the equity award for 2019 to the Company’s former chief executive officer, Philippe Courtot (“Mr. Courtot”). The first portion of the award consisted of 56 thousand RSUs that were scheduled to vest in 16 quarterly increments beginning on January 1, 2019. The second portion of the award consisted of a target number of 33 thousand PSUs, which were scheduled to vest at the end of the three-year performance period from January 2019 through December 2021. The actual number of PSUs eligible to vest ranged from 0% to 200% of the target number, depending on the level of achievement of goals related to revenue growth during the three-year performance period from January 2019 through December 2021 and Adjusted EBITDA margin for the fiscal year of 2021. The third portion of the award consisted of a target number of 33 thousand PSUs, one third of which (11 thousand target PSUs) was scheduled to vest at the end of each fiscal year of 2019, 2020 and 2021. The actual number of PSUs eligible to vest at each vesting date ranged from 0% to 200% of the target number, depending on the level of achievement of goals related to revenue growth and Adjusted EBITDA margin for each of those years.

On November 2, 2019, the Compensation Committee granted the equity award for 2020 to Mr. Courtot. The first portion of the award consisted of 49 thousand RSUs that were scheduled to vest in 16 quarterly installments beginning on December 1, 2019. The second portion of the award consisted of a target number of 124 thousand PSOs, which were scheduled to vest at the end of the three-year performance period from January 2020 through December 2022. The actual number of PSOs eligible to vest ranged from 0% to 200% of the target number, depending on the level of achievement of goals related to revenue growth and free cash flow per share growth during the performance period.

On December 10, 2020, the Compensation Committee granted the equity award for 2021 to Mr. Courtot. The first portion of the award consisted of 69 thousand RSUs that were scheduled to vest in 16 quarterly installments beginning on November 1, 2020. The second portion of the award consisted of a target number of 224 thousand PSOs, which were scheduled to vest at the end of the three-year performance period from January 2021 through December 2023. The actual number of PSOs eligible to vest ranged from 0% to 200% of the target number, depending on the level of achievement of goals related to revenue growth and free cash flow per share growth during the performance period.

The vesting of the above awards was conditioned on Mr. Courtot’s continued service through the vesting dates or, for PSOs and PSUs, the dates that performance is certified in addition to the achievement of performance goals. If Mr. Courtot’s employment was terminated (a) by reason of death or disability or (b) by the Company for reasons other than cause or good reason within 12 months following a change in control, then 100% of any unvested portions of these awards would vest, with any vesting in connection with change in control terminations conditioned upon the effectiveness of a release of claims in favor of the Company.

In February 2021 and 2020, 22 thousand shares (representing 200% of target number of awards) and 15 thousand shares (representing 135% of target number of awards) under the equity award for 2019 for Mr. Courtot, vested as a result of the Company achieving the corresponding level of performance goals for 2020 and 2019, respectively.

On March 19, 2021, Mr. Courtot resigned from the Company due to health issues. The Compensation Committee determined that Mr. Courtot’s termination of employment was on account of disability. In accordance with the grant agreements of the equity awards for 2021, 2020 and 2019 for Mr. Courtot, all remaining outstanding RSUs, PSUs and PSOs under these grants were subject to accelerated vesting and became fully vested at 100% of the target number of awards as of the date of his termination of employment, which consist of 127 thousand RSUs, 44 thousand PSUs and 348 thousand PSOs. As a result, the Company recognized an additional $27.3 million of stock-based compensation expense due to the accelerated vesting in the consolidated statements of operations for the year ended December 31, 2021.

On April 27, 2021, the Compensation Committee granted to the Company’s current president and chief executive officer an equity award consisting of certain RSUs and a target number of 10 thousand PSUs. The PSUs are scheduled to vest at the end of the three-year performance period from January 2021 through December 2023. The actual number of the PSUs eligible to vest range from 0% to 200% of the target number, depending on the level of achievement of goals related to revenue growth and free cash flow per share growth during the performance period. If the Company's current president and chief executive officer is terminated (a) by reason of death or disability or (b) by the Company for reasons other than cause or good reason within 12 months following a change in control, then 100% of any unvested portions of the award will vest, with any vesting in connection with terminations due to change in control conditioned upon the effectiveness of a release of claims in favor of the Company.

On October 28, 2021, the Compensation Committee approved to certain executive officers of the Company equity awards consisting of certain RSUs and an aggregate target number of 73 thousand PSUs. The target PSUs are scheduled to vest in three equal annual installments over a three-year period from January 2022 through December 2024. Each annual installments at 200% of the annual target will be considered granted when the performance targets for the corresponding performance year are determined and approved. The actual number of the PSUs eligible to vest each year range from 0% to 200% of the annual target number, depending on the level of achievement of goals related to revenue growth and adjusted EBITDA margin corresponding to that year. The vesting and release of the first and second installment is capped at 100% of the target number at the end of the first and second year, respectively, with cumulative achievement over 100%, if any, to be vested and released at the end of the third year, together with the vesting of the third installment.

On October 27, 2022, the Compensation Committee approved to certain executive officers of the Company equity awards consisting of certain RSUs and an aggregate target number of 86 thousand PSUs. The target PSUs are scheduled to vest in three equal annual installments over a three-year period from January 2023 through December 2025. Each annual installments at 200% of the annual target will be considered granted when the performance targets for the corresponding performance year is determined and approved. The actual number of the PSUs eligible to vest each year range from 0% to 200% of the annual target number, depending on the level of achievement of goals related to revenue growth and adjusted EBITDA margin corresponding to that year. The vesting and release of the first and second installment is capped at 100% of the target number at the end of the first and second year, respectively, with cumulative achievement over 100%, if any, to be vested and released at the end of the third year, together with the vesting of the third installment.

On February 6, 2023 and July 27, 2023, the Compensation Committee approved to certain executive officers of the Company equity awards consisting of certain RSUs and an aggregate target number of 6 thousand and 9 thousand PSUs, respectively. The target PSUs are scheduled to vest in three equal annual installments over a three-year period from January 2023 through December 2025. Each annual installments at 200% of the annual target will be considered granted when the performance targets for the corresponding performance year are determined and approved. The actual number of the PSUs eligible to vest each year ranges from 0% to 200% of the annual target number, depending on the level of achievement of goals related to revenue growth and adjusted EBITDA margin corresponding to that year. The vesting and release of the first and second installment is capped at 100% of the target number at the end of the first and second year, respectively, with cumulative achievement over 100%, if any, to be vested and released at the end of the third year, together with the vesting of the third installment.

On October 26, 2023, the Compensation Committee approved to certain executive officers of the Company equity awards consisting of certain RSUs and an aggregate target number of 81 thousand PSUs. The target PSUs are scheduled to vest in three equal annual installments over a three-year period from January 2024 through December 2026. Each annual installments at 200% of the annual target will be considered granted when the performance targets for the corresponding performance year is determined and approved. The performance targets are determined and approved each year in the first quarter of the corresponding performance year. Accordingly, such awards are not considered granted for accounting purposes as of December 31, 2023. The actual number of the PSUs eligible to vest each year range from 0% to 200% of the annual target number, depending on the level of achievement of goals related to revenue growth and adjusted EBITDA margin corresponding to that year. The vesting and release of the first and second installment is capped at 100% of the target number at the end of the first and second year, respectively, with cumulative achievement over 100%, if any, to be vested and released at the end of the third year, together with the vesting of the third installment.

For the PSUs approved on October 28, 2021, October 27, 2022, February 6, 2023, July 27, 2023 and October 26, 2023, any unvested PSU award may be accelerated in part or in full upon the occurrence of certain events, such as death or disability, or a change in control, as defined in the grant agreement.

For the years ended December 31, 2023, 2022 and 2021, stock-based compensation expenses of $[nil], $[nil] and $13.3 million for PSOs, respectively, and $7.4 million, $3.9 million and $5.3 million for PSUs, respectively, were recognized.

Stock Options

The weighted-average grant date fair value of the Company’s stock options granted for the years ended December 31, 2023, 2022 and 2021 was $49.08, $50.32 and $41.23, respectively, using the Black-Scholes-Merton option-pricing model based on the following assumptions:

Year Ended December 31,

2023

2022

2021

Expected term (in years)

3.8 to 3.9

4.3 to 4.4

5.2 to 5.5

Volatility

42% to 43%

40% to 43%

38% to 41%

Risk-free interest rate

3.7% to 4.9%

1.7% to 4.2%

0.5% to 1.2%

Dividend yield

—

The expected term of the options is based on evaluations of historical and expected future employee exercise behavior. The risk-free interest rate is based on the U.S. Treasury rates at the date of grant with maturity dates equal to the expected term at the grant date. The volatility was estimated using the historical volatility derived from the Company's common stock. The Company has not historically declared any dividends and does not expect to in the future.

A summary of the Company’s stock option activity is as follows:


	Outstanding Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life	Aggregate Intrinsic Value
	(in thousands)			(Years)	(in thousands)
Balance as of December 31, 2022	1,807	$	87.59	6.5	$	58,024
Granted	345	$	129.00
Exercised	(582)	$	78.32
Canceled	(123)	$	125.39
Balance as of December 31, 2023	1,447	$	97.98	6.5	$	142,302
Vested and expected to vest as of December 31, 2023	1,271	$	93.44	6.2	$	130,691
Exercisable as of December 31, 2023	739	$	68.68	4.5	$	94,272

The total intrinsic value of options exercised for the years ended December 31, 2023, 2022 and 2021 was $41.7 million, $39.8 million and $42.5 million, respectively. Intrinsic value of an option is the difference between the fair value of the Company’s common stock at the time of exercise and the exercise price paid.

Restricted Stock Units

A summary of the Company’s RSU activity is as follows:


	Outstanding RSUs		Weighted Average Grant Date Fair Value Per Share
	(in thousands)
Balance as of December 31, 2022	1,183	(1)	$	124.42
Granted	488	(2)	$	140.08
Vested	(414)	(3)	$	116.92
Forfeited	(183)	(4)	$	128.46
Balance as of December 31, 2023	1,074	(5)	$	133.60
Outstanding and expected to vest as of December 31, 2023	863		$	132.53

(1)Included 175 thousand PSUs granted to certain executive officers in 2022 and 2021.

(2)Included 10 thousand PSUs granted to certain executive officers in 2023

(3)Included 24 thousand PSUs granted to certain executive officers in 2021.

(4)Included 22 thousand PSUs granted to certain executive officers in 2022 and 2021.

(5)Included 139 thousand PSUs granted to certain executive officers in 2023, 2022 and 2021.

The aggregate fair value of RSUs vested for the years ended December 31, 2023, 2022 and 2021 was $55.7 million, $43.9 million and $59.5 million, respectively.

Employee Stock Purchase Plan

The weighted-average grant date fair value of the Company’s ESPP for the year ended December 31, 2023 and 2022 was $34.50 and $39.14, respectively, using the Black-Scholes-Merton option-pricing model based on the following assumptions:


	Year Ended December 31,
	2023	2022
Expected term (in years)	0.5	0.5
Volatility	30.0% to 43.8%	41.1% to 50.1%
Risk-free interest rate	5.0% to 5.5%	0.7% to 3.1%
Dividend yield	—	—

The expected term of the ESPP represents the six-month offering period. The risk-free interest rate is based on the U.S. Treasury rates at the date of grant with maturity dates equal to the expected term at the grant date. The volatility was estimated using the historical volatility derived from the Company's common stock. The Company has not historically declared any dividends and does not expect to in the future.

Share Repurchase Program

The Company's share repurchase program was authorized by the board of directors as follows:


Announcement Date	Authorized Dollar Value
	(in millions)
February 12, 2018	$	100.0
October 30, 2018	100.0
October 30, 2019	100.0
May 7, 2020	100.0
February 10, 2021	100.0
November 3, 2021	200.0
May 4, 2022	200.0
February 9, 2023	100.0
Total as of December 31, 2023	$	1,000.0

Shares may be repurchased from time to time on the open market in accordance with Rule 10b-18 of the Exchange Act of 1934, including pursuant to a pre-set trading plan adopted in accordance with Rule 10b5-1 under the Exchange Act. All share repurchases have been made using cash resources. Repurchased shares are retired and reclassified as authorized and unissued shares of common stock. On retirement of the repurchased shares, common stock is reduced by an amount equal to the number of shares being retired multiplied by the par value. The excess amount that is retired over its par value is first allocated as a reduction to additional paid-in capital based on the original cost of additional paid-in capital per share of identified issuances. The remaining amount is allocated to accumulated deficit.

On February 7, 2024, the Company announced that its Board of Directors authorized an additional $200.0 million under the share repurchase program, increasing the total amount of authorized repurchase to $1.2 billion.

For the years ended December 31, 2023, 2022 and 2021, the Company repurchased 1.3 million shares, 2.5 million shares and 1.1 million shares of its common stock for $170.8 million, $317.3 million and $130.0 million, respectively. As of December 31, 2023, $83.7 million remained available for share repurchases pursuant to the Company's share repurchase program.

On August 16, 2022, President Biden signed into law the Inflation Reduction Act of 2022 which contained provisions effective January 1, 2023, including a 1% excise tax on stock repurchases net of issue, which was immaterial to the Company's financial results and cash flows for the year ended December 31, 2023.

Accumulated Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Accumulated Other Comprehensive Income (Loss)

The components and changes in accumulated other comprehensive income (loss) were as follows:


	Available-for-sale debt securities		Cash flow hedges		Total
	(in thousands)
Balances at December 31, 2020	$	1,224	$	(1,708)	$	(484)
Change in unrealized gains (losses) during the period	(1,854)		2,837		983
Amount reclassified into income during the period	22		933		955
Tax effect	423		(870)		(447)
Net change during the period	(1,409)		2,900		1,491
Balances at December 31, 2021	(185)		1,192		1,007
Change in unrealized gains (losses) during the period	(2,462)		581		(1,881)
Amount reclassified into income during the period	—		(1,147)		(1,147)
Tax effect	(58)		132		74
Net change during the period	(2,520)		(434)		(2,954)
Balances at December 31, 2022	(2,705)		758		(1,947)
Change in unrealized gains (losses) during the period	2,858		(1,362)		1,496
Amount reclassified into income during the period	(16)		(1,957)		(1,973)
Tax effect	(29)		749		720
Net change during the period	2,813		(2,570)		243
Balances at December 31, 2023	$	108	$	(1,812)	$	(1,704)

Schedule of Effects on Incomebefore Income Taxes Reclassified from AOCI

The effects on income before income taxes of amounts reclassified from AOCI to the consolidated statements of operations were as follows:


	Year Ended December 31,
	2023		2022		2021

	(in thousands)
Reclassification of AOCI - Available-for-sale debt securities
Other income (expense), net	$	16	$	—	$	(22)

Reclassification of AOCI - Cash flow hedges
Revenues	$	3,077	$	1,897	$	(1,667)
Cost of revenues	(258)		(169)		149
Research and development	(712)		(478)		492
Sales and marketing	(44)		(30)		28
General and administrative	(106)		(73)		65
Total	$	1,957	$	1,147	$	(933)

Net Income Per Share - Anti-dilutive Net Income Per Share (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive shares (in shares)	910	781	595
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive shares (in shares)	763	686	534
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive shares (in shares)	140	90	61
Employee stock purchase plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive shares (in shares)	7	5	0

Stockholders' Equity and Stock-based Compensation - Performance-Based Stock Options and Restricted Stock Units (Details) shares in Thousands											1 Months Ended		6 Months Ended	9 Months Ended	12 Months Ended
	Oct. 26, 2023 shares	Jul. 27, 2023 shares	Feb. 06, 2023 shares	Oct. 27, 2022 shares	Oct. 28, 2021 shares	Apr. 27, 2021 shares	Mar. 19, 2021 shares	Dec. 10, 2020 shares	Nov. 02, 2019 shares	Dec. 21, 2018 shares	Feb. 28, 2021 shares	Feb. 29, 2020 shares	Jul. 27, 2023	Sep. 30, 2023 shares	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2018 shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Additional stock-based compensation cost \| $																	$ 27,300,000
Stock-based compensation \| $															$ 69,079,000	$ 53,408,000	67,579,000
Restricted stock units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vested (in shares)											22	15			414
Shares authorized for issuance (in shares)										33								33
Vesting period, term years									3 years	3 years
Target PSUs scheduled to vest (in shares)										11
Termination period, trigger month								12 months
Unvested awards to vest, percentage					100.00%			100.00%
Target number of awards, percentage											200.00%	135.00%
Accelerated vesting (in shares)							44
Granted (in shares)															488
Stock-based compensation \| $															$ 7,400,000	3,900,000	5,300,000
Award vesting rights, percentage										33.33%
Restricted stock units \| Minimum \| President and Chief Executive Officer
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vest ranging target percentage										0.00%
Restricted stock units \| Maximum \| President and Chief Executive Officer
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vest ranging target percentage										200.00%
Restricted stock units \| Time based Shared Based Compensation
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vested (in shares)										56
Number of quarterly periods to vest								16	16	16
Shares authorized for issuance (in shares)								69	49
Accelerated vesting (in shares)							127
Restricted stock units \| Performance Shares, Tranche Three \| Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vest ranging target percentage					0.00%					0.00%
Restricted stock units \| Performance Shares, Tranche Three \| Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vest ranging target percentage					200.00%					200.00%
Stock options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares authorized for issuance (in shares)								224	124
Vesting period, term years								3 years
Accelerated vesting (in shares)							348
Stock-based compensation \| $															$ 0	$ 0	$ 13,300,000
Stock options \| Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vest ranging target percentage								0.00%	0.00%
Stock options \| Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vest ranging target percentage								200.00%	200.00%
Performance-based Restricted Stock Units \| President and Chief Executive Officer
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period, term years						3 years
Termination period, trigger month						12 months
Unvested awards to vest, percentage						100.00%	100.00%
Granted (in shares)						10
Performance-based Restricted Stock Units \| Executive Officer
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period, term years	3 years			3 years	3 years								3 years
Unvested awards to vest, percentage	100.00%			100.00%									100.00%
Granted (in shares)	81	9	6	86	73									10
Performance-based Restricted Stock Units \| Minimum \| President and Chief Executive Officer
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vest ranging target percentage						0.00%
Performance-based Restricted Stock Units \| Minimum \| Executive Officer
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vest ranging target percentage	0.00%			0.00%									0.00%
Performance-based Restricted Stock Units \| Maximum \| President and Chief Executive Officer
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vest ranging target percentage						200.00%
Performance-based Restricted Stock Units \| Maximum \| Executive Officer
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vest ranging target percentage	200.00%			200.00%									200.00%

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net income	$ 151,595	$ 107,992	$ 70,960

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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482765/220-10-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-8

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-9

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 13: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480167/946-830-55-10

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483581/946-220-45-7

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(9))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(1)(d))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 20: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

Reference 32: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-7

Reference 35: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482740/230-10-45-28

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1A

Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1B

Reference 38: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 39: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

Employee Benefit Plan (Details) - USD ($) $ in Millions	12 Months Ended
Employee Benefit Plan (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Retirement Benefits [Abstract]
401(k) plan contribution	$ 4.1	$ 3.5	$ 2.4
Contribution amount	$ 2.3	$ 2.0	$ 1.7

Leases

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Leases

The Company leases certain offices, computer equipment and its shared cloud platform facilities under non-cancelable operating leases for varying periods through 2028. While under the Company's lease agreements the Company has options to extend its certain leases, the Company has not included renewal options in determining the lease terms for calculating its lease liabilities, as these options are not reasonably certain of being exercised. Lease expense was $16.1 million, $14.9 million and $16.8 million for the years ended December 31, 2023, 2022 and 2021, respectively.

Supplemental cash flow information related to operating leases was as follows:


	Year Ended December 31,
	2023		2022		2021

	(in thousands)
Cash payments included in the measurement of lease liabilities	$	14,984	$	15,751	$	14,646
Lease liabilities arising from obtaining right-of-use assets	$	121	$	8,669	$	4,110

The weighted average remaining lease term and the weighted average discount rate of the Company's operating leases were as follows:


	December 31,
	2023		2022
Weighted average remaining lease term (years)	3.1		3.7
Weighted average discount rate	5.2	%	5.2	%

Maturities of the Company's operating lease liabilities as of December 31, 2023 are as follows:


	(in thousands)
2024	$	13,053
2025	7,747
2026	4,498
2027	4,353
2028	1,466

Total minimum lease payments	31,117
Less: interest	(2,375)
Present value of net minimum lease payments	28,742
Less: lease liabilities, current	(11,857)
Lease liabilities, noncurrent	$	16,885

Leases

Supplemental cash flow information related to operating leases was as follows:


	Year Ended December 31,
	2023		2022		2021

	(in thousands)
Cash payments included in the measurement of lease liabilities	$	14,984	$	15,751	$	14,646
Lease liabilities arising from obtaining right-of-use assets	$	121	$	8,669	$	4,110

The weighted average remaining lease term and the weighted average discount rate of the Company's operating leases were as follows:


	December 31,
	2023		2022
Weighted average remaining lease term (years)	3.1		3.7
Weighted average discount rate	5.2	%	5.2	%

Maturities of the Company's operating lease liabilities as of December 31, 2023 are as follows:


	(in thousands)
2024	$	13,053
2025	7,747
2026	4,498
2027	4,353
2028	1,466

Total minimum lease payments	31,117
Less: interest	(2,375)
Present value of net minimum lease payments	28,742
Less: lease liabilities, current	(11,857)
Lease liabilities, noncurrent	$	16,885

Fair Value of Financial Instruments - Summary of the Fair Value of Marketable Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Amortized Cost
Due within One Year	$ 276,875
Due after One Year through Two Years	27,814
Mature over Two Years	14,639
Asset-backed securities	13,785
Amortized Cost	333,113	$ 322,012
Fair Value
Due within One Year	276,604
Due after One Year through Two Years	27,982
Mature over Two Years	14,781
Asset-backed securities	13,881
Total	$ 333,248	$ 319,306

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Net income	$ 151,595	$ 107,992	$ 70,960
Other comprehensive income (loss), net of tax
Net change in unrealized gains (losses) on available-for-sale debt securities, net of tax	2,813	(2,520)	(1,409)
Net change in unrealized gains (losses) on cash flow hedges, net of tax	(2,570)	(434)	2,900
Other comprehensive income (loss), net of tax	243	(2,954)	1,491
Comprehensive income	$ 151,838	$ 105,038	$ 72,451

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

Revenue from Contract with Customer [Abstract]

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Revenues	$ 554,458	$ 489,723	$ 411,172
Cost of revenues	107,485	102,788	89,439
Gross profit	446,973	386,935	321,733
Operating expenses:
Research and development	110,472	101,186	81,289
Sales and marketing	111,691	97,221	76,487
General and administrative	61,741	57,981	76,274
Total operating expenses	283,904	256,388	234,050
Income from operations	163,069	130,547	87,683
Other income (expense), net:
Interest income	16,905	5,191	2,287
Other expense, net	(1,323)	(2,038)	(573)
Total other income, net	15,582	3,153	1,714
Income before income taxes	178,651	133,700	89,397
Income tax provision	27,056	25,708	18,437
Net income	$ 151,595	$ 107,992	$ 70,960
Net income per share:
Basic (in USD per share)	$ 4.11	$ 2.81	$ 1.82
Diluted (in USD per share)	$ 4.03	$ 2.74	$ 1.77
Weighted average shares used in computing net income per share:
Basic (in shares)	36,879	38,453	39,030
Diluted (in shares)	37,602	39,344	40,118

Acquisitions (Details) - USD ($) $ in Millions			1 Months Ended
Acquisitions (Details) - USD ($) $ in Millions	Oct. 04, 2022	Aug. 19, 2021	Aug. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Developed technology
Business Acquisition [Line Items]
Weighted Average Life (Years)		5 years		4 years 7 months 6 days	4 years 7 months 6 days
Intangible assets acquired		$ 1.2
Payments to acquire intangibles		$ 1.1	$ 0.1
Assembled workforce
Business Acquisition [Line Items]
Weighted Average Life (Years)				2 years	2 years
Blue Hexagon Inc
Business Acquisition [Line Items]
Consideration transferred	$ 10.0
Payments for assets	8.5
Consideration payable	$ 1.5
Consideration term payable	18 months
Deferred revenue acquired	$ 1.4
Acquisition related costs	0.6
Blue Hexagon Inc \| Developed technology
Business Acquisition [Line Items]
Finite-lived intangibles acquired	$ 11.5
Weighted Average Life (Years)	5 years
Blue Hexagon Inc \| Assembled workforce
Business Acquisition [Line Items]
Finite-lived intangibles acquired	$ 0.4
Weighted Average Life (Years)	2 years

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 203,665	$ 173,719
Restricted cash	1,500	0
Short-term marketable securities	221,893	147,608
Accounts receivable, net of allowance of $778 and $736 as of December 31, 2023 and 2022, respectively	146,226	121,795
Prepaid expenses and other current assets	26,714	30,216
Total current assets	599,998	473,338
Long-term marketable securities	56,644	59,206
Property and equipment, net	32,599	47,428
Operating leases - right of use asset	22,391	33,752
Deferred tax assets, net	62,761	45,412
Intangible assets, net	9,715	12,801
Goodwill	7,447	7,447
Noncurrent restricted cash	1,200	2,700
Other noncurrent assets	19,863	18,857
Total assets	812,618	700,941
Current liabilities:
Accounts payable	988	2,808
Accrued liabilities	43,096	42,592
Deferred revenues, current	333,267	293,728
Operating lease liabilities, current	11,857	13,060
Total current liabilities	389,208	352,188
Deferred revenues, noncurrent	31,671	23,490
Operating lease liabilities, noncurrent	16,885	29,121
Other noncurrent liabilities	6,680	7,013
Total liabilities	444,444	411,812
Commitments and contingencies (Note 9)
Stockholders’ equity:
Preferred stock: $0.001 par value; 20,000 shares authorized, no shares issued and outstanding as of December 31, 2023 and 2022	0	0
Common stock: $0.001 par value; 1,000,000 shares authorized, 36,909 and 37,362 shares issued and outstanding as of December 31, 2023 and 2022, respectively	37	37
Additional paid-in capital	597,921	512,486
Accumulated other comprehensive loss	(1,704)	(1,947)
Accumulated deficit	(228,080)	(221,447)
Total stockholders’ equity	368,174	289,129
Total liabilities and stockholders’ equity	$ 812,618	$ 700,941

Revenue from Contracts With Customers

12 Months Ended

Dec. 31, 2023

Revenue from Contracts With Customers

Revenue from Contracts with Customers

The Company records deferred revenue when cash payments are received or due in advance of its performance obligations offset by revenue recognized in the period. Revenues of $292.2 million and $254.9 million were recognized during the years ended December 31, 2023 and December 31, 2022, respectively, which amounts were included in the deferred revenue balances of $317.2 million and $290.6 million as of December 31, 2022 and December 31, 2021, respectively

The Company's payment terms vary by the type and location of its customers. The term between invoicing and when payment is due is not significant. In certain circumstances, based on the credit quality of the customer, the Company requires payment before the products or services are delivered to the customer.

The following table sets forth the expected revenue from all remaining performance obligations as of December 31, 2023:


	(in thousands)
2024	$	200,872
2025	122,465
2026	46,327
2027	4,291
2028	397
2029 and thereafter	63
Total	$	374,415

Revenues allocated to remaining performance obligations represents the transaction price of noncancelable orders for which service has not been performed, which include deferred revenue and the amounts that will be invoiced and recognized as revenues in future periods from open contracts and excludes unexercised renewals. The Company applied the short-term contract exemption to exclude the remaining performance obligations that are part of a contract that has an original expected duration of one year or less.

From time to time, the Company enters into contracts with customers that extend beyond one year, with certain of its customers electing to pay for more than one year of services upon contract execution. The Company concluded that these contracts did not contain a financing component.

Revenues by sales channel are as follows:


	Year Ended December 31,
	2023		2022		2021

	(in thousands)
Direct	$	314,988	$	285,382	$	243,389
Partner	239,470		204,341		167,783
Total	$	554,458	$	489,723	$	411,172

The Company utilizes partners to enable and accelerate the adoption of its cloud platform by increasing its distribution capabilities and market awareness of its cloud platform as well as by targeting geographic regions outside the reach of its direct sales force. The Company's channel partners maintain relationships with their customers throughout the territories in which they operate and provide their customers with services and third-party solutions to help meet those customers’ evolving security and compliance requirements. As such, these partners may offer the Company's IT security and compliance solutions in conjunction with one or more of their own products or services and act as a conduit through which the Company can connect with these prospective customers to offer its solutions. For sales involving a channel partner, the channel partner engages with the prospective customer directly and involves the Company's sales team as needed to assist in developing and closing an order. When a channel partner secures a sale, the Company sells the associated subscription to the channel partner who in turn resells the subscription to the customer. Sales to channel partners are made at a discount and revenues are recorded at this discounted price over the subscription terms. The Company does not have any influence or specific knowledge of its partners' selling terms with their customers. See Note 13, "Segment and Geographic Area Information" for disaggregation of revenue by geographic area.

Deferred costs to obtain contracts are as follows:


	December 31,
	2023		2022

	(in thousands)
Current	$	5,858	$	5,018
Noncurrent	$	11,844	$	10,090

For the years ended December 31, 2023, 2022 and 2021, the Company recognized $6.0 million, $5.0 million and $4.0 million, respectively, of amortization expense relating to deferred costs to obtain contracts in sales and marketing expense in the consolidated statements of operations. During the same periods, there was no impairment loss related to the deferred costs to obtain contracts.

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.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

Segment and Geographic Area Information

Segment and Geographic Area Information

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Under ASC 280 Segment Reporting, operating segments are defined as components of an entity about which separate financial information is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The Company operates in one segment and has only one reportable segment. The Company’s chief operating decision maker is the Chief Executive Officer, who makes operating decisions, assesses performance and allocates resources on a consolidated basis. All of the Company’s principal operations and decision-making functions are located in the United States.

Revenue by geographic area, based on the customer's billing address, is as follows:


	Year Ended December 31,
	2023		2022		2021

	(in thousands)
United States	$	332,315	$	292,291	$	252,428
Foreign	222,143		197,432		158,744
Total revenues	$	554,458	$	489,723	$	411,172

Long-lived assets, which consist of Property and equipment, net and Operating leases - right of use asset, by geographic area, are as follows:


	December 31,
	2023		2022

	(in thousands)
United States	$	42,622	$	58,775
India	9,952		16,057
Rest of world	2,416		6,348
Total Long-lived Assets	$	54,990	$	81,180

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Stockholders' Equity and Stock-based Compensation - Stock-based Compensation (Details) - USD ($) shares in Thousands, $ in Millions		1 Months Ended		12 Months Ended
	Dec. 21, 2018	Feb. 28, 2021	Feb. 29, 2020	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Income tax benefit				$ 11.0	$ 8.3	$ 6.2
Stock options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized stock-based compensation expense				$ 23.3
Recognition period, years				2 years 7 months 6 days
Restricted stock units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized stock-based compensation expense				$ 94.3
Recognition period, years				2 years 9 months 18 days
Vested (in shares)		22	15	414
Performance period	3 years
Performance-based Restricted Stock Units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized stock-based compensation expense				$ 1.4
Recognition period, years				7 months 6 days
ESPP Shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized stock-based compensation expense				$ 0.3
Recognition period, years				1 month 6 days

Cover - USD ($) $ in Millions	12 Months Ended
Cover - USD ($) $ in Millions	Dec. 31, 2023	Feb. 12, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-35662
Entity Registrant Name	QUALYS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	77-0534145
Entity Address, Address Line One	919 E. Hillsdale Boulevard, 4th Floor
Entity Address, City or Town	Foster City
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94404
City Area Code	650
Local Phone Number	801-6100
Title of 12(b) Security	Common stock, $0.001 par value per share
Trading Symbol	QLYS
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 3,637
Entity Common Stock, Shares Outstanding		36,977,259
Documents Incorporated by Reference	Portions of the registrant's Proxy Statement for its 2024 Annual Meeting of Stockholders are incorporated by reference in Part III of this Annual Report on Form 10-K where indicated. Such proxy statement will be filed with the Securities and Exchange Commission within 120 days of the registrant's fiscal year ended December 31, 2023.
Entity Central Index Key	0001107843
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false

Commitment and Contingencies - Remaining Purchase Commitments (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2024	$ 20,743
2025	18,768
2026	12,365
2027	9,784
Total purchase commitments	$ 61,660

Stockholders' Equity and Stock-based Compensation - Fair Value Assumptions, Stock Options (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted average grant date fair value (in USD per share)	$ 49.08	$ 50.32	$ 41.23
Dividend yield	0.00%	0.00%	0.00%
Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term (in years)	3 years 9 months 18 days	4 years 3 months 18 days	5 years 2 months 12 days
Volatility	42.00%	40.00%	38.00%
Risk-free interest rate	3.70%	1.70%	0.50%
Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term (in years)	3 years 10 months 24 days	4 years 4 months 24 days	5 years 6 months
Volatility	43.00%	43.00%	41.00%
Risk-free interest rate	4.90%	4.20%	1.20%

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(01)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(02)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(01)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(02)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(v)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Goodwill and Intangible Assets Disclosure [Abstract]

Fair Value of Financial Instruments - Summary of Derivative Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair Value [Line Items]
Assets	$ 111	$ 1,493
Liabilities	1,986	4,679
Foreign currency forward contracts designated as cash flow hedge
Fair Value [Line Items]
Assets	63	1,041
Liabilities	1,502	2,634
Foreign currency forward contracts not designated as hedging instruments
Fair Value [Line Items]
Assets	48	452
Liabilities	$ 484	$ 2,045

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Federal statutory rate	21.00%	21.00%	21.00%
State taxes	2.60%	2.30%	3.10%
Stock-based compensation	2.70%	3.40%	10.30%
Excess tax benefits related to stock-based compensation	(2.90%)	(5.20%)	(5.40%)
Foreign source income	0.30%	3.80%	0.40%
Change in valuation allowance	0.10%	0.30%	0.20%
Foreign-derived intangible income deduction	(4.40%)	(4.90%)	(7.00%)
Federal and state research and development credit	(1.40%)	(1.30%)	(1.90%)
Accrual to return adjustments and Other	(2.90%)	(0.20%)	(0.10%)
Income tax provision	15.10%	19.20%	20.60%

Intangible Assets, Net (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Acquired Finite-Lived Intangible Assets by Major Class

The carrying values of intangible assets are as follows:


			December 31, 2023
(in thousands)	Weighted Average Life (Years)	Weighted Average Remaining Life (Years)	Cost		Accumulated Amortization		Net Book Value
Developed technology	4.6	1.1	$	40,141	$	(30,667)	$	9,474
Patent licenses	14.0	0.7	1,387		(1,322)		65
Assembled workforce	2.0	0.8	359		(223)		136
Total intangibles subject to amortization			$	41,887	$	(32,212)	$	9,675
Intangible assets not subject to amortization							40
Total intangible assets, net							$	9,715


			December 31, 2022
(in thousands)	Weighted Average Life (Years)	Weighted Average Remaining Life (Years)	Cost		Accumulated Amortization		Net Book Value
Developed technology	4.6	1.4	$	40,141	$	(27,860)	$	12,281
Patent licenses	14.0	1.7	1,387		(1,221)		166
Assembled workforce	2.0	1.7	359		(45)		314
Total intangibles subject to amortization			$	41,887	$	(29,126)	12,761
Intangible assets not subject to amortization							40
Total intangible assets, net							$	12,801

Schedule of Acquired Indefinite-Lived Intangible Assets by Major Class

The carrying values of intangible assets are as follows:


			December 31, 2023
(in thousands)	Weighted Average Life (Years)	Weighted Average Remaining Life (Years)	Cost		Accumulated Amortization		Net Book Value
Developed technology	4.6	1.1	$	40,141	$	(30,667)	$	9,474
Patent licenses	14.0	0.7	1,387		(1,322)		65
Assembled workforce	2.0	0.8	359		(223)		136
Total intangibles subject to amortization			$	41,887	$	(32,212)	$	9,675
Intangible assets not subject to amortization							40
Total intangible assets, net							$	9,715


			December 31, 2022
(in thousands)	Weighted Average Life (Years)	Weighted Average Remaining Life (Years)	Cost		Accumulated Amortization		Net Book Value
Developed technology	4.6	1.4	$	40,141	$	(27,860)	$	12,281
Patent licenses	14.0	1.7	1,387		(1,221)		166
Assembled workforce	2.0	1.7	359		(45)		314
Total intangibles subject to amortization			$	41,887	$	(29,126)	12,761
Intangible assets not subject to amortization							40
Total intangible assets, net							$	12,801

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

As of December 31, 2023, the Company expects amortization expense in future periods to be as follows:


	(in thousands)
2024	$	2,904
2025	2,556
2026	2,477
2027	1,738

Total expected future amortization expense	$	9,675

Fair Value of Financial Instruments - Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair Value [Line Items]
Amortized Cost	$ 333,113	$ 322,012
Unrealized Gains	525	7
Unrealized Losses	(390)	(2,713)
Fair Value	333,248	319,306
Cash excluded	149,000	61,200
Cash Equivalents
Fair Value [Line Items]
Amortized Cost	54,707	112,488
Unrealized Gains	4	4
Unrealized Losses	0	0
Fair Value	54,711	112,492
Short-term marketable securities:
Fair Value [Line Items]
Amortized Cost	222,168	148,867
Unrealized Gains	85	3
Unrealized Losses	(360)	(1,262)
Fair Value	221,893	147,608
Long-term marketable securities:
Fair Value [Line Items]
Amortized Cost	56,238	60,657
Unrealized Gains	436	0
Unrealized Losses	(30)	(1,451)
Fair Value	56,644	59,206
Commercial paper \| Short-term marketable securities:
Fair Value [Line Items]
Amortized Cost	54,254
Unrealized Gains	32
Unrealized Losses	(7)
Fair Value	54,279
Corporate bonds \| Short-term marketable securities:
Fair Value [Line Items]
Amortized Cost	23,013	36,908
Unrealized Gains	1	3
Unrealized Losses	(149)	(337)
Fair Value	22,865	36,574
Corporate bonds \| Long-term marketable securities:
Fair Value [Line Items]
Amortized Cost	33,337	28,146
Unrealized Gains	285	0
Unrealized Losses	(22)	(810)
Fair Value	33,600	27,336
Asset-backed securities \| Short-term marketable securities:
Fair Value [Line Items]
Amortized Cost		726
Unrealized Gains		0
Unrealized Losses		(2)
Fair Value		724
Asset-backed securities \| Long-term marketable securities:
Fair Value [Line Items]
Amortized Cost	13,785	14,435
Unrealized Gains	102	0
Unrealized Losses	(6)	(132)
Fair Value	13,881	14,303
U.S. Treasury and government agencies \| Short-term marketable securities:
Fair Value [Line Items]
Amortized Cost	144,901	110,225
Unrealized Gains	52	0
Unrealized Losses	(204)	(921)
Fair Value	144,749	109,304
U.S. Treasury and government agencies \| Long-term marketable securities:
Fair Value [Line Items]
Amortized Cost	9,116	18,076
Unrealized Gains	49	0
Unrealized Losses	(2)	(509)
Fair Value	9,163	17,567
Foreign government \| Short-term marketable securities:
Fair Value [Line Items]
Amortized Cost		1,008
Unrealized Gains		0
Unrealized Losses		(2)
Fair Value		1,006
Money market funds \| Cash Equivalents
Fair Value [Line Items]
Amortized Cost	87	82,701
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Value	87	82,701
U.S. Treasury and government agencies \| Cash Equivalents
Fair Value [Line Items]
Amortized Cost	54,620	29,787
Unrealized Gains	4	4
Unrealized Losses	0	0
Fair Value	$ 54,624	$ 29,791

Accumulated Other Comprehensive Income (Loss) - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 289,129	$ 436,714	$ 404,482
Change in unrealized gains (losses) during the period	1,496	(1,881)	983
Amount reclassified into income during the period	(1,973)	(1,147)	955
Tax effect	720	74	(447)
Other comprehensive income (loss), net of tax	243	(2,954)	1,491
Ending balance	368,174	289,129	436,714
Total
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(1,947)	1,007	(484)
Other comprehensive income (loss), net of tax	243	(2,954)	1,491
Ending balance	(1,704)	(1,947)	1,007
Available-for-sale debt securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(2,705)	(185)	1,224
Change in unrealized gains (losses) during the period	2,858	(2,462)	(1,854)
Amount reclassified into income during the period	(16)	0	22
Tax effect	(29)	(58)	423
Other comprehensive income (loss), net of tax	2,813	(2,520)	(1,409)
Ending balance	108	(2,705)	(185)
Cash flow hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	758	1,192	(1,708)
Change in unrealized gains (losses) during the period	(1,362)	581	2,837
Amount reclassified into income during the period	(1,957)	(1,147)	933
Tax effect	749	132	(870)
Other comprehensive income (loss), net of tax	(2,570)	(434)	2,900
Ending balance	$ (1,812)	$ 758	$ 1,192

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481372/852-10-55-10

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480167/946-830-55-12

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(19))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.6-05(4))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479617/946-210-S99-2

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(4)(b))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(6))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(7))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(31))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(30))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 14: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 4.E)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480418/310-10-S99-2

Schedule of Income before Income Tax, Domestic and Foreign

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

The Company’s geographical breakdown of income before income taxes is as follows:


	Year Ended December 31,
	2023		2022		2021

	(in thousands)
Domestic	$	164,958	$	122,013	$	80,472
Foreign	13,693		11,687		8,925
Income before income taxes	$	178,651	$	133,700	$	89,397

Schedule of Components of Income Tax Expense (Benefit)

Income tax provision consists of the following:


	Year Ended December 31,
	2023		2022		2021

	(in thousands)
Current
Federal	$	32,405	$	35,286	$	20,135
State	6,061		6,269		4,324
Foreign	5,218		4,606		3,701
Current income tax provision	43,684		46,161		28,160
Deferred
Federal	(13,584)		(17,097)		(7,342)
State	(2,009)		(3,055)		(1,722)
Foreign	(1,035)		(301)		(659)
Deferred income tax benefit	(16,628)		(20,453)		(9,723)
Income tax provision	$	27,056	$	25,708	$	18,437

Schedule of Effective Income Tax Rate Reconciliation

The reconciliation of the statutory federal income tax rate to the Company’s effective tax rate is as follows:


	Year Ended December 31,
	2023		2022		2021
Federal statutory rate	21.0	%	21.0	%	21.0	%
State taxes	2.6		2.3		3.1
Stock-based compensation	2.7		3.4		10.3
Excess tax benefits related to stock-based compensation	(2.9)		(5.2)		(5.4)
Foreign source income	0.3		3.8		0.4
Change in valuation allowance	0.1		0.3		0.2
Foreign-derived intangible income deduction	(4.4)		(4.9)		(7.0)
Federal and state research and development credit	(1.4)		(1.3)		(1.9)
Accrual to return adjustments and Other	(2.9)		(0.2)		(0.1)
Income tax provision	15.1	%	19.2	%	20.6	%

Schedule of Deferred Tax Assets and Liabilities

The components of the Company’s deferred tax assets and liabilities are as follows:


	December 31,
	2023		2022

	(in thousands)
Deferred tax assets
Research and development credit carryforwards	$	11,502	$	10,957
Fixed assets	581		—
Accrued liabilities	3,020		3,677
Deferred revenues	3,381		5,766
Operating lease liabilities	7,722		10,667
Intangible assets	3,549		3,465
Stock-based compensation	4,263		4,691
Capitalized research and development	47,793		30,234
Other	2,999		2,195
Gross deferred tax assets	84,810		71,652
Valuation allowance	(12,375)		(12,476)
Total deferred tax assets	72,435		59,176
Deferred tax liabilities
Fixed assets	—		(1,745)
Operating leases - right of use asset	(5,999)		(8,359)
Deferred commissions	(3,675)		(3,660)
Total deferred tax liabilities	(9,674)		(13,764)
Net deferred tax assets	$	62,761	$	45,412

Schedule of Unrecognized Tax Benefits Roll Forward

The following table summarizes the activity related to the Company’s unrecognized tax benefits:


	Year Ended December 31,
	2023		2022		2021

	(in thousands)
Unrecognized tax benefits beginning balance	$	10,542	$	9,676	$	8,855
Gross increase for tax positions of prior years	262		89		—
Gross decrease for tax positions of prior years	—		—		(25)
Gross increase for tax positions of current year	1,127		777		846
Lapse of statute of limitations	(33)		—		—
Total unrecognized tax benefits	$	11,898	$	10,542	$	9,676

Property and Equipment, Net - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 251,127	$ 242,869
Less: accumulated depreciation and amortization	(218,528)	(195,441)
Property and equipment, net	32,599	47,428
Computer equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	179,002	173,832
Computer software
Property, Plant and Equipment [Line Items]
Total property and equipment	26,133	25,808
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment	20,924	21,009
Scanner appliances
Property, Plant and Equipment [Line Items]
Total property and equipment	18,369	15,696
Furniture, fixtures and equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 6,699	$ 6,524

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Cash payments included in the measurement of lease liabilities	$ 14,984	$ 15,751	$ 14,646
Lease liabilities arising from obtaining right-of-use assets	$ 121	$ 8,669	$ 4,110

Commitment and Contingencies

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Commitment and Contingencies

Purchase Obligation

The Company has entered into agreements to purchase goods and services in the ordinary course of business. As of December 31, 2023, these remaining purchase commitments for future periods are as follows:


	(in thousands)
2024	$	20,743
2025	18,768
2026	12,365
2027	9,784

Total purchase commitments	$	61,660

Indemnifications

The Company from time to time enters into certain types of contracts that contingently require it to indemnify various parties against claims from third parties. These contracts primarily relate to (i) the Company's bylaws, under which it must indemnify directors and executive officers, and may indemnify other officers and employees, for liabilities arising out of their relationship, (ii) contracts under which the Company must indemnify directors and certain officers for liabilities arising out of their relationship, and (iii) contracts under which the Company may be required to indemnify customers or resellers from certain liabilities arising from potential infringement of intellectual property rights, as well as potential damages caused by limited product defects. To date, the Company has not incurred and has not recorded any liability in connection with such indemnifications.

The Company maintains director and officer insurance, which may cover certain liabilities arising from its obligation to indemnify its directors.

Legal Proceedings

From time to time the Company may become involved in legal proceedings or be subject to claims arising in the ordinary course of the Company's business. The Company records a provision for a liability when it is both probable that a liability has been incurred and the amount can be reasonably estimated. Legal expenses related to such matters are expensed as incurred. The Company provides disclosure if it is reasonably possible that a loss has been incurred and a range of loss or possible loss can be reasonably estimated. Significant judgment is required to determine both probability and the estimated amount. The Company reviews these provisions at least quarterly and adjust these provisions to reflect the impact of negotiations, settlements, rulings, advice of legal counsel, and updated information.

As of December 31, 2023, there has not been at least a reasonable possibility that the Company has incurred a material loss from any ongoing legal proceedings, individually or taken together. However, litigation is inherently unpredictable and is subject to significant uncertainties, some of which are beyond the Company's control. Should any of these estimates and assumptions change or prove to have been incorrect, the Company could incur significant charges related to legal matters which could have a material impact on its results of operations, financial position and cash flows.

Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Schedule of Supplemental Cash Flow Information

Supplemental cash flow information related to operating leases was as follows:


	Year Ended December 31,
	2023		2022		2021

	(in thousands)
Cash payments included in the measurement of lease liabilities	$	14,984	$	15,751	$	14,646
Lease liabilities arising from obtaining right-of-use assets	$	121	$	8,669	$	4,110

Schedule of Weighted Average Remaining Lease Term and Weighted Average Discount Rate

The weighted average remaining lease term and the weighted average discount rate of the Company's operating leases were as follows:


	December 31,
	2023		2022
Weighted average remaining lease term (years)	3.1		3.7
Weighted average discount rate	5.2	%	5.2	%

Schedule of Operating Lease Liability

Maturities of the Company's operating lease liabilities as of December 31, 2023 are as follows:


	(in thousands)
2024	$	13,053
2025	7,747
2026	4,498
2027	4,353
2028	1,466

Total minimum lease payments	31,117
Less: interest	(2,375)
Present value of net minimum lease payments	28,742
Less: lease liabilities, current	(11,857)
Lease liabilities, noncurrent	$	16,885

Intangible Assets, Net (Details) - USD ($) $ in Millions	12 Months Ended
Intangible Assets, Net (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible asset amortization	$ 3.1	$ 5.7	$ 6.7

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Contingency [Line Items]
Valuation allowance	$ 12,375	$ 12,476
State research and development credit carryforwards	17,000	16,200
Unrecognized tax benefits	6,100	5,300	$ 4,900
Foreign Tax Authority
Income Tax Contingency [Line Items]
Tax credit carryforward	$ 1,000	$ 900

Acquisitions	12 Months Ended
Acquisitions	Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions On October 4, 2022, the Company acquired certain assets of Blue Hexagon Inc., a privately held company incorporated in Delaware, for $10.0 million in cash, of which $8.5 million was paid on the acquisition date and the remaining $1.5 million will be due eighteen months from the acquisition date, subject to potential adjustment from possible indemnity claims. In addition, the Company assumed $1.4 million deferred revenue. Blue Hexagon's AI/ML-driven network detection enables the Company to leverage its cloud platform with AI/machine learning to uncover behavior patterns including active vulnerability exploitation, identification of advanced network threats, and adaptive risk mitigation across all assets and application. The Company accounted for this transaction as an asset acquisition, as substantially all of the fair value is concentrated in developed technology acquired. The Company incurred $0.6 million transaction costs which is included as the cost of acquiring the intangible assets. The Company recognized intangible assets of $11.5 million for developed technology and $0.4 million for assembled workforce, which will be amortized over five years and two years, respectively. On August 19, 2021, the Company acquired certain developed technology intangible assets of TotalCloud, a privately held company incorporated in India, for a total cash consideration of $1.2 million, of which $1.1 million was paid on the acquisition date and the remaining $0.1 million was deferred and paid in August 2022. TotalCloud's technology strengthens the Company's cloud security solution by allowing customers to build user-defined workflows for custom policies and execute them on-demand for simplified security and compliance. The acquired intangible assets will be amortized over five years. There were no changes in the carrying amount of goodwill for the years ended December 31, 2023 and 2022.

Stockholders' Equity and Stock-based Compensation - Employee Stock Purchase Plan, Valuation Assumptions (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted average grant date fair value (in USD per share)	$ 49.08	$ 50.32	$ 41.23
Dividend yield	0.00%	0.00%	0.00%
The 2021 Employee Stock Purchase Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted average grant date fair value (in USD per share)	$ 34.50	$ 39.14
Expected term (in years)	6 months	6 months
Volatility, minimum	30.00%	41.10%
Volatility, maximum	43.80%	50.10%
Risk-free interest rate, minimum	5.00%	0.70%
Risk-free interest rate, maximum	5.50%	3.10%
Dividend yield	0.00%	0.00%

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

The Company and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Description Of Business	Description of Business Qualys, Inc. (the “Company”, "we", "us", "our") was incorporated in the state of Delaware on December 30, 1999. The Company is headquartered in Foster City, California and has wholly-owned subsidiaries throughout the world. The Company is a leading provider of cloud-based IT, security and compliance solutions that enable organizations to identify security risks to their IT infrastructures, help protect their IT systems and applications from ever-evolving cyber-attacks and achieve compliance with internal policies and external regulations. The Company’s cloud solutions address the growing security and compliance complexities and risks that are amplified by the dissolving boundaries between internal and external IT infrastructures and web environments, the rapid adoption of cloud computing and the proliferation of geographically dispersed IT assets. Organizations can use the Company’s integrated suite of solutions delivered on Qualys' Enterprise TruRisk Platform to cost-effectively obtain a unified view of their security and compliance posture across globally-distributed IT infrastructures.
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements and footnotes have been prepared in accordance with U.S. GAAP as well as the instructions to Form 10-K and the rules and regulations of the SEC. Certain prior year amounts have been reclassified to conform with the current year presentation. In the opinion of management, the accompanying consolidated financial statements reflect all adjustments, which include only normal recurring adjustments, necessary for the fair presentation of the Company’s consolidated financial position, results of operations and cash flows for the periods presented. The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated upon consolidation.
Use of Estimates	Use of Estimates The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of assets and liabilities at the date of the consolidated financial statements and the reported results of operations during the reporting period. The Company’s management regularly assesses these estimates, which primarily affect revenue recognition, allowance for credit loss, the valuation of goodwill and intangible assets, leases, stock-based compensation and income tax provision. Actual results could differ from those estimates and such differences may be material to the accompanying consolidated financial statements.
Concentration of Credit Risk	Concentration of Credit Risk The Company invests its cash and cash equivalents with major financial institutions. Cash balances with any one institution at times may be in excess of federally insured limits. Cash equivalents are invested in high-quality investment grade financial instruments and are diversified. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk. Credit risk with respect to accounts receivable is dispersed due to the large number of customers. Collateral is not required for accounts receivable. As of December 31, 2023 and 2022, no customer or channel partner accounted for more than 10% of the Company's revenues and accounts receivable balance.
Cash, Cash Equivalents, Restricted cash and Short-Term and Long-Term Marketable Securities	Cash, Cash Equivalents, Restricted cash and Short-Term and Long-Term Marketable Securities Cash and cash equivalents include cash held in banks, highly liquid money market funds, and fixed-income U.S. Treasury and government agencies, all with original maturities of three months or less when acquired. The Company’s short-term and long-term marketable securities consist of fixed-income U.S. and foreign government agency securities, corporate bonds, asset-backed securities and commercial paper. Management determines the appropriate classification of the Company's investments at the time of purchase and reevaluates such designation at each balance sheet date. The Company classifies its marketable securities as either short-term or long-term based on each instrument's underlying remaining contractual maturity date. As of December 31, 2023 and 2022, the Company had a restricted cash balance of $2.7 million, of which $1.5 million is related to cash held in escrow as part of the Blue Hexagon acquisition and $1.2 million in the form of a letter of credit issued to the landlord of the Company's California headquarter office lease as security deposit. Cash equivalents are stated at cost, which approximates fair market value. Short-term and long-term marketable securities are classified as available-for-sale debt securities (AFS debt securities) and are carried at fair value. Unrealized gains and losses in fair value of the AFS debt securities are reported in other comprehensive income (loss). When the AFS debt securities are sold, cost is based on the specific identification method, and the realized gains and losses are included in other income (expense), net in the consolidated statements of operations. AFS debt securities are reviewed quarterly for impairment. An investment is considered impaired when its fair value is below its amortized cost. Declines in fair value from amortized cost for AFS debt securities that the company intends to sell or will more likely than not be required to sell before the expected recovery of the amortized cost basis are charged to other income (expense), net in the period in which the loss occurs. Otherwise, the credit loss component of the impairment is recorded as allowance for credit losses with an offsetting entry charged to other income (expense), net, while the remaining loss is recognized in other comprehensive income (loss).
Accounts Receivable	Accounts Receivable Accounts receivable are recorded at the invoiced amount and do not bear interest. The allowance for credit losses is determined on a collective basis where similar risk characteristics exist and on an individual basis when the Company identifies significant customers or invoices with collectability issues. The estimate for credit losses considers historical write-offs by aging category, that are adjusted for current conditions and reasonable and supportable forecasts of future losses. Any change in the assumptions used in analyzing credit losses may result in additional allowances being recognized in the period in which the change occurs. When the Company ultimately concludes that a receivable is uncollectible, the balance is written off against the allowance for credit losses. Payments subsequently received on such receivables are recognized in the period received. The allowance for credit losses recognized and write-offs charged against the allowance were not significant for the years ended December 31, 2023 and 2022. The balance of accounts receivable, net of allowance for credit losses was $146.2 million, $121.8 million and $109.0 million as of December 31, 2023, December 31, 2022 and December 31, 2021, respectively.
Non-marketable securities	Non-marketable securities In 2018, the Company invested $2.5 million in preferred stock of a privately-held company (the “Investee”). The fair value of the investment is not readily available, and there are no quoted market prices for the investment. The Company elected the measurement alternative to account for the investment at cost less impairment and will measure the investment at fair value when the Company identifies observable price changes. The investment is assessed for impairment annually or whenever events or changes in circumstances indicate that the fair value of the investment is less than carrying value. The investment is included in other noncurrent assets in the consolidated balance sheets. The Company has not received any dividends from the investment. During the second quarter of 2023, the Company identified an observable price change in the investment and recognized an immaterial unrealized loss in other income (expense), net of the consolidated statement of operations. In 2019, the Company made an advance payment of $0.6 million to the Investee for it to perform certain technology development work, which should either be settled in the form of royalty fee charges when the technology materializes and is licensed to the Company or, otherwise, should be repaid to the Company in cash. The advance payment was recorded in other non-current assets in the consolidated balance sheet. During the fourth quarter ended December 31, 2021, the technology has not been developed and the Company decided to no longer pursue the development of the technology or the collection of the advanced amount. Accordingly, the entire amount of the advance payment was written off and recorded in the general and administrative expense during the year ended December 31, 2021.
Property and Equipment, net	Property and Equipment, net Property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, which range from three to five years. Leasehold improvements are amortized on a straight-line basis over the lesser of the estimated useful life of the asset or the remaining lease term. The Company purchases physical scanner appliances and other computer equipment that are provided to some customers on a subscription basis. This equipment is recorded within property and equipment and the depreciation is recorded in cost of revenues over an estimated useful life of three years. Upon retirement or disposal, the cost of assets and the related accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in the consolidated statements of operations. Repairs and maintenance that do not extend the life of an asset are expensed as incurred and major improvements are capitalized as property and equipment.
Leases	Leases The Company leases certain offices, computer equipment and its shared cloud platform facilities under finance leases and non-cancelable operating leases. For both operating and finance leases, the Company recognizes a right-of-use asset, which represents the Company's right to use the underlying asset for the lease term, and a lease liability, which represents the present value of the Company's obligation to make payments arising over the lease term. Many of the Company's leases include rental escalation clauses, renewal options and/or termination options that are factored into the Company's determination of lease payments and lease terms when appropriate. The present value of the lease payments is calculated using the incremental borrowing rate of the underlying leases determined at lease commencement. As most of the Company's leases do not provide a readily determinable implicit rate, the Company determines an incremental borrowing rate using a portfolio approach based on the rate of interest that the Company would have to pay to borrow an amount equal to the lease payments on a collateralized basis over a similar term as the leases. Where the Company is the lessee, the Company elects to account for non-lease components associated with its leases (e.g., common area maintenance costs) and lease components separately for substantially all of its asset classes, except for shared cloud platforms, for which the Company elected to combine lease and non-lease components. For leases with a term of one year or less, the Company has elected not to record the right-of-use asset or liability. In arrangements where the Company is the lessor, the Company elected to apply the practical expedient to account for lease components (e.g., customer premise equipment) and non-lease components (e.g., service revenue) as combined components as revenue under ASC 606 as service revenues are the predominant components in the arrangements.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets The Company evaluates its long-lived assets, which consist of property and equipment, and intangible assets subject to amortization, for indicators of possible impairment when events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. Impairment exists if the carrying amounts of such assets exceed the estimates of future undiscounted cash flows expected to be generated by such assets. Should an impairment exist, the impairment loss would be measured based on the excess carrying value of the asset over the asset’s estimated fair value. For the years ended December 31, 2023, 2022 and 2021, there was no impairment of long-lived assets.
Goodwill and Intangible Assets and Software Development Costs	Goodwill and Intangible Assets Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in a business combination. Goodwill and indefinite-lived intangible assets are not amortized but tested for impairment at least annually or more frequently if certain circumstances indicate a possible impairment may exist. The goodwill impairment tests are performed at the reporting unit level. The Company’s operations are organized as one reporting unit. In testing for a potential impairment of goodwill and the indefinite-lived intangible assets, the Company first performs a qualitative assessment to determine if it is more likely than not (a more than 50% likelihood) that the fair value of the reporting unit or the indefinite-lived intangible assets is less than their carrying amount. If the fair value is not considered to be less than the carrying amount, no further evaluation is necessary. Otherwise, the Company will perform a quantitative test. Goodwill impairment is measured as the amount by which the carrying value of the reporting unit or the indefinite-lived intangible assets exceeds their fair value. The Company performed the annual assessments on December 1, 2023 and 2022 and concluded there was no impairment of goodwill or the indefinite-lived intangible assets. Software Development Costs The costs to develop software that is marketed externally have not been capitalized as the Company believes its current software development process is essentially completed concurrent with the establishment of technological feasibility. As such, all related software development costs are expensed as incurred and included in research and development expense on the Company's consolidated statements of operations. Costs related to software developed, acquired or modified for internal use are capitalized and included in other noncurrent assets on the consolidated balance sheets. Costs incurred during the preliminary planning and evaluation stage of the project and during the post implementation stages of the project are expensed as incurred. Costs incurred during the application development stage of the project are capitalized. These capitalized costs consist of internal compensation related costs and external direct costs. Costs related to software developed for internal use are amortized over an estimated useful life of three years and recorded in cost of revenues. Management evaluates the useful lives of these assets on an annual basis and tests for impairment whenever events or changes in circumstances occur that could impact the recoverability of these assets. As of December 31, 2023 and 2022, unamortized balances related to the Company's internally developed software costs are immaterial.
Asset Acquisitions	Asset Acquisitions and Business Combinations The Company applies the provisions of ASC 805, Business Combinations, in accounting for its acquisitions. To determine whether transactions should be accounted for as asset acquisition or business combination, the Company evaluates whether substantially all of the fair value of gross assets included in a transaction is concentrated in a single asset (or a group of similar assets), resulting in an asset acquisition, if not, resulting in a business combination. In an asset acquisition, the cost of acquiring the asset group, including transaction costs, is allocated to the acquired assets or assumed liabilities based on their relative fair values without giving rise to goodwill. In a business combination, the Company recognize separately from goodwill the assets acquired and the liabilities assumed at their acquisition date fair values. Goodwill as of the acquisition date is measured as the excess of consideration transferred over the net of the acquisition date fair values of the assets acquired and the liabilities assumed. While the Company uses its best estimates and assumptions to accurately value assets acquired and liabilities assumed at the acquisition date as well as any contingent consideration, where applicable, its estimates are inherently uncertain and subject to refinement. As a result, during the measurement period, which may be up to one year from the acquisition date, the Company records adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to its consolidated statements of operations.
Business Combinations	Asset Acquisitions and Business Combinations The Company applies the provisions of ASC 805, Business Combinations, in accounting for its acquisitions. To determine whether transactions should be accounted for as asset acquisition or business combination, the Company evaluates whether substantially all of the fair value of gross assets included in a transaction is concentrated in a single asset (or a group of similar assets), resulting in an asset acquisition, if not, resulting in a business combination. In an asset acquisition, the cost of acquiring the asset group, including transaction costs, is allocated to the acquired assets or assumed liabilities based on their relative fair values without giving rise to goodwill. In a business combination, the Company recognize separately from goodwill the assets acquired and the liabilities assumed at their acquisition date fair values. Goodwill as of the acquisition date is measured as the excess of consideration transferred over the net of the acquisition date fair values of the assets acquired and the liabilities assumed. While the Company uses its best estimates and assumptions to accurately value assets acquired and liabilities assumed at the acquisition date as well as any contingent consideration, where applicable, its estimates are inherently uncertain and subject to refinement. As a result, during the measurement period, which may be up to one year from the acquisition date, the Company records adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to its consolidated statements of operations.
Derivative Financial Instruments	Derivative Financial Instruments Derivative financial instruments are utilized by the Company to reduce foreign currency exchange risks. The Company uses foreign currency forward contracts, with maturities of 13 months or less, to mitigate the impact of foreign currency fluctuations of certain non-U.S. dollar denominated net asset positions, to date primarily cash, accounts receivable and operating lease liabilities, as well as to manage foreign currency fluctuation risk related to forecasted transactions. Open contracts are recorded within prepaid expenses and other current assets, other noncurrent assets, accrued liabilities or other noncurrent liabilities in the consolidated balance sheets. Gains and losses resulting from currency exchange rate movements on non-designated forward contracts are recognized in other income (expense), net. Any gains or losses from derivatives designated as cash flow hedges are first recorded within accumulated other comprehensive income (“AOCI”) and then reclassified into revenue or operating expenses when the hedged item impacts the consolidated statements of operations. Cash flows related to these forward contracts are classified in the Company's consolidated statements of cash flows in the same manner as the underlying hedged transaction within cash flows from operating activities.
Stock-Based Compensation	Stock-Based Compensation The Company recognizes the fair value of its stock options, restricted stock units (“RSUs”) and stock purchase rights under the ESPP on a straight-line basis over the requisite service periods. The fair value of each stock option or stock purchase right is estimated on the date of grant using the Black-Scholes-Merton option pricing model and the fair value of each RSU is based on the Company's common stock price on the date of grant. Compensation expenses for performance-based stock options (“PSOs”) and performance-based restricted stock units (“PSUs”) are recorded based on expected achievement of the performance metrics specified in the grant, which are assessed on a quarterly basis. Forfeitures are estimated on the date of grant and revised if actual or expected forfeiture materially differs from original estimates.
Revenue Recognition	Revenue Recognition The Company derives revenues from subscriptions that require customers to pay a fee in order to access the Company’s cloud solutions. Contract period with customers generally are one year with occasional contracts ranging up to five years. The subscription fee entitles the customer to an unlimited number of scans for a specified number of networked devices or web applications and, if requested by a customer as part of their subscription, a specified number of physical or virtual scanner appliances. The Company’s physical and virtual scanner appliances are requested by certain customers as part of their subscriptions in order to scan IT infrastructures within their firewalls and do not function without, and are not sold separately from, subscriptions for the Company’s solutions. In some limited cases, the Company also provides certain computer equipment used to extend Qualys' Enterprise TruRisk Platform into its customers’ private cloud environment. Customers are required to return physical scanner appliances and computer equipment if they do not renew their subscriptions. The Company determines revenue recognition through the following steps: •Identification of the contract, or contracts, with a customer; •Identification of the performance obligations in the contract; •Determination of the transaction price; •Allocation of the transaction price to the performance obligations in the contract; and •Recognition of revenue when, or as, the Company satisfies a performance obligation. At the inception of a customer contract, the Company makes an assessment as to that customer's ability to pay for the services provided. The Company assesses collectability based on several factors, including credit worthiness of the customer along with past transaction history. In addition, the Company performs periodic evaluations of its customers’ financial condition. Most of the Company’s revenue contracts are subscription based and contain a single performance obligation. The subscription contracts typically do not offer to the customers any future rights that would constitute material rights. Contract prices are generally composed of fixed consideration for a specific period of time as the Company in general does not offer refunds, volume rebates, customer loyalty programs or other forms of customer incentive payments. In limited situations, contract prices are contingent on future events, such as actual usage during the contract terms, which are accounted for as variable consideration and estimated based on the most likely amount of consideration that the Company is expected to be entitled to. Estimates are included in the contract price to the extent that it is considered probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. Such estimates are made at contract inception and updated periodically when additional information becomes available. A cumulative catch-up adjustment is made when there is a change in the estimate of variable consideration. As the Company's cloud-based subscription services are delivered to customers electronically and over time, revenue is generally recognized ratably over the contract terms. When physical equipment is provided to the customers as part of the subscription service contract, the Company applies the practical expedient allowed under ASC 842 Leases to combine lease and nonlease components as a combined component to be accounted for under ASC 606, as the Company determined that the software subscription is the predominant component of the combined components. Therefore, the Company recognizes revenue for the physical equipment ratably over the related subscription period. Contract modifications happen when there is an upsell, where the customers subsequently enter into contract with the Company to purchase additional product offerings or additional scans for additional devices. Contract modifications related to upsells are accounted for prospectively. Deferred revenues consist of customer contracts billed or cash received that will be recognized in the future under subscriptions existing at the balance sheet date. The current portion of deferred revenues represents amounts that are expected to be recognized within one year of the balance sheet date. Costs of shipping and handling charges incurred by the Company associated with physical scanner appliances and other computer equipment are included in cost of revenues. Sales taxes and other taxes collected from customers to be remitted to government authorities are excluded from revenues. Incremental direct costs of obtaining a contract, which consist of sales commissions primarily for new business and upsells, are deferred and amortized over the estimated life of the customer relationship if renewals are expected and the renewal commission is not commensurate with the initial commission. The Company elected the practical expedient to expense commissions on renewals where the specific anticipated contract term amortization period is one year or less. The Company amortizes the capitalized commission cost as a selling expense on a straight-line basis over a period of five years. The Company classifies deferred commissions as current or noncurrent based on the timing of when it expects to recognize the expense. The current and noncurrent portions of deferred commissions are included in prepaid expenses and other current assets and other noncurrent assets, respectively, in its consolidated balance sheets.
Advertising Expenses	Advertising Expenses Advertising costs are expensed as incurred and are included in sales and marketing expense in the consolidated statements of operations.
Income Taxes	Income Taxes The Company provides for the effect of income taxes in its consolidated financial statements using the asset and liability method which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the consolidated financial statements. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, net operating loss carryovers, and tax credit carry forwards. The Company regularly reviews its deferred tax assets for recoverability and establishes a valuation allowance if it is more likely than not that some portion or all of the deferred tax assets will not be realized. To make this assessment, the Company takes into account predictions of the amount and category of taxable income from various sources and all available positive and negative evidence about these possible sources of taxable income. The weight given to the potential effect of negative and positive evidence is commensurate with the extent to which the strength of the evidence can be objectively verified. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the period that includes the enactment date. Income tax expense or benefit is recognized for the amount of taxes payable or refundable for the current year and for deferred tax assets and liabilities for the tax consequences of events that have been recognized in an entity’s financial statements or tax returns. The Company must make significant assumptions, judgments and estimates to determine its current income tax provision (benefit), its deferred tax assets and liabilities, and any valuation allowance to be recorded against its deferred tax assets. The Company's estimates and assumptions may differ from the actual results as reflected on its income tax returns and will record the required adjustments when they are identified or resolved. The Company applies a two-step approach to determining the financial statement recognition and measurement of uncertain tax positions. The Company only recognizes an income tax expense or benefit with respect to uncertain tax positions in its financial statements that the Company judges is more likely than not to be sustained solely on its technical merits in a tax audit, including resolution of any related appeals or litigation processes. To make this judgment, the Company must interpret complex and sometimes ambiguous tax laws, regulations and administrative practices. If an income tax position meets the more likely than not recognition threshold, then the Company must measure the amount of the tax benefit to be recognized by determining the largest amount of tax benefit that has a greater than a 50% likelihood of being realized upon effective settlement with a taxing authority that has full knowledge of all of the relevant facts. It is inherently difficult and subjective to estimate such amounts, as this requires the Company to determine the probability of various possible settlement outcomes. To determine if a tax position is effectively settled after a tax examination has been completed, the Company must also estimate the likelihood that another taxing authority could review the respective tax position. The Company must also determine when it is reasonably possible that the amount of unrecognized tax benefits will significantly increase or decrease in the 12 months after each fiscal year-end. These judgments are difficult because a taxing authority may change its behavior as a result of the Company's disclosures in its financial statements. The Company must reevaluate its income tax positions on a quarterly basis to consider factors such as changes in facts or circumstances, changes in tax law, effectively settled issues under audit, and new audit activity. Such a change in recognition or measurement would result in recognition of a tax benefit or an additional charge to the tax provision. The Company's policy is to recognize interest and penalties related to unrecognized tax benefits as a component of the provision for income taxes.
Comprehensive Income (Loss)	Comprehensive Income (Loss) Other comprehensive income (loss) consists of unrealized gains (losses) on marketable securities, net of tax, and derivative financial instruments designated as cash flow hedges, net of tax, which are not included in the Company’s net income. Total comprehensive income includes net income and other comprehensive income (loss) and is included in the consolidated statements of comprehensive income.
Foreign Currency Transactions	Foreign Currency Transactions The Company’s operations are conducted in various countries around the world and the financial statements of its foreign subsidiaries are reported in the U.S. dollar as their respective functional currency. Monetary assets and liabilities denominated in foreign currencies have been re-measured into U.S. dollars using the exchange rates in effect at the balance sheet date, and income and expenses are re-measured at average exchange rates during the period. Foreign currency re-measurement gains and losses and foreign currency transaction gains and losses are recognized in other income (expense), net.
Net Income Per Share	Net Income Per Share Basic net income per share is computed by dividing net income by the weighted-average number of shares outstanding during the period. Diluted net income per share is computed by dividing net income by the weighted-average number of shares outstanding plus potentially dilutive shares outstanding during the period. The potentially dilutive shares are computed by applying the treasury stock method to the Company's stock options, RSUs and the stock purchase rights under the ESPP. Any potential shares that would be anti-dilutive are excluded from the computation of diluted net income per share.
Recently Adopted Accounting Pronouncements and Recently Issued Accounting Pronouncements Not Yet Adopted	Recently Adopted Accounting Pronouncements None. Recently Issued Accounting Pronouncements Not Yet Adopted In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-07 requiring enhanced segment disclosures. The ASU requires disclosure of significant segment expenses regularly provided to the chief operating decision maker ("CODM") included within segment operating profit or loss. Additionally, the ASU requires a description of how the CODM utilizes segment operating profit or loss to assess segment performance. The requirements of the ASU are effective for annual periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The Company's annual reporting requirements will be effective for fiscal 2024 and interim reporting requirements will be effective beginning with the first quarter of fiscal 2025. Early adoption is permitted and retrospective application is required for all periods presented. The Company is in the process of analyzing the impact of the ASU on related disclosures. In December 2023, the FASB issued ASU 2023-09 requiring enhanced income tax disclosures. The ASU requires disclosure of specific categories and disaggregation of information in the rate reconciliation table. The ASU also requires disclosure of disaggregated information related to income taxes paid, income or loss from continuing operations before income tax expense or benefit, and income tax expense or benefit from continuing operations. The requirements of the ASU are effective for annual periods beginning after December 15, 2024. Early adoption is permitted and the amendments should be applied on a prospective basis. Retrospective application is permitted. The Company is in the process of analyzing the impact of the ASU on related disclosures. The Company does not believe any other new accounting pronouncements issued by the FASB that have not become effective will have a material impact on its consolidated financial statements.

Leases - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
Leases - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating lease expense	$ 16.1	$ 14.9	$ 16.8

The Company and Summary of Significant Accounting Policies - Narrative (Details)	12 Months Ended
	Dec. 31, 2023 USD ($) reportingUnit	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 2,700,000	$ 2,700,000
Accounts receivable	146,200,000	121,800,000	$ 109,000,000
Investments					$ 2,500,000
Dividends from investment	0	0	0
Advanced payments				$ 600,000
Impairment of long-lived assets	$ 0	0	0
Number of reporting units \| reportingUnit	1
Capitalized commission cost	5 years
Advertising expense	$ 3,000,000	3,300,000	$ 2,100,000
Software Developed for Internal Use
Restricted Cash and Cash Equivalents Items [Line Items]
Estimated useful life	3 years
Scanner appliances and other computer equipment
Restricted Cash and Cash Equivalents Items [Line Items]
Estimated useful lives	3 years
Minimum
Restricted Cash and Cash Equivalents Items [Line Items]
Estimated useful lives	3 years
Maximum
Restricted Cash and Cash Equivalents Items [Line Items]
Estimated useful lives	5 years
Derivative financial instrument term	13 months
Cash Held in Escrow With Blue Hexagon Acquisition
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 1,500,000	1,500,000
Security Deposits \| Letter of Credit
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 1,200,000	$ 1,200,000

Fair Value of Financial Instruments - Amounts Recognized In Statement of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Net (losses) gains from non-designated forward contracts	$ (198)	$ 5,093	$ 2,452
Other foreign currency transactions losses	(499)	(6,864)	(2,749)
Total foreign exchange losses, net	$ (697)	$ (1,771)	$ (297)

Fair Value of Financial Instruments - Fair Value Hierarchy (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair Value [Line Items]
Foreign currency forward contracts	$ 1,986	$ 4,679
Fair Value, Recurring
Fair Value [Line Items]
Money market funds	87	82,701
Commercial paper	54,279
U.S. Treasury and government agencies	208,536	156,662
Foreign government		1,006
Corporate bonds	56,465	63,910
Asset-backed securities	13,881	15,027
Foreign currency forward contracts	111	1,493
Total assets	333,359	320,799
Foreign currency forward contracts	1,986	4,679
Total liabilities	1,986	4,679
Level 1 \| Fair Value, Recurring
Fair Value [Line Items]
Money market funds	87	82,701
Commercial paper	0
U.S. Treasury and government agencies	0	0
Foreign government		0
Corporate bonds	0	0
Asset-backed securities	0	0
Foreign currency forward contracts	0	0
Total assets	87	82,701
Foreign currency forward contracts	0	0
Total liabilities	0	0
Level 2 \| Fair Value, Recurring
Fair Value [Line Items]
Money market funds	0	0
Commercial paper	54,279
U.S. Treasury and government agencies	208,536	156,662
Foreign government		1,006
Corporate bonds	56,465	63,910
Asset-backed securities	13,881	15,027
Foreign currency forward contracts	111	1,493
Total assets	333,272	238,098
Foreign currency forward contracts	1,986	4,679
Total liabilities	$ 1,986	$ 4,679

Stockholders' Equity and Stock-based Compensation - Share Repurchase Program (Details) - USD ($) shares in Millions, $ in Millions		12 Months Ended
	Feb. 07, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Feb. 09, 2023	May 04, 2022	Nov. 03, 2021	Feb. 10, 2021	May 07, 2020	Oct. 30, 2019	Oct. 30, 2018	Feb. 12, 2018
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock repurchase program, authorized amount		$ 1,000.0			$ 100.0	$ 200.0	$ 200.0	$ 100.0	$ 100.0	$ 100.0	$ 100.0	$ 100.0
Stock repurchased and retired in period (in shares)		1.3	2.5	1.1
Stock repurchased and retired in period		$ 170.8	$ 317.3	$ 130.0
Stock repurchase program, remaining authorized repurchase amount		$ 83.7
Subsequent Event
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Additional authorized amount	$ 200.0
Stock repurchase program, authorized amount	$ 1,200.0

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Segment and Geographic Area Information - Revenue and Property and Equipment, Net by Geographic Area (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Total revenues	$ 554,458	$ 489,723	$ 411,172
Total Long-lived Assets	54,990	81,180
United States
Segment Reporting Information [Line Items]
Total revenues	332,315	292,291	252,428
Total Long-lived Assets	42,622	58,775
Foreign
Segment Reporting Information [Line Items]
Total revenues	222,143	197,432	$ 158,744
India
Segment Reporting Information [Line Items]
Total Long-lived Assets	9,952	16,057
Rest of world
Segment Reporting Information [Line Items]
Total Long-lived Assets	$ 2,416	$ 6,348

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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

Stockholders' Equity and Stock-based Compensation - Summary of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation expense, net of amounts capitalized	$ 69,079	$ 53,408	$ 67,579
Cost of revenues
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation expense, net of amounts capitalized	7,300	5,305	3,782
Research and development
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation expense, net of amounts capitalized	21,091	14,585	10,750
Sales and marketing
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation expense, net of amounts capitalized	12,234	9,837	6,323
General and administrative
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation expense, net of amounts capitalized	$ 28,454	$ 23,681	$ 46,724

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

12 Months Ended

Dec. 31, 2023

Property and Equipment, Net

Property and equipment, net, which includes assets under finance leases, consists of the following:


	December 31,
	2023		2022

	(in thousands)
Computer equipment	$	179,002	$	173,832
Computer software	26,133		25,808
Leasehold improvements	20,924		21,009
Scanner appliances	18,369		15,696
Furniture, fixtures and equipment	6,699		6,524
Total property and equipment	251,127		242,869
Less: accumulated depreciation and amortization	(218,528)		(195,441)
Property and equipment, net	$	32,599	$	47,428

As of December 31, 2023 and 2022, physical scanner appliances and other computer equipment that are or will be subject to leases by customers had a net carrying value of $10.1 million and $6.7 million, respectively, including assets that had not been placed in service of $6.4 million and $4.0 million, respectively.

Depreciation and amortization expenses relating to property and equipment were $23.9 million, $28.2 million and $28.5 million for the years ended December 31, 2023, 2022 and 2021, respectively, which were mainly recorded in cost of revenues in the consolidated statements of operations.

Income Taxes

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Income Taxes

The Company’s geographical breakdown of income before income taxes is as follows:


	Year Ended December 31,
	2023		2022		2021

	(in thousands)
Domestic	$	164,958	$	122,013	$	80,472
Foreign	13,693		11,687		8,925
Income before income taxes	$	178,651	$	133,700	$	89,397

Income tax provision consists of the following:


	Year Ended December 31,
	2023		2022		2021

	(in thousands)
Current
Federal	$	32,405	$	35,286	$	20,135
State	6,061		6,269		4,324
Foreign	5,218		4,606		3,701
Current income tax provision	43,684		46,161		28,160
Deferred
Federal	(13,584)		(17,097)		(7,342)
State	(2,009)		(3,055)		(1,722)
Foreign	(1,035)		(301)		(659)
Deferred income tax benefit	(16,628)		(20,453)		(9,723)
Income tax provision	$	27,056	$	25,708	$	18,437

The reconciliation of the statutory federal income tax rate to the Company’s effective tax rate is as follows:


	Year Ended December 31,
	2023		2022		2021
Federal statutory rate	21.0	%	21.0	%	21.0	%
State taxes	2.6		2.3		3.1
Stock-based compensation	2.7		3.4		10.3
Excess tax benefits related to stock-based compensation	(2.9)		(5.2)		(5.4)
Foreign source income	0.3		3.8		0.4
Change in valuation allowance	0.1		0.3		0.2
Foreign-derived intangible income deduction	(4.4)		(4.9)		(7.0)
Federal and state research and development credit	(1.4)		(1.3)		(1.9)
Accrual to return adjustments and Other	(2.9)		(0.2)		(0.1)
Income tax provision	15.1	%	19.2	%	20.6	%

Deferred Income Taxes

Deferred income taxes reflect the tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The components of the Company’s deferred tax assets and liabilities are as follows:


	December 31,
	2023		2022

	(in thousands)
Deferred tax assets
Research and development credit carryforwards	$	11,502	$	10,957
Fixed assets	581		—
Accrued liabilities	3,020		3,677
Deferred revenues	3,381		5,766
Operating lease liabilities	7,722		10,667
Intangible assets	3,549		3,465
Stock-based compensation	4,263		4,691
Capitalized research and development	47,793		30,234
Other	2,999		2,195
Gross deferred tax assets	84,810		71,652
Valuation allowance	(12,375)		(12,476)
Total deferred tax assets	72,435		59,176
Deferred tax liabilities
Fixed assets	—		(1,745)
Operating leases - right of use asset	(5,999)		(8,359)
Deferred commissions	(3,675)		(3,660)
Total deferred tax liabilities	(9,674)		(13,764)
Net deferred tax assets	$	62,761	$	45,412

The realization of deferred tax assets is dependent upon the generation of sufficient taxable income of the appropriate character in future periods. The Company regularly assesses the ability to realize its deferred tax assets and establishes a valuation allowance if it is more-likely than-not that some portion, or all, of the deferred tax assets will not be realized. The Company weighs all available positive and negative evidence, including its earnings history and results of recent operations, scheduled reversals of deferred tax liabilities, projected future taxable income, and tax planning strategies. Due to the weight of objectively verifiable negative evidence, it is more-likely-than-not that its California deferred tax assets will not be realized as of December 31, 2023. Additionally, due to a lack of sufficient future income of the appropriate character, certain U.S. federal and state deferred tax assets are not more-likely-than-not to be realized. Accordingly, the Company has recorded a valuation allowance of $12.4 million and $12.5 million against such deferred tax assets as of December 31, 2023 and 2022, respectively. The decrease in valuation allowance was mainly associated with the California research and development credit generated during the year ended December 31, 2023 offset by a decrease in unrealized loss on available for sale securities that will not likely be realized in the foreseeable future.

As of December 31, 2023 and 2022, the Company had $17.0 million and $16.2 million, respectively, of California research and development credit carryforwards. California research and development credits are carried forward indefinitely. As of December 31, 2023 and 2022, the Company had foreign tax credit carryforwards of $1.0 million and $0.9 million, respectively, which begin to expire in 2028.

The following table summarizes the activity related to the Company’s unrecognized tax benefits:


	Year Ended December 31,
	2023		2022		2021

	(in thousands)
Unrecognized tax benefits beginning balance	$	10,542	$	9,676	$	8,855
Gross increase for tax positions of prior years	262		89		—
Gross decrease for tax positions of prior years	—		—		(25)
Gross increase for tax positions of current year	1,127		777		846
Lapse of statute of limitations	(33)		—		—
Total unrecognized tax benefits	$	11,898	$	10,542	$	9,676

The unrecognized tax benefits, if recognized, would impact the income tax provision by $6.1 million, $5.3 million and $4.9 million as of December 31, 2023, 2022 and 2021, respectively. The remaining amount would result in the recognition of a corresponding deferred tax asset that is then offset by a full valuation allowance. As of December 31, 2023, the Company does not believe that its estimates, as otherwise provided for, on such tax positions will significantly increase or decrease within the next twelve months. The Company has elected to include interest and penalties as a component of income tax expense. The amounts were not material for the years ended December 31, 2023, 2022 and 2021.

The Company files income tax returns in the United States, including various state jurisdictions. The Company’s subsidiaries file tax returns in India and various other foreign jurisdictions. The tax years 2001 through 2023 remain open to examination by the major taxing jurisdictions in which the Company is subject to tax. The Company is also currently subject to tax audits in various jurisdictions. The Company believes that an adequate provision has been made for any adjustments that may result from tax examinations. However, the outcome of tax audits cannot be predicted with certainty. If any issues addressed in the Company's tax audits are resolved in a manner inconsistent with its expectations, the Company could be required to adjust its income tax provision in the period such resolution occurs.

As of December 31, 2023, the Company has undistributed earnings in certain foreign subsidiaries that the Company has indefinitely reinvested outside the United States. Due to U.S. tax rules related to taxation of foreign earnings, the unrecorded deferred tax liability is immaterial. The Company may be required to pay additional foreign withholding taxes if the Company repatriates those earnings in the future.

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.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

Net Income Per Share

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Net Income Per Share

The computations for basic and diluted net income per share are as follows:


	Year Ended December 31,
	2023		2022		2021

	(in thousands, except per share data)
Numerator:
Net income	$	151,595	$	107,992	$	70,960
Denominator:
Basic weighted average shares	36,879		38,453		39,030
Effect of potentially dilutive shares:
Stock options	482		672		863
Restricted stock units	237		216		224
Employee stock purchase plan	4		3		1
Diluted weighted average shares	37,602		39,344		40,118
Net income per share:
Basic	$	4.11	$	2.81	$	1.82
Diluted	$	4.03	$	2.74	$	1.77

Potentially dilutive shares not included in the calculation of diluted net income per share because doing so would be anti-dilutive are as follows:


	Year Ended December 31,
	2023	2022	2021

	(in thousands)
Stock options	763	686	534
Restricted stock units	140	90	61
Employee stock purchase plan	7	5	—
Total anti-dilutive shares	910	781	595

Stockholders' Equity and Stock-based Compensation - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Offering period, months	6 months
Share-Based Payment Arrangement, Exercise of Option, Tax Benefit	$ 5,900	$ 7,000	$ 4,900
Restricted stock units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Aggregate fair value vested	$ 55,700	$ 43,900	$ 59,500

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Fair Value of Financial Instruments

Income Taxes - Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current
Federal	$ 32,405	$ 35,286	$ 20,135
State	6,061	6,269	4,324
Foreign	5,218	4,606	3,701
Current income tax provision	43,684	46,161	28,160
Deferred
Federal	(13,584)	(17,097)	(7,342)
State	(2,009)	(3,055)	(1,722)
Foreign	(1,035)	(301)	(659)
Deferred income tax benefit	(16,628)	(20,453)	(9,723)
Income tax provision	$ 27,056	$ 25,708	$ 18,437

Fair Value of Financial Instruments - Narrative (Details) € in Millions, ₨ in Millions, £ in Millions, $ in Millions, $ in Millions	Dec. 31, 2023 USD ($)	Dec. 31, 2023 EUR (€)	Dec. 31, 2023 GBP (£)	Dec. 31, 2023 INR (₨)	Dec. 31, 2023 CAD ($)	Dec. 31, 2022 EUR (€)	Dec. 31, 2022 GBP (£)	Dec. 31, 2022 INR (₨)	Dec. 31, 2022 CAD ($)
Foreign Exchange Contract \| Designated as Hedging Instrument \| Cash Flow Hedging
Fair Value [Line Items]
Derivative, notional amount		€ 48.5	£ 14.6	₨ 4,042.0		€ 37.4	£ 10.4	₨ 3,411.0
Foreign Exchange Contract \| Not Designated as Hedging Instrument
Fair Value [Line Items]
Derivative, notional amount		€ 19.2	£ 6.0	₨ 440.0	$ 1.0	€ 40.2	£ 16.2	₨ 484.0	$ 3.8
Foreign Exchange Contracts for GBP and Euro \| Designated as Hedging Instrument \| Cash Flow Hedging
Fair Value [Line Items]
Unrealized gains (losses) before tax	$ 1.5

Fair Value of Financial Instruments

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. For certain of the Company’s financial instruments, including certain cash equivalents, accounts receivable, accounts payable and accrued liabilities, the carrying amounts approximate their fair values due to the relatively short maturity of these balances.

The Company measures and reports certain cash equivalents, marketable securities, derivative foreign currency forward contracts at fair value in accordance with the provisions of the authoritative accounting guidance that addresses fair value measurements. This guidance establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. The hierarchy is broken down into three levels based on the reliability of inputs as follows:

Level 1 - Valuations based on quoted prices in active markets for identical assets or liabilities.

Level 2 - Valuations based on other than quoted prices in active markets for identical assets and liabilities, including quoted prices for identical assets or liabilities in less active or inactive markets, quoted prices for similar assets or liabilities in active markets, or inputs other than quoted prices that are observable for substantially the full term of the assets or liabilities.

Level 3 - Valuations based on inputs that are generally unobservable and typically reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability.

The Company's financial instruments consist of assets and liabilities measured using Level 1 and 2 inputs. Level 1 assets include a highly liquid money market fund, which is valued using unadjusted quoted prices that are available in an active market for an identical asset. Level 2 assets include fixed-income U.S. Treasury and government agency securities, commercial paper, corporate bonds, asset-backed securities, foreign government securities and derivative financial instruments consisting of foreign currency forward contracts. The securities, bonds and commercial paper are valued using prices from independent pricing services based on quoted prices of identical instruments in less active or inactive markets, quoted prices of similar instruments in active markets, or industry models using data inputs such as interest rates and prices that can be directly observed or corroborated in active markets. The foreign currency forward contracts are valued using observable inputs, such as quotations on forward foreign exchange points and foreign interest rates.

The following table sets forth by level within the fair value hierarchy the fair value of the Company's financial assets and liabilities measured at fair value on a recurring basis:


	December 31, 2023
	Level 1		Level 2		Fair Value

	(in thousands)
Money market funds	$	87	$	—	$	87
Commercial paper	—		54,279		54,279
U.S. Treasury and government agencies	—		208,536		208,536

Corporate bonds	—		56,465		56,465
Asset-backed securities	—		13,881		13,881
Foreign currency forward contracts	—		111		111
Total assets	$	87	$	333,272	$	333,359
Foreign currency forward contracts	$	—	$	1,986	$	1,986
Total liabilities	$	—	$	1,986	$	1,986


	December 31, 2022
	Level 1		Level 2		Fair Value

	(in thousands)
Money market funds	$	82,701	$	—	$	82,701

U.S. Treasury and government agencies	—		156,662		156,662
Foreign government	—		1,006		1,006
Corporate bonds	—		63,910		63,910
Asset-backed securities	—		15,027		15,027
Foreign currency forward contracts	—		1,493		1,493
Total assets	$	82,701	$	238,098	$	320,799
Foreign currency forward contracts	$	—	$	4,679	$	4,679
Total liabilities	$	—	$	4,679	$	4,679

There were no transfers between Level 1, Level 2 and Level 3 categories during the years ended December 31, 2023 and 2022.

Cash equivalent and investments

The Company's cash equivalents and marketable securities consist of the following:


	December 31, 2023
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value

	(in thousands)
Cash equivalents: (1)
Money market funds	$	87	$	—	$	—	$	87

U.S. Treasury and government agencies	54,620		4		—		54,624
Total	54,707		4		—		54,711
Short-term marketable securities:
Commercial paper	54,254		32		(7)		54,279
Corporate bonds	23,013		1		(149)		22,865

U.S. Treasury and government agencies	144,901		52		(204)		144,749

Total	222,168		85		(360)		221,893
Long-term marketable securities:
Corporate bonds	33,337		285		(22)		33,600
Asset-backed securities	13,785		102		(6)		13,881
U.S. Treasury and government agencies	9,116		49		(2)		9,163
Total	56,238		436		(30)		56,644
Total	$	333,113	$	525	$	(390)	$	333,248

(1)Excludes cash of $149.0 million.


	December 31, 2022
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value

	(in thousands)
Cash equivalents: (1)
Money market funds	$	82,701	$	—	$	—	$	82,701
U.S. Treasury and government agencies	29,787		4		—		29,791
Total	112,488		4		—		112,492
Short-term marketable securities:

Corporate bonds	36,908		3		(337)		36,574
Asset-backed securities	726		—		(2)		724
U.S. Treasury and government agencies	110,225		—		(921)		109,304
Foreign government	1,008		—		(2)		1,006
Total	148,867		3		(1,262)		147,608
Long-term marketable securities:
Corporate bonds	28,146		—		(810)		27,336
Asset-backed securities	14,435		—		(132)		14,303
U.S. Treasury and government agencies	18,076		—		(509)		17,567

Total	60,657		—		(1,451)		59,206
Total	$	322,012	$	7	$	(2,713)	$	319,306

(1)Excludes cash of $61.2 million.

The following table summarizes the gross unrealized losses and fair value of the Company's marketable securities that were in an unrealized loss position aggregated by length of time:


	December 31, 2023
	Less than 12 months				12 months or longer				Total
	Fair value		Gross unrealized losses		Fair value		Gross unrealized losses		Fair value		Gross unrealized losses
	(in thousands)
Commercial paper	$	24,838	$	(7)	$	—	$	—	$	24,838	$	(7)

Asset-backed securities	—		—		1,485		(6)		1,485		(6)
Corporate bonds	—		—		20,717		(171)		20,717		(171)
U.S. Treasury and government agencies	43,373		(18)		18,172		(188)		61,545		(206)
Total	$	68,211	$	(25)	$	40,374	$	(365)	$	108,585	$	(390)


	December 31, 2022
	Less than 12 months				12 months or longer				Total
	Fair value		Gross unrealized losses		Fair value		Gross unrealized losses		Fair value		Gross unrealized losses
	(in thousands)
Foreign government agencies	$	998	$	(2)	$	—	$	—	$	998	$	(2)
Asset-backed securities	13,365		(124)		1,652		(10)		15,017		(134)
Corporate bonds	33,800		(389)		26,326		(758)		60,126		(1,147)
U.S. Treasury and government agencies	89,802		(1,175)		36,833		(255)		126,635		(1,430)
Total	$	137,965	$	(1,690)	$	64,811	$	(1,023)	$	202,776	$	(2,713)

The Company considered the extent to which any unrealized losses on its marketable securities were driven by credit risk and other factors, including market risk, and if it is more-likely-than-not that the Company would have to sell the security before the recovery of the amortized cost basis. At December 31, 2023 and 2022, the unrealized losses related to its marketable securities were due to rising market interest rates compared to when the investments were initiated. The Company does not believe the unrealized losses represent credit risk, and the Company does not intend to sell any of the securities in an unrealized loss position and it is not likely that the Company would be required to sell these securities before recovery of their amortized cost basis, which may be at maturity. Thus, no credit loss was recognized for the Company's marketable securities for the years ended December 31, 2023 and 2022.

The following summarizes the fair value of marketable securities by contractual maturity:


	December 31, 2023
	Amortized Cost		Fair Value

	(in thousands)
Due within One Year	$	276,875	$	276,604
Due after One Year through Two Years	27,814		27,982
Mature over Two Years	14,639		14,781
Asset-backed securities	13,785		13,881
Total	$	333,113	$	333,248

Derivative Financial Instruments

Designated cash flow hedges

The Company enters into foreign currency forward contracts to reduce the risk of variability in future cash flow due to foreign currency exchange rate fluctuation from certain forecasted subscription revenue orders billed in GBP and EUR and operation expenses incurred in INR, which are designated as cash flow hedges. Hedge effectiveness is assessed at inception and at each reporting period utilizing regression analysis. Unrealized foreign exchange gains or losses related to those designated cash flow hedge contracts are recorded in accumulated other comprehensive income ("AOCI") and will be reclassified into revenues or operating expenses, respectively, in the same periods when the hedged transactions are recognized in earnings.

As of December 31, 2023, the Company had designated cash flow hedge forward contracts with notional amounts of €48.5 million, £14.6 million and Rs.4,042.0 million. As of December 31, 2022, the Company had designated cash flow hedge forward contracts with notional amounts of €37.4 million, £10.4 million and Rs.3,411.0 million.

As of December 31, 2023, a net amount of unrealized loss of $1.5 million before tax on the foreign currency forward contracts for GBP and EUR reported in AOCI is expected to be reclassified into revenue within the next 12 months. As of December 31, 2023, an immaterial amount of unrealized loss before tax on the foreign currency forward contracts for INR reported in AOCI is expected to be reclassified into operating expenses within the next 12 months.

Non-designated forward contracts

The Company also uses foreign currency forward contracts to hedge certain foreign currency denominated assets or liabilities, which are not designated as cash flow hedges. Unrealized foreign exchange gain or losses related to the non-designated forward contracts are recorded in other income (expenses), net and offset the foreign exchange gain or loss on the underlying net monetary assets or liabilities.

As of December 31, 2023, the Company had non-designated forward contracts with notional amounts of €19.2 million, £6.0 million, Rs.440.0 million, and C$1.0 million. As of December 31, 2022, the Company had non-designated forward contracts with notional amounts of €40.2 million, £16.2 million, Rs.484.0 million, and C$3.8 million.

The following summarizes the fair value of derivative financial instruments as of December 31, 2023 and 2022:


	December 31,
	2023		2022

	(in thousands)
Assets
Foreign currency forward contracts designated as cash flow hedge	$	63	$	1,041
Foreign currency forward contracts not designated as hedging instruments	48		452
Total	$	111	$	1,493
Liabilities
Foreign currency forward contracts designated as cash flow hedge	$	1,502	$	2,634
Foreign currency forward contracts not designated as hedging instruments	484		2,045
Total	$	1,986	$	4,679

The Company presents its derivative assets and derivative liabilities at gross fair values in the consolidated balance sheets. However, under the master netting agreements with the respective counterparties of the foreign exchange contracts, subject to applicable requirements, the Company is allowed to net settle transactions of the same currency with a single net amount payable by one party to the other. The potential offset to both assets and liabilities under the right of set-off associated with the Company's foreign currency exchange contracts are immaterial as of December 31, 2023 and 2022. The derivatives held by the Company are not subject to any credit contingent features negotiated with its counterparties. The Company is not required to pledge nor is entitled to receive cash collateral related to the above contracts. The counterparties to these derivatives are large, global financial institutions that the Company believes are creditworthy, and therefore, it does not consider the risk of counterparty nonperformance to be material.

The following summarizes the gains (losses) recognized from forward contracts and other foreign currency transactions in other income (expense), net in the consolidated statements of operations:


	Year Ended December 31,
	2023		2022		2021

	(in thousands)
Net (losses) gains from non-designated forward contracts	$	(198)	$	5,093	$	2,452
Other foreign currency transactions losses	(499)		(6,864)		(2,749)
Total foreign exchange losses, net	$	(697)	$	(1,771)	$	(297)

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

Revenue from Contracts With Customers - Revenue by Sales Channel (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue from External Customer [Line Items]
Revenues	$ 554,458	$ 489,723	$ 411,172
Direct
Revenue from External Customer [Line Items]
Revenues	314,988	285,382	243,389
Partner
Revenue from External Customer [Line Items]
Revenues	$ 239,470	$ 204,341	$ 167,783

Stockholders' Equity and Stock-based Compensation (Tables)

12 Months Ended

Dec. 31, 2023