Segment and geographic information

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Segment and geographic information

13. Segment and geographic information

The Company’s Chief Executive Officer is its CODM. The CODM reviews separate financial information presented for the Company’s two segments, Enterprise and Consumer, in order to allocate resources and evaluate the Company’s financial performance.

Financial information for each reportable segment was as follows (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Revenue
Enterprise	$	109,101	$	83,865	$	305,962	$	223,403
Consumer	75,621		74,567		233,430		240,364
Total revenue	184,722		158,432		539,392		463,767
Segment cost of revenue
Enterprise	34,784		27,448		101,603		74,293
Consumer	35,371		35,901		107,999		111,909
Total segment cost of revenue	70,155		63,349		209,602		186,202
Segment gross profit
Enterprise	74,317		56,417		204,359		149,110
Consumer	40,250		38,666		125,431		128,455
Total segment gross profit	114,567		95,083		329,790		277,565
Reconciliation of segment gross profit to gross profit
Amortization of capitalized software	4,494		3,261		12,667		9,000
Amortization of intangible assets	725		725		2,175		2,175
Depreciation	102		134		329		513
Stock-based compensation	1,788		1,611		5,130		3,440
Total reconciling items	7,109		5,731		20,301		15,128
Total gross profit	$	107,458	$	89,352	$	309,489	$	262,437

Geographic information

Revenue: The following table summarizes the revenue by region based on the billing address of the Company’s customers (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
North America	$	73,787	$	65,809	$	217,308	$	189,284
Europe, Middle East, Africa	55,048		45,788		164,139		139,729
Asia Pacific	42,505		35,210		120,006		101,125
Latin America	13,382		11,625		37,939		33,629
Total revenue	$	184,722	$	158,432	$	539,392	$	463,767

During the three months ended September 30, 2023, revenue from the United States and Japan each exceeded 10% of the Company’s total revenue. During the three months ended September 30, 2022, and nine months ended September 30, 2023 and 2022, the United States was the only country to exceed 10% of the Company’s total revenue.

Long-lived assets: The following table presents the Company’s long-lived assets, which consist of tangible property and equipment, net of depreciation, and operating lease ROU assets, by geographic region (in thousands):

	September 30,		December 31,
	2023		2022
North America	$	8,467	$	12,782
Rest of world	3,658		5,556
Total long-lived assets	$	12,125	$	18,338