Segment and geographic information

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Segment and geographic information

12. 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 June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Revenue
Enterprise	$	120,556	$	101,619	$	238,196	$	196,861
Consumer	73,804		76,621		153,010		157,809
Total revenue	194,360		178,240		391,206		354,670
Segment cost of revenue
Enterprise	33,316		33,952		66,314		66,819
Consumer	32,299		35,132		68,297		72,628
Total segment cost of revenue	65,615		69,084		134,611		139,447
Segment gross profit
Enterprise	87,240		67,667		171,882		130,042
Consumer	41,505		41,489		84,713		85,181
Total segment gross profit	128,745		109,156		256,595		215,223
Reconciliation of segment gross profit to gross profit
Amortization of capitalized software	4,978		4,270		9,769		8,173
Amortization of intangible assets	725		725		1,450		1,450
Depreciation	113		111		226		228
Stock-based compensation	1,813		1,748		3,470		3,342
Total reconciling items	7,629		6,854		14,915		13,192
Total gross profit	$	121,116	$	102,302	$	241,680	$	202,031

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 June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
North America	$	77,271	$	71,814	$	154,492	$	143,521
Europe, Middle East, Africa	58,912		54,540		120,269		109,091
Asia Pacific	44,334		39,342		89,212		77,501
Latin America	13,843		12,544		27,233		24,557
Total revenue	$	194,360	$	178,240	$	391,206	$	354,670

During the three and six months ended June 30, 2024, revenue from the United States and Japan each exceeded 10% of the Company’s total revenue. During the three and six months ended June 30, 2023, 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):

	June 30,		December 31,
	2024		2023
United States	$	10,555	$	7,007
Rest of world	6,031		3,109
Total long-lived assets	$	16,586	$	10,116