Pay vs Performance Disclosure - USD ($)

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Pay vs Performance Disclosure

Pay vs Performance Disclosure, Table

Pay Versus Performance

The following table sets forth the compensation for Dave Girouard, our CEO and principal executive officer (“PEO”), and the average compensation for our non-PEO Named Executive Officers (“non-PEO NEOs”) for 2023, 2022, 2021 and 2020 (each a “Covered Year”), both as reported in the Summary Compensation Table and with certain adjustments to reflect the “compensation actually paid” to such individuals, as calculated in accordance with rules adopted by the SEC. “Compensation actually paid” does not reflect amounts actually realized by our PEO and Non-PEO NEOs and may be higher or lower than amounts, if any, that are actually realized by such individuals. The table below also provides information for each Covered Year regarding our cumulative total shareholder return, the cumulative return of our peer group, our net income, and our revenue. Additional information regarding our compensation philosophy, the structure of our performance-based compensation programs, and compensation decisions made this year is described above in the section titled “Compensation Discussion and Analysis.”

Year	Summary Compensation Table Total for PEO ($)		Compensation Actually Paid to PEO ($)(1)(2)		Average Summary Compensation Table Total for Non-PEO NEOs ($)(3)(4)		Average Compensation Actually Paid to Non-PEO NEOs ($)(2)(4)		Value of Initial Fixed $100 Investment Based on:				Net Income ($)(7)		Revenue from Fees ($)(8)
									Total Shareholder Return ($)(5)		Peer Group Total Shareholder Return ($)(6)
2023		7,115,630		26,075,312		4,051,313		17,583,239		138.65		161.22		-240,132,000		560,431,000
2022		9,609,205		-36,246,416		17,850,370		-13,737,932		44.86		102.14		-108,665,000		907,272,000
2021		14,955,933		70,383,703		5,973,651		44,035,528		513.40		142.25		135,443,000		801,275,000
2020		8,763,722		15,940,686		1,844,759		14,340,553		138.28		105.74		5,983,000		228,600,000

(1) Compensation actually paid does not mean that our PEO was actually paid those amounts in the listed year, but this is a dollar amount derived from the starting point of summary compensation table total compensation under the methodology prescribed under the SEC’s rules, as shown in the adjustment table below.

Adjustments to Determine PEO Compensation Actually Paid	2023		2022		2021		2020
Summary Compensation Table Total for PEO ($)		7,115,630		9,609,205		14,955,933		8,763,722
Minus Grant Date Fair Value of Equity Awards in Summary Compensation Table ($)		6,448,630		9,149,205		14,500,933		8,030,055
Plus Year End Fair Value of Equity Awards Granted During Year That are Outstanding and Unvested at Fiscal Year End ($)		19,629,347		504,006		16,209,314		14,563,308
Plus Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards ($)		1,945,989		-17,983,049		27,295,026		0
Plus Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year ($)		3,486,043		0		0		600,046
Plus Change in Fair Value between the End of the Prior Year and the Vesting Date of Equity Awards Granted in Prior Years that Vested in the Year ($)		346,933		-19,227,374		26,424,363		43,665
Minus Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year ($)		0		0		0		0
Compensation Actually Paid to PEO ($)		26,075,312		-36,246,416		70,383,703		15,940,686

(2) For purposes of the adjustments to determine “compensation actually paid”, we computed the fair value of stock option awards and restricted stock units in accordance with FASB ASC Topic 718 as of the end of the relevant fiscal year, other than fair values of equity awards that vested in the Covered Year, which are valued as of the applicable vesting date. The valuation assumptions used in the calculation of such amounts are set forth in the notes to our consolidated financial statements included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023 as filed with the SEC on February 15, 2024. The dollar value of Mr. Gu’s Performance Award in 2022 represents the grant date fair value calculated on the basis of a Monte Carlo simulation pursuant to assumptions set forth in the notes to our consolidated financial statements included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022 as filed with the SEC on February 16, 2023.

(3) This figure is the average of the summary compensation table total compensation for the non-PEO NEOs in each listed year. The names of the non-PEO NEOs for each Covered Year are: for 2023, Sanjay Datta, Paul Gu and Scott Darling; for 2022, Sanjay Datta, Paul Gu, Scott Darling and Anna Counselman; for 2021, Sanjay Datta, Paul Gu, Anna Counselman and Alison Nicoll; and for 2020, Sanjay Datta and Paul Gu.

(4) This figure is the average of compensation actually paid for the non-PEO NEOs in each Covered Year. Compensation actually paid does not mean that these NEOs were actually paid those amounts in the listed

year, but this is a dollar amount derived from the starting point of summary compensation table total compensation under the methodology prescribed under the SEC’s rules, as shown in the adjustment table below.

Adjustments to Determine Average Non-PEO NEO Compensation Actually Paid	2023		2022		2021		2020
Average Summary Compensation Table Total for Non-PEO NEOs ($)		4,051,313		17,850,370		5,973,651		1,844,759
Minus Non-PEO NEO Average Grant Date Fair Value of Equity Awards in Summary Compensation Table ($)		3,401,172		17,579,916		5,127,734		1,115,300
Plus Non-PEO NEO Average Year End Fair Value of Equity Awards Granted During Year That are Outstanding and Unvested at Fiscal Year End ($)		8,877,708		3,077,834		5,730,938		6,787,258
Plus Non-PEO NEO Average Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards ($)		6,695,249		-6,045,655		19,263,996		6,442,870
Plus Non-PEO NEO Average Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year ($)		917,367		0		0		0
Plus Non-PEO NEO Average Change in Fair Value between the End of the Prior Year and the Vesting Date of Equity Awards Granted in Prior Years that Vested in the Year ($)		570,939		-11,040,565		18,194,677		380,966
Minus Non-PEO NEO Average Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year ($)		128,165		0		0		0
Average Compensation Actually Paid to Non-PEO NEOs ($)		17,583,239		-13,737,932		44,035,528		14,340,553

(5) Total shareholder return is calculated by assuming that a $100 investment was made at the close of trading on the first full day of trading of our stock (December 16, 2020) and reinvesting all dividends until the last day of each reported fiscal year.

(6) The peer group used is the S&P Information Technology index, as used in the Company’s performance graph in our annual report. Total shareholder return is calculated by assuming that a $100 investment was made at the close of trading on the first full day of trading of our stock (December 16, 2020) and reinvesting all dividends until the last day of each reported fiscal year.

(7) The dollar amounts reported are the Company’s net income reflected in the Company’s audited financial statements.

(8) In the Company’s assessment, revenue from fees is the most important financial performance measure (other than stock price) used by the Company in 2023 to link compensation actually paid to performance. The dollar amounts reported are the Company’s revenue from fees reflected in the Company’s audited financial statements.

Company Selected Measure Name

revenue

Named Executive Officers, Footnote

The names of the non-PEO NEOs for each Covered Year are: for 2023, Sanjay Datta, Paul Gu and Scott Darling; for 2022, Sanjay Datta, Paul Gu, Scott Darling and Anna Counselman; for 2021, Sanjay Datta, Paul Gu, Anna Counselman and Alison Nicoll; and for 2020, Sanjay Datta and Paul Gu.

Peer Group Issuers, Footnote

The peer group used is the S&P Information Technology index, as used in the Company’s performance graph in our annual report. Total shareholder return is calculated by assuming that a $100 investment was made at the close of trading on the first full day of trading of our stock (December 16, 2020) and reinvesting all dividends until the last day of each reported fiscal year.

PEO Total Compensation Amount

$ 7,115,630

$ 9,609,205

$ 14,955,933

$ 8,763,722

PEO Actually Paid Compensation Amount

$ 26,075,312

(36,246,416)

70,383,703

15,940,686

Adjustment To PEO Compensation, Footnote

(1) Compensation actually paid does not mean that our PEO was actually paid those amounts in the listed year, but this is a dollar amount derived from the starting point of summary compensation table total compensation under the methodology prescribed under the SEC’s rules, as shown in the adjustment table below.

Adjustments to Determine PEO Compensation Actually Paid	2023		2022		2021		2020
Summary Compensation Table Total for PEO ($)		7,115,630		9,609,205		14,955,933		8,763,722
Minus Grant Date Fair Value of Equity Awards in Summary Compensation Table ($)		6,448,630		9,149,205		14,500,933		8,030,055
Plus Year End Fair Value of Equity Awards Granted During Year That are Outstanding and Unvested at Fiscal Year End ($)		19,629,347		504,006		16,209,314		14,563,308
Plus Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards ($)		1,945,989		-17,983,049		27,295,026		0
Plus Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year ($)		3,486,043		0		0		600,046
Plus Change in Fair Value between the End of the Prior Year and the Vesting Date of Equity Awards Granted in Prior Years that Vested in the Year ($)		346,933		-19,227,374		26,424,363		43,665
Minus Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year ($)		0		0		0		0
Compensation Actually Paid to PEO ($)		26,075,312		-36,246,416		70,383,703		15,940,686

 

Non-PEO NEO Average Total Compensation Amount

$ 4,051,313

17,850,370

5,973,651

1,844,759

Non-PEO NEO Average Compensation Actually Paid Amount

$ 17,583,239

(13,737,932)

44,035,528

14,340,553

Adjustment to Non-PEO NEO Compensation Footnote

(4) This figure is the average of compensation actually paid for the non-PEO NEOs in each Covered Year. Compensation actually paid does not mean that these NEOs were actually paid those amounts in the listed

year, but this is a dollar amount derived from the starting point of summary compensation table total compensation under the methodology prescribed under the SEC’s rules, as shown in the adjustment table below.

Adjustments to Determine Average Non-PEO NEO Compensation Actually Paid	2023		2022		2021		2020
Average Summary Compensation Table Total for Non-PEO NEOs ($)		4,051,313		17,850,370		5,973,651		1,844,759
Minus Non-PEO NEO Average Grant Date Fair Value of Equity Awards in Summary Compensation Table ($)		3,401,172		17,579,916		5,127,734		1,115,300
Plus Non-PEO NEO Average Year End Fair Value of Equity Awards Granted During Year That are Outstanding and Unvested at Fiscal Year End ($)		8,877,708		3,077,834		5,730,938		6,787,258
Plus Non-PEO NEO Average Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards ($)		6,695,249		-6,045,655		19,263,996		6,442,870
Plus Non-PEO NEO Average Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year ($)		917,367		0		0		0
Plus Non-PEO NEO Average Change in Fair Value between the End of the Prior Year and the Vesting Date of Equity Awards Granted in Prior Years that Vested in the Year ($)		570,939		-11,040,565		18,194,677		380,966
Minus Non-PEO NEO Average Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year ($)		128,165		0		0		0
Average Compensation Actually Paid to Non-PEO NEOs ($)		17,583,239		-13,737,932		44,035,528		14,340,553

 

Compensation Actually Paid vs. Total Shareholder Return

Compensation Actually Paid vs. Total Shareholder Returns of the Company and Peer Group  

Compensation Actually Paid vs. Net Income

Compensation Actually Paid vs. Net Income

Compensation Actually Paid vs. Company Selected Measure

Compensation Actually Paid vs. Revenue from Fees

Total Shareholder Return Vs Peer Group

Compensation Actually Paid vs. Total Shareholder Returns of the Company and Peer Group  

Tabular List, Table

Tabular List of Most Important Financial Performance Measures

Stock Price
Revenue from fees
Adjusted EBITDA

Stock price, revenue from fees and adjusted EBITDA are the only financial performance measures we used in 2023 to link compensation to company performance.

Total Shareholder Return Amount

$ 138.65

44.86

513.4

138.28

Peer Group Total Shareholder Return Amount

161.22

102.14

142.25

105.74

Net Income (Loss)

$ (240,132,000)

$ (108,665,000)

$ 135,443,000

$ 5,983,000

Company Selected Measure Amount

560,431,000

907,272,000

801,275,000

228,600,000

PEO Name

Dave Girouard

Measure:: 1

Pay vs Performance Disclosure

Name

Stock Price

Measure:: 2

Pay vs Performance Disclosure

Name

Revenue from fees

Non-GAAP Measure Description

In the Company’s assessment, revenue from fees is the most important financial performance measure (other than stock price) used by the Company in 2023 to link compensation actually paid to performance. The dollar amounts reported are the Company’s revenue from fees reflected in the Company’s audited financial statements.

Measure:: 3

Pay vs Performance Disclosure

Name

Adjusted EBITDA

PEO | Grant Date Fair Value Of Equity Awards In Summary Compensation [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

$ 6,448,630

$ 9,149,205

$ 14,500,933

$ 8,030,055

PEO | Year End Fair Value Of Equity Awards Granted During Year That Are Outstanding And Unvested At Fiscal Year End [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

19,629,347

504,006

16,209,314

14,563,308

PEO | Year Over Year Change In Fair Value Of Outstanding And Unvested Equity Awards [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

1,945,989

(17,983,049)

27,295,026

0

PEO | Fair Value As Of Vesting Date Of Equity Awards Granted And Vested In The Year [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

3,486,043

0

0

600,046

PEO | Change In Fair Value Between The End Of The Prior Year And The Vesting Date Of Equity Awards Granted In Prior Years That Vested In The Year [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

346,933

(19,227,374)

26,424,363

43,665

PEO | Fair Value At The End Of The Prior Year Of Equity Awards That Failed To Meet Vesting Conditions In The Year [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

0

0

0

0

Non-PEO NEO | Grant Date Fair Value Of Equity Awards In Summary Compensation [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

3,401,172

17,579,916

5,127,734

1,115,300

Non-PEO NEO | Year End Fair Value Of Equity Awards Granted During Year That Are Outstanding And Unvested At Fiscal Year End [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

8,877,708

3,077,834

5,730,938

6,787,258

Non-PEO NEO | Year Over Year Change In Fair Value Of Outstanding And Unvested Equity Awards [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

6,695,249

(6,045,655)

19,263,996

6,442,870

Non-PEO NEO | Fair Value As Of Vesting Date Of Equity Awards Granted And Vested In The Year [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

917,367

0

0

0

Non-PEO NEO | Change In Fair Value Between The End Of The Prior Year And The Vesting Date Of Equity Awards Granted In Prior Years That Vested In The Year [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

570,939

(11,040,565)

18,194,677

380,966

Non-PEO NEO | Fair Value At The End Of The Prior Year Of Equity Awards That Failed To Meet Vesting Conditions In The Year [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

$ 128,165

$ 0

$ 0

$ 0