Segment and Geographic Information

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Segment and Geographic Information

15. SEGMENT AND GEOGRAPHIC INFORMATION

The Company’s Chief Executive Officer is its CODM. For the purposes of allocating resources and assessing performance, the CODM examines three segments, which are the Company’s three revenue sources: Consumer, Enterprise, and Degrees. This is also consistent with how the Company disaggregates revenue.

The following table presents financial information for each reportable segment:

	Three Months Ended June 30,				Six Months Ended June 30,
Revenue	2022		2021		2022		2021
Consumer	$	69,688	$	62,041	$	137,784	$	113,950
Enterprise		43,704		28,186		82,750		52,678
Degrees		11,362		11,862		24,653		23,823
Total revenue	$	124,754	$	102,089	$	245,187	$	190,451
Segment gross profit
Consumer	$	50,716	$	40,737	$	99,012	$	70,392
Enterprise		31,114		19,015		59,066		35,596
Degrees		11,362		11,862		24,653		23,823
Total segment gross profit	$	93,192	$	71,614	$	182,731	$	129,811
Reconciliation of segment gross profit to gross profit
Platform and support costs	$	10,270	$	7,066	$	18,163	$	13,376
Stock-based compensation expense		812		903		1,389		1,010
Amortization of internal-use software		3,059		2,157		5,870		3,988
Amortization of intangible assets		645		561		1,273		973
Total reconciling items		14,786		10,687		26,695		19,347
Gross profit	$	78,406	$	60,927	$	156,036	$	110,464

Geographic Information:

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

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
United States	$	66,009	$	51,844	$	128,784	$	97,290
Europe, Middle East, and Africa		30,973		28,060		61,589		52,641
Asia Pacific		16,284		13,053		32,301		23,941
Other		11,488		9,132		22,513		16,579
Total	$	124,754	$	102,089	$	245,187	$	190,451

No single country other than the United States represented 10% or more of the Company’s total revenue during the three and six months ended June 30, 2022 and 2021.

Long-lived assets: The following table presents the Company’s long-lived assets, consisting of property, equipment, and software, net of depreciation and amortization, and operating lease right-of-use assets, by geographic region:

	As of
	June 30, 2022		December 31, 2021
United States	$	38,630	$	40,245
Rest of World		742		801
Total	$	39,372	$	41,046