Segment and Geographic Information

9 Months Ended

Sep. 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 September 30,				Nine Months Ended September 30,
Revenue	2022		2021		2022		2021
Consumer	$	78,002	$	66,482	$	215,786	$	180,432
Enterprise		48,044		31,840		130,794		84,518
Degrees		10,343		11,558		34,996		35,381
Total revenue	$	136,389	$	109,880	$	381,576	$	300,331
Segment gross profit
Consumer	$	57,078	$	45,499	$	156,090	$	115,891
Enterprise		33,993		21,414		93,059		57,011
Degrees		10,343		11,558		34,996		35,381
Total segment gross profit	$	101,414	$	78,471	$	284,145	$	208,283
Reconciliation of segment gross profit to gross profit
Platform and support costs	$	8,962	$	6,842	$	27,125	$	20,218
Stock-based compensation expense		683		527		2,072		1,537
Amortization of internal-use software		3,545		2,795		9,415		6,783
Amortization of intangible assets		656		589		1,929		1,563
Total reconciling items		13,846		10,753		40,541		30,101
Gross profit	$	87,568	$	67,718	$	243,604	$	178,182

Geographic Information:

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
United States	$	72,466	$	55,451	$	201,250	$	152,741
Europe, Middle East, and Africa		33,004		28,863		94,593		81,504
Asia Pacific		18,290		15,424		50,591		39,365
Other		12,629		10,142		35,142		26,721
Total	$	136,389	$	109,880	$	381,576	$	300,331

No single country other than the United States represented 10% or more of the Company’s total revenue during the three and nine months ended September 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:

	September 30, 2022		December 31, 2021
United States	$	37,649	$	40,245
Rest of World		1,258		801
Total	$	38,907	$	41,046