2023 Q1 Form 10-K Financial Statement

#000095017023002329 Filed on February 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $79.82M $76.55M $280.0M
YoY Change 25.31% 29.22% 35.49%
Cost Of Revenue $18.42M $17.28M $62.29M
YoY Change 32.88% 34.43% 48.93%
Gross Profit $61.40M $59.27M $217.8M
YoY Change 23.21% 27.78% 32.08%
Gross Profit Margin 76.92% 77.43% 77.76%
Selling, General & Admin $49.73M $49.89M $186.4M
YoY Change 18.76% 25.63% 21.31%
% of Gross Profit 80.99% 84.18% 85.59%
Research & Development $34.89M $30.70M $121.2M
YoY Change 28.73% 30.88% 52.29%
% of Gross Profit 56.82% 51.8% 55.67%
Depreciation & Amortization $3.847M $3.866M $14.66M
YoY Change 9.32% 7.21% 67.56%
% of Gross Profit 6.27% 6.52% 6.73%
Operating Expenses $84.61M $80.97M $307.6M
YoY Change 22.68% 27.65% 31.88%
Operating Profit -$23.21M -$21.70M -$89.84M
YoY Change 21.29% 27.29% 31.4%
Interest Expense $3.992M $2.935M $5.094M
YoY Change 1362.27% 16205.56% 584.68%
% of Operating Profit
Other Income/Expense, Net $3.992M $5.094M
YoY Change 1362.27% 584.68%
Pretax Income -$19.22M -$21.92M -$84.75M
YoY Change 1.88% -2.99% 25.32%
Income Tax $1.600M $1.238M $5.438M
% Of Pretax Income
Net Earnings -$20.81M -$23.16M -$90.18M
YoY Change 5.61% 2.03% 40.47%
Net Earnings / Revenue -26.07% -30.25% -32.2%
Basic Earnings Per Share -$0.21 -$0.91
Diluted Earnings Per Share -$0.21 -$0.23 -$0.91
COMMON SHARES
Basic Shares Outstanding 101.0M 100.3M 99.24M
Diluted Shares Outstanding 101.3M 99.24M

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $447.2M $443.2M $443.2M
YoY Change 4.56% 5.24% 5.24%
Cash & Equivalents $40.35M $45.60M $45.60M
Short-Term Investments $406.8M $397.6M $397.6M
Other Short-Term Assets $29.51M $26.71M $26.71M
YoY Change -2.64% -2.58% -2.58%
Inventory
Prepaid Expenses
Receivables $63.18M $62.12M $62.12M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $539.9M $532.0M $532.0M
YoY Change 6.41% 6.61% 6.61%
LONG-TERM ASSETS
Property, Plant & Equipment $7.482M $8.021M $32.62M
YoY Change 1.42% 19.91% -0.2%
Goodwill $248.0M $248.0M
YoY Change 0.0% 0.07%
Intangibles $34.58M $37.54M
YoY Change -23.39% -21.75%
Long-Term Investments
YoY Change
Other Assets $9.585M $7.576M $21.08M
YoY Change -30.75% -52.48% -15.9%
Total Long-Term Assets $338.9M $339.2M $339.2M
YoY Change -2.91% -4.05% -4.05%
TOTAL ASSETS
Total Short-Term Assets $539.9M $532.0M $532.0M
Total Long-Term Assets $338.9M $339.2M $339.2M
Total Assets $878.7M $871.2M $871.2M
YoY Change 2.61% 2.19% 2.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.09M $14.87M $14.87M
YoY Change 16.92% 36.8% 36.8%
Accrued Expenses $29.20M $35.98M $35.98M
YoY Change -19.11% 2.08% 2.08%
Deferred Revenue $162.9M $158.7M
YoY Change 21.03% 22.9%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $213.7M $209.6M $209.6M
YoY Change 16.91% 19.58% 19.58%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $3.285M $3.057M $36.88M
YoY Change 133.64% 329.35% -4.67%
Total Long-Term Liabilities $3.285M $3.057M $36.88M
YoY Change 133.64% 329.35% -4.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $213.7M $209.6M $209.6M
Total Long-Term Liabilities $3.285M $3.057M $36.88M
Total Liabilities $249.8M $246.4M $246.4M
YoY Change 13.61% 15.19% 15.19%
SHAREHOLDERS EQUITY
Retained Earnings -$250.0M -$229.2M
YoY Change 57.52% 64.88%
Common Stock $881.3M $856.7M
YoY Change 10.7% 10.27%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $628.9M $624.8M $624.8M
YoY Change
Total Liabilities & Shareholders Equity $878.7M $871.2M $871.2M
YoY Change 2.61% 2.19% 2.19%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$20.81M -$23.16M -$90.18M
YoY Change 5.61% 2.03% 40.47%
Depreciation, Depletion And Amortization $3.847M $3.866M $14.66M
YoY Change 9.32% 7.21% 67.56%
Cash From Operating Activities -$1.129M $7.314M $21.43M
YoY Change -122.44% -58.59% -23.21%
INVESTING ACTIVITIES
Capital Expenditures $266.0K $891.0K $4.328M
YoY Change -76.73% -185.84% 2.37%
Acquisitions $0.00 $179.0K
YoY Change -100.0% -99.91%
Other Investing Activities -$8.890M -$16.59M -$48.71M
YoY Change -49.92% -54.25% -59.65%
Cash From Investing Activities -$9.156M -$17.48M -$53.34M
YoY Change -51.55% -53.13% -57.51%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.952M 1.336M 11.03M
YoY Change -3.94% -47.36% 663.64%
NET CHANGE
Cash From Operating Activities -1.129M 7.314M 21.43M
Cash From Investing Activities -9.156M -17.48M -53.34M
Cash From Financing Activities 4.952M 1.336M 11.03M
Net Change In Cash -5.249M -8.832M -22.93M
YoY Change -39.74% -48.36% -76.16%
FREE CASH FLOW
Cash From Operating Activities -$1.129M $7.314M $21.43M
Capital Expenditures $266.0K $891.0K $4.328M
Free Cash Flow -$1.395M $6.423M $17.10M
YoY Change -135.88% -65.65% -27.78%

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638581000
CY2022 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
5922000
CY2022 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
5176000
CY2022 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
68661000
CY2022 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-3383000
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-90184000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
624773000
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-90184000
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-64203000
CY2020 us-gaap Net Income Loss
NetIncomeLoss
-9405000
CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
14655000
CY2021 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
8746000
CY2020 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3660000
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
68661000
CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
56949000
CY2022 frog Non Cash Operating Lease Expense
NonCashOperatingLeaseExpense
7357000
CY2021 frog Non Cash Operating Lease Expense
NonCashOperatingLeaseExpense
6108000
CY2020 frog Non Cash Operating Lease Expense
NonCashOperatingLeaseExpense
0
CY2022 us-gaap Investment Income Net Amortization Of Discount And Premium
InvestmentIncomeNetAmortizationOfDiscountAndPremium
-2354000
CY2021 us-gaap Investment Income Net Amortization Of Discount And Premium
InvestmentIncomeNetAmortizationOfDiscountAndPremium
-5522000
CY2020 us-gaap Investment Income Net Amortization Of Discount And Premium
InvestmentIncomeNetAmortizationOfDiscountAndPremium
-1905000
CY2022 us-gaap Foreign Currency Transaction Loss Before Tax
ForeignCurrencyTransactionLossBeforeTax
1799000
CY2021 us-gaap Foreign Currency Transaction Loss Before Tax
ForeignCurrencyTransactionLossBeforeTax
0
CY2020 us-gaap Foreign Currency Transaction Loss Before Tax
ForeignCurrencyTransactionLossBeforeTax
0
CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
11186000
CY2021 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
12810000
CY2020 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
12312000
CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-9286000
CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
17715000
CY2020 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
6997000
CY2022 frog Increase Decrease In Capitalized Contract Cost
IncreaseDecreaseInCapitalizedContractCost
7212000
CY2021 frog Increase Decrease In Capitalized Contract Cost
IncreaseDecreaseInCapitalizedContractCost
6195000
CY2020 frog Increase Decrease In Capitalized Contract Cost
IncreaseDecreaseInCapitalizedContractCost
2207000
CY2022 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
4102000
CY2021 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
504000
CY2020 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
4921000
CY2022 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
2242000
CY2021 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
13089000
CY2020 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
5509000
CY2022 frog Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-9058000
CY2021 frog Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-5051000
CY2020 frog Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
0
CY2022 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
28609000
CY2021 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
42958000
CY2020 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
20532000
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
21425000
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
27902000
CY2020 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
29458000
CY2022 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
411242000
CY2021 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
266319000
CY2020 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
450734000
CY2022 us-gaap Proceeds From Sale Maturity And Collection Of Shortterm Investments
ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments
362711000
CY2021 us-gaap Proceeds From Sale Maturity And Collection Of Shortterm Investments
ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments
341354000
CY2020 us-gaap Proceeds From Sale Maturity And Collection Of Shortterm Investments
ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments
142460000
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4328000
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4228000
CY2020 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3522000
CY2022 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
179000
CY2021 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
195752000
CY2020 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0
CY2022 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
300000
CY2021 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
600000
CY2020 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
0
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-53338000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
164739000
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-125545000
CY2020 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-311796000
CY2022 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
0
CY2021 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
0
CY2020 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
393481000
CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
5922000
CY2021 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
6837000
CY2020 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
3467000
CY2022 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
5176000
CY2021 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
3092000
CY2020 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
0
CY2022 frog Payments To Tax Authorities From Employee Equity Transactions Net
PaymentsToTaxAuthoritiesFromEmployeeEquityTransactionsNet
71000
CY2021 frog Payments To Tax Authorities From Employee Equity Transactions Net
PaymentsToTaxAuthoritiesFromEmployeeEquityTransactionsNet
8485000
CY2020 frog Payments To Tax Authorities From Employee Equity Transactions Net
PaymentsToTaxAuthoritiesFromEmployeeEquityTransactionsNet
-9186000
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
11027000
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1444000
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
406134000
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-2047000
CY2021 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
0
CY2020 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
0
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-22933000
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-96199000
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
123796000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
68540000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
164739000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
40943000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
45607000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
68540000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
164739000
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
-1709000
CY2021 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
153000
CY2020 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
-238000
CY2022 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
91000
CY2021 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
509000
CY2020 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
276000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
45595000
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
68284000
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
164461000
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
12000
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
13000
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
14000
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
0
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
243000
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
264000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
45607000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
68540000
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:2.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:12.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:2.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:12.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting periods and accompanying notes. Significant items subject to such estimates and assumptions include, but are not limited to, the allocation of transaction price among various performance obligations, the estimated customer life on deferred contract acquisition costs, the allowance for credit losses, the fair value of financial assets and liabilities, including the fair value of derivatives, the fair value of acquired intangible assets and goodwill, the useful lives of acquired intangible assets and property and equipment, the incremental borrowing rate for operating leases, loss contingency, the fair value of share purchase right granted under the Company’s employee share purchase plan, and the valuation of deferred tax assets and uncertain tax positions. The Company bases these estimates on historical and anticipated results, trends and various other assumptions that it believes are reasonable under the circumstances, including assumptions as to future events. Actual results could differ from those estimates.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p>
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:2.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:12.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Concentration of Risks</span></p><p style="text-indent:2.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:12.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Financial instruments that potentially subject the Company to a concentration of credit risk consist of cash and cash equivalents, restricted cash, short-term investments, accounts receivable, and derivative instruments. The Company maintains its cash, cash equivalents, restricted cash, and short-term investments with high-quality financial institutions mainly in the U.S. and Israel, and regularly monitors their composition and maturities. The Company’s derivatives expose it to credit risk to the extent that the counterparties may be unable to meet the terms of the agreement. The Company seeks to mitigate such risk by limiting its counterparties to major financial institutions and by spreading the risk across a number of major financial institutions. In addition, the potential risk of loss with any one counterparty resulting from this type of credit risk is monitored on an ongoing basis. The Company grants credit to its customers in the normal course of business.</span></p><p style="text-indent:2.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:12.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">As of December 31, 2022 and 2021, </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">no single customer</span></span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> represented </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">10</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">% or more of accounts receivable. </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">No single customer</span></span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> accounted for more than </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">10</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">% of total revenue for the periods presented.</span></p>
CY2022 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2021 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2020 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2022 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2021 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2020 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2022 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2021 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2020 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2022 us-gaap Advertising Expense
AdvertisingExpense
8600000
CY2021 us-gaap Advertising Expense
AdvertisingExpense
5800000
CY2020 us-gaap Advertising Expense
AdvertisingExpense
2700000
CY2022 us-gaap Interest Income Interest Earning Asset
InterestIncomeInterestEarningAsset
5900000
CY2021 us-gaap Interest Income Interest Earning Asset
InterestIncomeInterestEarningAsset
1500000
CY2020 us-gaap Interest Income Interest Earning Asset
InterestIncomeInterestEarningAsset
2500000
CY2022 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2022 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2022Q4 us-gaap Noncurrent Assets
NoncurrentAssets
32623000
CY2021Q4 us-gaap Noncurrent Assets
NoncurrentAssets
32688000
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
280040000
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
206683000
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
150827000
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
280040000
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
206683000
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
150827000
CY2021Q4 us-gaap Deferred Revenue
DeferredRevenue
147100000
CY2020Q4 us-gaap Deferred Revenue
DeferredRevenue
102800000
CY2019Q4 us-gaap Deferred Revenue
DeferredRevenue
82300000
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
10353000
CY2022 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
129100000
CY2021 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
83800000
CY2020 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
73700000
CY2022Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
204700000
CY2022Q4 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.84
CY2022 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
7200000
CY2021 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
4600000
CY2020 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
3000000.0
CY2022Q4 frog Short Term Investment Amortized Cost
ShortTermInvestmentAmortizedCost
399285000
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
73000
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1753000
CY2022Q4 us-gaap Short Term Investments
ShortTermInvestments
397605000
CY2021Q4 frog Short Term Investment Amortized Cost
ShortTermInvestmentAmortizedCost
353108000
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
1000
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
265000
CY2021Q4 us-gaap Short Term Investments
ShortTermInvestments
352844000
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
182375000
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
119196000
CY2022Q4 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
301571000
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
254648000
CY2022 us-gaap Available For Sale Debt Securities Gross Unrealized Loss
AvailableForSaleDebtSecuritiesGrossUnrealizedLoss
1753000
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
255257000
CY2021 us-gaap Available For Sale Debt Securities Gross Unrealized Loss
AvailableForSaleDebtSecuritiesGrossUnrealizedLoss
265000
CY2022Q4 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0
CY2021Q4 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0
CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
28848000
CY2022Q4 us-gaap Other Accrued Liabilities Current
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7956000
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CY2021Q4 us-gaap Property Plant And Equipment Gross
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8859000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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6407000
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8021000
CY2021Q4 us-gaap Property Plant And Equipment Net
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6689000
CY2022 us-gaap Depreciation
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CY2021 us-gaap Depreciation
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2800000
CY2020 us-gaap Depreciation
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20892000
CY2021Q4 us-gaap Employee Related Liabilities Current
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17601000
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19476000
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27954000
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230456000
CY2021Q4 us-gaap Goodwill
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CY2022 us-gaap Goodwill Purchase Accounting Adjustments
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179000
CY2022Q4 us-gaap Goodwill
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CY2022Q4 us-gaap Preferred Stock Shares Authorized
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7908000
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CY2021 us-gaap Amortization Of Intangible Assets
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CY2020 us-gaap Amortization Of Intangible Assets
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11034000
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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9110000
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
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5241000
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
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383000
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37544000
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CY2021 us-gaap Operating Lease Cost
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CY2022 us-gaap Short Term Lease Cost
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527000
CY2021 us-gaap Short Term Lease Cost
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139000
CY2022 us-gaap Variable Lease Cost
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377000
CY2021 us-gaap Variable Lease Cost
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375000
CY2022 us-gaap Lease Cost
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8586000
CY2021 us-gaap Lease Cost
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6788000
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CY2022Q4 us-gaap Purchase Obligation Due In Next Twelve Months
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CY2022Q4 us-gaap Purchase Obligation Due In Second Year
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CY2022Q4 us-gaap Purchase Obligation Due In Third Year
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25029000
CY2022Q4 us-gaap Purchase Obligation
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7546000
CY2021 us-gaap Operating Lease Payments
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CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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2653000
CY2022 frog Adjustment To Right Of Use Assets Upon Modification Of Existing Lease
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2393000
CY2021 frog Adjustment To Right Of Use Assets Upon Modification Of Existing Lease
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4969000
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
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CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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7531000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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3689000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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811000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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117000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
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24909000
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CY2022Q4 us-gaap Operating Lease Liability
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CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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518258
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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101334000
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CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
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CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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2949000
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
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0.003
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
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CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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CY2021 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2021Q4 frog Deferred Tax Assets Issuance Costs
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CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2021Q4 us-gaap Deferred Tax Assets Net
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