v3.24.0.1
Segment and Geographic Information
 12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Segment and Geographic Information Segment and Geographic Information
The following reporting segment tables reflect the results of the Company’s reportable operating segments consistent with the manner in which the CODM evaluates the performance of each segment and allocates the Company’s resources. The CODM does not evaluate the performance of the Company’s assets on a segment basis for internal management reporting and, therefore, such information is not presented.
Contribution is used, in part, to evaluate the performance of, and allocate resources to, each of the segments. A segment’s contribution is calculated as segment revenue less the related costs of revenue and sales and marketing expenses. It excludes certain operating expenses that are not allocated to segments because they are separately managed at the consolidated corporate level, or are noncash costs. These unallocated and noncash costs include stock-based compensation expense, research and development expenses, and general and administrative expenses.
Financial information for each reportable segment was as follows (in thousands):
Years Ended December 31,
202320222021
Revenue:
Government$1,222,215 $1,071,776 $897,356 
Commercial1,002,797 834,095 644,533 
Total revenue$2,225,012 $1,905,871 $1,541,889 
Years Ended December 31,
202320222021
Amount%Amount%Amount%
Contribution:
Government$724,970 59 %$620,677 58 %$541,883 60 %
Commercial520,585 52 %414,496 50 %357,546 55 %
Total contribution$1,245,555 56 %$1,035,173 54 %$899,429 58 %
The reconciliation of contribution to income (loss) from operations is as follows (in thousands):
Years Ended December 31,
202320222021
Income (loss) from operations
$119,966 $(161,201)$(411,046)
Research and development expenses (1)
306,560 265,808 237,189 
General and administrative expenses (1)
343,126 365,768 295,071 
Total stock-based compensation expense475,903 564,798 778,215 
Total contribution$1,245,555 $1,035,173 $899,429 
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(1) Excludes stock-based compensation expense.
Geographic Information
Revenue by geography is based on the customer’s headquarters or agency location at the time of sale. Revenue is as follows (in thousands, except percentages):
Years Ended December 31,
202320222021
Amount%Amount%Amount%
Revenue:
United States$1,378,247 62 %$1,161,416 61 %$879,156 57 %
United Kingdom235,257 11 %220,942 12 %173,362 11 %
Rest of world (1)
611,508 27 %523,513 27 %489,371 32 %
Total revenue$2,225,012 100 %$1,905,871 100 %$1,541,889 100 %
—————
(1) No other country represented 10% or more of total revenue for the years ended December 31, 2023, 2022, or 2021.
Property and equipment, net is attributed to the Company’s office locations as follows (in thousands, except percentages):
As of December 31,
20232022
Amount%Amount%
Property and equipment, net:
United States$28,825 60 %$46,599 67 %
Japan11,440 24 %13,318 19 %
United Kingdom5,851 12 %6,746 10 %
Rest of world1,642 4 %2,507 4 %
Total property and equipment, net$47,758 100 %$69,170 100 %