0001581760-22-000021 | 10-Q | XBRL Viewer

Revenue

Revenue by geography is generally based on the address of the customer as defined in the contract with the customer. The following table sets forth revenue by geographic area (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021

North America	$	52,041	$	27,553	$	141,352	$	72,150
Europe, Middle East and Africa	2,264		1,155		8,843		2,832
Other international regions	2,848		989		6,772		2,716
Total revenue	$	57,153	$	29,697	$	156,967	$	77,698

Deferred Revenue

Deferred revenue, which is a contract liability, consists primarily of payments received and accounts receivable recorded in advance of revenue recognition under the Company’s contracts with customers and is recognized as the revenue recognition criteria are met.

The following table represents a roll forward of the Company’s deferred revenue (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Deferred revenue, beginning of period	$	28,821	$	12,013	$	13,929	$	11,855
Acquired deferred revenue	1,173		403		10,081		403
Additions to deferred revenue	52,098		25,345		146,337		62,041
Recognized revenue in the period	(51,206)		(23,148)		(139,461)		(59,686)
Deferred revenue, end of period	$	30,886	$	14,613	$	30,886	$	14,613

The acquired deferred revenue balance of $1.2 million for the three months ended September 30, 2022 relates to a measurement period adjustment to the preliminary purchase price allocation for the acquisition of Tile, Inc. Refer to Note 7 “Business Combinations” for additional information.

Costs Capitalized to Obtain Contracts

The Company recognizes as an asset the incremental costs of obtaining a contract with a customer if the entity expects to recover those costs. The Company determined that its costs to obtain contracts were both direct and incremental. These costs are attributable to the Company’s largest channel partners.

Renewal contracts are considered non-commensurate with new contracts as the Company pays a different commission rate for renewals. Accordingly, the guidance requires that specifically anticipated renewal periods should be taken into consideration in determining the required amortization period. Specifically, under the guidance of ASC 340-40, the Company is required to estimate the specifically anticipated renewals after the initial contract to which the initial commission asset relates. The total amortization period is then equal to the initial contractual term plus all specifically anticipated renewals that relate to the initial commission asset. Based upon its assessment of historical data and other factors, the Company concluded that its average customer life was approximately two to three years depending on the subscription type, which is used as the amortization period for all capitalized contract acquisition costs for that subscription type.

The following table represents a roll forward of the Company’s costs capitalized to obtain contracts, net (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Capitalized costs to obtain contracts, beginning of period	$	1,776	$	2,743	$	1,649	$	3,951
Acquired costs capitalized to obtain contracts	—		—		848		—
Additions to capitalized costs to obtain contracts	979		334		1,929		1,381
Amortization of capitalized costs to obtain contracts	(748)		(909)		(2,419)		(3,164)
Capitalized costs to obtain contracts, end of period	$	2,007	$	2,168	$	2,007	$	2,168

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI https://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Deferred Revenue

9 Months Ended

Sep. 30, 2022

Deferred Revenue

Revenue

Revenue by geography is generally based on the address of the customer as defined in the contract with the customer. The following table sets forth revenue by geographic area (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021

North America	$	52,041	$	27,553	$	141,352	$	72,150
Europe, Middle East and Africa	2,264		1,155		8,843		2,832
Other international regions	2,848		989		6,772		2,716
Total revenue	$	57,153	$	29,697	$	156,967	$	77,698

Deferred Revenue

The following table represents a roll forward of the Company’s deferred revenue (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Deferred revenue, beginning of period	$	28,821	$	12,013	$	13,929	$	11,855
Acquired deferred revenue	1,173		403		10,081		403
Additions to deferred revenue	52,098		25,345		146,337		62,041
Recognized revenue in the period	(51,206)		(23,148)		(139,461)		(59,686)
Deferred revenue, end of period	$	30,886	$	14,613	$	30,886	$	14,613

Costs Capitalized to Obtain Contracts

The following table represents a roll forward of the Company’s costs capitalized to obtain contracts, net (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Capitalized costs to obtain contracts, beginning of period	$	1,776	$	2,743	$	1,649	$	3,951
Acquired costs capitalized to obtain contracts	—		—		848		—
Additions to capitalized costs to obtain contracts	979		334		1,929		1,381
Amortization of capitalized costs to obtain contracts	(748)		(909)		(2,419)		(3,164)
Capitalized costs to obtain contracts, end of period	$	2,007	$	2,168	$	2,007	$	2,168

Costs Capitalized to Obtain Contracts

9 Months Ended

Sep. 30, 2022

Costs Capitalized to Obtain Contracts

Revenue

Revenue by geography is generally based on the address of the customer as defined in the contract with the customer. The following table sets forth revenue by geographic area (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021

North America	$	52,041	$	27,553	$	141,352	$	72,150
Europe, Middle East and Africa	2,264		1,155		8,843		2,832
Other international regions	2,848		989		6,772		2,716
Total revenue	$	57,153	$	29,697	$	156,967	$	77,698

Deferred Revenue

The following table represents a roll forward of the Company’s deferred revenue (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Deferred revenue, beginning of period	$	28,821	$	12,013	$	13,929	$	11,855
Acquired deferred revenue	1,173		403		10,081		403
Additions to deferred revenue	52,098		25,345		146,337		62,041
Recognized revenue in the period	(51,206)		(23,148)		(139,461)		(59,686)
Deferred revenue, end of period	$	30,886	$	14,613	$	30,886	$	14,613

Costs Capitalized to Obtain Contracts

The following table represents a roll forward of the Company’s costs capitalized to obtain contracts, net (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Capitalized costs to obtain contracts, beginning of period	$	1,776	$	2,743	$	1,649	$	3,951
Acquired costs capitalized to obtain contracts	—		—		848		—
Additions to capitalized costs to obtain contracts	979		334		1,929		1,381
Amortization of capitalized costs to obtain contracts	(748)		(909)		(2,419)		(3,164)
Capitalized costs to obtain contracts, end of period	$	2,007	$	2,168	$	2,007	$	2,168

Fair Value Measurements

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Fair Value Measurements

The Company measures and reports certain financial instruments as assets and liabilities at fair value on a recurring basis. These liabilities are considered Level 3 instruments.

The fair value of these instruments as of September 30, 2022 and December 31, 2021 are classified as follows (in thousands):


	As of September 30, 2022
	Level 1		Level 2		Level 3		Total

Liabilities:
Derivative liability (Note 10)	$	—	$	—	$	213	$	213
Convertible notes (Note 9)	—		—		6,834		6,834
Total	$	—	$	—	$	7,047	$	7,047


	As of December 31, 2021
	Level 1		Level 2		Level 3		Total
Liabilities:
Derivative liability (Note 10)	$	—	$	—	$	1,396	$	1,396
Convertible notes (Note 9)	—		—		12,293		12,293
Contingent consideration	—		—		9,500		9,500
Total	$	—	$	—	$	23,189	$	23,189

The change in fair value of the Level 3 instruments were as follows (in thousands):


	As of September 30, 2022
	Derivative liability (Note 10)		Convertible notes (Note 9)		Contingent consideration

Fair value, beginning of the year	$	1,396	$	12,293	$	9,500
Vesting of revesting notes	—		122		—
Forfeiture of revesting notes	—		(235)		—
Repayment of convertible notes (Note 9)	—		(3,471)		—
Issuance of common stock in settlement of contingent consideration	—		—		(4,221)
Changes in fair value	(1,183)		(1,875)		(5,279)
Fair value, end of quarter	$	213	$	6,834	$	—


	As of December 31, 2021
	Derivative liability (Note 10)		Convertible notes (Note 9)		Contingent consideration
Fair value, beginning of the year	$	—	$	—	$	—
Issuance of derivative liability	663		—		—
Issuances of convertible notes	—		11,597		—
Issuance of revesting notes	—		186		—
Issuance of contingent consideration	—		—		5,900
Changes in fair value	733		510		3,600
Fair value, end of year	$	1,396	$	12,293	$	9,500

For the three and nine months ended September 30, 2022, the Company recorded a loss associated with the change in fair value of the derivative liability of $0.1 million and gain of $1.2 million, respectively. For the three and nine months ended September 30, 2022, the Company recorded a loss associated with convertible notes of $0.2 million and gain of $1.9 million, respectively. For the year ended December 31, 2021, the Company had recorded a loss associated with the change in fair value of the derivative liability and convertible notes of $0.7 million and $0.5 million, respectively. The amounts have been recorded in other income (expense), net in the condensed consolidated statement of operations and comprehensive loss.

The Company has recorded a gain associated with the change in fair value of the contingent consideration of $0 million and $5.3 million for the three and nine months ended September 30, 2022, in general and administrative expense in the condensed consolidated statement of operations and comprehensive loss. For the three and nine months ended September 30, 2021, the Company recorded a loss associated with the change in fair value of the derivative liability of $0.4 million and gain of $0.4 million, respectively. No gain or loss associated with changes in fair value of convertible notes or contingent consideration were recorded for the three and nine months ended September 30, 2021.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

Business Combination and Asset Acquisition [Abstract]

Business Combinations

9 Months Ended

Sep. 30, 2022

Business Combinations

Jio, Inc.

On September 1, 2021, the Company completed the acquisition of Jiobit, a privately held consumer electronics company that specializes in the production of low powered sensors and wearables. The company is based in Chicago, Illinois with an additional development center in Silicon Valley, California and was founded in 2015. Jiobit has developed a small and long-lasting tracking solution. The mobile app, which is run through a wireless subscription service, offers a comprehensive set of monitoring and notification features. The addition of Jiobit is expected to strengthen and extend the Company’s market leadership position by leveraging Jiobit’s developed technology and customer relationships to accelerate the Company’s own product development and augment the Company with a critical mass of talent with strong tracking/wearables experience. The aggregate purchase consideration was $43.2 million, of which $7.3 million was paid in cash, $5.9 million of contingent consideration was payable upon reaching certain operational goals for 2021 and 2022, $11.6 million representing the fair value of convertible notes (the “September 2021 Convertible Notes”), $4.0 million representing forgiveness of Jiobit’s convertible debt held by the Company, $0.6 million comprised of 25,245 vested common stock options issued to Jiobit employees (“replacement awards”), and $13.8 million comprised of 674,516 shares of the Company’s common stock. Of the consideration transferred, $0.2 million in cash was placed in an indemnity escrow fund to be held for fifteen months after the acquisition date for general representations and warranties.

The September 2021 Convertible Notes issued as part of the purchase consideration can be converted to common stock at any time subsequent to the acquisition at a fixed conversion price of $22.50 per share. On each of the first three annual anniversaries of the issuance date of the September 2021 Convertible Notes, the Company will repay 1/3rd of the unconverted principal plus accrued interest to the holders of such notes. Upon a change of control, the holder may elect to either convert at the fixed conversion price of $22.50 per share or be repaid in full. The Company has elected the fair value option and will remeasure the September 2021 Convertible Notes at their fair value on each reporting date and reflect the changes in fair value in earnings. The estimated fair value of the September 2021 Convertible Notes is determined using a

combination of the present value of the cash flows and the Black-Scholes option pricing model using assumptions as follows:


	As of September 1,			As of December 31,			As of September 30,
	2021			2021			2022
Principal	$	11,206		$	11,206		$	6,730
Interest rate	4.5		%	4.5		%	7.4		%
Common stock fair value per share	20.49			21.16			9.51
Conversion price per share	22.50			22.50			22.50
Risk-free interest rate	0.45		%	0.88		%	4.26		%
Time to exercise (in years)	3.00			2.70			1.90
Volatility	37		%	43		%	57		%
Annual dividend yield	0		%	0		%	0		%

A total of $6.0 million was excluded from purchase consideration which consists of $1.9 million comprised of 91,217 shares of the Company’s common stock (“Revesting Stock” – Note 14) and $1.6 million comprised of convertible notes (“Revesting Notes”) issued to key employees, retention bonuses of $1.0 million, and $0.5 million comprised of 43,083 unvested common stock options issued to Jiobit employees (“Unvested Replacement Awards” – Note 14). The Company incurred transaction related expenses of $1.0 million, which were expensed as incurred and recorded under general and administrative expenses in the condensed consolidated statements of operations and comprehensive loss.

The Revesting Stock and Revesting Notes are restricted and vest with continuous employment of certain key employees over a 3-year period subsequent to the acquisition. The Revesting Stock is recognized in general and administrative expense as the Revesting Stock vests. In April 2022, one of the key employees exited the Company, and so the entirety of their Revesting Notes and Revesting Stock was forfeited. The Company recorded $0.3 million as stock-based compensation included in general and administrative expense related to the forfeiture of their Revesting Stock and $0.3 million as compensation included in general and administrative expense related to the forfeiture of their Revesting Notes.

The Company recorded an immaterial amount and $0.2 million as stock-based compensation included in general and administrative expense related to the vesting of the Revesting Stock for the three and nine months ended September 30, 2022.

The Company records the Revesting Notes at fair value and will remeasure the Revesting Notes at fair value on each reporting date. The Revesting Notes are recognized in general and administrative expense. As the Revesting Notes vest, the changes in fair value are recorded as general and administrative expense with a corresponding entry to convertibles notes. The estimated fair value of the Revesting Notes is determined using a combination of the present value of the Revesting Notes cash flows and the Black-Scholes option pricing model. The terms of the Revesting Notes are consistent with the terms of the September 2021 Convertible Notes. The Company recorded an immaterial amount and $0.2 million as general and administrative and expense related to the changes in fair value of Revesting Notes during the three and nine months ended September 30, 2022, respectively.

The retention bonuses are recognized in prepaid expenses and other assets, noncurrent in the condensed consolidated balance sheet and vest monthly over a period of 24 months and require continuous employment. The expense associated with the Unvested Replacement Awards is recognized as stock-based compensation ratably over the remaining service period.

The 2021 and 2022 contingent consideration is based on the achievement of a Qualifying Units Sold Target for the period January 1, 2021 through December 31, 2021 (“2021 Contingent Consideration”) and for the period January 1, 2022 through December 31, 2022 (“2022 Contingent Consideration,” collectively, “Contingent Consideration”). The Contingent Consideration consists of 301,261 and 451,891 shares for 2021 and 2022, respectively, with the amount paid equal to the attainment relative to target in each year and settled in shares of the Company’s common stock. The Contingent

Consideration shares payable is determined based on the percentage achievement relative to the target in each period, respectively, with greater than 100% attainment resulting in 100% payment, 90% to 100% attainment resulting in the number of shares equal to the percentage attainment, and less than 90% attainment equal to no consideration. The Contingent Consideration is held at fair value with changes in fair value recognized in general and administrative expense. The estimated fair value of the Contingent Consideration is determined by using a Monte Carlo Simulation scenario-based analysis that estimates the fair value of the Contingent Consideration based on the probability-weighted present value of the expected future cash flows, considering possible outcomes based on actual and forecasted results. The estimated fair value of the 2021 and 2022 Contingent Consideration upon issuance was $0.1 million and $5.8 million, respectively. The estimated fair value of the 2021 and 2022 Contingent Consideration as of December 31, 2021 was $6.3 million and $3.1 million, respectively. The Company recorded a $0 million and $5.3 million gain within general and administrative expense related to the change in the fair value of the Contingent Consideration during the three and nine months ended September 30, 2022, respectively.

In April 2022, the Board of Directors and previous Jiobit shareholders approved an amendment to the 2021 Contingent Consideration. The 2021 Contingent Consideration was amended to 50% of the total potential amount of which 376,573 shares of the Company’s common stock were issued to shareholders. The fair value of the common stock of $4.2 million was recorded to additional paid-in capital and the contingent consideration liability was reversed.

The acquisition was accounted for as a business combination. The total purchase price of $43.2 million was allocated to the net tangible and intangible assets and liabilities based on their estimated fair values on the acquisition date and the excess was recorded to goodwill. The provisional values assigned to the assets acquired and liabilities assumed are based on preliminary estimates of fair value available as of the date of these financial statements and may be adjusted during the measurement period of up to 12 months from the date of acquisition. Any changes in the fair values of the assets acquired and liabilities assumed during the measurement period may result in adjustments to goodwill.

The assets acquired and liabilities assumed in connection with the acquisition were recorded at their fair value on the date of acquisition as follows (in thousands):


	Fair Value
Net tangible assets	$	5,986
Intangible assets	8,400
Goodwill	30,363
Liabilities assumed	(1,551)
Total acquisition consideration	$	43,198

The following table sets forth the components of identifiable intangible assets acquired (in thousands) and their estimated useful lives as of the date of acquisition:


	Fair Value		Estimated Useful Life (in years)
Developed technology	$	4,030	5
Trade name	3,380		10
Customer relationships	990		10
Total identified intangible assets	$	8,400

Goodwill represents the future economic benefits arising from other assets that could not be individually identified and separately recognized, such as the acquired assembled workforce of Jiobit. In addition, goodwill represents the future benefits as a result of the acquisition that will enhance the Company’s product available to both new and existing customers and increase the Company’s competitive position. The goodwill is not deductible for tax purposes.

The Company estimated and recorded a net deferred tax liability of $0.1 million after offsetting the acquired available tax attributes with the intangible assets shown in the table above. Refer to Note 15 “Income Taxes” for discussion of the partial release of the Company’s valuation allowance relating to the deferred tax liability.

The results of operations of Jiobit are included in the accompanying condensed consolidated statements of operations and comprehensive loss from the date of acquisition.

Tile, Inc.

On January 5, 2022, the Company completed the acquisition of Tile, Inc. (“Tile”), a privately held consumer electronics company. The company is based in San Mateo, California and was founded in 2012. Tile is a smart location company whose product includes a Bluetooth enabled device and related accessories that work in tandem with the Tile Application (the “Application”), to enable its customers to locate lost or misplaced objects. Tile offers a comprehensive list of products to use with the application, along with optional subscription services to enhance features offered for Tile products. The addition of Tile is expected to strengthen and extend Life360’s market leadership position by leveraging Tile’s developed technology and customer relationships to accelerate the Company’s own product development and augment the Life360 team with a critical mass of talent. The aggregate purchase consideration was $173.6 million, of which $158.0 million was paid in cash and $15.6 million paid in equity. The $15.6 million in equity was comprised of 780,593 shares of the Company’s common stock valued on the date of acquisition and 534,465 shares of common stock contingent consideration which was promised upon reaching certain operational goals. Of the consideration transferred, $14.1 million in cash and 84,524 common shares were placed in an indemnity escrow fund to be held for fifteen months after the acquisition date for general representations and warranties.

A total of $35.0 million was excluded from purchase consideration which consists of retention consideration of 1,499,349 shares of retention restricted stock units valued at $29.6 million, $0.4 million related to 38,730 vested common stock options issued to Tile employees (“replacement awards”) as stock-based compensation on the acquisition date and change in control bonuses of $3.0 million which were recognized as compensation expense on the condensed consolidated statements of operations on the acquisition date. The Company incurred transaction related expenses of $1.7 million, which were recorded under general and administrative expenses in the condensed consolidated statements of operations. The remaining costs excluded from purchase consideration were a result of 1,561 shares granted to key employee and vested based continued employment and 4,784 shares of contingent consideration granted to a key employee and vested based on continued employment.

Of the 1,499,349 shares of retention restricted stock units, 787,446 shares valued at $15.6 million contain performance vesting criteria based on the achievement of certain company milestones, and vest over a two year period. The remaining retention restricted stock units of 711,903 shares vest over a two to four year period.

The contingent consideration is based on the achievement of the Company’s achievement certain targets for revenue and earnings before interest, taxes, depreciation, and amortization (“EBITDA”) for the three months ended December 31, 2021 and the three months ended September 30, 2022. The Company determined that the criteria to satisfy the contingent consideration was not met, and as such, no value was ascribed to the contingent consideration.

The acquisition was accounted for as a business combination and the total purchase consideration was allocated to the net tangible and intangible assets and liabilities based on their fair values on the acquisition date and the excess was recorded to goodwill. The provisional values assigned to the assets acquired and liabilities assumed are based on preliminary estimates of fair value available as of the date of these financial statements and certain assets and liabilities may be subject to adjustment during the measurement period of up to 12 months from the date of acquisition including, but not limited to, intangible assets, certain reserves and income taxes. Any changes in the fair values of the assets acquired and liabilities assumed during the measurement period may result in adjustments to goodwill.

During the three months ended September 30, 2022, the Company made a measurement period adjustment to the preliminary purchase price allocation which included: (i) an increase to goodwill of $0.4 million, (ii) an increase to deferred revenue of $1.2 million, and (iii) an increase to inventory of $0.8 million. The measurement period adjustment was made to reflect facts and circumstances that existed as of the acquisition date and is reflected in the table below.

The assets acquired and liabilities assumed in connection with the acquisition were recorded at their fair value on the date of acquisition as follows (in thousands):


	Fair Value
Cash	$	32,997
Restricted cash	1,050
Accounts receivable	27,826
Prepaid expenses and other current assets	5,004
Inventory	8,320
Property and equipment	570
Prepaid expenses and other assets, noncurrent	482
Intangible assets	52,700
Goodwill	102,493
Accounts payable	(23,197)
Accrued expenses and other current liabilities	(24,613)
Deferred revenue	(10,081)
Total acquisition consideration	$	173,551

The following table sets forth the components of identifiable intangible assets acquired and their estimated useful lives as of the date of acquisition:


	Fair Value (in thousands)		Estimated Useful Life (in years)
Developed technology	$	18,400	5
Trade name	20,000		10
Customer relationships	14,300		8
Total identified intangible assets	$	52,700

Goodwill represents the future economic benefits arising from other assets that could not be individually identified and separately recognized, such as the acquired assembled workforce of Tile. In addition, goodwill represents the future benefits as a result of the acquisition that will enhance the Company’s product available to both new and existing customers and increase the Company’s competitive position. The goodwill is not deductible for tax purposes.

The results of operations of Tile are included in the accompanying condensed consolidated statements of operations and comprehensive loss from the date of acquisition.

Balance Sheet Components

9 Months Ended

Sep. 30, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Balance Sheet Components

Accounts receivable, net

Accounts receivable, net consists of the following (in thousands):


	As of September 30,		As of December 31,
	2022		2021

Accounts receivable	$	23,280	$	11,772
Allowance for doubtful accounts	(94)		—
Accounts receivable, net	$	23,186	$	11,772

Inventory

Inventory consists of the following (in thousands):


	As of September 30,		As of December 31,
	2022		2021

Raw materials	$	1,821	$	1,298
Finished goods	13,385		711
Total inventory	$	15,206	$	2,009

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consist of the following (in thousands):


	As of September 30,		As of December 31,
	2022		2021

Prepaid expenses	$	8,348	$	9,798
Other receivables	2,457		792
Total prepaid expenses and other current assets	$	10,805	$	10,590

Prepaid expenses primarily consist of certain cloud platform and customer service program costs. Other receivables primarily consist of refunds and other deposits.

Property and Equipment, net

Property and equipment, net consists of the following (in thousands):


	As of September 30,		As of December 31,
	2022		2021

Computer equipment	$	671	$	479
Leasehold improvements	1,006		923
Production manufacturing equipment	624		378
Furniture and fixtures	431		422
Total property and equipment, gross	2,732		2,202
Less: accumulated depreciation	(2,207)		(1,622)
Total property and equipment, net	$	525	$	580

Depreciation expense was $0.1 million and $0.3 million for the three and nine months ended September 30, 2022 and $0.2 million and $0.4 million for the three and nine months ended September 30, 2021, respectively.

Prepaid Expenses and Other Assets, noncurrent

Prepaid expenses and other assets, noncurrent consist of the following (in thousands):


	As of September 30,		As of December 31,
	2022		2021

Prepaid expenses	$	1,993	$	3,324
Investment in affiliate	5,474		—
Other assets	136		367
Total prepaid expenses and other assets, noncurrent	$	7,603	$	3,691

Prepaid expenses primarily consist of cloud platform costs. Investment in affiliate relates to warrants to purchase shares of common stock of a current Data Revenue Partner. Refer to Note 3 “Revenue” for additional information.

Leases

The Company currently leases real estate space under non-cancelable operating lease agreements for its corporate headquarters in San Francisco, San Mateo and San Diego, California and Chicago, Illinois. The operating leases have remaining lease terms of up to 2 years, some of which include the option to extend the lease.

The Company has recognized a right-of-use (ROU) asset, short term and long-term lease liabilities of $1.5 million, $1.3 million, and $0.2 million in “Right-of-use-asset,” “Accrued expenses and other liabilities,” and “Other noncurrent liabilities,” respectively, on the Company’s condensed consolidated balance sheet as of September 30, 2022.

The Company has recognized operating ROU assets, short term and long-term lease liabilities of $1.6 million, $1.6 million, and $0.3 million in “Right-of-use-asset,” “Accrued expenses and other liabilities,” and “Other noncurrent liabilities,” respectively, on the Company’s condensed consolidated balance sheet as of December 31, 2021.

The Company did not have any finance leases as of September 30, 2022 or December 31, 2021.

Operating lease costs were as follows (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021

Operating lease cost (1)	$	602	$	367	$	1,796	$	1,076

(1) Amounts include short-term leases, which are immaterial.

The weighted-average remaining term of the Company’s operating leases was 1.0 years and 1.3 years as of September 30, 2022 and December 31, 2021, respectively, and the weighted-average discount rate used to measure the present value of the operating lease liabilities was 5.0% and 4.8%, respectively.

Maturities of the Company’s operating lease liabilities, which do not include short-term leases, as of September 30, 2022 were as follows (in thousands):


	Operating leases
Remainder of 2022	$	548
2023	931
2024	61
Total future minimum lease payments	1,540
Less imputed interest	(38)
Total operating lease liability	$	1,502

Payments for operating leases included in cash from operating activities were $0.6 million and $1.8 million for the three and nine months ended September 30, 2022 and $0.4 million and $1.1 million for the three and nine months ended September 30, 2021, respectively.

Intangible Assets, net

Intangible assets, net consists of the following (in thousands):


	As of September 30,		As of December 31,
	2022		2021

Intellectual property	$	225	$	225
Licenses	237		237
Trade name	23,380		3,380
Technology	22,685		4,285
Customer relationships	15,290		990
Internal use software	701		—
Total intangible assets, gross	62,518		9,117
Less: accumulated amortization	(7,584)		(1,131)
Total intangible assets, net	$	54,934	$	7,986

Amortization expense was $2.2 million and $6.5 million for the three and nine months ended September 30, 2022. $0.1 million of amortization expense was recorded for the three and nine months ended September 30, 2021.

As of September 30, 2022, estimated remaining amortization expense for intangible assets by fiscal year is as follows (in thousands):


	Amount

Remainder of 2022	$	2,236
2023	8,944
2024	8,944
2025	8,864
2026	8,442
Beyond	17,504
Total future amortization expense	$	54,934

The weighted-average remaining useful lives of the Company’s acquired intangible assets are as follows:


	Weighted-Average Remaining Useful Life
	As of September 30,	As of December 31,
	2022	2021

Trade name	9.2 years	9.7 years
Technology	4.2 years	4.5 years
Customer relationships	7.4 years	9.7 years

The detail of intangible assets, net is as follows (in thousands):


	As of September 30, 2022
	Intellectual property		Licenses		Trade name		Technology		Customer relationships		Internal use software		Total
Total intangible assets	$	225	$	237	$	23,380	$	22,685	$	15,290	$	701	$	62,518
Less accumulated amortization	(225)		(237)		(1,839)		(3,839)		(1,424)		(20)		(7,584)
Total intangible assets, net	$	—	$	—	$	21,541	$	18,846	$	13,866	$	681	$	54,934


	As of December 31, 2021
	Intellectual property		Licenses		Trade name		Technology		Customer relationships		Total
Total intangible assets	$	225	$	237	$	3,380	$	4,285	$	990	$	9,117
Less accumulated amortization	(225)		(237)		(113)		(523)		(33)		(1,131)
Total intangible assets, net	$	—	$	—	$	3,267	$	3,762	$	957	$	7,986

Goodwill

Goodwill consists of the following (in thousands):



Balance as of December 31, 2021	$	31,127
Acquisitions	102,493
Balance as of September 30, 2022	$	133,620

Accrued Expenses and Other Liabilities

Accrued expenses and other liabilities consist of the following (in thousands):


	As of September 30,		As of December 31,
	2022		2021

Accrued vendor expenses	$	14,698	$	7,478
Accrued compensation	3,871		1,324
Customer related promotions and discounts	3,413		—
Operating lease liability	1,313		1,574
Other current liabilities	3,863		171
Total accrued expenses and other liabilities	$	27,158	$	10,547

Other current liabilities primarily relate to warranty liabilities and return accruals related to the Company’s hardware tracking devices.

Escrow Liability

The escrow liability relates to restricted cash associated with the Tile, Inc. acquisition placed in an indemnity escrow fund to be held for fifteen months after the acquisition date for general representations and warranties. The initial balance was included within total consideration transferred.

As of September 30, 2022 the total escrow liability remaining was $13.1 million and is included within current liabilities. No escrow liability was recorded as of December 31, 2021.

Other Noncurrent Liabilities

Other noncurrent liabilities consist of the following (in thousands):


	As of September 30,		As of December 31,
	2022		2021

Deposit liabilities	$	256	$	916
Other noncurrent liabilities	1,053		—
Operating lease liability	189		289
Total other noncurrent liabilities	$	1,498	$	1,205

Convertible Notes

9 Months Ended

Sep. 30, 2022

Debt Disclosure [Abstract]

Convertible Notes

In July 2021, the Company issued convertible notes (“July 2021 Convertible Notes”) to investors with an underlying principal amount of $2.1 million. The July 2021 Convertible Notes accrue simple interest at an annual rate of 4% and mature on July 1, 2026. The July 2021 Convertible Notes may be settled under the following scenarios at the option of the holder: (i) at any time into common shares equal to the conversion amount of outstanding principal and any accrued but unpaid interest divided by the conversion price of $11.96; (ii) at the option of the holder upon a liquidation event a) paid in cash equal to the outstanding principal and any accrued but unpaid interest or b) into common shares equal to the conversion amount of outstanding principal and any accrued but unpaid interest divided by the conversion price of $11.96; or (iii) upon maturity, settlement in cash at the outstanding accrued interest and principal amount.

Certain conversion and redemption features of the July 2021 Convertible Notes were determined to not be clearly and closely associated with the risk of the debt-type host instrument and were required to be separately accounted for as derivative financial instruments. The Company bifurcated these embedded conversion and redemption (“embedded derivatives”) features and classified these as liabilities measured at fair value. The fair value of the derivative liability of $0.7 million was recorded separate from the July 2021 Convertible Notes with an offsetting amount recorded as a debt discount. The debt discount is amortized over the estimated life of the debt using the straight-line method, as the value attributable to the July 2021 Convertible Notes was zero upon issuance.

As of September 30, 2022 the unamortized amount and net carrying value of the July 2021 Convertible Notes is $1.6 million and $0.5 million, respectively. The amount by which July 2021 Convertible Notes if-converted value does not exceed its principal is $(0.4) million as of September 30, 2022.

As of December 31, 2021 the unamortized amount and net carrying value of the July 2021 Convertible Notes is $1.9 million and $0.2 million, respectively. The amount by which July 2021 Convertible Notes if-converted value exceeds its principal is $1.6 million as of December 31, 2021.

In connection with the July 2021 Convertible Notes, the Company issued warrants to purchase 88,213 shares of the Company’s common stock with an exercise price of $0.01 per share and a term of one year (Warrant Tranche 1), 44,106 shares of the Company’s common stock with an exercise price of $11.96 per share and a term of 5 years (Warrant Tranche 2), and 44,106 shares of the Company’s common stock which is exercisable starting twelve months from the issuance date with an exercise price of $11.96 per share and a term of 5 years (Warrant Tranche 3).

The fair value of the warrants was determined using the Black-Scholes option-pricing method, with the following assumptions:


	Warrants Tranche 1			Warrants Tranche 2			Warrants Tranche 3
Fair market value of common stock	$	15.36		$	15.36		$	15.36
Expected dividend yield	0		%	0		%	0		%
Risk-free interest rate	0.09		%	0.89		%	0.89		%
Expected volatility	52.00		%	47.40		%	47.40		%
Expected term (in years)	1			5			5

The warrants were recorded to additional paid-in capital during the year ended December 31, 2021. The relative fair value of the warrants issued in connection with the July 2021 Convertible Notes was $0.8 million and was recorded as a debt discount that is being amortized to interest expense under the straight-line method over the term of respective convertible notes.

As a result of the beneficial conversion feature associated with the July 2021 Convertible Notes, $0.6 million was added to additional paid-in capital during the year ended December 31, 2021. The beneficial conversion feature was recorded as a debt discount and is being amortized to interest expense under the straight-line method over the term of the respective notes.

The Company recognized a total of $0.1 million and $0.3 million in non-cash interest expense related to the July 2021 Convertible Notes for the three and nine months ended September 30, 2022, respectively.

The Company has also issued convertible notes, September 2021 Convertible Notes, in connection with an acquisition. Refer to Note 7 “Business Combinations” for further details.

Convertible notes, current and noncurrent consist of the following (in thousands):


	As of September 30,		As of December 31,
	2022		2021

Convertible notes, current:
September 2021 Convertible Notes	$	3,405	$	4,160
Revesting Notes	49		62
Convertible notes, noncurrent:
July 2021 Convertible Notes	529		213
September 2021 Convertible Notes	3,356		7,947
Revesting Notes	24		124
Total convertible notes	$	7,363	$	12,506

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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Derivative Liability	9 Months Ended
Derivative Liability	Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Liability	Derivative Liability The Company’s derivative liability represents embedded share-settled redemption features bifurcated from its July 2021 Convertible Notes and is carried at fair value. The changes in the fair value of the derivative liability are recorded in other income (expense), net of the Company’s condensed consolidated statements of operations and comprehensive loss. Estimating fair values of derivative financial instruments requires the development of significant and subjective estimates that may, and are likely to, change over the duration of the instrument with related changes in internal and external market factors. Since derivative financial instruments are initially and subsequently carried at fair value, the Company’s income will reflect the volatility in these estimate and assumption changes. The features embedded in the July 2021 Convertible Notes are combined into one compound embedded derivative. The fair value of the embedded derivative was estimated based on the present value of the redemption discount applied to the principal amount of the July 2021 Convertible Notes adjusted to reflect the weighted probability of exercise. The discount rate was based on the risk-free interest rate. Upon the issuance of the convertible notes, the Company recorded a derivative liability of $0.7 million at fair value using inputs classified as Level 3 in the fair value hierarchy. As of September 30, 2022, the fair value of the derivative liability was $0.2 million. Refer to Note 6 “Fair Value Measurements” for further details.

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Purchase Commitments The Company has certain commitments from outstanding purchase orders primarily related to technology support, facilities, marketing and branding and professional services. These agreements, which total $17.1 million as of September 30, 2022 and $11.0 million as of December 31, 2021, are cancellable at any time with the Company required to pay all costs incurred through the cancellation date. Contingencies From time to time, the Company may have certain contingent liabilities that arise in the ordinary course of business activities. The Company accrues a liability for such matters when it is probable that future expenditures will be made, and such expenditures can be reasonably estimated. The Company is not subject to any current pending legal matters or claims that would have a material adverse effect on its financial position, results of operations or cash flows. Indemnification The Company enters into standard indemnification agreements in the ordinary course of business. Pursuant to these arrangements, the Company indemnifies, holds harmless, and agrees to reimburse the indemnified parties for losses suffered or incurred by the indemnified party, in connection with any trade secret, copyright, patent or other intellectual property infringement claim by any third party with respect to its technology. The term of these indemnification agreements is generally perpetual after the execution of the agreement. The maximum potential amount of future payments the Company could be required to make under these agreements is not determinable because it involves claims that may be made against the Company in the future but have not yet been made. The Company has not incurred costs to defend lawsuits or settle claims related to these indemnification agreements. The Company has entered into indemnification agreements with its directors and officers that may require the Company to indemnify its directors and officers against liabilities that may arise by reason of their status or service as directors or officers, other than liabilities arising from willful misconduct of the individual. No amounts associated with such indemnifications have been recorded to date. Litigation On March 12, 2019, a former alleged competitor of Tile, Cellwitch, Inc, filed a patent infringement claim against the Company in the US District Court, Northern District of California (“Court”), seeking permanent injunction and damages. On May 2, 2019, the Company filed a motion to dismiss the case. The plaintiff amended its complaint on May 16, 2019, and the Company filed a renewed motion to dismiss the amended complaint on May 30, 2019. On November 21, 2019, the Court issued an order denying Tile’s motion to dismiss the case but finding the underlying patent to be directed to an abstract idea. On December 18, 2019, Tile filed an inter partes review petition with the Patent Trial and Appeal Board (“PTAB”) challenging the validity of the patent. On May 13, 2021, the PTAB issued a Final Written Decision on Tile’s inter partes review petition (the “Final Written Decision”), which both parties appealed. The Final Written Decision was affirmed by the U.S. Court of Appeals for the Federal Circuit on May 13, 2022. The case is currently in the Court with discovery stayed while a motion for reconsideration of Tile's original motion to dismiss is pending. Separately, another alleged former competitor of Tile, Linquet Technologies, sued Tile in the Court for patent infringement on July 27, 2020, seeking permanent injunction and damages. On November 17, 2021, the PTAB granted Tile’s petition for inter partes review as to all claims of the Linquet patent which is currently pending. On July 18, 2022, the Court granted Tile’s motion to dismiss the underlying case in its entirety without leave to amend, after which Linquet filed a notice of appeal, which was subsequently voluntarily dismissed by Linquet. The Company is unable to predict the outcome of the above matters or estimate the range of possible loss, if any. Although the proceedings are subject to uncertainties inherent in the litigation process and the ultimate disposition of these proceedings is not presently determinable, the Company intends to vigorously defend the matters.

Common Stock

9 Months Ended

Sep. 30, 2022

Equity [Abstract]

Common Stock

As of September 30, 2022 and December 31, 2021, the Company was authorized to issue up to 100,000,000 shares of par value $0.001 per share common stock.

As of September 30, 2022 and December 31, 2021, the Company had 108,592 shares of common stock subject to the Company’s right to repurchase.

The Company has also issued shares of common stock as a result of stock option exercises throughout its existence. Common stockholders are entitled to dividends when and if declared by the Board of Directors subject to the prior rights of the preferred stockholders. The holder of each share of common stock is entitled to one vote. The common stockholders voting as a class are entitled to elect three members to the Company’s Board of Directors. No dividends have been declared in the Company’s existence.

The Company has reserved shares of common stock, on an as if converted basis, for issuance as follows:


	As of September 30,	As of December 31,
	2022	2021

Issuances under stock incentive plan	8,249,031	6,972,376
Issuances upon exercise of common stock warrants	137,658	272,001
Issuances upon vesting of restricted stock units	6,422,809	2,523,122
Issuances of convertible notes	516,758	686,926
Shares reserved for shares available to be granted but not granted yet	995,072	4,071,403
	16,321,328	14,525,828

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 16
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
-Paragraph 6
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126731327&loc=SL126733271-114008

Share-Based Payment Arrangement [Abstract]

Warrants	9 Months Ended
Warrants	Sep. 30, 2022
Other Liabilities Disclosure [Abstract]
Warrants	Warrants As of September 30, 2022 and December 31, 2021, the Company had outstanding warrants to purchase 137,658 and 272,001 shares of Company common stock, respectively with exercise prices ranging from $0.01 to $11.96 and expiry dates ranging from 2022 to 2028. Refer to Note 9 “Convertible Notes” for further details.

Equity Incentive Plan

9 Months Ended

Sep. 30, 2022

Equity Incentive Plan

2011 Equity Incentive Plan

The Company’s 2011 Stock Plan was originally adopted by our Board of Directors on July 27, 2011 and our stockholders on October 11, 2011, and most recently amended by our Board on September 7, 2018 and our stockholders (as restated, the “Plan”). The Plan allows us to grant restricted stock units, restricted stock and stock options to employees and consultants of the Company and any of the Company’s parent, subsidiaries, or affiliates, and to the members of our Board of Directors. Options granted under the Plan may be either incentive stock options or nonqualified stock options. Incentive stock options, or ISOs, may be granted only to employees of the Company or any of the Company’s parent or subsidiaries (including officers and directors who are also employees). Nonqualified stock options, or NSOs, may be granted to any person eligible for grants under our Plan.

Under the Plan, the Board of Directors determines the per share exercise price of each stock option, which for ISOs shall not be less than 100% of the fair market value of a share on the date of grant; provided that the exercise price of an ISO granted to a stockholder who at the time of grant owns stock representing more than 10% of the voting power of all classes of stock (a “10% stockholder”) shall not be less than 110% of the fair market value of a share on the date of grant.

The Board of Directors determines the period over which options vest and become exercisable. Options granted to new employees generally vest over a 4-year period: 25% of the shares vest on the first anniversary from the vesting commencement date of the option and an additional 1/48th of the shares vest on each monthly anniversary thereafter, subject to the employee’s continuous service through each vesting date. Options granted to continuing employees generally vest monthly over a 4-year period.

The Board of Directors also determines the term of options, provided the maximum term for ISOs granted to a 10% stockholder must be no longer than 5 years from date of grant and the maximum term for all other options must be no longer than 10 years from date of grant. If an option holder’s service terminates, options generally terminate 3 months from the date of termination except under certain circumstances such as death or disability.

The following summary of stock option activity for the periods presented is as follows:


	Number of Shares Underlying Outstanding Options	Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Life (in Years)	Aggregate Intrinsic Value
Balance as of December 31, 2021	6,972,376	$	5.61	6.71	$	108,426
Options granted	1,908,934	11.93
Options exercised	(393,378)	5.00
Options cancelled/forfeited	(238,901)	7.26
Balance as of September 30, 2022	8,249,031	7.05		5.84	29,859
Exercisable as of September 30, 2022	5,357,424	$	4.81	5.68	$	26,823

As of September 30, 2022, the Company had 27,294,447 shares authorized for issuance and 995,072 shares available for issuance under the Plan. Stock options granted during the nine months ended September 30, 2022 had a weighted average grant date fair value of $8.33 per share.

The intrinsic values of outstanding, vested, and exercisable options were determined by multiplying the number of shares by the difference in exercise price of the options and the fair value of the common stock as of September 30, 2022 of $9.51 per share, respectively. The intrinsic value of the options exercised represents the difference between the exercise price and the fair market value on the date of exercise.

The following summary of Restricted Stock Units (RSU) activity for the periods presented is as follows:


	Number of Shares	Weighted average grant date fair value
Balance as of December 31, 2021	2,523,122	$	11.53
RSU granted	6,351,009	11.76
RSU vested and settled	(810,008)	9.43
RSU cancelled/forfeited	(1,641,314)	13.78
Balance as of September 30, 2022	6,422,809	$	11.40

The number of RSUs vested and settled includes shares of common stock that the Company withheld on behalf of employees to satisfy the minimum statutory tax withholding requirements.

Stock Options Granted to Employees

The fair value of the employee stock options granted is estimated using the Black-Scholes option-pricing model, based on the following assumptions:


	Nine Months Ended September 30,		Year Ended December 31,
	2022		2021

Expected terms (in years)	3.87		4.24
Expected volatility	65	%	49	%
Risk-free interest rate	2.22	%	0.68	%
Expected dividend rate	0	%	0	%

Fair Value of Common Stock: As the Company’s stock is traded on the public market, the fair value on the date of the grant is used.

Expected Term: The expected term for employees is based on the simplified method, as the Company’s stock options have the following characteristics: (i) granted at-the-money; (ii) exercisability is conditional upon service through the vesting date; (iii) termination of service prior to vesting results in forfeiture; (iv) limited exercise period following termination of service; and (v) options are non-transferable and non-hedgeable, or “plain vanilla” options, and the Company has limited history of exercise data. The expected term for non-employees is based on the remaining contractual term.

Expected Volatility: As the Company has limited historical trading data regarding the volatility of its common stock, the expected volatility is based on volatility of a Company of similar entities and the Company’s trading data since IPO. In evaluating similarity, the Company considered factors such as industry, stage of life cycle and size. The Company will continue to analyze the historical stock price volatility and expected term assumptions as more historical data for the Company’s common stock becomes available.

Risk-Free Interest Rate: The risk-free interest rate is based on U.S. Treasury constant maturity rates with remaining terms similar to the expected term of the options.

Expected Dividend Rate: The Company has never paid any dividends and does not plan to pay dividends in the foreseeable future, and, therefore, an expected dividend rate of zero is used in the valuation model.

Forfeitures: The Company accounts for forfeitures as they occur.

Equity Awards Issued in Connection with Business Combinations

Jio, Inc.

In connection with the Jiobit transaction in September 2021, the Company issued 91,217 shares of restricted common stock with an aggregate fair value of $1.9 million to be recognized as post combination stock-based compensation ratably with continuous employment of certain employees over a 3 year period.

As of September 30, 2022, there was $0.2 million of unrecognized compensation expense related to the restricted common stock which is expected to be recognized over the remaining weighted average life of 1.9 years. As of December 31, 2021, there was $1.7 million of unrecognized compensation expense related to this restricted common stock which is expected to be recognized over the remaining weighted average life of 2.7 years.

Additionally, the Company granted 43,083 service-based stock options under the Plan to certain Jiobit employees with an aggregate fair value of $0.5 million which vests ratably over the requisite service period. As of September 30, 2022, there was $0.2 million of unrecognized compensation expense related to unvested assumed stock options, which is expected to be recognized over the remaining weighted average life of 2.1 years. As of December 31, 2021, there was $0.5 million of unrecognized compensation expense related to unvested assumed stock options, which is expected to be recognized over the remaining weighted average life of 2.0 years.

Tile, Inc.

In connection with the Tile transaction in January 2022, the Company issued 1,499,349 shares of retention restricted stock units with an aggregate fair value of $29.6 million. Of the 1,499,349 shares of retention restricted stock units, 787,446 shares valued at $15.6 million contained performance vesting criteria based on the achievement of certain company milestones during the three months ended March 31, 2022, and vest over a two year period. As of March 31, 2022, the vesting criteria had not been met and all 787,446 restricted stock units were forfeited. The remaining 711,903 retention restricted stock units vest over a two to four year period. As of September 30, 2022, there was $6.9 million of unrecognized compensation expense related to the retention restricted stock units which is expected to be recognized over the remaining weighted average life of 1.7 years.

The Company also issued 38,730 vested common stock options to Tile employees as stock-based compensation on the acquisition date. The aggregate fair value of $0.4 million was recognized as compensation expense on the date of acquisition.

A total of 694,672 shares of common stock with an aggregate fair value of $13.7 million were issued to Tile shareholders as part of purchase consideration. All $13.7 million was expensed on the date of acquisition.

A total of 1,561 shares of common stock with an aggregate fair value of $30.0 thousand were issued to a key employee the vesting of which is subject to continued employment over a 30-month period. As of September 30, 2022, there was $81.1 thousand of unrecognized compensation expense related to unvested restricted stock units which is expected to be recognized over the remaining 1.8 years.

A total of 84,360 shares of common stock were issued as part of consideration transferred and were placed in an indemnity escrow fund to be held for fifteen months after the acquisition date for general representations and warranties. The aggregate fair value of $1.7 million was recognized as compensation expense on the date of the acquisition.

Stock-Based Compensation

Stock-based compensation expense was allocated as follows (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021

Cost of revenue
Subscription costs	$	117	$	97	$	553	$	301
Hardware costs	127		—		409		—
Other costs	67		16		170		52
Total cost of revenue	$	311	$	113	$	1,132	$	353
Research and development	4,222		2,164		13,133		5,448
Sales and marketing	935		174		3,106		464
General and administrative	2,495		809		7,116		2,135
Total stock-based compensation expense	$	7,963	$	3,260	$	24,487	$	8,400

As of September 30, 2022, there was total unrecognized compensation cost for outstanding stock options of $10.9 million to be recognized over a period of approximately 3.0 years. As of December 31, 2021, there was total unrecognized compensation cost for outstanding stock options of $7.0 million to be recognized over a period of approximately 2.6 years.

As of September 30, 2022, there was unrecognized compensation cost for outstanding restricted stock units of $51.9 million to be recognized over a period of approximately 2.7 years. As of December 31, 2021, there was unrecognized compensation cost for outstanding restricted stock units of $26.6 million to be recognized over a period of approximately 3.2 years.

There were no capitalized stock-based compensation costs or recognized stock-based compensation tax benefits during the year ended December 31, 2021 or the three and nine months ended September 30, 2022.

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The provision for income taxes for interim periods is determined using an estimated annual effective tax rate in accordance with ASC 740-270, Income Taxes, Interim Reporting. The effective tax rate may be subject to fluctuations during the year as new information is obtained, which may affect the assumptions used to estimate the annual effective tax rate, including factors such as valuation allowances against deferred tax assets, the recognition or de-recognition of tax benefits related to uncertain tax positions, if any, and changes in or the interpretation of tax laws in jurisdictions where the Company conducts business. The Company recorded a provision (benefit) for incomes taxes of $73.0 thousand and $84.0 thousand for the three and nine months ended September 30, 2022, respectively. In accordance with ASC 805, a change in the acquirer’s valuation allowance that stems from a business combination should be recognized as an element of the acquirer’s income tax expense or benefit in the period of acquisition. Accordingly, in the three and nine months ended September 30, 2022, the Company recorded a provisional $0 and $96.0 thousand partial release of its valuation allowance and a corresponding income tax benefit stemming from the Tile acquisition, respectively. The benefit was offset by a $180.0 thousand income tax expense for state and foreign income taxes. The Company recorded a provision (benefit) for incomes taxes of $(144.4) thousand for the three and nine months ended September 30, 2021, respectively. In accordance with ASC 805, a change in the acquirer’s valuation allowance that stems from a business combination should be recognized as an element of the acquirer’s income tax expense or benefit in the period of acquisition. Accordingly, in the three and nine months ended September 30, 2021, the Company recorded a provisional $211.2 thousand partial release of its valuation allowance and a corresponding income tax benefit stemming from the Jiobit acquisition, respectively. The benefit was offset by a $66.8 thousand income tax expense for state and foreign income taxes. On August 16, 2022, the Inflation Reduction Act of 2022 (IRA) was signed into law and is effective for taxable years beginning after December 31, 2022. The IRA includes multiple incentives to promote clean energy with tax provisions primarily focused on implementing a 15% minimum tax on global adjusted financial statement income and a 1% excise tax on share repurchases. These measures may affect our condensed consolidated financial statements and we will continue to evaluate the applicability and effect of the IRA as more guidance is issued.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 740
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-Section 50
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Channel and retail partners who represented greater than 10% of revenue or accounts receivable

Related-Party Transactions	9 Months Ended
Related-Party Transactions	Sep. 30, 2022
Related Party Transactions [Abstract]
Related-Party Transactions	Related-Party Transactions The Company has entered into secondary financing transactions and other transactions with certain executive officers and Board members of the Company. A summary of the transactions is detailed below: Notes Due From Affiliates (Contra Equity) In February 2016, the Company issued an aggregate of $0.6 million in secured partial recourse promissory notes (“partially secured loan”) to the Chief Executive Officer, Non-Executive Director (Previously President), Chief Operating Officer and another executive of the Company. The Company accounted for the 2016 partially secured loan as consideration received for the exercise of the related equity award, because even after the original options are exercised or the shares are purchased, an employee could decide not to repay the loan if the value of the shares declines below the outstanding loan amount and could instead choose to return the shares in satisfaction of the loan. The result would be similar to an employee electing not to exercise an option whose exercise price exceeds the current share price. When shares are exchanged for a partially secured loan, the principal and interest are viewed as part of the exercise price of the “option” and no interest income is recognized. Additionally, compensation cost is recognized over any requisite service period, with an offsetting credit to additional paid-in capital. Periodic principal and interest payments, if any, are treated as deposit liabilities until the note is paid off, at which time, the note balance is settled and the deposit liability balance is transferred to additional paid-in capital. During the three months ended June 30, 2022, the Company received proceeds from the repayment of the partially secured loans of $0.6 million. As of September 30, 2022 and December 31, 2021, the Company had deposit liability balances of $0.3 million and $0.7 million, respectively, in connection with the 2016 partially secured loan and other early exercises of equity awards. Principal amounts due under the 2016 partially secured loan are included in Notes Due From Affiliates as a reduction in stockholders’ equity on the condensed consolidated balance sheets. Other Related Party Transactions Non-executive director, James Synge, is a Principal and Partner of Carthona Capital. During the year ended December 31, 2021, the Company entered into a consultancy agreement with Carthona Capital. Under this agreement, Carthona Capital agreed to provide consultancy services to the Company in relation to capital raising matters. During the three months ended March 31, 2022, Mr. Synge received consideration of $0.1 million. Annika Hulls is the spouse of the CEO and Executive Director, Chris Hulls. During the three months ended March 31, 2022, a cash payment of $6.5 thousand was paid to Annika Hulls for services relating to a marketing campaign.

Defined Contribution Plan	9 Months Ended
Defined Contribution Plan	Sep. 30, 2022
Retirement Benefits [Abstract]
Defined Contribution Plan	Defined Contribution Plan The Company sponsors a defined contribution plan under Section 401(k) of the Internal Revenue Code covering substantially all employees over the age of 21 years. Contributions made by the Company are voluntary and are determined annually by the Board of Directors on an individual basis subject to the maximum allowable amount under federal tax regulations. The Company has made no contributions to the plan since its inception.

Net Loss Per Share

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

Net Loss Per Share

The following table sets forth the computation of basic and diluted net loss per share (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021

Net loss	$	(21,119)	$	(8,014)	$	(79,326)	$	(18,670)
Weighted-average shares used in computing net loss per share, basic and diluted	62,174		51,217		61,754		50,608
Net loss per share, basic and diluted	$	(0.34)	$	(0.16)	$	(1.28)	$	(0.37)

The potential shares of common stock that were excluded from the computation of diluted net loss per share for the periods presented because including them would have been antidilutive are as follows:


	As of September 30,	As of December 31,
	2022	2021

Issuances under stock incentive plan	8,249,031	6,972,376
Issuances upon exercise of common stock warrants	137,658	272,001
Issuances upon vesting of restricted stock units	6,422,809	2,523,122
Issuances of convertible notes	516,758	686,926
Shares reserved for shares available to be granted but not granted yet	995,072	4,071,403
	16,321,328	14,525,828

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	The unaudited condensed consolidated financial statements and accompanying notes have been prepared in accordance with generally accepted accounting principles in the United States, or (“GAAP”), are presented in U.S. dollars unless otherwise stated, and include the accounts of Life360, Inc. and subsidiaries, Jio, Inc., Tile, Inc., Tile Europe Ltd and Tile Network Canada ULC. All inter-company transactions and balances have been eliminated.
Consolidation	The unaudited condensed consolidated financial statements and accompanying notes have been prepared in accordance with generally accepted accounting principles in the United States, or (“GAAP”), are presented in U.S. dollars unless otherwise stated, and include the accounts of Life360, Inc. and subsidiaries, Jio, Inc., Tile, Inc., Tile Europe Ltd and Tile Network Canada ULC. All inter-company transactions and balances have been eliminated.
Use of Estimates	Use of Estimates The preparation of condensed 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 condensed consolidated financial statements and the reported amount of revenue and expenses during the reporting period. Significant estimates made by management include, but are not limited to, the determination of revenue recognition, including the determination of selling prices for distinct performance obligations sold in multiple-performance obligation arrangements, the period over which revenue is recognized for certain arrangements, and estimated delivery dates for orders with title transfer upon delivery, accounts receivable allowance, product returns, promotional and marketing allowances, inventory valuation, average useful customer life, stock-based compensation, legal contingencies, assessment of possible impairment of long-lived assets and goodwill, valuation of contingent consideration, convertible notes and embedded derivatives, useful lives of long lived assets and income taxes including valuation allowances on deferred tax assets. The Company bases its estimates and judgments on historical experience and on various assumptions that it believes are reasonable under the circumstances. Actual results could differ significantly from those estimates.
Recently adopted accounting pronouncements and Accounting pronouncements not yet adopted	Recently adopted accounting pronouncements In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805), Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires contract assets and contract liabilities (i.e., deferred revenue) acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with ASC 606, Revenue from Contracts with Customers. The guidance should be applied prospectively to acquisitions occurring on or after the effective date. The guidance is effective for the Company beginning January 1, 2024, and interim periods therein. Early adoption is permitted, including in interim periods, for any financial statements that have not yet been issued. The Company elected to early adopt ASU 2021-08 on September 1, 2021, and the Company has recorded the acquired deferred revenue based on historical carrying value rather than fair value in the condensed consolidated financial statements and related disclosures. In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes (“ASU 2019-12”), as part of its initiative to reduce complexity in accounting standards. ASU 2019-12 removes the following exceptions: exception to the incremental approach for intraperiod tax allocation; exception to accounting for basis differences when there are ownership changes in foreign investments; and exception to interim period tax accounting for year-to-date losses that exceed anticipated losses. ASU 2019-12 also improves financial reporting for franchise taxes that are partially based on income; transactions with a government that result in a step up in the tax basis of goodwill; separate financial statements of legal entities that are not subject to tax; and enacted changes in tax laws in interim periods. ASU 2019-12 is effective for public business entities in fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. For all other entities, the standard is effective in fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. Early adoption of the standard is permitted, including adoption in interim or annual periods for which financial statements have not yet been issued. On January 1, 2021, the Company adopted ASU 2019-12, and the standard did not have a material impact on its condensed consolidated financial statements and related disclosures. Accounting pronouncements not yet adopted In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments, which changes the existing incurred loss impairment model for financial assets held at amortized cost. The new model uses a forward-looking expected loss method to calculate credit loss estimates. These changes will result in earlier recognition of credit losses. In March 2022, the FASB issued ASU 2022-02, Financial Instruments – Credit Losses: Troubled Debt Restructurings and Vintage Disclosures, which updates accounting guidance for troubled debt restructurings by creditors and enhances disclosure requirements for certain loan refinancing and restructurings by creditors when a borrower is experiencing financial difficulty. Additionally, the amendments require an entity to disclose gross write-offs by year of origination for financing receivables. The amendments included within ASU 2022-02 become effective after the adoption of ASU 2016-13, which becomes effective for the Company on January 1, 2023 with early adoption permitted. The Company is currently evaluating the impact of the adoption of ASU 2016-13 and ASU 2022-02 on its condensed consolidated financial statements and related disclosures and does not expect a material impact. In August 2020, the FASB issued ASU No. 2020-06, Debt-Debt with Conversion and Other Options (Subtopic 470-20) which simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts in an entity’s own equity. Among other changes, ASU 2020-06 removes from GAAP the liability and equity separation model for convertible instruments with a cash conversion feature, and as a result, after adoption, entities will no longer separately present in equity an embedded conversion feature for such debt. Similarly, the embedded conversion feature will no longer be amortized into income as interest expense over the life of the instrument. Instead, entities will account for a convertible debt instrument wholly as debt unless (1) a convertible instrument contains features that require bifurcation as a derivative under ASC Topic 815, Derivatives and Hedging, or (2) a convertible debt instrument was issued at a substantial premium. Additionally, ASU 2020-06 requires the application of the if-converted method to calculate the impact of convertible instruments on diluted earnings per share, which will result in increased dilutive securities as the assumption of cash settlement of the notes will not be available for the purpose of calculating earnings per share. The provisions of ASU 2020-06 are effective for reporting periods beginning after December 15, 2023, with early adoption permitted for reporting periods beginning after December 15, 2020 and can be adopted on either a fully retrospective or modified retrospective basis. The Company is currently evaluating the timing, method of adoption, and overall impact of this standard on its condensed consolidated financial statements.
Revenue Recognition, Remaining Performance Obligations, Cost of Revenue and Deferred Revenue	Revenue Recognition The Company recognizes revenue upon transfer of control of promised goods or services to customers at transaction price, an amount that reflects the consideration the Company expects to receive in exchange for those goods or services. Transaction price is calculated as selling price net of variable consideration which may include estimates for future returns and sales incentives related to current period revenue. The Company determines revenue recognition through the following steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the Company satisfies a performance obligation. The Company only applies the five-step model to contracts when it is probable that the Company will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. Performance Obligations Some of the Company’s contracts with customers contain multiple performance obligations, primarily hardware and subscription services for the Tile and Jiobit hardware tracking devices. For these contracts, the Company accounts for individual performance obligations separately if they are distinct. The transaction price is allocated to the separate performance obligations on a relative stand-alone selling price (“SSP”) basis with the amounts allocated to ongoing services deferred and recognized over a period of time and amounts allocated to hardware tracking devices recognized at a point-in time with a portion of the consideration being allocated to application usage (maintenance) and support. The Company determines SSP based on observable, if available, prices for those related goods and services when sold separately. When such observable prices are not available, the Company determines SSP based on multiple factors including consumer behaviors, the Company’s internal pricing model, and relative costs incurred plus a normal margin. The factors may vary depending upon the facts and circumstances related to each deliverable. For hardware products, the Company generally offers a limited warranty to end-users covering a period of twelve months for products and obligates the Company to repair or replace products for manufacturing defects or hardware component failures. The warranty is not sold separately and does not represent a separate performance obligation. Therefore, such warranties are accounted for under ASC 460, Guarantees, and the estimated costs of warranty claims are generally accrued as cost of revenue in the period the related revenue is recorded. See Note 11 “Commitments and Contingencies” for further details. Variable Consideration The Company recognizes hardware revenue at the net sales price, which includes certain estimates for variable consideration with our customers. The Company’s variable consideration is primarily in the form of promotional agreements and marketing development fund agreements in relation to the hardware tracking devices. These agreements are designed to enhance the sale of the Company’s products and consist of incentives to the Company’s customers. The Company estimates variable considerations using the expected value method. All forms of variable consideration are recorded as contra-revenue and a corresponding liability in its condensed consolidated balance sheet. Certain agreements are estimates at period end due to the nature of the incentives or expected and yet-to-be announced incentive programs that apply to current period revenue transactions. These estimates are based on the Company’s incentive program experience, historical and projected sales data and current contractual terms. The remaining portion of this liability is based on contractual amounts and does not require estimation. Subscription Revenue The Company’s subscription revenue includes related support and is comprised of Life360 mobile application subscriptions as well as subscription service plans for the Tile and Jiobit hardware tracking devices. The Company’s subscription contracts with customers are established at the point of mobile application download and purchase as indicated through acceptance of the Company’s Terms of Use. The cloud-based subscriptions are considered single combined performance obligations, consisting of multiple features that can be purchased separately, but which are bundled together and delivered to the customer as a combined output. The Company provides its customers with technical support along with unspecified updates and upgrades to the platform on an if and when available basis. The subscription service plan for the Tile and Jiobit hardware tracking device is a distinct and separate performance obligation from the hardware. Subscription fees are fixed and recognized on a straight-line basis over the non-cancellable contractual term of the agreement, generally beginning on the date that the Company’s service is made available to the customer. Subscription revenue was $39.0 million and $23.1 million for the three months ended September 30, 2022 and 2021, respectively, and $107.9 million and $59.5 million for the nine months ended September 30, 2022 and 2021, respectively. Hardware Revenue The Company derives hardware revenue from sale of the Tile and Jiobit hardware tracking devices and related accessories. For hardware and accessories, revenue is recognized at the time products are delivered. The Company offers limited rights of return and estimates reserves based on historical experience and records the reserves as a reduction of revenue and an accrued liability. Amounts billed to customers for shipping and handling are classified as revenue, and the Company’s related shipping and handling costs incurred are classified as cost of revenue. The customers are billed upon shipment of the hardware tracking devices. Sales taxes collected from customers and remitted to respective governmental authorities are recorded as liabilities and are not included in revenue. The Company’s hardware and the embedded operating system are one distinct performance obligation and separate from the subscription service plans for the Tile and Jiobit hardware tracking device. The Company’s embedded operating system is a component of the hardware that is integral to the functionality of the hardware and only together produce the essential functionality of the hardware. The Company offers extended warranties and hardware protection plans that are recognized over the contractual service period (typically 1 to 2 years). Hardware revenue was $11.7 million and $38 thousand for the three months ended September 30, 2022 and 2021, respectively, and $28.3 million and $38 thousand for the nine months ended September 30, 2022 and 2021, respectively. Other Revenue Other revenue consists primarily of data revenue and partnership revenue. For the nine months ended September 30, 2022, the Company’s data revenue includes Life360 data monetization arrangements with certain third parties established through Data Master Service Agreements (collectively, “Data MSAs”), which outline specific terms governing the access and use of data and related fees. The Company determines a contract to exist upon the mutual execution of a Data MSA. Those customers historically had ability to access certain portions of the Company’s user data over the contract term, in which certain customers pay a fee based on average active monthly users. Most of the Company’s Data MSAs have been terminated as of September 30, 2022 as the Company has moved toward an aggregate data sales model. The transaction price is determined based on the consideration to which the Company expects to be entitled in exchange for transferring data to the customer. The Company estimates and includes variable consideration in the transaction price at contract inception to the extent it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. In estimating variable consideration in data arrangements, the Company considers historical experience and other external factors that may impact the expectation of future data usage. At each reporting period, the Company assesses actual and expected data usage that will be earned for the duration of the contract term. The payment terms for Data MSAs are monthly. The Company recognizes fees for certain data arrangements over time based on the fee per average active monthly user as the customer simultaneously receives and consumes the benefit of the services that the Company provides over the term of the agreement. In January 2022, Life360 announced a new partnership agreement with Placer.ai (“Placer”), a prominent provider of aggregated analytics for the retail ecosystem, in which executives of the Company have an immaterial ownership interest through a passive investment vehicle. As part of this partnership, Placer will provide data processing and analytics services to Life360 and will have the right to commercialize aggregated data related to place visits during the term of the agreement. This partnership marked the beginning of Life360’s exit from its legacy data sales model and transition to commercialize solely aggregated data, while still providing members the option to opt out of even aggregated data sales. In keeping with the Company’s vision and consistent with that aggregated data sales model, the Company is exploring ways, in the future, to enable members to avail themselves of compelling offers and opportunities by enabling Company partners to use their data with members’ explicit, affirmative opt-in consent. The Placer agreement includes fixed monthly revenue amounts for access to aggregated data for the duration of the three-year agreement. The Company has a stand ready obligation to provide aggregated user data over the term of the agreement and recognizes revenue ratably based on the fixed monthly amounts. The Company estimates and includes variable consideration in the transaction price at contract inception to the extent it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. In connection with the agreement, Placer issued the Company a warrant to purchase up to 5,100,167 shares of Series C Preferred Stock at an exercise price of $4.90 per share. The grant of the warrant is considered noncash consideration, which the Company measured at fair value on the date of issuance. The warrant was valued using an option pricing model, and the fair value of approximately $5.4 million has been included as part of the transaction price of the Placer data partnership agreement, and will be included in prepaid expenses and other assets, noncurrent on the Company’s condensed consolidated balance sheets. Data revenue was $5.5 million and $5.0 million for the three months ended September 30, 2022 and 2021, respectively, and $17.7 million and $13.6 million for the nine months ended September 30, 2022 and 2021, respectively. Partnership revenue includes agreements with third parties to provide access to advertising on the Company’s mobile platform. The Company receives a percentage of the advertising spend as a fee, which is recognized as revenue on a net basis. The variable amounts earned under partnership revenue arrangements are allocable to the month in which the advertising is placed, which is reset on a monthly basis. As such, the Company will recognize revenue monthly based on the advertising placed. Partnership revenue was $1.0 million and $1.6 million for the three months ended September 30, 2022 and 2021, respectively, and $3.1 million and $4.6 million for the nine months ended September 30, 2022 and 2021, respectively. Remaining Performance Obligations Remaining performance obligations represent the amount of contracted future revenue not yet recognized as the amounts relate to undelivered performance obligations, including both deferred revenue and non-cancelable contracted amounts that will be invoiced and recognized as revenue in future periods. Revenue allocated to remaining performance obligations was $30.9 million as of September 30, 2022, of which the Company expects $27.9 million to be recognized over the next twelve months. Cost of Revenue Cost of subscription revenue includes all direct costs to deliver the Company’s subscription services. These costs include personnel-related costs associated with our cloud-based infrastructure and our customer support organization, third-party hosting fees, software, and maintenance costs, outside services associated with the delivery of our subscription services, personnel-related expenses, travel-related costs, amortization of acquired intangibles and allocated overhead, such as facilities, including rent, utilities, depreciation on equipment shared by all departments, credit card and transaction processing fees, and shared information technology costs. Personnel-related expenses include salaries, bonuses, benefits, and stock-based compensation for operations personnel. Cost of hardware revenue consists of product costs, including hardware production, contract manufacturers for production, shipping and handling, packaging, fulfillment, personnel-related expenses, manufacturing and equipment depreciation, warehousing, tariff costs, hosting, app fees, customer support costs, warranty replacement, and write-downs of excess and obsolete inventory. Personnel-related expenses include salaries, bonuses, benefits, and stock-based compensation for operations personnel. Cost of other revenue consists of cloud-based hosting costs, as well as costs of product operations function and employee-related costs associated with our data platform. Deferred Revenue Deferred revenue consists primarily of payments received and accounts receivable recorded in advance of revenue recognition under the Company’s subscription arrangements. The Company primarily invoices its customers for its subscription services arrangements in advance. Amounts anticipated to be recognized within one year of the balance sheet date are recorded as deferred revenue, current; the remaining portion is recorded as deferred revenue, noncurrent in the condensed consolidated balance sheets.
Costs Capitalized to Obtain Contracts	Costs Capitalized to Obtain Contracts Costs capitalized to obtain contracts comprise of revenue-share payments to the Company’s Channel Partners in connection with annual subscription sales of the Company’s mobile application on each respective mobile application store platform as well as sales commissions paid to employees on hardware sales. Costs that are incremental and directly related to new customer sales contracts are accrued and capitalized upon execution of a non-cancelable customer contract, and subsequently expensed over the average life of the customer relationship, which is currently estimated to be two to three years depending on the subscription type. The Company has elected the practical expedient under ASC 340-40 to expense incremental costs of obtaining a contract if the amortization periods is one year or less.
Allowance for Doubtful Accounts	Allowance for Doubtful Accounts The Company makes judgments as to its ability to collect outstanding accounts receivable and provide allowances for accounts receivable when and if collection becomes doubtful. The Company evaluates the collectability of its accounts receivable based on review of its past-due balances, known collection risks and historical experience. In circumstances where the Company is aware of a specific customer’s potential inability to meet its financial obligations to the Company (e.g., bankruptcy filings or substantial downgrading of credit ratings), the Company records a specific reserve for bad debt against amounts due to reduce the net recognized receivable to the amount it reasonably believes will be collected.
Inventory and Contract Manufacturing	Inventory and Contract Manufacturing Inventory is comprised of raw materials and finished goods related to the Tile and Jiobit hardware tracking devices and accessories. Inventory is stated at the lower of cost or net realizable value on a weighted average basis. The Company assesses the valuation of inventory and periodically writes down the value for estimated excess and obsolete inventory based upon estimates of future demand and market conditions. The Company’s inventory is held at third party warehouses and contract manufacturer premises. The Company outsources a significant portion of its manufacturing to independent contract manufacturers in Asia. A significant portion of its cost of revenue consists of inventory purchased from these manufacturers. The Company’s manufacturers procure components and manufacture the Company’s products based on the demand forecasts provided. These forecasts are based on estimates of future demand for the Company’s products, which are in turn based on historical trends and an analysis from the Company’s sales and marketing organizations, adjusted for overall market conditions. Shipments of inventory from the contract manufacturer are recorded as finished goods inventory upon shipment when title and the significant risks and reward of ownership have passed to the Company.
Significant Risks and Uncertainties	Significant Risks and Uncertainties The Company’s business, operations, and financial results are subject to various risks and uncertainties including adverse global economic conditions, such as the coronavirus (COVID-19) pandemic, and competition in our industry that could adversely affect our business, financial conditions, results of operations and cash flows. These important factors, among others, could cause our actual results to differ materially from any future results. The Company’s customers primarily consist of individual consumers, who subscribe to the Company’s product offerings through market exchanges operated by channel partners, data revenue customers and retail partners, who purchase hardware tracking devices from the Company and resell them directly to individual consumers. Any changes in customer preferences and trends or changes in terms of use of channel partners’ platforms could have an adverse impact on its results of operations and financial condition. The Company depends on the constant real-time performance, reliability and availability of our technology system and access to our partner’s networks. The Company primarily relies on a single technology partner for its cloud platform and a limited number of contract manufacturers to assemble components of the Jiobit and Tile hardware tracking devices. Any adverse impacts to the platform and the contract manufacturers could negatively impact our relationships with our partners or users and may adversely impact our business, financial performance, and reputation. The Company derives its accounts receivable from revenue earned from customers located in the United States and internationally. The Company does not perform ongoing credit evaluations of its customers’ financial condition and does not require collateral from its customers. Historically, bad debt expenses have been insignificant. Channel and retail partners account for the majority of the Company’s revenue and accounts receivable for all periods presented.
Research and Development Costs	Research and Development Costs The Company charges costs related to research, design, and development of products to research and development expense as incurred. These costs consist of payroll related expenses, contractor fees, outside third-party vendors, and allocated facilities costs.
Advertising Expense	Advertising Expense Advertising expense was $4.4 million and $1.9 million for the three months ended September 30, 2022 and 2021, respectively, and $13.4 million and $4.3 million for the nine months ended September 30, 2022 and 2021, respectively. Advertising expenses are recorded in the period in which cost is incurred and are presented within sales and marketing expense on the condensed consolidated statements of operations.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investment securities with remaining maturities at the date of purchase of three months or less to be cash equivalents. Cash and cash equivalents include deposit and money market funds.
Restricted Cash	Restricted Cash Deposits of $14.9 million and $0.4 million were restricted from withdrawal as of September 30, 2022 and December 31, 2021, respectively. $13.1 million of the restricted balance as of September 30, 2022 relates to funds placed in an indemnity escrow fund to be held for fifteen months after the acquisition date of Tile, Inc. for general representations and warranties. The remaining restricted cash balance as of September 30, 2022 relates to cash deposits restricted under letters of credit issued on behalf of the Company in support of indebtedness to trade creditors incurred in the ordinary course of business and to securing the Company’s facility leases. The $0.4 million balance restricted from withdrawal as of December 31, 2021 relates to facility lease agreements. These balances are included in restricted cash on the accompanying condensed consolidated balance sheets.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company uses fair value measurements to record fair value adjustments to certain financial and non-financial assets and liabilities to determine fair value disclosures. The accounting standards define fair value, establish a framework for measuring fair value, and require disclosures about fair value measurements. Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required to be recorded at fair value, the principal or most advantageous market in which the Company would transact are considered along with assumptions that market participants would use when pricing the asset or liability, such as inherent risk, transfer restrictions, and risk of nonperformance. The accounting standard for fair value establishes a fair value hierarchy based on three levels of inputs, the first two of which are considered observable and the last unobservable, that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels of Inputs that may be used to measure fair value are as follows: Level 1 – Observable inputs, such as quoted prices in active markets for identical assets or liabilities. Level 2 – Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 – Valuations based on unobservable inputs to the valuation methodology and including data about assumptions market participants would use in pricing the asset or liability based on the best information available under the circumstances. The recorded carrying amounts of cash and cash equivalents, prepaid expenses, accounts payable, and accounts receivable as of September 30, 2022 and December 31, 2021 approximate fair value due to their short-term nature.
Property and Equipment, net	Property and Equipment, net Property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation is computed using the straight-line method over the estimated useful lives of the respective assets. Equipment, computer software, furniture, and product manufacturing equipment have estimated useful lives ranging from three to ten years. Leasehold improvements are amortized on a straight-line basis over the lesser of the estimated useful life or the term of the lease with expected renewals. As of September 30, 2022, all leasehold improvements are amortized over three years. Costs of maintenance and repairs that do not improve or extend the lives of the respective assets are expensed as incurred. When assets are retired or otherwise disposed of, the cost and related accumulated depreciation are removed from the balance sheet and the resulting gain or loss is reported in other income (expense), net in the period realized.
Software Development Costs	Software Development Costs For development costs related to internal use software projects, the Company capitalizes costs incurred during the application development stage. Costs related to preliminary project activities and post implementation activities are expensed as incurred. Internal use software is amortized on a straight-line basis over its estimated useful life of three years. The Company capitalized $0.7 million during the nine months ended September 30, 2022. Capitalized costs are included within intangible assets, net on the condensed consolidated balance sheet. The Company did not capitalize any internal use software costs during the nine months ended September 30, 2021 as the capitalizable costs were not material.
Lease Obligations	Lease Obligations Operating lease right-of-use assets and lease liabilities are recognized at the present value of the future lease payments at commencement date. The interest rate implicit in the Company’s operating leases is not readily determinable, and therefore an incremental borrowing rate is estimated to determine the present value of future payments. The estimated incremental borrowing rate factors in a hypothetical interest rate on a collateralized basis with similar terms, payments, and economic environments. Operating lease right-of-use assets also include any prepaid lease payments and lease incentives. Certain operating lease agreements contain rent concession, rent escalation, and option to renew provisions. Rent concession and rent escalation provisions are considered in determining the straight-line single lease cost to be recorded over the lease term. Single lease cost is recognized on a straight-line basis over the lease term commencing on the date the Company has the right to use the leased property. The lease terms may include options to extend or terminate the lease. The Company generally uses the base, non-cancellable, lease term when recognizing the lease assets and liabilities, unless it is reasonably certain that the renewal option will be exercised. In addition, certain of the Company’s operating lease agreements contain tenant improvement allowances from its landlords. These allowances are accounted for as lease incentives and decrease the Company’s right-of-use asset and reduce single lease cost over the lease term.
Business Combinations	Business Combinations The Company uses best estimates and assumptions to assign a fair value to the tangible and intangible assets acquired and liabilities assumed in business combinations as of the acquisition date. These estimates are inherently uncertain and subject to refinement. During the measurement period, which may be up to one year from the acquisition date, adjustments to the fair value of these tangible and intangible assets acquired and liabilities assumed may be recorded, with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the fair value of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the Company’s condensed consolidated statements of operations.
Goodwill	Goodwill Goodwill represents the excess of the purchase price in a business combination over the fair value of net tangible and intangible assets acquired. Goodwill amounts are not amortized but tested for impairment on an annual basis during the fourth quarter.
Intangible Assets, net	Intangible Assets, net Intangible assets, including acquired patents, trademarks, customer relationships, and acquired developed technology are carried at cost and amortized on a straight-line basis over their estimated useful lives. The Company determines the appropriate useful life of the Company’s intangible assets by measuring the expected cash flows of acquired assets.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets The Company assesses the impairment of long-lived assets, such as property and equipment subject to depreciation and acquired intangibles subject to amortization, when events or changes in circumstances indicate that their carrying amount may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized in the amount by which the carrying amount of the asset exceeds the fair value of the asset. The Company reviews long-lived assets for impairment at least annually, or more frequently if events or changes in circumstances would more likely than not reduce the fair value of its single reporting unit below its carrying value.
Investment in Affiliate	Investment in Affiliate Investment in affiliate relates to non-marketable equity securities held in a privately held company without a readily determinable market value. Non-marketable equity securities consist of warrants held to purchase shares of preferred stock of a Data Revenue Partner, refer to Note 2 “Summary of Significant Accounting Policies” for additional information regarding the Company’s Data Revenue Partner. Investments in non-public businesses that do not have readily determinable pricing, and for which the Company does not have control or does not exert significant influence, are carried at cost less impairments, if any, plus or minus changes in observable prices for those investments. Gains or losses resulting from changes in the carrying value of these investments are included as a non-operating expense to the Company’s condensed consolidated statements of operations and comprehensive loss. There have been no adjustments to the basis of the Company’s investment in affiliate to date. The carrying value of the Company’s investment in affiliate is included in prepaid expenses and other assets, noncurrent in the condensed consolidated balance sheets.
Common Stock Warrants	Common Stock Warrants The Company has issued freestanding warrants to purchase shares of common stock in connection with certain debt financing transactions. The warrants are recorded as equity instruments at the grant date fair value using the Black-Scholes option pricing model and are not subject to revaluation at each balance sheet date. In addition, the Company has issued warrants in connection with the convertible note agreements. The warrants are recorded as equity instruments at the grant date fair value using the Black-Scholes option pricing model. The fair value has been recorded as a debt discount that is being amortized to interest expense under the straight-line method over the term of respective convertible notes.
Stock-Based Compensation	Stock-Based Compensation The Company has an equity incentive plan under which various types of equity-based awards including, but not limited to, incentive stock options, non-qualified stock options, restricted stock units, and restricted stock awards, may be granted to employees, nonemployee directors, and nonemployee consultants. For all equity awards granted to employees, nonemployees and directors, the Company recognizes compensation expense based on the grant-date estimated fair values. The fair value of stock options is determined using the Black-Scholes option pricing model. For restricted stock units and restricted stock awards, the fair value is based on the grant date fair value of the award. The Company recognizes compensation expense for stock option awards, restricted stock units, and restricted stock awards on a straight-line basis over the requisite service period of the award, generally three to four years. Forfeitures are recorded as they occur. In 2020, the Company granted a market performance award to an executive that is subject to time-based vesting requirements in which vesting is contingent upon the Company’s achievement of certain market performance goals. The fair value of such performance awards was determined using a Monte Carlo simulation and is recognized under the accelerated attribution method over a four year period. In 2021, the Company issued stock options and restricted stock that have performance-based vesting conditions. For awards that include a performance condition, if the performance condition is determined to be probable of being satisfied, the Company recognizes compensation expense related to such awards using the accelerated attribution method over the required performance period. If a performance condition is not probable of being met, no compensation cost is recognized.
Income Taxes	Income Taxes The Company accounts for income taxes under the asset and liability method. The Company estimates actual current tax exposure together with assessing temporary differences resulting from differences in accounting for reporting purposes and tax purposes for certain items, such as accruals and allowances not currently deductible for tax purposes. These temporary differences result in deferred tax assets and liabilities, which are included in the Company’s balance sheets. In general, deferred tax assets represent future tax benefits to be received when certain expenses previously recognized in the Company’s statements of operations and comprehensive loss become deductible expenses under applicable income tax laws or when net operating loss or credit carryforwards are utilized. Accordingly, realization of the Company’s deferred tax assets is dependent on future taxable income against which these deductions, losses and credits can be utilized. The Company must assess the likelihood that the Company’s deferred tax assets will be recovered from future taxable income, and to the extent the Company believes that recovery is not likely, the Company establishes a valuation allowance. The assessment of whether a valuation allowance is required often requires significant judgment including current and historical operating results, the forecast of future taxable income and on-going prudent and feasible tax planning initiatives. The Company recognizes interest and penalties related to uncertain tax positions in income tax expense.
Contingencies	Contingencies From time to time, the Company may have certain contingent liabilities that arise in the ordinary course of business. The Company evaluates the likelihood of an unfavorable outcome in legal or regulatory proceedings to which it is a party and records a loss contingency on an undiscounted basis when it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. These judgments are subjective and based on the status of such legal proceedings, the merits of the Company’s defenses, and consultation with legal counsel. Actual outcomes of these legal proceedings may differ materially from the Company’s estimates. The Company estimates accruals for legal expenses when incurred as of each balance sheet date based on the facts and circumstances known to the Company at that time.
Segment Information	Segment Information The Company operates as a single operating segment. The Company’s chief operating decision maker is its chief executive officer, who reviews financial information presented on a consolidated basis for purposes of making operating decisions, assessing financial performance, and allocating resources. All material long-lived assets are based in the United States.
Net Loss Per Share	Net Loss Per Share The Company computes basic and diluted net loss per share in conformity with ASC 260, “Earnings per Share.” Basic net loss per share is calculated by dividing the net loss by the weighted-average number of shares of common stock outstanding during the period without consideration for potentially dilutive securities as they do not share in losses. The diluted net loss per share is computed giving effect to all potential dilutive common stock equivalents outstanding for the period. For purposes of this calculation, options to purchase common stock, common stock warrants, common stock convertible notes, and unvested restricted stock units are considered common stock equivalents but have been excluded from the calculation of diluted net loss per share as the effect is antidilutive.

Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2022

Accounting Policies [Abstract]

The following tables set forth the information about our channel and retail partners who represented greater than 10% of our revenue or accounts receivable, respectively:


	Percentage of Revenue
	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Channel Partner A	50	%	57	%	48	%	57	%
Channel Partner B	16	%	19	%	15	%	18	%
Retail Partner A	*		*		10	%	*
Data Partner A	11	%	*		*		*

* Represents less than 10%


	Percentage of Gross Accounts Receivable
	As of September 30,		As of December 31,
	2022		2021
Channel Partner A	37	%	48	%
Channel Partner B	11	%	14	%
Data Partner A	16	%	*

* Represents less than 10%

Revenue (Tables)

9 Months Ended

Sep. 30, 2022

Revenue by geographic area

The following table sets forth revenue by geographic area (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021

North America	$	52,041	$	27,553	$	141,352	$	72,150
Europe, Middle East and Africa	2,264		1,155		8,843		2,832
Other international regions	2,848		989		6,772		2,716
Total revenue	$	57,153	$	29,697	$	156,967	$	77,698

Deferred Revenue (Tables)

9 Months Ended

Sep. 30, 2022

Roll forward of deferred revenue

The following table represents a roll forward of the Company’s deferred revenue (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Deferred revenue, beginning of period	$	28,821	$	12,013	$	13,929	$	11,855
Acquired deferred revenue	1,173		403		10,081		403
Additions to deferred revenue	52,098		25,345		146,337		62,041
Recognized revenue in the period	(51,206)		(23,148)		(139,461)		(59,686)
Deferred revenue, end of period	$	30,886	$	14,613	$	30,886	$	14,613

Costs Capitalized to Obtain Contracts (Tables)

9 Months Ended

Sep. 30, 2022

Costs capitalized to obtain contracts

The following table represents a roll forward of the Company’s costs capitalized to obtain contracts, net (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Capitalized costs to obtain contracts, beginning of period	$	1,776	$	2,743	$	1,649	$	3,951
Acquired costs capitalized to obtain contracts	—		—		848		—
Additions to capitalized costs to obtain contracts	979		334		1,929		1,381
Amortization of capitalized costs to obtain contracts	(748)		(909)		(2,419)		(3,164)
Capitalized costs to obtain contracts, end of period	$	2,007	$	2,168	$	2,007	$	2,168

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Fair value and classification of instruments

The fair value of these instruments as of September 30, 2022 and December 31, 2021 are classified as follows (in thousands):


	As of September 30, 2022
	Level 1		Level 2		Level 3		Total

Liabilities:
Derivative liability (Note 10)	$	—	$	—	$	213	$	213
Convertible notes (Note 9)	—		—		6,834		6,834
Total	$	—	$	—	$	7,047	$	7,047


	As of December 31, 2021
	Level 1		Level 2		Level 3		Total
Liabilities:
Derivative liability (Note 10)	$	—	$	—	$	1,396	$	1,396
Convertible notes (Note 9)	—		—		12,293		12,293
Contingent consideration	—		—		9,500		9,500
Total	$	—	$	—	$	23,189	$	23,189

Change in fair value of convertible notes and contingent liability

The change in fair value of the Level 3 instruments were as follows (in thousands):


	As of September 30, 2022
	Derivative liability (Note 10)		Convertible notes (Note 9)		Contingent consideration

Fair value, beginning of the year	$	1,396	$	12,293	$	9,500
Vesting of revesting notes	—		122		—
Forfeiture of revesting notes	—		(235)		—
Repayment of convertible notes (Note 9)	—		(3,471)		—
Issuance of common stock in settlement of contingent consideration	—		—		(4,221)
Changes in fair value	(1,183)		(1,875)		(5,279)
Fair value, end of quarter	$	213	$	6,834	$	—


	As of December 31, 2021
	Derivative liability (Note 10)		Convertible notes (Note 9)		Contingent consideration
Fair value, beginning of the year	$	—	$	—	$	—
Issuance of derivative liability	663		—		—
Issuances of convertible notes	—		11,597		—
Issuance of revesting notes	—		186		—
Issuance of contingent consideration	—		—		5,900
Changes in fair value	733		510		3,600
Fair value, end of year	$	1,396	$	12,293	$	9,500

Business Combinations (Tables)

9 Months Ended

Sep. 30, 2022

Business Combination and Asset Acquisition [Abstract]

Fair value assumptions

The estimated fair value of the September 2021 Convertible Notes is determined using a

combination of the present value of the cash flows and the Black-Scholes option pricing model using assumptions as follows:


	As of September 1,			As of December 31,			As of September 30,
	2021			2021			2022
Principal	$	11,206		$	11,206		$	6,730
Interest rate	4.5		%	4.5		%	7.4		%
Common stock fair value per share	20.49			21.16			9.51
Conversion price per share	22.50			22.50			22.50
Risk-free interest rate	0.45		%	0.88		%	4.26		%
Time to exercise (in years)	3.00			2.70			1.90
Volatility	37		%	43		%	57		%
Annual dividend yield	0		%	0		%	0		%

The fair value of the warrants was determined using the Black-Scholes option-pricing method, with the following assumptions:


	Warrants Tranche 1			Warrants Tranche 2			Warrants Tranche 3
Fair market value of common stock	$	15.36		$	15.36		$	15.36
Expected dividend yield	0		%	0		%	0		%
Risk-free interest rate	0.09		%	0.89		%	0.89		%
Expected volatility	52.00		%	47.40		%	47.40		%
Expected term (in years)	1			5			5

Assets acquired and liabilities assumed

The assets acquired and liabilities assumed in connection with the acquisition were recorded at their fair value on the date of acquisition as follows (in thousands):


	Fair Value
Net tangible assets	$	5,986
Intangible assets	8,400
Goodwill	30,363
Liabilities assumed	(1,551)
Total acquisition consideration	$	43,198

The assets acquired and liabilities assumed in connection with the acquisition were recorded at their fair value on the date of acquisition as follows (in thousands):


	Fair Value
Cash	$	32,997
Restricted cash	1,050
Accounts receivable	27,826
Prepaid expenses and other current assets	5,004
Inventory	8,320
Property and equipment	570
Prepaid expenses and other assets, noncurrent	482
Intangible assets	52,700
Goodwill	102,493
Accounts payable	(23,197)
Accrued expenses and other current liabilities	(24,613)
Deferred revenue	(10,081)
Total acquisition consideration	$	173,551

Identifiable intangible assets acquired

The following table sets forth the components of identifiable intangible assets acquired (in thousands) and their estimated useful lives as of the date of acquisition:


	Fair Value		Estimated Useful Life (in years)
Developed technology	$	4,030	5
Trade name	3,380		10
Customer relationships	990		10
Total identified intangible assets	$	8,400

The following table sets forth the components of identifiable intangible assets acquired and their estimated useful lives as of the date of acquisition:


	Fair Value (in thousands)		Estimated Useful Life (in years)
Developed technology	$	18,400	5
Trade name	20,000		10
Customer relationships	14,300		8
Total identified intangible assets	$	52,700

Balance Sheet Components (Tables)

9 Months Ended

Sep. 30, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Accounts receivable, net

Accounts receivable, net consists of the following (in thousands):


	As of September 30,		As of December 31,
	2022		2021

Accounts receivable	$	23,280	$	11,772
Allowance for doubtful accounts	(94)		—
Accounts receivable, net	$	23,186	$	11,772

Inventory

Inventory consists of the following (in thousands):


	As of September 30,		As of December 31,
	2022		2021

Raw materials	$	1,821	$	1,298
Finished goods	13,385		711
Total inventory	$	15,206	$	2,009

Prepaid expenses and other assets

Prepaid expenses and other current assets consist of the following (in thousands):


	As of September 30,		As of December 31,
	2022		2021

Prepaid expenses	$	8,348	$	9,798
Other receivables	2,457		792
Total prepaid expenses and other current assets	$	10,805	$	10,590

Prepaid expenses and other assets, noncurrent consist of the following (in thousands):


	As of September 30,		As of December 31,
	2022		2021

Prepaid expenses	$	1,993	$	3,324
Investment in affiliate	5,474		—
Other assets	136		367
Total prepaid expenses and other assets, noncurrent	$	7,603	$	3,691

Property and equipment, net

Property and equipment, net consists of the following (in thousands):


	As of September 30,		As of December 31,
	2022		2021

Computer equipment	$	671	$	479
Leasehold improvements	1,006		923
Production manufacturing equipment	624		378
Furniture and fixtures	431		422
Total property and equipment, gross	2,732		2,202
Less: accumulated depreciation	(2,207)		(1,622)
Total property and equipment, net	$	525	$	580

Operating lease costs

Operating lease costs were as follows (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021

Operating lease cost (1)	$	602	$	367	$	1,796	$	1,076

(1) Amounts include short-term leases, which are immaterial.

Maturities of operating lease liabilities

Maturities of the Company’s operating lease liabilities, which do not include short-term leases, as of September 30, 2022 were as follows (in thousands):


	Operating leases
Remainder of 2022	$	548
2023	931
2024	61
Total future minimum lease payments	1,540
Less imputed interest	(38)
Total operating lease liability	$	1,502

Intangibles, net

Intangible assets, net consists of the following (in thousands):


	As of September 30,		As of December 31,
	2022		2021

Intellectual property	$	225	$	225
Licenses	237		237
Trade name	23,380		3,380
Technology	22,685		4,285
Customer relationships	15,290		990
Internal use software	701		—
Total intangible assets, gross	62,518		9,117
Less: accumulated amortization	(7,584)		(1,131)
Total intangible assets, net	$	54,934	$	7,986

The weighted-average remaining useful lives of the Company’s acquired intangible assets are as follows:


	Weighted-Average Remaining Useful Life
	As of September 30,	As of December 31,
	2022	2021

Trade name	9.2 years	9.7 years
Technology	4.2 years	4.5 years
Customer relationships	7.4 years	9.7 years

The detail of intangible assets, net is as follows (in thousands):


	As of September 30, 2022
	Intellectual property		Licenses		Trade name		Technology		Customer relationships		Internal use software		Total
Total intangible assets	$	225	$	237	$	23,380	$	22,685	$	15,290	$	701	$	62,518
Less accumulated amortization	(225)		(237)		(1,839)		(3,839)		(1,424)		(20)		(7,584)
Total intangible assets, net	$	—	$	—	$	21,541	$	18,846	$	13,866	$	681	$	54,934


	As of December 31, 2021
	Intellectual property		Licenses		Trade name		Technology		Customer relationships		Total
Total intangible assets	$	225	$	237	$	3,380	$	4,285	$	990	$	9,117
Less accumulated amortization	(225)		(237)		(113)		(523)		(33)		(1,131)
Total intangible assets, net	$	—	$	—	$	3,267	$	3,762	$	957	$	7,986

Estimated remaining amortization expense for intangible assets

As of September 30, 2022, estimated remaining amortization expense for intangible assets by fiscal year is as follows (in thousands):


	Amount

Remainder of 2022	$	2,236
2023	8,944
2024	8,944
2025	8,864
2026	8,442
Beyond	17,504
Total future amortization expense	$	54,934

Goodwill

Goodwill consists of the following (in thousands):



Balance as of December 31, 2021	$	31,127
Acquisitions	102,493
Balance as of September 30, 2022	$	133,620

Accrued expenses and other liabilities

Accrued expenses and other liabilities consist of the following (in thousands):


	As of September 30,		As of December 31,
	2022		2021

Accrued vendor expenses	$	14,698	$	7,478
Accrued compensation	3,871		1,324
Customer related promotions and discounts	3,413		—
Operating lease liability	1,313		1,574
Other current liabilities	3,863		171
Total accrued expenses and other liabilities	$	27,158	$	10,547

Other non-current liabilities

Other noncurrent liabilities consist of the following (in thousands):


	As of September 30,		As of December 31,
	2022		2021

Deposit liabilities	$	256	$	916
Other noncurrent liabilities	1,053		—
Operating lease liability	189		289
Total other noncurrent liabilities	$	1,498	$	1,205

Convertible Notes (Tables)

9 Months Ended

Sep. 30, 2022

Debt Disclosure [Abstract]

Fair value assumptions

The estimated fair value of the September 2021 Convertible Notes is determined using a

combination of the present value of the cash flows and the Black-Scholes option pricing model using assumptions as follows:


	As of September 1,			As of December 31,			As of September 30,
	2021			2021			2022
Principal	$	11,206		$	11,206		$	6,730
Interest rate	4.5		%	4.5		%	7.4		%
Common stock fair value per share	20.49			21.16			9.51
Conversion price per share	22.50			22.50			22.50
Risk-free interest rate	0.45		%	0.88		%	4.26		%
Time to exercise (in years)	3.00			2.70			1.90
Volatility	37		%	43		%	57		%
Annual dividend yield	0		%	0		%	0		%

The fair value of the warrants was determined using the Black-Scholes option-pricing method, with the following assumptions:


	Warrants Tranche 1			Warrants Tranche 2			Warrants Tranche 3
Fair market value of common stock	$	15.36		$	15.36		$	15.36
Expected dividend yield	0		%	0		%	0		%
Risk-free interest rate	0.09		%	0.89		%	0.89		%
Expected volatility	52.00		%	47.40		%	47.40		%
Expected term (in years)	1			5			5

Convertible notes

Convertible notes, current and noncurrent consist of the following (in thousands):


	As of September 30,		As of December 31,
	2022		2021

Convertible notes, current:
September 2021 Convertible Notes	$	3,405	$	4,160
Revesting Notes	49		62
Convertible notes, noncurrent:
July 2021 Convertible Notes	529		213
September 2021 Convertible Notes	3,356		7,947
Revesting Notes	24		124
Total convertible notes	$	7,363	$	12,506

Common Stock (Tables)

9 Months Ended

Sep. 30, 2022

Equity [Abstract]

Reserved shares of common stock

The Company has reserved shares of common stock, on an as if converted basis, for issuance as follows:


	As of September 30,	As of December 31,
	2022	2021

Issuances under stock incentive plan	8,249,031	6,972,376
Issuances upon exercise of common stock warrants	137,658	272,001
Issuances upon vesting of restricted stock units	6,422,809	2,523,122
Issuances of convertible notes	516,758	686,926
Shares reserved for shares available to be granted but not granted yet	995,072	4,071,403
	16,321,328	14,525,828

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

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Share-Based Payment Arrangement [Abstract]

Equity Incentive Plan (Tables)

9 Months Ended

Sep. 30, 2022

Stock option activity

The following summary of stock option activity for the periods presented is as follows:


	Number of Shares Underlying Outstanding Options	Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Life (in Years)	Aggregate Intrinsic Value
Balance as of December 31, 2021	6,972,376	$	5.61	6.71	$	108,426
Options granted	1,908,934	11.93
Options exercised	(393,378)	5.00
Options cancelled/forfeited	(238,901)	7.26
Balance as of September 30, 2022	8,249,031	7.05		5.84	29,859
Exercisable as of September 30, 2022	5,357,424	$	4.81	5.68	$	26,823

Restricted Stock Units activity

The following summary of Restricted Stock Units (RSU) activity for the periods presented is as follows:


	Number of Shares	Weighted average grant date fair value
Balance as of December 31, 2021	2,523,122	$	11.53
RSU granted	6,351,009	11.76
RSU vested and settled	(810,008)	9.43
RSU cancelled/forfeited	(1,641,314)	13.78
Balance as of September 30, 2022	6,422,809	$	11.40

Fair value assumptions

The fair value of the employee stock options granted is estimated using the Black-Scholes option-pricing model, based on the following assumptions:


	Nine Months Ended September 30,		Year Ended December 31,
	2022		2021

Expected terms (in years)	3.87		4.24
Expected volatility	65	%	49	%
Risk-free interest rate	2.22	%	0.68	%
Expected dividend rate	0	%	0	%

Stock-based compensation expense

Stock-based compensation expense was allocated as follows (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021

Cost of revenue
Subscription costs	$	117	$	97	$	553	$	301
Hardware costs	127		—		409		—
Other costs	67		16		170		52
Total cost of revenue	$	311	$	113	$	1,132	$	353
Research and development	4,222		2,164		13,133		5,448
Sales and marketing	935		174		3,106		464
General and administrative	2,495		809		7,116		2,135
Total stock-based compensation expense	$	7,963	$	3,260	$	24,487	$	8,400

Net Loss Per Share (Tables)

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

Computation of basic and diluted net loss per share

The following table sets forth the computation of basic and diluted net loss per share (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021

Net loss	$	(21,119)	$	(8,014)	$	(79,326)	$	(18,670)
Weighted-average shares used in computing net loss per share, basic and diluted	62,174		51,217		61,754		50,608
Net loss per share, basic and diluted	$	(0.34)	$	(0.16)	$	(1.28)	$	(0.37)

Antidilutive common shares excluded from computation


	As of September 30,	As of December 31,
	2022	2021

Issuances under stock incentive plan	8,249,031	6,972,376
Issuances upon exercise of common stock warrants	137,658	272,001
Issuances upon vesting of restricted stock units	6,422,809	2,523,122
Issuances of convertible notes	516,758	686,926
Shares reserved for shares available to be granted but not granted yet	995,072	4,071,403
	16,321,328	14,525,828

Summary of Significant Accounting Policies - Revenue Recognition (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Jan. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Total revenue	$ 57,153	$ 29,697	$ 156,967	$ 77,698
Partnership agreement term			3 years
Number of shares to purchase under warrants (in shares)	137,658		137,658			272,001
Remaining performance obligation, amount	$ 30,900		$ 30,900
Preferred Warrant
Disaggregation of Revenue [Line Items]
Exercise price or warrants (in usd per share)					$ 4.90
Fair value of warrant					$ 5,400
Preferred Warrant \| Series C Preferred Stock
Disaggregation of Revenue [Line Items]
Number of shares to purchase under warrants (in shares)					5,100,167
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01
Disaggregation of Revenue [Line Items]
Remaining performance obligation, amount	$ 27,900		$ 27,900
Remaining performance obligation, expected timing of satisfaction	12 months		12 months
Minimum
Disaggregation of Revenue [Line Items]
Warranty term			1 year
Exercise price or warrants (in usd per share)	$ 0.01		$ 0.01
Capitalized contract costs, amortization period	2 years		2 years
Maximum
Disaggregation of Revenue [Line Items]
Warranty term			2 years
Exercise price or warrants (in usd per share)	$ 11.96		$ 11.96
Capitalized contract costs, amortization period	3 years		3 years
Subscription
Disaggregation of Revenue [Line Items]
Total revenue	$ 38,991	23,110	$ 107,884	59,479
Hardware
Disaggregation of Revenue [Line Items]
Total revenue	11,676	38	28,314	38
Data
Disaggregation of Revenue [Line Items]
Total revenue	5,500	5,000	17,700	13,600
Partnership
Disaggregation of Revenue [Line Items]
Total revenue	$ 1,000	$ 1,600	$ 3,100	$ 4,600

Summary of Significant Accounting Policies - Other Narrative Sections (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) segment	Sep. 30, 2021 USD ($)
Accounting Policies [Abstract]
Advertising expense	$ 4.4	$ 1.9	$ 13.4	$ 4.3
Impairment of goodwill	0.0	0.0	0.0	0.0
Impairment of intangible assets	0.0	0.0	0.0	0.0
Impairment of long-lived assets	0.0	0.0	0.0	0.0
Interest and penalties related to uncertain tax positions	$ 0.0	$ 0.0	$ 0.0	$ 0.0
Number of operating segments \| segment			1

Summary of Significant Accounting Policies - Channel and Retail Partners Greater Than 10% (Details) - Customer concentration risk	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Revenue benchmark \| Channel Partner A
Concentration Risk [Line Items]
Concentration risk, percentage	50.00%	57.00%	48.00%	57.00%
Revenue benchmark \| Channel Partner B
Concentration Risk [Line Items]
Concentration risk, percentage	16.00%	19.00%	15.00%	18.00%
Revenue benchmark \| Retail Partner A
Concentration Risk [Line Items]
Concentration risk, percentage			10.00%
Revenue benchmark \| Data Partner A
Concentration Risk [Line Items]
Concentration risk, percentage	11.00%
Accounts receivable \| Channel Partner A
Concentration Risk [Line Items]
Concentration risk, percentage			37.00%		48.00%
Accounts receivable \| Channel Partner B
Concentration Risk [Line Items]
Concentration risk, percentage			11.00%		14.00%
Accounts receivable \| Data Partner A
Concentration Risk [Line Items]
Concentration risk, percentage			16.00%

Summary of Significant Accounting Policies - Restricted Cash (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 14,911	$ 355	$ 348
Consideration, indemnity escrow, term	15 months
Indemnity escrow fund
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 13,100
Leases
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash		$ 400

Summary of Significant Accounting Policies - Property and Equipment, net (Details)	9 Months Ended
	Sep. 30, 2022
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	3 years
Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	3 years
Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	10 years

Summary of Significant Accounting Policies - Software Development Costs (Details) $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($)
Property, Plant and Equipment [Line Items]
Capitalized software development costs	$ 0.7
Internal use software
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	3 years

Summary of Significant Accounting Policies - Stock-Based Compensation (Details)	9 Months Ended
	Sep. 30, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period	4 years
Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Service period	3 years
Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Service period	4 years

Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Revenue (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disaggregation of Revenue [Line Items]
Total revenue	$ 57,153	$ 29,697	$ 156,967	$ 77,698
North America
Disaggregation of Revenue [Line Items]
Total revenue	52,041	27,553	141,352	72,150
Europe, Middle East and Africa
Disaggregation of Revenue [Line Items]
Total revenue	2,264	1,155	8,843	2,832
Other international regions
Disaggregation of Revenue [Line Items]
Total revenue	$ 2,848	$ 989	$ 6,772	$ 2,716

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Deferred Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Deferred Revenue (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Contract With Customer, Liability [Roll Forward]
Beginning balance	$ 28,821	$ 12,013	$ 13,929	$ 11,855
Acquired deferred revenue	1,173	403	10,081	403
Additions to deferred revenue	52,098	25,345	146,337	62,041
Recognized revenue in the period	(51,206)	(23,148)	(139,461)	(59,686)
Ending balance	$ 30,886	$ 14,613	$ 30,886	$ 14,613

Costs Capitalized to Obtain Contracts (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Capitalized Contract Cost [Roll Forward]
Beginning balance	$ 1,776	$ 2,743	$ 1,649	$ 3,951
Acquired costs capitalized to obtain contracts	0	0	848	0
Additions to capitalized costs to obtain contracts	979	334	1,929	1,381
Amortization of capitalized costs to obtain contracts	(748)	(909)	(2,419)	(3,164)
Ending balance	$ 2,007	$ 2,168	$ 2,007	$ 2,168
Minimum
Capitalized Contract Cost [Line Items]
Capitalized contract costs, amortization period	2 years		2 years
Maximum
Capitalized Contract Cost [Line Items]
Capitalized contract costs, amortization period	3 years		3 years

Fair Value Measurements - Fair Value and Classification of Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021	Jul. 31, 2021
Liabilities:
Derivative liability (Note 10)	$ 213	$ 1,396	$ 700
Convertible notes (Note 9)	6,834	12,293
Contingent consideration		9,500
Total	7,047	23,189
Level 1
Liabilities:
Derivative liability (Note 10)	0	0
Convertible notes (Note 9)	0	0
Contingent consideration		0
Total	0	0
Level 2
Liabilities:
Derivative liability (Note 10)	0	0
Convertible notes (Note 9)	0	0
Contingent consideration		0
Total	0	0
Level 3
Liabilities:
Derivative liability (Note 10)	213	1,396
Convertible notes (Note 9)	6,834	12,293
Contingent consideration		9,500
Total	$ 7,047	$ 23,189

Fair Value Measurements - Change in Fair Value of Convertible Notes and Contingent Liability (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Changes in fair value		$ 400		$ (400)
Derivative liability
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value, beginning of the year			$ 1,396	0	$ 0
Vesting/Issuances					663
Changes in fair value	$ 100		(1,183)		733
Fair value, end of quarter	213		213		1,396
Convertible notes
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value, beginning of the year			12,293	0	0
Vesting/Issuances			122
Changes in fair value	200		(1,875)		510
Fair value, end of quarter	6,834		6,834		12,293
Convertible notes \| Convertible Notes
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Vesting/Issuances					11,597
Settlements			(3,471)
Convertible notes \| Revesting Notes
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Vesting/Issuances					186
Settlements			(235)
Contingent consideration
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value, beginning of the year			9,500	$ 0	0
Vesting/Issuances					5,900
Settlements			(4,221)
Changes in fair value			(5,279)		3,600
Fair value, end of quarter	$ 0		$ 0		$ 9,500

Fair Value Measurements - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gain (loss) for change in fair value of derivative liability		$ (400)		$ 400
Gain (loss) on change in fair value of contingent consideration	$ 0		$ (5,279)	$ 0
Derivative liability
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gain (loss) for change in fair value of derivative liability	(100)		1,183		$ (733)
Convertible notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gain (loss) for change in fair value of derivative liability	(200)		1,875		(510)
Contingent consideration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gain (loss) for change in fair value of derivative liability			$ 5,279		$ (3,600)
Gain (loss) on change in fair value of contingent consideration	$ 0

Business Combinations - Jiobit Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended	3 Months Ended			9 Months Ended
	Sep. 01, 2021	Apr. 30, 2022	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Business Acquisition [Line Items]
Contingent consideration								$ 9,500
Fair value of stock issued in connection with an acquisition						$ 15,409	$ 13,821
Consideration, indemnity escrow, term						15 months
Vesting period						4 years
Stock-based compensation			$ 7,963		$ 3,260	$ 24,487	8,400
Convertible notes fair value adjustment			232		$ 0	(1,875)	0
Retention bonuses, vesting period	24 months
Gain on revaluation of contingent consideration			$ 0			$ 5,279	$ 0
Issuance of common stock in settlement of contingent consideration				$ 4,221
Contingent Consideration Target One
Business Acquisition [Line Items]
Continent consideration target percentage	100.00%
Contingent Consideration Target Two \| Minimum
Business Acquisition [Line Items]
Continent consideration target percentage	90.00%
Contingent Consideration Target Two \| Maximum
Business Acquisition [Line Items]
Continent consideration target percentage	100.00%
Contingent Consideration Target Three
Business Acquisition [Line Items]
Continent consideration target percentage	90.00%
2021 Contingent Consideration
Business Acquisition [Line Items]
Contingent consideration								6,300
2022 Contingent Consideration
Business Acquisition [Line Items]
Contingent consideration								$ 3,100
September 2021 Convertible Notes
Business Acquisition [Line Items]
Convertible notes conversion price (in usd per share)	$ 22.50
Convertible notes, repayment of principal, percentage per year	33.33%
September 2021 Convertible Notes \| Convertible notes
Business Acquisition [Line Items]
Convertible notes conversion price (in usd per share)	$ 22.50		$ 22.50			$ 22.50		$ 22.50
Stock options
Business Acquisition [Line Items]
Vesting period						4 years
Revesting Stock
Business Acquisition [Line Items]
Stock-based compensation		$ 300	$ 0			$ 200
Revesting Notes
Business Acquisition [Line Items]
Stock-based compensation		$ 300
Convertible notes fair value adjustment			$ 0			$ 200
Jiobit
Business Acquisition [Line Items]
Aggregate purchase consideration	$ 43,200
Consideration paid in cash	7,300
Contingent consideration	5,900
Consideration, fair value of convertible notes	11,600
Consideration, forgiveness of convertible debt	4,000
Fair value of stock issued in connection with an acquisition	$ 13,800
Consideration, stock issued (in shares)	674,516
Consideration, indemnity escrow	$ 200
Consideration, indemnity escrow, term	15 months
Excluded consideration	$ 6,000
Excluded consideration, revesting convertible notes	1,600
Excluded consideration, retention bonuses	1,000
Transaction related expenses	1,000
Contingent consideration, amendment percentage		50.00%
Issuance of common stock in settlement of contingent consideration (in shares)		376,573
Issuance of common stock in settlement of contingent consideration		$ 4,200
Acquisition consideration	43,198
Deferred tax liability	100
Jiobit \| 2021 Contingent Consideration
Business Acquisition [Line Items]
Contingent consideration	$ 100
Contingent consideration (in shares)	301,261
Jiobit \| 2022 Contingent Consideration
Business Acquisition [Line Items]
Contingent consideration	$ 5,800
Contingent consideration (in shares)	451,891
Jiobit \| Convertible notes
Business Acquisition [Line Items]
Vesting period	3 years
Jiobit \| Stock options
Business Acquisition [Line Items]
Consideration, replacement awards	$ 600
Consideration, replacement awards (in shares)	25,245
Excluded consideration, share-based compensation	$ 500
Excluded consideration, share-based compensation (in shares)	43,083
Jiobit \| Restricted stock
Business Acquisition [Line Items]
Excluded consideration, revesting stock	$ 1,900
Excluded consideration, revesting stock (in shares)	91,217
Vesting period	3 years
Jiobit \| Revesting Stock
Business Acquisition [Line Items]
Vesting period	3 years

Business Combinations - Fair Value Assumptions (Details) - September 2021 Convertible Notes $ / shares in Units, $ in Thousands	Sep. 30, 2022 USD ($) year $ / shares	Dec. 31, 2021 USD ($) year $ / shares	Sep. 01, 2021 USD ($) year $ / shares
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Conversion price per share (in usd per share)			$ 22.50
Convertible notes
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Principal \| $	$ 6,730	$ 11,206	$ 11,206
Interest rate	7.40%	4.50%	4.50%
Common stock fair value per share (usd per share)	$ 9.51	$ 21.16	$ 20.49
Conversion price per share (in usd per share)	$ 22.50	$ 22.50	$ 22.50
Risk-free interest rate \| Convertible notes
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Convertible notes, measurement input	0.0426	0.0088	0.0045
Time to exercise \| Convertible notes
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Convertible notes, measurement input \| year	1.90	2.70	3.00
Expected volatility \| Convertible notes
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Convertible notes, measurement input	0.57	0.43	0.37
Annual dividend yield \| Convertible notes
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Convertible notes, measurement input	0	0	0

Business Combinations - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Jan. 05, 2022	Dec. 31, 2021	Sep. 01, 2021
Business Acquisition [Line Items]
Goodwill	$ 133,620		$ 31,127
Jiobit
Business Acquisition [Line Items]
Net tangible assets				$ 5,986
Intangible assets				8,400
Goodwill				30,363
Liabilities assumed				(1,551)
Total acquisition consideration				$ 43,198
Tile
Business Acquisition [Line Items]
Cash		$ 32,997
Restricted cash		1,050
Accounts receivable		27,826
Prepaid expenses and other current assets		5,004
Inventory		8,320
Property and equipment		570
Prepaid expenses and other assets, noncurrent		482
Intangible assets		52,700
Goodwill		102,493
Accounts payable		(23,197)
Accrued expenses and other current liabilities		(24,613)
Deferred revenue		(10,081)
Total acquisition consideration		$ 173,551

Business Combinations - Identifiable Intangible Assets Acquired (Details) - USD ($) $ in Thousands	Jan. 05, 2022	Sep. 01, 2021
Jiobit
Acquired Finite-Lived Intangible Assets [Line Items]
Fair Value		$ 8,400
Jiobit \| Developed technology
Acquired Finite-Lived Intangible Assets [Line Items]
Fair Value		$ 4,030
Estimated Useful Life (in years)		5 years
Jiobit \| Trade name
Acquired Finite-Lived Intangible Assets [Line Items]
Fair Value		$ 3,380
Estimated Useful Life (in years)		10 years
Jiobit \| Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Fair Value		$ 990
Estimated Useful Life (in years)		10 years
Tile
Acquired Finite-Lived Intangible Assets [Line Items]
Fair Value	$ 52,700
Tile \| Developed technology
Acquired Finite-Lived Intangible Assets [Line Items]
Fair Value	$ 18,400
Estimated Useful Life (in years)	5 years
Tile \| Trade name
Acquired Finite-Lived Intangible Assets [Line Items]
Fair Value	$ 20,000
Estimated Useful Life (in years)	10 years
Tile \| Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Fair Value	$ 14,300
Estimated Useful Life (in years)	8 years

Business Combinations - Tile Narrative (Details) - USD ($) $ in Thousands			3 Months Ended	9 Months Ended
	Jan. 05, 2022	Sep. 01, 2021	Sep. 30, 2022	Sep. 30, 2022	Sep. 30, 2021
Business Acquisition [Line Items]
Fair value of stock issued in connection with an acquisition				$ 15,409	$ 13,821
Consideration, indemnity escrow, term				15 months
Vesting period				4 years
Stock options
Business Acquisition [Line Items]
Vesting period				4 years
Tile
Business Acquisition [Line Items]
Aggregate purchase consideration	$ 173,600
Consideration paid in cash	158,000
Fair value of stock issued in connection with an acquisition	$ 15,600
Consideration, stock issued (in shares)	780,593
Contingent consideration (in shares)	534,465
Consideration, indemnity escrow	$ 14,100
Consideration, indemnity escrow (in shares)	84,524
Consideration, indemnity escrow, term	15 months
Excluded consideration	$ 35,000
Excluded consideration, share-based compensation (in shares)	1,499,349
Excluded consideration, retention bonuses	$ 3,000
Transaction related expenses	$ 1,700
Excluded consideration, shares granted (in shares)	1,561
Excluded consideration, contingent consideration, shares granted (in shares)	4,784
Tile \| Restricted stock units
Business Acquisition [Line Items]
Excluded consideration, share-based compensation (in shares)	1,499,349			711,903
Excluded consideration, share-based compensation	$ 29,600
Tile \| Restricted stock units \| Minimum
Business Acquisition [Line Items]
Vesting period				2 years
Tile \| Restricted stock units \| Maximum
Business Acquisition [Line Items]
Vesting period				4 years
Tile \| Stock options
Business Acquisition [Line Items]
Excluded consideration, share-based compensation (in shares)	38,730
Excluded consideration, share-based compensation	$ 400
Tile \| Performance shares
Business Acquisition [Line Items]
Excluded consideration, share-based compensation (in shares)	787,446
Excluded consideration, share-based compensation	$ 15,600
Vesting period	2 years
Jiobit
Business Acquisition [Line Items]
Aggregate purchase consideration		$ 43,200
Consideration paid in cash		7,300
Fair value of stock issued in connection with an acquisition		$ 13,800
Consideration, stock issued (in shares)		674,516
Consideration, indemnity escrow		$ 200
Consideration, indemnity escrow, term		15 months
Excluded consideration		$ 6,000
Excluded consideration, retention bonuses		1,000
Transaction related expenses		$ 1,000
Measurement period adjustment, goodwill			$ 400
Measurement period adjustment, deferred revenue			1,200
Measurement period adjustment, inventory			$ 800
Jiobit \| Stock options
Business Acquisition [Line Items]
Excluded consideration, share-based compensation (in shares)		43,083
Excluded consideration, share-based compensation		$ 500

Balance Sheet Components- Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accounts receivable	$ 23,280	$ 11,772
Allowance for doubtful accounts	(94)	0
Accounts receivable, net	$ 23,186	$ 11,772

Balance Sheet Components - Inventory (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Raw materials	$ 1,821	$ 1,298
Finished goods	13,385	711
Total inventory	$ 15,206	$ 2,009

Balance Sheet Components - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Prepaid expenses	$ 8,348	$ 9,798
Other receivables	2,457	792
Total prepaid expenses and other current assets	$ 10,805	$ 10,590

Balance Sheet Components - Property and Equipment, Net (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	$ 2,732		$ 2,732		$ 2,202
Less: accumulated depreciation	(2,207)		(2,207)		(1,622)
Total property and equipment, net	525		525		580
Depreciation	100	$ 200	300	$ 400
Computer equipment
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	671		671		479
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	1,006		1,006		923
Production manufacturing equipment
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	624		624		378
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	$ 431		$ 431		$ 422

Balance Sheet Components - Prepaid Expenses and Other Assets, Non-Current (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Prepaid expenses	$ 1,993	$ 3,324
Investment in affiliate	5,474	0
Other assets	136	367
Total prepaid expenses and other assets, noncurrent	$ 7,603	$ 3,691

Balance Sheet Components - Leases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Remaining lease terms	2 years		2 years
Right-of-use-asset	$ 1,491		$ 1,491		$ 1,627
Short term lease liabilities	1,313		1,313		1,574
Long-term lease liabilities	$ 189		$ 189		$ 289
Short term lease liabilities location	Accrued expenses and other liabilities		Accrued expenses and other liabilities		Accrued expenses and other liabilities
Long-term lease liabilities location	Other noncurrent liabilities		Other noncurrent liabilities		Other noncurrent liabilities
Operating lease costs	$ 602	$ 367	$ 1,796	$ 1,076
Weighted-average remaining term	1 year		1 year		1 year 3 months 18 days
Weighted-average discount rate	5.00%		5.00%		4.80%
Maturities of operating lease liabilities
Remainder of 2022	$ 548		$ 548
2023	931		931
2024	61		61
Total future minimum lease payments	1,540		1,540
Less imputed interest	(38)		(38)
Total operating lease liability	$ 1,502		$ 1,502

Balance Sheet Components - Intangible Assets, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Total intangible assets, gross	$ 62,518	$ 9,117
Less: accumulated amortization	(7,584)	(1,131)
Total intangible assets, net	54,934	7,986
Intellectual property
Finite-Lived Intangible Assets [Line Items]
Total intangible assets, gross	225	225
Less: accumulated amortization	(225)	(225)
Total intangible assets, net	0	0
Licenses
Finite-Lived Intangible Assets [Line Items]
Total intangible assets, gross	237	237
Less: accumulated amortization	(237)	(237)
Total intangible assets, net	0	0
Trade name
Finite-Lived Intangible Assets [Line Items]
Total intangible assets, gross	23,380	3,380
Less: accumulated amortization	(1,839)	(113)
Total intangible assets, net	21,541	3,267
Technology
Finite-Lived Intangible Assets [Line Items]
Total intangible assets, gross	22,685	4,285
Less: accumulated amortization	(3,839)	(523)
Total intangible assets, net	18,846	3,762
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Total intangible assets, gross	15,290	990
Less: accumulated amortization	(1,424)	(33)
Total intangible assets, net	13,866	957
Internal use software
Finite-Lived Intangible Assets [Line Items]
Total intangible assets, gross	701	$ 0
Less: accumulated amortization	(20)
Total intangible assets, net	$ 681

Balance Sheet Components - Intangible Assets Remaining Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Amortization expense	$ 2,200	$ 100	$ 6,500	$ 100
Remainder of 2022	2,236		2,236
2023	8,944		8,944
2024	8,944		8,944
2025	8,864		8,864
2026	8,442		8,442
Beyond	17,504		17,504
Total intangible assets, net	$ 54,934		$ 54,934

Balance Sheet Components - Intangible Assets, Weighted-Average Remaining Useful Life (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Trade name
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Useful Life	9 years 2 months 12 days	9 years 8 months 12 days
Technology
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Useful Life	4 years 2 months 12 days	4 years 6 months
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Useful Life	7 years 4 months 24 days	9 years 8 months 12 days

Balance Sheet Components - Goodwill (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Goodwill [Roll Forward]
Balance as of December 31, 2021	$ 31,127
Acquisitions	102,493
Balance as of September 30, 2022	$ 133,620

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

Balance Sheet Components - Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued vendor expenses	$ 14,698	$ 7,478
Accrued compensation	3,871	1,324
Customer related promotions and discounts	3,413	0
Operating lease liability	1,313	1,574
Other current liabilities	3,863	171
Total accrued expenses and other liabilities	$ 27,158	$ 10,547

Balance Sheet Components - Escrow Liability (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consideration, indemnity escrow, term	15 months
Escrow liability	$ 13,094	$ 0

Balance Sheet Components - Other Non-Current Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Deposit liabilities	$ 256	$ 916
Other noncurrent liabilities	1,053	0
Operating lease liability	189	289
Total other noncurrent liabilities	$ 1,498	$ 1,205

Convertible Notes - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended	9 Months Ended
	Jul. 31, 2021	Sep. 30, 2022	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Debt Instrument [Line Items]
Derivative liability (Note 10)	$ 700	$ 213	$ 213		$ 1,396
Beneficial conversion feature			0	$ 603
Warrants Tranche 1
Debt Instrument [Line Items]
Warrants (in shares)	88,213
Exercise price or warrants (in usd per share)	$ 0.01
Term of warrants	1 year
Warrants Tranche 2
Debt Instrument [Line Items]
Warrants (in shares)	44,106
Exercise price or warrants (in usd per share)	$ 11.96
Term of warrants	5 years
Warrants Tranche 3
Debt Instrument [Line Items]
Warrants (in shares)	44,106
Exercise price or warrants (in usd per share)	$ 11.96
Term of warrants	5 years
Restriction period of warrants	12 months
July 2021 Convertible Notes
Debt Instrument [Line Items]
Principal amount	$ 2,100
Annual interest rate	4.00%
Conversion price per share (in usd per share)	$ 11.96
Unamortized amount		1,600	1,600		1,900
Carrying amount		500	500		200
Amount by which if-converted value (does not exceed)/exceeds principal		(400)	(400)		$ 1,600
Debt discount	$ 800
Beneficial conversion feature	$ 600
Interest expense		$ 100	$ 300

Convertible Notes - Fair Value Assumptions (Details)	Jul. 31, 2021 $ / shares
Warrants Tranche 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected term	1 year
Warrants Tranche 1 \| Fair market value of common stock
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	15.36
Warrants Tranche 1 \| Expected dividend yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	0
Warrants Tranche 1 \| Risk-free interest rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	0.0009
Warrants Tranche 1 \| Expected volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	0.5200
Warrants Tranche 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected term	5 years
Warrants Tranche 2 \| Fair market value of common stock
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	15.36
Warrants Tranche 2 \| Expected dividend yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	0
Warrants Tranche 2 \| Risk-free interest rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	0.0089
Warrants Tranche 2 \| Expected volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	0.4740
Warrants Tranche 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected term	5 years
Warrants Tranche 3 \| Fair market value of common stock
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	15.36
Warrants Tranche 3 \| Expected dividend yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	0
Warrants Tranche 3 \| Risk-free interest rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	0.0089
Warrants Tranche 3 \| Expected volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	0.4740

Convertible Notes - Current and Non-Current (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Convertible notes, current:	$ 3,454	$ 4,222
Convertible notes, noncurrent:	3,909	8,284
Total convertible notes	7,363	12,506
July 2021 Convertible Notes
Debt Instrument [Line Items]
Convertible notes, noncurrent:	529	213
September 2021 Convertible Notes
Debt Instrument [Line Items]
Convertible notes, current:	3,405	4,160
Convertible notes, noncurrent:	3,356	7,947
Revesting Notes
Debt Instrument [Line Items]
Convertible notes, current:	49	62
Convertible notes, noncurrent:	$ 24	$ 124

Derivative Liability (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021	Jul. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative liability	$ 213	$ 1,396	$ 700

Commitments and Contingencies (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Purchase commitments	$ 17.1	$ 11.0

Common Stock - Narrative (Details) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Equity [Abstract]
Common stock, authorized (in shares)	100,000,000	100,000,000
Common stock, par value (in usd per share)	$ 0.001	$ 0.001
Common stock subject to repurchase (in shares)	108,592	108,592

Common Stock - Shares Reserved for Issuance (Details) - shares	Sep. 30, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Reserved shares of common stock (in shares)	16,321,328	14,525,828
Issuances under stock incentive plan
Class of Stock [Line Items]
Reserved shares of common stock (in shares)	8,249,031	6,972,376
Issuances upon exercise of common stock warrants
Class of Stock [Line Items]
Reserved shares of common stock (in shares)	137,658	272,001
Issuances upon vesting of restricted stock units
Class of Stock [Line Items]
Reserved shares of common stock (in shares)	6,422,809	2,523,122
Issuances of convertible notes
Class of Stock [Line Items]
Reserved shares of common stock (in shares)	516,758	686,926
Shares reserved for shares available to be granted but not granted yet
Class of Stock [Line Items]
Reserved shares of common stock (in shares)	995,072	4,071,403

Warrants (Details) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Class of Warrant or Right [Line Items]
Number of shares to purchase under warrants (in shares)	137,658	272,001
Minimum
Class of Warrant or Right [Line Items]
Exercise price or warrants (in usd per share)	$ 0.01
Maximum
Class of Warrant or Right [Line Items]
Exercise price or warrants (in usd per share)	$ 11.96

Equity Incentive Plan - Narrative (Details) - USD ($)			3 Months Ended	9 Months Ended	12 Months Ended
Equity Incentive Plan - Narrative (Details) - USD ($)	Jan. 05, 2022	Sep. 01, 2021	Jun. 30, 2022	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Grant date fair value percentage				100.00%
Vesting period				4 years
Expiration period				10 years
Shares authorized for issuance (in shares)				27,294,447
Shares available for issuance (in shares)				995,072
Stock options granted, weighted average grant date fair value (in usd per share)				$ 8.33
Intrinsic value (in usd per share)				$ 9.51
Consideration, indemnity escrow, term				15 months
Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Service period				3 years
Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Service period				4 years
Jiobit
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Consideration, indemnity escrow, term		15 months
Transaction related expenses		$ 1,000,000
Tile
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Excluded consideration, share-based compensation (in shares)	1,499,349
Awards forfeited (in shares)			787,446
Excluded consideration, shares granted (in shares)	1,561
Purchase consideration (in shares)	694,672
Purchase consideration	$ 13,700,000
Consideration, indemnity escrow (in shares)	84,360
Consideration, indemnity escrow, term	15 months
Transaction related expenses	$ 1,700,000
10% Stockholder
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Grant date fair value percentage				110.00%
Expiration period				5 years
Stock options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period				4 years
Unrecognized compensation expense, period for recognition				3 years	2 years 7 months 6 days
Unrecognized compensation expense, stock options				$ 10,900,000	$ 7,000,000
Stock options \| Tranche one
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting percentage				25.00%
Stock options \| Tranche two
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting percentage, monthly				2.08%
Stock options \| Jiobit
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized compensation expense, period for recognition				2 years 1 month 6 days	2 years
Excluded consideration, share-based compensation (in shares)		43,083
Excluded consideration, share-based compensation		$ 500,000
Unrecognized compensation expense, stock options				$ 200,000	$ 500,000
Stock options \| Tile
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Excluded consideration, share-based compensation (in shares)	38,730
Excluded consideration, share-based compensation	$ 400,000
Terminated stock options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expiration period				3 months
Restricted stock \| Jiobit
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period		3 years
Excluded consideration, revesting stock (in shares)		91,217
Excluded consideration, revesting stock		$ 1,900,000
Unrecognized compensation expense, other awards				$ 200,000	$ 1,700,000
Unrecognized compensation expense, period for recognition				1 year 10 months 24 days	2 years 8 months 12 days
Restricted stock \| Tile
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized compensation expense, other awards				$ 81,100
Unrecognized compensation expense, period for recognition				1 year 9 months 18 days
Grants in period, aggregate fair value				$ 30,000
Service period				30 months
Restricted stock units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized compensation expense, other awards					$ 26,600,000	$ 51,900,000
Unrecognized compensation expense, period for recognition				2 years 8 months 12 days	3 years 2 months 12 days
Awards forfeited (in shares)				1,641,314
Restricted stock units \| Tile
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized compensation expense, other awards				$ 6,900,000
Unrecognized compensation expense, period for recognition				1 year 8 months 12 days
Excluded consideration, share-based compensation (in shares)	1,499,349			711,903
Excluded consideration, share-based compensation	$ 29,600,000
Restricted stock units \| Tile \| Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period				2 years
Restricted stock units \| Tile \| Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period				4 years
Performance shares \| Tile
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period	2 years
Excluded consideration, share-based compensation (in shares)	787,446
Excluded consideration, share-based compensation	$ 15,600,000

Equity Incentive Plan - Stock Option Activity (Details) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares
Number of Shares Underlying Outstanding Options
Balance (in shares) \| shares	6,972,376
Options granted (in shares) \| shares	1,908,934
Options exercised (in shares) \| shares	(393,378)
Options cancelled/forfeited (in shares) \| shares	(238,901)
Balance (in shares) \| shares	8,249,031	6,972,376
Exercisable (in shares) \| shares	5,357,424
Weighted Average Exercise Price Per Share
Balance (in usd per share) \| $ / shares	$ 5.61
Options granted (in usd per share) \| $ / shares	11.93
Options exercised (in usd per share) \| $ / shares	5.00
Options cancelled/forfeited (in usd per share) \| $ / shares	7.26
Balance (in usd per share) \| $ / shares	7.05	$ 5.61
Exercisable (in usd per share) \| $ / shares	$ 4.81
Weighted Average Remaining Contractual Life, Balance	5 years 10 months 2 days	6 years 8 months 15 days
Weighted Average Remaining Contractual Life, Exercisable	5 years 8 months 4 days
Aggregate Intrinsic Value, Balance \| $	$ 29,859	$ 108,426
Aggregate Intrinsic Value, Exercisable \| $	$ 26,823

Equity Incentive Plan - Restricted Stock Units Activity (Details) - Restricted stock units	9 Months Ended
	Sep. 30, 2022 $ / shares shares
Number of Shares
Balance (in shares) \| shares	2,523,122
RSU granted (in shares) \| shares	6,351,009
RSU vested and settled (in shares) \| shares	(810,008)
RSU cancelled/forfeited (in shares) \| shares	(1,641,314)
Balance (in shares) \| shares	6,422,809
Weighted average grant date fair value
Balance (in usd per share) \| $ / shares	$ 11.53
RSU granted (in usd per share) \| $ / shares	11.76
RSU vested and settled (in usd per share) \| $ / shares	9.43
RSU cancelled/forfeited (in usd per share) \| $ / shares	13.78
Balance (in usd per share) \| $ / shares	$ 11.40

Equity Incentive Plan - Fair Value Assumptions (Details) - Stock options	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term	3 years 10 months 13 days	4 years 2 months 26 days
Expected volatility	65.00%	49.00%
Risk-free interest rate	2.22%	0.68%
Expected dividend rate	0.00%	0.00%

Equity Incentive Plan - Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 7,963	$ 3,260	$ 24,487	$ 8,400
Cost of revenue
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	311	113	1,132	353
Cost of revenue \| Subscription
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	117	97	553	301
Cost of revenue \| Hardware
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	127	0	409	0
Cost of revenue \| Other
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	67	16	170	52
Research and development
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	4,222	2,164	13,133	5,448
Sales and marketing
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	935	174	3,106	464
General and administrative
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 2,495	$ 809	$ 7,116	$ 2,135

Income Taxes (Details) - USD ($)	3 Months Ended		9 Months Ended
Income Taxes (Details) - USD ($)	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Provision (benefit) for income taxes	$ 73,000	$ (144,400)	$ 84,000	$ (144,400)
Income tax benefit, partial release of valuation allowance	0	211,200	96,000	211,200
Income tax expense, state and foreign income taxes	$ 180,000	$ 66,800	$ 180,000	$ 66,800

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

Related-Party Transactions (Details) - USD ($)	3 Months Ended
Related-Party Transactions (Details) - USD ($)	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2022	Dec. 31, 2021	Feb. 29, 2016
Chief Executive Officer
Related Party Transaction [Line Items]
Secured notes related party					$ 600,000
Proceeds from repayment of notes	$ 600,000
Deposit liabilities			$ 300,000	$ 700,000
Director
Related Party Transaction [Line Items]
Related party expenses		$ 100,000
Spouse of Chief Executive Officer
Related Party Transaction [Line Items]
Related party expenses		$ 6,500

Net Loss Per Share - Computation (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Earnings Per Share [Abstract]
Net loss, basic	$ (21,119)	$ (8,014)	$ (79,326)	$ (18,670)
Net loss, diluted	$ (21,119)	$ (8,014)	$ (79,326)	$ (18,670)
Weighted-average shares used in computing net loss per share, basic (in shares)	62,173,588	51,217,286	61,753,532	50,608,146
Weighted-average shares used in computing net loss per share, diluted (in shares)	62,173,588	51,217,286	61,753,532	50,608,146
Net loss per share, basic (in usd per share)	$ (0.34)	$ (0.16)	$ (1.28)	$ (0.37)
Net loss per share, diluted (in usd per share)	$ (0.34)	$ (0.16)	$ (1.28)	$ (0.37)

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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