0001625278-24-000030 | 10-K | XBRL Viewer

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Stockholders' Equity - Equity Incentive Plan Narrative (Details) - shares shares in Millions	Nov. 08, 2021	May 25, 2022
Common Class A \| 2021 Equity Incentive Plan
Class of Stock [Line Items]
Shares reserved for Class F common stock (in shares)		8.0
Stock Options \| Share-Based Payment Arrangement, Employee, Owning Greater Than 10% Of Company Stock \| 2021 Equity Incentive Plan and Inducement Plan
Class of Stock [Line Items]
Percentage of stock owned by single individual	10.00%
Stock Options \| Common Class A \| 2021 Equity Incentive Plan
Class of Stock [Line Items]
Number of shares authorized (in shares)	4.1
Annual increase in shares authorized, percentage	5.00%
Stock Options \| Common Class A \| Inducement Plan
Class of Stock [Line Items]
Award vesting period in years	4 years
Award expiration period in years	10 years
Stock Options \| Common Class A \| Minimum \| 2021 Equity Incentive Plan and Inducement Plan
Class of Stock [Line Items]
Purchase price of common stock, percentage	100.00%
Stock Options \| Common Class A \| Share-Based Payment Arrangement, Employee, Owning Greater Than 10% Of Company Stock \| Minimum \| 2021 Equity Incentive Plan and Inducement Plan
Class of Stock [Line Items]
Purchase price of common stock, percentage	110.00%
Stock Options \| Common Class A \| Share-based Payment Arrangement, Tranche One \| Inducement Plan
Class of Stock [Line Items]
Award vesting rights percentage	25.00%

Business Combination - Narrative (Details) $ in Millions		12 Months Ended
Business Combination - Narrative (Details) $ in Millions	Jul. 11, 2022 USD ($) employee	Dec. 31, 2022 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2021 USD ($)
Asset Acquisition [Line Items]
Goodwill		$ 111.2	$ 111.5	$ 43.8
On the Barrelhead, Inc.
Asset Acquisition [Line Items]
Deferred tax liability	$ 12.1
Goodwill	68.1
Acquisition related costs		$ 3.5
On the Barrelhead, Inc. \| Restricted Stock Units (RSUs)
Asset Acquisition [Line Items]
Restricted stock awards granted	17.5
On the Barrelhead, Inc. \| Co-founders
Asset Acquisition [Line Items]
Deferred compensation expense	15.0
On the Barrelhead, Inc. \| Co-founders \| Restricted Stock Units (RSUs)
Asset Acquisition [Line Items]
Restricted stock awards granted	12.8
On the Barrelhead, Inc. \| Non-management Employees \| Restricted Stock Units (RSUs)
Asset Acquisition [Line Items]
Restricted stock awards granted	$ 2.3
Number of employees \| employee	6
Award vesting period in years	4 years
On the Barrelhead, Inc. \| Non-management Employees \| Restricted Stock Units (RSUs) \| First, Second And Third Vesting Year
Asset Acquisition [Line Items]
Award vesting rights percentage	20.00%
On the Barrelhead, Inc. \| Non-management Employees \| Restricted Stock Units (RSUs) \| Fourth Vesting Year
Asset Acquisition [Line Items]
Award vesting rights percentage	40.00%
On the Barrelhead, Inc. \| Employees \| Restricted Stock Units (RSUs)
Asset Acquisition [Line Items]
Restricted stock awards granted	$ 2.4
Number of employees \| employee	14
Compensation expense recognition period	3 years
On the Barrelhead, Inc. \| Employees \| Restricted Stock Units (RSUs) \| Maximum
Asset Acquisition [Line Items]
Award vesting period in years	4 years
On the Barrelhead, Inc. \| Employees \| Restricted Stock Units (RSUs) \| Minimum
Asset Acquisition [Line Items]
Award vesting period in years	1 year
On the Barrelhead, Inc. \| Common Class A
Asset Acquisition [Line Items]
Stock consideration lockup arrangement period	24 months

Fair Value Measurements

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Fair Value Measurements

The Company’s assets and liabilities that are measured at fair value on a recurring basis, by level, within the fair value hierarchy are summarized as follows:


(in millions)	Quoted Prices in Active Markets (Level 1)		Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Carrying Value
As of December 31, 2023
Assets:
Cash and cash equivalents—money market funds	$	89.8	$	—	$	—	$	89.8
Certificate of deposit	—		2.1		—		2.1
	$	89.8	$	2.1	$	—	$	91.9


(in millions)	Quoted Prices in Active Markets (Level 1)		Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Carrying Value
As of December 31, 2022
Assets:
Cash and cash equivalents—money market funds	$	75.4	$	—	$	—	$	75.4
Certificate of deposit	—		2.0		—		2.0
	$	75.4	$	2.0	$	—	$	77.4
Liabilities:
Contingent consideration	$	—	$	—	$	30.9	$	30.9

Level 3 liabilities previously consisted entirely of contingent consideration, and the changes in fair values were as follows:


(in millions)
Year Ended December 31,	2023		2022
Balance as of beginning of year	$	30.9	$	54.7
Payment	(30.9)		(30.5)
Change in fair value, recognized in earnings	—		6.7
Balance as of end of year	$	—	$	30.9

Contingent consideration liabilities related to acquisitions were measured at fair value each reporting period using Level 3 unobservable inputs. The contingent consideration liability was the estimated fair value of the earnout payments for the Fundera, Inc. (Fundera) and Know Your Money (KYM) business combinations in 2020.

As of December 31, 2022, Fundera’s revenue and profitability milestones for 2022 were achieved and the contingent consideration liability was recorded at the full payout amount, with the contingent consideration liability paid in full during 2023. The fair values of the estimated contingent considerations were previously determined based on the Company’s evaluation of the probability and amount of earnout that would be achieved based on expected future performance by the acquired entity.

- Definition

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.

+ References + Details

Significant Consolidated Balance Sheet Components - Property, Equipment and Software (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Total property, equipment and software	$ 128,300,000	$ 116,500,000
Accumulated depreciation and amortization	(75,700,000)	(67,400,000)
Total property, equipment and software—net	52,600,000	49,100,000
Capitalized software development costs	34,000,000	34,100,000	$ 24,200,000
Amortization of capitalized software	28,900,000	22,100,000	16,700,000
Depreciation and amortization expense excluding capitalized software	2,300,000	1,900,000	2,400,000
Capitalized software development costs
Property, Plant and Equipment [Line Items]
Total property, equipment and software	120,100,000	105,700,000
Loss on disposal of capitalized software development costs	0	0	$ 800,000
Office equipment
Property, Plant and Equipment [Line Items]
Total property, equipment and software	4,400,000	6,700,000
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total property, equipment and software	1,500,000	1,800,000
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property, equipment and software	$ 2,300,000	$ 2,300,000

Employee Benefit Plan (Details) - USD ($) $ in Millions	12 Months Ended
Employee Benefit Plan (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Retirement Benefits [Abstract]
Matching contributions	$ 4.8	$ 4.3	$ 3.5

Significant Consolidated Balance Sheet Components - Other Noncurrent Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Significant Consolidated Balance Sheet Components [Abstract]
Unrecognized tax benefit liability	$ 7.2	$ 0.4
Operating lease liabilities	6.2	9.6
Deferred tax liability, net	0.7	1.2
Other noncurrent liabilities	0.3	0.4
Total other liabilities—noncurrent	$ 14.4	$ 11.6

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets:
Accruals and reserves	$ 2.0	$ 2.1
Federal and state tax credits	11.0	14.0
Stock-based compensation	4.7	3.9
Capitalized research and development expenses	42.7	22.2
Net operating loss carryforwards	3.9	4.1
Lease liabilities	2.4	3.1
Other	0.0	0.1
Total gross deferred tax assets	66.7	49.5
Deferred tax liabilities:
Prepaid expense and other	(0.4)	(0.6)
Right-of-use assets	(1.8)	(2.8)
Basis difference for fixed assets and intangibles	(25.1)	(28.0)
Total gross deferred tax liabilities	(27.3)	(31.4)
Valuation allowance for deferred tax assets	40.1	19.3
Net deferred tax liability	$ (0.7)	$ (1.2)

Stockholders' Equity - Share Repurchase Plan Narrative (Details) - Common Class A - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2021	Oct. 26, 2023	May 02, 2023
Class of Stock [Line Items]
Stock repurchase program, authorized amount				$ 20.0
Stock repurchase program, additional authorized amount			$ 30.0
Repurchase of Class A common stock (in shares)	2.3
Repurchase of Class A common stock	$ 20.0	$ 0.5

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Pay vs Performance Disclosure - USD ($) $ in Millions	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net loss	$ (11.8)	$ (10.2)	$ (42.5)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

Reference 32: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-7

Reference 35: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482740/230-10-45-28

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1A

Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1B

Reference 38: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 39: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

Debt - Lines of Credit Narrative (Details)				1 Months Ended	12 Months Ended
Debt - Lines of Credit Narrative (Details)	Sep. 26, 2023 USD ($) subsidiary	Sep. 25, 2023 USD ($)	Jul. 07, 2022 USD ($)	Nov. 30, 2021 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2017 USD ($)
Line of Credit Facility [Line Items]
Proceeds from line of credit					$ 7,500,000	$ 70,000,000.0	$ 0
Subordinated Promissory Note \| Co-founder
Line of Credit Facility [Line Items]
Interest rate percentage								4.2922%
Subordinated promissory note								$ 28,500,000
Repayments of related party debt				$ 28,500,000
Gain on extinguishment of debt					1,500,000
Revolving Credit Facility \| Credit Agreement
Line of Credit Facility [Line Items]
Number of wholly-owned subsidiaries, debt counterparties \| subsidiary	3
Revolving Credit Facility \| Credit Agreement \| Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 125,000,000	$ 100,000,000			125,000,000	100,000,000
Unused capacity commitment fee percentage		0.30%
Line of credit amount outstanding					0
Remaining borrowing capacity					123,700,000	$ 98,300,000
Proceeds from line of credit			$ 70,000,000
Debt covenant, period to furnish audited financial statements after qualified IPO						90 days
Revolving Credit Facility \| Credit Agreement \| Line of Credit \| Secured Overnight Financing Rate With 1-month Interest Periods
Line of Credit Facility [Line Items]
Interest rate percentage		0.10%
Revolving Credit Facility \| Credit Agreement \| Line of Credit \| Secured Overnight Financing Rate SOFR
Line of Credit Facility [Line Items]
Interest rate percentage		1.00%
Revolving Credit Facility \| Credit Agreement \| Line of Credit \| Secured Overnight Financing Rate With 3-month Interest Periods
Line of Credit Facility [Line Items]
Interest rate percentage		0.15%
Revolving Credit Facility \| Credit Agreement \| Line of Credit \| Secured Overnight Financing Rate With 6-month Interest Periods
Line of Credit Facility [Line Items]
Interest rate percentage		0.25%
Revolving Credit Facility \| Credit Agreement \| Line of Credit \| Minimum
Line of Credit Facility [Line Items]
Unused capacity commitment fee percentage	0.25%
Revolving Credit Facility \| Credit Agreement \| Line of Credit \| Minimum \| Margin Percentage
Line of Credit Facility [Line Items]
Basis spread on variable interest rate		2.75%
Revolving Credit Facility \| Credit Agreement \| Line of Credit \| Maximum
Line of Credit Facility [Line Items]
Unused capacity commitment fee percentage	0.35%
Revolving Credit Facility \| Credit Agreement \| Line of Credit \| Maximum \| Margin Percentage
Line of Credit Facility [Line Items]
Basis spread on variable interest rate		3.00%
Revolving Credit Facility \| Credit Agreement, Alternative Base Rate Loans \| Line of Credit \| Fed Funds Effective Rate Overnight Index Swap Rate
Line of Credit Facility [Line Items]
Basis spread on variable interest rate	0.50%	0.50%
Revolving Credit Facility \| Credit Agreement, Alternative Base Rate Loans \| Line of Credit \| Secured Overnight Financing Rate Reference Rate Plus
Line of Credit Facility [Line Items]
Basis spread on variable interest rate	0.50%
Revolving Credit Facility \| Credit Agreement, Alternative Base Rate Loans \| Line of Credit \| Secured Overnight Financing Rate With 1-month Interest Periods
Line of Credit Facility [Line Items]
Basis spread on variable interest rate	1.00%
Revolving Credit Facility \| Credit Agreement, Alternative Base Rate Loans \| Line of Credit \| Prime Rate
Line of Credit Facility [Line Items]
Basis spread on variable interest rate		3.25%
Revolving Credit Facility \| Credit Agreement, Alternative Base Rate Loans \| Line of Credit \| Minimum \| Margin Percentage
Line of Credit Facility [Line Items]
Basis spread on variable interest rate		1.75%
Revolving Credit Facility \| Credit Agreement, Alternative Base Rate Loans \| Line of Credit \| Maximum \| Margin Percentage
Line of Credit Facility [Line Items]
Basis spread on variable interest rate		2.00%
Revolving Credit Facility \| Credit Agreement Term Benchmark Loans \| Line of Credit \| Secured Overnight Financing Rate SOFR
Line of Credit Facility [Line Items]
Basis spread on variable interest rate	0.10%
Revolving Credit Facility \| Credit Agreement Term Benchmark Loans \| Line of Credit \| Minimum \| Margin Percentage
Line of Credit Facility [Line Items]
Basis spread on variable interest rate	2.25%
Revolving Credit Facility \| Credit Agreement Term Benchmark Loans \| Line of Credit \| Maximum \| Margin Percentage
Line of Credit Facility [Line Items]
Basis spread on variable interest rate	2.75%
Letter of Credit \| Credit Agreement \| Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 10,000,000	$ 10,000,000
Line of credit facility, accordion feature, increase limit	75,000,000	25,000,000
Line of credit amount outstanding					$ 1,300,000	$ 1,700,000
Bridge Loan \| Credit Agreement \| Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 10,000,000	$ 10,000,000

Stockholders' Equity - Common Stock Narrative (Details) $ / shares in Units, $ in Millions		12 Months Ended
	Nov. 08, 2021 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) vote $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($)
Class of Stock [Line Items]
Common stock, authorized (in shares)	296,700,000	296,686,000	296,686,000
Common stock, par value (in dollars per shares) \| $ / shares	$ 0.0001	$ 0.0001	$ 0.0001
Common stock, issued (in shares)		76,940,000	75,120,000
Common stock, outstanding (in shares)		76,940,000	75,120,000
Proceeds from issuance of common stock upon initial public offering, net of underwriting discounts and commissions \| $	$ 140.0	$ 0.0	$ 0.0	$ 140.0
Stock issuance underwriting discounts and commissions \| $		$ 0.0	$ 1.0	$ 4.0
Common Class A
Class of Stock [Line Items]
Common stock, authorized (in shares)	265,000,000
Number of votes per share \| vote		1
Common stock, issued (in shares)		45,300,000	43,400,000
Common stock, outstanding (in shares)		45,300,000	43,400,000
Common Class A \| IPO
Class of Stock [Line Items]
Number of shares sold (in shares)	8,300,000
Shares sold price (in dollars per share) \| $ / shares	$ 18.00
Stock issuance underwriting discounts and commissions \| $	$ 10.1
Offering costs \| $	$ 5.2
Common Class A \| Private Placement
Class of Stock [Line Items]
Number of shares sold (in shares)	1,100,000
Common Class B
Class of Stock [Line Items]
Common stock, authorized (in shares)	31,700,000
Shares issued upon conversion of common stock (in shares)	31,700,000
Number of votes per share \| vote		10
Common stock, issued (in shares)		31,700,000	31,700,000
Common stock, outstanding (in shares)		31,700,000	31,700,000
Common Class G
Class of Stock [Line Items]
Number of votes per share \| vote		0

Business Combination - Schedule of Indefinite-lived Intangible Assets Acquired as Part of Business Combination (Details) - On the Barrelhead, Inc. $ in Millions	Jul. 11, 2022 USD ($)
Asset Acquisition [Line Items]
Fair Value	$ 50.1
Weighted-Average Useful Life (Years)	4 years 10 months 24 days
Developed technology
Asset Acquisition [Line Items]
Fair Value	$ 48.9
Weighted-Average Useful Life (Years)	5 years
Customer relationships
Asset Acquisition [Line Items]
Fair Value	$ 1.2
Weighted-Average Useful Life (Years)	1 year

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2023
Auditor Information [Abstract]
Auditor Name	Deloitte & Touche LLP
Auditor Location	San Jose, California
Auditor Firm ID	34

Leases - Lease Term and Discount Rate (Details)	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Weighted-average remaining lease term (years)	4 years	4 years 7 months 6 days
Weighted-average discount rate	5.30%	5.30%

The Company and its Significant Accounting Policies - Property, Plant and Software, Net Narrative (Details)	Dec. 31, 2023
Computers and Equipment
Property, Plant and Equipment [Line Items]
Property, equipment and software useful life	3 years
Capitalized software development costs
Property, Plant and Equipment [Line Items]
Property, equipment and software useful life	3 years
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, equipment and software useful life	5 years

Income Taxes - Provision For (Benefit From) Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current:
Federal	$ 13.8	$ 2.0	$ 0.0
State	4.8	1.9	0.7
Foreign	0.0	0.1	0.0
Total	18.6	4.0	0.7
Deferred:
Federal	0.0	(12.3)	4.9
State	0.0	(1.6)	(0.2)
Foreign	(0.5)	0.1	(0.6)
Total	(0.5)	(13.8)	4.1
Provision for (benefit from) income taxes	$ 18.1	$ (9.8)	$ 4.8

Goodwill and Intangible Assets - Goodwill (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Goodwill [Roll Forward]
Balance as of beginning of year	$ 111.2	$ 43.8
Acquisition of OTB	0.0	68.1
Foreign currency translation adjustment	0.3	(0.7)
Balance as of end of year	$ 111.5	$ 111.2

- Definition

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.

+ References + Details

Net Loss Per Basic and Diluted Share (Tables)

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table provides a reconciliation of the numerators and denominators of the basic and diluted per share computations for net loss attributable to common stockholders:


(in millions, except per share amounts)
Year Ended December 31,	2023		2022		2021
Numerator:
Net loss attributable to common stockholders–basic and diluted	$	(11.8)	$	(10.2)	$	(42.5)
Denominator:
Weighted-average shares of common stock–basic and diluted	76.7		70.6		51.9
Net loss per share attributable to common stockholders:
Basic	$	(0.15)	$	(0.14)	$	(0.82)
Diluted	$	(0.15)	$	(0.14)	$	(0.82)

Schedule of Antidilutive Securities Excluded from Computation of Diluted Net Loss Per Share

The following common stock equivalents were excluded from the computation of diluted net loss per share for the periods presented because including them would have been antidilutive:


(in millions)
Year Ended December 31,	2023	2022	2021
Shares subject to outstanding stock options and restricted stock units	8.9	9.6	5.0
Employee stock purchase plan	0.3	1.4	0.6

Significant Consolidated Balance Sheet Components - Accrued and Current Other Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Significant Consolidated Balance Sheet Components [Abstract]
Unbilled accounts payable	$ 21.2	$ 26.1
Accrued compensation	4.5	5.6
Deferred revenue	4.1	0.0
Operating lease liabilities	3.4	3.1
Deferred compensation liability related to earnouts	0.0	1.7
Other accrued expenses	2.4	1.4
Total accrued expenses and other current liabilities	$ 35.6	$ 37.9

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) $ in Millions	Total	Conversion of Series A redeemable convertible preferred stock to Class A common stock	Conversion of Series A redeemable convertible preferred stock to Class A common stock upon initial public offering	Stock Options	Common Class A	Common Class F	Common Stock	Common Stock Conversion of Series A redeemable convertible preferred stock to Class A common stock	Common Stock Conversion of Series A redeemable convertible preferred stock to Class A common stock upon initial public offering	Common Stock Common Class A	Common Stock Common Class F	Additional Paid-in Capital	Additional Paid-in Capital Conversion of Series A redeemable convertible preferred stock to Class A common stock	Additional Paid-in Capital Conversion of Series A redeemable convertible preferred stock to Class A common stock upon initial public offering	Additional Paid-in Capital Common Class A	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit	Accumulated Deficit Stock Options	Accumulated Deficit Common Class A	Accumulated Deficit Common Class F
Beginning balance (in shares) at Dec. 31, 2020							48,853,000
Beginning balance at Dec. 31, 2020	$ 82.7						$ 0.0					$ 99.8				$ 0.6	$ (17.7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A common stock upon initial public offering (in shares)							8,338,000
Issuance of Class A common stock upon initial public offering	134.8											134.8
Issuance of Class A common stock upon exercise of stock options (in shares)							2,322,000
Issuance of Class A common stock upon exercise of stock options	11.0											11.0
Issuance of Class A common stock pursuant to settlement of restricted stock units (in shares)							647,000
Issuance of Class A common stock pursuant to settlement of restricted stock units	0.0
Class A common stock surrendered for employees’ tax liability upon settlement of restricted stock units (in shares)							(96,000)
Class A common stock surrendered for employees’ tax liability upon settlement of restricted stock units	(1.9)											(1.9)
Issuance of shares in conversion (in shares)								58,000	7,527,000
Issuance of shares in conversion		$ 0.5	$ 66.2										$ 0.5	$ 66.2
Repurchase of stock options				$ (1.4)														$ (1.4)
Repurchase of early exercised stock options (in shares)							(3,000)
Repurchase of common stock (in shares)										(41,000)	(883,000)
Repurchase of common stock					$ (0.5)	$ (12.4)													$ (0.5)	$ (12.4)
Stock-based compensation	21.2											21.2
Other comprehensive (loss) income	(0.1)															(0.1)
Net loss	(42.5)																(42.5)
Ending balance (in shares) at Dec. 31, 2021							66,722,000
Ending balance at Dec. 31, 2021	257.6						$ 0.0					331.6				0.5	(74.5)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A common stock upon exercise of stock options (in shares)							1,346,000
Issuance of Class A common stock upon exercise of stock options	7.7											7.7
Vesting of early exercised stock options	0.2											0.2
Issuance of Class A common stock pursuant to settlement of restricted stock units (in shares)							1,521,000
Issuance of Class A common stock pursuant to settlement of restricted stock units	0.0
Class A common stock withheld related to net share settlement of restricted stock units (in shares)										(44,000)
Class A common stock withheld related to net share settlement of restricted stock units					$ (0.6)										$ (0.6)
Issuance of Class A common stock under Employee Stock Purchase Plan (in shares)							640,000
Issuance of Class A common stock under Employee Stock Purchase Plan	4.5											4.5
Issuance of Class A common stock for business combination (in shares)							4,935,000
Issuance of Class A common stock for business combination	43.2											43.2
Stock-based compensation	40.7											40.7
Other comprehensive (loss) income	(1.4)															(1.4)
Net loss	$ (10.2)																(10.2)
Ending balance (in shares) at Dec. 31, 2022	75,120,000				43,400,000		75,120,000
Ending balance at Dec. 31, 2022	$ 341.7						$ 0.0					427.3				(0.9)	(84.7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A common stock upon exercise of stock options (in shares)				1,584,000			1,584,000
Issuance of Class A common stock upon exercise of stock options	10.2											10.2
Issuance of Class A common stock pursuant to settlement of restricted stock units (in shares)							2,253,000
Issuance of Class A common stock pursuant to settlement of restricted stock units	0.0
Repurchase of common stock (in shares)					(2,300,000)					(2,268,000)
Repurchase of common stock					$ (20.0)														$ (20.0)
Class A common stock withheld related to net share settlement of restricted stock units (in shares)										(95,000)
Class A common stock withheld related to net share settlement of restricted stock units					$ (1.1)										$ (1.1)
Issuance of Class A common stock under Employee Stock Purchase Plan (in shares)							346,000
Issuance of Class A common stock under Employee Stock Purchase Plan	3.0											3.0
Stock-based compensation	44.3											44.3
Other comprehensive (loss) income	0.6															0.6
Net loss	$ (11.8)																(11.8)
Ending balance (in shares) at Dec. 31, 2023	76,940,000				45,300,000		76,940,000
Ending balance at Dec. 31, 2023	$ 366.9						$ 0.0					$ 483.7				$ (0.3)	$ (116.5)

Fair Value Measurements - Level 3 Liabilities (Details) - Contingent Consideration - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance as of beginning of year	$ 0.0	$ 30.9	$ 54.7
Payment	(30.9)	(30.5)
Change in fair value, recognized in earnings	0.0	6.7
Balance as of end of year	$ 0.0	$ 30.9

The Company and its Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP).
Consolidation	The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. Certain comparative amounts for the prior fiscal year have been reclassified to conform to the financial statement presentation as of and for the year ended December 31, 2023.
Segments	Operating segments are defined as components of an enterprise for which discrete financial information is available that is reviewed regularly by the Chief Operating Decision Maker (CODM) in deciding how to allocate resources and in assessing performance. The Company’s CODM is its Chief Executive Officer, who reviews financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance. As a result, the Company has concluded that it has one operating segment. Significantly all of the Company’s revenue in 2023, 2022 and 2021 was from customers located in the United States. Significantly all of the Company’s long-lived assets as of December 31, 2023 and 2022 were located in the United States.
Use of Estimates	The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Significant estimates and assumptions made by management include determination of stock-based compensation, valuation of embedded derivative, capitalization of software development costs, valuation of contingent consideration, valuation of goodwill and intangible assets, determination of associated useful lives of intangible assets and valuation of deferred tax assets. Management bases its estimates on historical experience and also on assumptions that it believes are reasonable.
Concentrations of Credit Risk	Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. While the Company deposits cash and cash equivalents with high credit quality financial institutions, including First Citizens Bank & Trust Company (through its Silicon Valley Bank division), HSBC and JPMorgan Chase Bank, N.A., to lessen the Company’s exposure, such cash deposits may exceed federally insured limits at these financial institutions.
Foreign Currency Transactions	The functional currency of the Company’s foreign subsidiaries is the respective local currency. All assets and liabilities accounts of the Company’s foreign subsidiaries are translated into U.S. dollars using the exchange rate on the balance sheet date. Equity transactions are translated using historical exchange rates. Revenues and expenses are translated at average rates prevailing throughout the period. Translation adjustments are included as a separate component on the consolidated statement of comprehensive income (loss), and in effect of exchange rate changes on cash and cash equivalents on the consolidated statement of cash flows. Transaction gains and losses including intercompany transactions denominated in a currency other than the functional currency of the entity involved are included in other gains (losses), net on our consolidated statement of operations and were immaterial for all periods presented.
Cash and Cash Equivalents	Cash and cash equivalents include on demand deposits and money market funds with banks that have remaining maturities at the date of purchase of less than 90 days.
Fair Value Measurements	The Company determines fair value based upon the exit price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants, as determined by either the principal market or the most advantageous market. Inputs used in the valuation techniques to derive fair values are classified based on a three-level hierarchy. These levels are: Level 1—Quoted prices (unadjusted) in active markets that are accessible at the measurement date for identical assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs. Level 2—Observable inputs other than quoted prices included within Level 1, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; and inputs other than quoted prices that are observable or are derived principally from, or corroborated by, observable market data by correlation or other means. Level 3—Unobservable inputs are used when little or no market data is available. The fair value hierarchy gives the lowest priority to Level 3 inputs. The Company recognizes transfers among Level 1, Level 2 and Level 3 classifications as of the actual date of the events or change in circumstances that caused the transfers.
Trade Accounts Receivable	Trade accounts receivable are recorded at the invoiced amount or amounts due from customers via affiliate relationships at the end of each month. Invoiced amounts do not bear interest. The Company generally does not require collateral or other security in support of accounts receivable. Accounts receivable are past due when they are outstanding longer than the contractual payment terms. The Company determines an allowance for credit losses by considering available information, including the length of time accounts receivable are past due, previous loss history, and reasonable and supportable expectations regarding the specific customer’s ability to pay its financial obligations. If the Company becomes aware of changes in circumstances that are indicative of a customer’s inability to meet its financial obligations, such as in the case of bankruptcy, deterioration in operating results or changes in financial position, estimates of the allowance for credit losses are further adjusted.
Property, Equipment and Software, Net	Property, equipment, and software 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, which are generally three years for computers and equipment, three years for software, and five years for furniture and fixtures. Leasehold improvements are amortized using the straight-line method over the shorter of the estimated useful lives of the assets or the term of the related lease. Expenditures for repairs and maintenance are charged to expense as incurred. Upon disposition or retirement, the cost and related accumulated depreciation are removed from the accounts and the resulting gain or loss, if any, is reflected as operating expenses in the consolidated statement of operations.
Capitalized Software Development Costs	The costs incurred in the preliminary stages of website and software development are expensed as incurred. Once an application has reached the development stage, internal and external costs, if direct and incremental and deemed by management to be significant, are capitalized in property and equipment and amortized on a straight-line basis over their estimated useful lives. Maintenance, training and enhancement costs, including those costs in the post-implementation stages, are typically expensed as incurred, unless such costs relate to substantial upgrades and enhancements to the website or software that result in added functionality, in which case the costs are capitalized and amortized on a straight-line basis over the estimated useful lives. Capitalized development activities placed in service are amortized over the expected useful lives of those releases, currently estimated at one to five years. The estimated useful lives of website and software development activities are reviewed frequently and adjusted as appropriate to reflect upcoming development activities that may include significant upgrades and/or enhancements to the existing functionality. Amortization expense is included within cost of revenue in the consolidated statement of operations.
Business Combinations and Contingent Consideration	The Company recognizes identifiable assets acquired and liabilities assumed at their acquisition date fair value. Goodwill as of the acquisition date is measured as the excess of consideration transferred over the net of the acquisition date fair values of the assets acquired and the liabilities assumed. While the Company uses its best estimates and assumptions as a part of the purchase price allocation process to accurately value assets acquired and liabilities assumed at the acquisition date, its estimates are inherently uncertain and subject to refinement. As a result, during the measurement period, which may be up to one year from the acquisition date, the Company records adjustments to the assets acquired and liabilities assumed, with the corresponding offset to goodwill to the extent that the Company identifies adjustments to the preliminary purchase price allocation. Upon the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the consolidated statement of operations.The fair value measurements of contingent consideration liabilities established in connection with business combinations were determined as of the acquisition date based on significant unobservable inputs, including forecasted revenues and costs of the acquired companies, the probability of meeting certain revenue or earnings targets defined in the merger agreements, and the discount rate. Contingent consideration liabilities were remeasured to fair value at each subsequent reporting date until the related contingency was resolved, with the remeasurement adjustment reported in the consolidated statement of operations. Changes to the fair value of the contingent consideration liabilities resulted from changes to one or a number of inputs, including discount rates, the probabilities of achieving the milestones, the time required to achieve the milestones and estimated future sales. Significant judgment was employed in determining the appropriateness of these inputs.
Goodwill	The Company evaluates goodwill for impairment annually or more frequently when an event occurs or circumstances change that indicate the carrying value may not be recoverable. The Company may elect to utilize a qualitative assessment to evaluate whether it is more likely than not that the fair value of a reporting unit is less than its carrying value and if so, the quantitative test is performed. Under the qualitative assessment, factors that are considered include industry and market considerations, overall financial performance and other relevant events and factors affecting the reporting unit. Under the quantitative test, the Company first compares the carrying value of each reporting unit to its estimated fair value and if the fair value is determined to be less than the carrying value, we recognize an impairment loss for the difference.
Intangible Assets	Intangible assets include acquired intangible assets identified through business combinations, which are carried at the estimated fair value recorded upon acquisition less accumulated amortization, and purchased intangible assets, which are carried at cost less accumulated amortization. Intangible assets are amortized on a straight-line basis over their estimated useful lives. Amortization costs for developed technology is included in cost of revenue and amortization for customer relationships, trade names and user base are included in sales and marketing within the consolidated statement of operations. Intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable.
Impairment of Long-Lived Assets	The Company reviews long-lived assets, including property and equipment, capitalized software development costs, intangible assets and right-of-use assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable. Recoverability of assets or asset groups to be held and used is measured first by a comparison of the carrying amount of an asset or asset group to future undiscounted net cash flows expected to be generated by the asset or asset group. If such assets or asset group are considered to be impaired, an impairment loss would be recognized based on the excess of the carrying amount of the asset above the fair value of the asset or asset group.
Revenue Recognition	The Company generates substantially all its revenue through fees paid by its financial services partners in the form of either revenue per action, revenue per click, revenue per lead and revenue per funded loan arrangements. For these revenue arrangements, in which a partner pays only when a consumer satisfies the criteria set forth within the arrangement, revenue is recognized generally when the Company matches the consumer with the financial services partner. For some of the Company’s arrangements, the transaction price is considered variable and an estimate of the transaction price is recorded when the match occurs. Under revenue recognition guidance, revenue is recognized when performance obligations under the terms of a contract with a customer are satisfied and promised goods and services have transferred to the customer, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. For revenue generated from revenue per action or revenue per funded loan arrangements in which fees are earned from customers for approved actions such as when credit cards are issued to consumers or when loans to consumers are funded, the Company’s contractual right to fees is not contemporaneous with the satisfaction of the performance obligation to match the consumer with the customer. As such, the Company records a contract asset at the end of each reporting period related to the estimated variable consideration on fees for which the Company has satisfied the related performance obligation but are still pending the financial product approval before the Company has a contractual right to payment. This estimate is based on the Company’s historical closing rates and historical time between when a consumer request for a financial product is delivered to the customer and when the financial product is approved by the customer. The time between satisfaction of the Company’s performance obligation and when the Company’s right to consideration becomes unconditional is generally less than 90 days and no significant judgment is required in determining whether the estimate of variable consideration should be constrained. The Company records a deferred revenue liability for fees received related to unsatisfied performance obligations at the end of each reporting period, with the performance obligations expected to be satisfied in the following reporting period. For revenue generated from revenue per lead or revenue per click in which fees are earned from customers when a consumer clicks on a tagged link to the customer’s website or lead is delivered to the customer, the Company’s contractual right to fees is contemporaneous with the satisfaction of the performance obligation to match the consumer with the customer. The Company’s services are generally transferred to the customer at a point in time, when the performance obligation is met. The Company’s payment terms vary by customer and verticals. The term between invoicing and when payment is due is generally 30 days or less. Cost of Revenue—Cost of revenue consists primarily of amortization expense associated with capitalized software development costs and developed technology; credit scoring fees and account linking fees; and third-party data center costs.
Research and Development	Research and development expenses primarily consist of personnel related costs, technology and facility-related expenses and contractor expense for our engineering, product management, data and other personnel engaged in maintaining and enhancing the functionality of our platform. Research and development costs are expensed as incurred.
Sales and Marketing	Sales and marketing expenses include advertising and promotion costs, costs related to brand campaign fees, marketing, business operations team and editorial personnel and related costs, including stock-based compensation. Advertising is expensed as incurred.
Leases	The Company leases real estate facilities and general office equipment under operating leases expiring at various dates through 2029. The Company’s right-of-use (ROU) assets and lease liabilities are recognized at commencement date based on the present value of remaining lease payments over the lease term, which may include options to extend or terminate the lease when it is reasonably certain the Company will exercise such options. At inception of the lease, the Company is not reasonably certain that any available lease extensions or renewal terms will be exercised. For this purpose, the Company considered lease term and only payments that are fixed and determinable at the time of commencement. As most of the Company’s leases do not provide an implicit rate, the Company used the incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. When determining the incremental borrowing rates, the Company considered information including, but not limited to, the lease term, the Company’s credit rating and interest rates of similar debt instruments with comparable credit ratings. The Company’s lease agreements may contain variable costs such as common area maintenance, insurance, real estate taxes or other costs. Variable lease costs are expensed as incurred in the consolidated statement of operations. Nonlease components that are not fixed are expensed as incurred as variable lease payments. The Company’s lease agreements generally do not contain any residual guarantees or restrictive covenants. Operating and finance leases are included in other assets, accrued expenses and other current liabilities, and other liabilities-noncurrent in the consolidated balance sheets.
Stock-Based Compensation	The Company measures compensation expense for all stock-based payment awards granted to employees, directors and nonemployees, including restricted stock units (RSUs), stock options and purchase rights granted under its employee stock purchase plan (ESPP), based on the estimated fair value of the awards on the date of grant. For RSUs, fair value is based on the fair value of our common stock on the grant date. For stock options, fair value is estimated using the Black-Scholes-Merton option-pricing model. For purchase rights granted under its ESPP, the Company estimates fair value using the component measurement approach with valuations of the components based on the Company’s stock price on the date of the grant and/or the Black-Scholes-Merton option-pricing model, as appropriate for the applicable components. Stock-based compensation is recognized on a straight-line basis over the requisite service period. The requisite service period of the awards is generally the same as the vesting period. The Company recognizes forfeitures as they occur for equity awards with only a service condition.
Income Taxes	The Company accounts for income taxes under an asset and liability approach. Deferred income taxes reflect the impact of temporary differences between assets and liabilities recognized for financial reporting purposes and amounts recognized for income tax reporting purposes measured by applying currently enacted tax laws. A valuation allowance is provided when necessary to reduce deferred tax assets to an amount that is more likely than not to be realized. The Company recognizes the effect of income tax positions only if those positions are more likely than not to be sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely to be realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company records uncertain tax positions in accordance with accounting standards on the basis of a two-step process whereby (1) a determination is made as to whether it is more likely than not that the tax positions will be sustained based on the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold the Company recognizes the largest amount of tax benefit that is greater than 50% likely to be realized upon ultimate settlement with the related tax authority. The Company’s policy is to include interest and penalties within its provision for income taxes.
Comprehensive Income (Loss)	Comprehensive income (loss) is defined as a change in equity resulting from transactions from non-owner sources. Comprehensive income (loss) is comprised of all components of net income (loss) and all components of other comprehensive income (loss) within stockholders’ equity. Other comprehensive income (loss) includes adjustments for foreign currency translation.
Recently Issued Accounting Pronouncements Not Yet Adopted	In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (ASU 2023-07), which is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The guidance in ASU 2023-07 will be required to be applied for the year ending December 31, 2024 and for the interim periods within the following year ending December 31, 2025. Early adoption is permitted. The guidance is to be applied retrospectively to all prior periods presented in the financial statements. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (ASU 2023-09), which addresses investor requests for more transparency about income tax information through improvements to income tax disclosures primarily related to the income tax rate reconciliation and income taxes paid information. The guidance in ASU 2023-09 is effective on an annual basis and will be required to be applied for the year ending December 31, 2025 for public business entities, or the year ending December 31, 2026 for EGCs under the JOBS Act accounting election. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. The guidance should be applied on a prospective basis, but retrospective application is permitted. Given the disclosure focus of both ASU 2023-07 and ASU 2023-09, the applications of these new standards will not have an effect on the Company’s financial position and results of operations in its consolidated financial statements.

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating Activities:
Net loss	$ (11.8)	$ (10.2)	$ (42.5)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	48.2	37.0	27.1
Stock-based compensation	38.8	34.4	17.9
Change in fair value of contingent consideration related to earnouts	0.0	6.7	18.1
Deferred taxes	(0.5)	(12.6)	4.4
Non-cash lease costs	2.8	2.6	7.9
Other, net	2.9	1.3	(2.1)
Changes in operating assets and liabilities, net of business combination:
Accounts receivable	10.7	(18.7)	(20.2)
Prepaid expenses and other assets	(4.4)	(0.7)	(9.6)
Accounts payable	(1.8)	(5.6)	(2.2)
Accrued expenses and other current liabilities	(2.4)	5.8	16.6
Payment of contingent consideration	(14.0)	(11.5)	0.0
Operating lease liabilities	(3.1)	(2.4)	(7.3)
Other liabilities	6.7	(1.1)	(0.9)
Net cash provided by operating activities	72.1	25.0	7.2
Investing Activities:
Capitalized software development costs	(28.8)	(27.6)	(20.7)
Purchase of property and equipment	(0.7)	(4.6)	(2.3)
Business combination, net of cash acquired	0.0	(68.1)	0.0
Net cash used in investing activities	(29.5)	(100.3)	(23.0)
Financing Activities:
Payment of contingent consideration	(16.9)	(19.0)	0.0
Proceeds from line of credit	7.5	70.0	0.0
Payments on line of credit	(7.5)	(70.0)	0.0
Payment of debt issuance costs	(1.4)	0.0	0.0
Principal repayment of subordinated promissory notes	0.0	0.0	(28.5)
Repurchase of Series A redeemable convertible preferred stock	0.0	0.0	(2.1)
Proceeds from exercise of stock options	10.2	7.7	11.0
Issuance of Class A common stock under Employee Stock Purchase Plan	3.0	4.5	0.0
Tax payments related to net-share settlements on restricted stock units	(1.1)	(0.6)	(1.9)
Proceeds from issuance of common stock upon initial public offering, net of underwriting discounts and commissions	0.0	0.0	140.0
Payment of offering costs related to initial public offering	0.0	(1.0)	(4.0)
Net cash provided by (used in) financing activities	(26.2)	(8.4)	100.2
Effect of exchange rate changes on cash and cash equivalents	0.1	(0.2)	0.0
Net increase (decrease) in cash and cash equivalents	16.5	(83.9)	84.4
Cash and Cash Equivalents:
Beginning of year	83.9	167.8	83.4
End of year	100.4	83.9	167.8
Supplemental Disclosures of Non-Cash Investing and Financing Activities:
Capitalized software development costs recorded in accounts payable and accrued expenses and other current liabilities	0.5	0.9	0.5
Purchase of property and equipment recorded in accounts payable and accrued expenses and other current liabilities	0.0	0.1	0.8
Offering costs related to initial public offering not yet paid	0.0	0.0	1.0
Supplemental Disclosures of Cash Flow Information:
Income tax payments	13.5	4.0	0.3
Cash paid for interest	0.3	1.9	2.5
Supplemental Cash Flow Disclosure Related to Operating Leases:
Cash paid for amounts included in the measurement of lease liabilities	3.7	3.1	8.2
Lease liabilities arising from obtaining right-of-use assets	0.0	0.0	7.8
Stock Options
Financing Activities:
Repurchases of common stock	0.0	0.0	(1.4)
Common Class A
Financing Activities:
Repurchases of common stock	(20.0)	0.0	(0.5)
Common Class F
Financing Activities:
Repurchases of common stock	$ 0.0	$ 0.0	$ (12.4)

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per shares)	$ 0.0001	$ 0.0001
Preferred stock, authorized (in shares)	5,000,000	5,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in dollars per shares)	$ 0.0001	$ 0.0001
Common stock, authorized (in shares)	296,686,000	296,686,000
Common stock, issued (in shares)	76,940,000	75,120,000
Common stock, outstanding (in shares)	76,940,000	75,120,000

Income Taxes - Income Before Income Tax, Domestic and Foreign (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Domestic	$ 9.7	$ (16.3)	$ (35.0)
Foreign	(3.4)	(3.7)	(2.7)
Income (loss) before income taxes	$ 6.3	$ (20.0)	$ (37.7)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(11))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479557/942-235-S99-1

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 25
-Paragraph 1
-SubTopic 20
-Topic 940
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481913/940-20-25-1

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The Company’s assets and liabilities that are measured at fair value on a recurring basis, by level, within the fair value hierarchy are summarized as follows:


(in millions)	Quoted Prices in Active Markets (Level 1)		Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Carrying Value
As of December 31, 2023
Assets:
Cash and cash equivalents—money market funds	$	89.8	$	—	$	—	$	89.8
Certificate of deposit	—		2.1		—		2.1
	$	89.8	$	2.1	$	—	$	91.9


(in millions)	Quoted Prices in Active Markets (Level 1)		Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Carrying Value
As of December 31, 2022
Assets:
Cash and cash equivalents—money market funds	$	75.4	$	—	$	—	$	75.4
Certificate of deposit	—		2.0		—		2.0
	$	75.4	$	2.0	$	—	$	77.4
Liabilities:
Contingent consideration	$	—	$	—	$	30.9	$	30.9

Schedule of Level 3 Liabilities

Level 3 liabilities previously consisted entirely of contingent consideration, and the changes in fair values were as follows:


(in millions)
Year Ended December 31,	2023		2022
Balance as of beginning of year	$	30.9	$	54.7
Payment	(30.9)		(30.5)
Change in fair value, recognized in earnings	—		6.7
Balance as of end of year	$	—	$	30.9

The Company and its Significant Accounting Policies	12 Months Ended
The Company and its Significant Accounting Policies	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
The Company and its Significant Accounting Policies	The Company and its Significant Accounting Policies Organization—NerdWallet, Inc., a Delaware corporation, was formed on December 29, 2011. NerdWallet, Inc. and its subsidiaries (collectively, the Company) provide consumer-driven advice about personal finance through its platform by connecting individuals and small and mid-sized businesses (SMBs) with providers of financial products. Basis of Consolidation and Presentation—The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. Certain comparative amounts for the prior fiscal year have been reclassified to conform to the financial statement presentation as of and for the year ended December 31, 2023. Segments—Operating segments are defined as components of an enterprise for which discrete financial information is available that is reviewed regularly by the Chief Operating Decision Maker (CODM) in deciding how to allocate resources and in assessing performance. The Company’s CODM is its Chief Executive Officer, who reviews financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance. As a result, the Company has concluded that it has one operating segment. Significantly all of the Company’s revenue in 2023, 2022 and 2021 was from customers located in the United States. Significantly all of the Company’s long-lived assets as of December 31, 2023 and 2022 were located in the United States. Use of Estimates—The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Significant estimates and assumptions made by management include determination of stock-based compensation, valuation of embedded derivative, capitalization of software development costs, valuation of contingent consideration, valuation of goodwill and intangible assets, determination of associated useful lives of intangible assets and valuation of deferred tax assets. Management bases its estimates on historical experience and also on assumptions that it believes are reasonable. Concentrations of Credit Risk—Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. While the Company deposits cash and cash equivalents with high credit quality financial institutions, including First Citizens Bank & Trust Company (through its Silicon Valley Bank division), HSBC and JPMorgan Chase Bank, N.A., to lessen the Company’s exposure, such cash deposits may exceed federally insured limits at these financial institutions. To mitigate the risk associated with deposits exceeding federally insured limits, the Company manages exposure by utilizing deposit accounts which include sweep features to third-party money market funds, with total money market funds of $89.8 million and $75.4 million as of December 31, 2023 and 2022, respectively. Based on these facts, collectability of bank balances appears to be adequately assured. The Company had one customer which accounted for 14% of total accounts receivable as of December 31, 2023, and two customers which accounted for 15% and 12% of total accounts receivable as of December 31, 2022. The Company had two customers which accounted for 13% and 11% of revenue in 2023, one customer which accounted for 12% of revenue in 2022, and no customer which accounted for more than 10% of revenue in 2021. Under Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 606, Revenue from Contracts with Customers (ASC 606), the Company’s customers are considered to be financial services providers (e.g., banks, credit card issuers, lenders, investment brokers and other entities) that seek to reach and receive leads, matches and referrals to the Company’s substantial audience of consumers (including SMBs) in exchange for agreed-upon fees. Foreign Currency Transactions—The functional currency of the Company’s foreign subsidiaries is the respective local currency. All assets and liabilities accounts of the Company’s foreign subsidiaries are translated into U.S. dollars using the exchange rate on the balance sheet date. Equity transactions are translated using historical exchange rates. Revenues and expenses are translated at average rates prevailing throughout the period. Translation adjustments are included as a separate component on the consolidated statement of comprehensive income (loss), and in effect of exchange rate changes on cash and cash equivalents on the consolidated statement of cash flows. Transaction gains and losses including intercompany transactions denominated in a currency other than the functional currency of the entity involved are included in other gains (losses), net on our consolidated statement of operations and were immaterial for all periods presented. Cash and Cash Equivalents—Cash and cash equivalents include on demand deposits and money market funds with banks that have remaining maturities at the date of purchase of less than 90 days. Fair Value Measurements—The Company determines fair value based upon the exit price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants, as determined by either the principal market or the most advantageous market. Inputs used in the valuation techniques to derive fair values are classified based on a three-level hierarchy. These levels are: Level 1—Quoted prices (unadjusted) in active markets that are accessible at the measurement date for identical assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs. Level 2—Observable inputs other than quoted prices included within Level 1, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; and inputs other than quoted prices that are observable or are derived principally from, or corroborated by, observable market data by correlation or other means. Level 3—Unobservable inputs are used when little or no market data is available. The fair value hierarchy gives the lowest priority to Level 3 inputs. The Company recognizes transfers among Level 1, Level 2 and Level 3 classifications as of the actual date of the events or change in circumstances that caused the transfers. Trade Accounts Receivable—Trade accounts receivable are recorded at the invoiced amount or amounts due from customers via affiliate relationships at the end of each month. Invoiced amounts do not bear interest. The Company generally does not require collateral or other security in support of accounts receivable. Accounts receivable are past due when they are outstanding longer than the contractual payment terms. The Company determines an allowance for credit losses by considering available information, including the length of time accounts receivable are past due, previous loss history, and reasonable and supportable expectations regarding the specific customer’s ability to pay its financial obligations. If the Company becomes aware of changes in circumstances that are indicative of a customer’s inability to meet its financial obligations, such as in the case of bankruptcy, deterioration in operating results or changes in financial position, estimates of the allowance for credit losses are further adjusted. The allowance for doubtful accounts was $1.3 million and $1.4 million as of December 31, 2023 and 2022, respectively. The Company does not have any off-balance-sheet credit exposure related to its customers. Property, Equipment, and Software, Net—Property, equipment, and software 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, which are generally three years for computers and equipment, three years for software, and five years for furniture and fixtures. Leasehold improvements are amortized using the straight-line method over the shorter of the estimated useful lives of the assets or the term of the related lease. Expenditures for repairs and maintenance are charged to expense as incurred. Upon disposition or retirement, the cost and related accumulated depreciation are removed from the accounts and the resulting gain or loss, if any, is reflected as operating expenses in the consolidated statement of operations. Capitalized Software Development Costs—The costs incurred in the preliminary stages of website and software development are expensed as incurred. Once an application has reached the development stage, internal and external costs, if direct and incremental and deemed by management to be significant, are capitalized in property and equipment and amortized on a straight-line basis over their estimated useful lives. Maintenance, training and enhancement costs, including those costs in the post-implementation stages, are typically expensed as incurred, unless such costs relate to substantial upgrades and enhancements to the website or software that result in added functionality, in which case the costs are capitalized and amortized on a straight-line basis over the estimated useful lives. Capitalized development activities placed in service are amortized over the expected useful lives of those releases, currently estimated at one to five years. The estimated useful lives of website and software development activities are reviewed frequently and adjusted as appropriate to reflect upcoming development activities that may include significant upgrades and/or enhancements to the existing functionality. Amortization expense is included within cost of revenue in the consolidated statement of operations. Business Combinations—The Company recognizes identifiable assets acquired and liabilities assumed at their acquisition date fair value. Goodwill as of the acquisition date is measured as the excess of consideration transferred over the net of the acquisition date fair values of the assets acquired and the liabilities assumed. While the Company uses its best estimates and assumptions as a part of the purchase price allocation process to accurately value assets acquired and liabilities assumed at the acquisition date, its estimates are inherently uncertain and subject to refinement. As a result, during the measurement period, which may be up to one year from the acquisition date, the Company records adjustments to the assets acquired and liabilities assumed, with the corresponding offset to goodwill to the extent that the Company identifies adjustments to the preliminary purchase price allocation. Upon the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the consolidated statement of operations. As of December 31, 2023, the Company has not recorded material measurement period adjustments in connection with its business combinations. Contingent Consideration—The fair value measurements of contingent consideration liabilities established in connection with business combinations were determined as of the acquisition date based on significant unobservable inputs, including forecasted revenues and costs of the acquired companies, the probability of meeting certain revenue or earnings targets defined in the merger agreements, and the discount rate. Contingent consideration liabilities were remeasured to fair value at each subsequent reporting date until the related contingency was resolved, with the remeasurement adjustment reported in the consolidated statement of operations. Changes to the fair value of the contingent consideration liabilities resulted from changes to one or a number of inputs, including discount rates, the probabilities of achieving the milestones, the time required to achieve the milestones and estimated future sales. Significant judgment was employed in determining the appropriateness of these inputs. Goodwill—The Company evaluates goodwill for impairment annually or more frequently when an event occurs or circumstances change that indicate the carrying value may not be recoverable. The Company may elect to utilize a qualitative assessment to evaluate whether it is more likely than not that the fair value of a reporting unit is less than its carrying value and if so, the quantitative test is performed. Under the qualitative assessment, factors that are considered include industry and market considerations, overall financial performance and other relevant events and factors affecting the reporting unit. Under the quantitative test, the Company first compares the carrying value of each reporting unit to its estimated fair value and if the fair value is determined to be less than the carrying value, we recognize an impairment loss for the difference. Intangible Assets—Intangible assets include acquired intangible assets identified through business combinations, which are carried at the estimated fair value recorded upon acquisition less accumulated amortization, and purchased intangible assets, which are carried at cost less accumulated amortization. Intangible assets are amortized on a straight-line basis over their estimated useful lives. Amortization costs for developed technology is included in cost of revenue and amortization for customer relationships, trade names and user base are included in sales and marketing within the consolidated statement of operations. Intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. Impairment of Long-Lived Assets—The Company reviews long-lived assets, including property and equipment, capitalized software development costs, intangible assets and right-of-use assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable. Recoverability of assets or asset groups to be held and used is measured first by a comparison of the carrying amount of an asset or asset group to future undiscounted net cash flows expected to be generated by the asset or asset group. If such assets or asset group are considered to be impaired, an impairment loss would be recognized based on the excess of the carrying amount of the asset above the fair value of the asset or asset group. Revenue Recognition—The Company generates substantially all its revenue through fees paid by its financial services partners in the form of either revenue per action, revenue per click, revenue per lead and revenue per funded loan arrangements. For these revenue arrangements, in which a partner pays only when a consumer satisfies the criteria set forth within the arrangement, revenue is recognized generally when the Company matches the consumer with the financial services partner. For some of the Company’s arrangements, the transaction price is considered variable and an estimate of the transaction price is recorded when the match occurs. Under revenue recognition guidance, revenue is recognized when performance obligations under the terms of a contract with a customer are satisfied and promised goods and services have transferred to the customer, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. For revenue generated from revenue per action or revenue per funded loan arrangements in which fees are earned from customers for approved actions such as when credit cards are issued to consumers or when loans to consumers are funded, the Company’s contractual right to fees is not contemporaneous with the satisfaction of the performance obligation to match the consumer with the customer. As such, the Company records a contract asset at the end of each reporting period related to the estimated variable consideration on fees for which the Company has satisfied the related performance obligation but are still pending the financial product approval before the Company has a contractual right to payment. This estimate is based on the Company’s historical closing rates and historical time between when a consumer request for a financial product is delivered to the customer and when the financial product is approved by the customer. The time between satisfaction of the Company’s performance obligation and when the Company’s right to consideration becomes unconditional is generally less than 90 days and no significant judgment is required in determining whether the estimate of variable consideration should be constrained. The Company records a deferred revenue liability for fees received related to unsatisfied performance obligations at the end of each reporting period, with the performance obligations expected to be satisfied in the following reporting period. For revenue generated from revenue per lead or revenue per click in which fees are earned from customers when a consumer clicks on a tagged link to the customer’s website or lead is delivered to the customer, the Company’s contractual right to fees is contemporaneous with the satisfaction of the performance obligation to match the consumer with the customer. The Company’s services are generally transferred to the customer at a point in time, when the performance obligation is met. The Company’s payment terms vary by customer and verticals. The term between invoicing and when payment is due is generally 30 days or less. Cost of Revenue—Cost of revenue consists primarily of amortization expense associated with capitalized software development costs and developed technology; credit scoring fees and account linking fees; and third-party data center costs. Research and Development—Research and development expenses primarily consist of personnel related costs, technology and facility-related expenses and contractor expense for our engineering, product management, data and other personnel engaged in maintaining and enhancing the functionality of our platform. Research and development costs are expensed as incurred. Sales and Marketing—Sales and marketing expenses include advertising and promotion costs, costs related to brand campaign fees, marketing, business operations team and editorial personnel and related costs, including stock-based compensation. Advertising is expensed as incurred. Advertising expense was $294.7 million, $278.9 million, and $197.3 million for 2023, 2022 and 2021, respectively. Leases—The Company leases real estate facilities and general office equipment under operating leases expiring at various dates through 2029. The Company’s right-of-use (ROU) assets and lease liabilities are recognized at commencement date based on the present value of remaining lease payments over the lease term, which may include options to extend or terminate the lease when it is reasonably certain the Company will exercise such options. At inception of the lease, the Company is not reasonably certain that any available lease extensions or renewal terms will be exercised. For this purpose, the Company considered lease term and only payments that are fixed and determinable at the time of commencement. As most of the Company’s leases do not provide an implicit rate, the Company used the incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. When determining the incremental borrowing rates, the Company considered information including, but not limited to, the lease term, the Company’s credit rating and interest rates of similar debt instruments with comparable credit ratings. The Company’s lease agreements may contain variable costs such as common area maintenance, insurance, real estate taxes or other costs. Variable lease costs are expensed as incurred in the consolidated statement of operations. Nonlease components that are not fixed are expensed as incurred as variable lease payments. The Company’s lease agreements generally do not contain any residual guarantees or restrictive covenants. Operating and finance leases are included in other assets, accrued expenses and other current liabilities, and other liabilities-noncurrent in the consolidated balance sheets. Stock-Based Compensation—The Company measures compensation expense for all stock-based payment awards granted to employees, directors and nonemployees, including restricted stock units (RSUs), stock options and purchase rights granted under its employee stock purchase plan (ESPP), based on the estimated fair value of the awards on the date of grant. For RSUs, fair value is based on the fair value of our common stock on the grant date. For stock options, fair value is estimated using the Black-Scholes-Merton option-pricing model. For purchase rights granted under its ESPP, the Company estimates fair value using the component measurement approach with valuations of the components based on the Company’s stock price on the date of the grant and/or the Black-Scholes-Merton option-pricing model, as appropriate for the applicable components. Stock-based compensation is recognized on a straight-line basis over the requisite service period. The requisite service period of the awards is generally the same as the vesting period. The Company recognizes forfeitures as they occur for equity awards with only a service condition. Income Taxes—The Company accounts for income taxes under an asset and liability approach. Deferred income taxes reflect the impact of temporary differences between assets and liabilities recognized for financial reporting purposes and amounts recognized for income tax reporting purposes measured by applying currently enacted tax laws. A valuation allowance is provided when necessary to reduce deferred tax assets to an amount that is more likely than not to be realized. The Company recognizes the effect of income tax positions only if those positions are more likely than not to be sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely to be realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company records uncertain tax positions in accordance with accounting standards on the basis of a two-step process whereby (1) a determination is made as to whether it is more likely than not that the tax positions will be sustained based on the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold the Company recognizes the largest amount of tax benefit that is greater than 50% likely to be realized upon ultimate settlement with the related tax authority. The Company’s policy is to include interest and penalties within its provision for income taxes. Comprehensive Income (Loss)—Comprehensive income (loss) is defined as a change in equity resulting from transactions from non-owner sources. Comprehensive income (loss) is comprised of all components of net income (loss) and all components of other comprehensive income (loss) within stockholders’ equity. Other comprehensive income (loss) includes adjustments for foreign currency translation. Subsequent Events—The Company evaluated subsequent events through February 20, 2024, the date its consolidated financial statements were issued. JOBS Act Accounting Election—The Company qualifies as an “emerging growth company” (EGC) as defined in the JOBS Act, and, as such, the Company may elect to delay adopting new or revised accounting standards until such time as those standards apply to private companies. The Company has elected to use this extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date the Company (i) is no longer an emerging growth company or (ii) affirmatively and irrevocably opts out of the extended transition period provided in the JOBS Act. As a result, the Company’s financial condition and results of operations within its consolidated financial statements may not be comparable to those of other companies that have adopted new or revised accounting standards at an earlier date. Recently Issued Accounting Pronouncements Not Yet Adopted—In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (ASU 2023-07), which is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The guidance in ASU 2023-07 will be required to be applied for the year ending December 31, 2024 and for the interim periods within the following year ending December 31, 2025. Early adoption is permitted. The guidance is to be applied retrospectively to all prior periods presented in the financial statements. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (ASU 2023-09), which addresses investor requests for more transparency about income tax information through improvements to income tax disclosures primarily related to the income tax rate reconciliation and income taxes paid information. The guidance in ASU 2023-09 is effective on an annual basis and will be required to be applied for the year ending December 31, 2025 for public business entities, or the year ending December 31, 2026 for EGCs under the JOBS Act accounting election. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. The guidance should be applied on a prospective basis, but retrospective application is permitted. Given the disclosure focus of both ASU 2023-07 and ASU 2023-09, the applications of these new standards will not have an effect on the Company’s financial position and results of operations in its consolidated financial statements.

Leases - Narrative (Details) - USD ($) $ in Millions	1 Months Ended
Leases - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Sublease impairment loss	$ 1.6
Lease right of use asset impairment loss	1.4
Loss on disposal of sublease-related assets	0.2
Right-of-use assets	$ 7.2	$ 11.3

Debt	12 Months Ended
Debt	Dec. 31, 2023
Debt Disclosure [Abstract]
Debt	Debt Credit Facility—On September 26, 2023, NerdWallet, Inc. and three of its wholly-owned subsidiaries entered into a credit agreement which over time has been amended (as amended, the Credit Agreement) with JPMorgan Chase Bank, National Association. as Administrative Agent, and a syndicate of lenders. The Credit Agreement provides for a $125.0 million senior secured revolving credit facility (the Credit Facility), with the option to increase up to an additional $75.0 million, and is available to be used by the Company and certain of its domestic subsidiaries for general corporate purposes, including acquisitions. The Credit Agreement includes a letter of credit sub-facility in the aggregate amount of $10.0 million and a swingline sub-facility in the aggregate amount of $10.0 million. The Credit Facility is secured by substantially all of the Company’s assets. The Company and each of its material domestic subsidiaries is a guarantor of all of the obligations under the Credit Facility. The Credit Facility matures on September 26, 2028. The Credit Facility replaced the Company’s prior credit facility under the Amended and Restated Senior Secured Credit Facilities Credit Agreement dated February 19, 2021 between the Company and Silicon Valley Bank, as administrative agent (the Prior Credit Agreement), which was terminated substantially concurrently with the Company’s entering into the Credit Agreement. The Company is charged a commitment fee of between 0.25% and 0.35% of the total facility commitments, depending on the Company’s total net leverage ratio. Borrowings under the Credit Facility bear interest at a floating rate and may be maintained as alternate base rate loans (tied to the prime rate, the federal funds rate plus 0.50%, the overnight bank funding rate plus 0.50%, or the adjusted term secured overnight financing rate (SOFR) for a one-month period plus 1.00%) or as term benchmark loans tied to adjusted term SOFR plus 0.10%, in each case plus a margin of 2.25% to 2.75% depending on the Company’s total net leverage ratio. There was no outstanding balance under the Credit Agreement at December 31, 2023. The available amount to borrow under the Credit Facility was $123.7 million at December 31, 2023, which was equal to the available amount under the agreement of $125.0 million net of letters of credit of $1.3 million. The Credit Agreement requires the Company to comply with maximum total net leverage and minimum fixed charge coverage ratios. In addition, the Credit Agreement contains other standard affirmative and negative covenants such as those which (subject to certain thresholds) limit the ability of the Company and its subsidiaries to, among other things, incur debt, incur liens, engage in mergers, consolidations, liquidations or acquisitions, enter into new lines of business not related to the Company’s current lines of business, make certain investments, make distributions on or repurchase its equity securities, engage in transactions with affiliates, or enter into certain hedging obligations. Events of default under the Credit Agreement include, among other things, payment defaults, breaches of representations, warranties or covenants, defaults under material indebtedness, certain events of bankruptcy or insolvency, judgment defaults, certain defaults or events relating to employee benefit plans or a change in control of the Company. The events of default would permit the lenders to terminate commitments and accelerate the maturity of borrowings under the Credit Facility if not cured within applicable grace periods. The Company was in compliance with all covenants as of December 31, 2023. The Company’s Prior Credit Agreement with Silicon Valley Bank, which over time had been amended and restated was secured by certain qualifying accounts receivable of the Company. The Prior Credit Agreement provided for a revolving line of credit of up to $100.0 million with the option to increase up to an additional $25.0 million, including a letter of credit sub-facility in the aggregate amount of $10.0 million, and a swingline sub-facility in the aggregate amount of $10.0 million, and had a scheduled termination date of December 2, 2023. Under the terms of the Prior Credit Agreement, revolving loans could be either SOFR Loans or Alternative Base Rate (ABR) Loans. Outstanding SOFR Loans incurred interest at the Adjusted SOFR Rate (which is defined in the Prior Credit Agreement as Term SOFR plus a Term SOFR Adjustment equal to 0.10% for 1-month interest periods, 0.15% for 3-month interest periods, and 0.25% for 6-month interest periods, and, in each case, subject to a 1.00% floor), plus a margin of either 3.00% or 2.75% depending on usage. Outstanding ABR Loans would incur interest at the highest of the Prime Rate, as published by the Wall Street Journal, the federal funds rate in effect for such day plus 0.50%, and 3.25%, in each case a margin of either 1.75% or 2.00% will be applicable, depending on usage. The Company was charged a commitment fee of 0.30% per year for committed but unused amounts. On July 7, 2022, the Company borrowed $70.0 million under the Prior Credit Agreement to finance the cash portion of the purchase consideration for the acquisition of OTB. This borrowing was fully repaid by the Company in December 2022. There was no outstanding balance under the Prior Credit Agreement at December 31, 2022. The available amount to borrow under the Prior Credit Agreement was $98.3 million as of December 31, 2022, which was equal to the available amount under the Prior Credit Agreement of $100.0 million net of letters of credit of $1.7 million. The Prior Credit Agreement contained covenants which limited the Company’s ability to, among other things, dispose of assets, undergo a change in control, merge or consolidate, make acquisitions, incur debt, incur liens, pay dividends, repurchase stock, and make investments, in each case subject to certain exceptions. The Prior Credit Agreement also contained financial covenants which required the Company to maintain a minimum adjusted quick ratio and a minimum consolidated adjusted EBITDA if the adjusted quick ratio fell below a specified level, measured in each case at the end of each fiscal quarter. The Company was required to furnish audited financial statements within 90 days after the end of the fiscal year. The Company was in compliance with all covenants as of December 31, 2022. Subordinated Promissory Notes—During 2017, the Company entered into a stock repurchase agreement to repurchase a specific number of shares of Class G common stock from one of the Company’s co-founders. In connection with the stock repurchase agreement, the Company issued subordinated promissory notes (the Notes) with a principal amount totaling $28.5 million to the co-founder. The Notes bore interest on the outstanding principal amount at the rate of 4.2922% per year and were scheduled to mature in January 2026. In November 2021, in connection with the Company’s initial public offering (IPO), the Company repaid in full the outstanding principal amount of $28.5 million and accrued interest on the Notes. Upon repayment of the Notes in November 2021, the Company recognized the remaining unamortized debt premium of $1.5 million as a gain on extinguishment of debt recorded to other gains (losses), net in the consolidated statement of operations.

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Significant Consolidated Balance Sheet Components (Tables)

12 Months Ended

Dec. 31, 2023

Significant Consolidated Balance Sheet Components [Abstract]

Schedule Of Prepaid Expenses

Prepaid expenses and other current assets consisted of the following:


(in millions)
As of December 31,	2023		2022
Prepaid expenses	$	13.5	$	10.4
Contract assets	5.5		5.8
Certificate of deposit	2.1		2.0
Other current assets	1.4		0.1
Total prepaid expenses and other current assets	$	22.5	$	18.3

Schedule of Other Current Assets

Prepaid expenses and other current assets consisted of the following:


(in millions)
As of December 31,	2023		2022
Prepaid expenses	$	13.5	$	10.4
Contract assets	5.5		5.8
Certificate of deposit	2.1		2.0
Other current assets	1.4		0.1
Total prepaid expenses and other current assets	$	22.5	$	18.3

Schedule of Property, Equipment and Software

Property, equipment and software, net consisted of the following:


(in millions)
As of December 31,	2023		2022
Capitalized software development costs	$	120.1	$	105.7
Office equipment	4.4		6.7
Furniture and fixtures	1.5		1.8
Leasehold improvements	2.3		2.3
Total property, equipment and software	128.3		116.5
Accumulated depreciation and amortization	(75.7)		(67.4)
Total property, equipment and software—net	$	52.6	$	49.1

Schedule of Accrued Liabilities

Accrued expenses and other current liabilities consisted of the following:


(in millions)
As of December 31,	2023		2022
Unbilled accounts payable	$	21.2	$	26.1
Accrued compensation	4.5		5.6
Deferred revenue	4.1		—
Operating lease liabilities	3.4		3.1
Deferred compensation liability related to earnouts	—		1.7
Other accrued expenses	2.4		1.4
Total accrued expenses and other current liabilities	$	35.6	$	37.9

Schedule of Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following:


(in millions)
As of December 31,	2023		2022
Unbilled accounts payable	$	21.2	$	26.1
Accrued compensation	4.5		5.6
Deferred revenue	4.1		—
Operating lease liabilities	3.4		3.1
Deferred compensation liability related to earnouts	—		1.7
Other accrued expenses	2.4		1.4
Total accrued expenses and other current liabilities	$	35.6	$	37.9

Schedule of Other Noncurrent Liabilities

Other liabilities—noncurrent consisted of the following:


(in millions)
As of December 31,	2023		2022
Unrecognized tax benefit liability	$	7.2	$	0.4
Operating lease liabilities	6.2		9.6
Deferred tax liability, net	0.7		1.2
Other noncurrent liabilities	0.3		0.4
Total other liabilities—noncurrent	$	14.4	$	11.6

Stockholders' Equity - Stock Option Valuation Assumptions (Details) - Stock Options	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	52.50%	53.70%
Expected term (in years)	6 years	6 years
Expected dividend yield	0.00%	0.00%
Risk-free interest rate	2.60%	1.10%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 35
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(i)
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

Income (loss) before the provision for (benefit from) income taxes consisted of the following:


(in millions)
Year Ended December 31,	2023		2022		2021
Domestic	$	9.7	$	(16.3)	$	(35.0)
Foreign	(3.4)		(3.7)		(2.7)
Total	$	6.3	$	(20.0)	$	(37.7)

Schedule of Components of Provision for (Benefit from) Income Tax

The components of the provision for (benefit from) income taxes are as follows:


(in millions)
Year Ended December 31,	2023		2022		2021
Current:
Federal	$	13.8	$	2.0	$	—
State	4.8		1.9		0.7
Foreign	—		0.1		—
Total	18.6		4.0		0.7
Deferred:
Federal	—		(12.3)		4.9
State	—		(1.6)		(0.2)
Foreign	(0.5)		0.1		(0.6)
Total	(0.5)		(13.8)		4.1
Provision for (benefit from) income taxes	$	18.1	$	(9.8)	$	4.8

Schedule of Effective Income Tax Rate Reconciliation

The reconciliation of the statutory federal income tax rate to the Company’s effective tax rate is as follows:


(in millions)
Year Ended December 31,	2023		2022		2021
Tax at federal statutory rate	$	1.3	$	(4.2)	$	(7.9)
Permanent items	(0.6)		0.3		—
Foreign rate differential	0.3		0.9		(0.2)
Stock-based compensation	1.2		1.0		(2.0)
Tax credits	(8.0)		(6.1)		(5.6)
Change in valuation allowance	20.0		(3.7)		15.1
Tax contingency and interest	1.9		1.3		1.9
State taxes	2.2		(0.7)		(0.4)
Non-deductible contingent consideration	—		1.4		4.1
Other	(0.2)		—		(0.2)
Tax at effective tax rate	$	18.1	$	(9.8)	$	4.8

Schedule of Deferred Tax Assets and Liabilities

The Company’s deferred tax assets and liabilities are as follows:


(in millions)
As of December 31,	2023		2022
Deferred tax assets:
Accruals and reserves	$	2.0	$	2.1
Federal and state tax credits	11.0		14.0
Stock-based compensation	4.7		3.9
Capitalized research and development expenses	42.7		22.2
Net operating loss carryforwards	3.9		4.1
Lease liabilities	2.4		3.1
Other	—		0.1
Total gross deferred tax assets	66.7		49.5
Deferred tax liabilities:
Prepaid expense and other	(0.4)		(0.6)
Right-of-use assets	(1.8)		(2.8)
Basis difference for fixed assets and intangibles	(25.1)		(28.0)
Total gross deferred tax liabilities	(27.3)		(31.4)
Valuation allowance for deferred tax assets	(40.1)		(19.3)
Net deferred tax liability	$	(0.7)	$	(1.2)

Schedule of Unrecognized Tax Benefits

A reconciliation of unrecognized tax benefits, excluding accrued interest and penalties, are as follows:


(in millions)
Year Ended December 31,	2023		2022		2021
Balance as of beginning of year	$	9.9	$	8.4	$	6.3
Increases related to prior year tax positions	0.5		—		0.6
Decreases related to prior year tax positions	(1.1)		(0.2)		—
Expiration of statute of limitations	(0.4)		—		—
Current year increases	3.0		1.7		1.5
Balance as of end of year	$	11.9	$	9.9	$	8.4

Stockholders' Equity - ESPP Valuation Assumptions (Details) - Employee Stock - Common Class A	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	79.40%	59.60%
Expected term (in years)	8 months 12 days	1 year
Expected dividend yield	0.00%	0.00%
Risk-free interest rate	4.90%	2.80%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Redeemable Convertible Preferred Stock

12 Months Ended

Dec. 31, 2023

Temporary Equity Disclosure [Abstract]

Redeemable Convertible Preferred Stock

In connection with the Company’s IPO which was completed on November 8, 2021, all 7.5 million shares of the Company’s then-outstanding Series A redeemable convertible preferred stock automatically converted into an equal number of shares of Class A common stock.

A summary of the Company’s Series A redeemable convertible preferred stock activity is as follows:


(in millions, except share amounts which are in thousands)	2021
Year Ended December 31,	Shares	Amount
Balance as of beginning of year	7,687	$	68.8
Repurchase of Series A redeemable convertible preferred stock	(102)	(2.1)
Conversion of Series A redeemable convertible preferred stock to Class A common stock	(58)	(0.5)
Conversion of Series A redeemable convertible preferred stock to Class A common stock upon initial public offering	(7,527)	(66.2)
Balance as of end of year	—	$	—

In March 2021, the Company repurchased 0.1 million shares of Series A redeemable convertible preferred stock from an affiliated entity of a former member of its Board of Directors for $2.1 million.

Revenue (Tables)

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

The following presents a disaggregation of the Company’s revenue based on product category:


(in millions)
Year Ended December 31,	2023		2022		2021
Credit cards	$	209.7	$	210.3	$	123.8
Loans	101.6		109.1		126.4
SMB products	101.2		91.4		39.8
Emerging verticals	186.9		128.1		89.6
Total revenue	$	599.4	$	538.9	$	379.6

Income Taxes - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2023	Jul. 11, 2022
Income Tax Contingency [Line Items]
Federal net operating loss carryforwards		$ 1.9
Operating loss carryforwards, subject to expiration		0.2
Operating loss carryforwards, not subject to expiration		1.7
State net operating loss carryforwards		26.2
Research credit carryforwards		18.7
Valuation allowance for deferred tax assets	$ (19.3)	(40.1)
Unrecognized tax benefits that would impact effective tax rate	0.4	$ 7.2
On the Barrelhead, Inc.
Income Tax Contingency [Line Items]
Intangible assets			$ 50.1
Deferred tax liability			$ (12.1)
Valuation allowance decrease	$ 12.1

Redeemable Convertible Preferred Stock - Series A redeemable convertible preferred stock (Details) shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2021 USD ($) shares
Temporary Equity [Line Items]
Beginning balance (in shares) \| shares	7,687
Beginning balance \| $	$ 68.8
Repurchase of Series A redeemable convertible preferred stock (in shares) \| shares	(102)
Repurchase of Series A redeemable convertible preferred stock \| $	$ (2.1)
Ending balance (in shares) \| shares	0
Ending balance \| $	$ 0.0
Conversion of Series A redeemable convertible preferred stock to Class A common stock
Temporary Equity [Line Items]
Conversion of Series A redeemable convertible preferred stock to Class A common stock (in shares) \| shares	(58)
Conversion of Series A redeemable convertible preferred stock to Class A common stock \| $	$ (0.5)
Conversion of Series A redeemable convertible preferred stock to Class A common stock upon initial public offering
Temporary Equity [Line Items]
Conversion of Series A redeemable convertible preferred stock to Class A common stock (in shares) \| shares	(7,527)
Conversion of Series A redeemable convertible preferred stock to Class A common stock \| $	$ (66.2)

- Definition

Carrying amount, attributable to parent, of an entity's issued and outstanding stock which is not included within permanent equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. Includes stock with a put option held by an ESOP and stock redeemable by a holder only in the event of a change in control of the issuer.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(23)(a)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 14.E.Q2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479830/718-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

+ Details

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2023
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions During 2017, the Company entered into a stock repurchase agreement to repurchase a specific number of shares of Class G common stock from one of the Company’s co-founders. In connection with the stock repurchase agreement, the Company issued Notes with a principal amount totaling $28.5 million to the co-founder. The Notes bore interest on the outstanding principal amount at the rate of 4.2922% per year and were scheduled to mature in 2026. In November 2021, in connection with the Company’s IPO, the Company repaid in full the outstanding principal amount of $28.5 million and accrued interest on the Notes. See Note 7–Debt for further discussion on the Notes. Additionally, see Note 10–Redeemable Convertible Preferred Stock and Note 11–Stockholders’ Equity for discussion on certain equity and options-related transactions with a former member of the Company’s Board of Directors and his affiliated entity, as well as with the Company’s CEO. There were no other material related party transactions during 2023, 2022 or 2021.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-2

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
-Topic 850
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section S99
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//850/tableOfContent

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-Topic 850
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-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

+ Details

Stockholders' Equity - Stock Option Activity - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense		$ 38.8	$ 34.4	$ 17.9
Former Board Member and Affiliated Entity
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payments for repurchase of common stock	$ 2.4
Common Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payments for repurchase of common stock		$ 20.0	$ 0.0	$ 0.5
Common Class A \| Former Board Member and Affiliated Entity
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Repurchase of Class A common stock (in shares)	200,000
Share-based compensation expense	$ 1.0
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)		0
Granted, weighted average grant-date fair value (in dollars per share)			$ 5.54	$ 9.60
Aggregate intrinsic value, options exercised in period		$ 14.5	$ 6.7	$ 30.0
Expected dividend yield			0.00%	0.00%
Payments for repurchase of common stock		0.0	$ 0.0	$ 1.4
Stock Options \| Common Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost		$ 7.5
Unrecognized compensation cost, period for recognition		1 year 9 months 18 days
Expected dividend yield		0.00%

Commitment and Contingencies	12 Months Ended
Commitment and Contingencies	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments and Other Financial Arrangements—The Company has certain financial commitments and other arrangements including unused letters of credit and commitments under leases. See Note 7–Debt and Note 9–Leases for further discussion. Litigation and Other Legal Matters—The Company is involved from time to time in litigation, claims, and proceedings. Periodically, the Company evaluates the status of each legal matter and assesses potential financial exposure. If the potential loss from any legal proceeding or litigation is considered probable and the amount can be reasonably estimated, the Company accrues a liability for the estimated loss. Significant judgment is required to determine the probability of a loss and whether the amount of the loss is reasonably estimable. The outcome of any proceeding is not determinable in advance. As a result, the assessment of a potential liability and the amount of accruals recorded are based only on the information available at the time. As additional information becomes available, the Company reassesses the potential liability related to the legal proceeding or litigation, and may revise its estimates. Management is not currently aware of any matters that it expects will have a material effect on the financial position, results of operations, or cash flows of the Company. The Company has not accrued any material potential loss as of December 31, 2023 or 2022.

Related Party Transactions (Details) - Subordinated Promissory Note - Co-founder - USD ($) $ in Millions	1 Months Ended
	Nov. 30, 2021	Dec. 31, 2017
Related Party Transaction [Line Items]
Subordinated promissory note		$ 28.5
Interest rate percentage		4.2922%
Repayments of related party debt	$ 28.5

The Company and its Significant Accounting Policies - Capitalized Software Development Costs Narrative (Details) - Computer Software, Intangible Asset	Dec. 31, 2023
Minimum
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Useful Life (in years)	1 year
Maximum
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Useful Life (in years)	5 years

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net loss	$ (11.8)	$ (10.2)	$ (42.5)
Other Comprehensive Income (Loss):
Change in foreign currency translation	0.6	(1.4)	(0.1)
Comprehensive Loss	$ (11.2)	$ (11.6)	$ (42.6)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Revenue	$ 599.4	$ 538.9	$ 379.6
Costs and Expenses:
Cost of revenue	54.0	39.8	28.5
Research and development	80.5	77.6	62.2
Sales and marketing	401.5	375.6	271.3
General and administrative	59.8	58.2	38.5
Change in fair value of contingent consideration related to earnouts	0.0	6.7	18.1
Total costs and expenses	595.8	557.9	418.6
Income (Loss) From Operations	3.6	(19.0)	(39.0)
Other income (expense), net:
Interest income	3.6	1.5	0.0
Interest expense	(0.8)	(2.5)	(1.3)
Other gains (losses), net	(0.1)	0.0	2.6
Total other income (expense), net	2.7	(1.0)	1.3
Income (loss) before income taxes	6.3	(20.0)	(37.7)
Income tax provision (benefit)	18.1	(9.8)	4.8
Net Loss	$ (11.8)	$ (10.2)	$ (42.5)
Net Loss Per Share Attributable to Common Stockholders
Basic (in dollars per share)	$ (0.15)	$ (0.14)	$ (0.82)
Diluted (in dollars per share)	$ (0.15)	$ (0.14)	$ (0.82)
Weighted-average Shares Used in Computing Net Loss Per Share Attributable to Common Stockholders
Basic (in shares)	76.7	70.6	51.9
Diluted (in shares)	76.7	70.6	51.9

Business Combination - Schedule of Allocation of Purchase Consideration (Details) - USD ($) $ in Millions	Jul. 11, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Fair Value of Liabilities Assumed
Goodwill		$ 111.5	$ 111.2	$ 43.8
On the Barrelhead, Inc.
Asset Acquisition [Line Items]
Purchase Consideration	$ 118.2
Fair Value of Assets Acquired
Cash and cash equivalents	6.9
Accounts receivable	12.2
Intangible assets	50.1
Total assets	69.2
Fair Value of Liabilities Assumed
Accounts payable	6.4
Accrued expenses and other current liabilities	0.6
Deferred tax liability	12.1
Total liabilities	19.1
Less: Net Assets Acquired	50.1
Goodwill	$ 68.1

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 100.4	$ 83.9
Accounts receivable—net	75.5	87.0
Prepaid expenses and other current assets	22.5	18.3
Total current assets	198.4	189.2
Property, equipment and software—net	52.6	49.1
Goodwill	111.5	111.2
Intangible assets—net	46.9	64.1
Right-of-use assets	7.2	11.3
Other assets	2.0	0.8
Total Assets	418.6	425.7
Current liabilities:
Accounts payable	1.7	3.6
Accrued expenses and other current liabilities	35.6	37.9
Contingent consideration—current	0.0	30.9
Total current liabilities	37.3	72.4
Other liabilities—noncurrent	14.4	11.6
Total liabilities	51.7	84.0
Commitments and contingencies (Note 8)
Stockholders’ equity:
Preferred stock—$0.0001 par value per share—5,000 shares authorized; zero shares issued and outstanding	0.0	0.0
Common stock—$0.0001 par value per share—296,686 shares authorized; 76,940 and 75,120 shares issued and outstanding as of December 31, 2023 and 2022	0.0	0.0
Additional paid-in capital	483.7	427.3
Accumulated other comprehensive loss	(0.3)	(0.9)
Accumulated deficit	(116.5)	(84.7)
Total stockholders’ equity	366.9	341.7
Total Liabilities and Stockholders’ Equity	$ 418.6	$ 425.7

Business Combination

12 Months Ended

Dec. 31, 2023

Business Combination and Asset Acquisition [Abstract]

Business Combination

On the Barrelhead, Inc.—On July 11, 2022, the Company completed the acquisition of On the Barrelhead, Inc. (OTB), a data-driven platform that provides consumers and SMBs with credit-driven product recommendations. The Company completed the acquisition of OTB under an Agreement and Plan of Merger and Reorganization.

Purchase Consideration

The purchase consideration consisted of the following:


(in millions)	Total
Cash consideration1	$	75.7
Stock consideration2	43.2
Total consideration	118.9
Less: amounts considered separate from the business combination and attributable to post-combination expense3	(0.7)
Purchase Consideration	$	118.2

(1) Includes $12.2 million of cash which was deposited in escrow for the settlement of breaches, if any, of certain representations, warranties, agreements and covenants.

(2) Represents the aggregate fair value of 4.9 million shares issued of the Company’s Class A common stock based on the closing price of the stock on the acquisition date of July 11, 2022, which was $8.75 per share.

(3) Primarily comprised of the additional fair value of unvested OTB option awards discretionally accelerated by the Company and attributable to post-combination expense.

Half of the stock consideration is subject to a lockup arrangement whereby such shares may not be sold or otherwise transferred prior to expiration of the 24-month period following the acquisition date.

Retention Agreements and Inducement Awards

Concurrently with the closing of the acquisition, the Company provided employment offer letters to OTB’s employees, including compensatory retention agreements with the co-founders of OTB which could result in up to $15.0 million of cash awards. Cash awards under these retention agreements are payable in equal installments on the first, second and third anniversary dates of the closing of the acquisition. Also concurrently with the closing of the acquisition, the Compensation Committee of the Company’s Board of Directors granted RSU awards under the NerdWallet, Inc. 2022 Inducement Equity Incentive Plan (the Inducement Plan) to employees of OTB who were offered employment with the Company, which RSU awards had an aggregate grant date fair value on the acquisition date of $17.5 million, including $12.8 million of RSU awards to the co-founders of OTB, $2.3 million of RSU awards to six non-management employees of OTB and $2.4 million of RSU awards to all fourteen employees of OTB. The $12.8 million of RSU awards to the co-founders of OTB will generally vest in full upon the third anniversary of the closing of the acquisition. The $2.3 million of RSU awards to non-management employees of OTB will vest annually over four years, with 20% of the RSUs subject to vest on each of the first, second and third annual vesting dates and the remaining 40% of the RSUs subject to vest on the fourth annual vesting date. The $2.4 million of RSU awards granted to all employees of OTB will generally vest over four years subject to a one-year cliff and quarterly vesting thereafter. RSU awards under the Inducement Plan are subject to the conditions of the Inducement Plan and the terms and conditions of the grant agreements covering such awards. Compensation expenses under these employment offer letters and vesting of awards under these retention agreements and Inducement Plan are generally subject to the employees’ continued employment with the Company, and the fair value of such compensation and awards are excluded from the purchase price and accounted for separately from the business combination. The value of cash awards under these retention agreements are recognized as compensation expense ratably over the three-year period following the close of the acquisition. The value of RSU awards under the Inducement Plan are recognized as stock-based compensation ratably over the respective vesting terms of the awards.

Purchase Accounting

The acquisition has been accounted for as a business combination. The allocation of purchase consideration to the assets acquired and liabilities assumed is as follows:


(in millions)	Fair Value
Purchase Consideration	$	118.2
Fair Value of Assets Acquired
Cash and cash equivalents	6.9
Accounts receivable	12.2
Intangible assets	50.1
Total assets	69.2
Fair Value of Liabilities Assumed
Accounts payable	6.4
Accrued expenses and other current liabilities	0.6
Deferred tax liability	12.1
Total liabilities	19.1
Less: Net Assets Acquired	50.1
Goodwill	$	68.1

The acquired intangible assets consist of definite-lived assets with estimated fair values and useful lives as follows:


(dollars in millions)	Fair Value		Weighted-Average Useful Life (Years)
Developed technology	$	48.9	5.0
Customer relationships	1.2		1.0
Total intangible assets	$	50.1	4.9

The estimated fair value of acquired intangible assets was determined using the multi-period excess earnings method of the income approach for developed technology, and the replacement cost method for customer relationships.

The deferred tax liability of $12.1 million primarily relates to identified intangible assets.

The Company recorded goodwill of $68.1 million, which represents the excess of the purchase consideration over the estimated fair value of the assets acquired, net of the liabilities assumed. The goodwill is primarily attributable to synergies from combining the operations of the Company and OTB, as well as the value ascribed to the knowledge and experience of the OTB co-founders and employees. For income tax purposes, the acquisition is a stock purchase and goodwill is not tax deductible.

Acquisition-related costs of $3.5 million were incurred during 2022, and are included in general and administrative expense on the consolidated statements of operations. Due to the extensive level of integration of OTB’s technology and operations into the Company’s operations following the closing of the acquisition, the Company is not able to quantify the acquisition’s contribution following the closing of the acquisition to the Company’s revenue and operating loss for 2022, as the ability to objectively quantify such amounts would require a significant level of estimation.

Unaudited Pro Forma Financial Information

The following unaudited pro forma financial information for the years ended December 31, 2022 and 2021 is presented as if the OTB acquisition, including the related debt financing, was completed on January 1, 2021. The pro forma financial information includes the historical operating results of the Company and OTB prior to the acquisition, with adjustments directly attributable to the acquisition. Pro forma adjustments have been made to reflect the incremental intangible asset amortization to be incurred based on the preliminary fair values and useful lives of each identifiable intangible asset, incremental stock-based compensation related to inducement equity awards, incremental compensation related to cash retention agreements, incremental interest expense related to debt drawn to finance the cash portion of the purchase price, the adjustment of acquisition-related expenses, and the related tax effects of pro forma adjustments for the respective periods.The unaudited pro forma financial information is as follows:


(in millions)
Year Ended December 31,	2022		2021
Revenue	$	583.9	$	417.7
Net loss	(21.9)		(51.7)

The unaudited pro forma financial information is not intended to present, or be indicative of, what the results of operations would have been for the combined company for the periods presented had the acquisition actually occurred on January 1, 2021, nor is it meant to be indicative of results of operations that may be achieved by the combined company in the future. The unaudited pro forma financial information does not include any cost savings or other synergies that resulted, or may result, from the OTB acquisition or any estimated costs that will be incurred to integrate OTB. Future results may vary significantly from the results reflected in this unaudited pro forma financial information because of future events and transactions, as well as other factors.

Net Loss Per Basic and Diluted Share

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Net Loss Per Basic and Diluted Share

The Company computes earnings per share (EPS) in conformity with the two-class method required for participating securities. The two-class method is an earnings allocation method that determines net loss per share for each class of common stock and participating securities according to dividends declared (or accumulated) and participation rights in undistributed earnings or losses. We consider early exercised share options to be participating securities. The impact of early exercised share options on basic and diluted EPS was immaterial for 2023, 2022 and 2021.

Basic EPS is computed by dividing net loss available to common stockholders by the weighted average number of common stock outstanding during the period. Diluted EPS is computed by dividing net loss attributable to common stockholders by the number of diluted shares outstanding. Diluted shares equal the total of the basic shares outstanding and all potentially issuable shares, other than antidilutive shares, if any, weighted for the average days outstanding for the period. The dilutive effect of outstanding awards and convertible securities is reflected in diluted earnings per share by application of the treasury stock method.

The following table provides a reconciliation of the numerators and denominators of the basic and diluted per share computations for net loss attributable to common stockholders:


(in millions, except per share amounts)
Year Ended December 31,	2023		2022		2021
Numerator:
Net loss attributable to common stockholders–basic and diluted	$	(11.8)	$	(10.2)	$	(42.5)
Denominator:
Weighted-average shares of common stock–basic and diluted	76.7		70.6		51.9
Net loss per share attributable to common stockholders:
Basic	$	(0.15)	$	(0.14)	$	(0.82)
Diluted	$	(0.15)	$	(0.14)	$	(0.82)

The rights, including the liquidation and dividend rights, of the holders of Class A and Class B common stock, as well as of Class F stock prior to the Company’s IPO in November 2021, are identical, except with respect to voting and conversion. See Note 11–Stockholders’ Equity for further discussion. As the liquidation and dividend rights are identical for Class A, Class B and predecessor Class F common stock, the undistributed earnings are allocated on a proportional basis and the resulting net loss attributable to common stockholders will be the same for Class A, Class B and the predecessor Class F common stock on an individual or combined basis.

The following common stock equivalents were excluded from the computation of diluted net loss per share for the periods presented because including them would have been antidilutive:


(in millions)
Year Ended December 31,	2023	2022	2021
Shares subject to outstanding stock options and restricted stock units	8.9	9.6	5.0
Employee stock purchase plan	0.3	1.4	0.6

Redeemable Convertible Preferred Stock - Narrative (Details) - USD ($) shares in Thousands, $ in Millions	1 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2021	Nov. 08, 2021
Temporary Equity [Line Items]
Repurchase of Series A redeemable convertible preferred stock (in shares)		(102)
Repurchase of Series A redeemable convertible preferred stock		$ 2.1
Common Class A
Temporary Equity [Line Items]
Shares issued upon conversion of preferred stock (in shares)			7,500
Series A Redeemable Convertible Preferred Stock
Temporary Equity [Line Items]
Repurchase of Series A redeemable convertible preferred stock (in shares)	(100)
Repurchase of Series A redeemable convertible preferred stock	$ 2.1

Cover - USD ($) $ in Millions	12 Months Ended
Cover - USD ($) $ in Millions	Dec. 31, 2023	Feb. 16, 2024	Jun. 30, 2023
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-40994
Entity Registrant Name	NerdWallet, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	45-4180440
Entity Address, Address Line One	55 Hawthorne St.
Entity Address, Address Line Two	10th Floor
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94105
City Area Code	415
Local Phone Number	549-8913
Title of 12(b) Security	Class A common stock, $.0001 par value
Trading Symbol	NRDS
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 360
Documents Incorporated by Reference	Portions of the registrant’s definitive proxy statement for its 2024 Annual Meeting of Stockholders (the “Proxy Statement”), to be filed within 120 days of the registrant’s fiscal year ended December 31, 2023, are incorporated by reference in Part III of this Annual Report on Form 10-K. Except with respect to information specifically incorporated by reference in this Annual Report on Form 10-K, the Proxy Statement is not deemed to be filed as part of this Annual Report on Form 10-K.
Amendment Flag	false
Entity Central Index Key	0001625278
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023
Common Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		45,321,643
Common Class B
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		31,685,652

Leases - Lease Cost (Details) - USD ($) $ in Millions	12 Months Ended
Leases - Lease Cost (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating lease cost	$ 3.4	$ 3.4	$ 8.6
Sublease income	0.0	0.0	(1.5)
Net lease cost	$ 3.4	$ 3.4	$ 7.1

Stockholders' Equity - Preferred Stock Narrative (Details) - $ / shares	Dec. 31, 2023	Dec. 31, 2022	Nov. 08, 2021
Equity [Abstract]
Preferred stock, authorized (in shares)	5,000,000	5,000,000	5,000,000
Preferred stock, par value (in dollars per shares)	$ 0.0001	$ 0.0001	$ 0.0001

The Company and its Significant Accounting Policies - Sales and Marketing Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Advertising expense	$ 294.7	$ 278.9	$ 197.3

Stockholders' Equity - Employee Stock Purchase Plan Narrative (Details) - USD ($) shares in Millions		12 Months Ended
	Nov. 08, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense		$ 38,800,000	$ 34,400,000	$ 17,900,000
Employee Stock \| Common Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Discount from market price	15.00%
Number of shares authorized (in shares)	0.8
Issuance of Class A common stock under Employee Stock Purchase Plan (in shares)		0.3
Share-based compensation expense		$ 3,600,000	$ 6,300,000
Unrecognized compensation cost		$ 0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Net Loss Per Basic and Diluted Share - Reconciliation of Based and Diluted Per Share Amounts (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Numerator:
Net loss attributable to common stockholders – basic	$ (11.8)	$ (10.2)	$ (42.5)
Net loss attributable to common stockholders – diluted	$ (11.8)	$ (10.2)	$ (42.5)
Denominator:
Weighted-average shares of common stock – basic (in shares)	76.7	70.6	51.9
Weighted-average shares of common stock – diluted (in shares)	76.7	70.6	51.9
Net loss per share attributable to common stockholders:
Basic (in dollars per share)	$ (0.15)	$ (0.14)	$ (0.82)
Diluted (in dollars per share)	$ (0.15)	$ (0.14)	$ (0.82)

- Definition

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

+ References

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- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

+ References

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+ Details

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities, and addition from assumption of issuance of common shares for dilutive potential common shares; of income (loss) available to common shareholders.

+ References + Details

Business Combination (Tables)

12 Months Ended

Dec. 31, 2023

Business Combination and Asset Acquisition [Abstract]

Schedule of Business Combination

The purchase consideration consisted of the following:


(in millions)	Total
Cash consideration1	$	75.7
Stock consideration2	43.2
Total consideration	118.9
Less: amounts considered separate from the business combination and attributable to post-combination expense3	(0.7)
Purchase Consideration	$	118.2

(1) Includes $12.2 million of cash which was deposited in escrow for the settlement of breaches, if any, of certain representations, warranties, agreements and covenants.

(3) Primarily comprised of the additional fair value of unvested OTB option awards discretionally accelerated by the Company and attributable to post-combination expense.

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The acquisition has been accounted for as a business combination. The allocation of purchase consideration to the assets acquired and liabilities assumed is as follows:


(in millions)	Fair Value
Purchase Consideration	$	118.2
Fair Value of Assets Acquired
Cash and cash equivalents	6.9
Accounts receivable	12.2
Intangible assets	50.1
Total assets	69.2
Fair Value of Liabilities Assumed
Accounts payable	6.4
Accrued expenses and other current liabilities	0.6
Deferred tax liability	12.1
Total liabilities	19.1
Less: Net Assets Acquired	50.1
Goodwill	$	68.1

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination

The acquired intangible assets consist of definite-lived assets with estimated fair values and useful lives as follows:


(dollars in millions)	Fair Value		Weighted-Average Useful Life (Years)
Developed technology	$	48.9	5.0
Customer relationships	1.2		1.0
Total intangible assets	$	50.1	4.9

Schedule of Business Combination Pro Forma Information

The unaudited pro forma financial information is as follows:


(in millions)
Year Ended December 31,	2022		2021
Revenue	$	583.9	$	417.7
Net loss	(21.9)		(51.7)

The Company and its Significant Accounting Policies - Trade Accounts Receivable Narrative (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Allowance for doubtful accounts	$ 1,300,000	$ 1,400,000
Off-balance-sheet credit	$ 0

Fair Value Measurements - Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Money Market Funds
Assets:
Cash and cash equivalents—money market funds	$ 89.8	$ 75.4
Recurring Basis
Assets:
Assets	91.9	77.4
Liabilities:
Contingent consideration		30.9
Recurring Basis \| Certificate of deposit
Assets:
Certificate of deposit	2.1	2.0
Recurring Basis \| Money Market Funds
Assets:
Cash and cash equivalents—money market funds	89.8	75.4
Recurring Basis \| Quoted Prices in Active Markets (Level 1)
Assets:
Assets	89.8	75.4
Liabilities:
Contingent consideration		0.0
Recurring Basis \| Quoted Prices in Active Markets (Level 1) \| Certificate of deposit
Assets:
Certificate of deposit	0.0	0.0
Recurring Basis \| Quoted Prices in Active Markets (Level 1) \| Money Market Funds
Assets:
Cash and cash equivalents—money market funds	89.8	75.4
Recurring Basis \| Other Observable Inputs (Level 2)
Assets:
Assets	2.1	2.0
Liabilities:
Contingent consideration		0.0
Recurring Basis \| Other Observable Inputs (Level 2) \| Certificate of deposit
Assets:
Certificate of deposit	2.1	2.0
Recurring Basis \| Other Observable Inputs (Level 2) \| Money Market Funds
Assets:
Cash and cash equivalents—money market funds	0.0	0.0
Recurring Basis \| Significant Unobservable Inputs (Level 3)
Assets:
Assets	0.0	0.0
Liabilities:
Contingent consideration		30.9
Recurring Basis \| Significant Unobservable Inputs (Level 3) \| Certificate of deposit
Assets:
Certificate of deposit	0.0	0.0
Recurring Basis \| Significant Unobservable Inputs (Level 3) \| Money Market Funds
Assets:
Cash and cash equivalents—money market funds	$ 0.0	$ 0.0

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Schedule of Class A Common Stock Available for Future Issuance

The Company had reserved the following shares of Class A common stock for future issuance:


(in thousands)
As of December 31,	2023	2022
Shares outstanding from stock options and restricted stock units	10,900	13,517
Shares available for future equity award grants	10,345	7,554
Shares available for future ESPP offerings	607	201
Total shares reserved	21,852	21,272

Schedule of Stock Options Roll Forward

A summary of the Company’s stock option activity for its Plans is as follows:


	Outstanding Stock Options (in thousands)	Weighted- Average Exercise Price	Weighted- Average Remaining Contractual Life (in years)	Aggregate Intrinsic Value (in millions)
Balance as of December 31, 2022	6,112	$9.81	6.7	$11.9
Exercised	(1,584)	$6.44
Cancelled/forfeited	(416)	$12.40
Balance as of December 31, 2023	4,112	$10.84	6.3	$18.7
Vested and exercisable as of December 31, 2023	2,986	$10.21	5.7	$15.2

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The per-share fair value of each stock option was determined on the date of grant using the following weighted-average assumptions and ranges of fair value of common stock:


Year Ended December 31,	2022		2021
Expected volatility	52.5	%	53.7	%
Expected term (in years)	6.0		6.0
Expected dividend yield	0	%	0	%
Risk-free interest rate	2.6	%	1.1	%

Schedule of Outstanding Nonvested RSUs

A summary of the Company’s outstanding nonvested RSUs for its Plans is as follows:


	Number of Units (in thousands)	Weighted-Average Grant Date Fair Value
Nonvested as of December 31, 2022	7,405	$	12.27
Granted1	2,719	$	14.58
Vested	(2,253)	$	13.73
Forfeited	(1,083)	$	14.11
Nonvested as of December 31, 2023	6,788	$	12.42

______________

(1)Includes 0.2 million of target award RSUs with both service-based and performance-based conditions.

Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions

The fair value of purchase rights granted under the ESPP were determined on the date of grant using the following weighted-average assumptions:


Year Ended December 31,	2023		2022
Expected volatility	79.4	%	59.6	%
Expected term (in years)	0.7		1.0
Expected dividend yield	0	%	0	%
Risk-free interest rate	4.9	%	2.8	%

Schedule of Stock-based Compensation Expense

The Company recognized stock-based compensation under the Plans and ESPP as follows:


(in millions)
Year Ended December 31,	2023		2022		2021
Research and development	$	11.2	$	12.0	$	6.8
Sales and marketing	13.8		12.4		5.8
General and administrative	13.8		10.0		5.3
Total	$	38.8	$	34.4	$	17.9

- Definition

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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+ Details

Significant Consolidated Balance Sheet Components - Prepaid Expense and Other Current Assets (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Significant Consolidated Balance Sheet Components [Abstract]
Prepaid expenses	$ 13.5	$ 10.4
Contract assets	5.5	5.8
Certificate of deposit	2.1	2.0
Other current assets	1.4	0.1
Total prepaid expenses and other current assets	$ 22.5	$ 18.3

Goodwill and Intangible Assets - Definite-Lived Intangible Assets (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 87.3	$ 87.3
Accumulated Amortization	(40.4)	(23.0)
Foreign currency translation adjustment		(0.2)
Net Carrying Amount	$ 46.9	$ 64.1
Technology
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Useful Life (in years)	3 years 6 months	4 years 4 months 24 days
Gross Carrying Amount	$ 55.3	$ 55.3
Accumulated Amortization	(21.1)	(9.7)
Net Carrying Amount	$ 34.2	$ 45.6
User base
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Useful Life (in years)	3 years 9 months 18 days	4 years 9 months 18 days
Gross Carrying Amount	$ 19.4	$ 19.4
Accumulated Amortization	(8.8)	(6.0)
Net Carrying Amount	$ 10.6	$ 13.4
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Useful Life (in years)	1 year 9 months 18 days	2 years
Gross Carrying Amount	$ 12.2	$ 12.2
Accumulated Amortization	(10.1)	(6.9)
Net Carrying Amount	2.1	5.3
Trade names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	0.4	0.4
Accumulated Amortization	(0.4)	(0.4)
Net Carrying Amount	$ 0.0	$ 0.0

Leases

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Leases

Components of operating lease costs are as follows:


(in millions)
Year Ended December 31,	2023		2022		2021
Operating lease cost	$	3.4	$	3.4	$	8.6
Sublease income	—		—		(1.5)
Net lease cost	$	3.4	$	3.4	$	7.1

Lease term and discount rate are as follows:


As of December 31,	2023		2022
Weighted-average remaining lease term (years)	4.0		4.6
Weighted-average discount rate	5.3	%	5.3	%

In December 2023, the Company entered into a sublease agreement for a portion of the Company’s office space in San Francisco. The sublease expires concurrently with the corresponding head lease, but does not relieve the Company of its obligations under the head lease. The Company determined that the sublease arrangement was an operating lease at inception, and is recognizing sublease income on a straight-line basis over the sublease term as a reduction of rent expense. As a result of the sublease, the Company evaluated the associated head lease ROU asset and sublease-related furniture and fixtures and leasehold improvements for impairment, as the change in circumstances indicated that the carrying amount of such assets may not be recoverable. The Company estimated the fair value of these assets as of the effective date of the sublease agreement using an income approach based on expected future cash flows from the subleased property. The Company recognized impairment charges of $1.6 million related to the sublease which are included in general and administrative expense on the consolidated statements of operations, including a $1.4 million impairment of ROU asset and $0.2 million of loss on disposal of sublease-related furniture and fixtures and leasehold improvements. Right-of-use assets were $7.2 million and $11.3 million as of December 31, 2023 and 2022, respectively.

The maturities of lease liabilities as of December 31, 2023 are as follows:


(in millions)
Years Ending December 31,	Amount
2024	$	3.8
2025	2.5
2026	1.2
2027	1.3
2028	1.3
Thereafter	0.6
Total undiscounted cash flows	$	10.7
Less: imputed interest	(1.1)
Present value of lease liabilities	$	9.6
Less: lease liabilities, current	(3.4)
Total lease liabilities, noncurrent	$	6.2

Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The balance of goodwill, net is as follows:


(in millions)
Year Ended December 31,	2023		2022
Balance as of beginning of year	$	111.2	$	43.8
Acquisition of OTB	—		68.1
Foreign currency translation adjustment	0.3		(0.7)
Balance as of end of year	$	111.5	$	111.2

Schedule of Definite-Lived Intangible Assets

Intangible assets with definite lives related to the following:


(dollars in millions)	Weighted-Average Remaining Useful Life (in years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
As of December 31, 2023
Technology	3.5	$	55.3	$	(21.1)	$	34.2
User base	3.8	19.4		(8.8)		10.6
Customer relationships	1.8	12.2		(10.1)		2.1
Trade names		0.4		(0.4)		—
Total		$	87.3	$	(40.4)	$	46.9


(dollars in millions)	Weighted-Average Remaining Useful Life (in years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
As of December 31, 2022
Technology	4.4	$	55.3	$	(9.7)	$	45.6
User base	4.8	19.4		(6.0)		13.4
Customer relationships	2.0	12.2		(6.9)		5.3
Trade names		0.4		(0.4)		—
Foreign currency translation adjustment						(0.2)
Total		$	87.3	$	(23.0)	$	64.1

Schedule of Future Amortization Expense

Estimated future amortization expense as of December 31, 2023 is as follows:


(in millions)
Years Ending December 31,	Amortization
2024	$	13.8
2025	13.5
2026	12.5
2027	7.1
	$	46.9

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
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-Section 50
-Paragraph 1
-Subparagraph (b)
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
-Section 50
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-Subparagraph (e)
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
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-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

Business Combination - Schedule of Unaudited Pro Forma Financial Information (Details) - On the Barrelhead, Inc. - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Asset Acquisition [Line Items]
Revenue	$ 583.9	$ 417.7
Net loss	$ (21.9)	$ (51.7)

Stockholders' Equity - Stock-Based Compensation Expense (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	$ 38,800,000	$ 34,400,000	$ 17,900,000
Share-based compensation capitalized	5,500,000	6,300,000	3,300,000
Income tax benefit	18,100,000	(9,800,000)	4,800,000
Stock-Based Compensation Arrangement
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Income tax benefit	0	0	0
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	11,200,000	12,000,000.0	6,800,000
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	13,800,000	12,400,000	5,800,000
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	$ 13,800,000	$ 10,000,000.0	$ 5,300,000

- Definition

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

+ References + Details

Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

The balance of goodwill, net is as follows:


(in millions)
Year Ended December 31,	2023		2022
Balance as of beginning of year	$	111.2	$	43.8
Acquisition of OTB	—		68.1
Foreign currency translation adjustment	0.3		(0.7)
Balance as of end of year	$	111.5	$	111.2

No impairment charges have been recorded for goodwill in 2023, 2022 or 2021.

Intangible assets with definite lives related to the following:


(dollars in millions)	Weighted-Average Remaining Useful Life (in years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
As of December 31, 2023
Technology	3.5	$	55.3	$	(21.1)	$	34.2
User base	3.8	19.4		(8.8)		10.6
Customer relationships	1.8	12.2		(10.1)		2.1
Trade names		0.4		(0.4)		—
Total		$	87.3	$	(40.4)	$	46.9


(dollars in millions)	Weighted-Average Remaining Useful Life (in years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
As of December 31, 2022
Technology	4.4	$	55.3	$	(9.7)	$	45.6
User base	4.8	19.4		(6.0)		13.4
Customer relationships	2.0	12.2		(6.9)		5.3
Trade names		0.4		(0.4)		—
Foreign currency translation adjustment						(0.2)
Total		$	87.3	$	(23.0)	$	64.1

Amortization expense related to definite-lived intangible assets was $17.3 million, $13.0 million and $8.0 million in 2023, 2022 and 2021, respectively.

Estimated future amortization expense as of December 31, 2023 is as follows:


(in millions)
Years Ending December 31,	Amortization
2024	$	13.8
2025	13.5
2026	12.5
2027	7.1
	$	46.9

No impairment charges have been recorded for intangible assets in 2023, 2022 or 2021.

Stockholders' Equity - Common Shares Reserved for Future Issuance (Details) - shares shares in Thousands	Dec. 31, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Total Class A shares reserved (in shares)	21,852	21,272
Common Class A
Class of Stock [Line Items]
Shares outstanding from stock options and restricted stock units (in shares)	10,900	13,517
Shares available for future equity award grants (in shares)	10,345	7,554
Shares available for future ESPP offerings (in shares)	607	201

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Insider Trading Arrangements	3 Months Ended	12 Months Ended
Insider Trading Arrangements	Dec. 31, 2023 shares	Dec. 31, 2023 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Samuel Yount [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On October 31, 2023, Samuel Yount, General Manager, Consumer Credit, adopted a trading plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1 of the Exchange Act as currently in effect (the Yount Trading Plan). The Yount Trading Plan has a duration of February 23, 2024 to May 10, 2024 and provides for the sale of up to approximately 12,497 shares of the Company’s Class A common stock, including upon the vesting and settlement of certain equity awards. Because the aggregate number of shares that may be sold under the Yount Trading Plan will be net of shares withheld by the Company to satisfy Mr. Yount’s tax obligations upon the vesting and settlement of certain equity awards, the precise number of shares that may be sold under the Yount Trading Plan is not yet determinable.
Name	Samuel Yount
Title	General Manager, Consumer Credit
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	October 31, 2023,
Arrangement Duration	77 days
Aggregate Available	12,497	12,497
Jennifer Ceran [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On December 15, 2023, Jennifer Ceran, a member of our Board of Directors, adopted a trading plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1 of the Exchange Act as currently in effect (the Ceran Trading Plan). The Ceran Trading Plan has a duration of March 15, 2024 to December 31, 2024 and provides for the sale of up to 25,897 shares of the Company’s Class A common stock, including upon the vesting and settlement of certain equity awards.
Name	Jennifer Ceran
Title	Board of Directors
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	December 15, 2023,
Arrangement Duration	291 days
Aggregate Available	25,897	25,897

Goodwill and Intangible Assets - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill impairment charge	$ 0	$ 0	$ 0
Amortization expense	17,300,000	13,000,000	8,000,000
Impairment of intangible assets	$ 0	$ 0	$ 0

The Company and its Significant Accounting Policies - Segments Narrative (Details)	12 Months Ended
	Dec. 31, 2023 operating_segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments	1

Revenue (Details) - USD ($) $ in Millions	12 Months Ended
Revenue (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Revenue	$ 599.4	$ 538.9	$ 379.6
Contract assets	5.5	5.8
Credit cards
Disaggregation of Revenue [Line Items]
Revenue	209.7	210.3	123.8
Loans
Disaggregation of Revenue [Line Items]
Revenue	101.6	109.1	126.4
SMB products
Disaggregation of Revenue [Line Items]
Revenue	101.2	91.4	39.8
Emerging verticals
Disaggregation of Revenue [Line Items]
Revenue	$ 186.9	$ 128.1	$ 89.6

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 22
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

The Company and its Significant Accounting Policies - Concentrations of Credit Risk Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Accounts Receivable \| Customer Concentration Risk \| Customer One
Concentration Risk [Line Items]
Concentration risk (in percent)	14.00%	15.00%
Accounts Receivable \| Customer Concentration Risk \| Customer Two
Concentration Risk [Line Items]
Concentration risk (in percent)		12.00%
Revenue Benchmark \| Customer Concentration Risk \| Customer One
Concentration Risk [Line Items]
Concentration risk (in percent)	13.00%	12.00%
Revenue Benchmark \| Customer Concentration Risk \| Customer Two
Concentration Risk [Line Items]
Concentration risk (in percent)	11.00%
Money Market Funds
Concentration Risk [Line Items]
Cash and cash equivalents—money market funds	$ 89.8	$ 75.4

Stockholders' Equity - Stock Option Activity (Details) - Stock Options - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Beginning of period (in shares)	6,112
Exercised (in shares)	(1,584)
Cancelled/forfeited (in shares)	(416)
End of period (in shares)	4,112	6,112
Vested and exercisable at end of period (in shares)	2,986
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Beginning of period, weighted-average exercise price (in dollars per share)	$ 9.81
Exercised, weighted-average exercise price (in dollars per share)	6.44
Cancelled/forfeited, weighted-average exercise price (in dollars per share)	12.40
End of period, weighted-average exercise price (in dollars per share)	10.84	$ 9.81
Vested and exercisable at end of period, weighted-average exercise price (in dollars per share)	$ 10.21
Weighted-average contractual life, shares outstanding (in years)	6 years 3 months 18 days	6 years 8 months 12 days
Weighted-average contractual life, shares vested and exercisable (in years)	5 years 8 months 12 days
Aggregate intrinsic value, shares outstanding	$ 18.7	$ 11.9
Aggregate intrinsic value, shares vested and exercisable	$ 15.2

Income Taxes - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Tax at federal statutory rate	$ 1.3	$ (4.2)	$ (7.9)
Permanent items	(0.6)	0.3	0.0
Foreign rate differential	0.3	0.9	(0.2)
Stock-based compensation	1.2	1.0	(2.0)
Tax credits	(8.0)	(6.1)	(5.6)
Change in valuation allowance	20.0	(3.7)	15.1
Tax contingency and interest	1.9	1.3	1.9
State taxes	2.2	(0.7)	(0.4)
Non-deductible contingent consideration	0.0	1.4	4.1
Other	(0.2)	0.0	(0.2)
Provision for (benefit from) income taxes	$ 18.1	$ (9.8)	$ 4.8

Leases - Payments of Lease Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
2024	$ 3.8
2025	2.5
2026	1.2
2027	1.3
2028	1.3
Thereafter	0.6
Total undiscounted cash flows	10.7
Less: imputed interest	(1.1)
Present value of lease liabilities	9.6
Less: lease liabilities, current	(3.4)	$ (3.1)
Operating lease liabilities	$ 6.2	$ 9.6
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued expenses and other current liabilities	Accrued expenses and other current liabilities
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other liabilities—noncurrent	Other liabilities—noncurrent

Significant Consolidated Balance Sheet Components

12 Months Ended

Dec. 31, 2023

Significant Consolidated Balance Sheet Components [Abstract]

Significant Consolidated Balance Sheet Components

Prepaid expenses and other current assets consisted of the following:


(in millions)
As of December 31,	2023		2022
Prepaid expenses	$	13.5	$	10.4
Contract assets	5.5		5.8
Certificate of deposit	2.1		2.0
Other current assets	1.4		0.1
Total prepaid expenses and other current assets	$	22.5	$	18.3

Property, equipment and software, net consisted of the following:


(in millions)
As of December 31,	2023		2022
Capitalized software development costs	$	120.1	$	105.7
Office equipment	4.4		6.7
Furniture and fixtures	1.5		1.8
Leasehold improvements	2.3		2.3
Total property, equipment and software	128.3		116.5
Accumulated depreciation and amortization	(75.7)		(67.4)
Total property, equipment and software—net	$	52.6	$	49.1

The Company capitalized $34.0 million, $34.1 million and $24.2 million of software development costs, and recorded amortization expense of $28.9 million, $22.1 million and $16.7 million, during 2023, 2022 and 2021, respectively. Losses on disposal related to software development costs were $0.8 million for 2021, with no losses in 2023 or 2022.

Depreciation and amortization, exclusive of amortization of capitalized software development costs and intangible assets, was $2.3 million, $1.9 million and $2.4 million in 2023, 2022 and 2021, respectively.

Accrued expenses and other current liabilities consisted of the following:


(in millions)
As of December 31,	2023		2022
Unbilled accounts payable	$	21.2	$	26.1
Accrued compensation	4.5		5.6
Deferred revenue	4.1		—
Operating lease liabilities	3.4		3.1
Deferred compensation liability related to earnouts	—		1.7
Other accrued expenses	2.4		1.4
Total accrued expenses and other current liabilities	$	35.6	$	37.9

Other liabilities—noncurrent consisted of the following:


(in millions)
As of December 31,	2023		2022
Unrecognized tax benefit liability	$	7.2	$	0.4
Operating lease liabilities	6.2		9.6
Deferred tax liability, net	0.7		1.2
Other noncurrent liabilities	0.3		0.4
Total other liabilities—noncurrent	$	14.4	$	11.6

Net Loss Per Basic and Diluted Share - Schedule of Antidilutive Securities Excluded from Computation (Details) - shares shares in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Shares subject to outstanding stock options and restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	8.9	9.6	5.0
Employee stock purchase plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	0.3	1.4	0.6

Income Taxes

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Income Taxes

Income (loss) before the provision for (benefit from) income taxes consisted of the following:


(in millions)
Year Ended December 31,	2023		2022		2021
Domestic	$	9.7	$	(16.3)	$	(35.0)
Foreign	(3.4)		(3.7)		(2.7)
Total	$	6.3	$	(20.0)	$	(37.7)

The components of the provision for (benefit from) income taxes are as follows:


(in millions)
Year Ended December 31,	2023		2022		2021
Current:
Federal	$	13.8	$	2.0	$	—
State	4.8		1.9		0.7
Foreign	—		0.1		—
Total	18.6		4.0		0.7
Deferred:
Federal	—		(12.3)		4.9
State	—		(1.6)		(0.2)
Foreign	(0.5)		0.1		(0.6)
Total	(0.5)		(13.8)		4.1
Provision for (benefit from) income taxes	$	18.1	$	(9.8)	$	4.8

The reconciliation of the statutory federal income tax rate to the Company’s effective tax rate is as follows:


(in millions)
Year Ended December 31,	2023		2022		2021
Tax at federal statutory rate	$	1.3	$	(4.2)	$	(7.9)
Permanent items	(0.6)		0.3		—
Foreign rate differential	0.3		0.9		(0.2)
Stock-based compensation	1.2		1.0		(2.0)
Tax credits	(8.0)		(6.1)		(5.6)
Change in valuation allowance	20.0		(3.7)		15.1
Tax contingency and interest	1.9		1.3		1.9
State taxes	2.2		(0.7)		(0.4)
Non-deductible contingent consideration	—		1.4		4.1
Other	(0.2)		—		(0.2)
Tax at effective tax rate	$	18.1	$	(9.8)	$	4.8

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The Company’s deferred tax assets and liabilities are as follows:


(in millions)
As of December 31,	2023		2022
Deferred tax assets:
Accruals and reserves	$	2.0	$	2.1
Federal and state tax credits	11.0		14.0
Stock-based compensation	4.7		3.9
Capitalized research and development expenses	42.7		22.2
Net operating loss carryforwards	3.9		4.1
Lease liabilities	2.4		3.1
Other	—		0.1
Total gross deferred tax assets	66.7		49.5
Deferred tax liabilities:
Prepaid expense and other	(0.4)		(0.6)
Right-of-use assets	(1.8)		(2.8)
Basis difference for fixed assets and intangibles	(25.1)		(28.0)
Total gross deferred tax liabilities	(27.3)		(31.4)
Valuation allowance for deferred tax assets	(40.1)		(19.3)
Net deferred tax liability	$	(0.7)	$	(1.2)

The net deferred tax liability is recorded in other liabilities—noncurrent on the Company’s consolidated balance sheet.

As part of the acquisition of OTB on July 11, 2022, the Company recorded identified intangible assets of $50.1 million. As these identified intangible assets are not deductible for U.S. tax purposes, a related deferred tax liability of $12.1 million was recognized, which provided an additional source of taxable income to support the realization of a portion of the Company’s pre-existing U.S. deferred tax assets. As the Company had previously established a full valuation allowance against its net U.S. deferred tax assets, the Company reduced its deferred tax asset valuation allowance by a corresponding $12.1 million, with the reduction in allowance recognized as an income tax benefit in the consolidated statement of operations for the year ended December 31, 2022.

As of December 31, 2023, the Company has federal net operating loss carryforwards of $1.9 million, of which $0.2 million, if not utilized, will begin to expire in 2034, and the remaining $1.7 million can be carried forward indefinitely. As of December 31, 2023, the Company has state net operating loss carryforwards of $26.2 million. The majority of state net operating loss carryforwards, if not utilized, will begin to expire on various dates beginning in 2032.

In addition, as of December 31, 2023, the Company has $18.7 million of California research and development credit carryforwards, which can be carried forward indefinitely.

In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. Utilization of the Company’s federal and state net operating loss carryforwards (NOLs) and tax credit carryforwards, as well as of other temporary differences, is dependent upon the generation of sufficient taxable income in future periods. In the Company’s ongoing assessment of all available evidence, both positive and negative, the Company considers the scheduled reversal of deferred tax liabilities, the Company’s future operating model and the expected impacts on future profitability, and prudent and feasible tax-planning strategies. Accordingly, the Company has established a valuation allowance against these net U.S. deferred tax assets as of December 31, 2023 as the Company concluded that it was more likely than not that the Company will not be able to fully realize such net deferred tax assets. The valuation allowance for deferred tax assets was $40.1 million and $19.3 million as of December 31, 2023 and 2022, respectively, with the increase in 2023 primarily due to higher capitalization of R&D expenses under tax regulations effective in 2022. The Company’s judgment regarding the likelihood of realization of these deferred tax assets could change in future periods, which could result in a material impact to the Company’s income tax provision in the period of change.

A reconciliation of unrecognized tax benefits, excluding accrued interest and penalties, are as follows:


(in millions)
Year Ended December 31,	2023		2022		2021
Balance as of beginning of year	$	9.9	$	8.4	$	6.3
Increases related to prior year tax positions	0.5		—		0.6
Decreases related to prior year tax positions	(1.1)		(0.2)		—
Expiration of statute of limitations	(0.4)		—		—
Current year increases	3.0		1.7		1.5
Balance as of end of year	$	11.9	$	9.9	$	8.4

Interest and penalties were not material for 2023, 2022 and 2021. As of December 31, 2023, unrecognized tax benefits of $7.2 million, as well as accrued interest and penalties, would affect the Company’s provision for income taxes if recognized. The Company does not anticipate that its total unrecognized tax benefits will significantly change due to settlement of examination or the expiration of statute of limitations during the next 12 months.

The Company files income tax returns in the U.S. federal and various state jurisdictions. The Company’s tax years for 2014 and forward are subject to examination by U.S. and various state tax authorities due to certain acquired attribute carryforwards.

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Employee Benefit Plan	12 Months Ended
Employee Benefit Plan	Dec. 31, 2023
Retirement Benefits [Abstract]
Employee Benefit Plan	Employee Benefit Plan The Company sponsors a 401(k) savings plan (the Savings Plan). All employees are eligible to participate in the Savings Plan after meeting certain eligibility requirements. Participants may elect to have a portion of their salary deferred and contributed to the Savings Plan up to the limit allowed by the applicable income tax regulations. The Company’s current policy is to match employee contributions up to certain overall limits. The Company made matching contributions of $4.8 million, $4.3 million and $3.5 million during 2023, 2022 and 2021, respectively.

Stockholders' Equity - Common Stock Transfers and Repurchase Narrative (Details) - Chief Executive Officer $ / shares in Units, shares in Millions, $ in Millions	1 Months Ended
	Feb. 28, 2021 USD ($) $ / shares shares	Jan. 31, 2021 USD ($) $ / shares shares
Common Class A
Subsidiary, Sale of Stock [Line Items]
Number of shares sold (in shares) \| shares	0.1
Shares sold price (in dollars per share) \| $ / shares	$ 14.00
Consideration received on sale of stock \| $	$ 2.1
Common Class F
Subsidiary, Sale of Stock [Line Items]
Number of shares sold (in shares) \| shares		1.1
Shares sold price (in dollars per share) \| $ / shares		$ 14.00
Consideration received on sale of stock \| $		$ 15.0
Common stock, conversion ratio		1
Repurchase of Class A common stock (in shares) \| shares		0.9
Stock repurchased during period (in dollars per share) \| $ / shares		$ 14.00
Repurchase of common stock \| $		$ 12.4

Stockholders' Equity - Restricted Stock Unit Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award requisite service period	4 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning of period, nonvested (in shares)	7,405
Granted (in shares)	2,719
Vested (in shares)	(2,253)
Forfeited (in shares)	(1,083)
End of period, nonvested (in shares)	6,788	7,405
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Beginning of period, nonvested weighted average grant date fair value (in dollars per share)	$ 12.27
Granted (in dollars per share)	14.58
Vested (in dollars per share)	13.73
Forfeited (in dollars per share)	14.11
End of period, nonvested weighted average grant date fair value (in dollars per share)	$ 12.42	$ 12.27
Fair value of shares vested under RSUs during period	$ 27.0	$ 17.7
Unrecognized compensation cost	$ 69.9
Unrecognized compensation cost, period for recognition	2 years 4 months 24 days
Restricted Stock Units, Service-Based And Performance-Based
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Granted (in shares)	200
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Award vesting period in years	3 years
Performance Shares \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Award vesting rights percentage	0.00%
Performance Shares \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Award vesting rights percentage	200.00%

The Company and its Significant Accounting Policies - Revenue Recognition Narrative (Details)	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of payment terms	The Company’s payment terms vary by customer and verticals. The term between invoicing and when payment is due is generally 30 days or less.
Maximum payment term period, in general	30 days

Revenue

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Revenue

The following presents a disaggregation of the Company’s revenue based on product category:


(in millions)
Year Ended December 31,	2023		2022		2021
Credit cards	$	209.7	$	210.3	$	123.8
Loans	101.6		109.1		126.4
SMB products	101.2		91.4		39.8
Emerging verticals	186.9		128.1		89.6
Total revenue	$	599.4	$	538.9	$	379.6

The contract asset recorded within prepaid expenses and other current assets on the consolidated balance sheet related to estimated variable consideration was $5.5 million and $5.8 million as of December 31, 2023 and 2022, respectively.

Credit cards revenue is primarily generated through revenue per action arrangements. Loans revenue is primarily generated through revenue per funded loan and revenue per lead arrangements. SMB products revenue is primarily generated through revenue per funded loan, revenue per action and revenue per lead arrangements. Emerging verticals revenue is primarily generated through revenue per click, revenue per action and revenue per lead arrangements.

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

Business Combination - Schedule of Preliminary Purchase Consideration (Details) $ / shares in Units, shares in Millions, $ in Millions	Jul. 11, 2022 USD ($) $ / shares shares
Asset Acquisition [Line Items]
Cash deposited in escrow	$ 12.2
Issuance of Class A common stock for business combination (in shares) \| shares	4.9
On the Barrelhead, Inc.
Asset Acquisition [Line Items]
Cash consideration	$ 75.7
Stock consideration	43.2
Total consideration	118.9
Less: amounts considered separate from the business combination and attributable to post-combination expense	(0.7)
Purchase Consideration	$ 118.2
Business acquisition, share price (in USD per share) \| $ / shares	$ 8.75

Redeemable Convertible Preferred Stock (Tables)

12 Months Ended

Dec. 31, 2023

Temporary Equity Disclosure [Abstract]

Schedule of Redeemable Convertible Preferred Stock

A summary of the Company’s Series A redeemable convertible preferred stock activity is as follows:


(in millions, except share amounts which are in thousands)	2021
Year Ended December 31,	Shares	Amount
Balance as of beginning of year	7,687	$	68.8
Repurchase of Series A redeemable convertible preferred stock	(102)	(2.1)
Conversion of Series A redeemable convertible preferred stock to Class A common stock	(58)	(0.5)
Conversion of Series A redeemable convertible preferred stock to Class A common stock upon initial public offering	(7,527)	(66.2)
Balance as of end of year	—	$	—

Goodwill and Intangible Assets - Future Amortization Expense (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 13.8
2025	13.5
2026	12.5
2027	7.1
Net Carrying Amount	$ 46.9	$ 64.1

Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance as of beginning of year	$ 9.9	$ 8.4	$ 6.3
Increases related to prior year tax positions	0.5	0.0	0.6
Decreases related to prior year tax positions	(1.1)	(0.2)	0.0
Expiration of statute of limitations	(0.4)	0.0	0.0
Current year increases	3.0	1.7	1.5
Balance as of end of year	$ 11.9	$ 9.9	$ 8.4

Stockholders' Equity

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Stockholders' Equity

Stockholders’ Equity

Preferred Stock—Under the Company’s amended and restated certificate of incorporation, which became effective upon completion of the Company’s IPO on November 8, 2021, the Company is authorized to issue 5.0 million shares of preferred stock with a par value of $0.0001 per share. The Company’s Board of Directors may fix the rights, preferences, privileges and restrictions of the preferred stock in one or more series and authorize their issuance. These rights, preferences and privileges could include dividend rights, conversion rights, voting rights, terms of redemption, liquidation preferences, sinking fund terms and the number of shares constituting any series or the designation of such series, any or all of which may be greater than the rights of the Company’s common stock. There were no shares of preferred stock outstanding as of December 31, 2023 or 2022.

Common Stock—Under the Company’s amended and restated certificate of incorporation, which became effective upon completion of the Company’s IPO on November 8, 2021, the Company is authorized to issue 296.7 million shares of common stock with a par value of $0.0001 per share, including 265.0 million shares of Class A common stock and 31.7 million shares of Class B common stock. In connection with the Company’s IPO, all 31.7 million shares of the Company’s then-outstanding Class F common stock were converted into an equal number of shares of Class B common stock.

Holders of all classes of common stock are entitled to dividends when, as and if, declared by the Company’s Board of Directors, subject to the rights of the holders of all classes of stock outstanding having priority rights to dividends. The holder of each share of Class A common stock is entitled to one vote, while the holder of each share of Class B common stock is entitled to 10 votes. Prior to the Company’s IPO, the holder of each share of Class F common stock was entitled to 10 votes and the holders of Class G common stock were not entitled to vote.

Shares of Class B common stock are convertible, at any time at the option of the holder, into an equal number of shares of Class A common stock and automatically convertible upon Transfer, as defined below. Prior to the Company’s IPO, shares of Class F common stock and Class G common stock were convertible into an equivalent number of shares of Class A common stock and generally converted into shares of Class A common stock upon Transfer, as defined below. Class F common stock was convertible at the option of the holder at any time upon written notice to the transfer agent of the corporation and was automatically convertible upon Transfer. Class G common stock was not convertible at the option of the holder and was only automatically convertible upon Transfer.

Transfer is defined as any sale, assignment, transfer, conveyance, hypothecation or other transfer or disposition of such share or any legal or beneficial interest in such share, whether or not for value and whether voluntary or involuntary or by operation of law.

As of December 31, 2023 and 2022, there were 45.3 million and 43.4 million shares of Class A common stock issued and outstanding, respectively. Shares of Class B common stock issued and outstanding were 31.7 million as of both December 31, 2023 and 2022.

On November 8, 2021, the Company completed its IPO, in which the Company sold 8.3 million shares of its Class A common stock, which includes the exercise in full of the underwriters’ option to purchase 1.1 million shares of Class A common stock, at a public offering price of $18.00 per share. The net proceeds to the Company from the IPO were $140.0 million after deducting underwriting discounts and commissions of $10.1 million. Additionally, the Company incurred offering costs of $5.2 million related to the IPO.

Share Repurchase Plans—The Company announced on May 2, 2023 that its Board of Directors authorized a plan under which the Company may repurchase up to $20 million of its Class A common stock and, following the Company’s utilization of that share repurchase authorization, the Company announced on October 26, 2023 that its Board of Directors approved a new share repurchase authorization under which the Company may repurchase up to an additional $30 million of its Class A common stock (collectively, the Repurchase Plans). Subject to market conditions and other factors, the Repurchase Plans are intended to make opportunistic repurchases of the Company’s Class A common stock to reduce the Company’s outstanding share count. Under the Repurchase Plans, shares of Class A common stock may be repurchased in the open market through privately negotiated transactions or otherwise, in accordance with applicable securities laws and other restrictions. The Repurchase Plans do not have fixed expiration dates and do not obligate the Company to acquire any specific number of shares. The timing and terms of any repurchases under the Repurchase Plans are at management’s discretion and depend on a variety of factors, including business, economic and market conditions, regulatory requirements, prevailing stock prices and other considerations. Additionally, the Company may, from time to time, enter into Rule 10b-5 trading plans to facilitate repurchases. Shares repurchased under the Repurchase Plans are retired. During 2023, the Company repurchased 2.3 million shares of Class A common stock for $20.0 million, including costs associated with the repurchases.

Common Stock Transfers and Repurchase—In February 2021, the Company waived its right of first refusal and the CEO entered into a stock transfer agreement to sell approximately 0.1 million shares of Class A common stock to an existing investor at $14.00 per share for an aggregate purchase price of $2.1 million. The price per share was equivalent to the estimated fair value of the Company’s common stock on December 31, 2021 as determined by its Board of Directors with the assistance of a third-party valuation specialist.

In January 2021, the Company waived its right of first refusal and the CEO entered into a stock transfer agreement to sell approximately 1.1 million shares of Class F common stock to an existing investor at $14.00 per share for an aggregate purchase price of $15.0 million. Upon consummation of the sale to the third party, the shares of Class F common stock were automatically converted into shares of Class A common stock on a 1:1 basis in accordance with the rights and preferences of the Class F common stock. The price per share was equivalent to the estimated fair value of the Company’s common stock on December 31, 2021 as determined by its Board of Directors with the assistance of a third-party valuation specialist.

Also in January 2021, the Company entered into a repurchase agreement with the CEO to repurchase approximately 0.9 million shares of Class F common stock at $14.00 per share for an aggregate purchase price of $12.4 million.

Common Shares Reserved for Future Issuance

The Company had reserved the following shares of Class A common stock for future issuance:


(in thousands)
As of December 31,	2023	2022
Shares outstanding from stock options and restricted stock units	10,900	13,517
Shares available for future equity award grants	10,345	7,554
Shares available for future ESPP offerings	607	201
Total shares reserved	21,852	21,272

Equity Incentive Plans—In 2012, the Company’s Board of Directors approved the adoption of the 2012 Equity Incentive Plan (the 2012 Plan). In October 2021, the Company’s Board of Directors approved the adoption of the 2021 Equity Incentive Plan (the 2021 Plan) and the termination of the 2012 Plan, both of which became effective in connection with the Company’s IPO completed on November 8, 2021.

The 2021 Plan had an initial authorization to grant share-based awards for up to 4.1 million shares of Class A common stock, and additionally provides that any shares subject to outstanding awards under the 2012 Plan that are terminated, expire, are forfeited due to a failure to vest, are reacquired or withheld to satisfy a tax withholding obligation or to satisfy the purchase price or exercise price of a stock award will be added to the 2021 Plan and made available for future issuance. The termination of the 2012 Plan had no impact on the terms of outstanding awards under that plan. At the Company’s 2022 annual meeting of stockholders on May 25, 2022, the stockholders approved an amendment to the 2021 Equity Incentive Plan to increase the aggregate number of shares of Class A common stock reserved for issuance thereunder by 8.0 million shares. The number of shares of Class A common stock reserved for issuance under the 2021 Plan will automatically increase on January 1 of each calendar year, starting January 1, 2023 and ending on and including January 1, 2031, in an amount equal to 5% of the total number of shares of the Company’s capital stock outstanding on December 31 of the prior calendar year, unless the Company’s Board of Directors determines prior to the date of increase that there will be a lesser increase, or no increase.

Additionally, concurrent with the closing of the acquisition of OTB on July 11, 2022, the Compensation Committee of the Company’s Board of Directors granted RSU awards under the Inducement Plan to employees of OTB who were offered employment with the Company. See Note 5—Business Combination for further discussion. The 2021 Plan and the predecessor 2012 Plan, both as amended, along with the Inducement Plan (collectively, the Plans) provide for the grant of incentive and non-statutory stock options, stock appreciation rights, restricted stock units and restricted stock awards to employees, non-employee directors and consultants of the Company. Options to purchase Class A common stock granted under the Plans continue to vest until the last day of employment and generally will vest 25% in the first year and monthly thereafter (for a total vesting period of 4 years), and expire 10 years from the date of grant. Class A common stock awards are generally issued to officers, directors, employees and consultants, and vest according to an award-specific schedule as approved by the Board of Directors.

The exercise price of incentive stock options granted under the Plans must be at least equal to 100% of the fair market value of the Company’s Class A common stock at the date of grant, as determined by the Board of Directors. The exercise price must not be less than 110% of the fair market value of the Company’s Class A common stock at the date of grant for incentive stock options granted to an employee that owns greater than 10% of the Company stock.

A summary of the Company’s stock option activity for its Plans is as follows:


	Outstanding Stock Options (in thousands)	Weighted- Average Exercise Price	Weighted- Average Remaining Contractual Life (in years)	Aggregate Intrinsic Value (in millions)
Balance as of December 31, 2022	6,112	$9.81	6.7	$11.9
Exercised	(1,584)	$6.44
Cancelled/forfeited	(416)	$12.40
Balance as of December 31, 2023	4,112	$10.84	6.3	$18.7
Vested and exercisable as of December 31, 2023	2,986	$10.21	5.7	$15.2

There were no options granted during 2023. The weighted-average grant-date fair value of options granted during 2022 and 2021 was $5.54 and $9.60 per share, respectively. The intrinsic value of options exercised was $14.5 million, $6.7 million and $30.0 million during 2023, 2022 and 2021, respectively.

Total unrecognized compensation cost related to non-vested stock options granted under the Plans was $7.5 million as of December 31, 2023, with the cost expected to be recognized over a weighted-average period of 1.8 years.

The Company estimates the fair values of options awarded on the date of grant using the Black-Scholes-Merton option-pricing model, which requires inputs, including the fair value of common stock, expected term, expected volatility, risk-free interest and dividend yield.

The Company estimates the expected term of options using the simplified method described in Staff Accounting Bulletin Topic 14, as amended, as it does not have sufficient historical experience for determining the expected term of the awards granted. Expected volatility is estimated based on the average historical volatility of similar entities with publicly traded shares. The risk-free rate for the expected term of the option is based on the U.S. Treasury yield curve at the date of grant. The expected dividend yield was 0% as the Company has not paid, and does not expect to pay, cash dividends. For awards granted prior to the IPO, the Company’s Board of Directors considered numerous objective and subjective factors to determine the fair value of the Company’s Class A common stock at each meeting at which awards were approved. These factors included, but were not limited to (i) contemporaneous third-party valuations of Class A common stock; (ii) the rights and preferences of Redeemable Convertible Preferred Stock compared to Class A common stock; (iii) the lack of marketability of Class A common stock; (iv) developments in the business; and (v) the likelihood of achieving a liquidity event, such as an IPO or a sale of the Company, given prevailing market conditions.

The per-share fair value of each stock option was determined on the date of grant using the following weighted-average assumptions and ranges of fair value of common stock:


Year Ended December 31,	2022		2021
Expected volatility	52.5	%	53.7	%
Expected term (in years)	6.0		6.0
Expected dividend yield	0	%	0	%
Risk-free interest rate	2.6	%	1.1	%

In March 2021, the Company entered into an Option Cancellation Agreement with a former member of its Board of Directors and his affiliated entity, pursuant to which the Company cancelled options to purchase an aggregate of 0.2 million shares of Class A common stock. The total consideration paid for the option cancellation was $2.4 million, of which $1.0 million was recognized as compensation expense for the excess amount paid over the purchase-date fair market value of the options.

Restricted Stock Units—The Plans also provide for the issuance of RSUs of the Company’s common stock to eligible participants. During 2020, the Company began issuing RSUs to certain employees and directors under the 2012 Plan. These RSUs are subject to service-based vesting conditions. The service-based vesting condition is generally satisfied over four years.

A summary of the Company’s outstanding nonvested RSUs for its Plans is as follows:


	Number of Units (in thousands)	Weighted-Average Grant Date Fair Value
Nonvested as of December 31, 2022	7,405	$	12.27
Granted1	2,719	$	14.58
Vested	(2,253)	$	13.73
Forfeited	(1,083)	$	14.11
Nonvested as of December 31, 2023	6,788	$	12.42

______________

(1)Includes 0.2 million of target award RSUs with both service-based and performance-based conditions.

During 2023, the Company granted 0.2 million of target award RSUs with both service-based and performance-based conditions to certain employees of the Company. Recipients of these performance-based RSUs are eligible to earn between 0% and 200% of their target awards based upon the achievement of (i) an EBITDA-related metric and (ii) a revenue-related metric, both in fiscal year 2023, subject to certification of the attainment of the performance level. These performance-based RSUs are also subject to service-based vesting over a period of three years. Stock-based compensation for performance-based RSUs is recognized over the requisite service period using the accelerated attribution method based on an assessment of the probability of achieving the requisite performance metrics. The Company recognizes forfeitures as they occur for grantees who do not fulfill the service-based conditions.

The total fair value of shares that vested under RSUs was $27.0 million and $17.7 million during 2023 and 2022, respectively.

Unrecognized compensation cost related to RSUs was $69.9 million as of December 31, 2023, with these costs expected to be recognized over a weighted-average period of approximately 2.4 years.

Employee Stock Purchase Plan—The Company sponsors an ESPP which became effective in connection with the Company’s IPO completed on November 8, 2021. The ESPP allows eligible employees to buy shares of the Company’s Class A common stock at a 15% discount of the stock’s market value on defined dates. The ESPP authorizes the issuance of 0.8 million shares of the Company’s Class A common stock under purchase rights granted to eligible employees, with automatic increases in the number of shares reserved for issuance on January 1 of each calendar year, beginning in 2023 and through 2031, subject to terms of the ESPP. There were 0.3 million shares of the Company’s Class A common stock purchased under the ESPP during 2023. Prior to capitalizing amounts related to software development costs, the Company recognized stock-based compensation related to the ESPP of $3.6 million and $6.3 million during 2023 and 2022, respectively. There was no unrecognized compensation cost related to the ESPP as of December 31, 2023. The impact of forfeitures under the ESPP are recognized as forfeitures occur.

The fair value of purchase rights granted under the ESPP were determined on the date of grant using the following weighted-average assumptions:


Year Ended December 31,	2023		2022
Expected volatility	79.4	%	59.6	%
Expected term (in years)	0.7		1.0
Expected dividend yield	0	%	0	%
Risk-free interest rate	4.9	%	2.8	%

Stock-Based Compensation—The Company recognized stock-based compensation under the Plans and ESPP as follows:


(in millions)
Year Ended December 31,	2023		2022		2021
Research and development	$	11.2	$	12.0	$	6.8
Sales and marketing	13.8		12.4		5.8
General and administrative	13.8		10.0		5.3
Total	$	38.8	$	34.4	$	17.9

In addition, stock-based compensation of $5.5 million, $6.3 million and $3.3 million was capitalized related to software development costs in 2023, 2022 and 2021, respectively.

The Company did not recognize any tax benefit for stock-based compensation arrangements in 2023, 2022 or 2021 due to the valuation allowance maintained against our net U.S. deferred tax assets.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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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 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

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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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Schedule of Components of Lease Costs

Components of operating lease costs are as follows:


(in millions)
Year Ended December 31,	2023		2022		2021
Operating lease cost	$	3.4	$	3.4	$	8.6
Sublease income	—		—		(1.5)
Net lease cost	$	3.4	$	3.4	$	7.1

Lease term and discount rate are as follows:


As of December 31,	2023		2022
Weighted-average remaining lease term (years)	4.0		4.6
Weighted-average discount rate	5.3	%	5.3	%

Schedule of Payments of Lease Liabilities

The maturities of lease liabilities as of December 31, 2023 are as follows:


(in millions)
Years Ending December 31,	Amount
2024	$	3.8
2025	2.5
2026	1.2
2027	1.3
2028	1.3
Thereafter	0.6
Total undiscounted cash flows	$	10.7
Less: imputed interest	(1.1)
Present value of lease liabilities	$	9.6
Less: lease liabilities, current	(3.4)
Total lease liabilities, noncurrent	$	6.2