Annual report pursuant to Section 13 and 15(d)

Basis of Presentation and Summary of Significant Accounting Policies (Tables)

v3.22.1
Basis of Presentation and Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2021
Accounting Policies [Abstract]  
Property and Equipment The estimated useful life of each asset category is summarized as follows:
Estimated Useful Life
Office equipment
3 - 5 years
Phone hardware 3 years
Payment terminals 3 years
Office furniture 7 years
Leasehold improvements Shorter of remaining lease term or estimated life
Property and equipment consisted of the following (in thousands):
December 31, 2021 December 31, 2020
Office equipment $ 4,729  $ 3,835 
Office furniture 5,588  2,940 
Leasehold improvements 2,496  650 
Fixed assets not placed in service 118  1,340 
Capitalized internal-use software 3,533  1,100 
Phone hardware 26,034  23,102 
Payment terminals 1,581  430 
Property and equipment, gross 44,079  33,397 
Less accumulated depreciation and amortization (19,577) (15,103)
Property and equipment, net $ 24,502  $ 18,294 
Accounting Standards Update
The following table summarizes the adjustments made to the Company's consolidated balance sheet as of January 1, 2019 as a result of adopting ASC 606 (in thousands):
BALANCE SHEET
Reported as of 12/31/2018 ASC 606 adjustments Adjusted as of 1/1/2019
Deferred contract acquisition costs, net $ —  $ 5,791  $ 5,791 
Accumulated deficit (63,518) 5,791  (57,727)