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Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2022
Share-based Payment Arrangement [Abstract]  
Summary of the Stock Option Activity
The following table summarizes stock option activity for the three months ended March 31, 2022:

Number of SharesWeighted Average Exercise PriceWeighted Average Remaining Contractual Term (Years)Aggregate Intrinsic Value (in thousands)
Outstanding at January 1, 2022
2,953,356 $15.16 4.0$147,812 
Granted— — — — 
Exercised(815,833)29.91 — 28,281 
Expired(580)9.81 — — 
Forfeited(8,000)12.10 — — 
Outstanding at March 31, 2022
2,128,943 $9.52 4.3$109,212 
Exercisable at March 31, 2022
1,996,823 $9.35 4.2$102,776 
Schedule of Restricted Stock Unit Activity
The following table summarizes RSU activity for the three months ended March 31, 2022:

Number of SharesWeighted Average Grant Date Fair Value
Non-vested and outstanding at January 1, 2022
1,209,529 $70.99 
Granted222,599 57.16 
Vested(47,038)69.01 
Forfeited(45,053)68.09 
Non-vested and outstanding at March 31, 2022
1,340,037 68.86 
Schedule of Components of Stock-based Compensation Expense
The following table summarizes the components of our stock-based compensation expense by instrument type for the three months ended March 31, 2022 and 2021 (in thousands):

Three Months Ended March 31,
20222021
RSUs$6,786 $4,005 
Stock options3,733 
Common stock awards to Board of Directors156 156 
Total stock-based compensation expense$6,943 $7,894 
Schedule of Stock-based Compensation Expense Included in Condensed Consolidated Statements of Operations
Stock-based compensation expense for RSUs, stock options, and issuances of common stock to the Board of Directors is included in the following line items in the accompanying condensed consolidated statements of operations for the three months ended March 31, 2022 and 2021 (in thousands):

Three Months Ended March 31,
20222021
Cost of revenue
Subscriptions$179 $297 
Professional services1,057 641 
Operating expenses
Sales and marketing1,788 1,108 
Research and development2,314 1,015 
General and administrative1,605 4,833 
Total stock-based compensation expense$6,943 $7,894