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Stock-Based Compensation Expense | 3 Months Ended
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Mar. 31, 2023
Share-Based Payment Arrangement [Abstract] |
Stock-Based Compensation Expense | 12. Stock-Based Compensation Expense The following two tables show stock-based compensation expense by award type and where the stock-based compensation expense is recorded in the Company’s consolidated statements of operations:
|  | Three Months Ended March 31, |
|  | 2023 |  |  | 2022 |
|  | (in thousands) |
Options |  | $ | 2,707 |  |  | $ | 1,999 |
RSUs |  |  | 73,032 |  |  |  | 40,807 |
PSUs |  |  | 3,234 |  |  |  | — |
Employee stock purchase plan |  |  | 4,064 |  |  |  | 2,898 |
Total stock-based compensation expense |  | $ | 83,037 |  |  | $ | 45,704 |
In the first quarter of 2023, the Compensation Committee of the Board of Directors approved the grant of performance-based restricted stock units (“PSUs”) that are eligible to be earned upon the achievement of a pre-determined revenue growth metric. To the extent earned, 33% of the PSUs will vest in the first quarter of 2024 and the remaining 67% will vest in eight equal quarterly installments thereafter. No PSUs will be earned if the pre-determined revenue growth metric is not achieved, and the overall number of shares that may be earned shall not exceed 150% of the target award. Stock-based compensation costs for PSUs are recognized using the graded vesting attribution method over the requisite service period. Effect of stock-based compensation expense on income by line item:
|  | Three Months Ended March 31, |
|  | 2023 |  |  | 2022 |
|  | (in thousands) |
Cost of revenue, subscription |  | $ | 2,745 |  |  | $ | 1,823 |
Cost of revenue, professional services and other |  |  | 1,087 |  |  |  | 835 |
Research and development |  |  | 33,324 |  |  |  | 16,986 |
Sales and marketing |  |  | 30,169 |  |  |  | 16,869 |
General and administrative |  |  | 15,712 |  |  |  | 9,191 |
Total stock-based compensation expense |  | $ | 83,037 |  |  | $ | 45,704 |
Capitalized software development costs excluded from stock-based compensation expense is $4.6 million for the three months ended March 31, 2023 and $1.6 million for the three months ended March 31, 2022. Also excluded in the three months ended March 31, 2023 is $1.0 million of stock-based compensation expense incurred in connection with the Restructuring Plan. See Note 14 for more details.

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