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Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Schedule of Stock-Based Compensation Expense

Stock-based compensation expense recorded in the condensed consolidated statements of income was as follows (in thousands):

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Platform operations

 

$

2,518

 

 

$

1,639

 

 

$

11,624

 

 

$

5,459

 

Sales and marketing

 

 

9,099

 

 

 

6,916

 

 

 

37,362

 

 

 

18,549

 

Technology and development

 

 

11,269

 

 

 

7,911

 

 

 

41,337

 

 

 

24,345

 

General and administrative

 

 

11,573

 

 

 

10,386

 

 

 

41,687

 

 

 

25,398

 

Total

 

$

34,459

 

 

$

26,852

 

 

$

132,010

 

 

$

73,751

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Summary of Stock Option Activity

The following summarizes stock option activity:

 

 

 

Shares

Under Option

(in thousands)

 

 

Weighted-

Average

Exercise Price

 

Outstanding as of December 31, 2020

 

 

26,481

 

 

$

10.73

 

Granted

 

 

1,171

 

 

 

74.52

 

Exercised

 

 

(5,004

)

 

 

7.91

 

Cancelled

 

 

(1,186

)

 

 

18.20

 

Outstanding as of September 30, 2021

 

 

21,462

 

 

$

14.45

 

Exercisable as of September 30, 2021

 

 

13,962

 

 

$

7.97

 

 

 

Summary of Restricted Stock Activity

The following summarizes restricted stock activity:

 

 

 

RSU

(in thousands)

 

 

Weighted-

Average

Grant Date

Fair Value

 

Unvested as of December 31, 2020

 

 

5,698

 

 

$

26.10

 

Granted

 

 

2,166

 

 

 

73.70

 

Vested

 

 

(1,494

)

 

 

22.41

 

Forfeited

 

 

(575

)

 

 

28.72

 

Unvested as of September 30, 2021

 

 

5,795

 

 

$

44.58