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Stockholders' Equity (Tables) | 3 Months Ended
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Mar. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock Option Activity | Stock option activity during the three months ended March 31, 2024, was as follows (in thousands, except per share amounts):
|  | Stock Options Outstanding
| Shares |  | Weighted-Average Exercise Price |  | Weighted-Average Remaining Contractual Term |  | Aggregate Intrinsic Value (1)
|  |  |  |  | (in years) |  |
Outstanding as of December 31, 2023 | 13,043 |  | $ | 15.41 |  |  | 6.1 |  | $ | 282,197 |
Exercised | (1,383) |  | 12.15 |  |  |  |  |
Outstanding as of March 31, 2024 | 11,660 |  | $ | 15.79 |  |  | 6.2 |  | $ | 220,120 |
Exercisable as of March 31, 2024 | 6,314 |  | $ | 12.26 |  |  | 4.5 |  | $ | 141,485 |
(1)We calculate intrinsic value based on the difference between the exercise price of in-the-money-stock options and the fair value of our common stock as of the respective balance sheet date.
Schedule of Restricted Stock Unit Activity | RSU and RSA activity during the three months ended March 31, 2024, was as follows (in thousands, except per share amounts):
|  | Restricted Stock Units and Restricted Stock Awards Outstanding
|  | Shares |  | Weighted Average Grant Date Fair Value
Outstanding as of December 31, 2023 | 45,099 |  | $ | 25.83 |
Granted | 1,733 |  | 37.10 |
Released | (6,300) |  | 26.44 |
Forfeited | (1,531) |  | 25.71 |
Outstanding as of March 31, 2024 | 39,001 |  | $ | 26.23 |
Schedule of Share-Based Compensation Expense | Share-based compensation expense during the three months ended March 31, 2024 and 2023, was as follows (in thousands):
|  | Three Months Ended March 31, |  |
|  | 2024 |  | 2023 |  |  |  |  |  |
Cost of revenue | $ | 2,948 |  |  | $ | 2,309 |  |  |  |  |  |  |
Research and development | 102,355 |  |  | 94,265 |  |  |  |  |  |  |
Sales and marketing | 24,989 |  |  | 19,189 |  |  |  |  |  |  |
General and administrative | 32,181 |  |  | 27,359 |  |  |  |  |  |  |
Total share-based compensation | $ | 162,473 |  |  | $ | 143,122 |  |  |  |  |  |  |

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