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Equity Awards and Instruments (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Schedule of Stock-based Compensation Expense

Total stock‑based compensation expense was as follows:

			Year Ended December 31,
			2021						2020						2019
Bonus Plan expense (see Note 11)			$	23,121					$	6,524					$	—
Restricted stock and RSUs expense (1)			19,917						4,248						1,749
Stock option expense			3,271						6,858						6,342
ESPP expense (see Note 13)			2,118						—						—
Stock grants expense			445						319						—
DCP elective participant deferrals expense (2) (see Note 12)			173						—						—
IPO vested restricted stock and RSU expense			—						15,102						—
Total stock-based compensation expense (3)			$	49,045					$	33,051					$	8,091

(1)Includes acquisition‑related shares (see Note 4).

(2)DCP elective participant deferrals expense excludes deferred incentive bonus payable pursuant to the Bonus Plan.

(3)As of December 31, 2021 and 2020, $6,749 and $6,835 remained in Accruals and other current liabilities in the consolidated balance sheets, respectively.

Total stock‑based compensation expense is included in the consolidated statements of operations as follows:

			Year Ended December 31,
			2021						2020						2019
Cost of subscriptions and licenses			$	1,442					$	960					$	115
Cost of services			1,257						2,939						522
Research and development			19,740						12,105						3,107
Selling and marketing			5,980						6,692						2,210
General and administrative			20,626						10,355						2,137
Total stock-based compensation expense			$	49,045					$	33,051					$	8,091

Schedule of Valuation Assumptions

The following weighted average assumptions were used in the Black‑Scholes option pricing model to estimate the fair values of stock options granted during the years ended December 31, 2020 and 2019. The Company did not grant stock options during the year ended December 31, 2021.

			Year Ended December 31,
			2020						2019
Expected volatility			31.04%						29.57%
Expected dividend yield			1.11%						1.38%
Risk-free interest rate			1.31%						2.48%
Expected term (in years)			3.75						3.75
Weighted average grant date fair value of stock options issued			$2.49						$1.66

Schedule of Options

The following is a summary of stock option activity and related information under the Company’s applicable equity incentive plans:

															Weighted
									Weighted						Average
									Average						Remaining						Aggregate
			Stock						Exercise Price						Contractual						Intrinsic
			Options						Per Share						Life (in years)						Value
Outstanding, December 31, 2020			12,842,226						$	4.87
Exercised			(5,653,551)						4.36
Forfeited			(270,750)						5.56
Outstanding, December 31, 2021			6,917,925						$	5.26					1.57						$	297,933
Exercisable, December 31, 2021			3,837,800						$	5.00					1.26						$	166,305

Schedule of Restricted Stock and Restricted Stock Unit Activity

The following is a summary of unvested restricted stock and RSU activity and related information under the Company’s applicable equity incentive plans:

																					Time-						Performance-
																					Based						Based
									Time-						Performance-						Weighted						Weighted
			Total						Based						Based						Average						Average
			Restricted						Restricted						Restricted						Grant Date						Grant Date
			Stock						Stock						Stock						Fair Value						Fair Value
			and RSUs						and RSUs						and RSUs						Per Share						Per Share
Unvested, December 31, 2020			1,423,715						1,263,193						160,522			(3)			$	16.38					$	16.62
Granted			894,595			(1)			794,787						99,808			(4)			52.80						49.93
Vested			(399,893)						(364,963)						(34,930)			(3)			21.95						17.53
Forfeited			(209,872)						(81,155)						(128,717)						22.00						17.18
Unvested, December 31, 2021			1,708,545			(2)			1,611,862						96,683			(5)			$	32.81					$	49.93

(1)For the year ended December 31, 2021, the Company granted RSUs only.

(2)Includes 48,927 RSUs which are expected to be settled in cash.

(3)Relates to the 2020 annual performance period. Total stock‑based compensation expense associated with these awards was fully recognized as of December 31, 2020.

(4)Relates to the 2021 annual performance period.

(5)Relates to the 2021 annual performance period. Total stock‑based compensation expense associated with these awards was fully recognized as of December 31, 2021.

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