v3.24.0.1

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Schedule of Reserved Shares of Common Stock for Issuance

As of December 31, 2023, the Company’s common stock reserved for issuance in the future is as follows (in thousands):

Common stock awards granted under equity incentive plans			13,984
Common stock awards available for issuance under the 2017 Employee Stock Purchase Plan *			5,089
Common stock awards available for issuance under the 2017 Equity Incentive Plan			27,880
Total reserved shares of common stock			46,953

* The Company has not issued any common stock pursuant to the 2017 Employee Stock Purchase Plan.

Summary of Restricted Stock Unit Activity

Restricted stock unit activity for the year ended December 31, 2023 is as follows (in thousands, except per share data):

			Number of Shares						Weighted-Average Grant Date Fair Value Per Share
Balance, December 31, 2022			8,577						$	120.82
Awarded			4,594						70.73
Released			(2,722)						115.33
Forfeited			(1,775)						114.42
Balance, December 31, 2023 - Outstanding			8,674						$	97.33

Schedule of Stock Option Activity

Stock option activity for the year ended December 31, 2023 is as follows (in thousands, except years and per share data):

			Number of Shares						Weighted-Average Exercise Price						Weighted-Average Remaining Contractual Life (Years)						Weighted-Average Grant Date Fair Value Per Share						Aggregate Intrinsic Value
Balance, December 31, 2022			5,807						$	72.79					7.1						—
Granted			559						72.75						—						$	42.43
Exercised			(753)						24.92						—						—
Forfeited and expired			(303)						143.59						—						—
Balance, December 31, 2023 - Outstanding			5,310						$	75.55					6.8						—						$	178,169
Balance, December 31, 2023- Exercisable			3,317						$	60.42					5.7						—						$	133,742

Schedule of Share-based Compensation Expense

The following table presents total stock-based compensation expense for the years ended December 31, 2023, 2022, and 2021 (in thousands):

			Years Ended December 31,
			2023						2022						2021
Cost of revenue, platform			$	1,478					$	1,229					$	827
Cost of revenue, devices			3,761						2,440						2,035
Research and development			147,989						147,653						77,770
Sales and marketing			130,362						123,946						63,503
General and administrative			86,540						84,663						43,397
Total stock-based compensation			$	370,130					$	359,931					$	187,532

Summary of Assumptions Used to Value Stock Options Granted

The assumptions used to value stock options granted during the years ended December 31, 2023, 2022, and 2021 are as follows:

			Years Ended December 31,
			2023						2022						2021
Expected term (in years)			5.0 - 5.8						5.0 - 6.8						5.0 - 6.8
Risk-free interest rate			3.48 - 4.72%						1.37 - 4.33%						0.36 - 1.2%
Expected volatility			61 - 63%						57 - 61%						38 - 39%
Dividend rate			—						—						—

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