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Stockholders' Equity (Tables)
3 Months Ended
Mar. 31, 2024
Equity [Abstract]  
Schedule of Reserved Shares of Common Stock for Issuance
As of March 31, 2024, the Company’s common stock reserved for issuance in the future is as follows (in thousands):
As of
 March 31, 2024
Common stock awards granted under equity incentive plans12,816 
Common stock awards available for issuance under the 2017 Employee Stock Purchase Plan (1)
5,089 
Common stock awards available for issuance under the 2017 Equity Incentive Plan35,560 
Total reserved shares of common stock53,465 
(1) 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 three months ended March 31, 2024 is as follows (in thousands, except per share data):
 
Number of
Shares
 
Weighted-Average
Grant Date Fair
Value per Share
Balance as of December 31, 2023
8,674 $97.33 
Awarded42 81.29 
Released(791)108.91 
Forfeited(206)97.87 
Balance as of March 31, 2024
7,719 $96.04 
Schedule of Stock Option Activity
Stock option activity for the three months ended March 31, 2024 is as follows (in thousands, except years and per share data):
 
Number of
Shares
Weighted-
Average
Exercise
Price
Weighted-
Average
Remaining
Contractual
Life (Years)
Aggregate
Intrinsic
Value
Balance as of December 31, 2023
5,310 $75.55 6.8
Granted25 78.74 — 
Exercised(222)37.20 — 
Forfeited and expired(16)194.35 — 
Balance as of March 31, 2024
5,097 $76.87 6.7$77,496 
 
Options exercisable as of March 31, 2024
3,368 $64.93 5.8$67,257 
Schedule of Stock-based Compensation Expense
The following table shows the total stock-based compensation expense for the three months ended March 31, 2024 and 2023 (in thousands):
 Three Months Ended
 March 31, 2024March 31, 2023
Cost of revenue, platform$414 $339 
Cost of revenue, devices899 804 
Research and development37,590 38,663 
Sales and marketing32,521 34,139 
General and administrative23,208 22,527 
Total stock-based compensation$94,632 $96,472