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Stockholders Equity (Tables) | 12 Months Ended
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Dec. 31, 2022
Equity [Abstract] |
Schedule of Share-based Payment Arrangement, Option, Activity | The following table summarizes the option award activity for the years ended December 31, 2022 and 2021 (in thousands, except share price, fair value and term):
| Number of Options |  | Weighted-Average Exercise Price |  | Weighted-Average Grant Date Fair Value |  | Weighted-Average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value (in thousands)
| Total |  | Service-based |  | Performance-based |  |  |  |
Outstanding at December 31, 2020 | 23,710 |  |  | 16,463 |  |  | 7,247 |  |  | $ | 14.85 |  |  |  |  | 7.84 |  | $ | 83,364 |
Granted | 5,668 |  |  | 3,749 |  |  | 1,919 |  |  | $ | 22.20 |  |  | $ | 8.20 |  |  |  |  |
Exercised | (1,276) |  |  | (1,024) |  |  | (252) |  |  | $ | 11.83 |  |  |  |  |  |  | $ | 13,742 |
Forfeited or expired | (2,218) |  |  | (1,420) |  |  | (798) |  |  | $ | 15.74 |  |  |  |  |  |  |
Outstanding at December 31, 2021 | 25,884 |  |  | 17,768 |  |  | 8,116 |  |  | $ | 16.53 |  |  |  |  | 7.36 |  | $ | 529,265 |
Exercised | (1,665) |  |  | (1,329) |  |  | (336) |  |  | $ | 12.19 |  |  |  |  |  |  | $ | 12,718 |
Forfeited or expired | (1,399) |  |  | (935) |  |  | (464) |  |  | $ | 17.01 |  |  |  |  |  |  |
Outstanding at December 31, 2022 | 22,820 |  |  | 15,504 |  |  | 7,316 |  |  | $ | 16.83 |  |  |  |  | 6.34 |  | $ | 51,157 |
Schedule of Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity | The following table summarizes RSU and PSU activity and related information during the year ended December 31, 2022 under the 2021 Plan (in thousands, except share price):
| Number of Shares |  | Weighted-Average Grant Date Fair Value
Unvested and outstanding as of December 31, 2020 | — |  |  | $ | — |
Granted | 7,635 |  |  | 33.02
Vested | — |  |  | — |
Forfeited | (65) |  |  | 32.98
Unvested and outstanding as of December 31, 2021 | 7,570 |  |  | $ | 33.02 |
Granted | 12,795 |  |  | 18.89 |
Vested | (1,998) |  |  | 31.43 |
Forfeited | (1,021) |  |  | 30.02 |
Unvested and outstanding as of December 31, 2022 | 17,346 |  |  | $ | 22.95 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | The fair values of the Service-based option awards granted during the years ended December 31, 2021 and 2020 were estimated using the following assumptions using the Black-Scholes pricing model:
| 2021 |  | 2020
Service-based Option Awards: |  |  |
Expected term (in years) | 3.4 |  | 2.9
Expected volatility | 39.4 | % |  | 36.4 | %
Risk-free interest rate | 0.4 | % |  | 0.3 | %
Expected dividend rate | — | % |  | — | %
The following table summarizes the weighted-average assumptions used in estimating the fair value of our Performance-based options using the Monte Carlo pricing model:
| 2021 |  | 2020
Performance-based Option Awards: |  |  |
Expected term (in years) | 1.9 - 2.7 |  | 3.4 - 3.9
Expected volatility | 40.0% - 45.0% |  | 45%
Risk-free interest rate | 1.2% - 1.5% |  | 0.6% - 0.7%
Expected dividend rate | —% |  | —%
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions | The following table summarizes the weighted-average assumptions used in estimating the fair value of the ESPP for the offering periods during the years ended December 31, 2022 and 2021 using the Black-Scholes pricing model:
| Year ended December 31,
| 2022 |  | 2021
ESPP: |  |  |
Expected term (in years) | 0.5 - 1.0 |  | 0.3 - 0.9
Expected volatility | 34.8% - 45.2% |  | 27.6% - 32.6%
Risk-free interest rate | 0.6% - 3.5% |  | 0.1%
Expected dividend rate | —% |  | —%
Fair value of common stock | $20.05 - $21.55 |  | $29.00
Schedule of Share-based Payment Arrangement, Expensed and Capitalized, Amount | The stock-based compensation (excluding deferred compensation) for the periods indicated below are as follows (in thousands):
| Year Ended December 31,
| 2022 |  | 2021 |  | 2020
Cost of revenues | $ | 20,763 |  |  | $ | 5,528 |  |  | $ | 916 |
Research and development | 40,045 |  |  | 11,114 |  |  | 2,531 |
Sales and marketing | 39,175 |  |  | 12,889 |  |  | 3,035 |
General and administrative | 35,879 |  |  | 15,486 |  |  | 5,562 |
Total stock-based compensation | $ | 135,862 |  |  | $ | 45,017 |  |  | $ | 12,044 |

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