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Equity Incentive Plans (Tables)

3 Months Ended

Mar. 31, 2021

Share-based Payment Arrangement [Abstract]

Summarized Stock Option Activity

The following table summarized stock option activity for three months ended March 31, 2021:

						Number of Options						Weighted-Average Exercise Price Per Share						Weighted-Average Remaining Contractual Life (years)						Aggregate Intrinsic Value
Balances at December 31, 2020						19,600,223						$	4.27					6.8						$ 715,084
Options granted						606,830
Options exercised						(521,511)
Options cancelled and forfeited						(94,771)
Balances at March 31, 2021						19,590,771						$	7.42					6.6						$	2,379,126
Options exercisable – March 31, 2021						11,309,977						$	1.65					4.9						$	1,438,789
Options vested and expected to vest – March 31, 2021						19,168,127						$	6.95					6.5						$	2,336,779

Summaries Restricted Stock Unit Activity

The following table summarized RSU activity for three months ended March 31, 2021:

			Number of Shares						Weighted Average Grant Date Fair Value Per Share
Unvested at December 31, 2020			—
RSUs granted			835,307						$	101.56
RSUs vested			(342)						$	81.56
RSUs cancelled and forfeited			(7,773)						$	124.14
Unvested at March 31, 2021			827,192

Stock Options Fair Value Assumptions

The following assumptions were used to estimate the fair value of options granted:

Three Months Ended March 31,

2020

2021

Expected term (in years)

5.4 – 10.0

5.3 – 6.9

Expected volatility

53.23% – 55.35%

63.12% – 65.01%

Risk-free interest rate

1.34% – 1.50%

0.62% – 1.14%

Dividend yield

— %

— %

Employee Stock Purchase Plan Fair Value Assumptions

The following assumptions were used to estimate the fair value of the Company’s ESPP for the initial offering period:

															Three Months Ended March 31,
															2021
Expected term (in years)															0.6
Expected volatility															61.65%
Risk-free interest rate															0.09%
Dividend yield															— %

Stock-Based Compensation Expense

The Company recorded stock-based compensation in the following expense categories in its condensed consolidated statements of operations and comprehensive income for employees and nonemployees:

									Three Months Ended March 31,
									2020						2021
Sales and marketing									$	284					$	753
Customer operations									199						752
Engineering and product development									926						4,307
General, administrative, and other									556						2,810
Total									$	1,965					$	8,622

Stock-based compensation expense by award type was as follows:

									Three Months Ended March 31,
									2020						2021
Stock options									$	1,965					$	5,120
RSUs									—						1,445
ESPP									—						2,057
Total									$	1,965					$	8,622

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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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-Name Accounting Standards Codification
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Tabular disclosure of activity for outstanding award under share-based payment arrangement excluding share and unit options and nonvested award.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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