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STOCK-BASED COMPENSATION (Tables) | 3 Months Ended
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Mar. 31, 2021
Share-based Payment Arrangement [Abstract] |
Summary of the Components of Total Stock-Based Compensation Expense | The following table summarizes the components of total stock-based compensation expense included in the condensed consolidated statements of operations for the periods presented.
|  |  | Three Months Ended March 31,
|  |  |  |  | 2021 |  | 2020 |  |
|  |  |  |  | (In thousands)
Cost of revenues |  |  |  |  | $ | 982 |  |  | $ | 606 |  |  |
Research and development |  |  |  |  | 5,749 |  |  | 1,919 |  |  |
Sales and marketing |  |  |  |  | 3,537 |  |  | 1,942 |  |  |
General and administrative |  |  |  |  | 4,576 |  |  | 3,048 |  |  |
Total |  |  |  |  | $ | 14,844 |  |  | $ | 7,515 |  |  |
Summary of Stock-Based Compensation Associated with Each Type of Award | The following table summarizes the various types of stock-based compensation expense for the periods presented.
|  |  | Three Months Ended March 31,
|  |  |  |  | 2021 |  | 2020 |  |
|  |  |  |  | (In thousands)
Stock options, RSUs, and PSUs |  |  |  |  | $ | 13,840 |  |  | $ | 7,077 |  |  |
Employee stock purchase plan |  |  |  |  | 1,004 |  |  | 438 |  |  |
Total |  |  |  |  | $ | 14,844 |  |  | $ | 7,515 |  |  |
Summary of Stock Option Activity | The following is a summary of stock option activity.
| Number of Shares Outstanding |  | Weighted- Average Exercise Price per Share |  | Weighted- Average Remaining Contractual Term |  | Aggregate Intrinsic Value (1)
| (In thousands) |  |  |  | (Years) |  | (In thousands)
Outstanding at December 31, 2020 | 2,532 |  |  | $ | 1.96 |  |  |  |  |
Granted | — |  |  | — |  |  |  |  |
Exercised | (55) |  |  | 3.91 |  |  |  |  | $ | 9,882 |
Canceled | (1) |  |  | 0.83 |  |  |  |  |
Outstanding at March 31, 2021 | 2,476 |  |  | $ | 1.92 |  |  | 3.5 |  | $ | 396,797 |
Vested and expected to vest at March 31, 2021 | 2,476 |  |  | $ | 1.92 |  |  | 3.5 |  | $ | 396,797 |
Exercisable at March 31, 2021 | 2,248 |  |  | $ | 1.92 |  |  | 3.5 |  | $ | 360,300 |
(1) The intrinsic value of options exercised is based upon the value of the Company’s stock at exercise. The intrinsic value of options outstanding, vested and expected to vest, and exercisable as of March 31, 2021 is based on the closing price of the last trading day during the period ended March 31, 2021. The Company’s stock fair value used in this computation was $162.16 per share.
Summary of Stock Option Outstanding | The following table summarizes information about stock options outstanding at March 31, 2021.
|  | Options Outstanding |  | Options Exercisable
Range of Exercise Prices |  | Number of Shares |  | Weighted- Average Remaining Life |  | Weighted- Average Exercise Price |  | Number of Shares |  | Weighted- Average Exercise Price
|  | (In thousands) |  | (Years) |  |  |  | (In thousands) |  |
$0.70 —– $1.11 |  | 533 |  |  | 4.0 |  | $ | 0.85 |  |  | 496 |  |  | $ | 0.85 |
$1.29 —– $1.29 |  | 1,000 |  |  | 3.5 |  | 1.29 |  |  | 875 |  |  | 1.29 |
$1.31 —– $1.31 |  | 670 |  |  | 3.0 |  | 1.31 |  |  | 649 |  |  | 1.31 |
$1.39 —– $14.58 |  | 262 |  |  | 3.7 |  | 5.52 |  |  | 219 |  |  | 6.12 |
$64.17 —– $64.17 |  | 11 |  |  | 6.1 |  | 64.17 |  |  | 9 |  |  | 64.17 |
Total |  | 2,476 |  |  | 3.5 |  | $ | 1.92 |  |  | 2,248 |  |  | $ | 1.92 |
Summary of Restricted Stock Unit Activity | The following is a summary of RSU activity.
| Number of Shares Outstanding |  | Weighted- Average Fair Value per Share at Grant Date |  | Weighted- Average Remaining Contractual Term |  | Aggregate Intrinsic Value (1)
| (In thousands) |  |  |  | (Years) |  | (In thousands)
Outstanding at December 31, 2020 | 3,588 |  |  | $ | 27.61 |  |  |  |  |
Granted | 168 |  |  | 183.78 |  |  |  |  |
Vested | (847) |  |  | 17.49 |  |  |  |  | $ | 163,030 |
Canceled | (12) |  |  | 88.18 |  |  |  |  |
Outstanding at March 31, 2021 | 2,897 |  |  | $ | 39.37 |  |  | 1.17 |  | $ | 469,766 |
Expected to vest at March 31, 2021 | 2,897 |  |  | $ | 39.37 |  |  | 1.17 |  | $ | 469,718 |
(1) The intrinsic value of RSUs vested is based upon the value of the Company’s stock when vested. The intrinsic value of RSUs outstanding and expected to vest as of March 31, 2021 is based on the closing price of the last trading day during the period ended March 31, 2021. The Company’s stock fair value used in this computation was $162.16 per share.
Share-based Compensation, Performance Shares Award Outstanding Activity | The following is a summary of PSU activity.
| Number of Shares Outstanding |  | Weighted- Average Fair Value per Share at Grant Date |  | Weighted- Average Remaining Contractual Term |  | Aggregate Intrinsic Value (1)
| (In thousands) |  |  |  | (Years) |  | (In thousands)
Outstanding at December 31, 2020 | 494 |  |  | $ | 51.10 |  |  |  |  |
Granted | 262 |  |  | 66.89 |  |  |  |  |
Vested | (494) |  |  | 59.19 |  |  |  |  | $ | 91,803 |
Canceled | (247) |  |  | 42.00 |  |  |  |  |
Outstanding at March 31, 2021 | 15 |  |  | $ | 193.74 |  |  | 0.4 |  | $ | 2,432 |
(1) The intrinsic value of PSUs vested is based upon the value of the Company’s stock when vested. The intrinsic value of PSUs outstanding and expected to vest as of March 31, 2021 is based on the closing price of the last trading day during the period ended March 31, 2021. The Company’s stock fair value used in this computation was $162.16 per share.

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