XML 28 R17.htm IDEA: XBRL DOCUMENT
v3.21.1

STOCK-BASED COMPENSATION | 3 Months Ended
--- | ---
Mar. 31, 2021
Share-based Payment Arrangement [Abstract] |
STOCK-BASED COMPENSATION | STOCK-BASED COMPENSATION Stock-based Compensation Expense Stock-based compensation expense for all stock-based awards expected to vest is measured at fair value on the date of grant and recognized ratably over the requisite service period. 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 |  |  |
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 |  |  |
As of March 31, 2021, there was approximately $107.4 million of total unrecognized stock-based compensation expense related to unvested equity awards, which are expected to be recognized over a weighted-average period of 3.0 years. Equity Awards Activity Stock Options 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. 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 |
Restricted Stock Units 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. Performance Stock Units 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.

X
- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration