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STOCK-BASED COMPENSATION (Tables)

3 Months Ended

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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