XML 31 R19.htm IDEA: XBRL DOCUMENT
v3.22.2

STOCK-BASED COMPENSATION | 6 Months Ended
--- | ---
Jun. 30, 2022
Share-Based Payment Arrangement [Abstract] |
STOCK-BASED COMPENSATION | STOCK-BASED COMPENSATION Stock-based Compensation Expense Stock-based compensation expense for all stock-based awards, which includes stock options, restricted stock units (“RSUs”) and performance-based stock units (“PSUs”), expected to vest is measured at fair value on the date of grant and recognized ratably over the requisite service period. In addition, as part of certain business acquisitions, the Company is obligated to issue shares of common stock of the Company as payment subject to achievement of certain targets. For such payments, the Company records stock-based compensation classified as post-combination expense ratably over the measurement period presuming the targets will be met. 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 June 30, |  | Six Months Ended June 30,
| 2022 |  | 2021 |  | 2022 |  | 2021 |  |
| (In thousands)
Cost of revenues | $ | 3,131 |  |  | $ | 1,060 |  |  | $ | 5,638 |  |  | $ | 2,042 |  |  |
Research and development | 16,266 |  |  | 5,467 |  |  | 29,995 |  |  | 11,216 |  |  |
Sales and marketing | 22,176 |  |  | 5,335 |  |  | 35,233 |  |  | 8,872 |  |  |
General and administrative | 11,491 |  |  | 3,450 |  |  | 29,995 |  |  | 8,026 |  |  |
Total | $ | 53,064 |  |  | $ | 15,312 |  |  | $ | 100,861 |  |  | $ | 30,156 |  |  |
The following table summarizes the various types of stock-based compensation expense for the periods presented:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2022 |  | 2021 |  | 2022 |  | 2021 |  |
| (In thousands)
Stock options, RSUs and PSUs | $ | 47,228 |  |  | $ | 14,361 |  |  | $ | 91,340 |  |  | $ | 28,201 |  |  |
Employee stock purchase plan | 1,014 |  |  | 951 |  |  | 2,396 |  |  | 1,955 |  |  |
Post combination expense accrual (Accrued liabilities) | 4,822 |  |  | — |  |  | 7,125 |  |  | — |  |  |
Total | $ | 53,064 |  |  | $ | 15,312 |  |  | $ | 100,861 |  |  | $ | 30,156 |  |  |
As of June 30, 2022, there was approximately $319.8 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 2.3 years. Equity Awards Activity Stock Options The following table summarizes 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, 2021 | 2,264 |  |  | $ | 1.90 |  |  |  |  |
Granted | — |  |  | — |  |  |  |  |
Exercised | (360) |  |  | 1.74 |  |  |  |  | $ | 65,153 |
Canceled | (1) |  |  | 8.82 |  |  |  |  |
Outstanding at June 30, 2022 | 1,903 |  |  | $ | 1.93 |  |  | 2.4 |  | $ | 367,918 |
Vested and expected to vest at June 30, 2022 | 1,903 |  |  | $ | 1.93 |  |  | 2.4 |  | $ | 367,918 |
Exercisable at June 30, 2022 | 1,903 |  |  | $ | 1.93 |  |  | 2.4 |  | $ | 367,918 |
(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 June 30, 2022 is based on the closing price of the last trading day during the period ended June 30, 2022. The Company’s stock fair value used in this computation was $195.24 per share. The following table summarizes information about stock options outstanding at June 30, 2022:
|  | 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 |  | 479 |  |  | 2.8 |  | $ | 0.80 |  |  | 479 |  |  | $ | 0.80 |
$1.29 —– $1.29 |  | 1,000 |  |  | 2.2 |  | 1.29 |  |  | 1,000 |  |  | 1.29 |
$1.31 —– $5.53 |  | 380 |  |  | 2.0 |  | 2.15 |  |  | 380 |  |  | 2.15 |
$14.58 —– $14.58 |  | 33 |  |  | 3.8 |  | 14.58 |  |  | 33 |  |  | 14.58 |
$64.17 —– $64.17 |  | 11 |  |  | 4.8 |  | 64.17 |  |  | 11 |  |  | 64.17 |
Total |  | 1,903 |  |  | 2.4 |  | $ | 1.93 |  |  | 1,903 |  |  | $ | 1.93 |
Restricted Stock Units The following table summarizes 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, 2021 | 2,786 |  |  | $ | 100.73 |  |  |  |  |
Granted | 561 |  |  | 175.97 |  |  |  |  |
Vested | (916) |  |  | 67.21 |  |  |  |  | $ | 151,219 |
Canceled | (113) |  |  | 139.67 |  |  |  |  |
Outstanding at June 30, 2022 | 2,318 |  |  | 130.32 |  |  | 1.2 |  | $ | 452,664 |
Expected to vest at June 30, 2022 | 2,318 |  |  | $ | 130.32 |  |  | 1.2 |  | $ | 452,556 |
(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 June 30, 2022 is based on the closing price of the last trading day during the period ended June 30, 2022. The Company’s stock fair value used in this computation was $195.24 per share. Performance Stock Units The following summarizes 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, 2021 | 445 |  |  | $ | 169.82 |  |  |  |  |
Granted | 392 |  |  | 192.72 |  |  |  |  |
Vested | (303) |  |  | 168.88 |  |  |  |  | $ | 51,393 |
Canceled | (176) |  |  | 170.96 |  |  |  |  |
Outstanding at June 30, 2022 | 358 |  |  | $ | 195.14 |  |  | 0.7 |  | $ | 69,900 |
Expected to vest at June 30, 2022 | 358 |  |  | $ | 195.14 |  |  | 0.7 |  | $ | 69,900 |
(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 June 30, 2022 is based on the closing price of the last trading day during the period ended June 30, 2022. The Company’s stock fair value used in this computation was $195.24 per share.

X
- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI https://asc.fasb.org/topic&trid=2228938 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (l) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 4: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2)(i) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types: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