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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2022
Share-Based Payment Arrangement [Abstract] |
Summary of Awards Outstanding by Each Award Type | The following table sets forth the number of awards outstanding for each award type as of:
| Outstanding at December 31,
Award type | 2022 |  | 2021
Restricted stock awards | 1,345,608 |  | 1,192,810 |
Time-based restricted stock units | 455,708 |  | 336,199 |
Performance-based restricted stock units | 1,104,260 |  | 943,071 |
Summary of Stock-Based Compensation Expense | The following table summarizes stock-based compensation expense:
| Years ended December 31,
(in thousands) | 2022 | 2021 | 2020
Included in cost of revenue: |  |  |
Cost of recurring | $ | 11,258 |  | $ | 12,405 |  | $ | 5,793 |
Cost of one-time services and other | 3,178 |  | 7,547 |  | 7,581 |
Total included in cost of revenue | 14,436 |  | 19,952 |  | 13,374 |
Included in operating expenses: |  |  |
Sales, marketing and customer success | 21,409 |  | 20,283 |  | 15,514 |
Research and development | 24,207 |  | 27,080 |  | 18,527 |
General and administrative | 50,242 |  | 53,064 |  | 39,842 |
Total included in operating expenses | 95,858 |  | 100,427 |  | 73,883 |
Total stock-based compensation expense | $ | 110,294 |  | $ | 120,379 |  | $ | 87,257 |
Summary of Unvested Restricted Stock Awards, Activity | The following table summarizes our unvested restricted stock awards as of December 31, 2022, and changes during the year then ended:
Restricted stock awards | Restricted stock awards | Weighted average grant-date fair value |  | Aggregate intrinsic value(1) (in thousands)
Unvested at January 1, 2022 | 1,192,810 |  | $ | 78.73 |  |  |
Granted | 846,295 |  | 60.90 |  |  |
Forfeited | (179,686) |  | 69.29 |  |  |
Vested | (513,811) |  | 79.83 |  |  |
Unvested at December 31, 2022 | 1,345,608 |  | 68.09 |  |  | $ | 79,202 |
(1)The intrinsic value is calculated as the market value as of the end of the fiscal period.
Summary of Unvested Restricted Stock Units, Activity | The following table summarizes our unvested, time-based restricted stock units as of December 31, 2022, and changes during the year then ended:
Time-based restricted stock units | Restricted stock units | Weighted average grant-date fair value |  | Aggregate intrinsic value(1) (in thousands)
Unvested at January 1, 2022 | 336,199 |  | $ | 77.99 |  |  |
Granted | 287,198 |  | 62.38 |  |  |
Forfeited | (48,343) |  | 65.80 |  |  |
Vested | (119,346) |  | 77.59 |  |  |
Unvested at December 31, 2022 | 455,708 |  | 68.81 |  |  | $ | 26,823 |
(1)The intrinsic value is calculated as the market value as of the end of the fiscal period. The following table summarizes our unvested, performance-based restricted stock units as of December 31, 2022, and changes during the year then ended:
Performance-based restricted stock units | Restricted stock units | Weighted average grant-date fair value |  | Aggregate intrinsic value(1) (in thousands)
Unvested at January 1, 2022 | 943,071 |  | $ | 73.62 |  |  |
Granted | 977,377 |  | 61.79 |  |  |
Forfeited | (114,071) |  | 63.47 |  |  |
Vested | (702,117) |  | 71.93 |  |  |
Unvested at December 31, 2022 | 1,104,260 |  | 64.94 |  |  | $ | 64,997 |
(1)The intrinsic value is calculated as the market value as of the end of the fiscal period.

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