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Equity Incentive Plans (Tables)
12 Months Ended
Dec. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Changes in Shares Available for Grant

Changes in shares available for grant during the year ended December 31, 2020 were as follows:

 

 

 

Shares Available for Grant

 

Shares available for grant at December 31, 2019

 

 

15,396,254

 

2019 Plan reserve increase on January 1, 2020

 

 

6,261,907

 

Options and restricted stock units granted

 

 

(3,291,701

)

Options forfeited, cancelled or expired

 

 

250,541

 

Shares available for grant at December 31, 2020

 

 

18,617,001

 

Summary of Stock Option Activity Under 2008 Plan 2009 Plan and 2019 Plan

Stock option activity under the 2008 Plan, 2009 Plan and 2019 Plan during the year ended December 31, 2020 was as follows:

 

 

 

Shares

Subject to

Outstanding

Options

 

 

Weighted-

Average

Exercise Price

per Share

 

 

Aggregate

Intrinsic Value

(in thousands)

 

Options outstanding at December 31, 2019

 

 

16,646,654

 

 

$

6.14

 

 

$

398,379

 

Options granted

 

 

3,241,701

 

 

 

33.36

 

 

 

 

 

Options forfeited or cancelled

 

 

(235,541

)

 

 

16.17

 

 

 

 

 

Options expired

 

 

(15,000

)

 

 

0.16

 

 

 

 

 

Options exercised

 

 

(5,204,254

)

 

 

4.14

 

 

 

 

 

Options outstanding at December 31, 2020

 

 

14,433,560

 

 

$

12.82

 

 

$

668,458

 

Options vested and exercisable at December 31, 2020

 

 

7,924,779

 

 

$

6.41

 

 

$

417,801

 

Summary of Restricted Stock Unit Activity

Restricted stock unit activity under the 2019 Plan during the year ended December 31, 2020 was as follows:

 

 

 

Restricted

Stock Units

Outstanding

 

 

Weighted-

Average

Grant Date

Fair Value

per Share

 

Nonvested outstanding restricted stock units at December 31, 2019

 

 

4,500

 

 

$

41.63

 

Restricted stock units granted

 

 

50,000

 

 

 

28.10

 

Restricted stock units vested

 

 

(4,500

)

 

 

41.63

 

Nonvested outstanding restricted stock units at December 31, 2020

 

 

50,000

 

 

$

28.10

 

Summary of Estimated Grant Date Fair Value of Options Granted

The estimated grant date fair value of options granted during the year ended December 31, 2020, 2019 and 2018 was estimated using the Black-Scholes option-pricing model with the following assumptions:

 

 

 

Year Ended December 31,

 

 

 

2020

 

 

2019

 

 

2018

 

Fair value of common stock

 

$17.68 - $55.23

 

 

$7.80 - $47.81

 

 

$6.55

 

Expected term (in years)

 

5.27 - 6.08

 

 

5.27 - 6.08

 

 

6.08 - 10.00

 

Risk-free interest rate

 

0.4% - 1.7%

 

 

1.4% - 2.5%

 

 

2.6% - 3.0%

 

Expected volatility

 

70.5% - 73.3%

 

 

64.3% - 72.9%

 

 

65.0% - 69.2%

 

Expected dividend yield

 

 

 

 

 

 

 

 

 

Summary of Compensation Costs Related to Stock Options and RSUs Included on Statements of Operations The compensation costs related to stock options and restricted stock units for the years ended December 31, 2020, 2019 and 2018 are included on our statements of operations as follows (in thousands):

 

 

Year Ended December 31,

 

 

 

2020

 

 

2019

 

 

2018

 

Cost of revenue

 

$

817

 

 

$

555

 

 

$

398

 

Research and development

 

 

8,519

 

 

 

3,934

 

 

 

2,896

 

Sales and marketing

 

 

6,627

 

 

 

3,480

 

 

 

2,891

 

General and administration

 

 

8,798

 

 

 

5,155

 

 

 

4,964

 

Total share-based compensation expense

 

$

24,761

 

 

$

13,124

 

 

$

11,149