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Equity Incentive Plans (Tables) | 3 Months Ended
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Mar. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Summary of Changes in Shares Available for Grant | Changes in shares available for grant during the three months ended March 31, 2024 were as follows:
|  | Shares Available for Grant |
Shares available for grant at December 31, 2023 |  |  | 15,299,763 |
2019 Equity Incentive Plan reserve increase effective January 1, 2024 |  |  | 7,254,113 |
Stock options and restricted stock units granted and the maximum market-based restricted stock units granted eligible to be earned |  |  | (8,399,478 | )
Stock options and restricted stock units forfeited or expired |  |  | 995,588 |
Shares available for grant at March 31, 2024 |  |  | 15,149,986 |
Summary of Stock Option Activity Under 2009 Plan and 2019 Plan | Stock option activity under the 2009 Plan and 2019 Plan during the three months ended March 31, 2024 was as follows:
|  | Shares Subject to Outstanding Stock Options |  |  | Weighted-Average Exercise Price per Share |  |  | Aggregate Intrinsic Value (in thousands) |
Stock options outstanding at December 31, 2023 |  |  | 12,875,045 |  |  | $ | 15.90 |  |  |  |
Stock options granted |  |  | 1,008,364 |  |  |  | 3.99 |  |  |  |
Stock options forfeited |  |  | (195,745 | ) |  |  | 17.55 |  |  |  |
Stock options expired |  |  | (67,952 | ) |  |  | 17.31 |  |  |  |
Stock options exercised |  |  | (30,900 | ) |  |  | 1.43 |  |  |  |
Stock options outstanding at March 31, 2024 |  |  | 13,588,812 |  |  | $ | 15.02 |  |  | $ | 108 |
Stock options vested and exercisable at March 31, 2024 |  |  | 9,662,208 |  |  | $ | 16.25 |  |  | $ | 108 |
Summary of Restricted Stock Unit Activity | Restricted stock unit activity under the 2019 Plan during the three months ended March 31, 2024 was as follows:
|  | Restricted Stock Units Outstanding |  |  | Weighted-Average Grant Date Fair Value per Share |
Nonvested restricted stock units outstanding at December 31, 2023 |  |  | 9,669,460 |  |  | $ | 10.32 |
Restricted stock units granted |  |  | 5,327,094 |  |  |  | 3.99 |
Restricted stock units forfeited |  |  | (731,891 | ) |  |  | 10.05 |
Restricted stock units vested |  |  | (2,255,158 | ) |  |  | 11.04 |
Nonvested restricted stock units outstanding at March 31, 2024 |  |  | 12,009,505 |  |  | $ | 7.39 |
Summary of Estimated Grant Date Fair Values of Stock Options Granted | The estimated grant date fair values of stock options granted during the three months ended March 31, 2024 and 2023 were estimated using the Black-Scholes option-pricing model with the following assumptions:
|  | Three Months Ended March 31,
|  | 2024 |  | 2023
Fair value of common stock |  | $3.99 |  | $8.46
Expected term (in years) |  | 5.27 - 6.08 |  | 5.27 - 6.08
Risk-free interest rate |  | 4.2% |  | 4.2% - 4.3%
Expected volatility |  | 74.5% - 75.0% |  | 71.2% - 71.6%
Expected dividend yield |  | — |  | —
Summary of Compensation Costs Related to Stock Options and RSUs Included on Unaudited Condensed Consolidated Statements of Operations | The compensation cost related to stock options, restricted stock units and market-based restricted stock units for the three months ended March 31, 2024 and 2023 are included on the unaudited condensed consolidated statements of operations as follows (in thousands):
|  | Three Months Ended March 31, |
|  | 2024 |  |  | 2023 |
Cost of revenue |  | $ | 906 |  |  | $ | 1,294 |
Research and development |  |  | 4,684 |  |  |  | 4,549 |
Sales and marketing |  |  | 3,013 |  |  |  | 3,431 |
General and administrative |  |  | 5,695 |  |  |  | 5,397 |
Total share-based compensation expense |  | $ | 14,298 |  |  | $ | 14,671 |
Schedule of Unrecognized Share-Based Compensation Expense and the Remaining Weighted-Average Recognition Period | As of March 31, 2024, unrecognized share-based compensation expense and the remaining weighted-average recognition period were as follows:
|  | Unrecognized Share-Based Compensation Expense (in thousands) |  |  | Remaining Weighted-Average Recognition Period (in years) |
Nonvested stock options |  | $ | 28,766 |  |  |  | 1.92 |
Nonvested restricted stock units |  |  | 83,591 |  |  |  | 2.79 |
Nonvested market-based restricted stock units |  |  | 14,271 |  |  |  | 2.28 |

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