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Equity Incentive Plans (Tables)

9 Months Ended

Sep. 30, 2024

Share-Based Payment Arrangement [Abstract]

Summary of Changes in Shares Available for Grant

Changes in shares available for grant during the nine months ended September 30, 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			(8,679,358	)
Stock options, restricted stock units and the maximum market-based restricted stock units forfeited or expired			3,942,536
Shares available for grant at September 30, 2024			17,817,054

Summary of Stock Option Activity Under 2009 Plan and 2019 Plan

Stock option activity under the 2009 Plan and 2019 Plan during the nine months ended September 30, 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			(710,677	)			11.69
Stock options expired			(695,796	)			19.19
Stock options exercised			(65,900	)			1.72
Stock options outstanding at September 30, 2024			12,411,036			$	15.06			$	1,374
Stock options vested and exercisable at September 30, 2024			9,774,517			$	16.21			$	371

Summary of Restricted Stock Unit Activity

Restricted stock unit activity under the 2019 Plan during the nine months ended September 30, 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			5,456,974				4.00
Restricted stock units forfeited			(2,240,483	)			8.02
Restricted stock units vested			(2,413,422	)			11.00
Nonvested restricted stock units outstanding at September 30, 2024			10,472,529			$	7.36

Summary of Estimated Grant Date Fair Values of Stock Options Granted

The estimated grant date fair values of stock options granted during the nine months ended September 30, 2024 and 2023 were estimated using the Black-Scholes option-pricing model with the following assumptions:

		Nine Months Ended September 30,
		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 and nine months ended September 30, 2024 and 2023, respectively, are included on the unaudited condensed consolidated statements of operations as follows (in thousands):

		Three Months Ended September 30,								Nine Months Ended September 30,
		2024				2023				2024				2023
Cost of revenue		$	952			$	917			$	2,869			$	3,272
Research and development			4,217				5,187				13,071				15,267
Sales and marketing			3,131				3,241				9,321				11,111
General and administrative			5,222				5,991				15,517				17,702
Total share-based compensation expense		$	13,522			$	15,336			$	40,778			$	47,352

Schedule of Unrecognized Share-Based Compensation Expense and the Remaining Weighted-Average Recognition Period

As of September 30, 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		$	16,935				1.60
Nonvested restricted stock units			59,201				2.39
Nonvested market-based restricted stock units			10,350				1.85

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