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Stockholders' Equity (Tables) | 6 Months Ended
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Jun. 30, 2023
Equity [Abstract] |
Schedule of Common Stock Reserved for Future Issuance | Shares of common stock reserved for future issuance related to outstanding equity awards and employee equity incentive plans as of June 30, 2023 were as follows (in thousands):
|  | June 30, 2023
Stock options outstanding |  | 1,041
RSUs (including PRSUs) outstanding |  | 4,455
Shares available for future grant under 2014 Plan |  | 16,188
Shares available for future issuance under ESPP |  | 4,076
Total shares of common stock reserved |  | 25,760
Schedule of Stock Option Activity | A summary of the Company’s stock option activity during the six months ended June 30, 2023 is as follows (in thousands, except per share data):
|  | Number of Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Life (Years) |  | Aggregate Intrinsic Value
Outstanding as of December 31, 2022 |  | 1,481 |  |  | $ | 47.75 |  |  |  |  |
Options granted |  | — |  |  | — |  |  |  |  |
Options exercised |  | (379) |  |  | 18.42 |  |  |  |  |
Options forfeited or expired |  | (61) |  |  | 141.85 |  |  |  |  |
Outstanding as of June 30, 2023 |  | 1,041 |  |  | $ | 52.88 |  |  | 5.0 |  | $ | 43,993 |
Schedule of RSU Activity | A summary of the Company’s restricted stock unit ("RSU") activity (including Performance-Based Restricted Stock Units "PRSUs") during the six months ended June 30, 2023 is as follows (in thousands, except per share data):
|  | Number of Shares |  | Weighted Average Grant Date Fair Value Per Share
Outstanding as of December 31, 2022 |  | 3,718 |  |  | $ | 103.55 |
RSUs granted(1) |  | 1,965 |  |  | 71.19 |
RSUs vested and released |  | (919) |  |  | 102.47 |
RSUs forfeited or canceled |  | (309) |  |  | 104.08 |
Outstanding as of June 30, 2023 |  | 4,455 |  |  | 87.64 |
(1) Includes 35,921 PRSUs granted during the six months ended June 30, 2023.
Schedule of Stock-based Compensation Expense | Stock-based compensation expense was as follows (in thousands):
|  | Three Months Ended |  | Six Months Ended
|  | June 30, 2023 |  | June 30, 2022 |  | June 30, 2023 |  | June 30, 2022
Cost of revenue |  | $ | 9,888 |  |  | $ | 8,538 |  |  | $ | 19,221 |  |  | $ | 16,330 |
Research and development |  | 13,013 |  |  | 11,818 |  |  | 25,395 |  |  | 21,963 |
Sales and marketing |  | 17,391 |  |  | 14,963 |  |  | 34,436 |  |  | 28,387 |
General and administrative |  | 13,075 |  |  | 9,467 |  |  | 25,058 |  |  | 17,499 |
Total stock-based compensation expense |  | $ | 53,367 |  |  | $ | 44,786 |  |  | 104,110 |  |  | 84,179 |
Schedule of Unrecognized Compensation Expense | As of June 30, 2023, unrecognized stock-based compensation expense by award type and expected weighted-average recognition periods are summarized in the following table (in thousands, except years).
|  | Stock Option |  | RSU (excluding PRSUs) |  | PRSU |  | ESPP
Unrecognized stock-based compensation expense |  | $ | 7,082 |  |  | $ | 335,735 |  |  | $ | 19,362 |  |  | $ | 1,671 |
Weighted-average amortization period |  | 1.8 years |  | 2.7 years |  | 2.1 years |  | 0.4 years
Schedule of Valuation Assumptions, Stock Option | The weighted-average assumptions used to value stock options granted during the periods presented were as follows:
Stock Options |  | Three Months Ended |  | Six Months Ended
|  | June 30, 2023 |  | June 30, 2022 |  | June 30, 2023 |  | June 30, 2022
Expected term (years) |  | — |  |  | 6.0 |  | — |  |  | 6.0
Volatility |  | — |  |  | 47.0 | % |  | — |  |  | 46.0 | %
Risk-free interest rate |  | — |  |  | 3.0 | % |  | — |  |  | 1.8 | %
Dividend yield (1) |  | — |  |  | — |  |  | — |  |  | — |
The weighted-average assumptions used to value PRSUs with market conditions granted during the periods presented were as follows:
PRSUs (Market Conditions) |  | Three Months Ended |  | Six Months Ended
|  | June 30, 2023 |  | June 30, 2022 |  | June 30, 2023 |  | June 30, 2022
Closing price of common stock as of grant date |  | — |  |  | — |  |  | $ | 68.15 |  |  | $110.00
Expected term (years) |  | — |  |  | — |  |  | 2.84 |  | 2.84
Volatility |  | — |  |  | — |  |  | 51.1 | % |  | 48.8 | %
Risk-free interest rate |  | — |  |  | — |  |  | 4.5 | % |  | 1.6 | %
Dividend yield (1) |  | — |  |  | — |  |  | — |  |  | — |
(1)The Company has not paid, and does not anticipate paying, cash dividends on its shares of common stock. Accordingly, the expected dividend yield is zero.

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