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Stockholders' Equity (Tables)
6 Months Ended
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 outstanding1,041
RSUs (including PRSUs) outstanding4,455
Shares available for future grant under 2014 Plan16,188
Shares available for future issuance under ESPP4,076
Total shares of common stock reserved25,760
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, 20221,481 $47.75 
Options granted — — 
Options exercised(379)18.42 
Options forfeited or expired(61)141.85 
Outstanding as of June 30, 20231,041 $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 SharesWeighted Average Grant Date Fair Value Per Share
Outstanding as of December 31, 20223,718 $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, 20234,455 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 EndedSix Months Ended
June 30, 2023June 30, 2022June 30, 2023June 30, 2022
Cost of revenue$9,888 $8,538 $19,221 $16,330 
Research and development13,013 11,818 25,395 21,963 
Sales and marketing17,391 14,963 34,436 28,387 
General and administrative13,075 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 OptionRSU
(excluding PRSUs)
PRSUESPP
Unrecognized stock-based compensation expense$7,082 $335,735 $19,362 $1,671 
Weighted-average amortization period1.8 years2.7 years2.1 years0.4 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 EndedSix Months Ended
June 30, 2023June 30, 2022June 30, 2023June 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 EndedSix Months Ended
June 30, 2023June 30, 2022June 30, 2023June 30, 2022
Closing price of common stock as of grant date— — $68.15 $110.00
Expected term (years)— — 2.842.84
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.