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Stockholders' Equity (Tables)
6 Months Ended
Jun. 30, 2024
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, 2024 were as follows (in thousands):
June 30, 2024
Stock options outstanding901
RSUs (including PRSUs) outstanding5,258
Shares available for future grant under 2014 Plan16,960
Shares available for future issuance under ESPP4,461
Total shares of common stock reserved27,580
Schedule of Stock Option Activity
A summary of the Company’s stock option activity during the six months ended June 30, 2024 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, 2023918 $55.96 
Options granted — — 
Options exercised(15)26.19 
Options forfeited or expired(2)(169.94)
Outstanding as of June 30, 2024901 $56.22 4.3$12,373 
Schedule of RSU Activity
A summary of the Company’s restricted stock unit ("RSU") activity, including PRSUs, during the six months ended June 30, 2024 is as follows (in thousands, except per share data):     
Number of SharesWeighted Average Grant Date Fair Value Per Share
Outstanding as of December 31, 20234,076 $83.25 
RSUs granted(1)
2,479 58.28 
RSUs vested and released(1,178)78.59 
RSUs forfeited or cancelled(119)83.15 
Outstanding as of June 30, 20245,258 72.15 
(1) Includes 159,016 PRSUs granted during the six months ended June 30, 2024.
Schedule of Stock-based Compensation Expense
Stock-based compensation expense was as follows (in thousands):
Three Months EndedSix Months Ended
June 30, 2024June 30, 2023June 30, 2024June 30, 2023
Cost of revenue$7,789 $9,888 $15,392 $19,221 
Research and development9,827 13,013 20,757 25,395 
Sales and marketing13,824 17,391 27,844 34,436 
General and administrative12,192 13,075 24,323 25,058 
Total stock-based compensation expense$43,632 $53,367 88,316 104,110 
Schedule of Unrecognized Compensation Expense
As of June 30, 2024, 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$2,844 $338,653 $16,483 $1,694 
Weighted-average amortization period1.2 years2.9 years1.7 years0.4 years
Schedule of Valuation Assumptions, Stock Option
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, 2024June 30, 2023June 30, 2024June 30, 2023
Closing price of common stock as of grant date— — 63.38 $68.15 
Expected term (years)— — 2.852.84
Volatility— — 49.4 51.1 %
Risk-free interest rate— — 4.5 %4.5 %
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.