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Equity Incentive Plans (Tables) | 6 Months Ended
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Jun. 30, 2020
Share-based Payment Arrangement [Abstract] |
Schedule of Weighted-Average Fair Value Per Share for Stock Purchased Under ESPP Based on Assumptions | The assumptions used and the resulting weighted-average fair value per share for stock purchased under the ESPP during the three months ended June 30, 2020 were as follows:
Risk-free interest rate | 1.85 | %
Expected volatility | 52.18 | %
Expected term (years) | 0.67
Expected dividends | 0 | %
Weighted average grant-date fair value per share | $12.60
Recorded Stock-based Compensation Expense in the Condensed Consolidated Statement of Operations | The Company recorded stock-based compensation expense in the condensed consolidated statement of operations for the periods presented as follows (in thousands):
| Three Months Ended June 30, |  |  |  | Six Months Ended June 30, |  |
| 2020 |  | 2019 |  | 2020 |  | 2019
Cost of revenue | $ | 463 |  |  | $ | 58 |  |  | $ | 710 |  |  | $ | 90 |
Research and development | 6,044 |  |  | 1,291 |  |  | 8,931 |  |  | 1,798 |
Selling, general and administrative | 7,348 |  |  | 1,676 |  |  | 10,932 |  |  | 2,496 |
Total stock-based compensation expense | $ | 13,855 |  |  | $ | 3,025 |  |  | $ | 20,573 |  |  | $ | 4,384 |
Summary of RSU activity | The Company began granting restricted stock unit awards (“RSUs”) to employees and other service providers during the first quarter of 2020. RSU activity for the six months ended June 30, 2020 is as follows:
| Restricted Stock Units |  | Weighted-Average Grant Date Fair Value (per share)
Outstanding as of December 31, 2019 | — |  |  | $ | — |
Granted | 745,587 |  |  | 66.42 |
Vested | (40,999) |  |  | 65.91 |
Cancelled | (1,978) |  |  | 64.32 |
Outstanding as of June 30, 2020 | 702,610 |  |  | $ | 66.46 |
Summary of the Company's Stock Option Activity | Stock options activity for the six months ended June 30, 2020 is as follows:
| Stock Options |  | Weighted-Average Exercise Price
Outstanding as of December 31, 2019 | 15,918,243 |  |  | $ | 6.82 |
Granted | 1,646,898 |  |  | 76.98 |
Exercised | (3,858,369) |  |  | 1.91 |
Cancelled | (199,542) |  |  | 10.32 |
Outstanding as of June 30, 2020 | 13,507,230 |  |  | $ | 16.72 |

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- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of employee stock purchase plans, including, but not limited to: (a) expected term, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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