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Equity Incentive Plans (Tables)

6 Months Ended

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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Tabular disclosure of share-based payment arrangement.

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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.

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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.

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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.

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