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Share-based compensation (Tables)

9 Months Ended

Sep. 30, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Share-Based Compensation Expense

The Company recognized stock-based compensation expense for all equity arrangements as follows:

			Three Months Ended September 30,												Nine Months Ended September 30,
			2023						2022						2023						2022
			(in thousands)
Cost of revenue:
Subscription			$	2,653					$	2,479					$	7,635					$	6,495
Services			362						344						994						961
Sales and marketing			8,493						6,955						25,068						26,625
Research and development			6,429						5,130						17,863						19,620
General and administrative			10,412						5,582						26,522						35,823
			$	28,349					$	20,490					$	78,082					$	89,524

Schedule of Stock-Option Activity

The table below summarizes return target option activity for the nine months ended September 30, 2023:

			Options						Weighted‑ Average Exercise Price						Weighted‑ Average Remaining Contractual Term (Years)						Aggregate Intrinsic Value (in thousands)
Outstanding, December 31, 2022			3,272,920						$	6.75					5.8						$	47,623
Granted			—						—
Exercised			(668,298)						7.26												9,174
Forfeitures			—						—
Outstanding, September 30, 2023			2,604,622						$	6.62					4.6						$	28,762
Options exercisable at September 30, 2023			2,604,622						$	6.62					4.6						$	28,762
Vested or expected to vest at September 30, 2023			2,604,622						$	6.62					4.6						$	28,762

The table below summarizes the service-based option activity for the nine months ended September 30, 2023:

			Options						Weighted‑ Average Exercise Price						Weighted‑ Average Remaining Contractual Term (Years)						Aggregate Intrinsic Value (in thousands)
Outstanding, December 31, 2022			1,215,822						$	5.70					5.1						$	18,968
Granted			—						—
Exercised			(110,291)						7.13												1,490
Forfeitures			—						—
Outstanding, September 30, 2023			1,105,531						$	5.56					3.4						$	13,381
Options exercisable at September 30, 2023			1,092,239						$	5.52					3.3						$	13,255
Vested or expected to vest at September 30, 2023			1,105,531						$	5.56					3.4						$	13,381

Schedule of Restricted Stock Units Stock Option Activity

RSU activity for the nine months ended September 30, 2023 was as follows:

			Units						Weighted-Average Grant Date Fair Value (per share)
Outstanding, December 31, 2022			8,417,357						$	29.61
Granted			4,931,937						19.86
Vested			(1,572,281)						29.87
Forfeited			(685,324)						28.32
Outstanding, September 30, 2023			11,091,689						$	25.36

Schedule of Fair Value Assumptions

The Company used the following assumptions in the Black-Scholes option pricing model to estimate the fair value:

			Three and Nine Months Ended September 30, 2023
Expected term			0.5 years
Expected volatility			51.25%
Risk-free interest rate			5.14%
Expected dividend yield			—%

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