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Stock-based compensation (Tables) | 3 Months Ended
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Mar. 31, 2024
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 March 31,
|  |  |  |  | 2024 |  | 2023
|  |  |  |  | (in thousands)
Cost of revenue: |  |  |  |  |  |  |
Subscription |  |  |  |  | $ | 2,628 |  |  | $ | 2,267 |
Services |  |  |  |  | 412 |  |  | 309 |
Sales and marketing |  |  |  |  | 6,389 |  |  | 7,499 |
Research and development |  |  |  |  | 5,431 |  |  | 5,033 |
General and administrative |  |  |  |  | 5,719 |  |  | 4,442 |
|  |  |  |  | $ | 20,579 |  |  | $ | 19,550 |
Schedule of Stock-Option Activity | The table below summarizes return target option activity for the three months ended March 31, 2024:
| Options |  | Weighted‑ Average Exercise Price |  | Weighted‑ Average Remaining Contractual Term (Years) |  | Aggregate Intrinsic Value (in thousands)
Outstanding, December 31, 2023 | 2,594,622 |  |  | $ | 6.61 |  |  | 4.3 |  | $ | 29,697 |
Exercised | (10,000) |  |  | 7.33 |  |  |  |  | 127 |
Outstanding, March 31, 2024 | 2,584,622 |  |  | $ | 6.61 |  |  | 4.1 |  | $ | 30,339 |
Options exercisable at March 31, 2024 | 2,584,622 |  |  | $ | 6.61 |  |  | 4.1 |  | $ | 30,339 |
Vested or expected to vest at March 31, 2024 | 2,584,622 |  |  | $ | 6.61 |  |  | 4.1 |  | $ | 30,339 |
The table below summarizes the service-based option activity for the three months ended March 31, 2024:
| Options |  | Weighted‑ Average Exercise Price |  | Weighted‑ Average Remaining Contractual Term (Years) |  | Aggregate Intrinsic Value (in thousands)
Outstanding, December 31, 2023 | 1,048,885 |  |  | $ | 5.54 |  |  | 3.2 |  | $ | 13,129 |
Exercised | (37,583) |  |  | 5.49 |  |  |  |  | 473 |
Outstanding, March 31, 2024 | 1,011,302 |  |  | $ | 5.54 |  |  | 3.0 |  | $ | 12,950 |
Options exercisable at March 31, 2024 | 1,011,302 |  |  | $ | 5.54 |  |  | 3.0 |  | $ | 12,950 |
Vested or expected to vest at March 31, 2024 | 1,011,302 |  |  | $ | 5.54 |  |  | 3.0 |  | $ | 12,950 |
Schedule of Restricted Stock Units Stock Option Activity | RSU activity for the three months ended March 31, 2024 was as follows:
| Units |  | Weighted-Average Grant Date Fair Value (per share)
Outstanding, December 31, 2023 | 10,551,679 |  |  | $ | 24.49 |
Granted | 4,779,499 |  |  | 17.78 |
Vested | (1,347,681) |  |  | 22.75 |
Forfeited | (573,525) |  |  | 25.10 |
Outstanding, March 31, 2024 | 13,409,972 |  |  | $ | 22.25 |

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