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Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2021

Stockholders' Equity Note [Abstract]

Schedule of Stock Option Activity

The following table summarizes stock option activity during the nine months ended September 30, 2021:

						Shares						Weighted- Average  Exercise Price						Weighted- Average Remaining Contractual Term						Aggregate Intrinsic Value
						(in thousands)												(in years)						(in thousands)
Outstanding at December 31, 2020						6,963						$	5.63					6.7						$	569,094
Granted						—						—
Exercised						(1,527)						5.96
Cancelled/forfeited						(261)						11.00
Outstanding at September 30, 2021						5,175						$	5.27					5.2						$	182,027
Vested and exercisable at September 30, 2021						3,912						$	3.97					4.6						$	142,675
Unvested and exercisable at September 30, 2021						173						$	6.65					7.1						$	5,841

Schedule of Unvested Exercised Options

The activity of non-vested shares as a result of early exercise of options granted to employees and non-employees, is as follows:

						Nine months ended September 30,
						2021
						(in thousands)
Beginning balance as of December 31, 2020						91
Early exercise of options						—
Vested						(43)
Repurchased						—
Ending balance as of September 30, 2021						48

Schedule of Restricted Stock Units

The following table summarizes RSU activity during the nine months ended September 30, 2021:

						Number of Shares						Weighted-Average  Grant Date Fair Value Per Share
						(in thousands)
Unvested RSUs as of December 31, 2020						4,520						$	30.01
Granted						1,890						63.95
Vested						(1,463)						33.52
Cancelled/forfeited						(470)						42.78
Unvested RSUs as of September 30, 2021						4,477						$	41.85

The following table summarizes the activity related to the revest shares during the nine months ended September 30, 2021:

						Number of Shares						Weighted-Average  Grant Date Fair Value Per Share
						(in thousands)
Unvested revest shares as of December 31, 2020						784						$	97.84
Vested						(336)						97.84
Cancelled/forfeited						—
Unvested revest shares as of September 30, 2021						448						$	97.84

The following table summarizes the activity related to the PSUs during the nine months ended September 30, 2021:

						Number of Shares						Weighted-Average  Grant Date Fair Value Per Share
						(in thousands)
Unvested PSUs as of December 31, 2020						88						$	65.11
Granted						71						102.06
Vested						(57)						44.25
Cancelled/forfeited						(12)						44.25
Unvested PSUs as of September 30, 2021						90						$	110.29

Employee Stock Purchase Plan, Valuation Assumptions

We estimated the fair value of shares granted under the ESPP using the Black-Scholes option pricing model with the following assumptions:

						Nine months ended September 30,
						2021						2020
Fair value of common stock						$12.66 - $24.07						$6.02 - 14.09
Expected term (in years)						0.49 to 0.50						0.50
Risk-free interest rate						0.02% - 0.10%						0.14% - 1.59%
Expected volatility						47% - 50%						43% - 60%
Dividend yield						—%						—%

Schedule of Stock-Based Compensation Expense

The following table summarizes the components of total stock-based compensation expense included in the accompanying Condensed Consolidated Statements of Operations:

						Three months ended September 30,												Nine months ended September 30,
						2021						2020						2021						2020
						(in thousands)
Stock-based compensation expense by caption:
Cost of revenue						$	1,897					$	929					$	4,911					$	2,634
Research and development						14,752						4,371						31,344						10,095
Sales and marketing						9,121						3,194						19,760						11,753
General and administrative						10,866						3,648						44,885						10,270
Total						$	36,636					$	12,142					$	100,900					$	34,752

X

- Definition

Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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- Definition

Tabular disclosure of number, weighted-average exercise price or conversion ratio, aggregate intrinsic value, and weighted-average remaining contractual term for outstanding restricted stock units that are fully vested and expected to vest. Includes, but is not limited to, unvested restricted stock units for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur.

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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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