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Stockholders' Equity (Tables) | 12 Months Ended
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Dec. 31, 2023
Stockholders' Equity Note [Abstract] |
Schedule of Stock Option Activity | The following table summarizes stock option activity during the year ended December 31, 2023:
|  | Number of Shares |  | Weighted-Average Exercise Price |  | Weighted-Average Remaining Contractual Term |  | Aggregate Intrinsic Value
|  | (in thousands) |  |  |  | (in years) |  | (in thousands)
Outstanding at December 31, 2022 |  | 2,443 |  |  | $ | 6.01 |  |  | 4.7 |  | $ | 7,674 |
Granted |  | 602 |  |  | 16.47 |  |  |  |  |
Exercised |  | (291) |  |  | 7.45 |  |  |  |  |
Forfeited |  | (44) |  |  | 8.41 |  |  |  |  |
Outstanding at December 31, 2023 |  | 2,710 |  |  | $ | 8.14 |  |  | 5.1 |  | $ | 26,383 |
Vested and exercisable at December 31, 2023 |  | 2,142 |  |  | $ | 5.94 |  |  | 3.8 |  | $ | 25,620 |
Schedule of Employee Stock Purchase Plan Valuation Assumptions | The Company estimated the fair value of stock option awards during the year ended December 31, 2023 on the date of the grant using the Black-Scholes option pricing model with the following weighted-average assumptions:
| Year ended December 31,
|  | 2023
Fair value of common stock |  | $16.47
Expected term (in years) |  | 5.96
Risk-free interest rate |  | 4.67%
Expected volatility |  | 71.2%
Dividend yield |  | —%
The Company estimated the fair value of shares granted under the ESPP on the first date of the offering period using the Black-Scholes option pricing model with the following assumptions:
|  | Year ended December 31,
|  | 2023 |  | 2022 |  | 2021
Fair value of common stock |  | $3.33 – $6.09 |  | $8.40 – $11.85 |  | $41.24 – $44.87
Expected term (in years) |  | 0.49 – 0.50 |  | 0.49 |  | 0.49 – 0.50
Risk-free interest rate |  | 4.65% – 5.43% |  | 1.57% – 4.65% |  | 0.02% – 0.07%
Expected volatility |  | 70% – 88% |  | 88% – 101% |  | 47% – 58%
Dividend yield |  | — | % |  | — | % |  | — | %
Schedule of Restricted Stock Units and Restricted Stock Awards | The following table summarizes RSU activity during the years ended December 31, 2023:
|  | Number of Shares |  | Weighted-Average Grant Date Fair Value Per Share
|  | (in thousands) |  |
Nonvested RSUs as of December 31, 2022 |  | 11,990 |  |  | $ | 20.10 |
Granted |  | 7,667 |  |  | 15.80 |
Vested |  | (6,719) |  |  | 18.94 |
Cancelled/forfeited |  | (1,694) |  |  | 22.80 |
Nonvested RSUs as of December 31, 2023 |  | 11,244 |  |  | $ | 17.46 |
|  | Number of Shares |  | Weighted-Average Grant Date Fair Value Per Share
|  | (in thousands) |  |
Nonvested executive PSUs as of December 31, 2022 |  | 267 |  |  | $ | 28.16 |
Granted |  | 762 |  |  | 15.88 |
Vested |  | (84) |  |  | 28.16 |
Cancelled/forfeited |  | (213) |  |  | 24.35 |
Nonvested executive PSUs as of December 31, 2023 |  | 732 |  |  | $ | 16.49 |
|  | Number of Shares |  | Weighted-Average Grant Date Fair Value Per Share
|  | (in thousands) |  |
Nonvested MPSUs as of December 31, 2022 |  | 2,174 |  |  | $ | 6.80 |
Granted |  | 87 |  |  | 7.25 |
Vested |  | (540) |  |  | 7.84 |
Cancelled/forfeited |  | (250) |  |  | 6.69 |
Nonvested MPSUs as of December 31, 2023 |  | 1,471 |  |  | $ | 6.46 |
Schedule of Stock-Based Compensation Expense | The following table summarizes the components of total stock-based compensation expense included in the accompanying consolidated statements of operations:
|  | Year ended December 31,
|  | 2023 |  | 2022 |  | 2021
|  | (in thousands)
Cost of revenue |  | $ | 11,656 |  |  | $ | 12,050 |  |  | $ | 7,227 |
Research and development |  | 47,827 |  |  | 58,435 |  |  | 47,019 |
Sales and marketing |  | 33,703 |  |  | 39,083 |  |  | 31,159 |
General and administrative |  | 43,117 |  |  | 36,228 |  |  | 55,083 |
Total |  | $ | 136,303 |  |  | $ | 145,796 |  |  | $ | 140,488 |

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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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (e)(1) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + 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 -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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