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Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Schedule of Stock-Based Compensation Expense

Stock-based compensation expense for restricted stock, restricted stock units (RSUs), performance-based restricted stock units (PSUs), stock options and purchase rights issued under our employee stock purchase plan was classified in the accompanying consolidated statements of operations as follows:

			Year Ended December 31,
			2020						2019						2018
			(in thousands)
Stock-based compensation expense:
Cost of revenue			$	4,298					$	2,580					$	1,692
Research and development			24,423						15,670						10,822
Sales and marketing			16,826						11,883						7,569
General and administrative			18,341						10,531						7,510
Total stock-based compensation expense			$	63,888					$	40,664					$	27,593

Summary of Restricted Stock and Restricted Stock Unit Activity

Restricted stock, restricted stock unit and performance-based restricted stock unit activity during 2020, 2019 and 2018 was as follows:

			Restricted Stock												RSUs and PSUs
			Shares						Weighted- Average Grant Date Fair Value						Shares						Weighted- Average Grant Date Fair Value
Unvested balance as of December 31, 2017			210,083						$	18.00					1,988,509						$	14.77
Granted			—						—						2,099,394						25.19
Vested			(187,706)						18.80						(973,443)						17.41
Forfeited			(700)						23.01						(340,687)						18.96
Unvested balance as of December 31, 2018			21,677						10.88						2,773,773						21.21
Granted			—						—						1,740,299						43.34
Vested			(21,677)						10.88						(1,291,932)						24.42
Forfeited			—						—						(285,216)						26.14
Unvested balance as of December 31, 2019			—						—						2,936,924						32.43
Granted			—						—						1,725,531						57.57
Vested			—						—						(1,451,618)						33.66
Forfeited			—						—						(268,923)						40.56
Unvested balance as of December 31, 2020			—						$	—					2,941,914						$	45.86

Summary of Stock Option Activity

The following table summarizes information about stock option activity during the reporting periods:

			Shares						Weighted Average Exercise Price						Weighted Average Remaining Contractual Life (in years)						Aggregate Intrinsic Value (in thousands)
Outstanding as of December 31, 2017			4,684,954						$	9.68
Granted			107,850						24.44
Exercised			(944,658)						8.05												$	19,982
Forfeited/cancelled			(134,967)						15.20
Outstanding as of December 31, 2018			3,713,179						10.32
Granted			—						—
Exercised			(968,057)						10.55												$	39,526
Forfeited/cancelled			(9,730)						13.53
Outstanding as of December 31, 2019			2,735,392						10.10
Granted			—						—
Exercised			(783,645)						9.98												$	39,095
Forfeited/cancelled			(18,734)						17.87
Outstanding as of December 31, 2020			1,933,013						$	10.07					4.05						$	154,816
Vested and exercisable as of December 31, 2020			1,844,721						$	9.75					3.94						$	148,339

Summary of Share Based Compensation Valuation of Options Granted Assumptions

The following table reflects the assumptions used in the Black-Scholes option pricing model to calculate the expense related to the ESPP:

			Year Ended December 31,
			2020						2019						2018
Expected term (in years)			0.5 - 1.0						0.5 - 1.0						0.5 - 1.0
Expected volatility			47 - 53%						44 - 55%						37%
Risk-free interest rate			0.1 – 0.3%						1.9 – 2.5%						2.0 – 2.6%
Expected dividend yield			—						—						—
Grant date fair value per share			$9.63 – 22.30						$14.17 –17.94						$6.62 – 10.95

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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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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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