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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Summary of Stock-Based Compensation Expense
Stock-based compensation expense for 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,
 202320222021
 (in thousands)
Stock-based compensation expense:
Cost of revenue$10,700 $10,367 $6,491 
Research and development38,022 49,940 46,622 
Sales and marketing29,325 31,217 23,828 
General and administrative30,034 28,378 25,638 
Total stock-based compensation expense$108,081 $119,902 $102,579 
Summary of Restricted Stock and Restricted Stock Unit Activity RSUs and PSUs activity during 2023, 2022, and 2021 was as follows:
 Shares        Weighted-
Average Grant
Date Fair
Value
Unvested balance as of December 31, 20202,941,914 $32.43 
Granted1,957,794 92.74 
Vested(1,610,517)47.00 
Forfeited(510,314)66.67 
Unvested balance as of December 31, 20212,778,877 74.40 
Granted2,327,216 86.78 
Vested(1,481,333)69.80 
Forfeited(623,317)85.93 
Unvested balance as of December 31, 20223,001,443 83.88 
Granted2,304,140 41.76 
Vested(1,453,713)71.28 
Forfeited(1,137,444)67.81 
Unvested balance as of December 31, 20232,714,426 $61.60 
Summary of Stock Option Activity The following tables 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, 20201,933,013 $10.07 $154,816 
Granted— — 
Exercised(521,326)8.26 $49,522 
Forfeited/cancelled(300)7.73 
Outstanding as of December 31, 20211,411,387 10.74 $150,951 
Granted— — 
Exercised(479,223)6.92 $20,764 
Forfeited/cancelled(38)21.15 
Outstanding as of December 31, 2022932,126 12.70 $19,837 
Granted— — 
Exercised(215,856)14.14 $6,519 
Forfeited/cancelled— — 
Outstanding as of December 31, 2023716,270 12.26 1.97$32,115 
Vested and exercisable as of December 31, 2023716,270 $12.26 1.97$32,115 
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,
 202320222021
Expected term (in years)
0.5 - 1.0
0.5 - 1.0
0.5 - 1.0
Expected volatility
47 - 68%
37 - 57%
31 - 48%
Risk-free interest rate
4.5 – 5.5%
0.1 – 4.0%
0.5 – 0.7%
Expected dividend yield
—
—
—
Grant date fair value per share
$11.70 – $20.07
$15.50 – $29.58
$20.32 –$34.98
Summary of Common Shares Issued to Employees
The following table provides the number of common shares issued to employees, the purchase prices and aggregate proceeds for the purchase dates in the years ended December 31, 2023, 2022 and 2021:
 September 15, 2023March 15, 2023September 15, 2022March 15, 2022September 15, 2021March 15, 2021
 
Common shares issued152,419177,886218,31480,74773,676147,837
Purchase prices$33.78$34.71$45.31
$67.59 and $81.37
$52.60 and $67.59
$28.39 and $52.60
Aggregate proceeds$5.1 million$6.1 million$6.2 million$5.7 million$4.8 million$4.5 million