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Stockholders' equity (Tables) | 6 Months Ended
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Jun. 30, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Common Stock Reserved for Future Issuance | Shares of common stock reserved for future issuance consisted of the following:
| June 30, |  | December 31,
| 2024 |  | 2023
2010 Equity Incentive Plan: |  |  |
Stock options outstanding | 2,417,020 |  |  | 4,621,021 |
2021 Equity Incentive Plan: |  |  |
RSUs outstanding and PSUs(1) | 18,817,070 |  |  | 16,738,309 |
Shares available for future issuance under: |  |  |
2021 Equity Incentive Plan | 9,357,028 |  |  | 4,093,695 |
2021 Employee Stock Purchase Plan | 3,374,376 |  |  | 2,350,803 |
Total shares of common stock reserved | 33,965,494 |  |  | 27,803,828 |
(1) For those PSUs in their respective performance periods, the number of shares reserved for issuance is based on the maximum achievement of the corporate performance metrics.
Schedule of RSU and PSU Activity | A summary of RSU and PSU activity under the 2021 Plan is as follows:
| RSUs Outstanding |  | Weighted Average Grant Date Fair Value |  | PSUs Outstanding(1) |  | Weighted Average Grant Date Fair Value
Unvested - December 31, 2023 | 15,769,577 |  | $ | 14.07 |  |  | 645,833 |  | $ | 8.89 |
Granted | 6,316,311 |  | 10.04 |  |  | 553,568 |  | 10.98 |
Released | (3,241,601) |  | 15.19 |  |  | (140,684) |  | 8.89 |
Canceled | (1,127,093) |  | 14.80 |  |  | (235,596) |  | 8.89 |
Unvested - June 30, 2024 | 17,717,194 |  | $ | 12.39 |  |  | 823,121 |  | $ | 10.30 |
Awards vested, not yet released - June 30, 2024 | 8,276 |  | $ | 9.66 |  |  | — |  |  | $ | — |
(1) Canceled PSU shares consist of awards forfeited as well as the difference in the number of shares granted at target in 2023 and the shares certified by the Board based on actual achievement.
Schedule of Option Activity | The following is a summary of activity for stock options having only service-based vesting conditions under the Equity Incentive Plans:
| Options Outstanding |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term |  | Aggregate Intrinsic Value (In Thousands)
Balance - December 31, 2023 | 4,571,021 |  |  | $ | 5.08 |  |  | 3.23 |  | $ | 44,309 |
Granted | — |  |  | — |  |  |  |  |
Exercised | (2,146,724) |  |  | 5.59 |  |  |  |  |
Canceled | (57,277) |  |  | 8.15 |  |  |  |  |
Balance - June 30, 2024 | 2,367,020 |  |  | $ | 4.54 |  |  | 4.92 |  | $ | 10,317 |
Vested & expected to vest as of June 30, 2024 | 2,367,020 |  |  | $ | 4.54 |  |  | 4.92 |  | $ | 10,317 |
Exercisable as of June 30, 2024 | 2,353,087 |  |  | $ | 4.48 |  |  | 4.91 |  | $ | 10,317 |
Schedule of Weighted Average Assumptions, Options | The following table summarizes the weighted-average assumptions used in the Black-Scholes option-pricing model to estimate the fair value of employee stock purchase rights granted under the new ESPP offering period:
| Three and Six Months Ended
| June 30, 2024
Risk-free interest rate | 5.1 | %
Expected volatility | 51.9 | %
Expected life (in years) | 1.3
Expected dividend yield | — | %
Schedule of Stock-Based Compensation Expense | Total stock-based compensation expense included in the condensed consolidated statements of operations was as follows (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Cost of revenue | $ | 1,813 |  |  | $ | 1,749 |  |  | $ | 3,470 |  |  | $ | 3,342 |
Sales and marketing | 7,664 |  |  | 8,099 |  |  | 15,005 |  |  | 15,376 |
Research and development | 7,329 |  |  | 6,423 |  |  | 14,004 |  |  | 12,717 |
General and administrative | 7,511 |  |  | 6,890 |  |  | 14,543 |  |  | 16,801 |
Restructuring charges | — |  |  | — |  |  | — |  |  | 1,208 |
Total stock-based compensation expense | $ | 24,317 |  |  | $ | 23,161 |  |  | $ | 47,022 |  |  | $ | 49,444 |

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