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Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Schedule of Option Activity

A summary of the stock option activity is as follows:

			Number of options						Weighted average exercise price						Weighted average remaining contractual life						Aggregate intrinsic value
			(In thousands)												(In years)						(In thousands)
Balance as of December 31, 2020			33,750						$	1.74					7.95						$	175,444
Granted			13,790						12.29
Exercised			(12,988)						1.95
Cancelled and forfeited			(2,877)						6.51
Balance as of December 31, 2021			31,675						$	5.81					8.01						$	108,826
Vested and exercisable as of December 31, 2021			11,067						$	2.18					6.72						$	61,011

Schedule of Valuation Assumptions

The estimated grant date fair values of the employee stock options granted under the 2012 and 2021 Plan were calculated using the Black-Scholes Merton Option pricing model, based on the following weighted average assumptions:

									Year Ended December 31,
															2021						2020						2019
Expected term (years)															5.93						5.90						6.24
Expected volatility															32.85%						35.14%						38.83%
Risk-free interest rate															1.04%						0.58%						1.97%
Expected dividend yield															—						—						—

The estimated fair value of the first tranche as of the modification date was determined using Black-Scholes Merton Option pricing model, which resulted in fair value of $12.27 per share based on the following assumptions:

Fair value of common stock			$18.00
Expected term (years)			7.44
Expected volatility			45.00%
Risk-free interest rate			1.71%
Expected dividend yield			—

The remaining tranches were valued using a Monte Carlo simulation model. The weighted average estimated fair value of the remaining tranches as of the modification date was $3.80 per share based on the following assumptions:

Fair value of common stock			$18.00
Remaining contractual term (years)			14.75
Expected volatility			40.00%
Risk-free interest rate			1.71%
Expected dividend yield			—

Schedule of RSU Activity

A summary of the Company’s RSU activity and related information is as follows:

			Number of RSUs						Weighted average grant date fair value per share
			(In thousands)
Balance as of December 31, 2020			—						$	—
Granted			2,717						9.15
Vested			(108)						13.94
Cancelled and forfeited			(20)						13.89
Balance as of December 31, 2021			2,589						$	8.91

Schedule of Stock Based Compensation Expense

The Company’s stock-based compensation expense was as follows:

									Year Ended December 31,
															2021						2020						2019
															(In thousands)
Cost of revenue															$	753					$	79					$	46
Research and development															13,184						4,250						3,431
Sales and marketing															7,167						3,675						966
General and administrative															49,740						2,120						5,446
Total															$	70,844					$	10,124					$	9,889

Included in stock-based compensation expense are amounts related to the sale of employee stock on the secondary market to existing investors at a price above fair market value at the time of the sale. Stock-based compensation related to the secondary sales, which represents the amount paid to purchase shares of the Company’s common stock in excess of fair value, was as follows:

									Year Ended December 31,
															2021						2020						2019
															(In thousands)
Research and development															$	325					$	1,524					$	1,694
Sales and marketing															300						1,607						96
General and administrative															166						325						4,372
Total															$	791					$	3,456					$	6,162

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