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Stockholders' Equity (Tables) | 12 Months Ended
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Dec. 31, 2022
Equity [Abstract] |
Schedule of Class A Common Stock Available for Future Issuance | The Company had reserved the following shares of Class A common stock for future issuance:
(in thousands) |  |  |  |
As of December 31, |  | 2022 |  | 2021
Shares outstanding from stock options and restricted stock units |  | 13,517 |  | 10,261
Shares available for future equity award grants |  | 7,554 |  | 3,679
Shares available for future ESPP offerings |  | 201 |  | 841
Total shares reserved |  | 21,272 |  | 14,781
Schedule of Stock Options Roll Forward | A summary of the Company’s stock option activity for its Plans is as follows:
|  | Outstanding Stock Options (in thousands) |  | Weighted Average Exercise Price |  | Weighted Average Contractual Life (Years) |  | Aggregate Intrinsic Value (in millions)
Balance as of December 31, 2021 |  | 6,443 |  |  | $8.84 |  |  | 6.5 |  | $45.3 |
Granted |  | 1,324 |  |  | $10.70 |  |  |  |  |
Exercised |  | (1,346) |  |  | $5.93 |  |  |  |  |
Cancelled/forfeited |  | (309) |  |  | $10.38 |  |  |  |  |
Balance as of December 31, 2022 |  | 6,112 |  |  | $9.81 |  |  | 6.7 |  | $11.9 |
Vested and exercisable as of December 31, 2022 |  | 3,861 |  |  | $8.03 |  |  | 5.6 |  | $11.2 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | The per-share fair value of each stock option was determined on the date of grant using the following weighted-average assumptions and ranges of fair value of common stock:
Year Ended December 31, |  | 2022 |  | 2021 |  | 2020
Expected volatility |  | 52.5 | % |  | 53.7 | % |  | 52.2 | %
Expected term (in years) |  | 6.0 |  | 6.0 |  | 6.1
Expected dividend yield |  | 0 | % |  | 0 | % |  | 0 | %
Risk-free interest rate |  | 2.6 | % |  | 1.1 | % |  | 0.6 | %
Schedule of Outstanding Nonvested RSUs | A summary of the Company’s outstanding nonvested RSUs for its Plans is as follows:
|  | Number of Units (in thousands) |  | Weighted-Average Grant Date Fair Value
Nonvested as of December 31, 2021 |  | 3,818 |  |  | $ | 18.07 |
Granted |  | 6,416 |  |  | $ | 10.47 |
Vested |  | (1,521) |  |  | $ | 16.12 |
Forfeited |  | (1,308) |  |  | $ | 15.65 |
Nonvested as of December 31, 2022 |  | 7,405 |  |  | $ | 12.27 |
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions | The fair value of purchase rights granted under the ESPP were determined on the date of grant using the following weighted-average assumptions:
Year Ended December 31, |  | 2022 |  | 2021
Expected volatility |  | 59.6 | % |  | 49.8 | %
Expected term (in years) |  | 1.0 |  | 1.4
Expected dividend yield |  | 0 | % |  | 0 | %
Risk-free interest rate |  | 2.8 | % |  | 0.4 | %
Schedule of Stock-based Compensation Expense | The Company recognized stock-based compensation under the Plans and ESPP as follows:
(in millions) |  |  |  |  |  |
Year Ended December 31, |  | 2022 |  | 2021 |  | 2020
Research and development |  | $ | 12.0 |  |  | $ | 6.8 |  |  | $ | 3.1 |
Sales and marketing |  | 12.4 |  |  | 5.8 |  |  | 1.9 |
General and administrative |  | 10.0 |  |  | 5.3 |  |  | 1.4 |
Total |  | $ | 34.4 |  |  | $ | 17.9 |  |  | $ | 6.4 |

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