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Stockholders' Equity (Tables) | 9 Months Ended
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Sep. 30, 2023
Equity [Abstract] |
Schedule of Stock Options | 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 Remaining Contractual Life (in years) |  | Aggregate Intrinsic Value (in millions)
Balance as of December 31, 2022 |  | 6,112 |  |  | $ | 9.81 |  |  | 6.7 |  | $ | 11.9 |
Exercised |  | (1,343) |  |  | $ | 6.79 |  |  |  |  |
Cancelled/forfeited |  | (299) |  |  | $ | 12.53 |  |  |  |  |
Balance as of September 30, 2023 |  | 4,470 |  |  | $ | 10.53 |  |  | 6.4 |  | $ | 6.0 |
Vested and exercisable as of September 30, 2023 |  | 3,081 |  |  | $ | 9.58 |  |  | 5.6 |  | $ | 5.7 |
Schedule of Weighted-Average Assumptions and Ranges of Fair Value of Common Stock | For the nine months ended September 30, 2022, the per-share fair value of each stock option was determined on the date of grant using the following weighted-average assumptions:
|  | Nine Months Ended September 30, 2022
Expected volatility |  | 52.5 | %
Expected term (in years) |  | 6.0
Expected dividend yield |  | 0 | %
Risk-free interest rate |  | 2.6 | %
Schedule of Outstanding Nonvested RSUs | A summary of the Company’s outstanding nonvested restricted stock units (RSUs) for its Plans is as follows:
|  | Number of Units (in thousands) |  | Weighted-Average Grant-Date Fair Value
Nonvested as of December 31, 2022 |  | 7,405 |  |  | $ | 12.27 |
Granted 1 |  | 2,632 |  |  | $ | 14.73 |
Vested |  | (1,711) |  |  | $ | 13.67 |
Forfeited |  | (826) |  |  | $ | 13.88 |
Nonvested as of September 30, 2023 1 |  | 7,500 |  |  | $ | 12.64 |
______________ (1)Includes 0.2 million of target award RSUs with both service-based and performance-based conditions.
Schedule of Stock-based Compensation Expense | The Company recognized stock-based compensation under the Plans and ESPP as follows:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(in millions) |  | 2023 |  | 2022 |  | 2023 |  | 2022
Research and development |  | $ | 2.9 |  |  | $ | 2.8 |  |  | $ | 8.4 |  |  | $ | 9.0 |
Sales and marketing |  | 3.5 |  |  | 3.4 |  |  | 10.7 |  |  | 9.1 |
General and administrative |  | 3.0 |  |  | 2.9 |  |  | 10.2 |  |  | 7.2 |
Total stock-based compensation |  | $ | 9.4 |  |  | $ | 9.1 |  |  | $ | 29.3 |  |  | $ | 25.3 |

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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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