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Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2024

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, 2023						4,112						$	10.84					6.3						$	18.7
Granted1						220						$	15.73
Exercised						(810)						$	6.46
Cancelled/forfeited						(77)						$	12.03
Balance as of September 30, 20241						3,445						$	12.16					6.3						$	6.8
Vested and exercisable as of September 30, 2024						2,619						$	11.93					5.8						$	5.6

______________

(1)Represents 0.2 million of target award stock options with both service-based and performance-based conditions.

Schedule of Weighted-Average Assumptions and Ranges of Fair Value of Common Stock

For the nine months ended September 30, 2024, the per-share fair value of each stock option granted was determined on the date of grant using the following weighted-average assumptions:

						Nine Months Ended September 30, 2024
Expected volatility						58.1		%
Expected term (in years)						5.9
Expected dividend yield						0		%
Risk-free interest rate						4.2		%

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, 20231						6,788						$	12.42
Granted2						2,112						$	14.65
Vested						(2,240)						$	12.67
Forfeited1						(1,504)						$	14.20
Nonvested as of September 30, 20242						5,156						$	12.71

______________

(1)Includes 0.2 million of target award RSUs with both service-based and performance-based conditions.

(2)Includes less than 0.1 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)						2024						2023						2024						2023
Research and development						$	3.7					$	2.9					$	9.4					$	8.4
Sales and marketing						2.3						3.5						7.6						10.7
General and administrative						4.2						3.0						12.2						10.2
Total stock-based compensation						$	10.2					$	9.4					$	29.2					$	29.3

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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-Publisher FASB
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Tabular disclosure of the changes in outstanding nonvested shares.

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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.

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