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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2023
Share-Based Payment Arrangement [Abstract] |
Disclosure of Share-Based Compensation Arrangements by Share-Based Payment Award | RSU activity for the year ended December 31, 2023 was as follows:
| Shares |  | Weighted-average grant date fair value per share
Unvested balance as of December 31, 2022 | 3,716,061 |  | $ | 6.60 |
Granted | 4,576,424 |  | $ | 5.06 |
Vested | (2,614,981) |  | $ | 6.06 |
Forfeited | (420,671) |  | $ | 5.38 |
Unvested balance as of December 31, 2023 | 5,256,833 |  | $ | 5.63 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | The following table summarizes the Black-Scholes option pricing model weighted-average assumptions used in estimating the fair value of stock options granted to employees during the year ended December 31, 2022. No stock options were granted during the year ended December 31, 2023.
| For the Year Ended December 31,
| 2022 |  |
Expected term (in years) | 6 |  |
Expected volatility | 49.0 | % |  |
Risk-free interest rate | 1.20 | % |  |
Expected dividend yield | — | % |  |
The following table summarizes the Black-Scholes option pricing model weighted-average assumptions used in estimating the fair value of the stock purchase rights granted to employees under the ESPP for the years ended December 31, 2023 and 2022:
| For the Years Ended December 31,
| 2023 |  | 2022
Expected term (in years) | 0.5 - 2.0 |  | 0.5 - 2.0
Expected volatility | 46% - 64% |  | 45% - 68%
Risk-free interest rate | 4.29% - 5.43% |  | 0.10% - 4.75%
Expected dividend yield | — | % |  | — | %
Share-based Payment Arrangement, Option, Activity | A summary of equity award activity under the Company’s equity plans and related information is as follows (in thousands, except share, price and year data):
| Shares available for grant |  | Outstanding Equity Awards |  | Weighted- average exercise Price |  | Weighted- average remaining contractual life (years) |  | Aggregate intrinsic value
Balance as of December 31, 2022 | 1,836,566 |  |  | 12,371,281 |  |  | $ | 5.74 |  |  | 6.07 |  | $ | 32,385 |
Shares authorized | 9,102,074 |  |  |  |  |  |  |  |  |
Options granted | — |  |  | — |  |  | — |  |  |  |  |
Options exercised | — |  |  | (2,446,846) |  |  | 1.89 |  |  |  |  |
Options cancelled | 617,293 |  |  | (617,293) |  |  | 10.87 |  |  |  |  |
RSU award activity | (4,155,753) |  |  | — |  |  |  |  |  |  |
Balance as of December 31, 2023 | 7,400,180 |  |  | 9,307,142 |  |  | $ | 6.41 |  |  | 5.57 |  | $ | 31,250 |
Vested and exercisable as of December 31, 2023 |  |  | 7,747,252 |  |  | $ | 5.24 |  |  | 5.17 |  | $ | 29,480 |
Stock-based Compensation Expense | Stock-based compensation expense included in the consolidated statements of operations was as follows (in thousands):
| For the Years Ended December 31,
| 2023 |  | 2022 |  |
Cost of revenue | $ | 1,986 |  |  | $ | 1,267 |  |  |
Research and development | 9,218 |  |  | 6,698 |  |  |
Sales and marketing | 8,801 |  |  | 5,360 |  |  |
General and administrative | 5,172 |  |  | 3,724 |  |  |
Total stock-based compensation expense | $ | 25,177 |  |  | $ | 17,049 |  |  |

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