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Stock-Based Compensation | 3 Months Ended
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Mar. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Stock-Based Compensation | 11. Stock-Based Compensation Stock Options The following summarizes the stock option activity for the three months ended March 31, 2024:
| Number of options outstanding |  | Weighted- average exercise price (Per share) |  | Weighted- average remaining contract life (In years) |  | Aggregate intrinsic value (In thousands)
Outstanding as of December 31, 2023 | 97,480 |  |  | $ | 12.75 |  |  | 2.97 |  | $ | 332 |
Granted | — |  |  | — |  |  |  |  |
Exercised | (10,849) |  |  | 9.49 |  |  |  |  |
Forfeited or expired | — |  |  | — |  |  |  |  |
Outstanding as of March 31, 2024 | 86,631 |  |  | $ | 13.16 |  |  | 2.84 |  | $ | 494 |
Options vested and exercisable at March 31, 2024 | 86,631 |  |  | $ | 13.16 |  |  | 2.84 |  | $ | 494 |
Options vested and expected to vest as of March 31, 2024 | 86,631 |  |  | $ | 13.16 |  |  | 2.84 |  | $ | 494 |
As of March 31, 2024, the Company had no unrecognized compensation cost related to non-vested stock options. All outstanding stock options were fully vested prior to December 31, 2022. Restricted Stock Units The following summarizes the restricted stock unit (“RSU”) activity for the three months ended March 31, 2024:
| Number of awards outstanding |  | Weighted-average grant date fair value (Per share)
Nonvested RSUs as of December 31, 2023 | 5,066,159 |  |  | $ | 18.41 |
Granted | 633,512 |  |  | 20.69 |
Vested | (920,435) |  |  | 28.55 |
Forfeited | (54,133) |  |  | 17.70 |
Nonvested RSUs as of March 31, 2024 | 4,725,103 |  |  | $ | 16.74 |
As of March 31, 2024, total unrecognized compensation cost related to non-vested RSUs was $70.0 million, which will be amortized over a weighted-average period of 2.14 years. Stock-Based Compensation Expense The Company recognized total stock-based compensation expense as follows:
|  |  | Three months ended March 31,
|  |  |  |  | 2024 |  | 2023 |  |
|  |  |  |  | (In thousands)
Cost of revenue |  |  |  |  | $ | 396 |  |  | $ | 192 |  |  |
Research and development |  |  |  |  | 5,316 |  |  | 3,141 |  |  |
Sales and marketing |  |  |  |  | 2,166 |  |  | 1,237 |  |  |
General and administrative |  |  |  |  | 4,461 |  |  | 2,808 |  |  |
Total |  |  |  |  | $ | 12,339 |  |  | $ | 7,378 |  |  |

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