v3.22.4

Stockholders’ Equity and Equity Incentive Plans (Tables)

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award

The following table summarizes stock option activity and related information under the Company’s equity incentive plans:

			Options Outstanding
			Number of Shares Underlying Outstanding Options						Weighted-Average Exercise Price						Weighted Average Remaining Contractual Term (Years)						Aggregate Intrinsic Value (in thousands)
Outstanding — December 31, 2021			6,542,351						$	6.08					6.95						$	184,727
Options granted			450,153						26.05
Options exercised			(358,418)						3.33
Options canceled			(148,070)						15.07
Options expired			(9,777)						34.40
Outstanding — December 31, 2022			6,476,239						$	7.38					6.10						$	55,516
Vested and exercisable — December 31, 2022			5,089,579						$	4.93					5.58						$	48,635

The following table summarizes RSU activity and related information under the Company’s 2020 Plan:

			RSUs
			Number of Shares						Weighted-Average Grant Date Fair Value per Share						Aggregate Intrinsic Value (in thousands)
Unvested — December 31, 2021			483,302						$	35.23					$	17,025
Granted			1,587,930						25.01						—
Vested			(308,433)						30.76						—
Canceled/Forfeited			(180,817)						29.51						—
Unvested — December 31, 2022			1,581,982						$	26.49					$	20,264

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The fair value of stock options granted under the Company’s equity incentive plans was estimated using the following assumptions:

			Year Ended December 31,
			2022						2021						2020
Fair market value of common stock			$18.63-$31.79						$39.75-$54.07						$3.20-$17.00
Expected term (in years)			5.0-7.0						5.8-6.7						5.7-6.4
Risk-free interest rate			1.8%-3.4%						0.6%-1.0%						0.3%-1.5%
Expected volatility			54%-57%						51%-54%						50%-55%
Dividend rate			—%						—%						—%
Weighted-average grant date fair value of options granted			$13.70						$20.30						$4.96

The fair value of purchase right granted the under the Company’s 2020 Employee Stock Purchase Plan was estimated using the following assumptions:

			Year Ended December 31,
			2022						2021
Expected term (in years)			0.5-1.0						0.4-1.4
Risk-free interest rate			1.6%-2.2%						0.1%
Expected volatility			83%-79%						60%-76%
Dividend rate			—%						—%

Share-based Payment Arrangement, Expensed and Capitalized, Amount

			Year Ended December 31,
			2022						2021						2020
Cost of revenue			$	1,135					$	825					$	86
Technology and development			3,225						2,232						599
Sales and marketing			7,645						5,176						1,101
General and administrative			8,641						5,874						1,777
Total stock-based compensation expense			20,646						14,107						3,563
Tax benefit from stock-based compensation			(3,537)						(1,825)						(493)
Total stock-based compensation expense, net of tax effect			$	17,109					$	12,282					$	3,070

X

- Definition

Tabular disclosure of share-based payment arrangement.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5047-113901

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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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
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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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
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