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Stockholders’ Equity (Deficit) and Equity Incentive Plan - (Tables)
6 Months Ended
Jun. 30, 2022
Equity [Abstract]  
Common Stock Reserved for Future Issuance
As of June 30, 2022, the Company had the following shares of common stock reserved for future issuance under its equity incentive plan and employee share purchase plan:
Stock options outstanding8,352,183 
Restricted stock units outstanding3,992,506 
Remaining shares available for future grant under 2021 Equity Incentive Plan(1)
6,734,418 
Remaining shares available for future issuance under ESPP(2)
1,613,045 
Total shares of common stock reserved as of June 30, 202220,692,152 
(1)Includes the automatic annual increase of 2,386,367 additional shares under 2021 Equity Incentive Plan on January 1, 2022.
(2)Includes the automatic annual increase of 477,273 additional shares under ESPP on January 1, 2021.
Summary of Stock Options
A summary of stock option activity under the Company’s equity incentive plans and related information is as follows:
Options Outstanding
Number
of
Shares
Weighted-
Average
Exercise
Price
Weighted-
Average
Remaining
Contractual Life
(in years)
Aggregate
Intrinsic Value
(in thousands)
Balance as of December 31, 2021
9,341,242 $6.83 
Granted— — 
Exercised(792,458)2.42 $9,641 
Cancelled and forfeited(196,601)15.05 
Balance as of June 30, 2022
8,352,183 $7.05 6.26$42,572 
Vested and exercisable5,821,156 $4.71 5.45$35,775 
Summary of RSU Activity Under Equity Incentive Plans and Related Information
A summary of RSU activity under the Company’s equity incentive plans and related information is as follows:
RSUs Outstanding
Number of
Shares
Weighted-Average
Grant Date
Fair Value
Unvested balance as of December 31, 2021
3,737,565 $20.01 
Granted1,045,932 13.76 
Vested(474,506)22.64 
Cancelled and forfeited(316,485)19.84 
Unvested balance as of June 30, 2022
3,992,506 $18.07 
Summary of Share-based Compensation Expense by line item in the Condensed Consolidated Statements of Operations
The stock-based compensation expense by line item in the accompanying condensed consolidated statements of operations is summarized as follows (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2022202120222021
Cost of revenue
Subscription and other platform$823 $346 $1,691 $583 
Professional services166 77 340 139 
Total cost of revenue989 423 2,031 722 
Sales and marketing3,697 1,571 7,389 3,263 
Research and development1,925 862 3,906 1,644 
General and administrative3,087 2,114 5,879 4,335 
Total stock-based compensation expense$9,698 $4,970 $19,205 $9,964 
Summary of Unrecognized Stock-Based Compensation Expenses
As of June 30, 2022, unrecognized stock-based compensation expense by award type and their weighted-average recognition periods are as follows (in thousands, except years):
Stock OptionRSUESPP
Unrecognized stock-based compensation expense$33,748 $66,015 $239 
Weighted-average amortization period2.40 years2.96 years0.38 years
Schedule of Repurchase Agreements The following table presents certain information regarding shares repurchased under the program during the periods presented:
Three Months Ended
June 30, 2022
Six Months Ended
June 30, 2022
Number of shares repurchased566,314 1,531,209 
Average price per share (including commissions)$13.27 $14.24 
Total repurchase costs (in millions)$7.5 $21.8