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Stock-Based Compensation (Tables) | 3 Months Ended
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Mar. 31, 2021
Share-based Payment Arrangement [Abstract] |
Schedule of stock-based compensation expense | The following two tables summarize our total stock-based compensation expense by award type and where the stock-based compensation expense was recorded in our consolidated statements of operations (in thousands):
| Three Months Ended March 31,
| 2021 |  | 2020
| (unaudited)
Options | $ | 1,394 |  |  | $ | 2,542 |
Restricted stock units | 8,002 |  |  | 5,117 |
Performance-based restricted stock units | 1,329 |  |  | — |
Employee stock purchase plan | 417 |  |  | 492 |
Restricted shares | 2,368 |  |  | 590 |
Total stock-based compensation | $ | 13,510 |  |  | $ | 8,741 |
| Three Months Ended March 31,
| 2021 |  | 2020
| (unaudited)
Cost of revenue | $ | 1,809 |  |  | $ | 992 |
Sales and marketing | 4,818 |  |  | 3,182 |
Research and development | 2,257 |  |  | 1,882 |
General and administrative | 4,626 |  |  | 2,685 |
Total stock-based compensation | $ | 13,510 |  |  | $ | 8,741 |
Schedule of information related to stock options | A summary of the share option activity under the 2019 Plan for the three months ended March 31, 2021, is as follows:
| Time-Based Option Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Life in Years |  | Aggregate Intrinsic Value
| (unaudited)
Outstanding at January 1, 2021 | 3,892,936 |  |  | $ | 11.58 |  |  |  |  |
Options exercised | (537,889) |  |  | 12.05 |  |  |  |  |
Options cancelled/forfeited | (11,000) |  |  | 11.50 |  |  |  |  |
Outstanding at March 31, 2021 | 3,344,047 |  |  | $ | 11.50 |  |  | 6.8 |  | $ | 117,946,252 |
Vested and expected to vest as of March 31, 2021 | 3,344,047 |  |  | $ | 11.50 |  |  | 6.8 |  | $ | 117,946,252 |
Vested and exercisable as of March 31, 2021 | 1,715,358 |  |  | $ | 10.49 |  |  | 6.0 |  | $ | 62,231,385 |
Schedule of outstanding RSUs and related activity | The following table sets forth the outstanding RSUs and related activity for the three months ended March 31, 2021:
| Restricted Stock Units |  | Weighted Average Grant Date Fair Value
| (unaudited)
Unvested and outstanding at January 1, 2021 | 1,839,998 |  |  | $ | 34.17 |
RSUs granted | 1,329,687 |  |  | 49.77 |
RSUs vested | 186,329 |  |  | 33.70 |
RSUs forfeited | (45,666) |  |  | 35.50 |
Unvested and outstanding at March 31, 2021 | 2,937,690 |  |  | $ | 41.24 |
The following table sets forth the outstanding PRSUs, including executive PRSUs, and related activity for the three months ended March 31, 2021:
| Performance-based Restricted Stock Units |  | Weighted Average Grant Date Fair Value
| (unaudited)
Unvested and outstanding at January 1, 2021 | — |  |  | $ | — |
PRSUs granted | 313,322 |  |  | 49.77 |
PRSUs forfeited | (5,463) |  |  | 49.77 |
Unvested and outstanding at March 31, 2021 | 307,859 |  |  | $ | 49.77 |
Schedule of the purchase right for the ESPP option assumptions | The fair value of the purchase right for the ESPP option component is estimated on the date of grant using the Black-Scholes model with the following assumptions for the three months ended March 31, 2021 and 2020:
| Three Months Ended March 31,
| 2021 |  | 2020
| (unaudited)
Expected volatility | 40.4% |  | 54.9%
Expected term (in months) | 6 |  | 6
Risk-free interest rate | 0.1% |  | 1.6%
Expected dividends | — |  | —

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- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + 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 (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of employee stock purchase plans, including, but not limited to: (a) expected term, (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 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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