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Stock-Based Compensation (Tables)

3 Months Ended

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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