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Stockholders' Equity (Tables)
12 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement [Abstract]  
Stock-Based Compensation Expense for Employees and Non-Employees
Total share-based compensation expense recorded for employees and non-employees, is as follows (in thousands):
 
Years Ended December 31,
 
2019
 
2018
 
2017
Cost of revenues
$
426

 
$
420

 
$
316

Research and development
22,229

 
17,055

 
14,333

Sales and marketing
7,380

 
6,703

 
5,007

General and administrative
34,874

 
27,852

 
18,703

Total share-based compensation expense
$
64,909

 
$
52,030

 
$
38,359


Summary of Assumptions Used to Determine Fair Value of ESPP
The following table summarizes the key assumptions used to determine the fair value of rights granted under the 2013 ESPP:
 
Years Ended December 31,
 
2019
 
2018
 
2017
Expected term (years)
0.50

 
0.50

 
0.50

Expected volatility
40.51%-41.81%

 
42.07%-44.97%

 
38.15%-45.57%

Dividend yield
%
 
%
 
%
Risk-free interest rate
1.59%-2.43%

 
2.09%-2.50%

 
1.04%-1.42%

Weighted-average grant-date fair value per share
$
9.88

 
$
7.14

 
$
3.55


Summary of Stock Option Activity
Stock Option Activity
 
Options Outstanding
 
Number of
Options
Outstanding
 
Weighted-
Average
Exercise
Price per
Share
 
Weighted-Average Remaining Contractual Term in Years
 
Aggregate
Intrinsic
Value
Balance at December 31, 2018
4,776,481

 
$
9.40

 
4.25
 
$
90,848,450

Exercised
(3,165,096
)
 
9.79

 
 
 
 
Balance at December 31, 2019
1,611,385

 
$
8.64

 
3.60
 
$
47,171,160


Summary of Restricted Stock Unit Activity
RSU and PSU Activity
 
RSUs and PSUs Outstanding
 
Number of RSUs and PSUs
Outstanding
 
Weighted 
Average Grant Date 
Fair Value
Balance at December 31, 2018
10,804,808

 
$
11.87

Granted
2,910,400

 
37.56

Released
(5,628,938
)
 
10.15

Canceled
(1,176,740
)
 
12.20

Balance at December 31, 2019
6,909,530

 
$
24.04