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Stockholders' Equity (Tables)
9 Months Ended
Sep. 30, 2021
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):
 Three Months Ended
September 30,
Nine Months Ended
September 30,
 2021202020212020
Cost of revenues$393 $262 $1,174 $644 
Research and development8,917 8,433 25,976 23,044 
Sales and marketing3,051 2,431 9,625 7,053 
General and administrative12,151 10,403 39,382 28,668 
Total share-based compensation expense$24,512 $21,529 $76,157 $59,409 
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions
The following table summarizes the key assumptions used to determine the fair value of the awards:

Expected term (years)3.00
Expected volatility49.04 %
Expected dividends— %
Risk-free interest rate0.27 %
Summary of Restricted Stock Unit Activity
Activity for RSUs and PSUs is as follows:
 RSUs and PSUs Outstanding
 Shares OutstandingWeighted Average Grant Date Fair Value
Balance at December 31, 20204,816,000 $37.82 
Granted2,216,327 86.60 
Released(2,391,951)33.81 
Forfeited(430,325)44.84 
Balance at September 30, 20214,210,051 $65.06