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Stockholders' Equity (Tables) | 9 Months Ended
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Sep. 30, 2022
Equity [Abstract] |
Schedule of Accumulated Other Comprehensive Income (Loss) | The following table shows the components of accumulated other comprehensive income (loss), net of income taxes, (“AOCI”) in the stockholders’ equity section of our condensed consolidated balance sheets at the dates indicated (in thousands):
|  | September 30, 2022 |  | December 31, 2021
Foreign currency translation adjustment |  | $ | (37,929) |  |  | $ | (5,657) |
Unrealized translation gain on intercompany loans with foreign subsidiaries |  | (11,658) |  |  | 2,552 |
Unrealized gain (loss) on interest rate swaps |  | 43,947 |  |  | (8,409) |
Total accumulated other comprehensive loss |  | $ | (5,640) |  |  | $ | (11,514) |
Schedule of Allocated Share-Based Compensation Expense | The Company recognizes stock-based compensation expense from all awards in the following expense categories included in our condensed consolidated statements of income were as follows (in thousands):
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2022 |  | 2021 |  | 2022 |  | 2021
Cost of revenue |  | $ | 510 |  |  | $ | 539 |  |  | $ | 1,487 |  |  | $ | 1,544 |
Research and development |  | 701 |  |  | 671 |  |  | 2,107 |  |  | 2,327 |
Sales and marketing |  | 612 |  |  | 1,636 |  |  | 3,584 |  |  | 4,392 |
General and administrative |  | 5,704 |  |  | 9,201 |  |  | 26,845 |  |  | 35,158 |
Total |  | $ | 7,527 |  |  | $ | 12,047 |  |  | $ | 34,023 |  |  | $ | 43,421 |
Schedule of PRSU Activity | The following table summarizes PRSU and RSU activity during the nine months ended September 30, 2022 :
|  | Number of Units |  | Weighted-Average Grant Date Fair Value
Unvested restricted units outstanding as of December 31, 2021 |  | 1,443,284 |  |  | $ | 45.77 |
Granted |  | 1,457,763 |  |  | 22.15 |
Vested |  | (720,221) |  |  | 40.49 |
Forfeited(1) |  | (644,190) |  |  | 35.28 |
Unvested restricted units outstanding as of September 30, 2022 |  | 1,536,636 |  |  | $ | 30.25 |
(1) Includes forfeited awards related to the 2021 PRSUs. At June 30, 2022, or the end of the performance period for the 2021 PRSUs, none of the awards vested.
Schedule of RSU activity | The following table summarizes PRSU and RSU activity during the nine months ended September 30, 2022 :
|  | Number of Units |  | Weighted-Average Grant Date Fair Value
Unvested restricted units outstanding as of December 31, 2021 |  | 1,443,284 |  |  | $ | 45.77 |
Granted |  | 1,457,763 |  |  | 22.15 |
Vested |  | (720,221) |  |  | 40.49 |
Forfeited(1) |  | (644,190) |  |  | 35.28 |
Unvested restricted units outstanding as of September 30, 2022 |  | 1,536,636 |  |  | $ | 30.25 |
(1) Includes forfeited awards related to the 2021 PRSUs. At June 30, 2022, or the end of the performance period for the 2021 PRSUs, none of the awards vested.
Schedule of Valuation Assumptions | Significant assumptions used in the Monte Carlo simulation model for the PRSUs granted during the nine months ended September 30, 2022 and year ended December 31, 2021 are as follows:
|  | September 30, 2022 |  | December 31, 2021
Expected volatility |  | 49.5% |  | 53.6%
Risk-free interest rate |  | 0.7% |  | 0.1%
Remaining performance period (in years) |  | 1.46 |  | 1.35
Dividend yield |  | — |  | —
Schedule of Stock Option Activity | Stock option activity during the nine months ended September 30, 2022 was as follows:
|  | Number of Options Outstanding |  | Weighted– Average Exercise Price
Outstanding at December 31, 2021 |  | 227,605 |  |  | $ | 9.15 |
Options exercised |  | (43,460) |  |  | 4.38 |
Options forfeited |  | (28,226) |  |  | 5.81 |
Options expired |  | (24) |  |  | 1.81 |
Outstanding at September 30, 2022 |  | 155,895 |  |  | $ | 11.09 |

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