Stock-based Compensation (Tables)

6 Months Ended

Jun. 30, 2020

Share-based Payment Arrangement [Abstract]

Employee stock-based compensation

The following table shows a summary of the stock-based compensation expense included in the condensed consolidated statements of operations for the three and six months ended June 30, 2020 and 2019:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2020		2019		2020		2019
	(in thousands)
Cost of revenues	$	583	$	552	$	1,197	$	1,097
Research and development	3,253		2,704		6,690		5,044
Sales and marketing	1,513		1,063		3,073		2,131
General and administrative	4,095		4,016		8,481		8,508
Total stock-based compensation	$	9,444	$	8,335	$	19,441	$	16,780

Stock option activity

A summary of the Company’s stock option activity is as follows:

	Outstanding Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value
					(in thousands)
Balance as of December 31, 2019	2,866,675	$	40.54	6.0	$	125,647
Granted	155,300	$	96.20
Exercised	(593,045)	$	34.45
Canceled	(26,083)	$	82.61
Balance as of June 30, 2020	2,402,847	$	45.19	5.9	$	141,415
Vested and expected to vest - June 30, 2020	2,246,671	$	42.27	5.8	$	138,778
Exercisable - June 30, 2020	1,704,504	$	29.13	4.9	$	127,656

Restricted stock units activity

A summary of the Company’s RSU activity is as follows:

	Outstanding RSUs	Weighted Average Grant Date Fair Value Per Share
Balance as of December 31, 2019	1,214,818	$	67.99
Granted	124,633	$	95.96
Vested	(284,603)	$	61.04
Canceled	(154,670)	$	71.00
Balance as of June 30, 2020	900,178	$	75.99
Outstanding and expected to vest - June 30, 2020	668,594	$	74.20