Stockholders’ Equity and Equity Incentive Plans (Tables)

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award

The following table summarizes stock option activity and related information under the Company’s equity incentive plans (shares and aggregate intrinsic value in thousands):

	Options Outstanding
	Number of Shares Underlying Outstanding Options	Weighted-Average Exercise Price		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
Outstanding — December 31, 2022	6,476	$	7.38	6.10	$	55,516
Options granted	1,375	15.33
Options exercised	(575)	2.69
Options canceled	(180)	16.09
Options expired	(17)	32.14
Outstanding — December 31, 2023	7,079	$	9.02	5.78	$	67,418
Vested and exercisable — December 31, 2023	5,594	$	6.65	5.05	$	64,803

The following table summarizes RSU activity and related information under the Company’s 2020 Plan:

	RSUs
	Number of Shares (in thousands)	Weighted-Average Grant Date Fair Value per Share		Aggregate Intrinsic Value (in thousands)
Unvested — December 31, 2022	1,582	$	26.49	$	20,264
Granted	2,573	15.98
Vested	(878)	22.10
Canceled/Forfeited	(343)	18.83
Unvested — December 31, 2023	2,934	$	19.49	$	47,859

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The fair value of stock options granted under the Company’s equity incentive plans was estimated using the following assumptions:

	Year Ended December 31,
	2023	2022	2021
Fair market value of common stock	$12.56-$16.94	$18.63-$31.79	$39.75-$54.07
Expected term (in years)	5.0-7.0	5.0-7.0	5.8-6.7
Risk-free interest rate	3.5%-4.0%	1.8%-3.4%	0.6%-1.0%
Expected volatility	55%-59%	54%-57%	51%-54%
Dividend rate	—%	—%	—%
Weighted-average grant date fair value of options granted	$8.58	$13.70	$20.30

The fair value of purchase right granted the under the Company’s 2020 Employee Stock Purchase Plan was estimated using the following assumptions:

	Year Ended December 31,
	2023	2022	2021
Expected term (in years)	0.5-1.0	0.5-1.0	0.4-1.4
Risk-free interest rate	5.4%-5.1%	1.6%-2.2%	0.1%
Expected volatility	48%-59%	83%-79%	60%-76%
Dividend rate	—%	—%	—%

Share-based Payment Arrangement, Expensed and Capitalized, Amount

	Year Ended December 31,
	2023		2022		2021
Cost of revenue	$	1,472	$	1,135	$	825
Technology and development	4,346		3,225		2,232
Sales and marketing	10,462		7,645		5,176
General and administrative	12,582		8,641		5,874
Total stock-based compensation expense	28,862		20,646		14,107
Tax benefit from stock-based compensation	(5,695)		(3,537)		(1,825)
Total stock-based compensation expense, net of tax effect	$	23,167	$	17,109	$	12,282