Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2020

Equity [Abstract]

Schedule of Reserved Shares of Common Stock for Issuance

As of March 31, 2020, the Company had reserved shares of common stock for issuance as follows (in thousands):

	As of
	March 31, 2020
Common stock awards granted under equity incentive plans		15,227
Common stock awards available for issuance under the 2017 Employee Stock Purchase Plan*		5,089
Common stock awards available for issuance under the 2017 Equity Incentive Plan		22,628
Total reserved shares of common stock		42,944

* The Company has not issued any common stock pursuant to the 2017 Employee Stock Purchase Plan.

Summary of Restricted Stock Unit Activity

Restricted stock unit activity for the three months ended March 31, 2020 is as follows (in thousands, except per share data):

	Number of Shares			Weighted Average Grant Date Fair Value Per Share
Balance, December 31, 2019 - outstanding		4,544		$	67.30
Awarded		403			133.14
Released		(266	)		64.02
Forfeited		(68	)		72.76
Balance, March 31, 2020 - outstanding		4,613		$	73.16

Schedule of Stock Option Activity

The following table summarizes the Company’s stock option activities under the 2008 Plan and 2017 Plan (in thousands, except per share data):

	Number of Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)		Weighted Average Grant Date Fair Value Per Share		Aggregate Intrinsic Value
Balance, December 31, 2019 - outstanding		11,124		$	14.84		6.2		—
Granted		3			125.84		—	$	42.17
Exercised		(493	)		5.57		—		—
Forfeited and expired		(20	)		5.05		—		—
Balance, March 31, 2020 - outstanding		10,614		$	15.32		6.0		—	$	773,435
Options exercisable at March 31, 2020		6,795		$	6.21		5.0		—	$	552,525

Summary of Stock-based Compensation Expense

The following table shows total stock-based compensation expense for the three months ended March 31, 2020 and 2019 (in thousands):

	Three Months Ended
	March 31, 2020		March 31, 2019
Cost of platform revenue	$	211	$	59
Cost of player revenue		338		243
Research and development		13,255		8,532
Sales and marketing		10,057		5,166
General and administrative		6,544		3,864
Total stock-based compensation	$	30,405	$	17,864

Summary of Assumptions Used to Value Stock-Based Awards Granted

The fair value of options granted under the equity incentive plans is estimated on the grant date using the Black-Scholes option-valuation model. The assumptions used in the Black-Scholes model are as follows:

	Three Months Ended
	March 31, 2020			March 31, 2019
Dividend rate		—			—
Expected term (in years)		5.0			5.0
Risk-free interest rate	0.88 - 1.67%			2.51 - 2.56%
Expected volatility		36	%		36	%