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Equity Incentive Plans (Tables)
12 Months Ended
Dec. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Changes in Shares Available for Grant

Changes in shares available for grant during the year ended December 31, 2021 were as follows:

 

 

 

Shares Available for Grant

 

Shares available for grant at December 31, 2020

 

 

18,617,001

 

2019 Equity Incentive Plan reserve increase effective January 1, 2021

 

 

6,882,344

 

Options and restricted stock units granted

 

 

(4,306,265

)

Options and restricted stock units forfeited, cancelled or expired

 

 

1,106,843

 

Shares available for grant at December 31, 2021

 

 

22,299,923

 

Summary of Stock Option Activity Under 2008 Plan 2009 Plan and 2019 Plan

Stock option activity under the 2009 Plan and 2019 Plan during the year ended December 31, 2021 was as follows:

 

 

 

Shares Subject to

Outstanding Options

 

 

Weighted-Average Exercise

Price per Share

 

 

Aggregate Intrinsic Value

(in thousands)

 

Options outstanding at December 31, 2020

 

 

14,433,560

 

 

$

12.82

 

 

 

 

 

Options granted

 

 

3,052,025

 

 

 

39.39

 

 

 

 

 

Options forfeited or cancelled

 

 

(992,428

)

 

 

25.90

 

 

 

 

 

Options expired

 

 

(40,116

)

 

 

26.56

 

 

 

 

 

Options exercised

 

 

(3,674,057

)

 

 

7.21

 

 

 

 

 

Options outstanding at December 31, 2021

 

 

12,778,984

 

 

$

19.72

 

 

$

156,105

 

Options vested and exercisable at December 31, 2021

 

7,281,600

 

 

$

10.99

 

 

$

132,537

 

Summary of Restricted Stock Unit Activity

Restricted stock unit activity under the 2019 Plan during the year ended December 31, 2021 was as follows:

 

 

 

Restricted Stock Units

Outstanding

 

 

Weighted-Average Grant Date

Fair Value per Share

 

Nonvested outstanding restricted stock units at December 31, 2020

 

 

50,000

 

 

$

28.10

 

Restricted stock units granted

 

 

1,254,240

 

 

 

37.98

 

Restricted stock units forfeited or cancelled

 

 

(74,299

)

 

 

43.20

 

Restricted stock units vested

 

 

(18,750

)

 

 

28.10

 

Nonvested outstanding restricted stock units at December 31, 2021

 

 

1,211,191

 

 

$

37.41

 

Summary of Estimated Grant Date Fair Values of Options Granted

The estimated grant date fair values of options granted during the years ended December 31, 2021, 2020 and 2019 were estimated using the Black-Scholes option-pricing model with the following assumptions:

 

 

 

Year Ended December 31,

 

 

 

2021

 

 

2020

 

 

2019

 

Fair value of common stock

 

$30.86 - $66.50

 

 

$17.68 - $55.23

 

 

$7.80 - $47.81

 

Expected term (in years)

 

5.27 - 6.08

 

 

5.27 - 6.08

 

 

5.27 - 6.08

 

Risk-free interest rate

 

0.5% - 1.4%

 

 

0.4% - 1.7%

 

 

1.4% - 2.5%

 

Expected volatility

 

67.1% - 70.0%

 

 

70.5% - 73.3%

 

 

64.3% - 72.9%

 

Expected dividend yield

 

 

 

 

 

 

 

 

 

Summary of Compensation Costs Related to Stock Options and RSUs Included on Statements of Operations The compensation costs related to stock options and restricted stock units for the years ended December 31, 2021, 2020 and 2019 are included on our consolidated statements of operations as follows (in thousands):

 

 

Year Ended December 31,

 

 

 

2021

 

 

2020

 

 

2019

 

Cost of revenue

 

$

2,100

 

 

$

817

 

 

$

555

 

Research and development

 

 

14,061

 

 

 

8,519

 

 

 

3,934

 

Sales and marketing

 

 

12,312

 

 

 

6,627

 

 

 

3,480

 

General and administrative

 

 

14,778

 

 

 

8,798

 

 

 

5,155

 

Total share-based compensation expense

 

$

43,251

 

 

$

24,761

 

 

$

13,124