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Equity Incentive Plan (Tables)
3 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Stock option activity
The following summary of stock option activity for the periods presented is as follows (in thousands, except share and per share data):
Number of Shares
Underlying
Outstanding Options
Weighted
Average
Exercise Price
per Share
Weighted
Average
Remaining
Contractual Life
(in Years)
Aggregate
Intrinsic Value
Balance as of December 31, 20236,625,812 $6.57 4.7$59,957 
Options granted — — 
Options exercised(277,309)8.32 
Options canceled/forfeited (161,559)15.29 
Balance as of March 31, 20246,186,944 6.26 4.6119,570 
Exercisable as of March 31, 20245,327,732 $5.39 4.5$107,623 
Time-based restricted stock units (RSU) and PRSU activity
The following summary of restricted stock units (including PRSUs) activity for the periods presented is as follows:
Number of SharesWeighted
average grant
date fair value
Balance as of December 31, 20236,182,543 $12.67 
RSU granted685,698 17.64 
RSU vested and settled(1,313,564)22.99 
RSU canceled/forfeited(146,219)12.63 
Balance as of March 31, 20245,408,458 $13.35 
Stock-based compensation expense
Stock-based compensation expense was allocated as follows (in thousands):
Three Months Ended March 31,
20242023
Cost of revenue
Subscription costs$159 $125 
Hardware costs184 206 
Other costs11 
Total cost of revenue347 342 
Research and development5,325 4,786 
Sales and marketing632 926 
General and administrative1,957 2,901 
Total stock-based compensation expense$8,261 $8,955