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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Summary of Activity under Stock Option Plans
The following table summarizes activity under the Company’s stock option plans:
Number of Shares
Underlying
Outstanding Options		Weighted-Average
Exercise Price		Weighted-Average
Remaining Contractual
Term (Years)		Aggregate
Intrinsic Value
(in thousands)
Balances at December 31, 20204,858,590 $3.83 5.80$149,046 
Granted1,500,000 38.80 
Exercised(2,035,709)3.53 
Forfeited and canceled(58,813)4.42 
Balances at December 31, 20214,264,068 16.29 6.3776,025 
Vested and exercisable as of December 31, 20212,542,329 4.02 4.8076,626 
Vested and expected to vest as of December 31, 20214,264,068 16.29 6.3776,025 
The 90-day volume weighted-average common stock price targets, and the number of shares of the CEO Award that become vested with respect to the Market Condition upon the achievement of each such target, are reflected in the following table:
Stock PriceNumber of Shares Vested
$60100,000
$70200,000
$80300,000
$90400,000
$100500,000
Summary of Fair Value Assumptions on Stock Options Granted The expected volatility is derived from the average historical stock volatility of the Company over a period equivalent to the expected term of the CEO Award. The following assumptions were used to estimate the fair value of the CEO Award:
Dividend yield— %
Risk-free interest rates1.7 %
Expected volatility65 %
Summary of Fair Value Assumptions on Employee Stock Purchas Plans
The fair values of the awards modified by the Transition Agreement were estimated using the Black-Scholes valuation model with the following assumptions:
Dividend yield— %
Expected term (in years)
0.3 - 1.3
Risk-free interest rates
1.5% - 1.6%
Expected volatility
38% - 39%
For the years ended December 31, 2021, 2020, and 2019, the assumptions used to determine the fair value of the shares to be awarded was estimated on the grant date using the Black-Scholes valuation model with the following assumptions:
202120202019
Dividend yield— %— %— %
Expected term (in years)
0.5 - 2.0
0.5 - 2.0
0.5 - 2.0
Risk-free interest rates
—% - 0.5%
0.1% - 0.2%
1.5% - 2.4%
Expected volatility
60% - 76%
50% - 82%
38%
Summary of Activity under RSU Plans
The following table summarizes the RSU and PSU activity and related information under the 2018 EIP:
Number
Outstanding		Weighted-Average
Grant Date Fair Value
Unvested balance - January 1, 20215,568,225 $12.20 
Granted2,075,311 51.53 
Vested(1,865,444)16.37 
Forfeited/canceled(1,194,269)16.42 
Unvested balance - December 31, 20214,583,823 $26.86 
Summary of Components of Stock-Based Compensation Expense Recognized
The following table summarizes the components of stock-based compensation expense recognized in the consolidated statements of operations for the years ended December 31, 2021, 2020, and 2019:
(In thousands)202120202019
Cost of revenue$794 $779 $456 
Research and development16,232 9,783 6,471 
Sales and marketing5,923 4,440 2,609 
General and administrative30,643 10,506 9,262 
Total$53,592 $25,508 $18,798