Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

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, 2021	4,264,068	$	16.29	6.37	$	76,025
Exercised	(412,171)	3.99
Forfeited and canceled	(250)	8.18
Balances at December 31, 2022	3,851,647	17.58		5.51	15,037
Vested and exercisable as of December 31, 2022	2,347,914	4.04		3.86	15,016
Vested and expected to vest as of December 31, 2022	3,851,647	17.58		5.51	15,037

Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Exercisable

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 Price	Number of Shares Vested
$60	100,000
$70	200,000
$80	300,000
$90	400,000
$100	500,000

Summary of Fair Value Assumptions on Stock Options Granted

The following assumptions were used to estimate the fair value of the CEO Award:

Dividend yield	—	%
Risk-free interest rates	1.7	%
Expected volatility	65	%

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, 2022	4,583,823	$	26.86
Granted	8,130,375	20.18
Vested	(2,553,300)	23.68
Forfeited/canceled	(2,246,913)	25.14
Unvested balance - December 31, 2022	7,913,985	$	21.73

Summary of Fair Value Assumptions on Employee Stock Purchas Plans

For the years ended December 31, 2022, 2021, and 2020, 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:

	2022		2021		2020
Dividend yield	—	%	—	%	—	%
Expected term (in years)	0.5 - 2.0		0.5 - 2.0		0.5 - 2.0
Risk-free interest rates	1.5% - 4.6%		—% - 0.5%		0.1% - 0.2%
Expected volatility	68% - 76%		60% - 76%		50% - 82%

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 and comprehensive loss for the years ended December 31, 2022, 2021, and 2020:

(In thousands)	2022		2021		2020
Cost of revenue	$	1,356	$	794	$	779
Research and development	26,881		16,232		9,783
Sales and marketing	11,511		5,923		4,440
General and administrative	35,753		30,643		10,506
Total	$	75,501	$	53,592	$	25,508