Stock-Based Compensation and Employee Benefit Plan (Tables)
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6 Months Ended |
Jun. 30, 2020 |
Compensation Related Costs [Abstract] |
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Weighted-Average Valuation Assumptions |
We used the following weighted-average assumptions in applying the Black-Scholes valuation model for determination of options: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | | | Six Months Ended June 30, | | | | | | | 2020 | | 2019 | | 2020 | | 2019 | | | | | | | | | | | | | | Risk-free interest rate | | 0.6% | | 2.4%- 2.5% | | 0.6% | | 2.4% - 2.6% | | | Expected term (years) | | 6.6 | | 6.4 - 6.7 | | 6.6 | | 6.4 - 6.7 | | | Expected dividend yield | | — | | — | | — | | — | | | Expected volatility | | 71.0% | | 47.5% | | 71.0% | | 47.5% - 50.2% | | |
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Employee and Non-Employee Stock-Based Compensation Expense |
The following table summarizes the components of stock-based compensation expense in the condensed consolidated statements of operations (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | | | Six Months Ended June 30, | | | | | | | 2020 | | 2019 | | 2020 | | 2019 | | | | | | | As Restated | | | | As Restated | | | | | | | | | | | | | | Cost of revenue | | $ | 4,736 | | | $ | 10,538 | | | $ | 10,243 | | | $ | 28,850 | | | | Research and development | | 4,714 | | | 12,218 | | | 10,810 | | | 26,448 | | | | Sales and marketing | | 2,234 | | | 8,935 | | | 6,124 | | | 20,447 | | | | General and administrative | | 6,947 | | | 19,673 | | | 14,473 | | | 43,441 | | | | | | $ | 18,631 | | | $ | 51,364 | | | $ | 41,650 | | | $ | 119,186 | | | |
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Stock Option and RSU Activity |
The following table summarizes the stock option activity under our stock plans during the reporting period: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Outstanding Options | | | | | | | | | Number of Shares | | Weighted Average Exercise Price | | Remaining Contractual Life (Years) | | Aggregate Intrinsic Value | | | | | | | | | | | | | | | | | | (in thousands) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2019 | | 17,837,316 | | | $ | 20.76 | | | 6.94 | | $ | 14,964 | | Granted | | 200,000 | | | 7.30 | | | | | | Exercised | | (170,873) | | | 5.90 | | | | | | Cancelled | | (694,838) | | | 22.46 | | | | | | Balances at June 30, 2020 | | 17,171,605 | | | 20.69 | | | 6.46 | | 26,824 | | Vested and expected to vest at Current period end | | 16,555,245 | | | 21.08 | | | 6.37 | | 24,325 | | Exercisable at Current period end | | 9,515,698 | | | 28.48 | | | 4.67 | | 384 | |
The following table presents the stock activity and the total number of RSUs available for grant under our stock plans as of June 30, 2020: | | | | | | | | | | | Plan Shares Available for Grant | | | | | | | | | | | | | | | | | | | | | | Balances at December 31, 2019 | | 17,233,144 | | Added to plan | | 6,654,552 | | Granted | | (1,414,942) | | | | | Cancelled | | 992,262 | | Expired | | (675,276) | | Balances at June 30, 2020 | | 22,789,740 | |
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RSU Activity and Related Information |
A summary of our RSUs activity and related information is as follows: | | | | | | | | | | | | | | | | | Number of Awards Outstanding | | Weighted Average Grant Date Fair Value | | | | | | | | | | | | | | | | | | | | | | | | | | Unvested Balance at December 31, 2019 | | 10,112,266 | | | $ | 17.29 | | Granted | | 1,214,942 | | | 8.75 | | Vested | | (3,320,153) | | | 19.06 | | Forfeited | | (298,951) | | | 15.50 | | Balances at June 30, 2020 | | 7,708,104 | | | 15.26 | |
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