Stock Compensation (Tables)

6 Months Ended

Jun. 30, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of Valuation Assumptions

The Company records compensation expense for stock options based on the estimated fair value of the options on the date of grant using the Black-Scholes option-pricing model with the assumptions set forth in the table below.

	Six Months Ended June 30, 2021
Expected term (years)	6.3
Expected stock price volatility	45.0		%
Risk-free interest rate	0.8		%
Dividend yield	—		%
Fair value of common stock	$	19.82

Summary of Common Stock Option Activity

The following table summarizes the common stock option activity for the six months ended June 30, 2022:

	Number of Shares	Weighted-Average Exercise Price		Weighted-Average Grant Date Fair Value		Weighted-Average Remaining Contractual Term (years)	Aggregate Intrinsic Value (in thousands)
Outstanding as of December 31, 2021	9,104,749	$	3.18	$	1.51	6.9
Granted	—	—		—
Exercised	(963,004)	2.32					18,106
Forfeited or expired	(101,131)	5.17
Outstanding as of June 30, 2022	8,040,614	$	3.25	$	1.56	6.8	$	99,439
Vested and exercisable as of June 30, 2022	5,866,254	$	2.74	$	1.31	6.5	$	75,538

Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity

The following table summarizes the RSU activity during the six months ended June 30, 2022:

	Shares	Weighted-Average Grant-Date Fair Value per Share
Outstanding as of December 31, 2021	2,433,681	$	20.80
Granted	793,784	$	19.40
Vested	(354,443)	$	17.88
Forfeited or expired	(84,191)	$	22.01
Outstanding as of June 30, 2022	2,788,831	$	20.73

Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions

The fair value of the ESPP purchase right is estimated on the grant date using the Black-Scholes option-pricing model with the following assumptions:

	Six Months Ended June 30, 2022		Six Months Ended June 30, 2021
Expected term (years)	0.5		0.5
Expected stock price volatility	71.0% - 81.9%		60.9	%
Risk-free interest rate	0.1% - 1.5%		0.4	%
Dividend yield	—	%	—	%

Schedule of Stock Compensation Expense

The following table summarizes the components of stock compensation expense recognized in the consolidated statements of operations (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Cost of revenues	$	179	$	76	$	345	$	129
Sales and marketing	1,421		5,662		2,575		6,551
Technology and development	1,328		148		2,581		288
General and administrative	4,053		12,983		7,107		13,560
Total stock compensation expense	$	6,981	$	18,869	$	12,608	$	20,528