Shareholders' Equity and Equity Incentive Plans (Tables)
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6 Months Ended |
Jun. 30, 2021 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
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Summary of stock option activity |
A summary of share option activity under the Company’s equity incentive plans and related information is as follows:
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Options Outstanding |
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Outstanding Share Options |
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Weighted-Average Exercise Price |
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Weighted-Average Remaining Contractual Life (Years) |
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Aggregate Intrinsic Value |
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(in thousands, except share, life and per share data) |
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Balance as of December 31, 2020 |
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13,075,489 |
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$ |
6.50 |
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|
6.8 |
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$ |
736,478 |
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Granted |
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30,000 |
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$ |
65.96 |
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Exercised |
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(1,826,006 |
) |
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$ |
1.97 |
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$ |
96,474 |
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Forfeited |
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(269,020 |
) |
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$ |
15.36 |
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Balance as of June 30, 2021 |
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11,010,463 |
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$ |
7.20 |
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|
6.5 |
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$ |
422,309 |
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Exercisable as of June 30, 2021 |
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5,287,820 |
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$ |
2.49 |
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|
5.0 |
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$ |
227,536 |
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Summary of restricted ordinary shares |
A summary of restricted share unit (“RSU”) activity and related information under the Company's equity incentive plan and a stand-alone RSU award to the Company's Chief Executive Officer in August 2020 is as follows:
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RSUs |
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Unvested RSUs |
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Weighted-Average Grant Date Fair Value Per Share |
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Unvested as of December 31, 2020 |
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818,945 |
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$ |
48.38 |
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Granted |
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1,198,082 |
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$ |
54.40 |
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Canceled/forfeited |
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(122,800 |
) |
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$ |
65.07 |
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Unvested as of June 30, 2021 |
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1,894,227 |
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$ |
51.11 |
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Summary of ordinary shares reserved for future issuance |
The Company has the following ordinary shares reserved for future issuance:
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June 30, 2021 |
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Outstanding share options |
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11,010,463 |
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Outstanding RSUs |
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1,894,227 |
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Issuable ordinary shares related to business combinations |
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|
99,649 |
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Shares available for future issuance under the 2020 Plan |
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14,435,862 |
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Shares available for future issuance under ESPP |
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3,022,570 |
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Total ordinary shares reserved |
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30,462,771 |
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Summary of stock-based compensation expense |
The share-based compensation expense by line item in the accompanying condensed consolidated statements of operations is summarized as follows:
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2021 |
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2020 |
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2021 |
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2020 |
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(in thousands) |
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Cost of revenue: subscription–self-managed and SaaS |
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$ |
824 |
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$ |
199 |
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$ |
1,586 |
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$ |
339 |
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Research and development |
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2,680 |
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|
930 |
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|
4,509 |
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|
1,696 |
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Sales and marketing |
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3,522 |
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|
1,097 |
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|
6,245 |
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|
1,770 |
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General and administrative |
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|
7,078 |
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|
|
557 |
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|
13,514 |
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|
934 |
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Total share-based compensation expense |
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$ |
14,104 |
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$ |
2,783 |
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$ |
25,854 |
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$ |
4,739 |
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