Stock-based Compensation (Tables)

3 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Abstract]

Employee stock-based compensation

The following table shows a summary of the stock-based compensation expense included in the condensed consolidated statements of operations for the three months ended March 31, 2020 and 2019:

	Three Months Ended
	March 31,
	2020		2019
	(in thousands)
Cost of revenues	$	614	$	545
Research and development	3,437		2,340
Sales and marketing	1,560		1,068
General and administrative	4,386		4,492
Total stock-based compensation	$	9,997	$	8,445

Stock option activity

A summary of the Company’s stock option activity is as follows:

	Outstanding Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value
						(in thousands)
Balance as of December 31, 2019	2,866,675		$	40.54	6.0	$	125,647
Granted	82,300		$	88.57
Exercised	(144,989	)	$	32.51
Canceled	(19,235	)	$	80.57
Balance as of March 31, 2020	2,784,751		$	42.11	6.2	$	126,495
Vested and expected to vest - March 31, 2020	2,620,436		$	39.53	6.0	$	125,595
Exercisable - March 31, 2020	2,073,385		$	29.22	5.3	$	120,221

Restricted stock units activity

A summary of the Company’s RSU activity is as follows:

	Outstanding RSUs		Weighted Average Grant Date Fair Value Per Share
Balance as of December 31, 2019	1,214,818		$	67.99
Granted	64,397		$	87.34
Vested	(138,260	)	$	59.51
Canceled	(23,348	)	$	69.61
Balance as of March 31, 2020	1,117,607		$	70.12
Outstanding and expected to vest - March 31, 2020	826,637		$	68.49