XML 48 R34.htm IDEA: XBRL DOCUMENT v3.24.0.1
Stock-based Compensation (Tables)
12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-based Awards The following table summarizes the stock options activity under the 2010 Plan and 2019 Plan during the periods presented:
Stock Options Outstanding
(in thousands, except year and per share data)
Shares Subject
to Options
Outstanding
Weighted-
Average
Exercise Price
per Option
Weighted-
Average
Remaining
Contractual
Terms (in years)
Aggregate
Intrinsic Value
Balances as of December 31, 202018,186 $3.92 7.0$1,310,650 
Options granted100 $137.17 
Options exercised(4,455)$4.83 $503,243 
Options canceled/forfeited/expired(228)$2.67 
Balances as of December 31, 202113,603 $12.47 6.0$1,726,440 
Options granted5,733 $97.71 
Options exercised(2,484)$4.08 $180,990 
Options canceled/forfeited/expired(966)$74.88 
Balances as of December 31, 202215,886 $34.21 6.3$451,782 
Options granted 1,290 $51.21 
Options exercised (2,989)$4.96 $171,225 
Options canceled/forfeited/expired (1,664)$62.62 
Balances as of December 31, 202312,523 $21.03 5.7$787,633 
Vested and expected to vest as of December 31, 202312,521 $21.03 5.7$787,469 
Exercisable as of December 31, 20237,534 $4.15 3.8$601,503 
Schedule of Assumptions Used to Determine the Fair Value of Stock Options Granted
The weighted-average assumptions used to determine the fair value of the Performance Options during the years ended December 31, 2023 and December 31, 2022 were as follows:
Year ended December 31,
20232022
Expected term (in years)10.009.83
Expected volatility63.7 %59.5 %
Risk-free interest rate3.9 %3.0 %
Dividend yield— — 
The weighted-average assumptions used to determine the fair value of the Assumed Area 1 Stock Options during the year ended December 31, 2022 were as follows:
Year ended December 31,
2022
Expected term (in years)2.3
Expected volatility66.7 %
Risk-free interest rate2.5 %
Dividend yield— 
The weighted-average assumptions used to determine the fair value of stock options granted during the year ended December 31, 2021, were as follows:
Year ended December 31,
2021
Expected term (in years)6.0
Expected volatility59.6% 
Risk-free interest rate1.3% 
Dividend yield— 
Schedule of Restricted Stock Units Activity
RSU activity under the 2019 Plan and the 2010 Plan for the year ended December 31, 2023 was as follows:
Restricted Stock and RSUs*
Weighted-Average
Grant
Date Fair Value
(in thousands, except per share data)
Unvested and outstanding as of December 31, 20208,650 $21.41 
Granted - RSUs2,203 $108.87 
Granted - Restricted stock48 $167.69 
Vested - RSUs(2,734)$21.17 
Vested - Restricted stock(9)$— 
Forfeited(681)$29.78 
Unvested as of December 31, 20217,456 $47.36 
Vested and not yet released— $— 
Outstanding as of December 31, 20217,456 $47.36 
Granted - RSUs6,367 $67.13 
Granted - Restricted stock52 $100.29 
Vested - RSUs(2,848)$38.49 
Vested - Restricted stock(668)$19.96 
Forfeited (779)$64.83 
Unvested as of December 31, 20229,580 $61.64 
Vested and not yet released— $— 
Outstanding as of December 31, 20229,580 $61.14 
Granted - RSUs6,428 $62.24 
Vested - RSUs(3,689)$56.75 
Forfeited - RSUs(1,161)$65.87 
Unvested as of December 31, 2023*
10,894 $65.93 
Vested and not yet released*
— $— 
Outstanding as of December 31, 2023*
10,894 $65.93 
*Restricted stock did not have a material impact on the Company’s consolidated financial statements for the fiscal years ended December 31, 2023 or 2022. Effective January 1, 2023, this table discloses RSU activity only.
Schedule of Fair Value Assumptions for Employee Stock Purchase Plan
The weighted-average assumptions used to determine the fair value of the ESPP during the periods presented were as follows:    
Year ended December 31,
202320222021
Expected term (in years)0.50.50.5
Risk-free interest rate5.2 %3.3 %0.1 %
Expected volatility68.9 %100.6 %58.9 %
Dividend yield— — — 
Schedule of Stock-based Compensation Expense
The following table sets forth the total stock-based compensation expense included in the Company’s consolidated statements of operations:
Year Ended December 31,
202320222021
(in thousands)
Cost of revenue$7,967 $6,251 $2,583 
Sales and marketing73,682 50,317 27,277 
Research and development132,417 103,276 44,196 
General and administrative59,923 42,933 16,081 
Total stock-based compensation expense$273,989 $202,777 $90,137