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Common Stock and Stockholders' Equity (Tables)
6 Months Ended
Jun. 30, 2020
Common Stock and Stockholders'Equity  
Summary of stock option activity under the Plan

Activity under the Plans is as follows (in thousands, except share and per share amounts and years):

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​

​

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​

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​

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​

​

    

Weighted-

    

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​

 

​

​

​

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Weighted-

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Average

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​

​

 

​

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Number of

​

Average

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Remaining

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Aggregate

 

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​

Shares

​

Exercise

​

Contractual

​

Intrinsic

 

​

​

Outstanding

​

Price

​

Life in Years

​

Value

 

Balance at December 31, 2019

​

5,206,981

​

$

24.47

 

7.03

​

$

308,538

​

Stock option grants

​

10,832

​

$

125.65

 

0

​

$

0

​

Stock options exercised

​

(1,598,963)

​

$

21.00

 

0

​

$

0

​

Stock options forfeited

​

(148,655)

​

$

32.82

 

0

​

$

0

​

Balance at June 30, 2020

​

3,470,195

​

$

25.97

 

6.62

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$

575,590

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Vested or expected to vest at June 30, 2020

​

3,470,194

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$

25.97

 

6.62

​

$

575,590

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Exercisable at June 30, 2020

​

2,439,319

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$

20.94

 

6.28

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$

414,445

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Assumptions used for estimate of fair value of options

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Six Months Ended June 30,

​

​

    

    

2020

     

2019

 

Volatility

 

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​

46.1% – 51.0%

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​

46.9% – 47.6%

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Expected life (in years)

 

​

​

4.3

​

​

5.2

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Risk-free interest rate

 

​

​

0.27% - 1.64%

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​

1.75% - 2.55%

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Dividend yield

 

​

​

0

​

​

0

​

Weighted-average fair value of underlying stock options

​

​

$

49.44

​

$

27.34

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Schedule of activity under the RSUs

Activity under the RSUs is as follows:

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​

​

​

​

​

​

​

​

​

Weighted-Average

​

​

​

​

Grant Date

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RSUs

    

Fair Value Per RSU

Balance at December 31, 2019

​

1,483,558

​

$

54.13

Granted

 

342,383

​

$

125.69

Vested and issued

​

(565,724)

​

$

52.11

Forfeited

​

(73,072)

​

$

52.17

Balance at June 30, 2020

 

1,187,145

​

$

58.82

Vested and unissued at June 30, 2020

​

13,755

​

$

50.90

Non-vested at June 30, 2020

​

1,173,390

​

$

58.91

Schedule of activity under the PSUs

Activity under the PSU is as follows:

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​

​

​

​

​

​

​

​

​

​

Weighted-Average

​

​

​

​

Grant Date

​

    

Shares

    

Fair Value Per Share

Balance at December 31, 2019

​

512,482

​

$

62.51

Granted

 

111,199

​

$

117.81

Vested and issued

​

(186,455)

​

$

62.02

Balance at June 30, 2020

 

437,226

​

$

76.78

Vested and unissued at June 30, 2020

​

0

​

$

0

Non-vested at June 30, 2020

​

437,226

​

$

76.78

Components of operating expense charged for compensation cost expense

Total compensation costs charged as an expense for stock-based awards, including stock options, RSUs, PSUs and ESPP, recognized in the components of operating expenses are as follows (in thousands):

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Quarter Ended

​

Six Months Ended 

​

 

​

​

June 30,

​

June 30,

​

​

​

    

2020

    

2019

    

2020

    

2019

    

 

Administrative and marketing

​

$

1,544

​

$

1,317

​

$

2,803

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$

2,138

​

​

Sales

​

 

3,271

​

 

2,528

​

 

6,190

​

 

4,658

​

​

Technology and development

​

 

2,559

​

 

2,141

​

 

4,663

​

 

4,039

​

​

General and administrative

​

 

14,554

​

 

11,382

​

 

26,587

​

 

20,056

​

​

Total stock-based compensation expense

​

$

21,928

​

$

17,368

​

$

40,243

​

$

30,891

​

​