Common Stock and Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2022

Common Stock and Stockholders'Equity

Summary of stock option activity under the Plan

Stock option activity under the Plans was as follows (in thousands, except share and per share amounts and years):

				Weighted-
		Weighted-		Average
	Number of	Average		Remaining	Aggregate
	Shares	Exercise		Contractual	Intrinsic
	Outstanding	Price		Life in Years	Value
Balance at December 31, 2021	3,426,978	$	22.88	5.32	$	242,569
Stock option grants	1,389,672	$	34.36	N/A
Stock options exercised	(427,361)	$	11.65	N/A	$	(19,557)
Stock options forfeited	(27,219)	$	52.13	N/A
Balance at June 30, 2022	4,362,070	$	27.47	6.43	$	44,902
Vested or expected to vest at June 30, 2022	4,362,070	$	27.47	6.43	$	44,902
Exercisable at June 30, 2022	2,893,202	$	21.30	4.70	$	44,110

Assumptions used for estimate of fair value of options

	Six Months Ended June 30,
	2022		2021
Volatility		56.69% - 65.57%		57.02% - 58.1%
Expected term (in years)		4.1		4.1
Risk-free interest rate		1.13% - 2.89%		0.31% - 0.65%
Dividend yield		0		0
Weighted-average fair value of underlying stock options	$	$17.72	$	$81.88

Schedule of activity under the RSUs

RSU activity under the Plans was as follows:

		Weighted-Average
		Grant Date
	RSUs	Fair Value Per RSU
Balance at December 31, 2021	2,133,501	$	168.43
Granted	5,106,274	$	53.79
Vested and issued	(647,554)	$	150.67
Forfeited	(467,136)	$	135.95
Balance at June 30, 2022	6,125,085	$	77.42
Vested and unissued at June 30, 2022	23,878	$	92.15
Non-vested at June 30, 2022	6,101,207	$	77.36

Schedule of activity under the PSUs

PSU activity under the Plans was as follows:

		Weighted-Average
		Grant Date
	Shares	Fair Value Per PSU
Balance at December 31, 2021	356,249	$	140.01
Granted	471,659	$	74.16
Vested and issued	(199,066)	$	109.37
Forfeited	(19,444)	$	97.20
Balance at June 30, 2022	609,398	$	103.06
Vested and unissued at June 30, 2022	0	$	0.00
Non-vested at June 30, 2022	609,398	$	103.06

Components of operating expense charged for compensation cost expense

Total compensation costs for stock-based awards were recorded as follows (in thousands):

	Quarter Ended				Six Months Ended
	June 30,				June 30,
	2022		2021		2022		2021
Cost of revenue (exclusive of depreciation and amortization, which is shown separately)	$	2,123	$	1,786	$	4,319	$	4,148
Advertising and marketing		3,198		4,815		6,909		9,897
Sales		10,709		18,953		22,781		40,120
Technology and development		15,785		27,699		33,872		54,425
General and administrative		19,185		29,717		43,555		60,680
Total stock-based compensation expense (1)	$	51,000	$	82,970	$	111,436	$	169,270

(1) Excludes the amount capitalized related to internal software development projects.