Common Stock and Stockholders' Equity (Tables)

9 Months Ended

Sep. 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	1,407,809	$	34.33	N/A
Stock options exercised	(552,400)	$	10.22	N/A	$	(23,208)
Stock options forfeited	(69,761)	$	57.38	N/A
Balance at September 30, 2022	4,212,626	$	27.81	6.25	$	23,805
Vested or expected to vest at September 30, 2022	4,212,626	$	27.81	6.25	$	23,805
Exercisable at September 30, 2022	2,770,160	$	22.06	4.50	$	23,805

Assumptions used for estimate of fair value of options

	Nine Months Ended September 30,
	2022		2021
Volatility		56.69% - 67.95%		56.52% - 58.14%
Expected term (in years)		4.1		4.1
Risk-free interest rate		1.13% - 3.46%		0.31% - 0.70%
Dividend yield		0		0
Weighted-average fair value of underlying stock options	$	$17.72	$	$72.46

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	5,649,470	$	51.94
Vested and issued	(826,297)	$	155.01
Forfeited	(814,313)	$	112.22
Balance at September 30, 2022	6,142,361	$	70.72
Vested and unissued at September 30, 2022	23,878	$	92.15
Non-vested at September 30, 2022	6,118,483	$	70.77

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	(27,530)	$	90.44
Balance at September 30, 2022	601,312	$	103.44
Vested and unissued at September 30, 2022	0	$	0.00
Non-vested at September 30, 2022	601,312	$	103.44

Components of operating expense charged for compensation cost expense

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

	Quarter Ended				Nine Months Ended
	September 30,				September 30,
	2022		2021		2022		2021
Cost of revenue (exclusive of depreciation and amortization, which is shown separately)	$	675	$	2,162	$	4,994	$	6,310
Advertising and marketing		3,614		5,244		10,523		15,141
Sales		11,064		17,518		33,845		57,638
Technology and development		17,660		22,910		51,532		77,335
General and administrative		22,649		23,867		66,204		84,547
Total stock-based compensation expense (1)	$	55,662	$	71,701	$	167,098	$	240,971

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