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Stockholders' Equity (Tables)
6 Months Ended
Jun. 30, 2020
Equity [Abstract]  
Schedule of Accumulated Other Comprehensive Income (Loss)
The following table shows the components of accumulated other comprehensive loss, net of income taxes, in the stockholders’ equity section of our condensed consolidated balance sheets at the dates indicated (in thousands):
June 30, 2020December 31, 2019
Foreign currency translation adjustment$(6,770) $(4,530) 
Unrealized translation gain (loss) on foreign currency denominated intercompany loans(6,298) 883  
Unrealized gain (loss) on interest rate swaps(32,632) 2,424  
Total accumulated other comprehensive loss$(45,700) $(1,223) 
Schedule of Allocated Share-Based Compensation Expense
The Company recognized stock-based compensation expense from all awards in the following expense categories (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2020201920202019
Cost of revenue$570  $353  $888  $513  
Research and development1,019  632  1,634  953  
Sales and marketing898  365  1,447  504  
General and administrative8,493  5,551  16,331  9,559  
Total$10,980  $6,901  $20,300  $11,529  
Restricted Stock Unit Activity Restricted stock unit activity during the six months ended June 30, 2020 was as follows:
Number of
Restricted Stock Units Outstanding
Weighted-Average Grant Date Fair Value
Unvested balances at December 31, 2019790,807  $39.55  
Units granted1,281,523  40.30  
Units vested(205,053) 40.55  
Awards forfeited(88,720) 42.09  
Unvested balances at June 30, 20201,778,557  $39.85  
Performance Based Restricted Stock Unit Activity
PRSU activity during the six months ended June 30, 2020 was as follows:
Number of
PRSUs Outstanding
Weighted-Average Grant Date Fair Value (1)
Unvested balances at December 31, 2019—  $—  
Units granted66,297  79.72  
Unvested balances at June 30, 202066,297  $79.72  
(1) Fair value is calculated based on the grant closing stock price of $41.48 as of February 24, 2020 multiplied by a fair value factor of 192.20% as determined using a Monte Carlo simulation.
Schedule Valuation Assumptions
Significant assumptions used in the Monte Carlo simulation model for the PRSUs granted during the six months ended June 30, 2020 are as follows:
June 30, 2020
Expected volatility45.1%
Risk-free interest rate1.3%
Remaining performance period (in years)1.35
Dividend yield
Restricted Stock Awards
Restricted Stock Awards
Restricted share activity during the six months ended June 30, 2020 was as follows:
Number of
Restricted Shares
Outstanding
Weighted-Average Grant Date Fair Value
Unvested balances at December 31, 2019371,217  $28.26  
Awards vested(149,590) 27.20  
Awards forfeited(24,004) 28.45  
Unvested balances at June 30, 2020197,623  $29.03  
Schedule of Stock Option Activity
Stock option activity during the six months ended June 30, 2020 was as follows:
Number of
Options
Outstanding
Weighted–
Average
Exercise
Price
Outstanding at December 31, 2019329,698  $8.57  
Options exercised(8,712) 6.13  
Options expired(146) 1.79  
Outstanding at June 30, 2020320,840  $8.64