Stockholders' Equity and Stock Based Compensation (Tables)

9 Months Ended

Sep. 30, 2021

Equity [Abstract]

Summary Of Common Shares Reserved For Future Issuance

Shares of common stock reserved for future issuance were as follows (shares in thousands):

	September 30, 2021	December 31, 2020
Redeemable convertible preferred stock	—	153,938
2011 Stock Plan:
Options and RSUs outstanding	60,319	36,024
Shares reserved for future award issuances	—	9,981
2021 Equity Incentive Plan:
Shares reserved for future award issuances	35,059	—
2021 Employee Stock Purchase Plan	6,500	—
Total shares of common stock reserved for issuance	101,878	199,943

Schedule of Stock Option Activity

Stock option activity during the nine months ended September 30, 2021 is as follows:

Share Information:	Number of Shares	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (1)
	(in thousands, except per share data)
Balance as of December 31, 2020	2,096	$	0.23	4.1	$	33,947
Stock options granted	—	$	—
Stock options exercised	(210)	$	0.22
Stock options cancelled / forfeited / expired	(203)	$	0.06
Balance as of September 30, 2021(2)	1,683	$	0.25	3.8	$	71,401

(1)Aggregate intrinsic value for stock options represents the difference between the exercise price and the per share fair value of the Company’s common stock as of the end of the period, multiplied by the number of stock options outstanding, exercisable, or vested.

(2)The ending balance as of September 30, 2021 represents options that were fully vested and exercisable.

Schedule of Restricted Stock Unit Activity

RSU activity during the nine months ended September 30, 2021 is as follows:

Share Information:	Number of Shares	Weighted-Average Grant Date Fair Value Per Share
	(in thousands, except per share data)
Unvested, as of December 31, 2020	33,928	$	5.41
Granted	26,376	$	24.43
Vested	—	$	—
Forfeited	(1,668)	$	10.35
Unvested, as of September 30, 2021	58,636	$	13.81

Stock-based Compensation Expense

Total stock-based compensation expense recorded for the three and nine months ended September 30, 2021 and 2020 was as follows (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Employee awards:
Cost of revenue	$	3,983	$	—	$	3,983	$	—
Research and development	36,823		—		36,823		8
Sales and marketing	40,465		—		40,465		7
General and administrative	42,988		—		42,988		29
Total employee awards	124,259		—		124,259		44
Secondary transaction	—		—		—		43,236
Stock-based compensation, net of amounts capitalized	124,259		—		124,259		43,280
Capitalized stock-based compensation	458		—		458		—
Total stock-based compensation expense	$	124,717	$	—	$	124,717	$	43,280