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Stockholders' Equity and Stock Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2021
Equity [Abstract]  
Summary Of Common Shares Reserved For Future Issuance
Shares of common stock reserved for future issuance were as follows (in thousands):
December 31,
20212020
Redeemable convertible preferred stock— 153,938 
2011 Stock Plan:
Options and RSUs outstanding48,749 36,024 
Shares reserved for future award issuances— 9,981 
2021 Equity Incentive Plan:
RSUs outstanding429 — 
Shares reserved for future award issuances36,019 — 
2021 Employee Stock Purchase Plan6,500 — 
Total shares of common stock reserved for issuance91,697 199,943 
Summary of Valuation Assumptions The fair value of each of the four purchase periods is estimated separately. The following table summarizes the range of valuation assumptions used in estimating the fair value of the ESPP during the period:
Year Ended December 31,
Valuation Assumption Inputs2021
Expected term (in years)
0.6 - 2.1
Stock price volatility
47.7% - 58.5%
Risk-free interest rate
0.06% - 0.29%
Dividend yield0.00%
Schedule of Stock Option Activity
Stock option activity during the year ended December 31, 2021 is as follows (in thousands, except per share data):
Share Information:Number of SharesWeighted-Average Exercise PriceWeighted-Average Remaining Contractual Term (in years)
Aggregate Intrinsic Value (1)
Balance as of December 31, 20202,096 $0.23 4.1$33,947 
Stock options granted— $— 
Stock options exercised(537)$0.18 
Stock options cancelled / forfeited / expired(211)$0.07 
Balance as of December 31, 20211,348 $0.27 3.6$35,020 
(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 December 31, 2021 represents options that were fully vested and exercisable.
Schedule of Restricted Stock Unit Activity
RSU activity during the year ended December 31, 2021 is as follows (in thousands, except per share data):
Share Information:Number of SharesWeighted-Average Grant Date Fair Value
Unvested, as of December 31, 202033,928 $5.41 
Granted26,808 $22.02 
Vested(9,928)$5.17 
Forfeited(2,978)$9.81 
Unvested, as of December 31, 202147,830 $14.47 
Summary of Valuation Assumptions, CEO Performance Award
The fair value of the CEO Performance Award was determined at grant date by using the Monte Carlo simulation model with the following valuation assumptions:
Year Ended December 31,
Valuation Assumption Inputs2021
Measurement period (in years)7.0
Stock price volatility60.0%
Risk-free interest rate1.12%
Dividend yield—%
Stock-based Compensation Expense
Total stock-based compensation expense recorded for the years ended December 31, 2021, 2020, and 2019 was as follows (in thousands):
Year Ended December 31,
202120202019
Equity awards:
Cost of revenue$5,604 $— $13 
Research and development45,162 8 151 
Sales and marketing53,169 7 104 
General and administrative69,508 29 5 
Total employee awards173,443 44 273 
Secondary transaction— 43,236 — 
Stock-based compensation, net of amounts capitalized173,443 43,280 273 
Capitalized stock-based compensation585 — — 
Total stock-based compensation expense$174,028 $43,280 $273 
Schedule of Unrecognized Expense As of December 31, 2021, unrecognized stock-based compensation expense related to unvested stock-based awards was as follows (amount in thousands):
December 31, 2021
Unrecognized Stock-Based CompensationWeighted-Average Period to Recognize Expense
(in years)
RSUs$574,916 3.6
ESPP19,928 1.2
Total unrecognized stock-based compensation expense$594,844