Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2023

Share-based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

Stock option activity for the three months ended March 31, 2023 was as follows:

	Number of Options Outstanding	Weighted-Average Exercise Price		Weighted-Average Remaining Life in Years	Aggregate Intrinsic Value
Outstanding at January 1, 2023	10,153,916	$	7.23	6.16	$	185,188
Exercised	(814,602)	6.81
Forfeited or cancelled	(205,644)	11.37
Outstanding at March 31, 2023	9,133,670	7.18		5.54	292,231
Vested and exercisable at March 31, 2023	7,314,438	6.49		5.34	239,011
Vested and unvested expected to vest at March 31, 2023	8,842,139	$	7.02	5.50	$	284,271

Schedule of RSU Activity

RSU activity for the three months ended March 31, 2023 was as follows:

	Shares	Weighted-Average Fair Value
Unvested balance at January 1, 2023	4,802,435	$	44.25
Granted	3,713,808	33.97
Vested	(352,763)	48.46
Forfeited or cancelled	(912,505)	46.69
Unvested balance at March 31, 2023	7,250,975	38.47
Vested and expected to vest at March 31, 2023	4,596,651	$	38.67

Schedule of PRSU Activity

PRSU activity for the three months ended March 31, 2023 was as follows:

	Shares	Weighted-Average Fair Value
Unvested balance at January 1, 2023	666,122	$	57.41
Granted	1,118,528	31.75
Vested	(21,947)	41.24
Forfeited or cancelled	(250,596)	34.25
Adjusted by performance factor	(436,387)	60.72
Unvested balance at March 31, 2023	1,075,720	$	35.08

Summary of Share-Based Payment Arrangement and Price Targets

The MRSU, which has a grant date fair value of $75,300 derived by using a discrete model based on multiple stock price-paths developed through the use of a Monte Carlo simulation, is divided into five tranches that will be earned based on the achievement of stock price goals, measured based on the average of the Company’s closing stock price over a consecutive ninety (90) trading day period during the performance period as set forth in the table below.

Tranche	Company Stock Price Target	Number of Eligible MRSUs
1	$93.50	475,000
2	$140.00	575,000
3	$187.00	650,000
4	$233.50	650,000
5	$280.50	650,000

Schedule of MRSU Activity

MRSU activity for the three months ended March 31, 2023 was as follows:

	Shares	Weighted-Average Fair Value
Unvested balance at January 1, 2023	3,000,000	$	25.12
Granted	—	—
Unvested balance at March 31, 2023	3,000,000	$	25.12

Summary of Stock-Based Compensation Expense

Stock-based compensation was included in the Condensed Consolidated Statements of Operations as follows:

	Three Months Ended March 31,
	2023		2022
Cost of revenue	$	392	$	432
Research and development	9,590		9,720
Sales and marketing	3,332		3,346
General and administrative	14,280		12,483
Restructuring and other charges	3,937		—
Total stock-based compensation	$	31,531	$	25,981
Excess income tax benefit related to stock-based compensation	$	1,580	$	9,418