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Stockholders' equity (Tables)
 6 Months Ended
Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of Common Stock Reserved for Future Issuance The Company had the following common stock reserved for future issuance as of June 30, 2022, and December 31, 2021, respectively:
June 30,December 31,
20222021
Stock options to purchase common stock (1)
18,553,783 20,342,259 
Shares available for future issuance under:
2021 Equity Incentive Plan6,831,278 11,417,359 
2021 Employee Stock Purchase Plan2,273,246 2,800,000 
Total shares of common stock reserved27,658,307 34,559,618 
(1) Excludes 104,880 and 106,155 cash-settled stock appreciation rights (“SARs”) outstanding as of June 30, 2022, and December 31, 2021, respectively.
Summary of Option Activity
The following is a summary of activity for stock options under the Equity Incentive Plans (amounts in thousands, except share and per share amounts):

Options OutstandingWeighted Average Exercise PriceWeighted Average Remaining Contractual TermAggregate Intrinsic Value
Balance - December 31, 2021
19,942,259 $9.70 8.14$226,350 
Granted — — 
Exercised (846,284)4.30 
Canceled (942,192)13.80 
Balance - June 30, 2022
18,153,783 $9.74 7.45$67,812 
Vested & expected to vest as of June 30, 2022
18,153,783 $9.74 7.45$67,812 
Exercisable as of June 30, 2022
10,042,942 $6.00 6.90$50,941 
Summary of Stock Appreciation Rights
The following is a summary of activity for SARs under the Equity Incentive Plans (amounts in thousands, except share and per share amounts):
SARs OutstandingWeighted Average Exercise PriceWeighted Average Remaining Contractual TermAggregate Intrinsic Value
Balance - December 31, 2021
106,155 $8.45 8.25$1,267 
Granted — — 
Exercised (743)3.63 
Canceled (532)10.02 
Balance - June 30, 2022
104,880 $8.48 7.76$392 
Vested & expected to vest as of June 30, 2022
104,880 $8.48 7.76$392 
Exercisable as of June 30, 2022
63,358 $6.49 7.53$283 
Schedule of Restricted Stock Unit Activity
A summary of RSU activity under the 2021 Plan is as follows:
RSUs OutstandingWeighted Average Grant Date Fair Value
Unvested - December 31, 2021
2,545,051$27.64 
Granted6,033,535$12.79 
Released(85,226)$24.30 
Canceled(505,242)$19.15 
Unvested - June 30, 2022
7,988,118$17.00 
Summary of Performance-Based Options
The following table summarizes the activities of Performance-Based Awards under the Equity Incentive Plans (amounts in thousands, except share and per share amounts):

Performance-Based Awards OutstandingWeighted Average Exercise PriceWeighted Average Remaining Contractual TermAggregate Intrinsic Value
Balance - December 31, 2021
400,000 $10.12 8.60$3,768 
Granted — 
Exercised — 
Canceled — 
Balance - June 30, 2022
400,000 $10.12 8.11$358 
Vested & expected to vest as of June 30, 2022
400,000 $10.12 8.11$358 
Exercisable as of June 30, 2022
182,291 $10.81 8.30$52 
Schedule of Weighted Average Assumptions, Options
The following table summarizes the weighted-average assumptions used in the Black-Scholes option-pricing model to estimate the fair value of new employee stock purchase rights granted under the ESPP:

Three and Six Months Ended
June 30, 2022
Risk-free interest rate2.1%
Expected volatility64.2%
Expected life (in years)1.3
Expected dividend yield—%
Schedule of Stock-Based Compensation Expense Total stock-based compensation expense included in the condensed consolidated statements of operations was as follows (in thousands):
Three Months Ended June 30, Six Months Ended June 30,
2022202120222021
Cost of revenue$989 $237 $1,829 $537 
Sales and marketing5,007 1,712 9,144 3,636 
Research and development3,711 1,052 7,045 3,142 
General and administrative5,025 2,971 10,056 9,169 
Total stock-based compensation expense$14,732 $5,972 $28,074 $16,484