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Stock-based Compensation (Tables)

6 Months Ended

Jun. 30, 2022

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

The following table summarizes the stock option activity during the six months ended June 30, 2022:

				Weighted-
	Number of			Average
	Shares			Exercise Price
Outstanding at December 31, 2021		7,642,690		$	12.98
Exercised		(1,207,503	)		12.43
Canceled/Forfeited		(163,205	)		21.89
Outstanding at June 30, 2022		6,271,982			12.85
Exercisable at June 30, 2022		5,548,427		$	11.77

Summary of Activity in Connection with RSUs

The following table summarizes the RSU activity during the six months ended June 30, 2022:

				Weighted-
	Number of			Average Grant
	Shares			Date Fair Value
Outstanding at December 31, 2021		6,622,684		$	59.72
Granted		3,861,774			56.09
Vested		(1,259,064	)		49.77
Canceled/Forfeited		(810,535	)		57.61
Outstanding at June 30, 2022		8,414,859		$	59.75

Schedule of Estimate Fair Value on Date of Grant

We estimate the fair value of the ESPP purchase rights on the date of grant using the Black-Scholes option pricing model with the following assumptions during the six months ended June 30, 2022.

Risk-free interest rate		1.47% to 2.03%
Expected term (in years)		0.5 to 1.0
Estimated dividend yield		0.00%
Estimated weighted-average volatility		61.14% to 72.69%

Summary of Total Stock-based Compensation Cost from Stock Options, RSUs, ESPP, RSAs, and Sales of Stock

The Company recorded total stock-based compensation cost from stock options, RSUs, ESPP, RSAs, and sales of stock by employees in excess of fair value as follows (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Cost of revenue	$	2,046	$	4,918	$	3,504	$	6,079
Sales and marketing		12,572		42,855		22,868		46,107
Research and development		13,144		51,317		26,152		54,563
General and administrative		6,133		38,353		18,580		40,997
Total stock-based compensation expense	$	33,895	$	137,443	$	71,104	$	147,746
Stock-based compensation capitalized for software development		1,895		837		4,061		920
Total stock-based compensation cost	$	35,790	$	138,280	$	75,165	$	148,666