Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Fair Value of Stock Options Estimated by Using Assumptions

The fair value for the Company’s stock options granted and Employee Stock Purchase Plan (the "ESPP") purchase rights, as discussed further below, during the periods presented were estimated at grant date using a Black Scholes option-pricing model using the following weighted average assumptions:

	Stock Options				ESPP
	March 31, 2020		March 31, 2019		March 31, 2020		March 31, 2019
Expected dividend rate	0%		0%		0%		0%
Expected volatility	56.2%		39.8%		48.1%		46.0%
Risk-free interest rate	1.53%		2.48% - 2.59%		1.57%		2.44%
Expected term (in years)		6.25		6.25		0.50		0.42

Summary of Stock Option Activity

The following table summarizes stock option activity for the three months ended March 31, 2020:

	Number of Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value
	(In thousands)			(Per share)		(Years)		(In thousands)
Balances at December 31, 2019		2,786		$	13.67		7.7	$	31,489
Granted		524		$	25.42
Exercised		(228	)	$	5.77
Forfeited		(136	)	$	19.04
Balances at March 31, 2020		2,946		$	16.13		7.8	$	12,663
Options vested and expected to vest at March 31, 2020		2,946		$	16.13		7.8	$	12,663
Options vested and exercisable at March 31, 2020		1,210		$	9.27		6.3	$	9,703

Summary of Restricted Stock Unit Activity

The following table summarizes the RSU activity for the Company for the three months ended March 31, 2020:

	Number of Shares			Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value
	(In thousands)			(Per share)		(Years)		(In thousands)
Balances at December 31, 2019		1,881		$	23.08		1.6	$	44,386
Granted		1,219		$	25.39
Vested		(271	)	$	26.41
Forfeited		(111	)	$	22.98
Balances at March 31, 2020		2,718		$	23.79		1.8	$	41,361
Units expected to vest at March 31, 2020		2,718		$	23.79		1.8	$	41,361

Summary of Stock-Based Compensation Expense By Underlying Equity Instrument

A summary of the Company’s stock-based compensation expense, which includes stock options, incentive units, RSUs and ESPP, is presented below:

	Three Months Ended
	March 31, 2020		March 31, 2019
	(In thousands)
Stock options	$	1,391	$	1,244
Incentive units		—		351
RSUs		4,198		2,328
ESPP		602		716
Total stock-based compensation expense	$	6,191	$	4,639

Summary of Stock-Based Compensation Expense

A summary of the Company’s stock-based compensation expense as recognized on the condensed consolidated statements of operations is as follows:

	Three Months Ended
	March 31, 2020		March 31, 2019
	(In thousands)
Cost of revenue - subscription	$	389	$	260
Cost of revenue - services and other		427		349
Research and development		1,501		917
General and administrative		1,002		1,371
Sales and marketing		2,872		1,742
Total stock-based compensation expense	$	6,191	$	4,639