XML 38 R29.htm IDEA: XBRL DOCUMENT v3.22.2
Stockholders’ Equity (Tables)
 6 Months Ended
Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of shares and warrants reserved for issuance
The Company's amended and restated certificate of incorporation authorizes the issuance of 700,000,000 shares of common stock with a par value of $0.0001 per share. Shares of common stock reserved for issuance, on an as-converted basis, are as follows:
December 31,June 30,
20212022
Options issued and outstanding12,785,176 11,138,435 
RSUs outstanding1,508,615 2,497,064 
PRSUs outstanding— 687,500 
Shares available for future issuance under 2020 plan9,979,700 12,149,138 
Shares available for issuance under ESPP1,869,302 2,657,991 
Total26,142,793 29,130,128 
Summarized stock option activity The following table summarized stock option activity for the six months ended June 30, 2022:
Number of OptionsWeighted-Average Exercise Price Per ShareWeighted-Average Remaining Contractual Life (years)Aggregate
Intrinsic
Value
Balances at December 31, 202112,785,176 $10.23 6.8$1,803,812 
Options granted289,343 121.25 
Options exercised(1,804,373)5.23 
Options cancelled and forfeited(131,711)34.30 
Balances at June 30, 202211,138,435 13.64 6.3268,860 
Options exercisable – June 30, 20227,176,849 4.44 5.4197,786 
Options vested and expected to vest – June 30, 202211,070,099 $13.25 6.3$268,281 
Summaries of restricted stock units and restricted stock The following table summarized RSU activity for the six months ended June 30, 2022:
Number of SharesWeighted-Average Grant Date Fair Value Per Share
Unvested at December 31, 20211,508,615$140.10 
RSUs granted1,282,88691.38 
RSUs vested(179,878)108.42 
RSUs cancelled and forfeited(114,559)126.40 
Unvested at June 30, 20222,497,064$117.98 
The following table summarized Restricted Stock activity for the six months ended June 30, 2022:

Number of SharesWeighted-Average Grant Date Fair Value Per Share
Unvested at December 31, 202161,651$121.65 
Vested20,550121.65 
Unvested at June 30, 202241,101$121.65 
Stock options fair value assumptions
The following assumptions were used to estimate the fair value of options granted:

Three Months Ended June 30,Six Months Ended June 30,
2021202220212022
Expected term (in years)*
6.0 – 6.2
5.3 – 6.9
5.2 – 7.0
Expected volatility*
49.37% – 49.78%
63.12% – 65.01%
47.58% – 49.78%
Risk-free interest rate*
3.34%
0.62% – 1.14%
1.70% – 3.34%
Dividend yield*—%—%—%
_________
* No options were granted during the three months ended June 30, 2021
Employee stock purchase plan fair value assumptions
The following assumptions were used to estimate the fair value of the February 2022 PRSUs granted:

Expected term (in years)
6.9
Expected volatility
48.43%
Risk-free interest rate
1.89%
Dividend yield
—%

The following assumptions were used to estimate the fair value of ESPP purchase rights:
Three Months Ended June 30,Six Months Ended June 30,
2021202220212022
Expected term (in years)**0.60.5
Expected volatility**61.65%91.98%
Risk-free interest rate**0.09%0.72%
Dividend yield**—%—%
_________
* No ESPP purchase rights were granted during the three months ended June 30, 2021 and 2022.
Stock-based compensation expense
The Company recorded stock-based compensation in the following expense categories in its condensed consolidated statements of operations and comprehensive income (loss) for employees and nonemployees:
Three Months Ended June 30,Six Months Ended June 30,
2021202220212022
Sales and marketing$1,427 $2,624 $2,180 $4,862 
Customer operations1,624 2,085 2,376 3,704 
Engineering and product development12,472 17,894 16,779 31,528 
General, administrative, and other5,663 7,726 8,473 15,285 
Total$21,186 $30,329 $29,808 $55,379