XML 44 R34.htm IDEA: XBRL DOCUMENT v3.23.2
Stockholders’ Equity (Tables)
 6 Months Ended
Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Shares and Warrants Reserved for Issuance
In December 2020, the Company's amended and restated certificate of incorporation became effective, which 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,
20222023
Options issued and outstanding12,547,010 13,370,041 
Restricted stock units outstanding6,046,796 7,274,949 
Performance-based restricted stock unit outstanding687,500 — 
Shares available for future issuance under 2020 plan5,842,057 6,298,961 
Shares available for issuance under employee stock purchase plan2,543,089 3,043,551 
Total27,666,452 29,987,502 
Schedule of Stock Option Activity
The following table summarizes stock option activity for the six months ended June 30, 2023:
Number of OptionsWeighted-Average Exercise Price Per ShareWeighted-Average Remaining Contractual Life (years)Aggregate
Intrinsic
Value
Balances at December 31, 202212,547,010 $14.65 6.6$77,289 
Options granted2,079,808 15.31 
Options exercised(770,693)8.66 
Options cancelled and forfeited(486,084)28.73 
Balances at June 30, 202313,370,041 14.59 6.5334,620 
Options exercisable – June 30, 20238,384,465 7.89 5.0247,081 
Options vested and expected to vest – June 30, 202313,339,096 $14.54 6.5$334,620 
Schedule of Restricted Stock Units and Restricted Stock The following table summarizes RSU activity for the six months ended June 30, 2023:
Number of SharesWeighted-Average Grant Date Fair Value Per Share
Unvested at December 31, 20226,046,796$51.28 
RSUs granted3,658,84718.16 
RSUs vested(1,469,356)38.96 
RSUs cancelled and forfeited(961,338)68.60 
Unvested at June 30, 20237,274,949$34.82 
The following table summarizes restricted stock activity for the six months ended June 30, 2023:

Number of SharesWeighted-Average Grant Date Fair Value Per Share
Unvested at December 31, 202210,271$123.33 
Vested(10,271)123.33 
Unvested at June 30, 2023—$— 
Schedule of 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,
2022202320222023
Expected term (in years)
6.0 – 6.2
5.2 – 5.3
5.2 – 7.0
5.2 – 7.0
Expected volatility
49.37% – 49.78%
53.13% – 53.26%
47.58% – 49.78%
50.96% – 53.26%
Risk-free interest rate
3.34%
3.74%
1.70% – 3.34%
3.45% – 3.74%
Dividend yield—%—%—%—%
Schedule of 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
0%

The following assumptions were used to estimate the fair value of ESPP purchase rights:
Three Months Ended June 30,Six Months Ended June 30,
2022202320222023
Expected term (in years)**
0.5
0.5
Expected volatility**
91.98%
97.74%
Risk-free interest rate**
0.72%
4.97%
Dividend yield**—%—%
_________
*No ESPP purchase rights were granted during the three months ended June 30, 2022 and June 30, 2023.
Schedule of 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,
2022202320222023
Sales and marketing$2,624 $(1,505)$4,862 $1,867 
Customer operations2,085 3,093 3,704 5,976 
Engineering and product development17,894 18,708 31,528 75,367 
General, administrative, and other7,726 12,300 15,285 23,495 
Total$30,329 $32,596 $55,379 $106,705