Equity Awards (Tables)

3 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

Stock option activity during the three months ended March 31, 2020 consisted of the following (in thousands, except weighted-average information):

	Options Outstanding		Weighted- Average Exercise Price
Options outstanding at December 31, 2019	2,712		$	22.58
Granted	178		153.26
Exercised	(451	)	18.32
Canceled/forfeited	(70	)	20.79
Options outstanding at March 31, 2020	2,369		$	33.28

Schedule of Valuation Assumptions

The following table presents the weighted-average assumptions used for stock options granted under our 2017 Equity Incentive Plan for each of the periods indicated:

	Three Months Ended March 31,
	2020			2019
Expected term (in years)	5.8			5.8
Estimated volatility	43		%	38		%
Risk-free interest rate	1		%	3		%
Estimated dividend yield	—		%	—		%
Weighted average fair value	$	64.35		$	27.41

Schedule of RSU Activity

Restricted stock unit, or RSU, activity during the three months ended March 31, 2020 consisted of the following (in thousands, except weighted-average information):

	Awards Outstanding		Weighted- Average Grant Date Fair Value
RSUs outstanding at December 31, 2019	1,576		$	64.46
Granted	476		146.71
Vested	(224	)	56.89
Canceled/forfeited	(52	)	47.09
RSUs outstanding at March 31, 2020	1,776		$	87.97

Schedule of Stock-based Compensation Expense

We classified stock-based compensation expense in the accompanying condensed consolidated statements of operations and comprehensive income (loss) as follows (in thousands): 

	Three Months Ended March 31,
	2020		2019
Cost of revenue	$	436	$	307
Research and development	3,627		839
Sales and marketing	5,149		2,199
General and administrative	4,452		1,990
Total	$	13,664	$	5,335