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Stockholders' Equity (Tables)
6 Months Ended
Jun. 30, 2022
Stockholders' Equity Note [Abstract]  
Common Stock Reserved for Future Issuance

The Company has reserved the following shares of common stock for future issuance:

 

 

June 30, 2022

 

 

December 31, 2021

 

2014 Stock Plan:

 

 

 

 

 

Options outstanding

 

51,899,378

 

 

 

61,903,883

 

Restricted stock units outstanding

 

2,864,365

 

 

 

3,495,540

 

2021 Equity Incentive Plan:

 

 

 

 

 

Options outstanding

 

22,500

 

 

 

22,500

 

Restricted stock units outstanding

 

14,302,853

 

 

 

2,938,968

 

Remaining shares available for future issuance

 

36,782,187

 

 

 

32,797,245

 

2021 Employee Stock Purchase Plan

 

7,145,776

 

 

 

5,162,575

 

Total

 

113,017,059

 

 

 

106,320,711

 

Summary of Stock Equity Award Activity

The following table summarizes stock equity award activity and activity regarding shares available for grant under the 2014 Plan and the 2021 Plan:

 

 

 

 

 

 

Equity Awards Outstanding

 

 

 

Shares Available for Grant

 

 

Outstanding
Stock Options

 

 

Weighted-Average
Exercise Price

 

 

Weighted-Average Remaining Contractual Term
(in years)

 

 

Aggregate Intrinsic Value
(in thousands)

 

Balance as of January 1, 2022

 

 

32,797,245

 

 

 

61,926,383

 

 

$

6.97

 

 

 

7.88

 

 

$

4,289,643

 

Increase in authorized shares

 

 

13,590,094

 

 

 

-

 

 

$

-

 

 

 

 

 

 

 

Stock options exercised

 

 

-

 

 

 

(7,695,923

)

 

$

3.31

 

 

 

 

 

 

 

Stock options forfeited or expired

 

 

2,308,582

 

 

 

(2,308,582

)

 

$

8.52

 

 

 

 

 

 

 

Repurchases of unvested common stock

 

 

130,845

 

 

 

-

 

 

$

-

 

 

 

 

 

 

 

RSUs granted

 

 

(12,688,748

)

 

 

-

 

 

$

-

 

 

 

 

 

 

 

RSUs forfeited or cancelled

 

 

644,169

 

 

 

-

 

 

$

-

 

 

 

 

 

 

 

Balance as of June 30, 2022

 

 

36,782,187

 

 

 

51,921,878

 

 

$

7.44

 

 

 

7.53

 

 

$

820,908

 

Vested as of June 30, 2022

 

 

 

 

 

24,848,276

 

 

$

5.31

 

 

 

6.99

 

 

$

445,825

 

Vested and expected to vest as of June 30, 2022

 

 

 

 

 

51,921,878

 

 

$

7.44

 

 

 

7.53

 

 

$

820,908

 

Schedule of Restricted Stock Unit Activity

The following table summarizes RSU activity under the 2014 Plan and the 2021 Plan:

 

 

 

RSUs Outstanding

 

 

 

Number of Shares

 

 

Weighted-Average
Grant Date
Fair Value

 

Unvested balance as of January 1, 2022

 

 

6,434,508

 

 

$

46.01

 

RSUs granted

 

 

12,688,748

 

 

$

34.80

 

RSUs vested

 

 

(1,311,869

)

 

$

44.21

 

RSUs forfeited or cancelled

 

 

(644,169

)

 

$

44.72

 

Unvested balance as of June 30, 2022

 

 

17,167,218

 

 

$

37.89

 

Summary of Stock-Based Compensation Expense

Total stock-based compensation expense was as follows (in thousands):

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Cost of revenue - subscription

 

$

6,018

 

 

$

2,172

 

 

$

11,331

 

 

$

3,147

 

Cost of revenue - services

 

 

2,328

 

 

 

1,055

 

 

 

4,190

 

 

 

1,599

 

Research and development

 

 

25,337

 

 

 

8,932

 

 

 

45,422

 

 

 

12,443

 

Sales and marketing

 

 

24,746

 

 

 

11,155

 

 

 

45,808

 

 

 

16,131

 

General and administrative

 

 

10,437

 

 

 

11,202

 

 

 

19,484

 

 

 

14,549

 

Stock-based compensation, net of amounts capitalized

 

$

68,866

 

 

$

34,516

 

 

$

126,235

 

 

$

47,869

 

Capitalized stock-based compensation

 

 

1,598

 

 

 

396

 

 

 

3,125

 

 

 

494

 

Total stock-based compensation

 

$

70,464

 

 

$

34,912

 

 

$

129,360

 

 

$

48,363