Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2023

Summary of Stock Option Activity

The following table summarizes the stock option activity under the 2017 Plan for the period:

	Number of options			Weighted average exercise price per share		Weighted average remaining contractual term (years)		Aggregate  intrinsic value  (in millions)
Outstanding as of December 31, 2022		7,491,491		$	50.39		8.5	$	11.5
Granted		902,355		$	65.19
Exercised		(229,359	)	$	45.06
Forfeited		(16,642	)	$	58.35
Outstanding as of March 31, 2023		8,147,845		$	52.17		8.5	$	167.6
Exercisable as of March 31, 2023		2,070,222		$	49.86		7.6	$	47.3

Summary of Stock-Based Compensation

tock-based compensation expense was recorded as follows (in thousands):

	Three Months Ended March 31,
	2023		2022
Cost of revenue – software	$	2,752	$	1,903
Research and development		8,743		7,358
Sales and marketing		7,591		7,035
General and administrative		3,075		2,318
Total stock-based compensation expense	$	22,161	$	18,614

2017 Plan [Member]

Summary of Restricted Stock Units Awarded

The following table summarizes the restricted stock units, or RSUs, awarded under the 2017 Plan for the period:

	Number of RSUs
Outstanding as of December 31, 2022		1,230,774
Granted		317,713
Vested		(336,535	)
Forfeited		(6,365	)
Outstanding as of March 31, 2023		1,205,587