Share-based compensation (Tables)

9 Months Ended

Sep. 30, 2021

Share-based Payment Arrangement [Abstract]

Summary of Stock-Option Activity

The table below summarizes return target options activity for the nine months ended September 30, 2021:

	Options	Weighted‑ Average Exercise Price		Weighted‑ Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (in thousands)
Outstanding, December 31, 2020	3,687,664	$	6.75	7.8	$	85,444
Granted	—	—			—
Exercised	—	—			—
Forfeitures	—	—			—
Outstanding, September 30, 2021	3,687,664	$	6.75	7.0	$	117,158
Options exercisable at September 30, 2021	—	$	—	—	$	—
Vested or expected to vest at September 30, 2021	—	$	—	—	$	—

The table below summarizes the service-based option activity for the nine months ended September 30, 2021:

	Options	Weighted‑ Average Exercise Price		Weighted‑ Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (in thousands)
Outstanding, December 31, 2020	3,546,826	$	5.65	7.1	$	86,098
Granted	—	—			—
Exercised	(1,526,856)	5.61			44,082
Forfeitures	—	—			—
Outstanding, September 30, 2021	2,019,970	$	5.67	6.3	$	66,355
Options exercisable at September 30, 2021	1,533,479	$	5.50	6.2	$	50,633
Vested or expected to vest at September 30, 2021	2,019,970	$	5.67	6.3	$	66,355

Summary of Restricted Stock Units Stock Option Activity

Restricted stock unit (“RSU”) activity for the nine months ended September 30, 2021 is as follows:

	Units	Per Unit Fair Value
Outstanding, December 31, 2020	1,293,107	$	26.34
Granted	2,725,991	34.86
Vested	(507,776)	30.32
Forfeited	(84,132)	27.64
Outstanding, September 30, 2021	3,427,190	$	32.49

Schedule of Stock Based Compensation

The Company recognized stock-based compensation expense as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
	(in thousands)
Cost of revenue:
Subscription	$	1,716	$	314	$	2,384	$	390
Services	229		62		381		62
Sales and marketing	4,833		675		6,763		897
Research and development	5,145		523		7,076		821
General and administrative	3,913		754		6,170		1,733
	$	15,836	$	2,328	$	22,774	$	3,903