Stock-based compensation (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of stock based compensation

The Company recognized stock-based compensation expense for all equity arrangements as follows:

	Years Ended December 31,
	2023		2022		2021
	(in thousands)
Cost of revenue:
Subscription	$	10,229	$	8,854	$	3,755
Services	1,386		1,299		594
Sales and marketing	33,127		33,559		10,938
Research and development	23,719		24,392		10,512
General and administrative	32,539		41,066		10,006
	$	101,000	$	109,170	$	35,805

Summary of stock-option activity

The table below summarizes return target option activity for the year ended December 31, 2023:

	Options	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (in thousands)
Outstanding, December 31, 2022	3,272,920	$	6.75	5.8	$	47,623
Granted	—	—
Exercised	(678,298)	7.26			9,276
Forfeitures	—	—
Outstanding, December 31, 2023	2,594,622	$	6.61	4.3	$	29,697
Options exercisable at December 31, 2023	2,594,622	$	6.61	4.3	$	29,697
Vested or expected to vest at December 31, 2023	2,594,622	$	6.61	4.3	$	29,697

The table below summarizes the service-based option activity for the year ended December 31, 2023:

	Options	Weighted‑ Average Exercise Price		Weighted‑ Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (in thousands)
Outstanding, December 31, 2022	1,215,822	$	5.70	5.1	$	18,968
Granted	—	—
Exercised	(166,937)	6.68			2,192
Forfeitures	—	—
Outstanding, December 31, 2023	1,048,885	$	5.54	3.2	$	13,129
Options exercisable at December 31, 2023	1,048,885	$	5.54	3.2	$	13,129
Vested or expected to vest at December 31, 2023	1,048,885	$	5.54	3.2	$	13,129

Summary of restricted stock units activity

RSU activity for the year ended December 31, 2023 was as follows:

	Units	Weighted-Average Grant Date Fair Value (per share)
Outstanding, December 31, 2022	8,417,357	$	29.61
Granted	5,478,078	19.45
Vested	(2,489,574)	29.72
Forfeited	(854,182)	27.91
Outstanding, December 31, 2023	10,551,679	$	24.49

Schedule of ESPP Activity

ESPP activity for the years ended December 31, 2023 and 2022 was as follows:

	Years Ended December 31,
	2023		2022
Shares issued	433,121		295,189
Weighted-average purchase price	$	14.34	$	22.80
Total proceeds (in thousands)	$	6,077	$	6,840

Schedule of share-based payment award, employee stock purchase plan, valuation assumptions

The Company used the following assumptions in the Black-Scholes option pricing model:

	Years Ended December 31,
	2023	2022	2021
Expected term	0.5 years	0.5 years	0.5 years
Expected volatility	43.00% - 51.25%	60.05% - 64.90%	40.31%
Risk-free interest rate	5.14% - 5.51%	1.49% - 4.58%	0.06%
Expected dividend yield	—%	—%	—%