Stockholder's Equity and Employee Benefit Plans (Tables)

6 Months Ended

Jun. 30, 2022

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of Stock Option Activity

The following is a summary of stock option activity for the current year period:

	Stock Options
	Number of Shares			Weighted Average Exercise Price		Aggregate Intrinsic Value (in thousands)		Weighted Average Remaining Contractual Term (in years)
Outstanding at December 31, 2021		14,527,520		$	17.11	$	61,227		6.3
Granted		—		$	—
Exercised		(206,132	)	$	13.71
Forfeited		(465,656	)	$	20.13
Expired		(666,447	)	$	18.40
Outstanding, vested and expected to vest at June 30, 2022		13,189,285		$	17.00	$	7,796		5.7
Vested and exercisable at June 30, 2022		10,996,360		$	16.28	$	7,796		5.3

Summary of Estimated Fair Value of Stock Options Granted Using Weighted-average Assumptions

Except for the Executive Option Grant discussed above, the Company used the Black-Scholes-Merton option pricing model to estimate the fair value of stock options granted using the following weighted-average assumptions:

	Three Months Ended June 30,		Six Months Ended June 30,
	2022	2021	2022	2021
Expected life (in years)	n/a	6.2	n/a	5.8
Risk-free interest rate	n/a	1.2%	n/a	0.8%
Volatility	n/a	51%	n/a	51%
Dividend yield	n/a	—%	n/a	—%
Fair value of common stock	n/a	$18.39	n/a	$21.70

Summary of Estimated Fair Value of ESPP Purchase Rights Granted Using Weighted-average Assumptions

The Company used the Black-Scholes-Merton option pricing model to estimate the fair value of ESPP purchase rights granted using the following weighted-average assumptions:

	Three Months Ended June 30,		Six Months Ended June 30,
	2022	2021	2022	2021
Expected life (in years)	1.3	1.3	1.3	1.3
Risk-free interest rate	2.2%	0.1%	2.2%	0.1%
Volatility	53%	53%	53%	53%
Dividend yield	—%	—%	—%	—%
Fair value of common stock	$12.09	$19.12	$12.09	$19.12

Summary of Stock-based Compensation Expense Recognized in Financial Statements

Stock-based compensation expense recognized in the condensed consolidated financial statements is as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2022		2021		2022		2021
Cost of revenue	$	1,624	$	1,580	$	3,033	$	3,062
Research and development		8,703		10,313		17,347		19,810
Sales and marketing		6,358		6,414		12,423		12,192
General and administrative		8,905		7,266		16,280		14,108
Restructuring		—		—		2,761		—
Stock-based compensation expense, net of amounts capitalized		25,590		25,573		51,844		49,172
Capitalized stock-based compensation expense		729		577		1,448		1,136
Total stock-based compensation expense	$	26,319	$	26,150	$	53,292	$	50,308

Summary of Unamortized Stock-based Compensation

As of June 30, 2022, unamortized stock-based compensation was as follows:

	Unrecognized stock-based compensation (in thousands)		Weighted average recognition period (in years)
Restricted stock units	$	150,386		2.4
Stock options		14,498		1.7
Restricted stock awards		19,908		2.5
ESPP		10,832		1.9
Total unrecognized stock-based compensation	$	195,624

Restricted Stock Units

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of Restricted Stock Units and Restricted Stock Awards

The following is a summary of restricted stock units for the current year period:

	Restricted Stock Units
	Number of Shares			Weighted Average Grant-Date Fair Value		Weighted Average Remaining Contractual Term (in years)
Unvested at December 31, 2021		5,996,059		$	21.33		1.1
Granted		6,282,976		$	15.76
Vested		(1,948,293	)	$	19.23
Forfeited/cancelled		(1,354,575	)	$	19.35
Unvested at June 30, 2022		8,976,167		$	18.19		1.3

Restricted Stock Awards

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of Restricted Stock Units and Restricted Stock Awards

The following is a summary of restricted stock awards for the current year period:

	Restricted Stock Awards
	Number of Shares			Weighted Average Grant-Date Fair Value		Weighted Average Remaining Contractual Term (in years)
Unvested at December 31, 2021		241,765		$	24.17		2.0
Granted		1,392,871		$	16.72
Vested		(164,206	)	$	18.97
Forfeited/cancelled		—		$	—
Unvested at June 30, 2022		1,470,430		$	17.69		2.4