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Equity Incentive Plans and Stock-Based Compensation
 9 Months Ended
Sep. 30, 2022
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Equity Incentive Plans and Stock-Based Compensation

11. Equity Incentive Plans and Stock-Based Compensation

As of September 30, 2022, we have two active equity incentive plans: the 2020 Equity Incentive Plan and the Employee Stock Purchase Plan (“ESPP”).

The following table summarizes stock-based compensation expense by line item in the accompanying condensed consolidated statements of operations (in thousands):

 

 

 

Three Months Ended

September 30,

 

 

Nine Months Ended

September 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of revenue

 

$

369

 

 

$

282

 

 

$

1,034

 

 

$

756

 

Sales, general and administrative

 

 

4,505

 

 

 

4,889

 

 

 

13,518

 

 

 

11,061

 

Product development

 

 

769

 

 

 

641

 

 

 

2,329

 

 

 

1,839

 

    Stock-based compensation expense, net of amounts capitalized (1)

 

$

5,643

 

 

$

5,812

 

 

$

16,881

 

 

$

13,656

 

     Income tax benefits related to stock-based

          compensation expense

 

$

123

 

 

$

832

 

 

$

493

 

 

$

5,987

 

 

 

(1)

Total stock-based compensation expense capitalized in inventory and as cloud computing arrangement implementation costs were not material for each of the periods presented.

 

The following table summarizes by type of grant, the total unrecognized stock-based compensation expense and the remaining period over which such expense is expected to be recognized (in thousands, except number of years):

 

 

September 30, 2022

 

 

Unrecognized Expense

 

 

Remaining weighted average period (In years)

 

 

 

 

 

 

 

Stock Options

 

$

24,702

 

 

2.6

RSUs

 

 

27,773

 

 

3.0

ESPP

 

 

300

 

 

0.25

    Total unrecognized stock-based compensation expense

 

$

52,775

 

 

 

 

The total intrinsic value of options exercised was $0.4 million and $4.4 million for the three and nine months ended September 30, 2022, respectively, and was $8.8 million and $62.4 million for the three and nine months ended September 30, 2021, respectively. The total fair value of RSUs vested was $1.1 million and $4.0 million for the three and nine months ended September 30, 2022, respectively, and was $0.8 million for both the three and nine months ended September 30, 2021.