Stockholders' Equity and Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2022

Equity [Abstract]

Share-based Payment Arrangement, Option, Activity

Stock option activity for the three months ended March 31, 2022 is presented below (in thousands, except per share and contractual life amounts):

	Number of Shares	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Life (in Years)	Aggregate Intrinsic Value
Outstanding at December 31, 2021	20,025	$	8.51	7.8	$	60,223
Granted	—	—
Exercised	(480)	1.69
Forfeited	(205)	10.87
Outstanding at March 31, 2022	19,340	$	8.65	7.5	$	53,286
Vested and expected to vest at March 31, 2022	17,278	$	8.14	7.4	$	51,006
Exercisable at March 31, 2022	9,529	$	5.84	6.6	$	37,083

Share-based Payment Arrangement, Restricted Stock Unit, Activity

Restricted stock unit ("RSUs") activity for the three months ended March 31, 2022 is presented below (in thousands, except per share amounts):

	Number of Shares	Weighted-Average Grant Date Fair Value
Unvested at December 31, 2021	613	$	15.08
Granted	1,996	6.28
Released	(60)	15.21
Vested	(15)	16.80
Unvested at March 31, 2022	2,534	$	8.27

Share-based Compensation Expense

Stock-based compensation expense was recorded in the following categories in the Condensed Consolidated Statements of Operations (in thousands):

	Three Months Ended March 31,
	2022		2021
Cost of subscription, transaction, and services	$	438	$	443
Research and development	1,225		1,222
Sales and marketing	754		1,332
General and administrative	3,661		5,829
Total	$	6,078	$	8,826

Stock Option Valuation Assumptions

The fair value of the Company's stock options granted and purchase rights to the ESPP were estimated using the Black-Scholes valuation model with the following assumptions:

	Three Months Ended March 31,
	2022			2021
Stock Options:
Risk-free interest rate	—			0.6% - 1.1%
Expected dividend yield	—			—		%
Expected volatility	—			42%
Expected life (in years)	—			5.5
Weighted average grant date fair value	—			$	6.52
Employee Stock Purchase Plan:
Risk-free interest rate	0.1%			—
Expected dividend yield	—		%	—
Expected volatility	40%			—
Expected life (in years)	0.5			—
Weighted average grant date fair value	$	1.83		—