Stock Incentive Plans (Tables)

12 Months Ended

Dec. 31, 2023

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

Schedule of Shares of Common Stock Reserved for Future Issuances

The following table summarizes the shares of common stock reserved for future issuance under the 2021 Plan as of December 31, 2023 and 2022:

	December 31,
	2023		2022
Stock options outstanding		35,788,469		45,249,260
Restricted stock units outstanding		36,329,881		31,288,688
Restricted stock units available for future grant		49,451,502		57,946,089
Reserved for ESPP		4,981,134		5,622,825
Common stock reserved for future issuance		126,550,986		140,106,862

Schedule of Non-vested Restricted Stock Units Activity

The table below summarizes the RSU activity for the years ended December 31, 2023, 2022, and 2021:

				Weighted-
				Average
	Shares			Fair Value
Non-vested RSUs—December 31, 2020		—		$	—
Granted		18,677,411			10.74
Canceled		(119,200	)		11.59
Non-vested RSUs—December 31, 2021		18,558,211		$	10.74
Granted		16,426,878			10.07
Vested		(2,324,324	)		11.22
Canceled		(1,372,077	)		10.93
Non-vested RSUs—December 31, 2022		31,288,688			10.34
Granted		12,574,115			9.01
Vested		(5,707,373	)		10.57
Canceled		(1,825,549	)		9.90
Non-vested RSUs—December 31, 2023		36,329,881		$	10.56

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The valuation of the performance-based RSUs with a market condition granted or modified during the years ended December 31, 2023, 2022 and 2021 was determined using a Monte Carlo Simulation model using the following assumptions:

	2023	2022	2021
Expected term (in years)	1.1-2.1	2.8	2.2
Expected volatility	28%-32%	35%	35%
Expected dividend yield	0%	0%	0%
Risk-free interest rate	4.36%-4.87%	2.28%	0.51%

Summary of Share-based Compensation Arrangements by Share-based Payment Award

The table below summarizes the option activity for the years ended December 31, 2023, 2022 and 2021 :

				Weighted-		Weighted-Average
				Average		Remaining		Aggregate
				Exercise		Contractual Life		Intrinsic Value
	Shares			Price		(in years)		(in thousands)
Options outstanding—December 31, 2020		55,570,039			3.03		6.9	$	337,358
Granted		2,822,484			8.58
Exercised		(1,924,063	)		2.70
Forfeited and canceled		(823,965	)		3.66
Options outstanding—December 31, 2021		55,644,495			2.95		6.0		469,591
Exercised		(10,081,164	)		2.74
Forfeited and canceled		(314,071	)	$	4.46
Options outstanding—December 31, 2022		45,249,260			2.99		4.9		258,470
Exercised		(8,923,718	)		2.85
Forfeited and canceled		(537,073	)		6.88
Options outstanding—December 31, 2023		35,788,469		$	2.96		4.0	$	301,563
Options exercisable—December 31, 2023		33,971,974		$	2.79		3.9	$	292,059
Options vested and expected to vest—December 31, 2023		35,726,785		$	2.96		4.0	$	301,252

Summary of Share-based Payment Arrangement, Expensed and Capitalized, Amount

Stock-Based Compensation—Stock-based compensation expense has been recorded in the accompanying consolidated statements of operations and comprehensive (loss) income as follows for the years ended December 31, 2023, 2022 and 2021 (in thousands):

	Year Ended December 31,
	2023		2022		2021
Cost of revenues	$	8,802	$	5,812	$	13,644
Research and development		25,467		19,536		40,681
Sales and marketing		33,204		25,309		65,045
General and administrative		77,045		58,840		142,625
Total stock-based compensation expense	$	144,518	$	109,497	$	261,995

Time Based Vesting Conditions [Member]

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

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The valuation of time-based stock options granted during the year ended December 31, 2021 was determined using the Black-Scholes option valuation model using the following assumptions:

	2021
Expected term (in years)	6.5
Expected volatility	40%
Expected dividend yield	0%
Risk-free interest rate	0.62 - 0.67%

Performance And Market Based Vesting Conditions [Member]

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

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The valuation of the performance-based options with a market condition granted during the year ended December 31, 2021 was determined through the Monte Carlo simulation model using the following assumptions:

	2021
Expected term (in years)	5.5
Expected volatility	33%
Expected dividend yield	0%
Risk-free interest rate	0.44%

2021 Employee Stock Purchase Plan [Member]

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

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The fair value of ESPP purchase rights sold during the years ended December 31, 2023 and 2022 was estimated using the Black-Scholes option pricing model with the following assumptions:

	2023	2022
Expected term (in years)	0.5	0.5
Expected volatility	30%-51%	47%
Expected dividend yield	0%	0%
Risk-free interest rate	2.5%-4.7%	0.2%

Cayman Equity Incentive Plan [Member]

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

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The fair values of the outstanding awards at December 31, 2023 and 2022 were based on the Black-Scholes option pricing model using the following assumptions:

	2023	2022
Expected term (in years)	5.25 - 5.42	6.25
Expected volatility	40%	40%
Expected dividend yield	0%	0%
Risk-free interest rate	3.8%	3.5%