Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Schedule Of Share Based Compensation Arrangements By Share Based Paymen tAward [Line Items]

Summary of the Stock Option Activity

The stock option activity is summarized in the following table:

	Number of Option Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value (in millions)
Outstanding as of December 31, 2022		24,716,270		$	2.19		7.32	$	49.69
Granted		104,020			13.53
Exercised		(1,800,450	)		1.25
Cancelled/ Forfeited		(1,355,463	)		3.23
Outstanding as of December 31, 2023		21,664,377		$	2.26		6.05	$	220.08
Exercisable as of December 31, 2023		14,987,758		$	1.44		5.41	$	164.45
Exercisable and expected to vest as of December 31, 2023		21,664,377		$	2.26		6.05	$	220.08

Summary of stock option grants, vesting and exercises

The following table summarizes additional information on stock option grants, vesting and exercises (in millions, except per share amounts):

	Year Ended December 31,
	2023		2022
Total intrinsic value of options exercised	$	18.6	$	6.7
Aggregate grant-date fair value of options vested	$	15.5	$	9.9
Weighted-average grant date fair value per share for    options granted	$	9.38	$	5.58

Summary of restricted stock unit ("RSU") activity

The RSU activity is summarized in the following table:

	Number of RSUs			Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term (Years)		Aggregate Fair Value (in millions)
Outstanding as of December 31, 2022		9,320,045		$	7.02		3.21	$	65.38
Granted		11,072,072			9.97
Vested		(4,466,894	)		7.89
Forfeited		(817,688	)		7.42
Outstanding as of December 31, 2023		15,107,535		$	8.90		2.98	$	134.42
Expected to vest after December 31, 2023		15,066,535		$	8.89		2.98	$	133.89

Summary of Performance Share Unit ("PSU") Activity Based on Awards at Target

The PSU activity is summarized in the following table, based on awards at target:

	Number of PSUs			Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term (Years)		Aggregate Fair Value (in millions)
Outstanding as of December 31, 2022		—		$	—		—	$	—
Granted		4,641,564			15.74
Forfeited		(333,731	)		15.56
Outstanding as of December 31, 2023		4,307,833		$	15.75		3.17	$	67.86
Expected to vest after December 31, 2023(1)		6,461,750		$	15.06		3.17	$	97.34

(1)Represents the number of PSUs expected to vest, which may exceed the target number of shares, based on the Company's probability assessment of expected performance during the performance period.

Summary of Unrecognized Stock-Based Compensation

A summary of the Company's remaining unrecognized compensation expense and the weighted-average remaining amortization period as of December 31, 2023, related to its non-vested stock option awards, RSUs and PSUs is presented below (in millions, except time period amounts):

	Unrecognized Expense		Weighted- Average Amortization Period (Years)
Restricted stock units	$	122.8		3.1
Performance-based restricted stock units		87.0		3.2
Stock options		26.5		2.2

Summary of Stock-based Compensation Expenses for Stock Options and Unvested Common Stock

Total stock-based compensation expense for stock option awards, RSUs and PSUs, which are included in the consolidated financial statements, is as follows (in thousands):

	Year Ended December 31,
	2023		2022
Cost of revenue	$	2,819	$	902
Research and development		40,103		13,472
Sales and marketing		6,762		1,298
General and administrative		20,059		15,784
Stock-based compensation, net of amounts capitalized	$	69,743	$	31,456
Capitalized stock-based compensation—Intangibles and fixed assets		4,702		1,741
Total stock-based compensation	$	74,445	$	33,197

Stock Options [Member]

Schedule Of Share Based Compensation Arrangements By Share Based Paymen tAward [Line Items]

Summary of Share Based Payment Award Stock Options Valuation Assumptions

The assumptions used to estimate the fair value of stock options granted are as follows:

	Year Ended December 31,
	2023			2022
Risk-free interest rate		4.09	%		2.60	%
Expected term (in years)		5.50			5.82
Expected volatility		80.63	%		75.82	%
Dividend yield		—	%		—	%

Performance Based Restricted Stock Units [Member]

Schedule Of Share Based Compensation Arrangements By Share Based Paymen tAward [Line Items]

Summary of Share Based Payment Award Stock Options Valuation Assumptions

The assumptions used to estimate the fair value of PSUs subject to the stock price hurdle are as follows:

	Year Ended December 31,
	2023			2022
Risk-free interest rate		4.59	%		—	%
Contractual term (in years)		3.37			—
Expected volatility		80.00	%		—	%
Dividend yield		—	%		—	%