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Stockholders' Equity and Equity Incentive Plans (Tables)

3 Months Ended

Mar. 31, 2025

Schedule of Reserved Shares of Common Stock

The Company has reserved shares of its common stock as follows:


	As of March 31, 2025		As of December 31, 2024

2014 Stock Option and Grant Plan and 2021 Incentive Award Plan:
Equity plan stock options outstanding		10,955,172		11,501,725
RSUs outstanding		12,526,884		13,519,769
Shares available for future issuance		24,641,128		18,310,859
2021 Employee Stock Purchase Plan:
Shares available for future issuance		6,102,408		4,810,524
Total reserved shares		54,225,592		48,142,877

Summary of Stock Option Activity

Option activity under the combined stock plans for the three months ended March 31, 2025 is set forth below:


						Weighted
				Weighted		average		Aggregate
	Outstanding			average		remaining		intrinsic
	stock			exercise		contractual		value
	options			price		life (years)		(in thousands)
Balances as of December 31, 2024		11,501,725		$	4.41		5.25	$	70,628
Granted		—			—
Exercised		(533,869	)		2.85
Cancelled/forfeited		(12,684	)		4.52
Balances as of March 31, 2025(1)		10,955,172		$	4.48		5.03	$	62,501
Exercisable as of March 31, 2025		10,619,531		$	4.17		4.96	$	63,929

(1)

As no forfeitures are estimated due to the Company’s adoption of ASU No. 2016-09, all options are vested or expected to vest. As of March 31, 2025, no options were outstanding that were subject to a future performance condition.

Schedule of RSU Activity

RSU activity during the three months ended March 31, 2025 was as follows:


	Restricted stock units			Weighted-average grant date fair value per share
Balance as of December 31, 2024		13,519,769		$	11.02
Granted		1,444,911			11.46
Vested		(1,804,908	)		12.32
Cancelled/forfeited		(632,888	)		11.20
Balance as of March 31, 2025		12,526,884		$	10.88

Schedule of Stock-based Compensation Expense

Stock-based compensation expense, net of actual forfeitures is reflected in the condensed consolidated statements of operations and comprehensive loss (in thousands):


	Three Months Ended March 31,
	2025		2024

Cost of revenue	$	1,267	$	1,474
Research and development		7,506		8,914
Sales and marketing		7,819		6,871
General and administrative		4,005		3,805
Total stock-based compensation expense	$	20,597	$	21,064