Stockholders' Equity (Tables)
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3 Months Ended |
Mar. 31, 2025 |
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| Stockholders' Equity Note [Abstract] |
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| Common Stock Reserved for Future Issuance |
The Company has reserved the following shares of common stock for future issuance:
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March 31, 2025 |
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December 31, 2024 |
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2014 Stock Plan: |
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Options outstanding |
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20,731,602 |
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23,142,966 |
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Restricted stock units outstanding |
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123,675 |
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277,960 |
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2021 Equity Incentive Plan: |
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Options outstanding |
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22,500 |
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22,500 |
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Restricted stock units outstanding |
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25,953,132 |
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|
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20,277,922 |
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Remaining shares available for future issuance |
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51,729,059 |
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|
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44,279,867 |
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2021 Employee Stock Purchase Plan |
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12,708,562 |
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|
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10,139,193 |
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Total |
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111,268,530 |
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98,140,408 |
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| Summary of Stock Equity Award Activity |
The following table summarizes stock equity award activity and activity regarding shares available for grant under the 2014 Plan and the 2021 Plan:
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Equity Awards Outstanding |
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Shares Available for Grant |
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Outstanding
Stock Options |
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Weighted-Average
Exercise Price |
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Weighted-Average Remaining Contractual Term
(in years) |
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Aggregate Intrinsic Value
(in thousands) |
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Balance as of January 1, 2025 |
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44,279,867 |
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23,165,466 |
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$ |
7.97 |
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4.95 |
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$ |
463,750 |
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Increase in authorized shares |
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16,644,267 |
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- |
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$ |
- |
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Stock options exercised |
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- |
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(2,401,202 |
) |
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$ |
6.64 |
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Stock options forfeited or expired |
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10,162 |
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(10,162 |
) |
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$ |
18.30 |
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RSUs granted |
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(10,274,663 |
) |
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- |
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$ |
- |
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RSUs forfeited or cancelled |
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1,069,426 |
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- |
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$ |
- |
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Balance as of March 31, 2025 |
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51,729,059 |
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20,754,102 |
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$ |
8.12 |
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4.73 |
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$ |
318,749 |
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Vested as of March 31, 2025 |
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20,530,854 |
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$ |
8.14 |
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4.75 |
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$ |
314,837 |
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Vested and expected to vest as of March 31, 2025 |
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20,754,102 |
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$ |
8.12 |
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4.73 |
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$ |
318,749 |
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| Schedule of Restricted Stock Unit Activity |
The following table summarizes RSU activity under the 2014 Plan and the 2021 Plan:
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RSUs Outstanding |
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Number of Shares |
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Weighted-Average
Grant Date
Fair Value |
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Unvested balance as of January 1, 2025 |
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20,555,882 |
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$ |
26.97 |
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RSUs granted |
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|
10,274,663 |
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$ |
26.64 |
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RSUs vested |
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(3,684,312 |
) |
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$ |
27.64 |
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RSUs forfeited or cancelled |
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(1,069,426 |
) |
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$ |
29.03 |
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Unvested balance as of March 31, 2025 |
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26,076,807 |
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$ |
26.66 |
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| Summary of Stock-Based Compensation Expense |
Total stock-based compensation expense was as follows (in thousands):
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Three Months Ended March 31, |
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2025 |
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2024 |
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Cost of revenue - subscription |
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$ |
5,990 |
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$ |
6,243 |
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Cost of revenue - services |
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1,748 |
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2,573 |
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Research and development |
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40,794 |
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38,894 |
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Sales and marketing |
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30,487 |
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33,158 |
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General and administrative |
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13,556 |
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14,454 |
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Stock-based compensation, net of amounts capitalized |
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$ |
92,575 |
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$ |
95,322 |
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Capitalized stock-based compensation |
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3,342 |
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|
5,597 |
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Total stock-based compensation |
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$ |
95,917 |
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$ |
100,919 |
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