v3.25.2
Stockholders’ Equity (Tables)
 6 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Shares and Warrants Reserved for Issuance Shares of common stock reserved for issuance, on an as-converted basis, are as follows:
December 31, 2024June 30, 2025
Options issued and outstanding10,709,898 9,839,891 
Restricted stock units outstanding3,703,631 3,152,602 
Shares available for future issuance under 2020 plan7,669,374 11,290,010 
Shares available for issuance under employee stock purchase plan3,425,952 4,209,172 
Total25,508,855 28,491,675 
Schedule of Stock Option Activity
The following table summarizes stock option activity for the six months ended June 30, 2025:
Number of OptionsWeighted-Average Exercise Price Per ShareWeighted-Average Remaining Contractual Life (years)Aggregate
Intrinsic
Value
Balances at December 31, 202410,709,898 $18.35 5.9$495,359 
Options granted772,255 66.31 
Options exercised(944,442)10.45 
Options cancelled and forfeited(697,820)25.63 
Balances at June 30, 20259,839,891 22.36 5.7447,475 
Options exercisable – June 30, 20257,216,142 17.98 4.7364,781 
Options vested and expected to vest – June 30, 20259,821,829 $22.30 5.7$447,179 
Schedule of Restricted Stock Units and Restricted Stock The following table summarizes RSU activity for the six months ended June 30, 2025:
Number of SharesWeighted-Average Grant Date Fair Value Per Share
Unvested at December 31, 20243,703,631$33.46 
RSUs granted1,511,24864.17 
RSUs vested(1,526,427)37.96 
RSUs cancelled and forfeited(535,850)32.75 
Unvested at June 30, 20253,152,602$46.12 
Schedule of Stock Options Fair Value Assumptions
The following assumptions were used to estimate the fair value of options granted:

Three Months Ended June 30,Six Months Ended June 30,
2024202520242025
Expected term (in years)*
5.3
5.3 – 7.0
5.2 – 7.0
Expected volatility*
53.68% - 53.71%
50.32% – 53.38%
50.66% – 53.71%
Risk-free interest rate*
3.72%
4.21% – 4.27%
3.72% – 4.09%
Dividend yield*—%—%—%
_________
* No options were granted during the three months ended June 30, 2024.
Schedule of Employee Stock Purchase Plan Fair Value Assumptions
The following assumptions were used to estimate the fair value of ESPP purchase rights:
Three Months Ended June 30,Six Months Ended June 30,
2024202520242025
Expected term (in years)**0.50.5
Expected volatility**96.69%99.09%
Risk-free interest rate**5.30%4.34%
Dividend yield**—%—%

_________
* No ESPP purchase rights were granted during the three months ended June 30, 2024 and 2025.
Schedule of Stock-based Compensation Expense
The Company recorded stock-based compensation in the following expense categories in its condensed consolidated statements of operations and comprehensive income (loss) for employees and non-employees:
Three Months Ended June 30,Six Months Ended June 30,
2024202520242025
Sales and marketing$3,078 $3,606 $6,056 $6,309 
Customer operations2,120 2,025 4,083 3,671 
Engineering and product development17,917 17,698 37,127 32,250 
General, administrative, and other11,094 12,182 22,720 23,112 
Total$34,209 $35,511 $69,986 $65,342