v3.22.2
Stock-Based Compensation
 6 Months Ended
Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Stock-Based Compensation
Stock Options
The following table summarizes stock option activity for the six months ended June 30, 2022 (in thousands, except per share amounts):
Options Outstanding
Weighted-Average Exercise Price Per Share
Weighted-Average
Remaining Contractual Life (years)
Aggregate Intrinsic Value
Balance as of December 31, 2021349,952 $7.81 9.06$3,638,685 
Options exercised(11,434)4.16 — — 
Options canceled and forfeited(1,942)4.93 — — 
Balance as of June 30, 2022336,576 $7.95 8.74$750,129 
Options vested and exercisable as of June 30, 2022175,943 $5.46 7.68$676,872 
As of June 30, 2022, the total unrecognized stock-based compensation expense related to options outstanding was $799.2 million, which is expected to be recognized over a weighted-average service period of eight years.
RSUs
The following table summarizes the RSU activity for the six months ended June 30, 2022 (in thousands, except per share amounts):
RSUs OutstandingWeighted Average Grant Date Fair Value per Share
Balance as of December 31, 2021153,749 $9.56 
RSUs granted11,209 13.96 
RSUs vested and converted to shares(23,833)8.59 
RSUs canceled(4,415)9.07 
Balance as of June 30, 2022136,710 $10.11 
As of June 30, 2022, the total unrecognized stock-based compensation expense related to the RSUs outstanding was $826.7 million, which the Company expects to recognize over a weighted-average service period of three years.
Stock-based Compensation Expense
Total stock-based compensation expense was as follows (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2022202120222021
Cost of revenue$11,211 $24,029 $22,888 $40,006 
Sales and marketing49,405 72,008 98,677 129,294 
Research and development24,978 50,630 51,883 88,504 
General and administrative60,175 86,075 121,644 168,669 
Total stock-based compensation expense$145,769 $232,742 $295,092 $426,473