Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

The following table summarizes stock option activity for the year ended December 31, 2023 (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, 2022	326,913	$	8.05	8.33	$	272,603
Options exercised	(46,079)	4.74
Options canceled and forfeited	(2,364)	5.39
Balance as of December 31, 2023	278,470	$	8.62	7.64	$	2,381,172
Options vested and exercisable as of December 31, 2023	160,877	$	6.66	6.93	$	1,691,404

The following table summarizes the RSU and P-RSU activity for the year ended December 31, 2023 (in thousands, except per share amounts):


	RSUs			P-RSUs
	Units Outstanding	Weighted Average Grant Date Fair Value per Share		Units Outstanding	Weighted Average Grant Date Fair Value per Share
Unvested and outstanding as of December 31, 2022	126,426	$	10.07	—	$	—
Granted	19,484	11.77		1,976	15.39
Vested	(54,974)	9.57		—	—
Canceled	(8,674)	11.08		—	—

Unvested and outstanding as of December 31, 2023	82,262	$	10.71	1,976	$	15.39

Total stock-based compensation expense was as follows (in thousands):


	Years Ended December 31,
	2023		2022		2021
Cost of revenue	$	35,995	$	44,061	$	68,546
Sales and marketing	160,645		196,301		242,910
Research and development	98,064		93,871		150,298
General and administrative	181,199		230,565		316,461
Total stock-based compensation expense	$	475,903	$	564,798	$	778,215