Stockholders' Equity (Tables)
|
12 Months Ended |
Dec. 31, 2020 |
|---|
| Equity [Abstract] |
|
| Schedule of Reserved Shares of Common Stock for Issuance |
At December 31, 2020, the Company had reserved shares of common stock for issuance as follows (in thousands):
|
|
|
As of December 31, 2020 |
|
|
Common stock awards granted under equity incentive plans |
|
|
13,088 |
|
|
Common stock awards available for issuance under the 2017 Employee Stock Purchase Plan * |
|
|
5,089 |
|
|
Common stock awards available for issuance under the 2017 Equity Incentive Plan |
|
|
21,420 |
|
|
Total reserved shares of common stock |
|
|
39,597 |
|
|
| Summary of Restricted Stock Unit Activity |
Restricted stock unit activity for the year ended December 31, 2020 is as follows (in thousands, except per share data):
|
|
|
Number of
Shares |
|
|
Weighted Average
Grant Date Fair
Value Per Share |
|
|
Balance, December 31, 2019 |
|
|
4,544 |
|
|
$ |
67.30 |
|
|
Awarded |
|
|
1,425 |
|
|
|
147.46 |
|
|
Released |
|
|
(1,253 |
) |
|
|
66.79 |
|
|
Forfeited |
|
|
(361 |
) |
|
|
76.55 |
|
|
Balance, December 31, 2020 - outstanding |
|
|
4,355 |
|
|
$ |
92.91 |
|
|
| Schedule of Stock Option Activity |
The following table summarizes the Company’s stock option activities under the 2008 Plan and 2017 Plan (in thousands, except per share data):
|
|
|
Number of
Shares |
|
|
Weighted
Average
Exercise
Price |
|
|
Weighted
Average
Remaining
Contractual
Life (Years) |
|
|
Weighted
Average
Grant Date
Fair Value
Per Share |
|
|
Aggregate
Intrinsic
Value |
|
|
Balance, December 31, 2019 |
|
|
11,124 |
|
|
$ |
14.84 |
|
|
|
6.2 |
|
|
|
— |
|
|
|
|
|
|
Granted |
|
|
599 |
|
|
|
145.17 |
|
|
|
— |
|
|
$ |
54.39 |
|
|
|
|
|
|
Exercised |
|
|
(2,854 |
) |
|
|
5.89 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
Forfeited and expired |
|
|
(136 |
) |
|
|
48.04 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
Balance, December 31, 2020 - outstanding |
|
|
8,733 |
|
|
$ |
26.19 |
|
|
|
5.7 |
|
|
|
— |
|
|
$ |
2,670,743 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options exercisable at December 31, 2020 |
|
|
6,144 |
|
|
$ |
8.00 |
|
|
|
4.8 |
|
|
|
— |
|
|
$ |
1,990,694 |
|
|
| Schedule of Share-based Compensation Expense |
The following table shows total stock-based compensation expense for the years ended December 31, 2020, 2019 and 2018 (in thousands):
|
|
|
Years Ended December 31, |
|
|
|
|
2020 |
|
|
2019 |
|
|
2018 |
|
|
Cost of platform revenue |
|
$ |
847 |
|
|
$ |
342 |
|
|
$ |
97 |
|
|
Cost of player revenue |
|
|
1,407 |
|
|
|
1,072 |
|
|
|
469 |
|
|
Research and development |
|
|
58,412 |
|
|
|
40,036 |
|
|
|
18,538 |
|
|
Sales and marketing |
|
|
42,846 |
|
|
|
24,179 |
|
|
|
10,459 |
|
|
General and administrative |
|
|
30,564 |
|
|
|
19,546 |
|
|
|
8,111 |
|
|
Total stock-based compensation |
|
$ |
134,076 |
|
|
$ |
85,175 |
|
|
$ |
37,674 |
|
|
| Summary of Assumptions Used to Value Stock Options Granted |
The assumptions used to value stock options granted during the years ended December 31, 2020, 2019 and 2018 are as follows:
|
|
|
Years Ended December 31, |
|
|
|
|
2020 |
|
|
2019 |
|
|
2018 |
|
|
Expected term (in years) |
|
5.0 - 6.7 |
|
|
5.0 - 6.7 |
|
|
5.3 - 6.8 |
|
|
Risk-free interest rate |
|
0.22 - 1.67% |
|
|
1.35 - 2.56% |
|
|
2.32 - 2.88% |
|
|
Expected volatility |
|
36 - 39% |
|
|
35 - 36% |
|
|
38 - 40% |
|
|
Dividend rate |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|