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Stock-based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock-based Awards | The following table summarizes the stock options activity under the 2010 Plan and 2019 Plan during the periods presented:
| Stock Options Outstanding
| (in thousands, except year and per share data)
| Shares Subject to Options Outstanding |  | Weighted- Average Exercise Price per Option |  | Weighted- Average Remaining Contractual Terms (in years) |  | Aggregate Intrinsic Value
Balances as of December 31, 2021 | 13,603 |  |  | $ | 12.47 |  |  | 6.0 |  | $ | 1,726,440 |
Options granted | 5,733 |  |  | $ | 97.71 |  |  |  |  |
Options exercised | (2,484) |  |  | $ | 4.08 |  |  |  |  | $ | 180,990 |
Options canceled/forfeited/expired | (966) |  |  | $ | 74.88 |  |  |  |  |
Balances as of December 31, 2022 | 15,886 |  |  | $ | 34.21 |  |  | 6.3 |  | $ | 451,782 |
Options granted | 1,290 |  |  | $ | 51.21 |  |  |  |  |
Options exercised | (2,989) |  |  | $ | 4.96 |  |  |  |  | $ | 171,225 |
Options canceled/forfeited/expired | (1,664) |  |  | $ | 62.62 |  |  |  |  |
Balances as of December 31, 2023 | 12,523 |  |  | $ | 21.03 |  |  | 5.7 |  | $ | 787,633 |
Options granted | 625 |  |  | $ | 81.45 |  |  |  |  |
Options exercised | (2,984) |  |  | $ | 4.33 |  |  |  |  | $ | 257,941 |
Options canceled/forfeited/expired | (1,317) |  |  | $ | 48.00 |  |  |  |  |
Balances as of December 31, 2024 | 8,847 |  |  | $ | 26.91 |  |  | 5.1 |  | $ | 720,364 |
Vested and expected to vest as of December 31, 2024 | 8,847 |  |  | $ | 26.91 |  |  | 5.1 |  | $ | 720,364 |
Exercisable as of December 31, 2024 | 4,891 |  |  | $ | 7.56 |  |  | 3.0 |  | $ | 495,491 |
Schedule of Assumptions Used to Determine the Fair Value of Stock Options Granted | The weighted-average assumptions used to determine the fair value of the Performance Options during the periods presented were as follows:
| Year ended December 31,
| 2024 |  | 2023 |  | 2022
Expected term (in years) | 10.0 |  | 10.0 |  | 9.8
Expected volatility | 60.6 | % |  | 63.7 | % |  | 59.5 | %
Risk-free interest rate | 4.2 | % |  | 3.9 | % |  | 3.0 | %
Dividend yield | — |  |  | — |  |  | — |
Schedule of Restricted Stock Units Activity | RSU and PSU activity under the 2019 Plan and the 2010 Plan for the year ended December 31, 2024 was as follows:
| Restricted Stock, RSUs, and PSUs* |  | Weighted-Average Grant Date Fair Value
| (in thousands, except per share data)
Unvested and outstanding as of December 31, 2021 | 7,456 |  |  | $ | 47.36 |
Granted - RSUs | 6,367 |  |  | $ | 67.13 |
Granted - Restricted stock | 52 |  |  | $ | 100.29 |
Vested - RSUs | (2,848) |  |  | $ | 38.49 |
Vested - Restricted stock | (668) |  |  | $ | 19.96 |
Forfeited | (779) |  |  | $ | 64.83 |
Unvested as of December 31, 2022 | 9,580 |  |  | $ | 61.64 |
Vested and not yet released | — |  |  | $ | — |
Outstanding as of December 31, 2022 | 9,580 |  |  | $ | 61.14 |
Granted - RSUs | 6,428 |  |  | $ | 62.24 |
Vested - RSUs | (3,689) |  |  | $ | 56.75 |
Forfeited - RSUs | (1,161) |  |  | $ | 65.87 |
Unvested as of December 31, 2023* | 10,894 |  |  | $ | 65.93 |
Vested and not yet released* | — |  |  | $ | — |
Outstanding as of December 31, 2023* | 10,894 |  |  | $ | 65.93 |
Granted - RSUs and PSUs | 7,460 |  |  | $ | 89.17 |
Vested - RSUs | (4,226) |  |  | $ | 69.43 |
Forfeited - RSUs | (2,267) |  |  | $ | 65.56 |
Unvested as of December 31, 2024* | 11,861 |  |  | $ | 79.37 |
Vested and not yet released* | 18 |  |  | $ | 57.66 |
Outstanding as of December 31, 2024* | 11,879 |  |  | $ | 79.34 |
*Restricted stock did not have a material impact on the Company’s consolidated financial statements for the fiscal years ended December 31, 2024 or 2023. Effective January 1, 2023, this table discloses RSU and PSU activity only.
Schedule of Fair Value Assumptions for Employee Stock Purchase Plan | The weighted-average assumptions used to determine the fair value of the ESPP during the periods presented were as follows:
| Year ended December 31,
| 2024 |  | 2023 |  | 2022
Expected term (in years) | 0.5 |  | 0.5 |  | 0.5
Risk-free interest rate | 4.9 | % |  | 5.2 | % |  | 3.3 | %
Expected volatility | 46.7 | % |  | 68.9 | % |  | 100.6 | %
Dividend yield | — |  |  | — |  |  | — |
Schedule of Stock-based Compensation Expense | The following table sets forth the total stock-based compensation expense included in the Company’s consolidated statements of operations:
| Year Ended December 31, |  |
| 2024 |  | 2023 |  | 2022 |  |
| (in thousands) |  |
Cost of revenue | $ | 10,911 |  |  | $ | 7,967 |  |  | $ | 6,251 |  |  |
Sales and marketing | 91,464 |  |  | 73,682 |  |  | 50,317 |  |  |
Research and development | 143,589 |  |  | 132,417 |  |  | 103,276 |  |  |
General and administrative | 92,497 |  |  | 59,923 |  |  | 42,933 |  |  |
Total stock-based compensation expense | $ | 338,461 |  |  | $ | 273,989 |  |  | $ | 202,777 |  |  |

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