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Stock-Based Compensation (Tables) | 3 Months Ended
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Mar. 31, 2025
Schedule Of Share Based Compensation Arrangements By Share Based Paymen tAward [Line Items] |
Summary of the Stock Option Activity | The stock option activity is summarized in the following table:
|  | Number of Option Shares |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Term (Years) |  |  | Aggregate Intrinsic Value (in millions) |
Outstanding as of December 31, 2024 |  |  | 16,687,129 |  |  | $ | 2.40 |  |  |  |  |  |  |
Exercised |  |  | (2,822,394 | ) |  |  | 0.43 |  |  |  |  |  |  |
Cancelled/ Forfeited |  |  | (410,638 | ) |  |  | 2.58 |  |  |  |  |  |  |
Outstanding as of March 31, 2025 |  |  | 13,454,097 |  |  | $ | 2.81 |  |  |  | 5.35 |  |  | $ | 259.16 |
Exercisable as of March 31, 2025 |  |  | 11,380,024 |  |  | $ | 2.31 |  |  |  | 5.08 |  |  | $ | 224.83 |
Exercisable and expected to vest as of March 31, 2025 |  |  | 13,454,097 |  |  | $ | 2.81 |  |  |  | 5.35 |  |  | $ | 259.16 |
Summary of restricted stock unit ("RSU") activity | The RSU activity is summarized in the following table:
|  | Number of RSUs |  |  | Weighted Average Grant Date Fair Value |  |  | Weighted Average Remaining Contractual Term (Years) |
Outstanding as of December 31, 2024 |  |  | 14,509,717 |  |  | $ | 9.54 |  |  |  |
Granted |  |  | 2,447,244 |  |  |  | 32.01 |  |  |  |
Vested |  |  | (1,771,714 | ) |  |  | 12.68 |  |  |  |
Forfeited |  |  | (420,752 | ) |  |  | 9.62 |  |  |  |
Outstanding as of March 31, 2025 |  |  | 14,764,495 |  |  | $ | 12.87 |  |  |  | 2.51 |
Expected to vest after March 31, 2025 |  |  | 14,743,995 |  |  | $ | 12.87 |  |  |  | 2.51 |
Summary of Performance Share Unit ("PSU") Activity Based on Awards at Target | The PSU activity is summarized in the following table, based on awards at target:
|  | Number of PSUs |  |  | Weighted Average Grant Date Fair Value |  |  | Weighted Average Remaining Contractual Term (Years) |
Outstanding as of December 31, 2024 |  |  | 3,972,257 |  |  | $ | 16.17 |  |  |  |
Granted |  |  | 965,630 |  |  |  | 30.73 |  |  |  |
Vested |  |  | (60,175 | ) |  |  | 18.03 |  |  |  |
Forfeited |  |  | (73,548 | ) |  |  | 18.03 |  |  |  |
Outstanding as of March 31, 2025 |  |  | 4,804,164 |  |  | $ | 19.05 |  |  |  | 2.11 |
Expected to vest after March 31, 2025(1) |  |  | 10,544,490 |  |  | $ | 16.39 |  |  |  | 2.11 |
(1) Represents the number of PSUs expected to vest, which may exceed the target number of shares, based on the Company's probability assessment of expected performance during the performance period.
Summary of Stock-based Compensation Expenses for Stock Options and Unvested Common Stock |
|  | Three Months Ended March 31, |
|  | 2025 |  |  | 2024 |
Cost of revenue |  | $ | 1,063 |  |  | $ | 1,005 |
Research and development |  |  | 17,392 |  |  |  | 12,366 |
Sales and marketing |  |  | 4,356 |  |  |  | 2,775 |
General and administrative |  |  | 10,442 |  |  |  | 5,915 |
Stock-based compensation, net of amounts capitalized |  |  | 33,253 |  |  |  | 22,061 |
Capitalized stock-based compensation—Property and equipment, net and Intangible assets, net |  |  | 913 |  |  |  | 1,598 |
Total stock-based compensation |  | $ | 34,166 |  |  | $ | 23,659 |
Summary of Unrecognized Stock-Based Compensation | March 31, 2025, related to its non-vested RSUs, PSUs, and stock option awards is presented below (in millions, except time period amounts):
Performance Based Restricted Stock Units [Member] |
Schedule Of Share Based Compensation Arrangements By Share Based Paymen tAward [Line Items] |
Summary of Share Based Payment Award Stock Options Valuation Assumptions | The assumptions used to estimate the fair value of PSUs subject to the stock price hurdle are as follows:
|  | Three Months Ended March 31, |
|  | 2025 |  |  | 2024 |
Risk-free interest rate |  |  | 4.28 | % |  |  | — | %
Contractual term (in years) |  |  | 1.94 |  |  |  | — |
Expected volatility |  |  | 112.50 | % |  |  | — | %
Dividend yield |  |  | — | % |  |  | — | %

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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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