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Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Stock-Based Compensation Expense

Stock-based compensation expense is as follows (in thousands):

			Three Months Ended March 31,
			2025						2024
Cost of revenue			$	9,112					$	16,806
Research and development			50,594						87,738
Sales and marketing			19,961						63,971
General and administrative			19,123						97,362
Total stock-based compensation expense			$	98,790					$	265,877

Schedule of Stock Option Activity

A summary of our stock option, including price-vested options ("PVO"), activity is as follows:

			Options Outstanding
			Stock Options Outstanding						Weighted-Average Exercise Price						Weighted-Average Remaining Contractual Term (In Years)
Balance as of December 31, 2024			23,158,212						$	21.10					4.24
Granted			206,244						$	24.72
Exercised			(2,272,956)						$	5.19
Forfeited, cancelled, or expired			(599,984)						$	57.66
Balance as of March 31, 2025			20,491,516						$	21.83					4.36

Schedule of Restricted Stock Unit Activity

A summary of our restricted stock unit ("RSU"), including price-vested unit ("PVU"), and performance-based restricted stock unit ("PSU"), activity is as follows:

			Unvested RSUs
			Number of Shares						Weighted-Average Grant-Date Fair Value
Unvested as of December 31, 2024			30,013,275						$	26.03
Granted			4,486,262						$	24.45
Vested			(2,964,091)						$	31.28
Forfeited			(2,754,164)						$	22.79
Unvested as of March 31, 2025			28,781,282						$	25.55

Schedule of Grant-Date Fair Value of Stock Options Granted

The calculated grant-date fair value of stock options, PVUs, and PVOs granted, were estimated using the Black-Scholes option-pricing model for stock options, and a Monte Carlo stimulation for the PVUs and PVOs, with the following assumptions:

												Three Months Ended March 31,
												2025						2024
Expected dividend yield												—						—
Risk-free interest rate												4.1%						4.1%
Expected volatility												69.5%						66.4%
Expected term (in years)												6.25						6.25
Fair value of underlying common stock												$24.72						$26.89

Schedule of Grant-Date Fair Values of ESPP

The following table summarizes the assumptions used and the resulting grant-date fair values of our ESPP:

			Three Months Ended March 31,
			2025						2024
Expected dividend yield			—						—
Risk-free interest rate			4.3%						5.3%
Expected volatility			73.4%						56.0%
Expected term (in years)			0.50						0.50
Grant-date fair value per share			$9.26						$9.11

Schedule of Additional Information Related to ESPP

Additional information related to the ESPP is provided below (in thousands, except per share amounts):

			Three Months Ended March 31,
			2025						2024
Shares issued under the ESPP			693,873						551,146
Weighted-average price per share issued			$14.19						$24.92

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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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