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Stock-Based Compensation (Tables) | 6 Months Ended
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Jun. 30, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock-Based Compensation Expense | Total stock‑based compensation expense consists of the following:
| Three Months Ended |  | Six Months Ended
| June 30, |  | June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Restricted stock and RSUs expense | $ | 15,987 |  |  | $ | 13,530 |  |  | $ | 29,677 |  |  | $ | 27,453 |
Bonus Plan expense (see Note 11) | 4,879 |  |  | 3,336 |  |  | 10,180 |  |  | 7,882 |
ESPP expense (see Note 13) | 591 |  |  | 600 |  |  | 1,215 |  |  | 1,175 |
Stock grants expense | 600 |  |  | 600 |  |  | 600 |  |  | 600 |
Stock option expense | — |  |  | — |  |  | — |  |  | 343 |
DCP elective participant deferrals expense (1) (see Note 12) | 44 |  |  | 38 |  |  | 87 |  |  | 135 |
Total stock-based compensation expense (2) | $ | 22,101 |  |  | $ | 18,104 |  |  | $ | 41,759 |  |  | $ | 37,588 |
(1)DCP elective participant deferrals expense excludes deferred incentive bonus payable pursuant to the Bonus Plan. (2)As of June 30, 2024 and December 31, 2023, $5,372 and $4,043 remained in Accruals and other current liabilities in the consolidated balance sheets, respectively. Total stock‑based compensation expense (income) is included in the consolidated statements of operations as follows:
| Three Months Ended |  | Six Months Ended
| June 30, |  | June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Cost of subscriptions and licenses | $ | (732) |  |  | $ | 1,132 |  |  | $ | 362 |  |  | $ | 2,166 |
Cost of services | 756 |  |  | 707 |  |  | 1,638 |  |  | 1,714 |
Research and development | 5,082 |  |  | 4,424 |  |  | 9,963 |  |  | 9,710 |
Selling and marketing | 3,542 |  |  | 2,943 |  |  | 6,320 |  |  | 5,813 |
General and administrative | 13,453 |  |  | 8,898 |  |  | 23,476 |  |  | 18,185 |
Total stock-based compensation expense | $ | 22,101 |  |  | $ | 18,104 |  |  | $ | 41,759 |  |  | $ | 37,588 |
Schedule of Restricted Stock and Restricted Stock Unit Activity | The following is a summary of unvested restricted stock and RSU activity and related information under the Company’s applicable equity incentive plans:
|  |  |  |  |  |  | Time- |  | Performance-
|  |  |  |  |  |  | Based |  | Based
|  |  | Time- |  |  |  | Weighted |  | Weighted
| Total |  | Based |  |  |  | Average |  | Average
| Restricted |  | Restricted |  | Performance- |  | Grant Date |  | Grant Date
| Stock |  | Stock |  | Based |  | Fair Value |  | Fair Value
| and RSUs |  | and RSUs |  | RSUs |  | Per Share |  | Per Share
Unvested, December 31, 2023 | 3,303,849 |  |  | 2,938,208 |  | (3) | 365,641 |  | (5) | $ | 39.87 |  |  | $ | 39.21 |
Granted | 1,191,104 |  | (1) | 984,192 |  | (4) | 206,912 |  | (6) | 50.90 |  |  | 49.49 |
Vested | (754,222) |  |  | (572,432) |  |  | (181,790) |  |  | 43.29 |  |  | 39.15 |
Forfeited and canceled | (195,712) |  |  | (161,116) |  |  | (34,596) |  |  | 38.05 |  |  | 42.38 |
Unvested, June 30, 2024 | 3,545,019 |  | (2) | 3,188,852 |  |  | 356,167 |  |  | $ | 42.75 |  |  | $ | 44.90 |
(1)For the six months ended June 30, 2024, the Company only granted RSUs. (2)Includes 47,710 RSUs which are expected to be settled in cash. (3)Includes 199,076 time‑based RSUs granted during the three months ended March 31, 2022 to certain officers and key employees, which cliff vest on January 31, 2025. (4)Includes 300,964 time‑based RSUs granted during the three months ended June 30, 2024 to certain officers, which vest 20% on each of December 15, 2025, 2026, 2027, 2028, and 2029. (5)Primarily relates to the 2023 annual performance period. Includes 185,186 performance‑based RSUs granted during the year ended December 31, 2022 with extraordinary terms, which are described below. (6)Primarily relates to the 2024 annual performance period. Includes 1,335 additional shares earned based on the achievement of 2023 performance goals for performance-based RSUs granted during the year ended December 31, 2023.
Schedule of Options | The following is a summary of stock option activity and related information under the Company’s applicable equity incentive plans:
|  |  | Weighted |  |  |  |
|  |  | Average |  |  |  |
| Stock |  | Exercise Price |  |  |  |
| Options |  | Per Share |  |  |  |
Outstanding, December 31, 2023 | 916,429 |  |  | $ | 5.74 |  |  |  |  |
Exercised | (911,429) |  |  | 5.74 |  |  |  |  |
Forfeited and expired | (5,000) |  |  | 5.74 |  |  |  |  |
Outstanding, June 30, 2024 | — |  |  | $ | — |  |  |  |  |

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