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Stock-Based Compensation (Tables)
 6 Months Ended
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 EndedSix Months Ended
June 30,June 30,
2024202320242023
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 expense600 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 $4,043 remained in Accruals and other current liabilities in the consolidated balance sheets, respectively.
Total stock‑based compensation expense (income) is included in the consolidated statements of operations as follows:
Three Months EndedSix Months Ended
June 30,June 30,
2024202320242023
Cost of subscriptions and licenses$(732)$1,132 $362 $2,166 
Cost of services756 707 1,638 1,714 
Research and development5,082 4,424 9,963 9,710 
Selling and marketing3,542 2,943 6,320 5,813 
General and administrative13,453 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-
BasedBased
Time-WeightedWeighted
TotalBasedAverageAverage
RestrictedRestrictedPerformance-Grant DateGrant Date
StockStockBasedFair ValueFair Value
and RSUsand RSUsRSUsPer SharePer Share
Unvested, December 31, 20233,303,849 2,938,208 
(3)
365,641 
(5)
$39.87 $39.21 
Granted1,191,104 
(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, 20243,545,019 
(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
StockExercise Price
OptionsPer Share
Outstanding, December 31, 2023916,429 $5.74 
Exercised(911,429)5.74 
Forfeited and expired(5,000)5.74 
Outstanding, June 30, 2024— $—