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STOCK-BASED COMPENSATION | 9 Months Ended
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Sep. 30, 2023
Share-Based Payment Arrangement [Abstract] |
STOCK-BASED COMPENSATION | NOTE 12. STOCK-BASED COMPENSATION Expense
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(in thousands) | 2023 |  | 2022 |  | 2023 |  | 2022
Cost of revenue | $ | 6,410 |  |  | $ | 6,797 |  |  | $ | 22,497 |  |  | $ | 19,754 |
Selling and marketing | 10,401 |  |  | 12,933 |  |  | 43,410 |  |  | 36,524 |
Research and development | 7,375 |  |  | 7,724 |  |  | 24,286 |  |  | 22,425 |
General and administrative | 7,113 |  |  | 6,320 |  |  | 19,890 |  |  | 14,598 |
| $ | 31,299 |  |  | $ | 33,774 |  |  | $ | 110,083 |  |  | $ | 93,301 |
Income tax benefit | $ | (316) |  |  | $ | (600) |  |  | $ | (1,569) |  |  | $ | (1,505) |
As of September 30, 2023, the Company had $137.5 million of unrecognized stock-based compensation expense, net of estimated forfeitures, which is expected to be recognized over a weighted-average period of 1.8 years. Grants
| Nine Months Ended September 30, 2023
(in thousands) | Shares |  | Total Fair Value
Restricted stock units | 1,514 |  |  | $ | 70,962 |
Non-qualified stock options | 911 |  |  | $ | 19,142 |
Performance stock options (1) | 906 |  |  | $ | 18,265 |
Common stock | 13 |  |  | $ | 600 |
(1) Performance stock options allow the holder to purchase a specified number of common stock shares at an exercise price equal to or greater than the shares' fair market value at the grant date. The options usually vest over two years and expire ten years from the grant date, subject to specific performance conditions.

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