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Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Share-based Compensation, Stock Options, Activity

A summary of the Company’s stock option activity and related information is as follows:

									Options Outstanding
			Shares Available for Grant						Shares Subject to Options Outstanding						Weighted-Average Exercise Price						Weighted-Average Remaining Contractual Life (Years)						Aggregate Intrinsic Value
			(unaudited)
																											(in thousands)
Balance as of January 1, 2025			11,996,264						4,631,750						$	32.98					7.1						$	35,980
2018 Plan annual increase(1)			3,689,000						—
Granted			(524,770)						524,770						43.07
Exercised			—						(44,121)						17.39
Canceled			—						—						—
Restricted stock units granted			(2,101,246)						—						—
Restricted stock units canceled			372,571						—						—
Performance-based restricted stock units granted			(281,378)						—						—
Performance-based restricted stock units adjusted for performance achievement			(144,972)						—						—
Performance-based restricted stock units canceled			178,807						—						—
Balance as of March 31, 2025			13,184,276						5,112,399						$	34.15					7.2						$	75,088
Vested and Exercisable as of March 31, 2025									2,583,531						$	34.40					5.2						$	49,952

(1)Effective as of January 1, 2025, an additional 3,689,000 shares of common stock became available for issuance under the 2018 Plan, as a result of the operation of an automatic annual increase provision therein.

Schedule of Restricted Stock Activity

A summary of the Company’s restricted stock unit activity excluding the performance-based restricted stock units and related information is as follows:

						Restricted Stock Units Outstanding						Weighted-Average Grant Date Fair Value
						(unaudited)
Balance as of January 1, 2025						7,020,251						$	30.11
Granted						2,101,246						43.06
Vested and released						(318,900)						30.31
Canceled						(372,571)						30.01
Balance as of March 31, 2025						8,430,026						$	33.34

A summary of the Company’s PSU activity and related information is as follows:

						Performance-based Restricted Stock Units Outstanding						Weighted-Average Grant Date Fair Value
						(unaudited)
Balance as of January 1, 2025						1,290,684						$	37.07
Granted						281,378						43.10
Vested and released						(266,490)						69.81
Adjusted for performance achievement						144,972						19.29
Canceled						(178,807)						63.34
Balance as of March 31, 2025						1,271,737						$	25.69

Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan

The following table presents the effect of employee and non-employee related stock-based compensation expense:

						Three Months Ended March 31,
						2025						2024
						(unaudited)
						(in thousands)
Cost of revenue						$	2,286					$	1,756
Research and development expense						12,527						9,932
Sales and marketing expense						9,831						7,256
General and administrative expense						13,113						8,097
Total stock-based compensation expense						$	37,757					$	27,041

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The grant date fair value of stock options was estimated using a Black-Scholes option-pricing model with the following weighted-average assumptions:

						Three Months Ended March 31,
						2025						2024
						(unaudited)
Expected term (in years)						5.80 - 5.90						5.72
Expected volatility						65.7% - 66.1%						69.3%
Risk-free interest rate						4.2% - 4.3%						4.3%
Expected dividend yield						—%						—%

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Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

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-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
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Tabular disclosure of the changes in outstanding nonvested restricted stock units.

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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.

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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.

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