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Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 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			(632,803)						632,803						43.97
Exercised			—						(220,541)						23.67
Canceled			56,446						(56,446)						30.93
Restricted stock units granted			(2,598,915)						—						—
Restricted stock units canceled			873,684						—						—
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 September 30, 2025			13,136,133						4,987,566						$	34.65					6.7						$	158,068
Vested and Exercisable as of September 30, 2025									2,823,123						$	35.01					5.1						$	96,723

(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						2,598,915						43.27
Vested and released						(1,187,140)						36.67
Canceled						(873,684)						31.78
Balance as of September 30, 2025						7,558,342						$	33.42

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						47.85
Vested and released						(269,992)						69.33
Adjusted for performance achievement						144,972						19.29
Canceled						(178,807)						63.34
Balance as of September 30, 2025						1,268,235						$	26.86

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 September 30,												Nine Months Ended September 30,
						2025						2024						2025						2024
						(unaudited)
						(in thousands)
Cost of revenue						$	2,501					$	3,894					$	7,444					$	7,420
Research and development expense						13,478						18,643						39,788						38,413
Sales and marketing expense						11,185						13,215						32,458						27,633
General and administrative expense						15,644						14,017						43,337						30,579
Total stock-based compensation expense						$	42,808					$	49,769					$	123,027					$	104,045

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 September 30,												Nine Months Ended September 30,
						2025						2024						2025						2024
						(unaudited)
Expected term (in years)						5.79 - 6.10						5.81 - 6.09						5.50 - 6.10						5.50 - 6.09
Expected volatility						65.4% - 65.8%						68.7% - 69.2%						65.4% - 67.0%						67.8% - 69.4%
Risk-free interest rate						3.7% - 3.9%						3.8% - 4.1%						3.7% - 4.3%						3.8% - 4.5%
Expected dividend yield						—%						—%						—%						—%

The grant date fair value of the stock purchase rights granted under the ESPP for the nine months ended September 30, 2025 and 2024 was estimated using a Black-Scholes option-pricing model with the following assumptions:

						Nine Months Ended September 30,
						2025						2024
						(unaudited)
Expected term (in years)						0.50						0.50
Expected volatility						69.0%						64.2%
Risk-free interest rate						4.3%						5.4%
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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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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