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Stockholders Equity (Tables) | 9 Months Ended
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Sep. 30, 2024
Equity [Abstract] |
Schedule of Share-based Payment Arrangement, Option, Activity | The following table summarizes the option award activity for the nine months ended September 30, 2024 (in thousands, except share price, fair value and term):
| Number of Options |  | Weighted- Average Exercise Price |  | Weighted- Average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value (in thousands)
| Total |  | Service based |  | Performance- based |  |  |
Outstanding at December 31, 2023 | 17,004 |  |  | 11,278 |  |  | 5,726 |  |  | $ | 17.27 |  |  | 5.59 |  | $ | 189,134 |
Exercised | (3,851) |  |  | (3,050) |  |  | (801) |  |  | $ | 16.40 |  |  |  |  |
Forfeited or expired | (268) |  |  | (32) |  |  | (236) |  |  | $ | 19.16 |  |  |  |  |
Outstanding at September 30, 2024 | 12,885 |  |  | 8,196 |  |  | 4,689 |  |  | $ | 17.48 |  |  | 4.99 |  | $ | 100,602 |
Schedule of Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity | The following table summarizes RSU and PSU activity and related information during the nine months ended September 30, 2024 under the 2021 Plan (in thousands, except share price):
| Number of Shares |  | Weighted-Average Grant Date Fair Value
Unvested and outstanding as of December 31, 2023 | 21,063 |  |  | $ | 20.81 |
Granted | 4,987 |  |  | 31.48 |
Vested | (8,334) |  |  | 21.63 |
Forfeited | (1,403) |  |  | 21.81 |
Unvested and outstanding as of September 30, 2024 | 16,313 |  |  | $ | 23.57 |
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions | The following table summarizes the weighted-average assumptions used in estimating the fair value of the ESPP for the offering periods during the nine months ended September 30, 2024 and 2023 using the Black-Scholes pricing model:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
ESPP: |  |  |  |  |  |  |
Expected term (in years) | 0.5 - 1.0 |  | 0.5 - 1.0 |  | 0.5 - 1.0 |  | 0.5 - 1.0
Expected volatility | 32.5% - 38.5% |  | 36.2% - 39.4% |  | 32.5% - 43.5% |  | 36.2% - 48.5%
Risk-free interest rate | 4.4% - 4.8% |  | 5.4% - 5.5% |  | 4.4% - 5.3% |  | 5.1% - 5.5%
Expected dividend yield | — | % |  | — | % |  | —% |  | —%
Fair value of common stock | $24.41 |  | $21.14 |  | $24.41 - $32.46 |  | $17.06 - $21.14
Schedule of Share-based Payment Arrangement, Expensed and Capitalized, Amount | The stock-based compensation for all equity awards for the periods indicated below are as follows (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Cost of revenues | $ | 8,946 |  |  | $ | 8,764 |  |  | $ | 26,422 |  |  | $ | 25,074 |
Research and development | 18,390 |  |  | 16,671 |  |  | 52,883 |  |  | 47,003 |
Sales and marketing | 20,694 |  |  | 16,317 |  |  | 60,657 |  |  | 45,854 |
General and administrative | 17,970 |  |  | 14,756 |  |  | 55,638 |  |  | 44,127 |
Total stock-based compensation | $ | 66,000 |  |  | $ | 56,508 |  |  | $ | 195,600 |  |  | $ | 162,058 |

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of employee stock purchase plans, including, but not limited to: (a) expected term, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
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