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Stockholders Equity (Tables)

9 Months Ended

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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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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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 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.

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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.

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