v3.25.4

Equity-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2025

Share-Based Payment Arrangement [Abstract]

Summary of Stock Option Activity

The following table summarizes the stock option activity for the years ended December 31, 2025, 2024 and 2023 (in thousands, except per share data):

			Stock Options						Weighted Average Exercise Price						Weighted Average Remaining Contractual Life (Years)						Aggregate Intrinsic Value
Balance - December 31, 2022			17,754,770						$	8.47					7.06						$	183,315
Exercised			(3,016,765)						6.90												33,792
Forfeited			(1,492,651)						13.12
Balance - December 31, 2023			13,245,354						$	8.31					6.65						$	155,438
Exercised			(3,139,347)						7.15												49,438
Forfeited			(591,266)						12.58
Balance - December 31, 2024			9,514,741						$	8.42					5.13						$	181,714
Exercised			(1,955,194)						$	5.72											$	35,852
Forfeited			(12,317)						$	13.93
Balance - December 31, 2025			7,547,230						$	9.11					4.33						$	113,270
Options vested - December 31, 2025			7,515,230						$	9.10											$	112,895

Summary of RSU Activity

The summary of RSU activity is as follows (in thousands, except per share data):

			Units Activity						Weighted Average Grant Date Fair Value						Aggregate Intrinsic Value
Unvested units as of December 31, 2022			9,527,348						$	18.32					$	178,638
Granted			7,421,772						18.70
Released			(1,966,153)						18.20
Canceled			(1,262,830)						17.60
Unvested units as of December 31, 2023			13,720,137						$	18.61					$	278,519
Granted			4,063,202						20.02
Released			(4,394,452)						18.62
Canceled			(1,213,177)						18.20
Unvested units as of December 31, 2024			12,175,710						$	19.12					$	335,076
Granted			7,426,566						21.57
Released			(6,479,261)						18.43
Canceled			(1,222,125)						19.02
Unvested units as of December 31, 2025			11,900,890						$	21.03					$	287,049

Schedule of Assumptions Used to Calculate Fair Value of Purchase Right for ESPP

The fair value of the purchase right for the ESPP is estimated on the date of grant using the Black-Scholes model with the following assumptions for the year ended December 31, 2025:

			Year Ended December 31,
			2025						2024						2023
Expected volatility			40.5 - 41.6%						26.5 - 42.6%						26.5 - 52.8%
Risk-free interest rate			3.8 - 4.3%						4.4 - 5.4%						4.6 - 5.4%
Expected term (years)			0.5						0.5						0.5

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Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

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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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