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Shareholders' Equity and Equity Incentive Plans | 9 Months Ended
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Sep. 30, 2025
Equity [Abstract] |
Shareholders' Equity and Equity Incentive Plans | 11. Shareholders’ Equity and Equity Incentive Plans Equity Incentive Plans Effective January 1, 2025, the number of ordinary shares authorized for issuance under the 2020 Equity Incentive Plan (the “2020 Plan”) automatically increased by 6,400,773 shares pursuant to the terms of the 2020 Plan. Share Options A summary of share option activity under the Company’s equity incentive plans and related information is as follows:
|  | Options Outstanding |
|  | Outstanding Share Options |  |  | Weighted-Average Exercise Price |  |  | Weighted-Average Remaining Contractual Life (Years) |  |  | Aggregate Intrinsic Value |
|  | (in thousands, except share, life and per share data) |
Balance as of December 31, 2024 |  |  | 3,106,267 |  |  | $ | 10.45 |  |  |  | 4.0 |  |  | $ | 60,491 |
Exercised |  |  | (1,163,294 | ) |  | $ | 8.57 |  |  |  |  |  | $ | 37,194 |
Forfeited or expired |  |  | (150,650 | ) |  | $ | 34.95 |  |  |  |  |  |  |
Balance as of September 30, 2025 |  |  | 1,792,323 |  |  | $ | 9.61 |  |  |  | 3.4 |  |  | $ | 67,984 |
Exercisable as of September 30, 2025 |  |  | 1,788,323 |  |  | $ | 9.48 |  |  |  | 3.4 |  |  | $ | 67,984 |
Restricted Share Units A summary of restricted share units (“RSU”) activity under the Company’s equity incentive plan and related information is as follows, including performance-based RSUs:
|  | RSUs |
|  | Unvested RSUs |  |  | Weighted-Average Grant Date Fair Value Per Share |
Unvested as of December 31, 2024 |  |  | 11,081,208 |  |  | $ | 30.11 |
Granted (1) |  |  | 4,390,637 |  |  | $ | 39.59 |
Vested |  |  | (3,670,431 | ) |  | $ | 30.13 |
Forfeited |  |  | (1,073,462 | ) |  | $ | 31.81 |
Unvested as of September 30, 2025 |  |  | 10,727,952 |  |  | $ | 33.81 |
_________________________________________ (1) Includes 290,538 ordinary shares underlying performance-based RSUs with market conditions with a weighted average grant date fair value of $36.53 per ordinary share based on the Monte Carlo simulation model. The total release date fair value of RSUs was $158.3 million during the nine months ended September 30, 2025. Employee Share Purchase Plan Effective January 1, 2025, the number of ordinary shares authorized for issuance under the 2020 Employee Share Purchase Plan (“ESPP”) automatically increased by 1,127,548 shares pursuant to the terms of ESPP. Shares Reserved for Future Issuance The Company has the following ordinary shares reserved for future issuance:
|  | September 30, 2025 |
Outstanding share options |  |  | 1,792,323 |
Outstanding RSUs |  |  | 10,727,952 |
Issuable ordinary shares related to business combination |  |  | 502,906 |
Shares available for future issuance under the 2020 Plan |  |  | 18,545,042 |
Shares available for future issuance under ESPP |  |  | 5,648,041 |
Total ordinary shares reserved |  |  | 37,216,264 |
Share-Based Compensation The share-based compensation expense by line item in the accompanying Condensed Consolidated Statements of Operations is summarized as follows:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
|  | (in thousands) |
Cost of revenue: subscription–self-managed and SaaS |  | $ | 4,420 |  |  | $ | 3,864 |  |  | $ | 12,830 |  |  | $ | 10,203 |
Research and development |  |  | 15,254 |  |  |  | 13,611 |  |  |  | 43,417 |  |  |  | 33,453 |
Sales and marketing |  |  | 14,446 |  |  |  | 13,506 |  |  |  | 40,533 |  |  |  | 33,759 |
General and administrative |  |  | 6,740 |  |  |  | 5,414 |  |  |  | 18,934 |  |  |  | 14,922 |
Total share-based compensation expense |  | $ | 40,860 |  |  | $ | 36,395 |  |  | $ | 115,714 |  |  | $ | 92,337 |
As of September 30, 2025, unrecognized share-based compensation cost related to unvested share-based compensation awards was $334.9 million, which is expected to be recognized over a weighted-average period of 2.6 years. Additionally, unrecognized share-based compensation cost related to the acquisition holdback arrangement was $15.8 million, which will be recognized over 1.8 years.

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- Definition The entire disclosure for shareholders' equity and share-based payment arrangement. Includes, but is not limited to, disclosure of policy and terms of share-based payment arrangement, deferred compensation arrangement, and employee stock purchase plan (ESPP). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/718/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 505 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/505/tableOfContent + Details
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