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Shareholders' Equity and Equity Incentive Plans (Tables)
 12 Months Ended
Dec. 31, 2025
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Summary of Ordinary Shares Reserved for Future Issuance

The Company has the following ordinary shares reserved for future issuance:

 

 

December 31, 2025

 

Outstanding share options

 

 

1,428,546

 

Outstanding RSUs

 

 

9,838,786

 

Issuable ordinary shares related to business combination

 

 

502,906

 

Shares available for future issuance under the 2020 Plan

 

 

18,486,971

 

Shares available for future issuance under ESPP

 

 

5,648,041

 

Total ordinary shares reserved

 

 

35,905,250

 

 
Summary of Stock Option Activity

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

 

 

(1,527,071

)

 

$

7.89

 

 

 

 

 

$

58,368

 

Forfeited or expired

 

 

(150,650

)

 

$

34.95

 

 

 

 

 

 

 

Balance as of December 31, 2025

 

 

1,428,546

 

 

$

10.59

 

 

 

3.3

 

 

$

74,162

 

Exercisable as of December 31, 2025

 

 

1,428,546

 

 

$

10.59

 

 

 

3.3

 

 

$

74,162

 

 
Summary of Restricted Ordinary Shares

A summary of RSU activity under the Company's equity incentive plan 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)

 

 

4,706,430

 

 

$

40.06

 

Vested

 

 

(4,617,668

)

 

$

29.72

 

Forfeited

 

 

(1,331,184

)

 

$

32.28

 

Unvested as of December 31, 2025

 

 

9,838,786

 

 

$

34.76

 

_________________________________________

(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.
Summary of Stock-Based Compensation Expense

The share-based compensation expense by line item in the accompanying Consolidated Statements of Operations is summarized as follows:

 

 

Year Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

 

 

(in thousands)

 

Cost of revenue: subscription–self-managed and SaaS

 

$

16,768

 

 

$

14,555

 

 

$

9,784

 

Research and development

 

 

58,203

 

 

 

48,192

 

 

 

32,689

 

Sales and marketing

 

 

55,749

 

 

 

47,603

 

 

 

30,338

 

General and administrative

 

 

25,937

 

 

 

20,756

 

 

 

22,360

 

Total share-based compensation expense

 

$

156,657

 

 

$

131,106

 

 

$

95,171

 

 
Restricted Stock Units (RSUs) [Member]  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Summary of Valuation Assumptions of Employee Options at Grant Dates The assumptions used in the Monte Carlo simulation model to value performance-based RSUs with market conditions are as follows:

 

 

Year Ended December 31,

 

 

2025

 

2024

 

2023

Expected term (years)

 

0.6 - 0.9

 

0.6

 

0.6

Expected volatility

 

43.0% - 55.0%

 

60.2%

 

54.8%

Risk-free interest rate

 

4.2%

 

5.2%

 

5.0%

Expected dividend yield

 

0.0%

 

0.0%

 

0.0%
Employee Share Purchase Plan [Member]  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Summary of Valuation Assumptions of Employee Options at Grant Dates

The Black-Scholes assumptions used to value the purchase rights granted under the ESPP on the first day of the offering period are as follows:

 

 

Year Ended December 31,

 

 

2025

 

2024

 

2023

Expected term (years)

 

0.5

 

0.5

 

0.5

Expected volatility

 

38.0% - 47.7%

 

57.9% - 66.1%

 

44.4% - 55.1%

Risk-free interest rate

 

4.0% - 4.3%

 

4.8% - 5.3%

 

5.2% - 5.5%

Expected dividend yield

 

0.0%

 

0.0%

 

0.0%