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Shareholders' Equity and Equity Incentive Plans | 6 Months Ended
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Jun. 30, 2026
Equity [Abstract] |
Shareholders' Equity and Equity Incentive Plans | 11. Shareholders’ Equity and Equity Incentive Plans Share Repurchases In February 2026, the Board of Directors approved a share repurchase program authorizing the repurchase of up to $300.0 million of the Company’s ordinary shares. The program became effective in March 2026 and has no expiration date but may be suspended, terminated, or modified at any time. Shares may be repurchased from time to time in the open market or through negotiated transactions at prevailing market rates, or by other means in accordance with U.S. federal securities laws. The timing of the repurchases will depend on certain factors, including market conditions, prices, and management’s discretion. The Company accounted for treasury shares under the cost method. During the three and six months ended June 30, 2026, the Company repurchased 47,727 ordinary shares for an aggregate of $2.0 million in the open market. As of June 30, 2026, $298.0 million remained available for repurchases. Equity Incentive Plans Effective January 1, 2026, the number of ordinary shares authorized for issuance under the 2020 Equity Incentive Plan (the “2020 Plan”) automatically increased by 6,580,602 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) |
Outstanding as of December 31, 2025 |  |  | 1,428,546 |  |  | $ | 10.59 |  |  |  | 3.3 |  |  | $ | 74,162 |
Exercised |  |  | (510,075 | ) |  | $ | 9.41 |  |  |  |  |  | $ | 30,664 |
Outstanding and exercisable as of June 30, 2026 |  |  | 918,471 |  |  | $ | 11.26 |  |  |  | 3.0 |  |  | $ | 73,133 |
Restricted Share Units A summary of restricted share units (“RSU”) activity under the Company’s equity incentive plan and related information is as follows:
|  | RSUs |
|  | Unvested RSUs |  |  | Weighted-Average Grant Date Fair Value Per Share |
Unvested as of December 31, 2025 |  |  | 9,838,786 |  |  | $ | 34.76 |
Granted |  |  | 1,377,466 |  |  | $ | 57.61 |
Vested |  |  | (2,728,703 | ) |  | $ | 32.74 |
Forfeited |  |  | (476,077 | ) |  | $ | 36.74 |
Unvested as of June 30, 2026 |  |  | 8,011,472 |  |  | $ | 39.25 |
The total vest date fair value of RSUs was $180.4 million during the six months ended June 30, 2026. Employee Share Purchase Plan Effective January 1, 2026, the number of ordinary shares authorized for issuance under the 2020 Employee Share Purchase Plan (“ESPP”) automatically increased by 1,196,153 shares pursuant to the terms of ESPP. Shares Reserved for Future Issuance The Company has the following ordinary shares reserved for future issuance:
|  | June 30, 2026 |
Outstanding share options |  |  | 918,471 |
Outstanding RSUs |  |  | 8,011,472 |
Issuable ordinary shares related to business combination |  |  | 502,906 |
Shares available for future issuance under the 2020 Plan |  |  | 24,166,184 |
Shares available for future issuance under ESPP |  |  | 6,605,218 |
Total ordinary shares reserved |  |  | 40,204,251 |
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 June 30, |  |  | Six Months Ended June 30, |
|  | 2026 |  |  | 2025 |  |  | 2026 |  |  | 2025 |
|  | (in thousands) |
Cost of revenue: subscription–self-managed and SaaS |  | $ | 4,076 |  |  | $ | 4,209 |  |  | $ | 8,169 |  |  | $ | 8,410 |
Research and development |  |  | 13,981 |  |  |  | 14,186 |  |  |  | 28,191 |  |  |  | 28,163 |
Sales and marketing |  |  | 12,518 |  |  |  | 13,357 |  |  |  | 25,327 |  |  |  | 26,087 |
General and administrative |  |  | 9,002 |  |  |  | 6,257 |  |  |  | 17,517 |  |  |  | 12,194 |
Total share-based compensation expense |  | $ | 39,577 |  |  | $ | 38,009 |  |  | $ | 79,204 |  |  | $ | 74,854 |
As of June 30, 2026, unrecognized share-based compensation cost related to unvested share-based compensation awards was $292.0 million, which is expected to be recognized over a weighted-average period of 2.5 years. Additionally, unrecognized share-based compensation cost related to the acquisition holdback arrangement was $9.1 million, which will be recognized over 1.0 year.

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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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