Stock-based compensation expense for all stock-based awards, which includes stock options, restricted stock units (“RSUs”) and performance-based stock units (“PSUs”), expected to vest is measured at fair value on the date of grant and recognized ratably over the requisite service period.

In addition, as part of certain business acquisitions, the Company is obligated to issue shares of common stock of the Company as payment subject to achievement of certain targets. For such payments, the Company records stock-based compensation classified as post-combination expense ratably over the measurement period presuming the targets will be met.

The following table summarizes the components of total stock-based compensation expense included in the condensed consolidated statements of operations for the periods presented:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021

	(In thousands)
Cost of revenues	$	3,188	$	2,915	$	8,826	$	4,957
Research and development	17,400		10,999		47,395		22,215
Sales and marketing	20,069		15,472		55,302		24,344
General and administrative	11,639		17,568		41,634		25,594

Total	$	52,296	$	46,954	$	153,157	$	77,110

The following table summarizes the various types of stock-based compensation expense for the periods presented:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021

	(In thousands)
Stock options, RSUs and PSUs	$	51,075	$	45,992	$	142,415	$	74,193
Employee stock purchase plan	1,360		962		3,756		2,917
Post combination expense accrual (Accrued liabilities)	(139)		—		6,986		—
Total	$	52,296	$	46,954	$	153,157	$	77,110

As of September 30, 2022, there was approximately $295.5 million of total unrecognized stock-based compensation expense related to unvested equity awards, which are expected to be recognized over a weighted-average period of 2.4 years.


	Number of Shares Outstanding	Weighted- Average Exercise Price per Share		Weighted- Average Remaining Contractual Term	Aggregate Intrinsic Value (1)
	(In thousands)			(Years)	(In thousands)








Outstanding at December 31, 2021	2,264	$	1.90
Granted	—	—
Exercised	(580)	2.25			$	128,183
Canceled	(1)	8.82
Outstanding at September 30, 2022	1,683	$	1.78	2.2	$	463,982
Vested and expected to vest at September 30, 2022	1,683	$	1.78	2.2	$	463,982
Exercisable at September 30, 2022	1,683	$	1.78	2.2	$	463,982

(1) The intrinsic value of options exercised is based upon the value of the Company’s stock at exercise. The intrinsic value of options outstanding, vested and expected to vest, and exercisable as of September 30, 2022 is based on the closing price of the last trading day during the period ended September 30, 2022. The Company’s stock fair value used in this computation was $277.47 per share.


	Options Outstanding				Options Exercisable
Range of Exercise Prices	Number of Shares	Weighted- Average Remaining Life	Weighted- Average Exercise Price		Number of Shares	Weighted- Average Exercise Price
	(In thousands)	(Years)			(In thousands)
$0.70 —– $1.11	460	2.6	$	0.91	460	$	0.91
$1.29 —– $1.29	1,000	2.0	1.29		1,000	1.29
$1.31 —– $5.53	196	2.0	2.76		196	2.76
$14.58 —– $14.58	20	3.6	14.58		20	14.58
$64.17 —– $64.17	7	4.6	64.17		7	64.17
Total	1,683	2.2	$	1.78	1,683	$	1.78


	Number of Shares Outstanding	Weighted- Average Fair Value per Share at Grant Date		Weighted- Average Remaining Contractual Term	Aggregate Intrinsic Value (1)
	(In thousands)			(Years)	(In thousands)








Outstanding at December 31, 2021	2,786	$	100.73
Granted	691	194.55
Vested	(1,145)	66.63			$	216,507
Canceled	(160)	141.49
Outstanding at September 30, 2022	2,172	145.58		1.1	$	602,620
Expected to vest at September 30, 2022	2,171	$	145.58	1.1	$	602,496

(1) The intrinsic value of RSUs vested is based upon the value of the Company’s stock when vested. The intrinsic value of RSUs outstanding and expected to vest as of September 30, 2022 is based on the closing price of the last trading day during the period ended September 30, 2022. The Company’s stock fair value used in this computation was $277.47 per share.

The following summarizes PSU activity:


	Number of Shares Outstanding	Weighted- Average Fair Value per Share at Grant Date		Weighted- Average Remaining Contractual Term	Aggregate Intrinsic Value (1)
	(In thousands)			(Years)	(In thousands)








Outstanding at December 31, 2021	445	$	169.82
Granted	392	192.72
Vested	(303)	168.88			$	51,393
Canceled	(179)	171.32
Outstanding at September 30, 2022	355	$	195.14	0.4	$	98,607
Expected to vest at September 30, 2022	355	$	195.14	0.4	$	98,607

(1) The intrinsic value of PSUs vested is based upon the value of the Company’s stock when vested. The intrinsic value of PSUs outstanding and expected to vest as of September 30, 2022 is based on the closing price of the last trading day during the period ended September 30, 2022. The Company’s stock fair value used in this computation was $277.47 per share.