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STOCK-BASED COMPENSATION
 9 Months Ended
Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]  
STOCK-BASED COMPENSATION STOCK-BASED COMPENSATION
Stock-based Compensation Expense
Stock-based compensation expense for all stock-based awards, which includes shares purchased under the Company’s 2011 Employee Stock Purchase Plan (“ESPP”), restricted stock units (“RSUs”) and performance 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 recognized 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,
2023202220232022
(In thousands)
Cost of revenues$2,708 $3,188 $9,775 $8,826 
Research and development19,285 17,400 64,528 47,395 
Sales and marketing13,297 20,069 49,231 55,302 
General and administrative8,524 11,639 34,101 41,634 
Total$43,814 $52,296 $157,635 $153,157 
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,
2023202220232022
(In thousands)
Stock options, RSUs and PSUs$42,241 $51,075 $151,050 $142,415 
Employee stock purchase plan1,573 1,360 5,416 3,756 
Post combination expense accrual (Accrued liabilities)— (139)1,169 6,986 
Total$43,814 $52,296 $157,635 $153,157 
As of September 30, 2023, there was approximately $372.7 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 2.5 years.
Equity Awards Activity
Stock Options
The following table summarizes stock option activity:
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, 20221,464 $1.83 
Granted— — 
Exercised(421)2.06 $68,955 
Canceled— — 
Outstanding at September 30, 20231,043 $1.74 1.0$123,403 
Vested and expected to vest at September 30, 20231,043 $1.74 1.0$123,403 
Exercisable at September 30, 20231,043 $1.74 1.0$123,403 
(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, 2023 is based on the closing price of the last trading day during the period ended September 30, 2023. The Company’s stock fair value used in this computation was $120.15 per share.
The following table summarizes information about stock options outstanding at September 30, 2023:
Options OutstandingOptions Exercisable
Range of Exercise PricesNumber of
Shares		Weighted-
Average
Remaining
Life		Weighted-
Average
Exercise
Price		Number of
Shares		Weighted-
Average
Exercise
Price
(In thousands)(Years)(In thousands)
$0.70 —– $0.84
130 0.7$0.73 130 $0.73 
$1.29 —– $1.29
858 1.01.29 858 1.29 
$1.31 —– $5.53
40 1.33.75 40 3.75 
$14.58 —– $14.58
10 2.614.58 10 14.58 
$64.17 —– $64.17
5 3.664.17 5 64.17 
Total1,043 1.0$1.74 1,043 $1.74 
Restricted Stock Units
The following table summarizes RSU 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, 20222,253 $181.01 
Granted619 199.18 
Vested(869)146.23 $166,063 
Canceled(195)181.59 
Outstanding at September 30, 20231,808 $203.87 1.2$217,335 
Expected to vest at September 30, 20231,808 $203.87 1.2$217,327 
(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, 2023 is based on the closing price of the last trading day during the period ended September 30, 2023. The Company’s stock fair value used in this computation was $120.15 per share.
Performance Stock Units
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, 2022376 $197.82 
Granted420 234.34 
Vested(380)196.24 $80,113 
Canceled(19)227.29 
Outstanding at September 30, 2023397 $236.51 1.4$47,716 
Expected to vest at September 30, 2023397 $236.51 1.4$47,716 
(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, 2023 is based on the closing price of the last trading day during the period ended September 30, 2023. The Company’s stock fair value used in this computation was $120.15 per share.