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STOCK-BASED COMPENSATION
 6 Months Ended
Jun. 30, 2025
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 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.
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
June 30,		Six Months Ended
June 30,
2025202420252024
(In thousands)
Cost of revenues$4,311 $3,730 $8,550 $7,912 
Research and development20,481 20,210 42,128 44,760 
Sales and marketing16,657 16,784 33,053 34,962 
General and administrative12,368 12,033 25,210 25,956 
Restructuring79 — 588 — 
Total$53,896 $52,757 $109,529 $113,590 
The following table summarizes the various types of stock-based compensation expense for the periods presented:
Three Months Ended
June 30,		Six Months Ended
June 30,
2025202420252024
(In thousands)
RSUs and PSUs$52,666 $51,320 $106,842 $110,107 
ESPP1,230 1,437 2,687 3,483 
Total$53,896 $52,757 $109,529 $113,590 
As of June 30, 2025, there was approximately $319.6 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 2.2 years.
Equity Awards Activity
Stock Options
No stock options were granted during the three and six months ended June 30, 2025 and 2024. Stock option activity during the period and stock options outstanding as of June 30, 2025 were immaterial
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, 20242,283 $139.27 
Granted724 62.81 
Vested(542)156.01 $31,051 
Canceled(228)137.59 
Outstanding at June 30, 20252,237 $110.63 1.4$88,675 
Expected to vest at June 30, 20252,236 $110.62 1.4$88,672 
(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 June 30, 2025 is based on the closing price of the last trading day during the period ended June 30, 2025. The Company’s stock fair value used in this computation was $39.65 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, 2024899 $154.67 
Granted1,128 77.71 
Vested(175)110.20 $10,017 
Canceled(209)119.94 
Outstanding at June 30, 20251,643 $110.98 1.6$65,127 
Expected to vest at June 30, 20251,643 $110.98 1.6$65,127 
(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 June 30, 2025 is based on the closing price of the last trading day during the period ended June 30, 2025. The Company’s stock fair value used in this computation was $39.65 per share.