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STOCK-BASED COMPENSATION
 9 Months Ended
Sep. 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
September 30,		Nine Months Ended
September 30,
2025202420252024
(In thousands)
Cost of revenues$4,105 $2,948 $12,655 $10,860 
Research and development20,488 19,790 62,616 64,550 
Sales and marketing14,493 14,237 47,546 49,199 
General and administrative12,383 8,965 37,593 34,921 
Restructuring— — 588 — 
Total$51,469 $45,940 $160,998 $159,530 
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,
2025202420252024
(In thousands)
RSUs and PSUs$50,138 $44,727 $156,980 $154,834 
ESPP1,331 1,213 4,018 4,696 
Total$51,469 $45,940 $160,998 $159,530 
As of September 30, 2025, there was approximately $263.8 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 nine months ended September 30, 2025 and 2024. Stock option activity during the period, as well as stock options outstanding as of September 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
Aggregate
Intrinsic
Value (1)
(In thousands)(In thousands)
Outstanding at December 31, 20242,283 $139.27 
Granted843 59.23 
Vested(704)154.69 $36,610 
Canceled(295)131.70 
Outstanding at September 30, 20252,127 $103.49 $75,260 
Expected to vest at September 30, 20252,127 $103.49 $75,260 
(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, 2025 is based on the closing price of the last trading day during the period ended September 30, 2025. The Company’s stock fair value used in this computation was $35.39 per share.
Performance Stock Units
The following summarizes PSU activity:
Number of
Shares
Outstanding		Weighted-
Average
Fair Value
per Share at
Grant Date
Aggregate
Intrinsic
Value (1)
(In thousands)(In thousands)
Outstanding at December 31, 2024899 $154.67 
Granted1,128 77.71 
Vested(175)110.20 $10,017 
Canceled(220)119.53 
Outstanding at September 30, 20251,632 $110.98 $57,758 
Expected to vest at September 30, 20251,632 $110.98 $57,758 
(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, 2025 is based on the closing price of the last trading day during the period ended September 30, 2025. The Company’s stock fair value used in this computation was $35.39 per share.