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Stock-Based Compensation
 6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Stock-Based Compensation
We grant stock-based incentive awards to attract, motivate and retain qualified employees, non-employee directors and consultants, and to align their financial interests with those of our stockholders. We utilize stock-based compensation in the form of restricted stock units, performance restricted stock units, options to purchase Class A common stock and Employee Stock Purchase Plan ("ESPP") purchase rights. In December 2014, our Board of Directors adopted and the Company’s stockholders approved the 2014 Equity Incentive Plan ("the Plan"). On May 28, 2026, stockholders approved an amendment to the Plan that increased the number of shares available for grant by 3,900,000. As of June 30, 2026, 5,857,132 shares of Class A common stock were available for grant under the Plan.
Stock-Based Compensation Expense
Stock-based compensation expense was recorded in the following cost and expense categories consistent with the respective employee or service provider’s related cash compensation (in thousands):
Three months ended June 30,Six months ended June 30,
2026202520262025
Cost of revenue
Subscription and support
$3,087 $2,511 $5,935 $4,944 
Professional services
1,241 1,106 2,430 2,102 
Operating expenses
Research and development
6,559 6,556 12,960 12,606 
Sales and marketing
10,108 9,890 19,955 19,641 
General and administrative
8,756 8,404 17,078 17,062 
Total
$29,751 $28,467 $58,358 $56,355 
Stock Options
The following table summarizes the option activity under the Plan for the six months ended June 30, 2026:




Options

Weighted-
Average
Exercise
Price
Weighted-
Average
Remaining
Contractual
Term (Years)
Outstanding at December 31, 2025463,369 $13.72 1.1
Exercised(68,309)15.38 
Outstanding at June 30, 2026395,060 $13.43 0.7
Exercisable at June 30, 2026395,060 $13.43 0.7
Restricted Stock Units and Performance Restricted Stock Units
The following table summarizes the restricted stock unit and performance restricted stock unit activity under the Plan for the six months ended June 30, 2026:




Number of Shares
Weighted-
Average
Grant Date Fair Value
Unvested at December 31, 20252,856,553 $90.25 
Granted2,002,046 72.12 
Forfeited(190,882)84.46 
Vested(1)
(854,881)93.98 
Unvested at June 30, 20263,812,836 $80.18 
(1) During the six months ended June 30, 2026, in accordance with our Nonqualified Deferred Compensation Plan, recipients of 3,218 shares elected to defer settlement of their vested restricted stock units and 123,003 shares were released from deferral
Employee Stock Purchase Plan
During the six months ended June 30, 2026, 140,328 shares of common stock were purchased under the ESPP at a weighted-average price of $57.38 per share, resulting in cash proceeds of $8.1 million.
Compensation expense associated with ESPP purchase rights is recognized on a straight-line basis over the vesting period. As of June 30, 2026, there was approximately $0.2 million of total unrecognized compensation expense related to the ESPP, which is expected to be recognized over a weighted-average period of 14 days.