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STOCK-BASED AWARD PLANS (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2025
Compensation plans: |
Schedule of ESPP valuation assumptions | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Offering Period Ending
​ | 5/31/2025 | ​ | 5/31/2024 | ​
Fair market value of common stock | $ | 54.64 | ​ | $ | 27.82 | ​
Volatility |  | 26.4 | % |  | 36.6 | %
Expected term (years) |  | 0.5 | ​ |  | 0.5 | ​
Expected dividend yield |  | - | % |  | - | %
Risk-free interest rate |  | 4.4 | % |  | 5.3 | %
Schedule of stock-based compensation expense related to incentive awards | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended March 31,
​ | ​ | 2025 |  | 2024
​ | ​ | (unaudited)
Stock-based compensation expense: | ​ | ​ | ​ | ​ | ​ | ​
Stock options | ​ | $ | 311 | ​ | $ | 2,606
RSUs | ​ |  | 19,353 | ​ |  | 13,003
RSAs | ​ | ​ | 298 | ​ | ​ | 490
PSUs | ​ | ​ | 830 | ​ | ​ | —
ESPP | ​ |  | 252 | ​ |  | 225
Total stock-based compensation expense | ​ | $ | 21,044 | ​ | $ | 16,324
Schedule of stock based compensation expense in consolidated statement of operations | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended March 31,
​ | ​ | 2025 |  | 2024
​ | ​ | (unaudited)
Stock-based compensation expense: | ​ | ​ | ​ | ​ | ​ | ​
Cost of revenues, software subscriptions | ​ | $ | 2,227 | ​ | $ | 1,590
Cost of revenues, services | ​ |  | 1,696 | ​ |  | 1,006
Research and development | ​ |  | 4,352 | ​ |  | 3,373
Selling and marketing | ​ |  | 5,806 | ​ |  | 4,222
General and administrative | ​ |  | 6,963 | ​ |  | 6,133
Total stock-based compensation expense | ​ | $ | 21,044 | ​ | $ | 16,324
​
Employee Stock Option |
Compensation plans: |
Schedule of Option activity | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | Weighted | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Weighted | ​ | Average | ​ | ​
​ | ​ | ​ | ​ | ​ | Average | ​ | Remaining | ​ | Aggregate
​ | ​ | ​ | ​ | ​ | Exercise | ​ | Contractual | ​ | Intrinsic
2020 Plan Option Activity | ​ | Units | ​ | ​ | Price | ​ | Life (Years) | ​ | Value
​ | ​ | (unaudited)
Outstanding at January 1, 2025 | ​ | 2,970 | ​ | $ | 6.93 | ​ | 4.4 | ​ | $ | 137,857
Exercised | ​ | (387) | ​ | ​ | 4.04 | ​ | ​ | ​ | ​ | ​
2020 Plan options outstanding at March 31, 2025 | ​ | 2,583 | ​ | $ | 7.36 | ​ | 4.4 | ​ | $ | 71,401
2020 Plan options exercisable at March 31, 2025 |  | 2,513 | ​ | $ | 7.05 |  | 4.3 | ​ | $ | 70,260
Schedule of outstanding, vested and exercisable | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Options Outstanding | ​ | Options Vested and Exercisable
​ |  | ​ |  | Weighted |  | ​ |  | Weighted
​ | ​ | ​ | ​ | Average | ​ | ​ | ​ | Average
Exercise Prices | ​ | Units | ​ | Life (Years) | ​ | Units | ​ | Life (Years)
​ | ​ | (unaudited)
$0.15 to $0.71 |  | 310 | ​ | * | ​ | 310 | ​ | *
$2.50 |  | 444 | ​ | 1.6 | ​ | 444 | ​ | 1.6
$3.17 |  | 113 | ​ | 2.9 | ​ | 113 | ​ | 2.9
$3.73 | ​ | 737 | ​ | 4.6 | ​ | 737 | ​ | 4.6
$4.70 | ​ | 466 | ​ | 4.9 | ​ | 466 | ​ | 4.9
$18.47 | ​ | 190 | ​ | 6.7 | ​ | 136 | ​ | 6.7
$18.96 | ​ | 60 | ​ | 6.4 | ​ | 60 | ​ | 6.4
$19.00 |  | 46 | ​ | 6.5 | ​ | 30 | ​ | 6.5
$32.16 |  | 217 | ​ | 5.9 | ​ | 217 | ​ | 5.9
​ | ​ | 2,583 | ​ | ​ |  | 2,513 | ​ | ​
*These options have indefinite contractual lives. |  | ​ | ​ | ​ | ​ | ​ | ​ | ​
Restricted Stock Units |
Compensation plans: |
Schedule of Option activity | ​
​ | ​ | ​ | ​ | ​ | ​
​ |  |  |  | ​ | ​
​ | ​ | ​ | ​ | Weighted
​ | ​ | ​ | ​ | Average
​ | ​ | ​ | ​ | Grant Date Fair
​ | ​ | Units | ​ | Value Per Share
Outstanding at January 1, 2025 | ​ | 4,534 | ​ | $ | 19.96
Granted | ​ | 1,119 | ​ | ​ | 45.43
Vested | ​ | (1,408) | ​ | ​ | 18.68
Forfeited | ​ | (13) | ​ | ​ | 32.26
Outstanding at March 31, 2025 | ​ | 4,232 | ​ | $ | 27.08
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​
Restricted Stock Awards |
Compensation plans: |
Schedule of restricted activity | ​
​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Weighted
​ | ​ | ​ | ​ | Average
​ | ​ | ​ | ​ | Grant Date Fair
​ | ​ | Units | ​ | Value Per Share
Outstanding at January 1, 2025 | ​ | 34 | ​ | $ | 35.06
Outstanding at March 31, 2025 |  | 34 | ​ | $ | 35.06
PSUs |
Compensation plans: |
Schedule of Option activity | ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Average
​ | ​ | ​ | ​ | Grant Date Fair
​ | ​ | Units | ​ | Value Per Share
Outstanding at January 1, 2025 | ​ | 192 | ​ | $ | 53.46
Forfeited | ​ | (2) | ​ | ​ | 53.46
Outstanding at March 31, 2025 | ​ | 190 | ​ | $ | 53.46

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