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Stock-based Compensation and Common Stock Share Repurchases | 9 Months Ended
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Sep. 30, 2025
Share-Based Payment Arrangement [Abstract] |
Stock-based Compensation and Common Stock Share Repurchases | 11. Stock-based Compensation and Common Stock Share Repurchases Stock-based Compensation Expense For the three months ended September 30, 2025 and 2024 and for the nine months ended September 30, 2025 and 2024, stock-based compensation expense by award type was as follows:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Stock options |  | $ | 67 |  |  | $ | 556 |  |  | $ | 203 |  |  | $ | 1,702 |
Restricted stock units |  |  | 12,560 |  |  |  | 14,899 |  |  |  | 38,349 |  |  |  | 45,132 |
Total |  | $ | 12,627 |  |  | $ | 15,455 |  |  | $ | 38,552 |  |  | $ | 46,834 |
For the three months ended September 30, 2025 and 2024 and for the nine months ended September 30, 2025 and 2024, stock-based compensation expense was recognized in the Company’s Unaudited Condensed Consolidated Income Statements as follows:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Cost of revenue |  | $ | 75 |  |  | $ | 96 |  |  | $ | 213 |  |  | $ | 387 |
Sales and marketing expense |  |  | 2,781 |  |  |  | 3,017 |  |  |  | 8,593 |  |  |  | 9,141 |
Product, technology, and development expense |  |  | 5,393 |  |  |  | 6,164 |  |  |  | 16,500 |  |  |  | 18,165 |
General and administrative expense |  |  | 4,378 |  |  |  | 6,178 |  |  |  | 13,246 |  |  |  | 19,141 |
Total |  | $ | 12,627 |  |  | $ | 15,455 |  |  | $ | 38,552 |  |  | $ | 46,834 |
For the three months ended September 30, 2025 and 2024 and for the nine months ended September 30, 2025 and 2024, stock-based compensation expense excluded $1,738, $1,539, $5,234, and $5,227, respectively, of capitalized website development costs, capitalized internal-use software costs, and capitalized hosting arrangements. Common Stock Share Repurchases On November 7, 2024, the Company announced that the Board of Directors authorized a share repurchase program (the “Original 2025 Share Repurchase Program”) pursuant to which the Company may, from time to time, purchase shares of its Class A common stock for an aggregate purchase price not to exceed $200.0 million. On August 7, 2025, the Company announced that the Board of Directors amended the Original 2025 Share Repurchase Program to increase the authorization by an additional $150.0 million, for a total authorization to purchase shares of its Class A common stock for an aggregate purchase price not to exceed $350.0 million, and extended the expiration of the Original 2025 Share Repurchase Program from December 31, 2025 to July 31, 2026 (as amended, the “2025 Share Repurchase Program”). Share repurchases under the 2025 Share Repurchase Program may be made through a variety of methods, including but not limited to open market purchases, privately negotiated transactions, and transactions that may be effected pursuant to one or more plans under Rule 10b5-1 and/or Rule 10b-18 of the Securities Exchange Act of 1934, as amended. The 2025 Share Repurchase Program does not obligate the Company to repurchase any minimum dollar amount or number of shares. Prior to its expiration, the 2025 Share Repurchase Program may be modified, suspended, or discontinued by the Board of Directors at any time without prior notice. All repurchased shares under the 2025 Share Repurchase Program will be retired. The Company has funded share repurchases and expects to continue to fund share repurchases under the 2025 Share Repurchase Program through cash on hand and cash generated from operations. On November 7, 2023, the Company announced that the Board of Directors authorized a share repurchase program (the “2024 Share Repurchase Program”) pursuant to which the Company could, from time to time, purchase shares of its Class A common stock for an aggregate purchase price not to exceed $250.0 million. The 2024 Share Repurchase Program expired on December 31, 2024. All repurchased shares of Class A common stock under the 2024 Share Repurchase Program were retired. The Company funded share repurchases under the 2024 Share Repurchase Program through cash on hand and cash generated from operations. During the three months ended September 30, 2025, the Company repurchased and retired 3,233,649 shares of its Class A common stock for $110,696, exclusive of commissions and excise tax, at an average cost of $34.23 per share, under the 2025 Share Repurchase Program. During the nine months ended September 30, 2025, the Company repurchased and retired 9,164,088 shares of its Class A common stock for $295,224, exclusive of commissions and excise tax, at an average cost of $32.22 per share, under the 2025 Share Repurchase Program. As of September 30, 2025, the Company had remaining authorization to purchase up to $54,776 of its Class A common stock under the 2025 Share Repurchase Program. During the three months ended September 30, 2024, the Company repurchased and retired 164,301 shares of its Class A common stock for $3,700, exclusive of commissions and excise tax, at an average cost of $22.52 per share, under the 2024 Share Repurchase Program. During the nine months ended September 30, 2024, the Company repurchased and retired 6,357,302 shares of its Class A common stock for $146,117, exclusive of commissions and excise tax, at an average cost of $22.98 per share, under the 2024 Share Repurchase Program. As of December 31, 2024, the 2024 Share Repurchase Program expired.

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