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Stock-Based Compensation (Tables) | 3 Months Ended
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Mar. 31, 2026
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock Option Activity | The following is a summary of the Company’s stock option activity during the three months ended March 31, 2026:
| Stock Options
(in thousands, except share and per share data) | Number of Options Outstanding |  | Weighted-Average Exercise Price |  | Weighted-Average Remaining Contractual Life (in years) |  | Aggregate Intrinsic Value(1)
Balances as of January 1, 2026 | 4,687,970 |  |  | $ | 5.98 |  |  | 4.43 |  | $ | 36,639 |
Exercised | (134,004) |  |  | 3.31 |  |  |  |  | 1,665 |
Balances as of March 31, 2026 | 4,553,966 |  |  | 6.06 |  |  | 4.20 |  | 43,749 |
Vested and exercisable as of March 31, 2026 | 4,553,966 |  |  | 6.06 |  |  | 4.20 |  | 43,749 |
Vested and expected to vest as of March 31, 2026 | 4,553,966 |  |  | $ | 6.06 |  |  | 4.20 |  | $ | 43,749 |
_________________ (1) The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying stock options and the estimated fair value of the Company’s common stock. The following is a summary of the Company’s stock option activity during the three months ended March 31, 2026 and 2025:
| Three Months Ended March 31,
(in thousands) | 2026 |  | 2025
Aggregate grant-date fair value of options vested | $ | — |  |  | $ | 3,792 |
Aggregate intrinsic value of options exercised | 1,665 |  |  | 14,294 |
Schedule of Restricted Stock Award Activity | RSU and PSU activity during the three months ended March 31, 2026 was as follows:
| Number of Shares |  | Weighted-Average Grant-Date Fair Value Per Share
Unvested at January 1, 2026 | 21,271,140 |  |  | $ | 17.48 |
Granted | 2,946,935 |  |  | 13.76 |
Vested | (1,843,792) |  |  | 16.01 |
Cancelled/forfeited | (2,243,088) |  |  | 18.08 |
Unvested at March 31, 2026 | 20,131,195 |  |  | $ | 17.03 |
The following is a summary of the Company’s RSU and PSU activity during the three months ended March 31, 2026 and 2025:
| Three Months Ended March 31,
(in thousands, except per share data) | 2026 |  | 2025
Weighted-average grant-date fair value per share granted | $ | 13.76 |  |  | $ | 22.93 |
Aggregate grant-date fair value of shares vested | 29,519 |  |  | 29,937 |
Schedule of ESPP Valuation Assumptions | The fair value of the ESPP offerings, including those described above, were estimated using the Black-Scholes option-pricing model as of the respective offering dates, using the following assumptions. These assumptions represent the grant-date fair value inputs for new offerings which commenced during the three months ended March 31, 2026 and 2025, as well as updated valuation information as of the modification date for any offerings for which a modification occurred during the periods presented herein:
| Three Months Ended March 31, |
| 2026 |  | 2025 |  |
Risk-free interest rates | 3.51% to 3.65% |  | 3.92% to 4.26% |  |
Expected term | 0.5 to 1.0 year |  | 0.5 to 2.0 years |  |
Volatility | 49.2% to 52.4% |  | 43.8% to 49.1% |  |
Dividend rate | — | % |  | — | % |  |
Schedule of Share-based Compensation Expense | Stock-based compensation expense for stock options, RSUs, PSUs, and the ESPP, included within the Condensed Consolidated Statements of Operations, net of amounts capitalized to internal-use software, as described in Note 6. Property and Equipment, was as follows:
| Three Months Ended March 31, |  |
(in thousands) | 2026 |  | 2025 |  |  |  |
Customer support and operations | $ | 309 |  |  | $ | 256 |  |  |  |  |
Marketing | 2,173 |  |  | 4,127 |  |  |  |  |
Technology and development | 17,158 |  |  | 21,237 |  |  |  |  |
General and administrative | 7,896 |  |  | 10,172 |  |  |  |  |
Total | $ | 27,536 |  |  | $ | 35,792 |  |  |  |  |

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