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Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Summary of Share-Based Compensation Expense Recognized to Statements of Operations

A summary of share-based compensation expense recognized in the Company’s Consolidated Statements of Operations is as follows (in thousands):

			Year ended December 31,
			2024						2023						2022
Cost of revenues			$	30,322					$	36,484					$	34,269
Research and development			76,971						93,961						88,846
Sales and marketing			134,659						151,221						151,950
General and administrative			97,107						145,013						110,944
Total share-based compensation expense			$	339,059					$	426,679					$	386,009

Summary of Share-Based Compensation Expense by Award Type

A summary of share-based compensation expense by award type is as follows (in thousands):

			Year ended December 31,
			2024						2023						2022
Employee stock purchase plan rights (“ESPP”)			$	6,338					$	7,574					$	7,719
Performance stock units (“PSUs”)			20,624						27,035						1,737
Restricted stock units (“RSUs”)			312,097						392,070						376,553
Total share-based compensation expense			$	339,059					$	426,679					$	386,009

Summary of Stock Option Activity Plans

A summary of option activity under all of the Company’s equity incentive plans and changes during the period then ended December 31, 2024, 2023, and 2022 is presented in the following table:

			Number of Options Outstanding (in thousands)						Weighted- Average Exercise Price Per Share						Weighted- Average Contractual Term (in Years)						Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2021			154						$	9.12					0.9						$	27,465
Exercised			(132)						8.54
Canceled/Forfeited			—						—
Outstanding at December 31, 2022			22						$	12.53					0.5						$	509
Exercised			(22)						12.53
Canceled/Forfeited			—						—
Outstanding at December 31, 2023			—						$	—					0.0						$	—
Exercised			—						—
Canceled/Forfeited			—						—
Outstanding at December 31, 2024			—						$	—					0.0						$	—
Vested and expected to vest as of December 31, 2024			—						$	—					0.0						$	—
Exercisable as of December 31, 2024			—						$	—					0.0						$	—

Summary of Assumptions Used to Value ESPP Rights Under the Black-Scholes Option-Pricing Model

The weighted-average assumptions used to value ESPP rights under the Black-Scholes-Merton option-pricing model and the resulting offering grant date fair value of ESPP rights granted in the periods presented were as follows:

			Year ended December 31,
			2024						2023						2022
Expected term (in years)			0.5						0.5						0.5
Expected volatility			46		%				67		%				81		%
Risk-free interest rate			4.89		%				5.36		%				3.01		%
Expected dividend yield			0		%				0		%				0		%
Offering grant date fair value of ESPP rights			$	10.59					$	9.38					$	20.18

Summary of RSUs Activity

A summary of activity of restricted and performance-based stock units as of December 31, 2024, and changes during the period then ended is presented in the following table:

			Number of RSUs/PSUs Outstanding (in thousands)						Weighted- Average Grant Date Fair Value Per Share						Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2021			2,851						$	258.26					$	534,186
Granted			5,999						72.96
Released			(2,787)						131.18
Canceled/Forfeited			(963)						206.32
Outstanding at December 31, 2022			5,100						$	119.55					$	180,577
Granted			13,666						32.16
Released			(5,891)						61.12
Canceled/Forfeited			(2,828)						57.29
Outstanding at December 31, 2023			10,047						$	52.47					$	325,153
Granted			6,947						36.34
Released			(6,226)						53.15
Canceled/Forfeited			(2,462)						40.28
Outstanding at December 31, 2024			8,306						$	42.09					$	290,799

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Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of employee stock purchase plans, including, but not limited to: (a) expected term, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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