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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Activity under Stock Option Plans | The following table summarizes activity under the Company’s stock option plans:
|  | Number of Shares Underlying Outstanding Options |  | Weighted-Average Exercise Price |  | Weighted-Average Remaining Contractual Term (Years) |  | Aggregate Intrinsic Value (in thousands)
Balances at December 31, 2023 |  | 3,260,914 |  |  | $ | 20.15 |  |  | 4.86 |  | $ | 18,684 |
Exercised |  | (868,015) |  |  | 3.79 |  |  |  |  |
Balances at December 31, 2024 |  | 2,392,899 |  |  | 26.08 |  |  | 4.75 |  | 10,391 |
Vested and exercisable as of December 31, 2024 |  | 892,899 |  |  | 4.71 |  |  | 2.57 |  | 10,391 |
Vested and expected to vest as of December 31, 2024 |  | 2,392,899 |  |  | 26.08 |  |  | 4.75 |  | 10,391 |
Schedule of Activity under stock Option Plans, Common Stock Price Targets | The 90-day volume weighted-average common stock price targets, and the number of shares of the CEO Award that become vested with respect to the Market Condition upon the achievement of each such target, are reflected in the following table:
Stock Price |  | Number of Shares Vested
$60 |  | 100,000
$70 |  | 200,000
$80 |  | 300,000
$90 |  | 400,000
$100 |  | 500,000
Schedule of Fair Value Assumptions on Stock Options Granted | The following assumptions were used to estimate the fair value of the CEO Award:
Dividend yield |  | — | %
Risk-free interest rates |  | 1.7 | %
Expected volatility |  | 65 | %
Schedule of Activity under RSU Plans | The following table summarizes the RSU and PSU activity and related information under the 2018 EIP:
| Number Outstanding |  | Weighted-Average Grant Date Fair Value
Unvested balance - January 1, 2024 | 10,348,892 |  |  | $ | 15.15 |
Granted | 7,381,550 |  |  | 11.94 |
Vested | (4,559,933) |  |  | 15.36 |
Forfeited/canceled | (4,328,793) |  |  | 13.86 |
Unvested balance - December 31, 2024 | 8,841,716 |  |  | $ | 12.99 |
Schedule of Fair Value Assumptions on Employee Stock Purchas Plans | For the years ended December 31, 2024, 2023, and 2022, the assumptions used to determine the fair value of the shares to be awarded was estimated on the grant date using the Black-Scholes valuation model with the following assumptions:
| 2024 |  | 2023 |  | 2022
Dividend yield | — | % |  | — | % |  | — | %
Expected term (in years) | 0.5 - 2.0 |  | 0.5 - 2.0 |  | 0.5 - 2.0
Risk-free interest rates | 4.3% - 5.4% |  | 4.0% - 5.4% |  | 1.5% - 4.6%
Expected volatility | 44% - 64% |  | 58% - 74% |  | 68% - 76%
Schedule of Components of Stock-Based Compensation Expense Recognized | The following table summarizes the components of stock-based compensation expense recognized in the consolidated statements of operations and comprehensive income (loss) for the years ended December 31, 2024, 2023, and 2022:
(In thousands) | 2024 |  | 2023 |  | 2022
Cost of revenue | $ | 1,586 |  |  | $ | 1,900 |  |  | $ | 1,356 |
Research and development | 29,923 |  |  | 28,006 |  |  | 26,881 |
Sales and marketing | 11,670 |  |  | 14,030 |  |  | 11,511 |
General and administrative | 25,212 |  |  | 30,259 |  |  | 35,753 |
Total | $ | 68,391 |  |  | $ | 74,195 |  |  | $ | 75,501 |

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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