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Equity Incentive Plans (Tables)
6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Summary of Changes in Shares Available for Grant

Changes in shares available for grant during the six months ended June 30, 2026 were as follows:

 

 

 

Shares Available for Grant

 

Shares available for grant at December 31, 2025

 

 

11,542,119

 

2019 Equity Incentive Plan reserve increase effective January 1, 2026

 

 

7,688,970

 

Stock options and restricted stock units granted and the maximum performance-based and market-based restricted stock units granted eligible to be earned

 

 

(3,281,902

)

Stock options, restricted stock units and performance-based restricted stock units forfeited or expired

 

 

939,704

 

Shares available for grant at June 30, 2026

 

 

16,888,891

 

 

Summary of Stock Option Activity Under 2009 Plan and 2019 Plan

Stock option activity under the 2009 Plan and 2019 Plan during the six months ended June 30, 2026 was as follows:

 

 

 

Shares Subject to
Outstanding Stock Options

 

 

Weighted-Average Exercise
Price per Share

 

 

Aggregate Intrinsic Value
(in thousands)

 

Stock options outstanding at December 31, 2025

 

10,044,260

 

 

$

16.22

 

 

 

 

Stock options forfeited

 

 

(1,109

)

 

 

12.76

 

 

 

 

Stock options expired

 

 

(85,157

)

 

 

34.56

 

 

 

 

Stock options exercised

 

 

(1,379,053

)

 

 

8.09

 

 

 

 

Stock options outstanding at June 30, 2026

 

 

8,578,941

 

 

$

17.34

 

 

$

76,541

 

Stock options vested and exercisable at June 30, 2026

 

7,692,837

 

 

$

18.57

 

 

$

63,497

 

Summary of Restricted Stock Unit and Market-Based Restricted Stock Units Activity

Restricted stock unit activity under the 2019 Plan during the six months ended June 30, 2026 was as follows:

 

 

 

Restricted Stock Units
Outstanding

 

 

Weighted-Average Grant Date
Fair Value per Share

 

Nonvested restricted stock units outstanding at December 31, 2025

 

11,245,666

 

 

$

7.26

 

Restricted stock units granted

 

2,074,398

 

 

 

16.38

 

Restricted stock units forfeited

 

 

(728,462

)

 

 

8.13

 

Restricted stock units vested

 

 

(3,934,511

)

 

 

7.69

 

Nonvested restricted stock units outstanding at June 30, 2026

 

 

8,657,091

 

 

$

9.18

 

Market-based restricted stock unit activity under the 2019 Plan during the six months ended June 30, 2026 was as follows:

 

 

 

Maximum Market-Based Restricted
Stock Units Outstanding

 

 

Weighted-Average Grant Date
Fair Value per Share

 

Nonvested maximum market-based restricted stock units outstanding at December 31, 2025

 

 

5,356,880

 

 

$

11.07

 

Maximum market-based restricted stock units granted

 

 

603,758

 

 

27.15

 

Market-based restricted stock units vested

 

 

(1,418,440

)

 

 

13.82

 

Nonvested maximum market-based restricted stock units outstanding at June 30, 2026

 

 

4,542,198

 

 

$

12.35

 

Summary of Compensation Costs Related to Stock Options and RSUs Included on Unaudited Condensed Consolidated Statements of Operations

The compensation cost related to stock options, restricted stock units, performance-based restricted stock units and market-based restricted stock units for the three and six months ended June 30, 2026 and 2025, respectively, are included on the unaudited condensed consolidated statements of operations as follows (in thousands):

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Cost of revenue

 

$

757

 

 

$

1,010

 

 

$

1,470

 

 

$

1,889

 

Research and development

 

 

2,808

 

 

 

4,276

 

 

 

6,279

 

 

 

8,334

 

Sales and marketing

 

 

3,327

 

 

 

3,508

 

 

 

6,556

 

 

 

6,652

 

General and administrative

 

 

4,227

 

 

 

4,565

 

 

 

8,742

 

 

 

8,631

 

Total share-based compensation expense

 

$

11,119

 

 

$

13,359

 

 

$

23,047

 

 

$

25,506

 

Schedule of Unrecognized Share-Based Compensation Expense and the Remaining Weighted-Average Recognition Period

As of June 30, 2026, unrecognized share-based compensation expense and the remaining weighted-average recognition period were as follows:

 

 

 

Unrecognized Share-Based
Compensation Expense
(in thousands)

 

 

Remaining Weighted-Average
Recognition Period
(in years)

 

Nonvested stock options

 

$

3,880

 

 

 

2.11

 

Nonvested restricted stock units

 

 

68,550

 

 

 

2.83

 

Nonvested performance-based restricted stock units

 

 

4,428

 

 

 

2.68

 

Nonvested market-based restricted stock units

 

 

16,344

 

 

 

2.04