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Stock-based Compensation | 6 Months Ended
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Jun. 30, 2025
Share-Based Payment Arrangement [Abstract] |
Stock-based Compensation | Stock-based Compensation Stock-based Compensation Expense We recorded stock-based compensation expense in the following categories in the accompanying unaudited condensed consolidated statements of operations and balance sheets (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30, |  |
|  | 2025 |  | 2024 |  | 2025 |  | 2024 |  |  |  |
Cost of revenue |  | $ | 1,478 |  |  | $ | 1,747 |  |  | $ | 2,738 |  |  | $ | 3,340 |  |  |  |  |
Sales and marketing |  | 4,473 |  |  | 1,906 |  |  | 8,240 |  |  | 3,485 |  |  |  |  |
Technology and development |  | 4,658 |  |  | 6,525 |  |  | 8,682 |  |  | 12,228 |  |  |  |  |
General and administrative |  | $ | 20,029 |  |  | $ | 8,737 |  |  | $ | 40,734 |  |  | $ | 14,718 |  |  |  |  |
Total stock-based compensation expense |  | 30,638 |  |  | 18,915 |  |  | 60,394 |  |  | 33,771 |  |  |  |  |
Amount capitalized to internal-use software |  | 1,580 |  |  | 1,627 |  |  | 2,920 |  |  | 3,044 |  |  |  |  |
Total stock-based compensation |  | $ | 32,218 |  |  | $ | 20,542 |  |  | $ | 63,314 |  |  | $ | 36,815 |  |  |  |  |
Restricted Stock Units and Performance Stock Units During the six months ended June 30, 2025, we granted 5.8 million restricted stock units, or RSUs, with a total grant date fair value of $56.9 million to various employees. RSUs are measured based on the fair market value of the underlying stock on the date of grant and recognized as expense over the requisite service period. In April 2025, we also granted 0.1 million RSUs with a market vesting condition to a member of our senior leadership team at a weighted-average grant-date fair value of $4.89 per share. Vesting of this award is contingent upon the recipient’s continuous employment over the requisite service period and is subject to achievement of predetermined stock price targets during a three-year performance period, subject to certification by the compensation committee of the board of directors. The fair value of the RSUs was estimated using the Monte Carlo simulation model on the date of the grant. The number of RSUs subject to vesting during the performance period may equal zero percent (0%) to four hundred percent (400%) of the target award. We recognized $0.5 million in stock-based compensation expense during the three months ended June 30, 2025 related to these awards.

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