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Stockholders' Equity (Tables) | 12 Months Ended
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Dec. 31, 2024
Equity [Abstract] |
Schedule of Common Stock Reserved for Future Issuance | Shares of common stock reserved for future issuance related to outstanding equity awards and employee equity incentive plans as of December 31, 2024, were as follows (in thousands):
|  | Common Stock Reserved
Stock options outstanding |  | 860 |
RSUs (including PRSUs) outstanding |  | 5,829 |
Shares available for future grant under 2014 Plan |  | 15,506 |
Shares available for future issuance under ESPP |  | 4,298 |
Total shares of common stock reserved |  | 26,493 |
Schedule of Stock Option Activities | A summary of the Company’s stock option activity during the year ended December 31, 2024 is as follows (in thousands, except years and per share data):
|  | Number of Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Life (Years) |  | Aggregate Intrinsic Value (1)
Outstanding as of December 31, 2023 |  | 918 |  |  | $ | 55.96 |  |  |  |  |
Options granted |  | 0 |  |  | 0.00 |  |  |  |  |
Options exercised |  | (26) |  |  | 18.93 |  |  |  |  |
Options forfeited or expired |  | (32) |  |  | 100.86 |  |  |  |  |
Outstanding as of December 31, 2024 |  | 860 |  |  | 55.34 |  |  | 3.7 |  | $ | 10,348 |
Vested and expected to vest as of December 31, 2024 |  | 860 |  |  | 55.34 |  |  | 3.7 |  | 10,348 |
Exercisable as of December 31, 2024 |  | 837 |  |  | 53.35 |  |  | 3.6 |  | 10,348 |
(1) The aggregate intrinsic value amounts are computed based on the difference between the exercise price of the stock options and the fair market value of the Company’s common stock of $40.64 per share as of December 31, 2024 for all in-the-money stock options outstanding. Following is additional information pertaining to the Company’s stock option activity (in thousands, except per share data):
|  | Year Ended December 31,
|  | 2024 |  | 2023 |  | 2022
Weighted average grant date fair value per share of options granted |  | $ | — |  |  | $ | — |  |  | $ | 50.44 |
Intrinsic value of options exercised (1) |  | 901 |  |  | 26,943 |  |  | 45,698 |
Total fair value of options vested during the period |  | 3,249 |  |  | 5,602 |  |  | 11,421 |
Cash received from options exercised |  | 481 |  |  | 9,127 |  |  | 8,522 |
(1) Intrinsic value of options exercised is the difference between the fair market value of the Company’s common stock at the time of exercise and the exercise price paid.
Schedule of RSU Activities | A summary of RSU activity (including PRSUs) during the year ended December 31, 2024 is as follows (in thousands, except per share data):
|  | Number of Shares |  | Weighted Average Grant Date Fair Value Per Share
Outstanding as of December 31, 2023 |  | 4,076 |  |  | $ | 83.25 |
RSUs granted(1) |  | 4,433 |  |  | 46.32 |
RSUs vested and released |  | (2,093) |  |  | 79.87 |
RSUs forfeited or cancelled |  | (587) |  |  | 71.10 |
Outstanding as of December 31, 2024 |  | 5,829 |  |  | 57.27 |
(1) Includes 159,016 PRSUs granted during 2024. Following is additional information pertaining to the Company’s RSU activity (including PRSUs) (in thousands, except per share data):
|  | Year Ended December 31,
|  | 2024 |  | 2023 |  | 2022
Weighted average grant date fair value per share of RSUs granted |  | $ | 46.32 |  |  | $ | 69.84 |  |  | $ | 90.51 |
Total fair value of RSUs vested during the period |  | 167,115 |  |  | 184,443 |  |  | 125,798 |
Schedule of Stock-Based Compensation Expense | Stock-based compensation expenses for the years ended December 31, 2024, 2023 and 2022 were as follows (in thousands):
|  | Year Ended December 31,
|  | 2024 |  | 2023 |  | 2022
Cost of revenue |  | $ | 29,825 |  |  | $ | 38,259 |  |  | $ | 33,297 |
Research and development |  | 37,260 |  |  | 50,430 |  |  | 44,367 |
Sales and marketing |  | 51,214 |  |  | 66,229 |  |  | 59,300 |
General and administrative |  | 48,016 |  |  | 51,374 |  |  | 35,543 |
Total stock-based compensation |  | $ | 166,315 |  |  | $ | 206,292 |  |  | $ | 172,507 |
Schedule of Unrecognized Compensation Expense | As of December 31, 2024, unrecognized stock-based compensation expense by award type and their expected weighted-average recognition periods are summarized in the following table (in thousands, except years).
|  | Stock Option |  | RSU (excluding PRSUs) |  | PRSU |  | ESPP
Unrecognized stock-based compensation expense |  | $ | 1,246 |  |  | $ | 294,832 |  |  | $ | 10,376 |  |  | $ | 2,714 |
Weighted-average amortization period |  | 0.9 years |  | 2.8 years |  | 1.4 years |  | 0.4 years
Schedule of Valuation Assumptions, Stock Option | The weighted average assumptions used to value stock options granted during the periods presented were as follows:
Stock Options |  | Year Ended December 31,
|  | 2024 |  | 2023 |  | 2022
Expected term (years) |  | — |  | — |  | 6.0
Volatility |  | — |  | — |  | 46%
Risk-free interest rate |  | — |  | — |  | 1.8%
Dividend yield |  | — |  | — |  | —
The weighted average assumptions used to value PRSUs with market conditions granted during the periods presented were as follows:
PRSUs (Market Conditions) |  | Year Ended December 31,
|  | 2024 |  | 2023 |  | 2022
Expected term (years) |  | 2.9 |  | 2.8 |  | 3.0
Volatility |  | 49.4% |  | 51.1% |  | 53.0%
Risk-free interest rate |  | 4.5% |  | 4.5% |  | 3.5%
Dividend yield |  | — |  | — |  | —
Schedule of Valuation Assumptions for Stock Option Purchase Plan | The weighted average assumptions used to value purchase rights under the 2014 ESPP granted during the periods presented were as follows:
ESPP |  | Granted In
|  | November 2024 |  | May 2024 |  | November 2023 |  | May 2023 |  | November 2022 |  | May 2022
Expected term (years) |  | 0.5 |  | 0.5 |  | 0.5 |  | 0.5 |  | 0.5 |  | 0.5
Volatility |  | 63% |  | 41% |  | 48% |  | 75% |  | 59% |  | 46%
Risk-free interest rate |  | 4.3% |  | 5.1% |  | 4.8% |  | 4.6% |  | 2.1% |  | 0.2%
Dividend yield |  | — |  | — |  | — |  | — |  | — |  | —

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