XML 51 R38.htm IDEA: XBRL DOCUMENT
v3.25.4

Stock-Based Compensation (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock-Based Compensation Expense | Stock-based compensation expense for the years ended December 31, 2025, 2024 and 2023 was $46.6 million, $45.4 million and $43.6 million, respectively, as summarized below:
| Year Ended December 31,
| 2025 |  | 2024 |  | 2023
| (in thousands)
Cost of revenue | $ | 1,687 |  |  | $ | 1,576 |  |  | $ | 1,348 |
Sales and marketing | 16,301 |  |  | 14,938 |  |  | 14,706 |
Research and development | 11,150 |  |  | 10,156 |  |  | 8,560 |
General and administrative | 17,455 |  |  | 18,681 |  |  | 18,956 |
Total stock-based compensation expense | $ | 46,593 |  |  | $ | 45,351 |  |  | $ | 43,570 |
The impact to our income before income taxes due to stock-based compensation expense and the related income tax benefits were as follows:
| Year Ended December 31,
| 2025 |  | 2024 |  | 2023
| (in thousands)
Impact to income before income taxes due to stock-based compensation | $ | 46,593 |  |  | $ | 45,351 |  |  | $ | 43,570 |
Income tax benefit related to stock-based compensation | 2,099 |  |  | 1,528 |  |  | 1,334 |
Schedule of Option Grant Activity | Stock option grant activity under the 2021 Plan was as follows during the year ended December 31, 2025:
| Number of Shares Outstanding |  | Weighted- Average Exercise Price |  | Aggregate Intrinsic Value (in thousands) |  | Weighted- Average Remaining Contractual Term (in years)
Outstanding balances as of December 31, 2024 | 47,903 |  |  | $ | 0.60 |  |  |  |  |
Options exercised | (6,580) |  |  | 0.34 |  |  |  |  |
Outstanding balances as of December 31, 2025 | 41,323 |  |  | $ | 0.64 |  |  |  |  |
Options exercisable as of December 31, 2025 | 41,323 |  |  | $ | 0.64 |  |  | $ | 283 |  |  | 1.1
Options vested and expected to vest as of December 31, 2025 | 41,323 |  |  | $ | 0.64 |  |  | $ | 283 |  |  | 1.1
Schedule of Stock Option Valuation Assumptions | For stock option awards granted during the year ended December 31, 2021, we estimated the fair value at the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions:
| Year Ended December 31,
| 2021
Expected dividend yield | — | %
Volatility | 45.5 | %
Risk-free rate of return | 0.5 | %
Expected life | 3.47 years
Schedule of Restricted Stock Unit Activity | The following table summarizes information about RSU activity under the 2021 Plan during the year ended December 31, 2025:
| Number of Units Outstanding |  | Weighted-Average Grant Date Fair Value Per Share |  | Aggregate Intrinsic Value (in thousands) |  | Weighted-Average Remaining Contractual Term (in years)
Unvested balances as of December 31, 2024 | 6,646,030 |  |  | $ | 12.19 |  |  | $ | 62,074 |  |  | 1.2
Restricted stock units granted | 4,852,914 |  |  | 9.71 |  |  |  |  |
Restricted stock units vested | (3,260,270) |  |  | 12.17 |  |  |  |  |
Restricted stock units forfeited | (960,254) |  |  | 11.09 |  |  |  |  |
Unvested balances as of December 31, 2025 | 7,278,420 |  |  | $ | 10.69 |  |  | $ | 54,443 |  |  | 1.2
Schedule of Performance Stock Unit Activity | The following table summarizes information about PSU activity under the 2021 Plan during the year ended December 31, 2025:
| Number of Units Outstanding |  | Weighted-Average Grant Date Fair Value Per Share |  | Aggregate Intrinsic Value (in thousands) |  | Weighted-Average Remaining Contractual Term (in years)
Unvested balances as of December 31, 2024 | 1,612,395 |  |  | $ | 11.84 |  |  | $ | 15,060 |  |  | 0.8
Performance stock units granted | 1,535,443 |  |  | 8.93 |  |  |  |  |
Performance stock units vested | (721,464) |  |  | 11.39 |  |  |  |  |
Performance stock units forfeited | (363,854) |  |  | 12.28 |  |  |  |  |
Unvested balances as of December 31, 2025 | 2,062,520 |  |  | $ | 9.75 |  |  | $ | 15,428 |  |  | 0.9

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in outstanding nonvested performance-based units. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfNonvestedPerformanceBasedUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock units. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (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
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration