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