XML 81 R33.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Equity Incentive Plans and Stock-Based Compensation (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Summary of Stock-based Compensation | A summary of our stock-based compensation expense is as follows (in thousands):
|  |  | Years Ended December 31,
|  |  |  |  | 2024 |  | 2023 |  | 2022
Stock-based compensation by type of award: |  |  |  |  |  |  |  |  |
Stock options |  |  |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Stock awards |  |  |  |  | 15,958 |  |  | 12,999 |  |  | 11,995 |
Employee stock purchase rights |  |  |  |  | 1,090 |  |  | 1,082 |  |  | 1,336 |
Total |  |  |  |  | $ | 17,048 |  |  | $ | 14,081 |  |  | $ | 13,331 |
Stock-based compensation by category of expense: |  |  |  |  |  |  |  |  |
Cost of revenue |  |  |  |  | $ | 2,022 |  |  | $ | 1,702 |  |  | $ | 1,556 |
Sales and marketing |  |  |  |  | 3,946 |  |  | 3,722 |  |  | 4,556 |
Research and development |  |  |  |  | 4,199 |  |  | 3,232 |  |  | 3,346 |
General and administrative |  |  |  |  | 6,881 |  |  | 5,425 |  |  | 3,873 |
Total |  |  |  |  | $ | 17,048 |  |  | $ | 14,081 |  |  | $ | 13,331 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | The fair values of employee stock purchase rights were estimated as of the grant date using the Black-Scholes option-pricing model with the following assumptions:
|  |  | Years Ended December 31,
|  |  | 2024 |  | 2023 |  | 2022
Expected term (in years) |  |  | 0.5 |  | 0.5 |  | 0.5
Risk-free interest rate |  |  | 5.0% |  | 5.3% |  | 0.9%
Expected volatility |  |  | 32% |  | 42% |  | 58%
Dividend rate |  |  | 1.50% |  | 1.80% |  | 1.25%
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions [Table Text Block] | The fair values of employee stock purchase rights were estimated as of the grant date using the Black-Scholes option-pricing model with the following assumptions:
|  |  | Years Ended December 31,
|  |  | 2024 |  | 2023 |  | 2022
Expected term (in years) |  |  | 0.5 |  | 0.5 |  | 0.5
Risk-free interest rate |  |  | 5.0% |  | 5.3% |  | 0.9%
Expected volatility |  |  | 32% |  | 42% |  | 58%
Dividend rate |  |  | 1.50% |  | 1.80% |  | 1.25%
Summary of Activity under Stock Option Plans | The following tables summarize our stock option activities and related information:
| Number of Shares (thousands) |  | Weighted-Average Exercise Price Per Share |  | Weighted-Average Remaining Contractual Term (years) |  | Aggregate Intrinsic Value (1) (thousands)
Outstanding as of December 31, 2023 | 80 |  |  | $ | 4.63 |  |  |  |  |
Granted | — |  |  | — |  |  |  |  |
Exercised | (77) |  |  | 4.39 |  |  |  |  |
Canceled | (3) |  |  | 12.19 |  |  |  |  |
Outstanding as of December 31, 2024 | — |  |  | $ | — |  |  | 0 |  | $ | — |
Vested and exercisable as of December 31, 2024 | — |  |  | $ | — |  |  | 0 |  | $ | — |
(1)The aggregate intrinsic value represents the excess of the closing price of our common stock of $18.40 as of December 31, 2024 over the exercise price of the outstanding in-the-money options.
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Grant Date Intrinsic Value [Table Text Block] | The intrinsic value of options exercised is as follows (in thousands):
| Years Ended December 31,
| 2024 |  | 2023 |  | 2022
Intrinsic value of options exercised (1) | $ | 822 |  |  | $ | 1,440 |  |  | $ | 5,744 |
(1)Intrinsic value of options exercised is the difference between the closing price of our common stock at the time of exercise and the exercise price paid.
Summary of Restricted Stock Units Activity | The following table summarizes our restricted stock unit activities and related information:
Service-Based Restricted Stock Units (RSUs) |  | Number of Shares (thousands) |  | Weighted-Average Grant Date Fair Value Per Share |  | Weighted-Average Remaining Vesting Term (years) |
Nonvested as of December 31, 2023 |  | 2,360 |  |  | $ | 13.94 |  |  |  |
Granted |  | 1,424 |  |  | 14.10 |  |  |  |
Released |  | (916) |  |  | 13.25 |  |  |  |
Canceled |  | (372) |  |  | 14.11 |  |  |  |
Nonvested as of December 31, 2024 |  | 2,496 |  |  | $ | 14.26 |  |  | 1.42 |
The following table summarizes our market performance-based restricted stock unit activities and related information:
Market Performance-Based Restricted Stock Units (PSUs) |  | Number of Shares (thousands) |  | Weighted-Average Grant Date Fair Value Per Share |  | Weighted-Average Remaining Vesting Term (years)
Nonvested as of December 31, 2023 |  | 657 |  |  | $ | 10.32 |  |  |
Granted |  | 363 |  |  | 11.51 |  |  |
Released |  | (243) |  |  | 7.88 |  |  |
Canceled |  | (31) |  |  | 11.99 |  |  |
Nonvested as of December 31, 2024 |  | 746 |  |  | $ | 11.63 |  |  | 2.63
The fair values of market performance-based restricted stock units were estimated as of the grant date using a Monte Carlo valuation model with the following assumptions:
|  |  | Years Ended December 31,
|  |  | 2024 |  | 2023 |  | 2022
Expected term (in years) |  |  | 4.0 |  | 4.0 |  | 4.0
Risk-free interest rate |  |  | 4.0% |  | 4.3% |  | 1.4%
Expected volatility |  |  | 52.01% |  | 50.20% |  | 47.98%
Dividend rate |  |  | 1.77% |  | 1.63% |  | 1.39%
Following is additional information pertaining to our stock award activities for both RSUs and PSUs (in thousands, except per share data):
| Years Ended December 31,
| 2024 |  | 2023 |  | 2022
Weighted-average grant date fair value of stock awards granted (per share) | $ | 13.57 |  |  | $ | 14.04 |  |  | $ | 13.76 |
Total fair value of stock awards released (vested) during the period | $ | 14,044 |  |  | $ | 13,535 |  |  | $ | 12,226 |

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 total intrinsic value of options exercised (or share units converted), share-based liabilities paid, and the total fair value of shares vested during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (d)(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_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGrantDateIntrinsicValueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + 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 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock
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 employee stock purchase plans, including, but not limited to: (a) expected term, (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_ScheduleOfShareBasedPaymentAwardEmployeeStockPurchasePlanValuationAssumptionsTableTextBlock
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