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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2025
Share-Based Payment Arrangement [Abstract] |
Share-Based Payment Arrangement, Expensed and Capitalized, Amount | The Company’s stock-based compensation expense is recorded as follows (in thousands):
| Year ended December 31,
| 2025 |  | 2024 |  | 2023
Cost of revenue | $ | 2,582 |  |  | $ | 1,484 |  |  | $ | 659 |
Sales and marketing(1) | 18,732 |  |  | 39,086 |  |  | 15,420 |
Research and development | 10,271 |  |  | 9,325 |  |  | 2,074 |
General and administrative | 21,321 |  |  | 26,321 |  |  | 2,015 |
Total stock-based compensation expense | $ | 52,906 |  |  | $ | 76,216 |  |  | $ | 20,168 |
_______________ (1)Sales and marketing includes common stock warrant expense of $8.8 million, $29.3 million, and $13.2 million recognized during the years ended December 31, 2025, 2024, and 2023, respectively. See Note 9 – Stockholders’ Equity.
Disclosure of Share-Based Compensation Arrangements by Share-Based Payment Award | A summary of option activity for the year ended December 31, 2025 is as follows:
| Options |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value (in thousands)
Options outstanding as of December 31, 2024 | 3,279,483 |  | $ | 15.49 |  |  | 6.5 |  | $ | 162,641 |
Exercised | (594,148) |  | 15.36 |  |  |  |  |
Forfeited or expired | (160,274) |  | 17.06 |  |  |  |  |
Options outstanding as of end of period | 2,525,061 |  | 15.42 |  |  | 5.3 |  | 19,780 |
Options vested and exercisable as of December 31, 2025 | 2,189,326 |  | $ | 14.77 |  |  | 5.0 |  | $ | 18,017 |
The fair value of options granted was estimated using the Black Scholes option-pricing model using the following weighted average assumptions:
| Year ended December 31,
| 2024 |  | 2023
Risk-free interest rate | 4.07 | % |  | 4.16 | %
Expected dividend yield | — |  |  | — |
Expected volatility | 75 | % |  | 71 | %
Expected term (in years) | 6.1 |  | 6.0
A summary of RSU activity for the year ended December 31, 2025 is as follows:
| RSUs |  | Weighted Average Grant Date Fair Value per Share
Unvested and outstanding as of December 31, 2024 | 1,043,621 |  | $ | 63.35 |
Granted | 2,360,646 |  | 50.20 |
Vested | (499,501) |  | 64.79 |
Forfeited or expired | (468,507) |  | 63.55 |
Unvested and outstanding as of December 31, 2025 | 2,436,259 |  | $ | 50.28 |
The fair value of ESPP shares was estimated using the Black-Scholes option pricing model with the following weighted-average assumptions:
| Year ended December 31,
| 2025 |  | 2024
Risk-free interest rate | 4.05 | % |  | 4.96 | %
Expected dividend yield | — |  |  | — |
Expected volatility | 66 | % |  | 50 | %
Expected term (in years) | 0.5 |  | 0.5

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