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Stock-Based Compensation (Tables)
 12 Months Ended
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,
202520242023
Cost of revenue$2,582 $1,484 $659 
Sales and marketing(1)
18,732 39,086 15,420 
Research and development10,271 9,325 2,074 
General and administrative21,321 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:
OptionsWeighted Average Exercise PriceWeighted 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 period2,525,06115.42 5.319,780 
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,
20242023
Risk-free interest rate
4.07%4.16%
Expected dividend yield
— — 
Expected volatility75%71%
Expected term (in years)
6.16.0
A summary of RSU activity for the year ended December 31, 2025 is as follows:
RSUsWeighted Average Grant Date Fair Value per Share
Unvested and outstanding as of December 31, 2024
1,043,621$63.35 
Granted2,360,64650.20 
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,
20252024
Risk-free interest rate
4.05%4.96%
Expected dividend yield
— — 
Expected volatility66%50%
Expected term (in years)
0.50.5