v3.24.3
Stock-Based Compensation (Tables)
 9 Months Ended
Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity Stock option activity for the nine months ended September 30, 2024 was as follows:
Number of Options OutstandingWeighted-Average Exercise Price
(Per share)		Weighted-Average Remaining Life
(In years)		Aggregate Intrinsic Value
(In thousands)
Outstanding at January 1, 20243,289,019 $9.43 4.17$89,671 
Exercised(1,696,804)7.03 
Forfeited or cancelled(32,987)16.30 
Outstanding at September 30, 20241,559,228 $11.86 5.40$44,484 
Vested and exercisable at September 30, 20241,526,692 11.72 5.3843,777 
Vested and unvested expected to vest at September 30, 20241,558,803 $11.86 5.40$44,475 
Schedule of RSU Activity RSU activity for the nine months ended September 30, 2024 was as follows:
SharesWeighted-Average Grant Date Fair Value
 (Per share)
Unvested balance at January 1, 20246,308,499 $36.07 
Granted2,983,779 37.09 
Vested(1,641,401)37.38 
Forfeited or cancelled(1,889,799)36.02 
Unvested balance at September 30, 20245,761,078 36.23 
Vested and expected to vest at September 30, 20244,833,171 $36.17 
Schedule of PRSU Activity
The Company has issued PRSUs which vest based on the achievement of each award’s established performance targets. PRSU activity for the nine months ended September 30, 2024 was as follows:
SharesWeighted-Average Grant Date Fair Value
(Per share)
Unvested balance at January 1, 2024537,715 $35.25 
Granted168,944 36.48 
Vested(96,469)51.25 
Forfeited or cancelled(98,833)31.75 
Adjusted by performance factor(305,948)31.75 
Unvested balance at September 30, 2024205,409 $35.64 
Summary of Share-Based Payment Arrangement and Price Targets A cumulative percentage of the MRSU target is earned based on the achievement of stock price goals, measured based on the average of the Company’s closing stock price over a consecutive 60 trading day period during the performance period as set forth in the table below:
TrancheCompany Stock Price TargetTotal Payout
1$65.00
25% of Target MRSUs
2$100.00
50% of Target MRSUs
3$135.00
100% of Target MRSUs
4$170.00
150% of Target MRSUs
Summary of Stock-Based Compensation Expense
Stock-based compensation is included in the Condensed Consolidated Statements of Operations as follows:
Three Months EndedNine Months Ended
September 30,September 30,
2024202320242023
Cost of revenue$506 $497 $1,583 $1,350 
Research and development10,828 9,502 29,099 35,280 
Sales and marketing2,063 4,701 9,105 11,759 
General and administrative (1)
9,552 (17,071)27,872 13,263 
Restructuring and other charges— — — 3,937 
Total$22,949 $(2,371)$67,659 $65,589 
(1) Amount includes $31.3 million of recognized stock-based compensation related to our former CEO’s MRSUs that was estimated to be forfeited and therefore reversed for the three and nine months ended September 30, 2023.