v3.25.0.1
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-based Compensation Expense
Stock-based compensation expense was recorded in the following cost and expense categories consistent with the respective employee or service provider’s related cash compensation (in thousands):
Year ended December 31,
202420232022
Cost of revenue
Subscription and support
$7,979 $5,030 $3,437 
Professional services
3,221 2,540 2,128 
Operating expenses
Research and development
21,036 18,441 12,554 
Sales and marketing
35,339 27,774 19,323 
General and administrative
34,575 44,980 33,218 
Total
$102,150 $98,765 $70,660 
Schedule of Stock Option Activity
The following table summarizes the option activity under the Plans for the year ended December 31, 2024:




Options
Weighted-
Average
Exercise
Price		Weighted-
Average
Remaining
Contractual
Term (Years)
Aggregate Intrinsic Value
(in thousands)
Outstanding at December 31, 20231,211,619 $14.46 2.3$105,500 
Granted— — 
Forfeited— — 
Expired(1,980)15.83 
Exercised(317,243)15.47 
Outstanding at December 31, 2024892,396 $14.09 1.7$85,140 
Exercisable at December 31, 2024892,396 $14.09 1.7$85,140 
Schedule of Restricted Stock Units and Performance Restricted Stock Units Activity
The following table summarizes the restricted stock unit and performance restricted stock unit activity under the Plan for the year ended December 31, 2024:
Number of SharesWeighted-Average Grant Date Fair Value
Unvested at December 31, 20232,198,411 $97.17 
Granted1,669,858 86.88 
Forfeited(234,317)95.26 
Vested(1)
(910,286)95.73 
Unvested at December 31, 20242,723,666 $91.56 
(1) During the year ended December 31, 2024, in accordance with our Nonqualified Deferred Compensation Plan, recipients of 3,325 shares had elected to defer settlement of the vested restricted stock units and 21,207 were released from deferral. This resulted in total deferred units of 309,387 as of December 31, 2024.
Schedule of ESPP Valuation Assumptions
The fair value of our ESPP purchase rights was estimated assuming no expected dividends and the following weighted-average assumptions:
Year ended December 31,
202420232022
ESPP
Expected term (in years)0.50.50.5
Risk-free interest rate
4.6% - 4.8%
4.6% - 5.3%
0.6% - 3.1%
Expected volatility
32.8% - 35.7%
33.9% - 57.3%
45.7% - 58.7%
Schedule of Employee Stock Purchase Plan
The following table summarizes the ESPP activity under the Plan for the years ended December 31, 2024, 2023 and 2022:
Year ended December 31,
202420232022
Shares issued194,239 200,436 131,467 
Weighted-average purchase price$71.16 $62.43 $70.41 
Total proceeds (in thousands)$13,822 $12,513 $9,256