v3.25.1
STOCK-BASED COMPENSATION (Tables)
 3 Months Ended
Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of the Components of Total Stock-Based Compensation Expense
The following table summarizes the components of total stock-based compensation expense included in the condensed consolidated statements of operations for the periods presented:
Three Months Ended
March 31,
20252024
(In thousands)
Cost of revenues$4,239 $4,182 
Research and development21,647 24,550 
Sales and marketing16,396 18,178 
General and administrative12,842 13,923 
Restructuring509 — 
Total$55,633 $60,833 
Schedule of Stock-Based Compensation Associated with Each Type of Award
The following table summarizes the various types of stock-based compensation expense for the periods presented:
Three Months Ended
March 31,
20252024
(In thousands)
RSUs and PSUs$54,176 $58,787 
ESPP1,457 2,046 
Total$55,633 $60,833 
Schedule of Restricted Stock Unit Activity
The following table summarizes RSU activity:
Number of
Shares
Outstanding		Weighted-
Average
Fair Value
per Share at
Grant Date		Weighted-
Average
Remaining
Contractual
Term
Aggregate
Intrinsic
Value (1)
(In thousands)(Years)(In thousands)
Outstanding at December 31, 20242,283 $139.27 
Granted615 65.27 
Vested(357)153.03 $21,716 
Canceled(158)140.43 
Outstanding at March 31, 20252,383 $118.04 1.5$147,824 
Expected to vest at March 31, 20252,374 $117.79 1.5$147,334 
(1)    The intrinsic value of RSUs vested is based upon the value of the Company’s stock when vested. The intrinsic value of RSUs outstanding and expected to vest as of March 31, 2025 is based on the closing price of the last trading day during the period ended March 31, 2025. The Company’s stock fair value used in this computation was $62.05 per share.
Schedule of Share-based Compensation, Performance Shares Award Outstanding Activity
The following summarizes PSU activity:
Number of
Shares
Outstanding		Weighted-
Average
Fair Value
per Share at
Grant Date		Weighted-
Average
Remaining
Contractual
Term
Aggregate
Intrinsic
Value (1)
(In thousands)(Years)(In thousands)
Outstanding at December 31, 2024899 $154.67 
Granted1,128 77.71 
Vested(175)110.20 $10,017 
Canceled(197)118.43 
Outstanding at March 31, 20251,655 $111.23 1.8$102,672 
Expected to vest at March 31, 20251,655 $111.23 1.8$102,672 
(1)    The intrinsic value of PSUs vested is based upon the value of the Company’s stock when vested. The intrinsic value of PSUs outstanding and expected to vest as of March 31, 2025 is based on the closing price of the last trading day during the period ended March 31, 2025. The Company’s stock fair value used in this computation was $62.05 per share.