v3.25.1
Stockholders' Equity and Stock-based Compensation (Tables)
 3 Months Ended
Mar. 31, 2025
Equity [Abstract]  
Schedule of Stock Option Activity
A summary of the Company’s stock option activity during the three months ended March 31, 2025 is as follows:
Outstanding OptionsWeighted Average Exercise
Price		Weighted Average Remaining
Contractual Life		Aggregate Intrinsic Value
(in thousands)(Years)(in thousands)
Balance as of December 31, 20241,314$113.07 6.6$40,141 
Granted40$139.73 
Exercised(56)$46.41 
Canceled(21)$141.25 
Balance as of March 31, 20251,277$116.35 6.6$23,831 
Vested and expected to vest as of March 31, 20251,165$113.95 6.3$23,632 
Exercisable as of March 31, 2025781$101.74 5.4$22,800 
Schedule of RSU Activity Inclusive of PRSU Activity
A summary of the Company’s RSU activity, inclusive of PRSU activity, during the three months ended March 31, 2025 is as follows:
Outstanding RSUsWeighted Average Grant Date Fair Value
Per Share
(in thousands)
Balance as of December 31, 20241,086(1)$140.72 
Granted192(2)$139.73 
Vested(172)(3)$147.54 
Forfeited(135)(4)$152.02 
Balance as of March 31, 2025971(5)$137.73 
Outstanding and expected to vest as of March 31, 2025760$137.06 
(1)Included 161 thousand PRSUs granted to certain executive officers in 2024, 2023, 2022 and 2021.
(2)Included 164 thousand PRSUs granted to certain executive officers in the three months ended March 31, 2025.
(3)Included 90 thousand PRSUs granted to certain executive officers in 2024, 2023, 2022 and 2021.
(4)Included 70 thousand PRSUs granted to certain executive officers in 2024, 2023, 2022 and 2021.
(5)Included 165 thousand PRSUs granted to certain executive officers in 2025, 2024, 2023, 2022 and 2021.
Schedule of Stock-Based Compensation Expense in Statements of Operations
The following table shows a summary of the stock-based compensation expenses included in the condensed consolidated statements of operations:
Three Months Ended
March 31,
20252024
(in thousands)
Cost of revenues$2,090 $2,020 
Research and development5,104 5,303 
Sales and marketing3,200 3,739 
General and administrative8,426 7,969 
Total stock-based compensation, net of amounts capitalized (1)$18,820 $19,031 
(1)Total stock-based compensation expense capitalized was de minimis during the three months ended March 31, 2025 and 2024.
Schedule of Share Repurchase Program
The Company's share repurchase program was authorized by the board of directors as follows:
Announcement DateAuthorized Dollar Value
(in millions)
February 12, 2018$100.0 
October 30, 2018100.0 
October 30, 2019100.0 
May 7, 2020100.0 
February 10, 2021100.0 
November 3, 2021200.0 
May 4, 2022200.0 
February 9, 2023100.0 
February 7, 2024200.0 
February 6, 2025200.0 
Total as of March 31, 2025$1,400.0