STOCK-BASED COMPENSATION (Tables)
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6 Months Ended |
Jun. 30, 2025 |
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| Share-Based Payment Arrangement [Abstract] |
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| Schedule of activity of options outstanding |
A summary of stock options activity, including performance-based options, is as follows (in thousands, except per share and years data): | | | | | | | | | | | | | | | | | | | | | | | | | | | Weighted-Average | | | | Options Outstanding | | Exercise Price Per Share | | Remaining Contractual Life (Years) | | Aggregate Intrinsic Value | | Balance at January 1, 2025 | 22,929 | | | $ | 25.59 | | | 5.2 | | $ | 5,106,538 | | | Exercised | (1,496) | | | 28.93 | | | | | | | Forfeited and cancelled | (42) | | | 100.51 | | | | | | | Balance at June 30, 2025 | 21,391 | | | $ | 25.20 | | | 4.8 | | $ | 6,958,048 | | | | | | | | | | | Exercisable at June 30, 2025 | 16,483 | | | $ | 25.72 | | | 4.7 | | $ | 5,353,251 | | | Vested and expected to vest at June 30, 2025 | 16,483 | | | $ | 25.72 | | | 4.7 | | $ | 5,353,251 | |
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| Schedule of activity of RSUs outstanding |
A summary of restricted stock units, performance restricted stock units, and restricted stock (“Other Awards”) activity is as follows (in thousands, except per share data): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Restricted Stock Units | | Performance Restricted Stock Units | | Restricted Stock | | Number of Shares | | Fair Value(1) | | Number of Shares | | Fair Value(1) | | Number of Shares | | Fair Value(1) | | Balance at January 1, 2025 | 2,350 | | | $ | 163.82 | | | 724 | | | $ | 55.42 | | | 340 | | | $ | 98.49 | | | Granted | 3,344 | | | 262.80 | | | — | | | — | | | — | | | — | | | Vested | (1,772) | | | 211.24 | | | (81) | | | 55.42 | | | (235) | | | 113.75 | | | Forfeited and cancelled | (354) | | | 216.38 | | | — | | | — | | | (12) | | | 64.51 | | | Balance at June 30, 2025 | 3,568 | | | $ | 227.84 | | | 643 | | | $ | 55.42 | | | 93 | | | $ | 64.51 | |
__________________ (1)Represents the weighted-average grant date fair value per share. As of June 30, 2025, there was unrecognized compensation cost related to Other Awards as follows (in thousands, except years data): | | | | | | | | | | | | | Unrecognized Compensation | | Weighted-Average Recognition Period (Years) | | Restricted stock units | $ | 722,724 | | | 1.4 | Performance restricted stock units | $ | 4,556 | | | 0.6 | Restricted stock | $ | 3,352 | | | 0.7 |
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| Schedule of activity of PRSUs outstanding |
A summary of restricted stock units, performance restricted stock units, and restricted stock (“Other Awards”) activity is as follows (in thousands, except per share data): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Restricted Stock Units | | Performance Restricted Stock Units | | Restricted Stock | | Number of Shares | | Fair Value(1) | | Number of Shares | | Fair Value(1) | | Number of Shares | | Fair Value(1) | | Balance at January 1, 2025 | 2,350 | | | $ | 163.82 | | | 724 | | | $ | 55.42 | | | 340 | | | $ | 98.49 | | | Granted | 3,344 | | | 262.80 | | | — | | | — | | | — | | | — | | | Vested | (1,772) | | | 211.24 | | | (81) | | | 55.42 | | | (235) | | | 113.75 | | | Forfeited and cancelled | (354) | | | 216.38 | | | — | | | — | | | (12) | | | 64.51 | | | Balance at June 30, 2025 | 3,568 | | | $ | 227.84 | | | 643 | | | $ | 55.42 | | | 93 | | | $ | 64.51 | |
__________________ (1)Represents the weighted-average grant date fair value per share. As of June 30, 2025, there was unrecognized compensation cost related to Other Awards as follows (in thousands, except years data): | | | | | | | | | | | | | Unrecognized Compensation | | Weighted-Average Recognition Period (Years) | | Restricted stock units | $ | 722,724 | | | 1.4 | Performance restricted stock units | $ | 4,556 | | | 0.6 | Restricted stock | $ | 3,352 | | | 0.7 |
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| Schedule of activity of restricted Class A common stock |
A summary of restricted stock units, performance restricted stock units, and restricted stock (“Other Awards”) activity is as follows (in thousands, except per share data): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Restricted Stock Units | | Performance Restricted Stock Units | | Restricted Stock | | Number of Shares | | Fair Value(1) | | Number of Shares | | Fair Value(1) | | Number of Shares | | Fair Value(1) | | Balance at January 1, 2025 | 2,350 | | | $ | 163.82 | | | 724 | | | $ | 55.42 | | | 340 | | | $ | 98.49 | | | Granted | 3,344 | | | 262.80 | | | — | | | — | | | — | | | — | | | Vested | (1,772) | | | 211.24 | | | (81) | | | 55.42 | | | (235) | | | 113.75 | | | Forfeited and cancelled | (354) | | | 216.38 | | | — | | | — | | | (12) | | | 64.51 | | | Balance at June 30, 2025 | 3,568 | | | $ | 227.84 | | | 643 | | | $ | 55.42 | | | 93 | | | $ | 64.51 | |
__________________ (1)Represents the weighted-average grant date fair value per share. As of June 30, 2025, there was unrecognized compensation cost related to Other Awards as follows (in thousands, except years data): | | | | | | | | | | | | | Unrecognized Compensation | | Weighted-Average Recognition Period (Years) | | Restricted stock units | $ | 722,724 | | | 1.4 | Performance restricted stock units | $ | 4,556 | | | 0.6 | Restricted stock | $ | 3,352 | | | 0.7 |
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| Schedule of stock based compensation |
The effects of stock-based compensation on the Condensed Consolidated Statements of Operations and Condensed Consolidated Balance Sheets are as follows (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | 2025 | | 2024 | | 2025 | | 2024 | Statements of Operations | | | | | | | | | Technology and development | $ | 117,240 | | | $ | 133,622 | | | $ | 225,332 | | | $ | 273,452 | | | Sales and marketing | 14,533 | | | 16,691 | | | 29,438 | | | 33,314 | | | General and administrative | 64,387 | | | 67,621 | | | 132,119 | | | 135,672 | | | Total stock-based compensation expense | $ | 196,160 | | | $ | 217,934 | | | $ | 386,889 | | | $ | 442,438 | | | | | | | | | | Balance Sheets | | | | | | | | Other non-current assets(1) | $ | 12,020 | | | $ | 12,435 | | | $ | 28,585 | | | $ | 23,500 | |
_______________ (1)Represents capitalized stock-based compensation that is recognized in Software and equipment, net and presented within this financial statement line item. See Note 10. Other Condensed Consolidated Balance Sheets Details for additional details.
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