v3.25.2
Stock-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity
A summary of stock option activity under the 2012 Plan and the 2021 Plan, including 1.1 million stock options that were granted outside of the 2012 Plan in 2019, is presented below (in millions, except share and per share amounts):
 Number of
Options 		Weighted Average
Exercise Price		Weighted Average
Remaining
Contract Term
(in years)
Aggregate Intrinsic Value (1)
Balance as of December 31, 2024
33,683,424 $6.02 4.4$30.2 
Granted— — 
Exercised(2,118,930)3.15 
Forfeited(500,729)7.41 
Balance as of June 30, 2025
31,063,765 $6.20 4.1$28.9 
Exercisable and vested at June 30, 2025
29,861,990 $6.09 4.0$28.5 
(1)The aggregate intrinsic values have been calculated using the Company’s closing stock prices of $6.28 and $5.85 as of June 30, 2025 and December 31, 2024, respectively.
Schedule of Restricted Stock Units Activity
A summary of RSU activity under the 2012 Plan and the 2021 Plan is presented below:
 Number of AwardsWeighted Average Grant Date Fair Value
Balance as of December 31, 2024
27,889,410 $4.73 
Granted40,838,060 7.87 
Vested and converted to common stock (1)
(11,279,162)4.45 
Forfeited(2,314,379)5.98 
Balance as of June 30, 2025
55,133,929 $7.06 
(1)During the six months ended June 30, 2025, the Company net settled all RSUs through which it issued an aggregate of 11.3 million shares of Class A common stock and withheld an aggregate of 4.0 million shares of Class A common stock to satisfy $28.6 million of tax withholding obligations on behalf of the Company’s employees.
Schedule of Total Stock-Based Compensation Expense
Total stock-based compensation expense included in the condensed consolidated statements of operations for the three and six months ended June 30, 2025 and 2024 is as follows (in millions):
 Three Months Ended June 30,Six Months Ended June 30,
 2025202420252024
Sales and marketing$8.8 $8.3 $15.6 $16.2 
Operations and support9.7 4.4 14.4 8.1 
Research and development25.4 15.2 38.3 30.1 
General and administrative11.3 3.0 17.3 9.4 
Total stock-based compensation expense$55.2 $30.9 $85.6 $63.8