Stock-Based Compensation Expense (Tables)
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12 Months Ended |
Dec. 31, 2025 |
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| Share-Based Payment Arrangement [Abstract] |
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| Schedule of Stock-based Compensation Expense |
Stock-based compensation expense was as follows (in thousands): | | | | | | | | | | | | | | | | | | | Year Ended December 31, | | 2025 | | 2024 | | 2023 | Infrastructure and trust & safety | $ | 142,353 | | | $ | 113,708 | | | $ | 92,147 | | Research and development | 764,124 | | | 723,326 | | | 607,593 | | General and administrative | 172,373 | | | 138,444 | | | 131,577 | | Sales and marketing | 50,154 | | | 40,316 | | | 36,650 | | Total stock-based compensation expense | $ | 1,129,004 | | | $ | 1,015,794 | | | $ | 867,967 | |
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| Schedule of the Stock Option Activity |
The following table summarizes the Company’s stock option activity (in thousands, except per option data and remaining contractual term): | | | | | | | | | | | | | | | | | | | | | | | | | Stock Options Outstanding | | Number of
Shares
Subject to
Options | | Weighted-
Average
Exercise
Price (per Option) | | Weighted-Average Remaining
Contractual
Term
(Years) | | Aggregate Intrinsic Value | Balances as of December 31, 2022 | 51,591 | | | $ | 2.85 | | | 6.00 | | $ | 1,321,183 | | Granted | — | | | — | | | | | | Cancelled, forfeited, and expired | (762) | | | $ | 4.60 | | | | | | Exercised | (10,670) | | | $ | 2.23 | | | | | | Balances as of December 31, 2023 | 40,159 | | | $ | 2.98 | | | 5.16 | | $ | 1,716,171 | | Granted | — | | | — | | | | | | Cancelled, forfeited, and expired | (203) | | | $ | 4.80 | | | | | | Exercised | (12,498) | | | $ | 2.75 | | | | | | Balances as of December 31, 2024 | 27,458 | | | $ | 3.08 | | | 4.24 | | $ | 1,504,261 | | Granted | — | | | — | | | | | | Cancelled, forfeited, and expired | (14) | | | $ | 5.21 | | | | | | Exercised | (18,266) | | | $ | 2.80 | | | | | | Balances as of December 31, 2025 | 9,178 | | | $ | 3.64 | | | 3.07 | | $ | 710,292 | | Exercisable as of December 31, 2025 | 9,178 | | | $ | 3.64 | | | 3.07 | | $ | 710,292 | | Vested and expected to vest at December 31, 2025 | 9,178 | | | $ | 3.64 | | | 3.07 | | $ | 710,292 | |
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| Schedule of Restricted Stock Units and Unregistered Restricted Stock Awards Activity |
The following table summarizes the Company’s RSU and PSU activity, excluding the 2024 CEO PSU Award, which is described in more detail in the following section (in thousands, except per share data): | | | | | | | | | | | | | | | | | | | | | | | | | Unvested RSUs Outstanding(1) | | Unvested Management PSUs Outstanding(2) | | Number of
Shares | | Weighted- Average Grant Date Value (per Share) | | Number of
Shares | | Weighted- Average Grant Date Value (per Share) | Unvested as of December 31, 2022 | 30,322 | | | $ | 48.73 | | | 415 | | | $ | 43.13 | | Granted | 27,377 | | | $ | 37.59 | | | 724 | | | $ | 45.70 | | Vested | (14,812) | | | $ | 45.97 | | | — | | | — | | | Cancelled | (3,041) | | | $ | 46.79 | | | (234) | | | $ | 44.99 | | Unvested as of December 31, 2023 | 39,846 | | | $ | 42.25 | | | 905 | | | $ | 44.71 | | Granted | 22,604 | | | $ | 40.54 | | | 706 | | | $ | 41.32 | | Vested | (21,241) | | | $ | 42.83 | | | — | | | — | | | Cancelled | (6,268) | | | $ | 40.68 | | | (200) | | | $ | 44.78 | | Unvested as of December 31, 2024 | 34,941 | | | $ | 41.07 | | | 1,411 | | | $ | 43.00 | | Granted | 15,361 | | | $ | 85.13 | | | 1,261 | | | $ | 57.91 | | Vested | (22,008) | | | $ | 46.43 | | | (224) | | | $ | 45.70 | | | Cancelled | (3,770) | | | $ | 42.81 | | | (622) | | | $ | 46.48 | | Unvested as of December 31, 2025 | 24,524 | | | $ | 63.59 | | | 1,826 | | | $ | 51.78 | |
(1)As of both December 31, 2025 and 2024, 0.1 million RSUs have vested, but not yet been released, under the Company's nonqualified deferred compensation plan and therefore are not considered outstanding. (2)Includes PSUs granted to certain members of management (the “Management PSUs”) in each of the years 2022 through 2025 and excludes the 2024 CEO PSU Award, which is described in more detail below. All unvested PSU grants and balances are shown at the aggregate maximum number of shares that were granted and may be earned and issued with respect to each award over its full term (up through any applicable cancellation). Stock-based compensation expense recognized related to the Management PSUs was $43.8 million, $17.7 million, and $9.6 million during the years ended December 31, 2025, 2024, and 2023, respectively.
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| Schedule of Measured Based on an Average of Our Stock Price |
The following table summarizes the various Company Stock Price Hurdles and associated awards that would have been eligible to vest over each performance period (in thousands, except Company Stock Price Hurdles): | | | | | | | | | | | | | | | | | | | Company Stock Price Hurdle | | Number of Awards Eligible to Vest | | Performance Period Commencement Dates as Measured from the Effective Date | | 1 | $ | 165.00 | | | 750 | | | 2 years | | 2 | $ | 200.00 | | | 750 | | | 3 years | | 3 | $ | 235.00 | | | 2,000 | | | 4 years | | 4 | $ | 270.00 | | | 2,000 | | | 5 years | | 5 | $ | 305.00 | | | 2,000 | | | 5 years | | 6 | $ | 340.00 | | | 2,000 | | | 5 years | | 7 | $ | 375.00 | | | 2,000 | | | 5 years |
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| Schedule of Valuation of ESPP Program |
The following table presents the assumptions used in estimating the grant date fair value of purchase rights granted under the 2020 ESPP for the offerings made in the respective years including reset and rollover: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Year Ended December 31, | | | 2025 | | 2024 | | 2023 | | Risk-free interest rate | 3.7% | - | 4.3% | | 3.9% | - | 5.3% | | 4.8% | - | 5.6% | | Expected volatility | 45.1% | - | 50.6% | | 44.4% | - | 76.1% | | 47.9% | - | 76.0% | | Dividend yield | —% | | —% | | —% | | Expected terms (in years) | 0.50 | - | 2.00 | | 0.50 | - | 2.00 | | 0.49 | - | 2.00 |
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