v3.25.4
Stockholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2025
Stockholders' Equity Note [Abstract]  
Summary of Common Stock Reserved for Future Issuance
The Company has reserved the following shares of common stock for future issuance (in thousands):
December 31, 2025December 31, 2024
2014 Stock Plan:
Options outstanding15,09523,143
Restricted stock units outstanding—278
2021 Equity Incentive Plan:
Options outstanding2323
Restricted stock units outstanding18,43620,278
Remaining shares available for future issuance49,26044,280
2021 Employee Stock Purchase Plan12,06710,138
Total94,88198,140
Summary of Stock Equity Award Activity
The following table summarizes stock option activity under the 2014 Plan and the 2021 Plan:
Stock Options Outstanding
Number of Shares
(in thousands)
Weighted-Average
Exercise Price
Weighted-Average Remaining Contractual Term
(in years)
Aggregate Intrinsic Value
(in thousands)
Balance as of December 31, 202423,166$7.97 4.95$463,750 
Stock options exercised(7,877)$7.22 
Stock options forfeited or expired(171)$17.58 
Balance as of December 31, 202515,118$8.25 3.93$333,039 
Vested and expected to vest as of December 31, 202515,118$8.25 3.93$333,039 
Vested and exercisable as of December 31, 202515,118$8.25 3.93$333,039 
Schedule of Restricted Stock Unit Activity
The following table summarizes RSU activity under the 2014 Plan and the 2021 Plan:
RSUs Outstanding
Number of Shares
(in thousands)
Weighted-Average
Grant Date
Fair Value
Unvested balance as of December 31, 202420,556$26.97 
RSUs granted16,146$25.08 
RSUs vested(13,954)$27.31 
RSUs forfeited or cancelled(4,312)$27.64 
Unvested balance as of December 31, 202518,436$24.90 
Schedule of Weighted-Average Assumptions to Estimate Fair Value of Employee Stock Purchase Rights
The fair value of employee stock purchase rights for offerings under the 2021 ESPP were estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions:
Year Ended December 31,
202520242023
Expected term (in years)
0.49 - 0.99
0.50 - 1.00
0.49 - 1.00
Expected volatility
54.4% - 84.5%
51.3% - 71.2%
58.5% - 79.7%
Risk-free interest rate
3.9% - 4.3%
4.5% - 5.3%
5.0% - 5.5%
Expected dividend yield0%0%0%
Summary of Stock-Based Compensation Expense
Total stock-based compensation expense was as follows (in thousands):
Year Ended December 31,
202520242023
Cost of revenue - subscription$26,850 $27,133 $25,620 
Cost of revenue - services6,659 9,306 11,096 
Research and development187,147 166,468 139,809 
Sales and marketing123,135 134,015 124,568 
General and administrative53,534 58,738 48,740 
Stock-based compensation, net of amounts capitalized$397,325 $395,660 $349,833 
Capitalized stock-based compensation16,623 19,891 17,943 
Total stock-based compensation$413,948 $415,551 $367,776