Equity Incentive Plans (Tables)
|
3 Months Ended |
Mar. 31, 2026 |
|---|
| Share-Based Payment Arrangement [Abstract] |
|
| Summary of Changes in Shares Available for Grant |
Changes in shares available for grant during the three months ended March 31, 2026 were as follows:
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Shares Available for Grant |
|
Shares available for grant at December 31, 2025 |
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11,542,119 |
|
2019 Equity Incentive Plan reserve increase effective January 1, 2026 |
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|
7,688,970 |
|
Stock options and restricted stock units granted and the maximum performance-based and market-based restricted stock units granted eligible to be earned |
|
|
(3,249,296 |
) |
Stock options, restricted stock units and performance-based restricted stock units forfeited or expired |
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|
541,526 |
|
Shares available for grant at March 31, 2026 |
|
|
16,523,319 |
|
|
| Summary of Stock Option Activity Under 2009 Plan and 2019 Plan |
Stock option activity under the 2009 Plan and 2019 Plan during the three months ended March 31, 2026 was as follows:
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Shares Subject to
Outstanding Stock Options |
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Weighted-Average Exercise
Price per Share |
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Aggregate Intrinsic Value
(in thousands) |
|
Stock options outstanding at December 31, 2025 |
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|
10,044,260 |
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|
$ |
16.22 |
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|
|
|
Stock options forfeited |
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|
(1,109 |
) |
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|
12.76 |
|
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|
|
Stock options expired |
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(15,192 |
) |
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|
40.41 |
|
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|
|
Stock options exercised |
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|
(655,786 |
) |
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|
7.83 |
|
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|
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Stock options outstanding at March 31, 2026 |
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|
9,372,173 |
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|
$ |
16.77 |
|
|
$ |
35,878 |
|
Stock options vested and exercisable at March 31, 2026 |
|
8,353,536 |
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|
$ |
17.99 |
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|
$ |
28,610 |
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| Summary of Restricted Stock Unit and Market-Based Restricted Stock Units Activity |
Restricted stock unit activity under the 2019 Plan during the three months ended March 31, 2026 was as follows:
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Restricted Stock Units
Outstanding |
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Weighted-Average Grant Date
Fair Value per Share |
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Nonvested restricted stock units outstanding at December 31, 2025 |
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|
11,245,666 |
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|
$ |
7.26 |
|
Restricted stock units granted |
|
2,041,792 |
|
|
|
16.44 |
|
Restricted stock units forfeited |
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|
(400,249 |
) |
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|
7.52 |
|
Restricted stock units vested |
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|
(3,843,577 |
) |
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|
7.71 |
|
Nonvested restricted stock units outstanding at March 31, 2026 |
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|
9,043,632 |
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|
$ |
9.13 |
|
Market-based restricted stock unit activity under the 2019 Plan during the three months ended March 31, 2026 was as follows:
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Maximum Market-Based Restricted
Stock Units Outstanding |
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|
Weighted-Average Grant Date
Fair Value per Share |
|
Nonvested maximum market-based restricted stock units outstanding at December 31, 2025 |
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|
5,356,880 |
|
|
$ |
11.07 |
|
Maximum market-based restricted stock units granted |
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|
603,758 |
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|
|
27.15 |
|
Market-based restricted stock units vested |
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|
(1,418,440 |
) |
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|
13.82 |
|
Nonvested maximum market-based restricted stock units outstanding at March 31, 2026 |
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4,542,198 |
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|
$ |
12.35 |
|
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| Summary of Compensation Costs Related to Stock Options and RSUs Included on Unaudited Condensed Consolidated Statements of Operations |
The compensation cost related to stock options, restricted stock units, performance-based restricted stock units and market-based restricted stock units for the three months ended March 31, 2026 and 2025 are included on the unaudited condensed consolidated statements of operations as follows (in thousands):
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Three Months Ended March 31, |
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2026 |
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2025 |
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Cost of revenue |
|
$ |
713 |
|
|
$ |
879 |
|
Research and development |
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|
3,471 |
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|
4,058 |
|
Sales and marketing |
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|
3,229 |
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|
3,144 |
|
General and administrative |
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|
4,515 |
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|
4,066 |
|
Total share-based compensation expense |
|
$ |
11,928 |
|
|
$ |
12,147 |
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| Schedule of Unrecognized Share-Based Compensation Expense and the Remaining Weighted-Average Recognition Period |
As of March 31, 2026, unrecognized share-based compensation expense and the remaining weighted-average recognition period were as follows:
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Unrecognized Share-Based
Compensation Expense
(in thousands) |
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Remaining Weighted-Average
Recognition Period
(in years) |
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Nonvested stock options |
|
$ |
4,490 |
|
|
|
2.29 |
|
Nonvested restricted stock units |
|
|
78,814 |
|
|
|
3.00 |
|
Nonvested performance-based restricted stock units |
|
|
4,841 |
|
|
|
2.93 |
|
Nonvested market-based restricted stock units |
|
|
18,674 |
|
|
|
2.25 |
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