v3.26.1
Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Summary of Stock-Based Compensation Expense
Stock-based compensation expense for restricted stock units (“RSUs”), performance-based restricted stock units (“PSUs”), stock options, purchase rights issued under our employee stock purchase plan, and earnout consideration and key employee consideration shares related to acquisitions was classified in the accompanying unaudited condensed consolidated statements of operations as follows (in thousands):
Three Months Ended March 31,
20262025
Stock-based compensation expense:
Cost of revenue$1,716 $2,264 
Research and development8,406 10,386 
Sales and marketing5,071 7,241 
General and administrative4,697 7,260 
Total stock-based compensation expense$19,890 $27,151 
Summary of Restricted Stock and Restricted Stock Unit Activity
RSUs and PSUs activity classified as equity during the three months ended March 31, 2026 was as follows:
SharesWeighted
Average
Grant Date
Fair Value
Unvested balance as of December 31, 20253,970,517 $33.48 
Granted3,084,595 6.43 
Vested(462,447)50.47 
Forfeited(478,009)33.93 
Unvested balance as of March 31, 20266,114,656 $18.51 
Summary of Performance Stock Unit Activity Classified as Liability
PSUs activity classified as liability during the three months ended March 31, 2026 was as follows:
SharesWeighted
Average
Grant Date
Fair Value
Unvested balance as of December 31, 2025— $— 
Granted2,188,750 2.00 
Unvested balance as of March 31, 20262,188,750 $2.00 
Summary of Share-Based Payment Arrangement, Option, Exercise Price Range The stock price thresholds and related payout percentages between the two plans are as follows:
Price Hurdles
Below $15.00$15.00$17.50$20.00$25.00$30.00 or Higher
Plan 1—%50 %75%100%125%150%
Plan 2—%— %—%100%125%150%
Summary of Derivative Liabilities at Fair Value The following table summarizes the assumptions used in the Monte Carlo simulation model to estimate the fair value of the liability-classified PSUs as of March 31, 2026:
Grant Date
Plan 1Plan 2
Expected term (in years)33
Expected volatility50.1%50.1%
Risk-free interest rate3.85%3.85%
Expected dividend yield—%—%
Fair value per unit$2.37$1.81
Summary of Stock Option Activity
The following tables summarizes information about stock option activity during the reporting periods:
SharesWeighted
Average
Exercise
Price		Weighted
Average
Remaining
Contractual Life
(in years)		Aggregate
Intrinsic
Value
(in thousands)
Outstanding as of December 31, 2025223,232 $13.38 $498 
Forfeited/cancelled(2,000)12.80 
Outstanding as of March 31, 2026221,232 13.39 0.73— 
Vested and exercisable as of March 31, 2026221,232 $13.39 0.73$—