v3.26.1
Stockholders' Equity and Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2026
Equity [Abstract]  
Schedule of Shares of Common Stock Reserved for Future Issuance
Shares of common stock reserved for future issuance were as follows (in thousands):
March 31, 2026
2021 Equity Incentive Plan(1)
87,775 
2022 Inducement Plan7,012 
2021 Employee Stock Purchase Plan18,255 
Total shares of common stock reserved for issuance113,042 
(1)Outstanding shares include the 2026 Executive PRSUs as discussed below, based on 100% achievement of target performance.
Schedule of Stock Option Activity
Stock option activity for the three months ended March 31, 2026 is as follows (in thousands, except per share data):
Share Information:Number of Shares (in thousands)Weighted-Average Exercise PriceWeighted-Average Remaining Contractual Term (in years)
Aggregate Intrinsic Value (in thousands) (1)
Balance as of December 31, 20252,332 $11.32 7.1$4,650 
Balance as of March 31, 20262,332 $11.32 6.8$5,021 
Options vested and expected to vest as of March 31, 20262,332 $11.32 6.8$5,021 
Options exercisable as of March 31, 20261,593 $13.58 6.4$52 
(1)Aggregate intrinsic value for stock options represents the difference between the exercise price and the per share fair value of our common stock as of the end of the period, multiplied by the number of stock options outstanding, exercisable, or vested.
Schedule of Restricted Stock Unit Activity
RSU activity, which includes PRSUs, during the three months ended March 31, 2026 was as follows:
Share Information:Number of SharesWeighted-Average Grant Date Fair Value Per Share
Unvested, as of December 31, 202521,936 $14.98 
Granted
18,531 $11.19 
Vested (1)
(1,983)$15.87 
Forfeited/Cancelled
(1,783)$13.62 
Unvested, as of March 31, 2026
36,701 $13.09 
(1) During the three months ended March 31, 2026, total shares that vested were 2.0 million, of which 0.7 million were withheld for tax purposes.
Schedule of Stock-Based Compensation Expense
Total stock-based compensation expense recorded for the three months ended March 31, 2026 and 2025 was as follows (in thousands):
Three Months Ended March 31,
20262025
Cost of revenue$1,618 $1,518 
Research and development(1)
12,301 9,213 
Sales and marketing
13,000 13,409 
General and administrative(2)
17,002 27,524 
Stock-based compensation, net of amounts capitalized43,921 51,664 
Capitalized stock-based compensation711 692 
Total stock-based compensation expense
$44,632 $52,356 
(1)     Stock-based compensation expense recorded to research and development in the condensed consolidated statements of operations excludes amounts that were capitalized primarily for internal-use software.
(2)    General and administrative expense includes stock-based compensation associated with RSUs and PRSUs granted to our former Executive Chairman of $11.3 million for the three months ended March 31, 2025.
Schedule of Unrecognized Stock-Based Compensation Expense Related to Unvested Stock-Based Awards
As of March 31, 2026, unrecognized stock-based compensation expense related to unvested stock-based awards was as follows (in thousands, except for period data):
March 31, 2026
Unrecognized Stock-Based CompensationWeighted-Average Period to Recognize Expense
(in years)
RSUs and PRSUs$428,149 3.0
Stock options1,740 0.3
ESPP4,831 1.0
Total unrecognized stock-based compensation expense$434,720