Stock-Based Compensation (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Share-Based Payment Arrangement [Abstract] |
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| Schedule of Costs Related to Company's Stock-based Compensation Plan |
Stock-based compensation expense by function, as below, are included in the unaudited consolidated statements of income:
| | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended June 30, | | Six months ended June 30, | | | 2026 | | 2025 | | 2026 | | 2025 | | Cost of revenues | $ | 3,577 | | | $ | 3,421 | | | $ | 6,593 | | | $ | 6,908 | | | General and administrative expenses | 10,708 | | | 6,617 | | | 20,031 | | | 13,803 | | | Selling and marketing expenses | 10,346 | | | 6,354 | | | 20,108 | | | 14,868 | | | Total | $ | 24,631 | | | $ | 16,392 | | | $ | 46,732 | | | $ | 35,579 | | | | | | | | | | Income tax benefit related to share-based compensation(1) | $ | 6,097 | | | $ | 4,211 | | | $ | 7,413 | | | $ | 13,316 | |
(1) Includes $(17) and $203 during the three months ended June 30, 2026 and 2025, respectively, and $1,263 and $14,728 during the six months ended June 30, 2026 and 2025, respectively, related to discrete benefits recognized in income tax expense in accordance with ASU No. 2016-09, Compensation - Stock Compensation.
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| Share-Based Payment Arrangement, Option, Activity |
Stock option activity under the Company’s stock-based compensation plans is shown below:
| | | | | | | | | | | | | | | | | | | | | | | | | Number of Options | | Weighted Average Exercise Price | | Aggregate Intrinsic Value | | Weighted Average Remaining Contractual Life (Years) | | Outstanding as of December 31, 2025 | 1,734,720 | | | $ | 30.14 | | | $ | 21,344 | | | 7.5 | | Granted | — | | | — | | | — | | | — | | | Exercised | — | | | — | | | — | | | — | | | Forfeited | — | | | — | | | — | | | — | | | Outstanding as of June 30, 2026 | 1,734,720 | | | $ | 30.14 | | | $ | — | | | 7.0 | | Vested and exercisable as of June 30, 2026 | 1,264,700 | | | $ | 30.14 | | | $ | — | | | 7.0 | Weighted average grant date fair value of per unit of stock option granted during the period | $ | — | | | | | | | |
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| Restricted Stock Activity Under Company's Stock Plans |
Restricted stock unit activity under the Company’s stock-based compensation plans is shown below: | | | | | | | | | | | | | | Restricted Stock Units | | | Number | | Weighted Average
Fair Value | Outstanding as of December 31, 2025(1) | 2,789,601 | | | $ | 37.65 | | | Granted | 1,653,889 | | | 30.83 | | | Vested | (1,047,510) | | | 34.64 | | | Forfeited | (116,947) | | | 36.36 | | Outstanding as of June 30, 2026(1) | 3,279,033 | | | $ | 35.22 | |
(1) As of June 30, 2026 and December 31, 2025 restricted stock units vested for which the underlying common stock is yet to be issued are 328,139 and 348,636, respectively. PRSU activity under the Company’s stock plans is shown below:
| | | | | | | | | | | | | | | | | | | | | | | | | | Revenue Based PRSUs | | Market Condition Based PRSUs | | | Number | | Weighted Average
Fair Value | | Number | | Weighted Average
Fair Value | | Outstanding as of December 31, 2025 | 696,439 | | | $ | 39.20 | | | 841,966 | | | $ | 56.31 | | | Granted | 409,256 | | | 30.90 | | | 613,778 | | | 36.42 | | | Vested | — | | | — | | | — | | | — | | | Forfeited | (15,147) | | | 37.03 | | | (22,710) | | | 53.63 | | | Outstanding as of June 30, 2026 | 1,090,548 | | | $ | 36.12 | | | 1,433,034 | | | $ | 47.83 | |
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| Schedule of Share-Based Compensation, Employee Stock Purchase Plan, Activity |
Activity under the Company’s 2022 ESPP is shown below:
| | | | | | | | | | | | | | | | | Number | | Total Proceeds Received | | Shares available for issuance as of December 31, 2025 | | 3,510,269 | | | | | | | | | Issuance of common stock made during the seventh offering period | | 60,139 | | $ | 2,297 | | | Shares available for issuance as of June 30, 2026 | | 3,450,130 | | | | Issuance of common stock related to the eighth offering period made subsequent to June 30, 2026 | | 146,650 | | $ | 3,413 | | | | | | |
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