v3.26.1
STOCK-BASED COMPENSATION (Tables)
 6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of activity of options outstanding
The following is a summary of stock option activity, including performance-based options (in thousands, except per share and years data):
Weighted Average
Options OutstandingExercise Price Per ShareRemaining Contractual Life (Years)Aggregate Intrinsic Value
Balance at January 1, 202619,700 $25.58 4.3$3,950,983 
Exercised(1,070)10.87 
Forfeited and cancelled(13)136.20 
Balance at June 30, 202618,617 $26.35 3.9$2,253,320 
Vested and exercisable at June 30, 202614,937 $27.06 3.9$1,801,626 
Schedule of activity of RSUs outstanding
A summary of restricted stock units and performance restricted stock units activity is as follows (in thousands, except per share data):
Restricted Stock Units
Performance Restricted Stock Units
Number of Shares
Fair Value(1)
Number of Shares
Fair Value(1)
Balance at January 1, 20262,145 $247.04 643 $55.42 
Granted5,956 165.15 426 156.92 
Vested(2,140)203.75 (643)55.70 
Forfeited and cancelled(764)174.32 — — 
Balance at June 30, 20265,197 $181.70 426 $156.92 
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(1)Represents the weighted-average grant date fair value per share.
Schedule of stock based compensation
The following are the effects of stock-based compensation on the Condensed Consolidated Statements of Operations and Condensed Consolidated Balance Sheets (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Statements of Operations
Technology and development$152,917 $117,240 $313,558 $225,332 
Sales and marketing12,601 14,533 27,412 29,438 
General and administrative72,823 64,387 145,426 132,119 
Total stock-based compensation expense$238,341 $196,160 $486,396 $386,889 
Balance Sheets
Software and equipment, net(1)
$4,707 $12,020 $9,105 $28,585 
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(1)Represents capitalized stock-based compensation that was recorded to Software and equipment, net during the periods presented. See Note 13. Condensed Consolidated Balance Sheets Details for additional details.