STOCKHOLDERS' EQUITY (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 Stock Option Activity |
The following table summarizes the stock option activity during the six months ended June 30, 2026: | | | | | | | | | | | | | Number of
Shares | | Weighted-
Average
Exercise Price | | Outstanding at December 31, 2025 | 2,064,273 | | $ | 13.05 | | | Exercised | (531,931) | | 8.30 | | | Cancelled/Forfeited | (509) | | 19.23 | | | Outstanding at June 30, 2026 | 1,531,833 | | 14.70 | | | Exercisable at June 30, 2026 | 1,531,833 | | $ | 14.70 | |
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| Schedule of Activity in Connection with RSUs |
The following table summarizes the RSU activity during the six months ended June 30, 2026: | | | | | | | | | | | | | Number of
Shares | | Weighted-
Average Grant
Date Fair Value | | Outstanding at December 31, 2025 | 6,431,468 | | $ | 68.18 | | | Granted | 3,364,131 | | 57.10 | | | Vested | (1,620,194) | | 64.80 | | | Canceled/Forfeited | (830,113) | | 67.02 | | | Outstanding at June 30, 2026 | 7,345,292 | | $ | 63.98 | |
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| Schedule of Fair Value Assumptions for MSUs |
To determine the fair value of MSUs on the date of grant, the Company utilizes a Monte Carlo simulation with the following assumptions: | | | | | | | Risk-free interest rate | 3.55% to 3.77% | | Expected term (in years) | 3.0 to 3.1 | | Estimated dividend yield | 0.00% | | Estimated weighted-average volatility | 42.75% to 43.51% |
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| Schedule of Activity in Connection with PSUs and MSUs |
The following table summarizes the PSU and MSU activity during the six months ended June 30, 2026: | | | | | | | | | | | | | Number of
Shares | | Weighted-
Average Grant
Date Fair Value | | Outstanding at December 31, 2025 | 605,053 | | $ | 103.05 | | Granted (1) | 636,035 | | 90.45 | | | Vested | (72,873) | | 73.77 | | | Canceled/Forfeited | (6,424) | | 79.16 | | | Outstanding at June 30, 2026 | 1,161,791 | | $ | 98.12 | |
(1) This represents awards granted at 100% attainment of the performance conditions.
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| Schedule of Fair Value of ESPP Purchase Rights on Date of Grant |
The fair value of the ESPP purchase rights on the date of grant using the Black-Scholes option pricing model was estimated using the following assumptions during the six months ended June 30, 2026: | | | | | | | Risk-free interest rate | 3.74% to 3.78% | | Expected term (in years) | 0.5 to 1.0 | | Estimated dividend yield | 0.00% | | Estimated weighted-average volatility | 46.99% to 52.77% |
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| Schedule of Total Stock-based Compensation Cost from Stock Options, RSUs, ESPP, RSAs, and Sales of Stock |
The Company recorded total stock-based compensation cost from stock options, RSUs, PSUs, and the ESPP as follows (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | 2026 | | 2025 | | 2026 | | 2025 | | Cost of revenue | $ | 2,556 | | | $ | 3,204 | | | $ | 5,175 | | | $ | 5,956 | | | Sales and marketing | 18,045 | | | 17,473 | | | 38,518 | | | 32,307 | | | Research and development | 21,989 | | | 21,230 | | | 40,537 | | | 39,602 | | | General and administrative | 14,166 | | | 13,670 | | | 29,526 | | | 25,991 | | | Total stock-based compensation expense | $ | 56,756 | | | $ | 55,577 | | | $ | 113,756 | | | $ | 103,856 | | | Stock-based compensation capitalized for software development and cloud-computing arrangement implementation costs | 4,798 | | | 5,060 | | | 9,135 | | | 9,183 | | | Total stock-based compensation cost | $ | 61,554 | | | $ | 60,637 | | | $ | 122,891 | | | $ | 113,039 | |
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