Our restricted stock units (“RSUs”) and restricted stock awards (“RSAs”) vest based on the terms in the grant agreements and generally vest ratably over one to four years from the vesting commencement date. The following table summarizes the RSU and RSA activity for the six months ended June 30, 2026:


	Total RSUs and RSAs	Weighted- average grant date fair value
Unvested as of December 31, 2025	4,460,851	$	58.71
Granted	2,798,394	$	149.70
Vested	(2,323,949)	$	73.54
Canceled/Forfeited	(199,779)	$	93.48
Unvested as of June 30, 2026	4,735,517	$	103.73

As of June 30, 2026, we had RSUs and RSAs outstanding for 4,735,517 common shares, of which 4,361,703 relate to Class A common stock and 373,814 relate to Class B common stock. Total unrecognized stock-based compensation expense related to RSUs and RSAs was $397.3 million as of June 30, 2026 and is expected to be recognized over a weighted-average period of 0.89 years.

Stock options vest based on terms in the stock option agreement and generally vest over five years quarterly or four years with 25% of the award vesting one year from the vesting commencement date then ratably over the following three years. The following table summarizes the stock option activity during the six months ended June 30, 2026:


	Outstanding stock options	Weighted- average exercise price		Weighted- average remaining contractual life (years)	Aggregate intrinsic value
	(in thousands, except share, per share, and year data)
Balance as of December 31, 2025	10,852,131	$	38.38	7.14	$	2,078,120

Exercised	(859,563)	11.57

Balance as of June 30, 2026	9,992,568	$	40.68	6.91	$	1,327,993
Vested as of June 30, 2026	5,540,026	$	37.09	6.44	$	756,131
Vested and expected to vest as of June 30, 2026	9,992,568	$	40.68	6.91	$	1,327,993

As of June 30, 2026, we had outstanding stock options for 9,992,568 common shares, of which 8,505,974 relate to Class A common stock and 1,486,594 relate to Class B common stock. Total unrecognized stock-based compensation expense related to stock options was $69.3 million as of June 30, 2026 and is expected to be recognized over a weighted-average period of 2.49 years.

The following table summarizes the components of stock-based compensation expense recognized in the consolidated statements of operations for all periods presented:


	Three months ended June 30,				Six months ended June 30,
	2026		2025		2026		2025
	(in thousands)
Cost of revenue	$	253	$	204	$	398	$	421
Research and development	$	65,857	56,663		108,267		109,273
Sales and marketing	$	12,079	10,198		17,902		20,336
General and administrative	$	22,763	22,005		42,721		44,454
Stock-based compensation expense	$	100,952	$	89,070	$	169,288	$	174,484