v3.26.1
Stockholders’ Equity and Stock-Based Compensation
 6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Stockholders’ Equity and Stock-Based Compensation Stockholders’ Equity and Stock-Based Compensation
Stock Repurchase Program
In May 2025 our board of directors authorized a $1.5 billion stock repurchase program (the “Repurchase Program”). This authorization allows us to repurchase shares of our common stock that will be funded from working capital. Repurchases may be made at management's discretion from time to time on the open market, through privately negotiated transactions, transactions structured through investment banking institutions, block purchases, trading plans under Rule 10b5-1 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or a combination of the foregoing. The Repurchase Program does not obligate us to acquire any of our common stock and may be suspended or discontinued by the Company at any time without prior notice. We did not repurchase any shares during the six months ended June 30, 2026. As of June 30, 2026, the remaining authorized amount for repurchases under the Repurchase Program was $817.9 million.
Equity Award Plan Activities
Restricted Stock Unit (RSU) Activities
    A summary of the RSU activity is presented below (in millions, except years and per share amounts):
Number of
Shares		Weighted-
Average Grant
Date Fair Value Per Share
Unvested balance—December 31, 202528.1 $69.81 
              RSUs granted1.4 139.92 
              RSUs vested(4.2)52.99 
              RSUs forfeited/canceled(0.7)65.93 
Unvested balance—June 30, 202624.6 $77.36 
Stock-Based Compensation Expense
    The following table summarizes the stock-based compensation expense related to our equity awards (in millions):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Cost of revenue $7.4 $5.8 $14.4 $11.3 
Research and development 70.1 53.2 142.3 110.2 
Sales and marketing
32.2 18.8 62 38.7 
General and administrative 10.7 7.4 22.6 18.0 
              Total stock-based compensation $120.4 $85.2 $241.3 $178.2 
    As of June 30, 2026, there were $1.5 billion of unamortized compensation costs related to all unvested awards. The unamortized compensation costs are expected to be recognized over a weighted-average period of approximately 3.9 years.