v3.26.1
Stock-Based Compensation
 6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Stock-Based Compensation
A summary of stock-based compensation expense recognized in the condensed consolidated statements of operations and comprehensive income is as follows (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Cost of revenue$1,692 $353 $2,191 $315 
Research and development36,413 17,852 65,817 37,038 
Sales and marketing11,419 9,194 21,311 21,513 
General and administrative14,468 8,075 23,586 19,054 
Total(1)
$63,992 $35,474 $112,905 $77,920 
(1) Stock-based compensation expense for the three and six months ended June 30, 2026 did not include the $4.0 million in share-based consideration related to acquisitions, see Note 6 - Business Combinations for further details.
Stock Options
A summary of stock option activity under the 2018 Plan and 2024 Plan is as follows (in thousands, except years and per share data):
Number of
Shares		Weighted
Average
Exercise
Price		Weighted Average Remaining Contractual Term (in years)Aggregate
Intrinsic
Value
Outstanding as of December 31, 20252,721$0.86 5.5$450,336 
Exercised(1,028)0.81 
Outstanding as of June 30, 20261,693$0.89 5.0$816,380 
Vested and expected to vest as of June 30, 20261,693$0.89 

5.0

$816,380 
Exercisable as of June 30, 20261,668$0.90 5.0$804,240 
As of June 30, 2026, there was approximately $0.5 million of total unrecognized compensation cost, related to unvested stock options, which is expected to be recognized over a weighted-average remaining requisite service period of 1.0 years, using the straight-line method.
Restricted Stock Units (“RSUs”)
A summary of RSU activity under the 2018 Plan and 2024 Plan is as follows (in thousands, except per share data):
Number of
Restricted Stock
Units		Weighted
Average Grant
Date Fair Value
 (per share)
Outstanding as of December 31, 20259,354$51.39 
Granted2,240182.89 
Vested(2,089)36.79 
Cancelled and forfeited(325)94.55 
Outstanding as of June 30, 20269,180$85.27 
As of June 30, 2026, there was $640.1 million of unrecognized stock-based compensation expense related to unvested RSUs, which is expected to be recognized over a weighted-average period of 2.0 years.
Performance Stock Units (“PSUs”)
A summary of PSU activity under the 2024 Plan is as follows (in thousands, except per share data):
Number of
Performance Stock
Units
Weighted
Average Grant
Date Fair Value
( per share)
Outstanding as of December 31, 2025177$126.64 
Granted220154.08 
Vested(4)152.44 
Cancelled and forfeited(18)126.16 
Outstanding as of June 30, 2026375$142.44 
As of June 30, 2026, there was $40.3 million of unrecognized stock-based compensation expense related to these PSUs, which is expected to be recognized over a weighted-average period of 2.1 years.