v3.26.1
STOCKHOLDERS’ EQUITY (Tables)
 6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
Schedule of Share Repurchase Activity
The following table summarizes the share repurchase activity under the Company’s stock repurchase program during the six months ended June 30, 2026 (in thousands, except share and per share data):
Total Number of Shares PurchasedAverage Price Per ShareAmount
First Quarter 20261,014,873 $98.53 $100,000 
Second Quarter 2026534,004 $117.42 $62,702 
Total1,548,877 $105.05 $162,702 
Schedule of Reserved Shares of Common Stock for Issuance
As of June 30, 2026, the Company’s common stock reserved for issuance in the future is as follows (in thousands):
Common stock awards granted under equity incentive plans8,384 
Common stock awards available for issuance under the 2017 Employee Stock Purchase Plan *5,089 
Common stock awards available for issuance under the 2017 Amended and Restated Equity Incentive Plan39,979 
Total reserved shares of common stock53,452 
* The Company has not issued any common stock pursuant to the 2017 Employee Stock Purchase Plan.
Summary of Restricted Stock Unit Activity
Restricted stock unit activity for the six months ended June 30, 2026 is as follows (in thousands, except per share data):
Number of
Shares
Weighted-Average
Grant Date Fair
Value per Share
Balance as of December 31, 20256,329 $75.70 
Awarded314 114.18 
Released(2,265)74.56 
Forfeited(299)75.85 
Balance as of June 30, 20264,079 $79.28 
Schedule of Stock Option Activity
Stock option activity for the six months ended June 30, 2026 is as follows (in thousands, except per share data and years):
Number of
Shares
Weighted-Average
Exercise
Price
Weighted-Average Remaining Contractual Life (Years)
Aggregate
Intrinsic
Value
Balance as of December 31, 20255,100 $82.85 6.0
Granted19 121.05 
Exercised(812)45.06 
Forfeited and expired(2)61.06 
Balance as of June 30, 20264,305 $90.15 5.8$258,127 
Options exercisable as of June 30, 20263,643 $93.84 5.3$212,847 
Schedule of Share-based Compensation Expense
The following table presents the total stock-based compensation expense for the three and six months ended June 30, 2026 and 2025 (in thousands):
Three Months EndedSix Months Ended
June 30, 2026June 30, 2025June 30, 2026June 30, 2025
Cost of revenue, platform$208 $341 $402 $725 
Cost of revenue, devices— 38 — 108 
Research and development27,005 32,961 56,500 68,819 
Sales and marketing27,347 30,486 54,731 65,272 
General and administrative20,761 20,814 42,370 45,210 
Total stock-based compensation$75,321 $84,640 $154,003 $180,134