Common Stock, Equity Incentive Plans and Stock-Based Compensation (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Share-Based Payment Arrangement [Abstract] |
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| Summary of Stock-Based Compensation Expense |
Stock-based compensation expense for the three and six months ended June 30, 2026, and 2025 were as follows (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | | 2026 | | 2025 | | 2026 | | 2025 | | Cost of revenue | | $ | 1,128 | | | $ | 16,441 | | | $ | 1,965 | | | $ | 16,441 | | | Research and development | | 7,118 | | | 248,809 | | | 10,551 | | | 248,809 | | | Sales and marketing | | 5,965 | | | 95,050 | | | 9,969 | | | 95,050 | | | General and administrative | | 4,881 | | | 230,683 | | | 8,299 | | | 230,690 | | | Total stock-based compensation expense | | $ | 19,092 | | | $ | 590,983 | | | $ | 30,784 | | | $ | 590,990 | |
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| Summary of the RSU and PRSU Activity |
The following is a summary of the Company’s RSU and PRSU activity during the six months ended June 30, 2026: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Number of Restricted Stock Units | | Weighted Average Grant-Date Fair Value (per share) | | Number of Performance-Based Restricted Stock Units | | Weighted Average Grant-Date Fair Value (per share) | | Outstanding as of December 31, 2025 | | 5,043,604 | | $ | 32.02 | | | 5,693,602 | | $ | 21.84 | | | Granted | | 2,762,316 | | 43.85 | | | — | | | — | | | Vested | | (1,035,952) | | 31.30 | | | (26,600) | | 42.93 | | | Forfeited | | (533,023) | | 32.26 | | | — | | | — | | | Outstanding as of June 30, 2026 | | 6,236,945 | | 37.36 | | | 5,667,002 | | 21.74 | |
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| Summary of the Stock Options |
A summary of the stock options and changes during the six months ended June 30, 2026 are presented below: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Number of Options | | Weighted-Average Exercise Price (per share) | | Weighted Average Remaining Contractual Life (years) | | Aggregate Intrinsic Value (in thousands) | | Balances at December 31, 2025 | | 1,363,995 | | $ | 1.64 | | | 3.4 | | $ | 61,121 | | | Options exercised | | (484,625) | | 1.41 | | | | | | | Options forfeited | | (1,714) | | 6.56 | | | | | | | Balances at June 30, 2026 | | 877,656 | | $ | 1.75 | | | 3.5 | | $ | 71,311 | | | Options exercisable at June 30, 2026 | | 877,656 | | $ | 1.75 | | | 3.5 | | $ | 71,311 | | | Options vested at June 30, 2026 | | 877,656 | | $ | 1.75 | | | 3.5 | | $ | 71,311 | |
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| Schedule of Estimated Fair Value of Each Employee Stock Purchase Plan (ESPP) Share |
The fair value of each ESPP share is estimated on the enrollment date of the most recent offering period using the Black-Scholes-Merton option-pricing model and the assumptions noted in the following table: | | | | | | | | | | | | | | | | | June 30, 2026 | | | Six Months | | 1 Year | | Risk-free interest rate | | 3.7 | % | | 3.8 | % | | Expected volatility | | 55.7 | % | | 65.6 | % | | Expected term (in years) | | 0.5 | | 1.0 | | Expected dividend rate | | 0 | % | | 0 | % |
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| Schedule of Share-Based Payment Arrangement, Fair Value of Stock Purchase Rights Granted, By Enrollment Period |
The Company has two open enrollment periods under the ESPP which are presented below: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2026 | | | Enrollment Period 1 | | Enrollment Period 2 | | | 6 months | | 12 months | | 6 months | | 12 months | | Enrollment date | | May 2026 | | May 2026 | | November 2025 | | November 2025 | | Fair value per share | | $19.4 | | $23.8 | | $15.7 | | $18.3 |
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