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STOCKHOLDERS' EQUITY
 6 Months Ended
Jun. 30, 2026
Stockholders' Equity Note [Abstract]  
STOCKHOLDERS’ EQUITY STOCKHOLDERS’ EQUITY
Stock Repurchase Program
On February 10, 2026, the Company’s board of directors authorized a $500.0 million increase to its stock repurchase program, bringing the total amount of repurchases authorized under the stock repurchase program since its inception in 2017 to $2.45 billion of its outstanding common stock, $363.7 million of which remained available as of June 30, 2026. The Company may purchase shares at management’s discretion in the open market, in privately negotiated transactions, in transactions structured through investment banking institutions or a combination of the foregoing.
During the six months ended June 30, 2026, the Company repurchased 7,097,439 shares on the open market for an aggregate purchase price of $175.1 million and retired 7,013,047 shares. During the six months ended June 30, 2025, the Company repurchased 3,542,330 shares on the open market for an aggregate purchase price of $128.4 million and retired 3,612,605 shares. All purchase prices exclude the 1% excise tax on stock repurchases under the Inflation Reduction Act of 2022. As of June 30, 2026 and 2025, the Company held treasury stock balances of 117,392 and 30,585 shares, respectively, which were excluded from the outstanding share count as of such dates and subsequently retired in July of each respective year.
Equity Incentive Plans
Stock Options
A summary of stock option activity for the six months ended June 30, 2026 is as follows:
Number of Shares (in thousands)Weighted-Average Exercise PriceWeighted-Average Remaining Contractual Term (in years)Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 20252,262 $33.78 1.8$4,420 
Exercised(427)20.47 
Canceled(3)19.55 
Outstanding at June 30, 20261,832 $36.90 1.7$— 
Options vested and exercisable at June 30, 20261,832 $36.90 1.7$— 
Aggregate intrinsic value represents the difference between the closing price of the Company’s common stock as quoted on the New York Stock Exchange on a given date and the exercise price of outstanding, in-the-money options. The aggregate intrinsic value of options exercised was approximately $3.1 million and $0.4 million for the six months ended June 30, 2026 and 2025, respectively.
RSUs
RSUs include PRSUs that are subject to either (a) a market condition or (b) the achievement of performance goals. As the PRSU activity during the six months ended June 30, 2026 was not material, it is presented together with the RSU activity in the table below. A summary of RSU and PRSU activity for the six months ended June 30, 2026 is as follows (in thousands, except per share amounts):
Number of SharesWeighted-Average Grant Date Fair Value
Nonvested at December 31, 20254,898 $38.72 
Granted3,997 28.65 
Vested(1)
(1,946)34.74 
Canceled(575)36.47 
Nonvested at June 30, 2026(2)
6,374 $33.82 
Expected to vest at June 30, 2026(2)
6,347 $33.86 
(1)    Includes approximately 0.8 million shares that vested but were not issued due to the Company’s use of net share settlement for payment of employee taxes.
(2)    Includes approximately 0.8 million PRSUs.
The aggregate fair value as of the vest date of RSUs and PRSUs that vested during the six months ended June 30, 2026 and 2025 was $42.6 million and $83.2 million, respectively. As of June 30, 2026, the Company had approximately $192.4 million of unrecognized stock-based compensation expense related to RSUs and PRSUs, which it expects to recognize over the remaining weighted-average vesting period of approximately 2.5 years.
Employee Stock Purchase Plan
There were 554,673 shares purchased by employees under the Company’s 2012 Employee Stock Purchase Plan, as amended (the “ESPP”), at a weighted-average purchase price of $19.38 per share during the three and six months ended June 30, 2026. There were 351,911 shares purchased by employees under the ESPP at a weighted-average purchase price of $32.44 during the three and six months ended June 30, 2025. The Company recognized stock-based compensation expense related to the ESPP of $0.7 million and $0.9 million during the three months ended June 30, 2026 and 2025, respectively, and $1.9 million and $2.0 million during the six months ended June 30, 2026 and 2025, respectively.
In June 2026, the Company’s stockholders approved the amendment and restatement of the ESPP to increase the maximum number of shares available for purchase under the ESPP by 2.1 million shares, subject to adjustment for certain changes in the Company’s capitalization.
Stock-Based Compensation
The following table summarizes the effects of stock-based compensation expense related to stock-based awards in the condensed consolidated statements of operations during the periods presented (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Cost of revenue$1,242 $1,070 $2,382 $2,241 
Sales and marketing6,082 7,295 12,536 14,934 
Product development10,671 17,846 25,381 37,255 
General and administrative7,754 8,564 15,957 17,814 
Total stock-based compensation recorded to income before income taxes25,749 34,775 56,256 72,244 
Benefit from income taxes(5,434)(7,008)(11,398)(14,419)
Total stock-based compensation recorded to net income attributable to common stockholders$20,315 $27,767 $44,858 $57,825 
The Company capitalized $2.3 million and $3.0 million of stock-based compensation expense as website and internal-use software development costs in the three months ended June 30, 2026 and 2025, respectively, and $4.6 million and $5.8 million in the six months ended June 30, 2026 and 2025, respectively.