v3.26.1
Stock-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2026
Schedule Of Share Based Compensation Arrangements By Share Based Paymen tAward [Line Items]  
Summary of the Stock Option Activity

The stock option activity is summarized in the following table:

 

 

 

Number of
Option
Shares

 

Outstanding as of December 31, 2025

 

 

3,664,392

 

Granted

 

 

—

 

Exercised

 

 

(1,813,133

)

Cancelled/Forfeited

 

 

(14,844

)

Outstanding as of June 30, 2026

 

 

1,836,415

 

Exercisable as of June 30, 2026

 

 

932,004

 

Exercisable and expected to vest as of June 30, 2026

 

 

1,836,415

 
Summary of Performance Share Unit ("PSU") Activity

The performance-based restricted stock unit (“PSU”) activity is summarized in the following table:

 

 

 

Number of
PSUs

 

Outstanding as of December 31, 2025

 

 

5,174,871

 

Granted

 

 

524,564

 

Performance adjustments

 

 

1,472,935

 

Vested

 

 

(3,057,333

)

Forfeited

 

 

(160,855

)

Outstanding as of June 30, 2026

 

 

3,954,182

 

Expected to vest after June 30, 2026(1)

 

 

8,199,699

 

 

Represents the number of PSUs expected to vest, which may exceed the target number of shares, based on the Company’s probability assessment of expected performance during the performance period.
Summary of Stock-based Compensation Expenses for Stock Options and Unvested Common Stock

Total stock-based compensation expense for RSUs, PSUs, restricted stock, and stock option awards which are included in the condensed consolidated financial statements, is as follows (in thousands):

 

 

 

Three Months Ended
June 30,

 

 

Six Months Ended
June 30,

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Cost of revenue

 

$

15,297

 

 

$

1,815

 

 

$

32,112

 

 

$

2,878

 

Research and development

 

 

63,618

 

 

 

76,234

 

 

 

116,319

 

 

 

93,626

 

Sales and marketing

 

 

15,880

 

 

 

5,572

 

 

 

30,542

 

 

 

9,928

 

General and administrative

 

 

47,050

 

 

 

15,547

 

 

 

91,389

 

 

 

25,989

 

Stock-based compensation, net of amounts capitalized

 

 

141,845

 

 

 

99,168

 

 

 

270,362

 

 

 

132,421

 

Capitalized stock-based compensation—Property and equipment,
   net and Intangible assets, net

 

 

2,870

 

 

 

1,090

 

 

 

5,430

 

 

 

2,003

 

Total stock-based compensation

 

$

144,715

 

 

$

100,258

 

 

$

275,792

 

 

$

134,424

 

 
Summary of Unrecognized Stock-Based Compensation

A summary of the Company’s remaining unrecognized compensation expense and the weighted-average remaining amortization period as of June 30, 2026, related to its non-vested RSUs, PSUs, restricted stock, and stock option awards is presented below (in millions, except time period amounts):

 

 

 

Unrecognized
Expense

 

 

Weighted-
Average
Amortization
Period (Years)

 

Restricted stock units

 

$

542.6

 

 

 

3.0

 

Performance-based restricted stock units

 

 

179.2

 

 

 

1.8

 

Restricted stock

 

 

389.6

 

 

 

4.2

 

Stock options

 

 

33.8

 

 

 

2.4

 
Restricted Stock Units Outstanding [Member]  
Schedule Of Share Based Compensation Arrangements By Share Based Paymen tAward [Line Items]  
Summary of Restricted Stock Unit ("RSU") and Restricted Stock Activity

The restricted stock unit (“RSU”) activity is summarized in the following table:

 

 

 

Number of
RSUs

 

Outstanding as of December 31, 2025

 

 

14,456,951

 

Granted

 

 

9,340,886

 

Vested

 

 

(4,939,477

)

Forfeited

 

 

(1,812,035

)

Outstanding as of June 30, 2026

 

 

17,046,325

 

Expected to vest after June 30, 2026

 

 

17,046,325

 

 
Restricted Stock [Member]  
Schedule Of Share Based Compensation Arrangements By Share Based Paymen tAward [Line Items]  
Summary of Restricted Stock Unit ("RSU") and Restricted Stock Activity

The restricted stock activity is summarized in the following table:

 

 

 

Number of
Restricted Stock

 

Outstanding as of December 31, 2025

 

 

8,034,941

 

Granted(1)

 

 

1,494,308

 

Vested

 

 

(507,557

)

Cancelled/Forfeited

 

 

(63,948

)

Outstanding as of June 30, 2026

 

 

8,957,744

 

Expected to vest after June 30, 2026

 

 

8,957,744

 

 

In connection with certain acquisitions, the Company converted certain outstanding common stock of the acquirees into restricted stock of the Company, for which $27.3 million of the fair value was attributed to pre-combination services and was allocated to purchase consideration.