Stock-Based Compensation (Tables)
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9 Months Ended |
Sep. 30, 2026 |
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| Share-Based Payment Arrangement [Abstract] |
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| Schedule of Costs Related to Company's Stock-based Compensation Plan |
Stock-based compensation expense by function, as below, are included in the unaudited consolidated statements of income:
| | | | | | | | | | | | | | | | | | | | | | | | | Three months ended September 30, | | Nine months ended September 30, | | 2026 | | 2025 | | 2026 | | 2025 | | Cost of revenues | $ | 3,628 | | | $ | 3,321 | | | $ | 10,221 | | | $ | 10,229 | | | General and administrative expenses | 10,771 | | | 9,037 | | | 30,802 | | | 22,840 | | | Selling and marketing expenses | 11,143 | | | 10,781 | | | 31,251 | | | 25,649 | | | Total | $ | 25,542 | | | $ | 23,139 | | | $ | 72,274 | | | $ | 58,718 | | | | | | | | | | Income tax benefit related to share-based compensation(1) | $ | 6,445 | | | $ | 5,788 | | | $ | 13,858 | | | $ | 19,104 | |
(1) Includes $(55) and $64 during the three months ended September 30, 2026 and 2025, respectively, and $1,208 and $14,792 during the nine months ended September 30, 2026 and 2025, respectively, related to discrete benefits recognized in income tax expense in accordance with ASU No. 2016-09, Compensation - Stock Compensation.
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| Schedule of Share-Based Payment Arrangement, Option, Activity |
Stock option activity under the Company’s stock-based compensation plans is shown below:
| | | | | | | | | | | | | | | | | | | | | | | | | Number of Options | | Weighted Average Exercise Price | | Aggregate Intrinsic Value | | Weighted Average Remaining Contractual Life (Years) | | Outstanding as of December 31, 2025 | 1,734,720 | | | $ | 30.14 | | | $ | 21,344 | | | 7.5 | | Granted | — | | | — | | | — | | | — | | | Exercised | (11,195) | | | 30.15 | | | 90 | | | — | | | Forfeited | — | | | — | | | — | | | — | | | Outstanding as of September 30, 2026 | 1,723,525 | | | $ | 30.14 | | | $ | 7,315 | | | 6.7 | | Vested and exercisable as of September 30, 2026 | 1,287,010 | | | $ | 30.14 | | | $ | 5,462 | | | 6.7 | Weighted average grant date fair value per unit of stock option granted during the period | $ | — | | | | | | | |
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| Schedule of Restricted Stock Activity Under Company's Stock Plans |
Restricted stock unit activity under the Company’s stock-based compensation plans is shown below: | | | | | | | | | | | | | Restricted Stock Units | | Number | | Weighted Average
Fair Value | Outstanding as of December 31, 2025(1) | 2,789,601 | | | $ | 37.65 | | | Granted | 1,840,408 | | | 31.31 | | | Vested | (1,082,771) | | | 34.77 | | | Forfeited | (183,109) | | | 36.11 | | Outstanding as of September 30, 2026(1) | 3,364,129 | | | $ | 35.19 | |
(1) As of September 30, 2026 and December 31, 2025 restricted stock units vested for which the underlying common stock is yet to be issued are 328,139 and 348,636, respectively. PRSU activity under the Company’s stock plans is shown below:
| | | | | | | | | | | | | | | | | | | | | | | | | Revenue Based PRSUs | | Market Condition Based PRSUs | | Number | | Weighted Average
Fair Value | | Number | | Weighted Average
Fair Value | | Outstanding as of December 31, 2025 | 696,439 | | | $ | 39.20 | | | 841,966 | | | $ | 56.31 | | | Granted | 409,256 | | | 30.90 | | | 707,876 | | | 38.11 | | | Vested | — | | | — | | | — | | | — | | | Forfeited | (23,337) | | | 36.71 | | | (34,987) | | | 52.63 | | | Outstanding as of September 30, 2026 | 1,082,358 | | | $ | 36.12 | | | 1,514,855 | | | $ | 47.89 | |
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| Schedule of Share-Based Compensation, Employee Stock Purchase Plan, Activity |
Activity under the Company’s 2022 ESPP is shown below:
| | | | | | | | | | | | | | | | | Number | | Total Proceeds Received | | Shares available for issuance as of December 31, 2025 | | 3,510,269 | | | | | | | | | Issuance of common stock related to the: | | | | | | Seventh offering period | | 60,139 | | $ | 2,297 | | | Eighth offering period | | 146,650 | | $ | 3,413 | | | Shares available for issuance as of September 30, 2026 | | 3,303,480 | | | | Contributions received for the ninth offering period up to September 30, 2026 | | — | | $ | 3,122 | | | | | | |
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