v3.26.3
Stock-based Compensation
 9 Months Ended
Sep. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Stock-based Compensation Stock-based Compensation
The Company regularly issues share-based compensation to its employees and directors who are not employees of the Company. The accounting guidance for share-based compensation requires measurement of compensation cost for share-based awards at fair value and recognition of compensation cost over the service period. For a full description of the Company’s stock-based compensation programs, refer to Note 14. “Common Stock and Stockholders’ Equity” of the Company’s financial statements included in the Company's 2025 Form 10-K.

In the nine months ended September 30, 2026, the Company granted a portion of its employees awards in the form of restricted stock units (“RSUs”) and performance stock units (“PSUs”). The total number of units granted was approximately 7.9 million and the aggregate fair value of the awards was $42.9 million. A portion of the awards granted consisted of RSUs vesting over a three year period, with one-third vesting on the first anniversary of the grant and with the remainder vesting quarterly thereafter. A smaller portion of the awards granted consisted of PSUs subject to the achievement of specific performance criteria that will time-vest over a three year period, whereas the expense will be recognized on an accelerated tranche-by-tranche basis.

The following table reflects stock-based compensation expense by award type for the indicated periods (in thousands):

Three Months Ended
September 30,		Nine Months Ended
September 30,
2026202520262025
Options$165 $264 $559 $2,079 
RSUs10,153 17,521 32,003 58,228 
PSUs1,054 (1,125)2,202 3,186 
Employee stock purchase plan244 336 764 1,010 
Total stock-based compensation expense$11,616 $16,996 $35,528 $64,503 
Total compensation costs for stock-based awards were recorded for the indicated periods as follows (in thousands):

Three Months Ended
September 30,		Nine Months Ended
September 30,
2026202520262025
Cost of revenue (exclusive of depreciation and amortization, which are shown separately)$104 $509 $575 $1,588 
Advertising and marketing471 1,083 1,757 3,888 
Sales1,545 3,156 5,082 11,009 
Technology and development2,066 4,129 6,528 14,161 
General and administrative7,430 8,119 21,586 33,857 
Total stock-based compensation expense 11,616 16,996 35,528 64,503 
Capitalized stock-based compensation336 1,696 1,279 6,177 
Total stock-based compensation$11,952 $18,692 $36,807 $70,680 

As of September 30, 2026, the Company had unrecognized compensation cost related to outstanding stock-based award as follows (dollars in thousands):

Award TypeUnearned CompensationWeighted Average Remaining Life
(Years)
Options$539 1.2
RSUs$47,672 1.8
PSUs$8,648 2.3