| Share-Based Payment Arrangement, Expensed and Capitalized, Amount |
The Company’s stock-based compensation expense is recorded as follows (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended September 30, | | Nine months ended September 30, | | 2026 | | 2025 | | 2026 | | 2025 | | Cost of revenue | $ | 850 | | | $ | 622 | | | $ | 2,606 | | | $ | 1,904 | | Sales and marketing(1) | 5,689 | | | 4,133 | | | 17,031 | | | 14,135 | | | Research and development | 2,860 | | | 2,381 | | | 8,836 | | | 8,028 | | | General and administrative | 5,957 | | | 5,486 | | | 18,609 | | | 15,949 | | | Total stock-based compensation expense | $ | 15,356 | | | $ | 12,622 | | | $ | 47,082 | | | $ | 40,016 | |
_______________ (1)Sales and marketing includes common stock warrant expense of $2.3 million recognized during each of the three months ended September 30, 2026 and 2025, and $6.6 million recognized during each of the nine months ended September 30, 2026 and 2025. See Note 7 – Stockholders’ Equity.
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| Disclosure of Share-Based Compensation Arrangements by Share-Based Payment Award |
A summary of option activity for the nine months ended September 30, 2026, is as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Options | | Weighted Average Exercise Price | | Weighted Average Remaining Contractual Term
(in years) | | Aggregate Intrinsic Value
(in thousands) | Options outstanding as of December 31, 2025 | 2,525,061 | | $ | 15.42 | | | 5.3 | | $ | 19,780 | | | Exercised | (460,224) | | 10.42 | | |
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| | Forfeited or expired | (46,706) | | 22.39 | | |
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| Options outstanding as of September 30, 2026 | 2,018,131 | | $ | 16.39 | | | 4.9 | | $ | 46,428 | | Options vested and exercisable as of September 30, 2026 | 1,883,412 | | $ | 16.00 | | | 4.8 | | $ | 44,070 | |
A summary of RSU activity for the nine months ended September 30, 2026, is as follows: | | | | | | | | | | | | | RSUs | | Weighted Average Grant Date Fair Value per Share | Unvested and outstanding as of December 31, 2025 | 2,436,259 | | $ | 50.28 | | | Granted | 3,137,408 | | 25.09 | | | Vested | (956,606) | | 39.23 | | | Forfeited or expired | (353,322) | | 34.37 | | Unvested and outstanding as of September 30, 2026 | 4,263,739 | | $ | 35.54 | |
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