v3.26.3
Stock-Based Compensation (Tables)
 9 Months Ended
Sep. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Summary of Stock-Based Compensation Expense
Stock-based compensation expense for restricted stock units (“RSUs”), performance-based restricted stock units (“PSUs”), stock options, purchase rights issued under our employee stock purchase plan, and earnout consideration and key employee consideration shares related to acquisitions was classified in the accompanying unaudited condensed consolidated statements of operations as follows (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Stock-based compensation expense:
Cost of revenue$1,473 $2,457 $4,775 $7,301 
Research and development7,189 9,399 24,837 30,037 
Sales and marketing4,351 7,255 13,865 21,948 
General and administrative10,233 7,216 19,484 21,773 
Total stock-based compensation expense$23,246 $26,327 $62,961 $81,059 
Summary of Restricted Stock and Restricted Stock Unit Activity
RSUs and PSUs activity classified as equity during the nine months ended September 30, 2026 was as follows:
SharesWeighted
Average
Grant Date
Fair Value
Unvested balance as of December 31, 20253,970,517 $33.48 
Granted9,613,990 6.49 
Vested(1,316,546)38.29 
Forfeited(1,064,769)30.23 
Unvested balance as of September 30, 202611,203,192 $10.06 
Summary of Performance Stock Unit Activity Classified as Liability
PSUs activity classified as liability during the nine months ended September 30, 2026 was as follows:
SharesWeighted
Average
Grant Date
Fair Value
Unvested balance as of December 31, 2025— $— 
Granted4,313,750 3.19 
Forfeited(337,500)1.81 
Unvested balance as of September 30, 20263,976,250 $3.31 
Summary of Share-Based Payment Arrangement, Option, Exercise Price Range The stock price thresholds and related payout percentages between the two plans are as follows:
Price Hurdles
Below $15.00$15.00$17.50$20.00$25.00$30.00 or Higher
Plan 1—%50%75%100%125%150%
Plan 2—%—%—%100%125%150%
Summary of Derivative Liabilities at Fair Value The following table summarizes the assumptions used in the Monte Carlo simulation model to estimate the fair value of the liability-classified PSUs as of September 30, 2026:
Grant DateAs of September 30, 2026
Plan 1(1)
Plan 1(2)
Plan 2(1)
Plan 1Plan 2
Expected term (in years)3.002.793.002.52.5
Expected volatility50.1%51.6%50.1%57.9%57.9%
Risk-free interest rate3.85%4.07%3.85%4.91%4.91%
Expected dividend yield—%—%—%—%—%
Fair value per unit$2.37$4.42$1.81$13.57$12.15
(1) PSUs granted March 31, 2026
(2) PSUs granted June 15, 2026
Summary of Stock Option Activity
The following table summarizes information about stock option activity during the reporting periods:
SharesWeighted
Average
Exercise
Price		Weighted
Average
Remaining
Contractual Life
(in years)		Aggregate
Intrinsic
Value
(in thousands)
Outstanding as of December 31, 2025223,232 $13.38 $498 
Forfeited/cancelled(63,473)13.68 
Outstanding as of September 30, 2026159,759 13.27 0.36— 
Vested and exercisable as of September 30, 2026159,759 $13.27 0.36$—