v3.26.3
Stock-Based Compensation
 9 Months Ended
Sep. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Stock-Based Compensation
A summary of stock-based compensation expense recognized in the condensed consolidated statements of operations and comprehensive income is as follows (in thousands):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2026202520262025
Cost of revenue$890 $379 $3,081 $694 
Research and development49,395 21,711 115,212 58,749 
Sales and marketing19,678 9,361 40,989 30,874 
General and administrative12,627 9,288 36,213 28,342 
Total(1)
$82,590 $40,739 $195,495 $118,659 
(1) Stock-based compensation expense for the nine months ended September 30, 2026 did not include the $4.0 million in share-based consideration related to acquisitions, see Note 6 - Business Combinations for further details.
Stock Options
A summary of stock option activity under the 2018 Plan and 2024 Plan is as follows (in thousands, except years and per share data):
Number of
Shares		Weighted
Average
Exercise
Price		Weighted Average Remaining Contractual Term (in years)Aggregate
Intrinsic
Value
Outstanding as of December 31, 20252,721$0.86 5.5$450,336 
Exercised(1,031)0.81 
Outstanding as of September 30, 20261,690$0.89 4.8$600,125 
Vested and expected to vest as of September 30, 20261,690$0.89 

4.8

$600,125 
Exercisable as of September 30, 20261,672$0.90 4.7$593,595 
As of September 30, 2026, there was approximately $0.3 million of total unrecognized compensation cost, related to unvested stock options, which is expected to be recognized over a weighted-average remaining requisite service period of 0.9 years, using the straight-line method.
Restricted Stock Units (“RSUs”)
A summary of RSU activity under the 2018 Plan and 2024 Plan is as follows (in thousands, except per share data):
Number of
Restricted Stock
Units		Weighted
Average Grant
Date Fair Value
 (per share)
Outstanding as of December 31, 20259,354$51.39 
Granted3,055219.28 
Vested(3,320)46.58 
Cancelled and forfeited(626)85.53 
Outstanding as of September 30, 20268,463$111.36 
As of September 30, 2026, there was $802.9 million of unrecognized stock-based compensation expense related to unvested RSUs, which is expected to be recognized over a weighted-average period of 2.1 years.
Performance Stock Units (“PSUs”)
A summary of PSU activity under the 2024 Plan is as follows (in thousands, except per share data):
Number of
Performance Stock
Units
Weighted
Average Grant
Date Fair Value
( per share)
Outstanding as of December 31, 2025177$126.64 
Granted220154.08 
Vested(37)128.34 
Cancelled and forfeited(34)144.84 
Outstanding as of September 30, 2026326$143.05 
As of September 30, 2026, there was $30.7 million of unrecognized stock-based compensation expense related to these PSUs, which is expected to be recognized over a weighted-average period of 2.1 years.