v3.26.3
Stockholders' Equity (Tables)
9 Months Ended
Sep. 30, 2026
Equity [Abstract]  
Schedule of Stock Options A summary of the Company’s stock option activity for its Plans is as follows:
Outstanding
Stock Options
(in thousands)
Weighted-Average
Exercise Price
Weighted-Average
Remaining
Contractual Life
(in years)
Aggregate
Intrinsic Value
(in millions)
Balance as of December 31, 20251
4,786 $11.58 7.2$13.4 
Granted
581 $10.18 
Exercised(241)$6.95 
Cancelled/forfeited2
(1,372)$12.04 
Balance as of September 30, 20262
3,754 $11.49 6.8$0.6 
Vested and exercisable as of September 30, 20262
2,365 $12.07 5.5$0.6 
______________
(1)Includes 0.2 million of stock options with both service-based and performance-based conditions.
(2)Includes 0.1 million of stock options with both service-based and performance-based conditions.
Schedule of Weighted-Average Assumptions and Ranges of Fair Value of Common Stock
The per-share fair value of each stock option granted was determined on the date of grant using the following weighted-average assumptions:
Nine Months Ended
September 30,
20262025
Expected volatility58.9%57.9%
Expected term (in years)6.16.0
Risk-free interest rate4.0%4.1%
Schedule of Outstanding Nonvested RSUs A summary of the Company’s outstanding nonvested RSUs for its Plans is as follows:
Number of Units
(in thousands)
Weighted-Average
Grant-Date
Fair Value
Nonvested as of December 31, 20251
5,070 $11.13 
Granted
3,013 $10.15 
Vested1
(1,606)$11.15 
Forfeited1
(916)$11.14 
Nonvested as of September 30, 2026
5,561 $10.59 
______________
(1)Includes less than 0.1 million of RSUs with both service-based and performance-based conditions.
Schedule of Stock-based Compensation Expense The Company recognized stock-based compensation under the Plans and ESPP as follows:
Three Months Ended
September 30,
Nine Months Ended
September 30,
(in millions)2026202520262025
Research and development$1.5 $2.0 $4.7 $6.6 
Sales and marketing6.2 1.7 10.9 6.4 
General and administrative2.6 3.0 8.6 8.6 
Total Stock-based Compensation
$10.3 $6.7 $24.2 $21.6