STOCK-BASED COMPENSATION

9 Months Ended

Sep. 30, 2022

Share-Based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

NOTE 11. STOCK-BASED COMPENSATION

Expense

	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2022		2021		2022		2021
Cost of revenue	$	6,797	$	5,114	$	19,754	$	16,889
Selling and marketing	12,933		13,376		36,524		41,844
Research and development	7,724		6,231		22,425		19,343
General and administrative	6,320		3,974		14,598		11,407
	$	33,774	$	28,695	$	93,301	$	89,483
Income tax benefit	$	(600)	$	(5,845)	$	(1,505)	$	(18,028)

As of September 30, 2022, the Company had $161.0 million of unrecognized stock-based compensation expense, net of estimated forfeitures, which is expected to be recognized over a weighted-average period of 2.1 years.

Grants

	Nine Months Ended September 30, 2022
(in thousands)	Shares	Total Fair Value
Restricted stock units	1,436	$	112,303
Non-qualified stock options	4,529	$	102,332
Common stock	14	$	600