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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2024
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 (“ESPP”) and earnout consideration and key employee consideration shares related to acquisitions was classified in the accompanying consolidated statements of operations as follows:
 Year Ended December 31,
 202420232022
 (in thousands)
Stock-based compensation expense:
Cost of revenue$12,208 $11,005 $10,367 
Research and development37,566 39,183 49,940 
Sales and marketing28,718 30,350 31,217 
General and administrative29,469 31,098 28,378 
Total stock-based compensation expense$107,961 $111,636 $119,902 
The unrecognized stock-based compensation expense and estimated weighted average amortization periods remaining at December 31, 2024 was as follows:
 Unrecognized Compensation ExpenseWeighted-Average Amortization Period Remaining
 (in thousands)(in years)
RSUs and PSUs$137,525 1.9
Purchase rights under our ESPP$1,734 0.6
Earnout and key employee consideration shares$7,391 1.8
Summary of Restricted Stock and Restricted Stock Unit Activity RSUs and PSUs activity during 2024, 2023, and 2022 was as follows:
 Shares        Weighted-
Average Grant
Date Fair
Value
Unvested balance as of December 31, 20212,778,877 $74.40 
Granted2,327,216 86.78 
Vested(1,481,333)69.80 
Forfeited(623,317)85.93 
Unvested balance as of December 31, 20223,001,443 83.88 
Granted2,304,140 48.83 (1)
Vested(1,453,713)73.29 (1)
Forfeited(1,137,444)67.93 (1)
Unvested balance as of December 31, 20232,714,426 66.40 (1)
Granted2,563,810 53.99 
Vested(1,462,352)64.78 
Forfeited(962,649)62.16 
Unvested balance as of December 31, 20242,853,235 $57.25 
(1) The weighted average grant date fair values for RSUs and PSUs granted, vested and forfeited during fiscal year 2023, as well as the weighted average grant date fair value of awards unvested as of December 31, 2023 have been revised from prior period disclosures. Refer to Note 20, Immaterial Correction of an Error, for further information.
Summary of Stock Option Activity The following tables summarizes information about stock option activity during the reporting periods:
Shares        Weighted
Average
Exercise
Price		Weighted
Average
Remaining
Contractual Life
(in years)		Aggregate
Intrinsic
Value
(in thousands)
Outstanding as of December 31, 20211,411,387 $10.74 $150,951 
Granted— — 
Exercised(479,223)6.92 $20,764 
Forfeited/cancelled(38)21.15 
Outstanding as of December 31, 2022932,126 12.70 $19,837 
Granted— — 
Exercised(215,856)14.14 $6,519 
Forfeited/cancelled— — 
Outstanding as of December 31, 2023716,270 12.26 $32,115 
Granted— — 
Exercised(133,182)11.75 $5,013 
Forfeited/cancelled(450)7.73 
Outstanding as of December 31, 2024582,638 12.38 1.2$16,225 
Vested and exercisable as of December 31, 2024582,638 $12.38 1.2$16,225 
Summary of Share Based Compensation Valuation of Options Granted Assumptions
The following table reflects the assumptions used in the Black-Scholes option pricing model to calculate the expense related to the ESPP:
 Year Ended December 31,
 202420232022
Expected term (in years)
0.5 - 1.0
0.5 - 1.0
0.5 - 1.0
Expected volatility
37 - 47%
47 - 68%
37 - 57%
Risk-free interest rate
4.0 – 5.4%
4.5 – 5.5%
0.1 – 4.0%
Expected dividend yield
—
—
—
Grant date fair value per share
$9.96 – $17.25
$11.70 – $20.07
$15.50 –$29.58
Summary of Common Shares Issued to Employees
The following table provides the number of common shares issued to employees, the purchase prices and aggregate proceeds for the purchase dates in the years ended December 31, 2024, 2023 and 2022:
 September 13, 2024March 15, 2024September 15, 2023March 15, 2023September 15, 2022March 15, 2022
 
Common shares issued144,445147,445152,419177,886218,314 80,747 
Purchase prices$29.08
$33.78 and $39.78
$33.78$34.71$45.31
$67.59 and $81.37
Aggregate proceeds$4.2 million$5.0 million$5.1 million$6.1 million$6.2 million$5.7 million