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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity Stock option activity for the year ended December 31, 2024 was as follows:
Number of Options OutstandingWeighted-Average Exercise Price
(Per share)		Weighted-Average Remaining Life
(In years)		Aggregate Intrinsic Value
(In thousands)
Outstanding at January 1, 20243,289,019 $9.43 4.2$89,671 
Exercised(1,830,193)7.14 
Forfeited or cancelled(33,170)16.31 
Outstanding at December 31, 20241,425,656 $12.17 5.2$31,223 
Vested and exercisable at December 31, 20241,425,656 12.17 5.2$31,223 
Vested and unvested expected to vest at December 31, 20241,425,656 $12.17 5.2$31,223 
Schedule of Weighted-Average Assumptions
The following weighted-average assumptions were used to estimate the grant date fair value of stock options issued:
Year Ended December 31,
2023
Expected volatility59.3%
Expected term (in years)
10.0
Risk-free interest rate4.3%
Dividend yield—%
Weighted-average fair value of awards$20.83
The following assumptions were used in the Monte Carlo simulation model to estimate the grant date fair value and the derived service period of the MRSUs:
Year Ended December 31,
2024
Expected volatility71.3%
Expected term (in years)
5.0
Risk-free interest rate4.1%
Dividend yield—%
Stock price at grant date (per share)
$39.43
Weighted-average fair value of awards (per share)
$27.61
Schedule of RSU Activity RSU activity for the year ended December 31, 2024 was as follows:
SharesWeighted-Average Grant Date Fair Value
 (Per share)
Unvested balance at January 1, 20246,308,499 $36.07 
Granted3,299,104 37.42 
Vested(2,157,680)37.26 
Forfeited or cancelled(2,234,623)36.10 
Unvested balance at December 31, 20245,215,300 $36.40 
Vested and expected to vest at December 31, 20244,419,519 $36.36 
Schedule of PRSU Activity
The Company has issued PRSUs which vest based on the achievement of each award’s established performance targets. PRSU activity for the year ended December 31, 2024 was as follows:
SharesWeighted-Average Grant Date Fair Value
(Per share)
Unvested balance at January 1, 2024537,715 $35.25 
Granted168,944 36.48 
Vested(99,464)50.67 
Forfeited or cancelled(117,328)31.75 
Adjusted by performance factor(305,948)31.75 
Unvested balance at December 31, 2024183,919 $36.09 
Vested and expected to vest at December 31, 2024172,093 $36.07 
Summary of Share-Based Payment Arrangement and Price Targets A cumulative percentage of the MRSU target is earned based on the achievement of stock price goals, measured based on the average of the Company’s closing stock price over a consecutive 60 trading day period during the performance period as set forth in the table below:
TrancheCompany Stock Price TargetTotal Payout
1$65.00
25% of Target MRSUs
2$100.00
50% of Target MRSUs
3$135.00
100% of Target MRSUs
4$170.00
150% of Target MRSUs
Schedule of MRSU Activity
MRSU activity for the year ended December 31, 2024 was as follows:
SharesWeighted-Average Grant Date Fair Value
(Per share)
Unvested balance at January 1, 20243,000,000 $25.12 
Granted289,767 27.61 
Forfeited or cancelled(3,000,000)25.12 
Unvested balance at December 31, 2024289,767 $27.61 
Summary of Stock-Based Compensation Expense
Stock-based compensation is included in the Consolidated Statements of Operations as follows:
Year Ended December 31,
202420232022
Cost of revenue (1)
$5,889 $5,685 $1,820 
Research and development (1)
38,285 42,040 39,354 
Sales and marketing (1)
10,093 13,177 14,909 
General and administrative (2)
36,278 23,508 49,746 
Restructuring and other charges— 3,937 — 
Total$90,545 $88,347 $105,829 
(1) Amounts for year ended December 31, 2023 have been recast to conform with current period presentation. Refer to Note 2. Summary of Significant Accounting Policies, Prior Period Reclassification, for further details.
(2) Amount includes $31,279 of recognized stock-based compensation related to the Company’s former CEO’s MRSUs that was estimated to be forfeited and therefore reversed for the year ended December 31, 2023.