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Stockholders’ Equity and Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Shares Repurchased
A summary of the stock repurchase activity under the Repurchase Programs for the three and six months ended June 30, 2024 is as follows (in thousands, except per share amounts):
Three Months EndedSix Months Ended
June 30, 2024June 30, 2024
Aggregate purchase price$172,013 $234,666 
Shares repurchased614 842 
Average price paid per share$280.23 $278.77 
Schedule of Option Activity The following table summarizes the option activity under our stock plans and related information (in thousands, except years and per share amounts):
Number of
Shares
Underlying
Outstanding Options
Weighted-
Average
Exercise
Price per Share
Weighted-
Average
Remaining
Contractual
Term (in years)
Aggregate
Intrinsic
Value
Balance—December 31, 20232,457 $19.83 1.7$529,931 
       Options granted — — 
       Options exercised (1,152)16.04 
       Options canceled(24)20.07 
Balance—June 30, 20241,281 $23.24 1.6$419,222 
Vested and exercisable—June 30, 20241,202 $22.04 1.5$394,687 
Schedule of Restricted Stock Units Activity A summary of the RSU activity is presented below (in thousands, except years and per share amounts):
Number of
Shares
Weighted-
Average Grant
Date Fair Value Per Share
Unvested balance—December 31, 20237,900 $112.76 
              RSUs and PRSUs granted2,151 271.01 
              RSUs and PRSUs vested(1,507)93.33 
              RSUs and PRSUs forfeited/canceled(295)124.10 
Unvested balance—June 30, 20248,249 $157.18 
Schedule of Stock-based Compensation Expense The following table summarizes the stock-based compensation expense related to our equity awards (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Cost of revenue $3,983 $2,824 $7,433 $5,799 
Research and development 50,769 41,137 94,557 77,706 
Sales and marketing
16,769 15,833 35,670 30,971 
General and administrative 7,771 7,333 18,847 15,532 
              Total stock-based compensation $79,292 $67,127 $156,507 $130,008