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Stockholders’ Equity and Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Repurchase Activity Under the Repurchase Program
A summary of the stock repurchase activity for the three and nine months ended September 30, 2024 is as follows (in thousands, except per share amounts):
Three Months EndedNine Months Ended
September 30, 2024September 30, 2024
Aggregate purchase price$65,157 $299,823 
Shares repurchased205 1,047 
Average price paid per share$318.14 $286.47 
Schedule of Option Activity The following table summarizes the option activity under our stock plans and related information (in thousands, except 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 (1,391)16.41 
       Options canceled(24)20.07 
Balance—September 30, 20241,042 $24.39 1.5$374,471 
Vested and exercisable—September 30, 2024997 $23.26 1.4$359,633 
Schedule of Restricted Stock Units Activity A summary of the RSU activity is presented below (in thousands, except 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 granted2,307 277.30 
              RSUs and PRSUs vested(2,117)93.59 
              RSUs and PRSUs forfeited/canceled(412)134.80 
Unvested balance—September 30, 20247,678 $168.28 
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 September 30,Nine Months Ended September 30,
2024202320242023
Cost of revenue $4,098 $3,717 $11,531 $9,516 
Research and development 58,340 47,965 152,897 125,671 
Sales and marketing
20,960 20,490 56,630 51,461 
General and administrative 14,725 13,218 33,572 28,750 
              Total stock-based compensation $98,123 $85,390 $254,630 $215,398