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STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Option Activity
The following table summarizes the stock option activity during the year ended December 31, 2024 (aggregate intrinsic value in thousands):
Number
of Shares		Weighted-
Average
Exercise
Price		Weighted-
Average
Remaining
Contractual
Life		Aggregate
Intrinsic
Value
Outstanding at December 31, 20234,340,052$12.57 4.1$245,884 
Exercised(1,187,141)13.29 
Canceled/Forfeited(753)19.18 
Outstanding at December 31, 20243,152,15812.29 3.2198,832 
Exercisable at December 31, 20243,152,158$12.29 3.2$198,832 
Summary of Activity in Connection with RSU and PSU Activity
The following table summarizes the RSU activity during the year ended December 31, 2024:
Number of
Shares		Weighted-Average Grant
Date Fair Value
Unvested at December 31, 20237,382,073$59.35 
Granted4,352,80573.14 
Vested(3,359,397)61.54 
Canceled/Forfeited(1,304,038)64.81 
Unvested at December 31, 20247,071,443$65.85 
The following table summarizes the PSU activity during the year ended December 31, 2024:
Number of
Shares		Weighted-Average Grant
Date Fair Value
Unvested at December 31, 202377,971$55.63 
Granted(1)
127,46574.36 
Vested(34,435)67.21 
Canceled/Forfeited(15,210)63.52 
Unvested at December 31, 2024155,791$67.63 
(1) This represents awards granted at 100% attainment of the performance conditions.
Schedule of Fair Value of ESPP Purchase Rights on Date of Grant
The fair value of the ESPP purchase rights on the date of grant using the Black-Scholes option pricing model was estimated using the following assumptions:
December 31,
202420232022
Risk-free interest rate
4.29% to 5.33%
4.68% to 5.33%
1.47% to 4.55%
Expected term (in years)
0.5 to 1.0
0.5 to 1.0
0.5 to 1.0
Estimated dividend yield0.00%0.00%0.00%
Estimated weighted-average volatility
29.80% to 44.34%
46.29% to 64.76%
61.14% to 72.69%
Summary of Total Stock-based Compensation Cost from Stock Options, RSUs, ESPP, RSAs, and Sales of Stock
The Company recorded total stock-based compensation cost from stock options, RSUs, PSUs, ESPP, RSAs, and sales of stock by employees in excess of fair value as follows (in thousands):
Year Ended December 31,
202420232022
Cost of revenue$8,191 $7,388 $7,253 
Sales and marketing57,629 54,901 53,397 
Research and development67,926 68,265 63,262 
General and administrative53,134 44,281 38,974 
Total stock-based compensation expense$186,880 $174,835 $162,886 
Stock-based compensation capitalized for software development and cloud-computing arrangement implementation costs13,339 9,717 8,818 
Total stock-based compensation cost$200,219 $184,552 $171,704