Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Summary of RSU and RSA Activity

The following table summarizes the RSU and RSA activity for the three months ended March 31, 2024:

	Service- based RSUs	RSAs	Market and Performance- based RSUs	Total RSUs and RSAs	Weighted- average grant date fair value
Unvested as of December 31, 2023	25,406,057	87,030	1,393,446	26,886,533	$	29.17
Granted	1,636,151	—	—	1,636,151	$	31.55
Vested	(11,309,117)	(14,507)	(678,632)	(12,002,256)	$	31.60
Canceled/Forfeited	(378,307)	—	(10,789)	(389,096)	$	28.49
Unvested as of March 31, 2024	15,354,784	72,523	704,025	16,131,332	$	27.62

Summary of Stock Option Activity

The following table summarizes the stock option activity and activity regarding shares available for grant under our equity incentive plans during the three months ended March 31, 2024:

	Outstanding stock options	Weighted- average exercise price		Weighted- average remaining contractual life (years)	Aggregate intrinsic value
	(in thousands, except share, per share, and year data)
Balance as of December 31, 2023	29,795,909	$	17.83	6.00	$	500,472
Exercised	(3,947,124)	5.85
Canceled/Forfeited	(75,570)	6.72
Balance as of March 31, 2024	25,773,215	$	19.70	6.07	$	839,632
Vested as of March 31, 2024	16,840,499	$	7.11	4.21	$	715
Vested and expected to vest as of March 31, 2024	25,773,215	$	19.70	6.07	$	839,632

Summary of Components of Stock-Based Compensation Expense

The following table summarizes the components of stock-based compensation expense recognized in the consolidated statements of operations for all periods presented:

	Three months ended March 31,
	2024		2023
	(in thousands)
Cost of revenue	$	258	$	38
Research and development	316,514		7,560
Sales and marketing	60,790		1,697
General and administrative	199,946		3,185
Stock-based compensation	$	577,508	$	12,480