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Stock-Based Compensation
 6 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation
12. Stock-Based Compensation
RSUs and RSAs
Our restricted stock units (“RSUs”) and restricted stock awards (“RSAs”) vest based on the terms in the grant agreements and generally vest ratably over one to four years from the vesting commencement date. The following table summarizes the RSU and RSA activity for the six months ended June 30, 2025:
Total RSUs and RSAsWeighted-
average grant
date fair
value
Unvested as of December 31, 202411,344,247 $37.67 
Granted1,149,225 $115.73 
Vested
(4,325,212)$44.54 
Canceled/Forfeited
(436,148)$41.48 
Unvested as of June 30, 20257,732,112 $45.22 
As of June 30, 2025, we had RSUs and RSAs outstanding for 7,732,112 common shares, of which 7,208,772 relate to Class A common stock and 523,340 relate to Class B common stock. Total unrecognized stock-based compensation expense related to RSUs and RSAs was $248.3 million as of June 30, 2025 and is expected to be recognized over a weighted-average period of 1.04 years.
Stock Options
Stock options vest based on terms in the stock option agreement and generally vest over five years quarterly or four years with 25% of the award vesting one year from the vesting commencement date then ratably over the following three years. The following table summarizes the stock option activity during the six months ended June 30, 2025:
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, 202414,687,538 $30.07 6.87$1,958,924 
Exercised
(2,819,924)5.14 
Canceled/Forfeited
(2,131)34.34 
Balance as of June 30, 202511,865,483 $35.99 7.36$1,359,543 
Vested as of June 30, 20255,617,433 $25.90 6.12$700,300 
Vested and expected to vest as of June 30, 202511,865,483 $35.99 7.36$1,359,543 
As of June 30, 2025, we had outstanding stock options for 11,865,483 common shares, of which 10,136,166 relate to Class A common stock and 1,729,317 relate to Class B common stock. Total unrecognized stock-based compensation expense related
to stock options was $97.4 million as of June 30, 2025 and is expected to be recognized over a weighted-average period of 3.48 years.
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 June 30,Six months ended June 30,
2025202420252024
Cost of revenue$204 $61 $421 $319 
Research and development56,663 29,944 109,273 346,458 
Sales and marketing10,198 6,875 20,336 67,665 
General and administrative22,005 27,386 44,454 227,332 
Stock-based compensation expense
$89,070 $64,266 $174,484 $641,774