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Stock Incentive Plans (Tables)
9 Months Ended
Sep. 30, 2025
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Schedule of Restricted Stock Unit Activity ("RSU") and Restricted Stock Awards ("RSA") The table below summarizes the restricted stock unit ("RSU") and restricted stock award ("RSA") activity for the nine months ended September 30, 2025:

 

 

 

 

 

Weighted-

 

 

 

 

 

 

Average

 

 

 

Shares

 

 

Fair Value

 

Unvested —December 31, 2024

 

 

31,042,552

 

 

$

10.92

 

Granted

 

 

16,064,203

 

 

 

10.17

 

Vested

 

 

(17,476,705

)

 

 

11.17

 

Forfeited

 

 

(2,477,192

)

 

 

10.52

 

Unvested —September 30, 2025

 

 

27,152,858

 

 

 

10.34

 

Summary of Share-based Compensation Arrangements by Share-based Payment Award The table below summarizes the stock option activity for the nine months ended September 30, 2025:

 

 

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

 

 

 

 

 

 

Average

 

 

 

 

 

 

 

 

 

Weighted-

 

 

Remaining

 

 

Aggregate

 

 

 

 

 

 

Average

 

 

Contractual

 

 

Intrinsic

 

 

 

 

 

 

Exercise

 

 

Life

 

 

Value

 

 

 

Shares

 

 

Price

 

 

(in years)

 

 

(in thousands)

 

Options outstanding—December 31, 2024

 

 

23,349,505

 

 

$

3.11

 

 

 

3.2

 

 

$

201,305

 

Exercised

 

 

(1,238,883

)

 

 

2.93

 

 

 

 

 

 

 

Forfeited and canceled

 

 

(34,737

)

 

 

8.58

 

 

 

 

 

 

 

Options outstanding—September 30, 2025

 

 

22,075,885

 

 

$

3.11

 

 

 

2.3

 

 

$

132,455

 

Options exercisable—September 30, 2025

 

 

21,850,095

 

 

$

3.05

 

 

 

2.3

 

 

$

132,335

 

Options vested and expected to vest—September 30, 2025

 

 

22,074,471

 

 

$

3.11

 

 

 

2.3

 

 

$

132,454

 

Summary of Share-based Payment Arrangement, Expensed and Capitalized, Amount

Stock-Based Compensation—Stock-based compensation expense has been recorded in the accompanying condensed consolidated statements of operations and comprehensive (loss) income as follows for the three and nine months ended September 30, 2025 and 2024 (in thousands):

 

 

 

For the Three Months Ended

 

 

For the Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Cost of revenues

 

$

2,124

 

 

$

2,297

 

 

$

8,919

 

 

$

7,051

 

Research and development

 

 

13,734

 

 

 

12,164

 

 

 

45,870

 

 

 

34,750

 

Sales and marketing

 

 

10,918

 

 

 

6,637

 

 

 

36,568

 

 

 

19,150

 

General and administrative

 

 

12,417

 

 

 

21,027

 

 

 

54,859

 

 

 

66,270

 

Total stock-based compensation expense

 

$

39,193

 

 

$

42,125

 

 

$

146,216

 

 

$

127,221

 

 

2021 Employee Stock Purchase Plan [Member]  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The fair value of the ESPP purchase rights sold during the nine months ended September 30, 2025 was estimated using the Black-Scholes option pricing model with the following assumptions:

Expected term (in years)

 

0.5

Expected volatility

 

22 - 23%

Expected dividend yield

 

0%

Risk-free interest rate

 

4.2 - 5.3%