Quarterly report [Sections 13 or 15(d)]

Stock-Based Compensation (Tables)

v3.25.1
Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2025
Stock-Based Compensation  
Schedule of stock option activity

Stock Option

Weighted Average

Remaining

Number of

Weighted Average

Contractual Life

Aggregate

Options

Exercise Price

(Years)

Intrinsic Value

Outstanding as of December 31, 2024

    

9,371

$

17.49

5.93

$

57,646

Options granted

 

Options exercised

 

(76)

2.86

Options forfeited

 

(131)

32.23

Outstanding as of March 31, 2025

 

9,164

$

17.40

5.68

$

29,966

Options expected to vest as of March 31, 2025

 

1,208

$

26.63

7.54

$

Options exercisable as of March 31, 2025

 

7,927

$

15.97

5.38

$

29,966

Schedule of restricted stock activity

    

RSUs

Number of

Weighted Average

Shares

Grant Date Fair Value

Outstanding as of December 31, 2024

5,485

$

28.71

Granted

 

6,725

14.14

Vested

 

(641)

28.56

Forfeited

 

(155)

29.19

Outstanding as of March 31, 2025

 

11,414

$

20.13

Schedule of PSUs activity

PSUs

Weighted 

Average Grant 

Number of 

Date Fair 

    

Shares (1)

    

Value

Outstanding as of December 31, 2024

392

$

43.00

Granted

1,272

16.74

Vested

(71)

36.14

Forfeited

(5)

39.42

Outstanding as of March 31, 2025

 

1,588

$

22.28

(1) For awards for which the performance period is complete, the number of outstanding PSUs is based on the actual shares that will vest upon completion of the service period. For awards for which the performance period is not yet complete, the number of outstanding PSUs is based on the participants earning 100% of their target PSUs.

Schedule of stock-based compensation expense

Three Months Ended

March 31, 

(in thousands)

 

2025

 

2024

Product development

$

9,266

$

7,373

Sales, marketing and customer support

 

7,629

 

5,936

General and administrative

 

7,447

 

6,932

Total stock-based compensation

$

24,342

$

20,241

Performance share units (PSUs)  
Stock-Based Compensation  
Schedule of valuation assumptions

    

2025

Risk‑free interest rate (percentage)

 

3.9

Expected dividend yield (percentage)

 

Expected volatility (percentage)

 

58.1