Stock-Based Compensation Expense

9 Months Ended

Sep. 30, 2024

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation Expense

13. Stock-Based Compensation Expense

The following two tables show stock-based compensation expense by award type and where the stock-based compensation expense is recorded in the Company’s consolidated statements of operations:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
	(in thousands)				(in thousands)
Options	$	1,917	$	2,958	$	6,309	$	8,798
RSUs		117,895		96,638		334,637		287,575
PSUs		6,356		3,866		17,524		9,882
Employee stock purchase plan		4,098		4,044		11,912		12,290
Total stock-based compensation expense	$	130,266	$	107,506	$	370,382	$	318,545

Effect of stock-based compensation expense on income by line item:
 

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
	(in thousands)				(in thousands)
Cost of revenue, subscription	$	6,408	$	3,157	$	16,811	$	9,110
Cost of revenue, professional services and other		1,113		1,201		3,328		3,748
Research and development		62,595		49,460		177,914		146,845
Sales and marketing		36,218		34,439		107,543		103,233
General and administrative		23,932		19,249		64,786		55,609
Total stock-based compensation expense	$	130,266	$	107,506	$	370,382	$	318,545

Capitalized software development costs excluded from stock-based compensation expense were $10.7 million for the three months ended September 30, 2024, $29.7 million for the nine months ended September 30, 2024, $6.9 million for the three months ended September 30, 2023, and $21.0 million for the nine months ended September 30, 2023. Also excluded from stock-based compensation expense in the nine months ended September 30, 2023 was $1.0 million incurred in connection with the Restructuring Plan. See Note 15 for more details.