Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2024

Summary of Stock-Based Compensation

Stock-based compensation expense was recorded as follows (in thousands):

	Three Months Ended  September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Cost of revenue – software	$	2,131	$	2,468	$	6,230	$	7,792
Research and development		6,378		7,824		19,356		26,510
Sales and marketing		5,176		6,933		14,675		22,105
General and administrative		3,671		3,301		10,449		10,016
Total stock-based compensation expense	$	17,356	$	20,526	$	50,710	$	66,423

2017 Plan [Member]

Summary of Restricted Stock Units Awarded

The following table summarizes the restricted stock units, or RSUs, awarded under the 2017 Plan for the period:

	Number of RSUs
Outstanding as of December 31, 2023		1,086,351
Granted		382,115
Vested		(417,263	)
Forfeited		(25,869	)
Outstanding as of September 30, 2024		1,025,334

Summary of Stock Option Activity

The following table summarizes the stock option activity under the 2017 Plan for the period:

	Number of options			Weighted average exercise price per share		Weighted average remaining contractual term (years)		Aggregate  intrinsic value  (in millions)
Outstanding as of December 31, 2023		7,602,078		$	52.81		7.8	$	238.3
Granted		417,459		$	79.19
Exercised		(888,029	)	$	49.75
Forfeited		(98,400	)	$	56.80
Outstanding as of September 30, 2024		7,033,108		$	54.70		7.3	$	287.0
Exercisable as of September 30, 2024		3,303,352		$	51.66		6.4	$	144.9