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Stock-Based Compensation (Tables)
 9 Months Ended
Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-Based Compensation Expense
Stock-based compensation expense is as follows (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Cost of revenue$10,334 $19,591 $35,051 $58,241 
Research and development58,582 66,618 203,228 214,159 
Sales and marketing21,885 35,075 108,138 105,272 
General and administrative13,816 25,893 139,476 90,071 
Total stock-based compensation expense$104,617 $147,177 $485,893 $467,743 
Schedule of Stock Option Activity
A summary of our stock option, including price-vested options ("PVO"), activity is as follows:
Options Outstanding
Stock
Options
Outstanding		Weighted-Average
Exercise
Price		Weighted-Average
Remaining
Contractual
Term
(In Years)
Balance as of December 31, 202331,541,466 $19.35 4.79
Granted2,614,966 $21.29 
Exercised(5,847,858)$5.99 
Forfeited, cancelled, or expired(2,073,825)$49.58 
Balance as of September 30, 202426,234,749 $20.12 4.40
Schedule of Restricted Stock Unit Activity
A summary of our restricted stock unit ("RSU"), including price-vested unit ("PVU"), activity is as follows:
Unvested RSUs
Number of
Shares		Weighted-Average
Grant-Date
Fair Value
Unvested as of December 31, 202337,332,551 $38.31 
Granted18,743,697 $15.60 
Vested(10,722,702)$40.09 
Forfeited(10,401,800)$38.12 
Unvested as of September 30, 202434,951,746 $25.65 
Schedule of Grant-Date Fair Value of Stock Options Granted
The calculated grant-date fair value of stock options, PVUs, and PVOs granted, were estimated using the Black-Scholes option-pricing model for stock options, and a Monte Carlo stimulation for the PVUs and PVOs, with the following assumptions:
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Expected dividend yield————
Risk-free interest rate
3.5% - 4.2%
4.4%
3.5% - 4.4%
3.8% - 4.4%
Expected volatility
60.0% - 67.3%
58.0%
60.0% - 67.3%
54.7% - 58.0%
Expected term (in years)
6.25 - 10.00
6.25
6.25 - 10.00
6.25
Fair value of underlying common stock
$15.60 - $16.75
$39.29
$15.60 - $26.89
$29.33 - $39.29
Schedule of Grant-Date Fair Values of ESPP The following table summarizes the assumptions used and the resulting grant-date fair values of our ESPP:
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Expected dividend yield————
Risk-free interest rate4.9%5.5%
4.9% - 5.3%
5.2% - 5.5%
Expected volatility49.3%65.9%
49.3% - 56.0%
65.9% - 94.5%
Expected term (in years)0.500.500.500.50
Grant-date fair value per share$4.82$12.65
$4.82 - $9.11
$12.44 - $12.65
Schedule of Additional Information Related to ESPP
Additional information related to the ESPP is provided below (in thousands, except per share amounts):
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Shares issued under the ESPP610,458531,8201,161,6041,064,463
Weighted-average price per share issued$13.91$25.25$19.13$25.56