Quarterly report [Sections 13 or 15(d)]

Stock-based Compensation (Tables)

v3.26.3
Stock-based Compensation (Tables)
9 Months Ended
Sep. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Nonvested Restricted Stock Units Activity
A summary of RSU activity for the nine months ended September 30, 2026 is as follows (in thousands, except share and per share data):
Number of Units Weighted-Average Grant Date Fair Value Per Share Aggregate Intrinsic Value (in thousands)
Balances—December 31, 2025
43,604,550 $ 8.14  $ 575,580 
Granted 29,069,094 $ 10.35 
Vested (12,801,158) $ 7.42 
Forfeited (5,236,716) $ 9.62 
Balances—September 30, 2026
54,635,770 $ 9.34  $ 330,546 
Summary of Stock-Based Compensation Expense
The following sets forth the total stock-based compensation expense for the Company’s stock awards included in the Company’s condensed consolidated statements of operations (in thousands):
Three Months Ended September 30, Nine Months Ended September 30,
2026 2025 2026 2025
Research and development expenses $ 39,529  $ 25,394  $ 107,439  $ 68,724 
Selling, general and administrative expenses 15,136  7,476  43,242  17,723 
Total stock-based compensation expense $ 54,665  $ 32,870  $ 150,681  $ 86,447