Hey Joe,
When I worked for MaritzCX.com we had this same fight and dilemma all of the time. There are definitely pro's and con's to doing either option, but I strongly believe option 2 to be your best course of action.
The main reason to stick with one domain for your entire organization is domain authority. While you can have drastically different sites for each subfolder (if you want), you will be building domain authority to company.com from each and every subdomain folder. It is smart to purchase company.fr and redirect it to company.com/fr for ease of use.
If you build out sites on different domains (i.e. company.com, company.fr, company.br) then each domain will have separate domain authority.
Tracking one domain is much easier with tools such as Moz, Brightedge, Google Search Console, etc.
Hope this helps. If you want more info, let me know, but I think subdomain folders will search your company and search efforts the best.