v3.22.4
Stockholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Option Activity Activity of stock options under the 2005 Plan, 2011 Plan and 2014 Plan (collectively, the “Plans”) is set forth below:
Number of SharesWeighted-Average
Exercise Price		Weighted Average Remaining Contractual Life (in years)Aggregate Intrinsic Value
(in thousands)
Balance at December 31, 20211,141,814 $27.02 
Grants10,120 $197.74 
Exercised(309,004)$25.25 
Canceled/Forfeited(1,157)$22.04 
Balance at December 31, 2022841,773 $29.73 
Vested and expected to vest—December 31, 2022841,046 $29.59 2.85$162,213 
Exercisable—December 31, 2022829,678 $27.38 2.77$161,856 
Summary of Unvested Restricted Stock Activity The activity of unvested restricted stock units (“RSU”) under the Plans is set forth below:
Number
of Shares		Weighted Average
Grant Date
Fair Value
Unvested at December 31, 2021409,482 $210.41 
Granted275,910 187.38 
Released/Vested (151,173)192.66 
Canceled/Forfeited(38,370)212.44 
Unvested at December 31, 2022495,849 $202.84 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions The Company used the following assumptions in its Black-Scholes option pricing model to determine the fair value of stock options and ESPP rights:
Stock OptionsESPP Rights
Year Ended December 31,Year Ended December 31,
20222021202220212020
Expected term (in years)5.622.850.500.500.50
Expected volatility42 %42 %46%43%48%
Risk-free interest rate2.76 %0.38 %1.30%0.10%0.70%
Expected dividend yield— %— %0%0%0%
Schedule of Stock-based Compensation Expense
The following table sets forth the stock-based compensation expense included in the consolidated statements of operations (in thousands):
 Year Ended December 31,
 2022
2021(1)
2020
Cost of sales$3,882 $2,898 $2,304 
Research and development5,908 30,037 3,686 
Sales, general and administrative27,588 32,828 19,551 
$37,378 $65,763 $25,541 
(1) The Company recorded a $25.8 million charge to stock-based compensation related to the acceleration of vesting of all replacement stock options in connection with the Merger. Refer to Note “5. Business Combinations” for more information.