v3.25.2
Employee Benefits and Share-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-Based Compensation Expense
The following table sets forth the total share-based compensation expense recognized in the Company’s Condensed Consolidated Statements of Operations:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
(In thousands)
Cost of product and service revenues$1,207 $1,620 $2,925 $3,175 
Research and development1,022 1,139 2,242 2,214 
Selling, general, and administrative8,301 7,272 16,149 13,283 
Total share-based compensation expense$10,530 $10,031 $21,316 $18,672 
Schedule of Assumptions Used to Value ESPP Shares
The following assumptions were used to value shares under the ESPP:
Three and Six Months Ended June 30,
20252024
Expected life, years
0.5 - 2.0
0.5 - 2.0
Expected volatility, %
45.8% - 58.7%
33.7% - 57.0%
Risk-free interest rate, %
4.1% - 5.2%
1.5% - 5.5%
Dividend yield, % — %— %
Schedule of Share Option Activity
The following table summarizes the stock option activity under the 2009 Plan:
Number of
Shares		Weighted-Average
Exercise Price		Weighted-Average
Remaining Years		Aggregate
Intrinsic Value
(In thousands, except per share data)
Outstanding at December 31, 20241,760 $67.51 3.6$2,619 
Granted— — 
Exercised(1)30.92 
Expired(131)70.64 
Forfeited— — 
Outstanding at June 30, 20251,628 $67.29 3.2$84 
Exercisable at June 30, 20251,627 $67.23 3.2$84 
Vested and expected to vest at June 30, 2025 and thereafter1,628 $67.28 3.2$84 
Schedule of Restricted Stock Unit Activity
The following table summarizes the RSU activity under the 2009 Plan:
Number of
Shares		Weighted-Average
Grant Date Fair Value		Weighted-Average
Remaining Years		Aggregate
Intrinsic Value
(In thousands, except per share data)
Outstanding at December 31, 20241,614 $54.58 1.6$71,849 
Granted 186 33.09 
Vested (186)73.11 
Forfeited(214)54.66 
Outstanding and unvested at June 30, 20251,400 $49.27 1.3$41,166 
Schedule of Performance-Based Restricted Stock Activity
The following table summarizes the PSU activity under the 2009 Plan:
Number of
Shares		Weighted-Average
Grant Date Fair Value
(In thousands, except per share data)
Outstanding at December 31, 2024177 $28.67 
Granted (Awarded)139 32.66 
Additional granted based on performance achievement135 28.67 
Vested (Released)(97)28.67 
Forfeited— — 
Outstanding and unvested at June 30, 2025354 $30.24 
Schedule of Ordinary Shares Reserved for Future Issuance Under Equity Incentive Plans
The Company had the following ordinary shares reserved for future issuance under its equity incentive plans as of June 30, 2025:
Number of Shares
(In thousands)
Stock options outstanding1,628 
Non-vested restricted stock awards1,808 
Shares authorized for future issuance4,691 
ESPP shares available for future issuance2,391 
Total shares reserved for future issuance10,518