v3.26.1
Stock-based Compensation Expense (Tables)
6 Months Ended
Jun. 30, 2026
Stock-based Compensation Expense [Abstract]  
Stock-Based Compensation Expense
The following table summarizes stock-based compensation expense for the three and six months ended June 30, 2026 and 2025 (in thousands):
 
 Three Months Ended Six Months Ended
 June 30, June 30,
  2026   2025   2026   2025 
Cost of sales$176  $610  $323  $710 
Research, development and patent expense 25,098   19,542   49,804   39,840 
Selling, general and administrative expense 20,321   9,538   38,743   18,858 
Stock-based compensation expense, net of amounts capitalized 45,595   29,690   88,870   59,408 
Capitalized stock-based compensation expense  -    509   18   1,000 
Total stock-based compensation expense$45,595  $30,199  $88,888  $60,408 
Weighted-Average Assumptions for Stock Options
Employee Stock Options:
 
 Six Months Ended
 June 30,
 2026 2025
Risk-free interest rate  3.9%  4.5%
Dividend yield  0.0%  0.0%
Volatility  43.1%  42.0%
Expected life6.3 years 6.3 years
Board of Directors Stock Options:
 
  Six Months Ended 
  June 30, 
  2026 
Risk-free interest rate  4.4%
Dividend yield  0.0%
Volatility  42.4%
Expected life 7.3 years 
Weighted-Average Assumptions for ESPP
ESPP:
 
 Six Months Ended
 June 30,
 2026 2025
Risk-free interest rate  3.6%  4.3%
Dividend yield  0.0%  0.0%
Volatility  51.7%  41.3%
Expected life6 months 6 months