Stock Incentive Plans and Stock-Based Compensation (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Share-Based Payment Arrangement [Abstract] |
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| Schedule of Share-based Payment Arrangement on Stock Option Activity |
Stock option activity under our stock plans for the six months ended June 30, 2026 is set forth below: | | | | | | | | | | | | | | | | | | | | | | | | | | | | Weighted-Average | | | | | Stock Options
Outstanding | | Exercise
Price | | Remaining
Contractual
Term (Years) | | Aggregate
Intrinsic
Value
(in thousands) | | Balance as of December 31, 2025 | 2,784,432 | | | $ | 36.53 | | | | | | | | | | | | | | | Granted | — | | | $ | — | | | | | | | Exercised | (61,484) | | | $ | 6.79 | | | | | | | Forfeited/Cancelled | (38,245) | | | $ | 46.61 | | | | | | | Balance as of June 30, 2026 | 2,684,703 | | | $ | 37.06 | | | 4.1 | | $ | 8,172 | | Exercisable as of June 30, 2026 | 2,684,037 | | | $ | 37.07 | | | 4.1 | | $ | 8,172 | |
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| Schedule of Share-based Payment Arrangement on Restricted Stock Units |
The following table summarizes our RSU activity for the six months ended June 30, 2026: | | | | | | | | | | | | | Restricted Stock Units Outstanding | | Weighted-Average Grant Date Fair Value | Balance as of December 31, 2025 | 3,395,762 | | | $ | 22.42 | | | Granted | 1,725,974 | | | $ | 25.67 | | Vested(1) | (847,046) | | | $ | 21.25 | | | Forfeited/Cancelled | (126,917) | | | $ | 24.30 | | Balance as of June 30, 2026 | 4,147,773 | | $ | 23.95 | |
(1)The aggregate number of shares withheld upon vesting for employee tax obligations was 240,690 for the six months ended June 30, 2026.
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| Schedule of Share-Based Payment Arrangement, Performance Shares, Activity |
The following table summarizes our PSU activity for the six months ended June 30, 2026: | | | | | | | | | | | | | Performance-Based Restricted Stock Units Outstanding | | Weighted-Average Grant Date Fair Value | Balance as of December 31, 2025 | 350,144 | | | $ | 21.72 | | | Granted | 172,397 | | | $ | 27.57 | | Vested(1) | (88,757) | | | $ | 21.23 | | | Forfeited/Cancelled | — | | | $ | — | | Balance as of June 30, 2026 | 433,784 | | | $ | 24.15 | |
(1)The aggregate number of shares withheld upon vesting for employee tax obligations was 28,797 for the six months ended June 30, 2026.
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| Schedule of Share-based Payment Award, ESPP, Valuation Assumptions |
The following table sets forth assumptions used to determine the fair value of the purchase rights issued under the ESPP: | | | | | | | | | | | | | | Six Months Ended
June 30, | | 2026 | | 2025 | | Average expected term (years) | 1.2 | | 1.2 | Expected stock price volatility | 54.54% - 58.00% | | 56.55% - 85.21% | | Risk-free interest rate | 3.41% - 3.61% | | 3.88% - 4.22% | | Dividend yield | —% | | —% | | | | |
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| Schedule of Share-based Payment Arrangement, Expensed and Capitalized, Amount |
Stock-based compensation expense is included in the condensed consolidated statements of operations as follows (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended
June 30, | | Six Months Ended
June 30, | | | 2026 | | 2025 | | 2026 | | 2025 | | Cost of sales (exclusive of amortization of acquired intangible assets) | $ | 1,420 | | | $ | 1,422 | | | $ | 2,677 | | | $ | 2,878 | | | Research and development | 1,678 | | | 1,962 | | | 3,121 | | | 3,857 | | | Selling, general and administrative | 8,491 | | | 7,824 | | | 15,567 | | | 15,652 | | | Total stock-based compensation expense | $ | 11,589 | | | $ | 11,208 | | | $ | 21,365 | | | $ | 22,387 | |
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