v3.26.1
Stock-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Summary of Stock-Based Compensation Expense Included on Statements of Operations
The following table presents stock-based compensation included on the condensed consolidated statements of operations (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Stock-based compensation expense:
Stock options$4,974 $4,992 $9,764 $10,815 
RSUs3,544 4,656 6,923 8,370 
$8,518 $9,648 $16,687 $19,185 
Stock-based compensation expense in operating expenses:
Research and development$2,355 $2,761 $4,660 $5,073 
Selling, general and administrative6,163 6,887 12,027 14,112 
$8,518 $9,648 $16,687 $19,185 
Stock-based compensation expense capitalized into inventory totaled $— during the three months ended June 30, 2026 and $0.3 million during the six months ended June 30, 2026. There was no stock-based compensation expense capitalized into inventory during the three and six months ended June 30, 2025. Capitalized stock-based compensation is recognized as an expense in cost of sales when the related product is sold.
Summary of Stock Option Activity under Equity Plans
The following table summarizes stock option activity and related information during the six months ended June 30, 2026:
Number of
Options		Weighted-
Average
Exercise
Price		Aggregate
Intrinsic
Value
(in thousands)		Weighted-
Average
Remaining
Contractual
Life
(in years)
Outstanding at December 31, 202523,932,504 $4.97 $17 7.9
Granted393,600 $7.25 
Exercised(409,276)$4.00 
Forfeited/expired(358,043)$5.13 
Outstanding at June 30, 202623,558,785 $5.03 $100,928 7.5
Vested and exercisable at June 30, 202614,788,581 $5.68 $58,501 6.9
Summary of RSU Activity under Equity Plans
The following table summarizes RSU activity during the six months ended June 30, 2026:
Number of
Units
Weighted-
Average
Grant Date
Fair Value
Nonvested balance at December 31, 20258,127,668 $6.56 
Granted320,048 $7.42 
Vested(2,271,063)$3.98 
Forfeited/canceled(245,573)$4.48 
Nonvested balance at June 30, 20265,931,080 $7.68