Share-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 Employee Service Share-based Compensation, Allocation of Recognized Period Costs |
Share based compensation expense recorded in the consolidated statements of operations was as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | June 30, 2026 | | June 30, 2025 | | June 30, 2026 | | June 30, 2025 | | (in thousands) | Research and Development | $ | 7,016 | | | $ | 7,427 | | | $ | 13,614 | | | $ | 13,016 | | Sales and Operations | 2,801 | | | 7,361 | | | 5,757 | | | 12,782 | | General and Administrative | 7,042 | | | 8,376 | | | 12,547 | | | 14,030 | | | Total Share based compensation expense | $ | 16,859 | | | $ | 23,164 | | | $ | 31,918 | | | $ | 39,828 | | Share based Compensation capitalized as internal-use software costs | (417) | | | (1,379) | | | (2,130) | | | (2,634) | | | Total Share based compensation expense net of capitalization | $ | 16,442 | | | $ | 21,785 | | | $ | 29,788 | | | $ | 37,194 | |
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| Schedule of Nonvested Restricted Stock Units Activity |
The following table summarizes the activities for our unvested RSUs for the period ended June 30, 2026:
| | | | | | | | | | | | | Shares (RSU) | | Weighted-Average Grant date Fair Value Per Share | | | Outstanding as of December 31, 2025 | 4,518,697 | | | $ | 33.14 | | | Granted | 800,203 | | | 18.10 | | | Vested | (528,353) | | | 29.81 | | | Forfeited | (259,756) | | | 34.19 | | Outstanding as of June 30, 2026 | 4,530,791 | | | $ | 30.81 | |
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| Share-Based Payment Arrangement, Performance Shares, Activity |
The following table summarizes the activities for our unvested Financial PSUs for the period ended June 30, 2026 (1):
| | | | | | | | | | | | | Shares (Financial PSU) | | Weighted-Average Grant date Fair Value Per Share | | | Outstanding as of December 31, 2025 | 442,139 | | | $ | 31.89 | | Granted | 392,985 | | | 24.74 | | Performance share adjustment | (76,531) | | | 18.57 | | | Vested | (208,484) | | | 32.54 | | | Forfeited | (15,615) | | | 31.31 | | Outstanding as of June 30, 2026 | 534,494 | | | $ | 28.49 | |
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| Share Based Compensation Performance Shares Award Total Shareholder Return Unvested Activity |
The following table summarizes the activities for our unvested TSR PSUs for the period ended June 30, 2026:
| | | | | | | | | | | | | Shares (TSR PSU) | | Weighted-Average Grant date Fair Value Per Share | | | Outstanding as of December 31, 2025 | 313,383 | | | $ | 54.41 | | Granted | 332,743 | | | 26.89 | | | Vested | (23,699) | | | 51.28 | | | Forfeited | (121,859) | | | 54.57 | | Outstanding as of June 30, 2026 | 500,568 | | | $ | 36.21 | |
(1) The number of Financial PSUs granted during the six months ended June 30, 2026 includes 60,242 PSUs previously modified from TSR PSUs, for which financial performance targets were established in March 2026 for the 2026 performance tranche. The grant-date fair value was determined based on a Monte-Carlo valuation model using the following key assumptions: | | | | | | | Expected volatility of the Company | 39.70 | % | | Expected volatility of the benchmark | 81.68 | % | | Risk-free rate | 3.71 | % | | Expected dividend yield | — | % |
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| Schedule of Stockholders' Equity Note, Warrants or Rights |
| | | | | | | | | | | | | | | | | | | | | | | | | Shares | | Weighted-Average Grant date Fair Value Per Share | | Weighted-Average Remaining Contractual Term (Years) | | Aggregate Intrinsic Value (in thousands) | | | | | | | Outstanding as of December 31, 2025 | 159,897 | | | $ | 18.31 | | | 2.6 | | $ | 1,300.0 | | | Granted | — | | | | | | | | | Exercised | — | | | | | | | | | Canceled | — | | | | | | | | | Expired | (7,730) | | | | | | | | Outstanding as of June 30, 2026 | 152,167 | | | $ | 17.01 | | | 2.2 | | $ | 1,093.0 | | | | | | | | | | Vested and exercisable - June 30, 2026 | 152,167 | | | | | | | |
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| Schedule of Stock Options Roll Forward |
| | | | | | | | | | | | | | | | | | | | | | | | | Options Outstanding | | Number of Shares Underlying Outstanding Options | | Weighted-Average Exercise Price | | Weighted-Average Remaining Contractual Term (Years) | | Aggregate Intrinsic Value (in thousands) | | | | Outstanding as of December 31, 2025 | 86,715 | | | $ | 17.35 | | | 4.0 | | $ | 276.0 | | | Options granted | — | | | | | | | | | Options exercised | — | | | | | | | | | Options forfeited | — | | | | | | | | | Options canceled | — | | | | | | | | | Options expired | (86,715) | | | | | | | | Outstanding as of June 30, 2026 | — | | | $ | — | | | 0.0 | | $ | — | | | | | | | | | | Vested and exercisable as of June 30, 2026 | — | | | | | | | |
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