v3.26.1
Stockholders' Equity (Tables)
 6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement, Noncash Expense [Abstract]  
Schedule of Share-Based Compensation Expense
The following table summarizes share-based compensation expense included in our condensed consolidated statements of income related to share-based awards (in thousands):
Three Months EndedSix Months Ended
June 30,June 30,
2026202520262025
Research and development$4,755 $3,545 $9,799 $6,774 
Selling, general and administrative12,943 8,616 24,536 16,060 
Total share-based compensation expense$17,698 $12,161 $34,335 $22,834 
Schedule of Share-Based Compensation Expense by Type
Share-based compensation expense by type of share-based award was as follows (in thousands):
Three Months EndedSix Months Ended
June 30,June 30,
2026202520262025
Stock options$4,404 $3,773 $9,944 $7,582 
RSUs, PSUs and ESPP13,294 8,388 24,391 15,252 
Total share-based compensation expense$17,698 $12,161 $34,335 $22,834 
Schedule of Valuation Assumptions The assumptions used in the Black-Scholes Model were as follows:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Expected volatility
40.14 - 40.20%
40.95 - 40.95%
29.91 - 41.95%
39.68 - 40.95%
Average expected term (in years)4.75.54.74.8
Risk-free interest rate
3.97 - 4.08%
3.81 - 3.81%
3.62 - 4.08%
3.81 - 4.34%
Expected dividend yield— — — — 
Schedule of Unrecognized Estimated Compensation Cost by Type
Total unrecognized estimated compensation cost by type of award and the weighted-average remaining requisite service period over which such expense is expected to be recognized was as follows (in thousands, unless otherwise noted):
June 30, 2026
Unrecognized
Expense
Remaining
Weighted-Average
Recognition Period
(in years)
Stock options$33,461 2.36
RSUs69,922 2.69
PSUs36,834 1.99
ESPP300 0.34
Schedule of Repurchase Agreements
We had the following share repurchase activity under the approved share repurchase programs (in thousands, except share and per share amounts):
2026
Total Number of Shares Purchased
Weighted-Average Price Paid Per Share
Total Cost
First quarter— $— $— 
Second quarter(1)
4,801,364 $69.30 332,729 
4,801,364 $— $332,729 
(1) Included in the total cost of shares purchased is a commission fee of $0.02 per share.