The following table summarizes the total stock-based compensation expense included in the unaudited condensed consolidated statements of operations for the three and six months ended June 30, 2026 and 2025 (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Cost of revenue	$	485	$	709	$	1,001	$	1,492
Research and development	2,502		3,351		5,792		7,536
Selling, general and administrative	17,052		18,767		34,737		37,143
Total stock-based compensation expense	$	20,039	$	22,827	$	41,530	$	46,171

As of June 30, 2026, there were a total of 1.4 million awards outstanding and total unamortized compensation cost of $112.1 million, net of estimated forfeitures, related to restricted stock units (“RSUs”), which the Company expects to recognize over a weighted average period of 1.8 years.

As of June 30, 2026, there were a total of 0.9 million awards outstanding and total unamortized compensation cost of $39.8 million, net of estimated forfeitures, related to performance and market-based RSUs (“PRSUs”), which the Company expects to recognize over a weighted average remaining period of 1.5 years. The number of PRSUs reported as outstanding assumes the maximum number of PRSUs issuable in the key executive grant agreements. The actual number of PRSUs awarded will be based on company performance criteria.

In February 2026, the Company granted market-based PRSUs to senior executive officers with a grant date fair value of $17.6 million. The earned amount of PRSUs will be based on the cumulative annual growth rate (“CAGR”) of annual unit volume calculated between fiscal year 2028 and fiscal year 2025 and measured against performance thresholds, as well as a relative comparison of the S&P Healthcare Equipment Select Industry Index to the Company's Total Shareholder Return (“TSR”). Each PRSU award has a maximum cap of 200% on the payout irrespective of above-median TSR performance, and maximum unit volume CAGR performance level. The grant date fair value of the TSR was determined by using the Monte Carlo valuation model based on the expected term of 2.9 years, interest risk free rate of 3.45%, implied volatility of 49.68% and no dividend yield. The vesting of these February 2026 awards are subject to the recipient senior executive officer's continued employment up through the certification date by the Board of Directors, no later than March 15, 2029.