v3.26.3
STOCK-BASED COMPENSATION (Tables)
 9 Months Ended
Sep. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-Based Compensation Expense
The Company recognized stock-based compensation expense as follows for the periods presented (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Cost of revenue$3,701 $1,916 $6,939 $5,502 
Research and development (“R&D”)24,344 12,578 48,102 36,725 
Selling, general and administrative (“SG&A”)77,929 46,183 145,215 131,354 
Total stock-based compensation expense$105,974 $60,677 $200,256 $173,581 
Tax benefit related to stock-based compensation (1)
$1,278 $756 $2,643 $1,919 
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(1)Amount reflects the tax benefit related to stock-based compensation recorded for equity awards that are expected to generate tax deductions when they vest in future periods. Equity awards granted to the Company’s executive officers are subject to the tax deduction limitations set by Section 162(m) of the Internal Revenue Code.
Schedule of RSU Activity
A summary of RSU activity is presented in the table below (in thousands, except per-share amounts):
Total Time-based RSUs, PSUs, MSUs and MPSUs
Number of SharesWeighted-Average Grant Date Fair Value Per Share
Outstanding at January 1, 2026771$535.78 
Granted948
(1)
$875.43 
Vested(88)$448.03 
Forfeited(54)$586.63 
Outstanding at September 30, 20261,577$747.94 
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(1)Amount reflects the number of awards that may ultimately be earned based on management’s probability assessment of the achievement of performance conditions at each reporting period.