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Stockholders' Equity (Tables)
3 Months Ended
Mar. 31, 2024
Stockholders' Equity  
Summary of Restricted Stock Unit Activity

The following table summarizes RSU activity for the three months ended March 31, 2024 (number of units and aggregate intrinsic value in thousands):

    

Number of

    

Weighted Average

    

Aggregate

Units

Grant-Date Fair Value

Intrinsic Value

Units outstanding, beginning of year

 

1,615

$

193.09

 

  

Granted

 

478

257.49

 

  

Released

 

(174)

213.88

 

  

Forfeited

 

(42)

186.93

 

  

Units outstanding, end of period

 

1,877

$

207.73

$

587,321

Summary of Performance Stock Unit Activity

The following table summarizes PSU activity for the three months ended March 31, 2024 (number of units and aggregate intrinsic value in thousands):

    

Number of

    

Weighted Average

    

Aggregate

Units

Grant-Date Fair Value

Intrinsic Value

Units outstanding, beginning of year

 

394

$

201.61

 

  

Granted

 

15

 

284.00

 

  

Released

 

(1)

 

180.89

 

  

Forfeited

 

(7)

 

93.32

 

  

Units outstanding, end of period

 

401

$

206.75

$

125,533

Reported Share-Based Compensation

The following table summarizes the composition of stock-based compensation expense for the three months ended March 31, 2024 and 2023 (in thousands):

Three Months Ended March 31, 

    

2024

    

2023

Cost of product sales and service sales

$

29,595

$

1,320

Sales, general and administrative expenses

 

23,155

 

15,445

Research and development expenses

 

22,365

 

17,585

Total stock-based compensation expense

$

75,115

$

34,350