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SHAREHOLDERS’ EQUITY (Tables)
12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
Schedule of Weighted-Average Assumptions Used in BSM Model to Calculate Fair Value of Options
The following table sets forth the key weighted-average assumptions used in the BSM Model to calculate the fair value of options:
Year Ended December 31,
202420232022
Expected holding period - years4.34.14.7
Expected volatility43.4%45.4%36.5%
Risk-free interest rate3.7%3.8%1.9%
Expected dividend yield0.0%0.0%0.0%
Schedule of Grant Date Fair Value and Stock-based Compensation Expense Allocated
The following table summarizes the grant date fair values of stock options and restricted shares issued during the period as well as the allocation of stock-based compensation expense to Total direct costs, and Selling, general and administrative reported in the consolidated statements of operations:
Year Ended December 31,
202420232022
Weighted average, grant date fair value
Stock options$148.85 $85.30 $47.57 
Restricted shares (RSAs and RSUs)$372.17 $225.69 $149.87 
Stock-based compensation expense allocated to:
Total direct costs$11,117 $11,099 $11,801 
Selling, general, and administrative14,397 9,417 9,611 
Total stock-based compensation expense$25,514 $20,516 $21,412 
Schedule of Stock Option Activity
The following table sets forth the Company’s stock option activity:
Year Ended December 31,
202420232022
Options Weighted Average Exercise PriceOptions Weighted Average Exercise PriceOptions Weighted Average Exercise Price
Outstanding - beginning of Period1,343,287$100.75 1,629,148$89.71 1,992,915$68.39 
Granted81,192$378.45 12,437$211.25 252,490$138.91 
Exercised(274,733)$57.73 (287,048)$39.64 (579,407)$38.10 
Cancelled/Forfeited/Expired(6,378)$186.83 (11,250)$183.04 (36,850)$85.40 
Outstanding - end of period1,143,368$130.33 1,343,287$100.75 1,629,148$89.71 
Exercisable - end of period814,980$110.86 901,865$74.79 1,116,255$60.52 
Schedule of Restricted Share Activity
The following table sets forth the Company’s Restricted Share activity:
Year Ended December 31,
202420232022
Shares/Units Shares/Units Shares/Units
Outstanding and unvested - beginning of period390,998523,377602,187
Granted132,91746,836165,595
Vested(130,934)(154,618)(197,000)
Forfeited(27,489)(24,597)(47,405)
Outstanding and unvested - end of period365,492390,998523,377
Schedule of Stock Options Expected To Vest, Stock Options Exercisable, and Unvested Restricted Share Awards Expected To Vest
The following table summarizes information about stock options expected to vest, stock options exercisable, and unvested restricted share awards expected to vest at December 31, 2024:
Weighted Average
Exercise
Price
Stock
Options
Restricted
Shares/Units
Weighted Average
 Remaining
Life (Years)
Number of stock options expected to vest$130.33 1,143,3682.4
Number of restricted shares/units expected to vest365,492
Total expected to vest1,143,368365,492
Total stock options exercisable$110.86 814,9802.4
Unrecognized compensation cost (in thousands)$7,287 $57,902 
Weighted average years over which unrecognized compensation cost will be recognized2.84.0
Schedule of Aggregate Intrinsic Value of Stock Options Exercised, Fair Values of Awards Vested, and Share Based Liabilities Settled
The following table sets forth the aggregate intrinsic value of stock options exercised, the fair values of awards vested, and share based liabilities settled during the respective periods (in thousands):
Year Ended December 31,
202420232022
Total intrinsic value of stock options exercised$89,298 $56,548 $77,257 
Total grant-date fair value of stock options vested$13,992 $3,591 $5,228 
Total grant-date fair value of restricted shares vested$12,903 $9,306 $9,248 
Total settlement date fair value of restricted shares vested$49,503 $31,842 $32,802