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Stock-based Compensation Expense (Tables) | 9 Months Ended
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Sep. 30, 2025
Stock-based Compensation Expense [Abstract] |
Stock-Based Compensation Expense | The following table summarizes stock-based compensation expense for the three and nine months ended September 30, 2025 and 2024 (in thousands):
| Three Months Ended |  | Nine Months Ended
| September 30, |  | September 30,
|  | 2025 |  |  |  | 2024 |  |  |  | 2025 |  |  |  | 2024 |
Cost of sales | $ | 145 |  |  | $ | 159 |  |  | $ | 855 |  |  | $ | 609 |
Research, development and patent expense |  | 20,757 |  |  |  | 22,120 |  |  |  | 60,597 |  |  |  | 67,111 |
Selling, general and administrative expense |  | 10,244 |  |  |  | 9,705 |  |  |  | 29,102 |  |  |  | 26,332 |
Stock-based compensation expense, net of amounts capitalized |  | 31,146 |  |  |  | 31,984 |  |  |  | 90,554 |  |  |  | 94,052 |
Capitalized stock-based compensation expense |  | 435 |  |  |  | 506 |  |  |  | 1,435 |  |  |  | 506 |
Total stock-based compensation expense | $ | 31,581 |  |  | $ | 32,490 |  |  | $ | 91,989 |  |  | $ | 94,558 |
Weighted-Average Assumptions for Stock Options | Employee Stock Options:
| Nine Months Ended
| September 30,
|  | 2025 |  |  |  | 2024 |
Risk-free interest rate |  | 4.4 | % |  |  | 4.1 | %
Dividend yield |  | 0.0 | % |  |  | 0.0 | %
Volatility |  | 42.1 | % |  |  | 43.8 | %
Expected life |  | 6.3 years |  |  |  | 6.3 years |
Board of Director Stock Options:
| Nine Months Ended
| September 30,
|  | 2025 |  |  |  | 2024 |
Risk-free interest rate |  | 4.0 | % |  |  | 4.5 | %
Dividend yield |  | 0.0 | % |  |  | 0.0 | %
Volatility |  | 43.0 | % |  |  | 49.8 | %
Expected life |  | 7.4 years |  |  |  | 7.5 years |
Weighted-Average Assumptions for ESPP | ESPP:
| Nine Months Ended
| September 30,
|  | 2025 |  |  |  | 2024 |
Risk-free interest rate |  | 4.2 | % |  |  | 5.2 | %
Dividend yield |  | 0.0 | % |  |  | 0.0 | %
Volatility |  | 48.2 | % |  |  | 37.8 | %
Expected life |  | 6 months |  |  |  | 6 months |

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