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Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2024

Stockholders' Equity Note [Abstract]

Stock-based Compensation Expense

Stock-based compensation related to our stock-based awards and employee stock purchase plan for the year ended December 31, 2024, 2023 and 2022 is as follows (in thousands):

						Year Ended December 31,
						2024						2023						2022
Cost of net revenues						$	6,995					$	7,462					$	6,438
Selling, general and administrative						123,979						115,992						103,134
Research and development						42,729						30,572						23,795
Total stock-based compensation						$	173,703					$	154,026					$	133,367

Summary of Nonvested Shares

A summary for the year ended December 31, 2024 is as follows:

						Number of Shares Underlying RSUs (in thousands)						Weighted Average Grant Date Fair Value						Weighted Average Remaining Contractual Term (in years)						Aggregate Intrinsic Value (in thousands)
Unvested as of December 31, 2023						736						$	367.63
Granted						657						307.12
Vested and released						(256)						370.36
Forfeited						(118)						340.47
Unvested as of December 31, 2024						1,019						$	331.10					1.4						$	212,468

Summary of Nonvested Shares

The following table summarizes MSU activity for the year ended December 31, 2024:

						Number of Shares Underlying MSUs (in thousands)						Weighted Average Grant Date Fair Value						Weighted Average Remaining Contractual Term (in years)						Aggregate Intrinsic Value (in thousands)
Unvested as of December 31, 2023						158						$	811.06
Granted						83						617.79
Vested and released						(32)						1,102.09
Forfeited						(16)						809.22
Unvested as of December 31, 2024						193						$	679.14					1.4						$	40,272

Summary of Weighted Average Assumptions Used for MSUs

The weighted average assumptions used in the Monte Carlo simulation were as follows: 

						Year Ended December 31,
						2024						2023						2022
Expected term (in years)						3.0						3.0						3.0
Expected volatility						52.0		%				59.1		%				53.8		%
Risk-free interest rate						4.3		%				4.3		%				1.7		%
Expected dividends						—						—						—
Weighted average fair value per share at grant date						$	617.79					$	629.53					$	915.22

Summary of PSU Activity

The following table summarizes the PSU performance activity for the year ended December 31, 2024:

						Number of Shares Underlying PSUs (in thousands)						Weighted Average Grant Date Fair Value						Weighted Average Remaining Contractual Term (in years)						Aggregate Intrinsic Value (in thousands)
Unvested as of December 31, 2023						$	5					$	201.63
Granted						6						206.36
Vested and released						—						—
Forfeited						—						—
Unvested as of December 31, 2024						$	11					$	204.33					1.2						$	2,299

Schedule of ESPP Share Activity

The following table summarizes the ESPP shares issued:

						Year Ended December 31,
						2024						2023						2022
Number of shares issued (in thousands)						120						114						86
Weighted average price						$	213.11					$	234.19					$	305.24

Summary of Weighted Average Assumptions Used for ESPP

The fair value of the option component of the 2010 Purchase Plan shares was estimated at the grant date using the Black-Scholes option pricing model with the following weighted average assumptions:

						Year Ended December 31,
						2024						2023						2022
Expected term (in years)						1.3						1.2						1.5
Expected volatility						49.2		%				56.4		%				50.2		%
Risk-free interest rate						4.6		%				4.9		%				1.8		%
Expected dividends						—						—						—
Weighted average fair value at grant date						$	94.75					$	132.94					$	159.44

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