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Stockholders' Equity (Tables) | 6 Months Ended
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Jun. 30, 2025
Share-Based Payment Arrangement, Noncash Expense [Abstract] |
Schedule of Share-Based Compensation Expense | The following table summarizes share-based compensation expense included in our condensed consolidated statements of income related to share-based awards (in thousands):
|  | Three Months Ended |  | Six Months Ended
|  | June 30, |  | June 30,
|  | 2025 |  | 2024 |  | 2025 |  | 2024
Research and development |  | $ | 3,545 |  |  | $ | 2,568 |  |  | $ | 6,774 |  |  | $ | 5,913 |
Selling, general and administrative |  | 8,616 |  |  | 6,903 |  |  | 16,060 |  |  | 13,432 |
Total share-based compensation expense |  | $ | 12,161 |  |  | $ | 9,471 |  |  | $ | 22,834 |  |  | $ | 19,345 |
Schedule of Share-Based Compensation Expense by Type | Share-based compensation expense by type of share-based award was as follows (in thousands):
|  | Three Months Ended |  | Six Months Ended
|  | June 30, |  | June 30,
|  | 2025 |  | 2024 |  | 2025 |  | 2024
Stock options |  | $ | 3,773 |  |  | $ | 3,894 |  |  | $ | 7,582 |  |  | $ | 8,193 |
RSUs, PSUs and ESPP |  | 8,388 |  |  | 5,577 |  |  | 15,252 |  |  | 11,152 |
Total share-based compensation expense |  | $ | 12,161 |  |  | $ | 9,471 |  |  | $ | 22,834 |  |  | $ | 19,345 |
Schedule of Valuation Assumptions | The assumptions used in the Black-Scholes Model were as follows:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2025 |  | 2024 |  | 2025 |  | 2024
Expected volatility |  | 40.95 - 40.95% |  | 40.01 - 40.07% |  | 39.68 - 40.95% |  | 40.01 - 40.08%
Average expected term (in years) |  | 5.5 |  | 5.4 |  | 4.8 |  | 5.0
Risk-free interest rate |  | 3.81 - 3.81% |  | 4.64 - 4.70% |  | 3.81 - 4.34% |  | 3.80 - 4.70%
Expected dividend yield |  | — |  |  | — |  |  | — |  |  | — |
Schedule of Unrecognized Estimated Compensation Cost by Type | Total unrecognized estimated compensation cost by type of award and the weighted-average remaining requisite service period over which such expense is expected to be recognized was as follows (in thousands, unless otherwise noted):
|  | June 30, 2025
|  | Unrecognized Expense |  | Remaining Weighted-Average Recognition Period (in years)
Stock options |  | $ | 28,086 |  |  | 2.22
RSUs |  | 58,884 |  |  | 2.74
PSUs |  | 15,184 |  |  | 1.88
ESPP |  | 346 |  |  | 0.35
Schedule of Repurchase Agreements | We had the following share repurchase activity under the approved share repurchase program (in thousands, except share and per share amounts):
|  | 2025
|  | Total Number of Shares Purchased |  | Weighted-Average Price Paid Per Share |  | Total Cost
First quarter(1) |  | 452,453 |  |  | $ | 53.95 |  |  | $ | 24,410 |
Second quarter(2) |  | 5,818,338 |  |  | $ | 52.16 |  |  | 303,490 |
|  | 6,270,791 |  |  | $ | 52.29 |  |  | $ | 327,900 |
(1) The shares we repurchased during the first quarter are part of the ASR initiated in December 2024. (2) Included in the total cost of shares purchased is a commission fee of $0.02 per share.

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- Definition Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of cost not yet recognized and weighted-average period over which cost is expected to be recognized for nonvested award under share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (i) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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