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Stockholders' Equity (Tables)
 6 Months Ended
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 EndedSix Months Ended
June 30,June 30,
 2025202420252024
Research and development$3,545 $2,568 $6,774 $5,913 
Selling, general and administrative8,616 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 EndedSix Months Ended
June 30,June 30,
 2025202420252024
Stock options$3,773 $3,894 $7,582 $8,193 
RSUs, PSUs and ESPP8,388 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,
 2025202420252024
Expected volatility
40.95 - 40.95%
40.01 - 40.07%
39.68 - 40.95%
40.01 - 40.08%
Average expected term (in years)5.55.44.85.0
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
RSUs58,884 2.74
PSUs15,184 1.88
ESPP346 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.