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Stock-Based Compensation | 9 Months Ended
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Sep. 30, 2025
Share-Based Payment Arrangement [Abstract] |
Stock-Based Compensation | (13) Stock-Based Compensation Equity Incentive Plans Stock-based awards include (i) time-based RSUs, (ii) performance-based RSUs based on the achievement of adjusted EBITDA targets, (iii) performance-based RSUs based on the Company’s total stockholder return relative to a group of peers over a three-year performance period and (iv) employee stock purchase plan rights. The Company grants RSUs to employees and directors under the 2022 Stock Incentive Plan and issues shares of common stock under the 2014 Employee Stock Purchase Plan pursuant to its employee stock purchase program. The following tables present the activity for the RSUs:
|  | Nine Months Ended September 30, 2025 |
|  | Quantity |  |  | Weighted Average Grant Date Fair Value Per Share |
Beginning of period |  |  | 0.9 |  |  | $ | 104.83 |
Granted |  |  | 0.7 |  |  | $ | 77.06 |
Vested or forfeited |  |  | (0.4 | ) |  | $ | 102.69 |
End of period |  |  | 1.2 |  |  | $ | 88.93 |
|  | Nine Months Ended September 30, 2024 |
|  | Quantity |  |  | Weighted Average Grant Date Fair Value Per Share |
Beginning of period |  |  | 1.0 |  |  | $ | 98.36 |
Granted |  |  | 0.5 |  |  | $ | 122.18 |
Vested or forfeited |  |  | (0.5 | ) |  | $ | 107.30 |
End of period |  |  | 1.0 |  |  | $ | 104.49 |
Stock-Based Compensation Expense The pre-tax effect of stock-based compensation expense included in the Company’s condensed consolidated statements of operations and comprehensive income (loss) was as follows:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Cost of revenues |  | $ | 1 |  |  | $ | 2 |  |  | $ | 4 |  |  | $ | 5 |
Research and development expense |  |  | 2 |  |  |  | 2 |  |  |  | 5 |  |  |  | 5 |
Selling, general and administrative expense |  |  | 9 |  |  |  | 7 |  |  |  | 37 |  |  |  | 27 |
Total pre-tax stock-based compensation expense |  | $ | 12 |  |  | $ | 11 |  |  | $ | 46 |  |  | $ | 37 |

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