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Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2024

Equity [Abstract]

Stock-Based Compensation Expense

The following table presents stock-based compensation expense in the Company’s consolidated statements of comprehensive income:

		For the Years Ended December 31,
		2024				2023				2022
		(Amounts in thousands)
Cost of product revenue		$	1,948			$	1,933			$	2,525
Research and development			3,227				2,855				2,622
Selling, general and administrative			42,895				20,787				22,169
Total stock-based compensation		$	48,070			$	25,575			$	27,316

Estimated Weighted Average Assumptions

The fair value of stock option awards granted during the years ended December 31, 2024, 2023 and 2022 were calculated using the following estimated assumptions:

		For the Years Ended December 31,
		2024		2023		2022
Expected term (in years)		5.09-6.5		5.14-6.5		5.5-6.5
Expected volatility (range)		46.09-48.50%		44.78-46.58%		41.44-43.96%
Risk-free interest rate		3.69-4.48%		3.56-4.71%		1.86-4.07%
Expected dividend yield		0%		0%		0%

Summary of Option Activity

Information regarding option activity for the year ended December 31, 2024, under the Plans is summarized below:

		Shares				Weighted average exercise price				Weighted- Average Remaining Contractual Term (in Years)				Aggregate Intrinsic Value (in Thousands)
Options outstanding at December 31, 2023			649,130			$	85.97
Granted			80,782				173.16
Exercised			(99,679	)			43.10
Forfeited/expired/cancelled(1)			(34,027	)			196.49
Options outstanding at December 31, 2024			596,206			$	98.64
Options exercisable at December 31, 2024			349,744			$	85.02
Vested and expected to vest at December 31, 2024(2)			590,960			$	98.05				5.37			$	35,180

(1)Includes 13,057 options forfeited pursuant to the 2024 Award Amendment discussed above under “Chief Executive Officer Accounting Modifications.”

(2)Represents the number of vested options as of December 31, 2024 plus the number of unvested options expected to vest as of December 31, 2024, based on the unvested outstanding options at December 31, 2024 adjusted for estimated forfeiture rates of 8% for awards granted to non-executive level employees and 3% for awards granted to executive level employees.

Summary of Restricted Stock Unit Activity

Information regarding stock unit activity, which includes activity for restricted stock units and performance stock units, for the year ended December 31, 2024 under the Plans is summarized below:

		Shares				Weighted Average Grant Date Fair Value
Unvested at December 31, 2023			474,320			$	155.59
Awarded			232,519				177.36
Vested			(148,429	)			148.16
Forfeited/cancelled(1)			(87,798	)			189.71
Unvested at December 31, 2024			470,612			$	162.33
Vested and expected to vest at December 31, 2024(2)			412,863			$	160.77

(1)Includes 13,146 RSUs and 6,573 PSUs forfeited pursuant to the 2024 Award Amendment discussed above under “Chief Executive Officer Accounting Modifications.”

(2)Represents the number of vested stock units as of December 31, 2024, plus the number of unvested stock units expected to vest as of December 31, 2024, based on the unvested outstanding stock units at December 31, 2024 adjusted for estimated forfeiture rates of 8% for awards granted to non-executive level employees and 3% for awards granted to executive level employees.

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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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