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Stockholders' Equity (Tables)
12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Stock-Based Compensation Expense

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

 

 

Year Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

 

 

(Amounts in thousands)

 

Cost of goods sold

 

$

2,682

 

 

$

1,948

 

 

$

1,933

 

Research and development

 

 

5,015

 

 

 

3,227

 

 

 

2,855

 

Selling, general and administrative(1)

 

 

24,908

 

 

 

42,895

 

 

 

20,787

 

Total stock-based compensation

 

$

32,605

 

 

$

48,070

 

 

$

25,575

 

(1) Selling, general and administrative stock-based compensation for the year ended December 31, 2024, includes $22.4 million of expense related to the Equity Modification discussed above.

Summary of Option Activity

Information regarding option activity for the year ended December 31, 2025, 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, 2024

 

 

596,206

 

 

$

98.64

 

 

 

 

 

 

 

Granted

 

 

63,420

 

 

 

141.38

 

 

 

 

 

 

 

Exercised

 

 

(78,074

)

 

 

40.68

 

 

 

 

 

$

8,225

 

Forfeited/expired/cancelled

 

 

(18,279

)

 

 

200.56

 

 

 

 

 

 

 

Options outstanding at December 31, 2025

 

 

563,273

 

 

$

108.18

 

 

 

5.17

 

 

$

34,877

 

Options exercisable at December 31, 2025

 

 

363,976

 

 

$

103.55

 

 

 

4.42

 

 

$

24,680

 

Vested and expected to vest at December 31, 2025(1)

 

 

558,404

 

 

$

107.80

 

 

 

5.14

 

 

$

34,802

 

(1) Represents the number of vested options as of December 31, 2025 plus the number of unvested options expected to vest as of December 31, 2025, based on the unvested outstanding options at December 31, 2025 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, 2025 under the Plans is summarized below:

 

 

Shares

 

 

Weighted Average
Grant Date
Fair Value

 

Unvested at December 31, 2024

 

 

470,612

 

 

$

162.33

 

Awarded

 

 

294,537

 

 

 

144.73

 

Vested

 

 

(156,115

)

 

 

164.37

 

Forfeited/cancelled

 

 

(53,987

)

 

 

172.86

 

Unvested at December 31, 2025

 

 

555,047

 

 

$

152.80

 

Vested and expected to vest at December 31, 2025(1)

 

 

500,406

 

 

$

152.00

 

(1) Represents the number of vested stock units as of December 31, 2025, plus the number of unvested stock units expected to vest as of December 31, 2025 based on the unvested outstanding stock units at December 31, 2025 adjusted for estimated forfeiture rates of 8% for awards granted to non-executive level employees and 3% for awards granted to executive level employees.