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Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2026

Share-Based Payment Arrangement [Abstract]

Summary of Stock-Based Compensation Expense

Stock-based compensation expense was allocated in the condensed consolidated statements of comprehensive income as follows:

			Three Months Ended June 30,												Six Months Ended June 30,
(in thousands)			2026						2025						2026						2025
Cost of revenues			$	3,248					$	3,328					$	6,404					$	6,439
Operating expenses
Sales and marketing			3,999						3,357						8,259						5,784
Research and development			2,406						2,135						4,671						4,152
General and administrative			9,043						6,178						17,435						12,490
			$	18,696					$	14,998					$	36,769					$	28,865

Stock-based compensation expense by grant type or plan was as follows:

			Three Months Ended June 30,												Six Months Ended June 30,
(in thousands)			2026						2025						2026						2025
Stock options			$	535					$	472					$	1,026					$	1,021
PSUs			4,128						3,127						8,662						6,134
RSUs & DSUs			12,500						9,837						23,926						18,470
RSAs			—						—						—						113
ESPP			716						783						1,541						1,619
401(k) stock match			817						779						1,614						1,508
			$	18,696					$	14,998					$	36,769					$	28,865

Summary of Stock Option Activity

Our stock option activity was as follows:

			Six Months Ended June 30, 2026
			Options (#)						Weighted Average Exercise Price ($/share)
Outstanding, beginning of period			261,403						$	121.47
Granted			132,688						57.93
Exercised			(20,656)						53.40
Forfeited			(8,340)						118.31
Outstanding, end of period			365,095						$	102.30

Summary of Weighted Average Assumptions Used in Black-Scholes Option Pricing Model

This was estimated on the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions:

Life (in years)			4.0
Volatility			39.9		%
Dividend yield			—
Risk-free interest rate			3.6		%

Summary of Activity for PSUs, RSUs, RSAs, and DSUs

Activity for our PSUs, RSUs, RSAs, and DSUs in aggregate was as follows:

			Six Months Ended June 30, 2026
			#						Weighted Average Grant Date Fair Value ($/share)
Outstanding, beginning of period			1,006,417						$	150.69
Granted			1,038,439						63.18
Vested and common stock issued			(238,465)						136.77
Forfeited			(121,171)						215.77
Outstanding, end of period			1,685,220						$	94.05

Summary of ESPP Activity

Our ESPP activity was as follows:

			Three Months Ended June 30,												Six Months Ended June 30,
(in thousands, except shares)			2026						2025						2026						2025
Amounts for shares purchased			$	3,801					$	5,015					$	4,321					$	5,426
Shares purchased			78,293						43,349						85,088						45,979

Summary of Fair Value Assumptions for ESPP

The fair value was estimated based on the market price of our common stock at the beginning of the offering period using the following assumptions:

Life (in years)			0.5
Volatility			55.7		%
Dividend yield			—
Risk-free interest rate			3.7		%

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