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Stock Compensation (Tables)

12 Months Ended

Dec. 31, 2024

Share-based Payment Arrangement [Abstract]

Stock-Based Compensation Expense

For the years ended December 31, 2024, 2023 and 2022, the Company recorded stock-based compensation expense as follows (in thousands):

		2024				2023				2022
Research and development		$	1,779			$	1,481			$	1,729
Selling, general and administrative			20,472				12,769				6,178
Total stock-based compensation		$	22,251			$	14,250			$	7,907

Stock Option Activity Under the Company's Plans

Stock option activity under the Company’s Plans for the year ended December 31, 2024 is summarized as follows:

		Number of Options				Weighted Average Exercise Price				Weighted Average Remaining Contractual Term (in years)				Aggregate Intrinsic Value (in thousands)
Outstanding at beginning of year			14,177,488			$	7.73
Granted			2,476,946				18.95
Exercised or released			(3,429,184	)			3.94
Forfeited or cancelled			(137,337	)			15.29
Expired			(11,124	)			16.47
Outstanding at end of year			13,076,789			$	10.76				4.26			$	132,570
Exercisable at end of year			7,353,893			$	6.53				2.93			$	105,449

Schedule of Other Information Pertaining to Stock Option Activity

Other information pertaining to stock option activity during the years ended December 31, 2024, 2023 and 2022 was as follows:

		2024				2023				2022
Weighted–average fair value of granted stock options		$	9.53			$	8.66			$	8.52
Total fair value of vested stock options (in thousands)		$	12,860			$	8,278			$	6,096
Total intrinsic value of exercised stock options    (in thousands)		$	53,230			$	22,265			$	31,881

Summary of Stock Options Awards Based on Certain Assumptions

Assumptions used during the years ended December 31, 2024, 2023 and 2022 were as follows:

		2024		2023		2022
Risk free interest rate		3.70% to 4.70%		3.55% to 4.92%		1.27% to 4.07%
Expected term		4.5 to 5.0 years		4.5 to 5.2 years		4.5 years
Expected volatility		54.1% to 61.5%		68.0% to 71.0%		68.4% to 69.5%
Expected dividend yield		—%		—%		—%
Expected forfeiture rate		—%		—%		—%

Summary of Restricted Stock Unit Activity

Restricted stock unit activity for the year ended December 31, 2024 was as follows:

		Number of Restricted Stock Units				Weighted Average Grant Date Fair Value
Nonvested balance at beginning of year			854,459			$	12.48
Granted			228,029				20.45
Vested			(364,861	)			11.19
Forfeited			(8,667	)			18.59
Nonvested balance at end of year			708,960			$	15.63

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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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Tabular disclosure of the total intrinsic value of options exercised (or share units converted), share-based liabilities paid, and the total fair value of shares vested during the year.

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