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Stock Benefit Plans and Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Summary of Compensation Cost for Stock-Based Compensation Arrangements

The compensation cost that has been included in the Company’s consolidated statements of operations for all stock-based compensation arrangements is detailed as follows (in thousands):

		Year Ended December 31,
		2024				2023				2022
Cost of sales		$	4,961			$	25,082			$	2,597
Research and development			27,030				18,741				5,016
Sales, general and administrative			41,286				37,421				32,943
Total		$	73,277			$	81,244			$	40,556

Summary of Stock Option Activity

A summary of the Company’s stock option activity under the equity plans and related information is as follows (in thousands, except as indicated and per share data):

		Shares				Weighted average exercise price				Weighted average remaining contractual term (in years)				Aggregate intrinsic value
Outstanding at December 31, 2023			2,468			$	3.20
Exercised			(283	)			2.52
Forfeited			(27	)			14.74
Outstanding at December 31, 2024			2,158			$	3.15				3.00			$	13,298
Options vested and expected to vest at    December 31, 2024			2,158			$	3.15				3.00			$	13,298
Options exercisable at    December 31, 2024			2,155			$	3.13				2.99			$	13,296

Summary of Information about Restricted Stock Awards, Restricted Stock Units and Performance-Based Restricted Units Activity

The following table summarizes information about the restricted stock units and performance-based restricted units activity (in thousands, except as indicated and per share data):

		Shares				Weighted average grant date fair value				Weighted average remaining recognition period (in years)
Unvested at December 31, 2023			7,713			$	13.56
Awarded			5,189				12.56
Vested			(4,616	)			7.10
Forfeited			(860	)			13.78
Unvested at December 31, 2024			7,426			$	12.92				1.06

Schedule of Assumptions used to Estimate Fair Value of Stock Options Granted and Stock Purchase Rights under ESPP

The Company estimates the fair value of shares issued to employees under the ESPP using the Black-Scholes option-pricing model. The assumptions used to estimate the fair value of stock purchase rights under the ESPP are as follows:

		Year Ended December 31,
		2024				2023				2022
Risk-free interest rate		4.44% - 5.41%				4.54% - 5.41%				0.07% - 4.54%
Expected dividend yield			—				—				—
Expected term (years)			0.50			0.41 - 0.60				0.50 - 0.60
Volatility		54.47% - 91.91%				40.87% - 62.77%				50.29% - 64.53%

Summary of Common Stock Reserved for Future Issuance

Common stock reserved for future issuance consists of the following (in thousands):

		December 31, 2024
Stock options outstanding			2,158
Unvested restricted stock units			7,426
Employee stock purchase plan			714
Senior convertible notes			17,246
Warrants outstanding			9,316
Authorized for future grant under the Distributor and    Development Services plans			424
Authorized for future grant under the Management    Objective Strategic Incentive Plan			1
Authorized for future grant under the Company    Equity plans			4,528
			41,813

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Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

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