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Stock-Benefit Plans and Equity Transactions (Tables)

9 Months Ended

Sep. 30, 2025

Share-Based Payment Arrangement [Abstract]

Summary of Total Stock Based Compensation

The Company has stock-based compensation plans under which it grants stock options, restricted stock units ("RSUs"), and performance restricted stock units ("PRSUs") to officers, directors and third parties. Total stock-based compensation for the periods presented is as follows (in thousands):

		Three Months Ended								Nine Months Ended
		September 30,								September 30,
		2025				2024				2025				2024
Cost of sales		$	414			$	1,439			$	4,010			$	2,476
Research and development			3,307				7,207				11,110				17,137
Sales, general and administrative			12,658				8,816				39,201				32,131
Total		$	16,379			$	17,462			$	54,321			$	51,744

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 options granted and stock purchase rights under the ESPP are as follows:

		Three and Nine Months Ended
		September 30,
		2025				2024
Risk-free interest rate		4.30% - 4.44%				5.40% - 5.41%
Expected dividend yield			—				—
Expected term (years)			0.50				0.50
Volatility		54.74% - 91.91%				54.47% - 58.41%

Summary of All Outstanding Warrants for Common Stock

A summary of all outstanding warrants for common stock as of September 30, 2025, is as follows (in thousands, except for strike price data):

		Number of Warrants				Strike Price			Expiration
2018 Squadron Medical Warrants			845			$	3.15		May 2027
2019 Squadron Medical Warrants			4,839			$	2.17		May 2027
2020 Squadron Medical Warrants			1,076			$	4.88		May 2027
Executive Warrants			1,327			$	5.00		December 2026
Other1			90			$	12.15		Various through June 2026
Total			8,177

(1)Weighted-average strike price.

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of employee stock purchase plans, including, but not limited to: (a) expected term, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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