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Stock-Based Compensation (Tables) | 3 Months Ended
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Mar. 31, 2026
Share-Based Payment Arrangement [Abstract] |
Schedule of Share-based Payment Arrangement, Expensed and Capitalized, Amount | Total stock-based compensation recognized, before taxes, are as follows (in thousands):
| Three Months Ended March 31, |
| 2026 |  | 2025 |  |  |
Cost of sales | $ | 2,694 |  |  | $ | 2,187 |  |  |  |
Research and development | 3,241 |  |  | 2,525 |  |  |  |
Sales, general and administrative | 8,583 |  |  | 6,569 |  |  |  |
Stock-based compensation capitalized in inventory | (1,446) |  |  | (1,173) |  |  |  |
Total stock-based compensation | $ | 13,072 |  |  | $ | 10,108 |  |  |  |
Schedule of Stock Option Activity and Related Information | A summary of the Company’s stock option activity and related information are as follows (options in thousands):
| Three Months Ended |  |  |  |  |  |
| March 31, 2026 |  |  |  |
| Number of Shares |  | Weighted-Average Exercise Price |  |  |  |  |  |  |  |
Outstanding, beginning of period | 3,444 |  |  | $ | 17.00 |  |  |  |  |  |  |  |  |
Granted | 293 |  |  | 25.35 |  |  |  |  |  |  |  |  |
Exercised | (56) |  |  | 3.96 |  |  |  |  |  |  |  |  |
Forfeited | — |  |  | — |  |  |  |  |  |  |  |  |
Outstanding, end of period | 3,681 |  |  | 17.87 |  |  |  |  |  |  |  |  |
Vested and expected to vest | 3,681 |  |  | 17.87 |  |  |  |  |  |  |  |  |
Exercisable | 2,774 |  |  | 11.75 |  |  |  |  |  |  |  |  |
Schedule of Fair Value Assumptions | The fair value of the options granted to employees or directors was estimated as of the grant date using the Black-Scholes model assuming the weighted-average assumptions listed in the following table:
| Three Months Ended March 31, |
| 2026 |  | 2025 |  |  |
Expected life (years) | 6.0 |  | 6.0 |  |  |
Expected volatility | 64 | % |  | 58 | % |  |  |
Risk-free interest rate | 3.8 | % |  | 4.0 | % |  |  |
Expected dividend rate | — | % |  | — | % |  |  |
Weighted-average fair value | $ | 15.60 |  |  | $ | 35.00 |  |  |  |
Schedule of RSU and PSU Activity | A summary of the Company’s restricted stock unit, or RSU, activity and related information are as follows (RSUs in thousands):
| Three Months Ended |  |  |  |  |  |
| March 31, 2026 |  |  |  |
| Number of Shares |  | Weighted-Average Fair Value |  |  |  |  |  |  |  |
Unvested, beginning of period | 2,346 |  |  | $ | 48.63 |  |  |  |  |  |  |  |  |
Awarded | 2,195 |  |  | 25.54 |  |  |  |  |  |  |  |  |
Forfeited | (71) |  |  | 43.29 |  |  |  |  |  |  |  |  |
Vested | (484) |  |  | 47.28 |  |  |  |  |  |  |  |  |
Unvested, end of period | 3,986 |  |  | 36.18 |  |  |  |  |  |  |  |  |
A summary of the Company’s PSU activity and related information are as follows (PSUs in thousands):
| Three Months Ended |  |  |  |  |  |
| March 31, 2026 |  |  |  |
| Number of Shares |  | Weighted-Average Fair Value |  |  |  |  |  |  |  |
Unvested, beginning of period | 115 |  |  | $ | 67.62 |  |  |  |  |  |  |  |  |
Awarded | 285 |  |  | 25.35 |  |  |  |  |  |  |  |  |
Forfeited | — |  |  | — |  |  |  |  |  |  |  |  |
Vested | (34) |  |  | 82.14 |  |  |  |  |  |  |  |  |
Performance change | (52) |  |  | 66.36 |  |  |  |  |  |  |  |  |
Unvested, end of period | 314 |  |  | 27.85 |  |  |  |  |  |  |  |  |

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of number, weighted-average exercise price or conversion ratio, aggregate intrinsic value, and weighted-average remaining contractual term for outstanding and exercisable options that are fully vested and expected to vest. Includes, but is not limited to, unvested options for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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