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Equity Incentive Plans (Tables)

3 Months Ended

Mar. 31, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Recorded Stock-based Compensation Expense in the Condensed Consolidated Statement of Operations

The Company recorded stock-based compensation expense in the condensed consolidated statement of operations for the periods presented as follows (in thousands):

			Three Months Ended March 31,
			2025						2024
Cost of revenue			$	2,481					$	2,033
Research and development			14,106						16,888
Selling, general and administrative			14,489						17,208
Total stock-based compensation expense			$	31,076					$	36,129

Schedule of RSU Activity

Restricted stock units (“RSUs”) activity for the three months ended March 31, 2025 is as follows:

			Restricted Stock Units						Weighted-Average Grant Date Fair Value (per share)
Outstanding as of December 31, 2024			6,493,387						$	35.55
Granted			2,016,004						12.11
Vested			(564,701)						47.42
Cancelled			(320,043)						38.48
Outstanding as of March 31, 2025			7,624,647						$	28.35

Schedule of the Company's Stock Option Activity

Stock option activity for the three months ended March 31, 2025 is as follows:

			Stock Options						Weighted-Average Exercise Price
Outstanding as of December 31, 2024			4,594,582						$	45.37
Exercised			(277,212)						1.52
Cancelled and forfeited			(96,812)						52.35
Outstanding as of March 31, 2025			4,220,558						$	48.09

Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions

The Company estimated the fair values of shares granted under the market-based TSR PSUs using a Monte Carlo simulation model with the following assumptions:

Expected volatility			67%
Risk-free interest rate			4.0%
Expected dividend yield			—%

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Tabular disclosure of share-based payment arrangement.

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Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

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