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Share-Based Compensation (Tables) | 9 Months Ended
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Sep. 30, 2024
Share-Based Payment Arrangement [Abstract] |
Disclosure of Share-Based Compensation Arrangements by Share-Based Payment Award | The following table presents share-based compensation expense recorded in the Condensed Consolidated Statements of Operations during the periods presented (in thousands):
| Three months ended September 30, |  | Nine months ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Direct costs | $ | 68 |  |  | $ | 76 |  |  | $ | 191 |  |  | $ | 246 |
Sales and marketing | 1,014 |  |  | 323 |  |  | 2,865 |  |  | 2,285 |
Research, development, and engineering | 769 |  |  | 840 |  |  | 2,930 |  |  | 2,581 |
General, administrative, and other related costs | 8,310 |  |  | 5,535 |  |  | 24,647 |  |  | 19,281 |
Total share-based compensation expense | $ | 10,161 |  |  | $ | 6,774 |  |  | $ | 30,633 |  |  | $ | 24,393 |
Market-Based Restricted Stock Awards, Valuation Assumptions | The assumptions used in determining the weighted-average fair values of PSUs granted during the periods presented are as follows:
| Nine months ended September 30,
| 2024 |  | 2023
Underlying stock price at valuation date | $ | 66.88 |  |  | $ | 77.80 |
Expected volatility | 32.9 | % |  | 32.0 | %
Risk-free interest rate | 4.3 | % |  | 4.1 | %
Restricted Stock and Restricted Stock Unit Award Activity | Restricted stock award (“RSA”) and PSA activity for the nine months ended September 30, 2024 is set forth below:
|  | RSAs |  | PSAs
|  | Number of Shares |  | Weighted Average Grant Date Fair Value |  | Number of Shares |  | Weighted Average Grant Date Fair Value
Nonvested at January 1, 2024 |  | 95,718 |  | $ | 70.17 |  |  | 163,181 |  | $ | 36.27 |
Granted |  | — |  |  | $ | — |  |  | — |  |  | $ | — |
Vested |  | (41,170) |  |  | 71.73 |  |  | — |  |  | — |
Forfeited |  | (154) |  |  | 77.75 |  |  | — |  |  | — |
Nonvested at September 30, 2024 |  | 54,394 |  |  | $ | 68.97 |  |  | 163,181 |  |  | $ | 36.27 |
Restricted stock unit activity for the nine months ended September 30, 2024 is set forth below:
| RSUs |  | PSUs
| Number of Shares |  | Weighted Average Grant Date Fair Value |  | Number of Shares (1) |  | Weighted Average Grant Date Fair Value
Outstanding at January 1, 2024 | 506,425 |  |  | $ | 88.36 |  |  | 270,772 |  |  | $ | 77.09 |
Granted | 394,994 |  |  | 65.24 |  | 308,970 |  |  | 87.17
Vested | (132,003) |  |  | 83.91 |  | — |  |  | — |
Forfeited | (74,647) |  |  | 75.63 |  | (47,015) |  |  | 79.49 |
Outstanding at September 30, 2024 | 694,769 |  |  | $ | 77.40 |  |  | 532,727 |  |  | $ | 82.71 |
(1)Represents the number of shares at 100% achievement.

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- Definition Tabular disclosure of share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
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