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Employee Benefits and Share-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-Based Compensation Expense
The following table sets forth the total share-based compensation expense recognized in the Company’s Condensed Consolidated Statements of Operations:
Three Months Ended March 31,
20262025
(In thousands)
Cost of product and service revenues$1,249 $1,718 
Research and development733 1,220 
Selling, general, and administrative7,516 7,848 
Total share-based compensation expense$9,498 $10,786 
Schedule of Assumptions Used to Value ESPP Shares
The following assumptions were used to value shares under the ESPP:
Three Months Ended March 31,
20262025
Expected life, years
0.5 - 2.0
0.5 - 2.0
Expected volatility, %
47.3% - 58.7%
45.8% - 58.7%
Risk-free interest rate, %
3.6% - 4.7%
4.1% - 5.2%
Dividend yield, % — %— %
Schedule of Share Option Activity
The following table summarizes the stock option activity under the 2009 Plan:
Number of
Shares
Weighted-Average
Exercise Price
Weighted-Average
Remaining Years
Aggregate
Intrinsic Value
(In thousands, except per share data)
Outstanding at December 31, 20251,353 $68.10 3.2$1,787 
Granted— — 
Exercised(2)34.20 
Expired— — 
Forfeited(46)78.34 
Outstanding at March 31, 20261,305 $67.80 2.8$17 
Exercisable at March 31, 20261,305 $67.80 2.8$17 
Vested and expected to vest at March 31, 2026 and thereafter1,305 $67.80 2.8$17 
Schedule of Restricted Stock Unit Activity
The following table summarizes the RSU activity under the 2009 Plan:
Number of
Shares
Weighted-Average
Grant Date Fair Value
Weighted-Average
Remaining Years
Aggregate
Intrinsic Value
(In thousands, except per share data)
Outstanding at December 31, 20251,661 $39.65 1.5$75,261 
Granted 27 45.30 
Vested (155)48.05 
Forfeited(51)39.62 
Outstanding and unvested at March 31, 20261,482 $38.78 1.4$49,454 
Schedule of Performance-Based Restricted Stock Activity
The following table summarizes the PSU activity under the 2009 Plan:
Number of
Shares
Weighted-Average
Grant Date Fair Value
(In thousands, except per share data)
Outstanding at December 31, 2025294 $30.56 
Granted — — 
Vested (54)31.23 
Forfeited— — 
Outstanding and unvested at March 31, 2026240 $30.41 
Schedule of Ordinary Shares Reserved for Future Issuance Under Equity Incentive Plans
The Company had the following ordinary shares reserved for future issuance under its equity incentive plans as of March 31, 2026:
Number of Shares
(In thousands)
Stock options outstanding1,305 
Non-vested restricted stock awards1,776 
Shares authorized for future issuance3,948 
ESPP shares available for future issuance1,802 
Total shares reserved for future issuance8,831