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EMPLOYEE BENEFIT PLANS (Tables)
12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Restricted Stock Units Outstanding

(in thousands, except per share amounts)

 

 

 

Number
of
Shares

 

Weighted Average
Grant-Date
Fair Value
Per Share

Balance at December 31, 2024

 

 

 

 

3,447

 

$

12.95

Granted

 

 

 

 

3,212

 

 

9.42

Vested and issued

 

 

 

 

(2,354)

 

 

12.68

Forfeited

 

 

 

 

(170)

 

 

12.78

Balance at December 31, 2025

 

 

 

 

4,135

 

$

10.36

Schedule of Allocation of the Share-Based Compensation Expense

The following table sets forth the detailed allocation of the share-based compensation expense which was included in the Company’s Consolidated Statements of Operations:

 

 

Year Ended December 31,

(in thousands)

2025

 

2024

 

2023

Share-based compensation expense included in:

 

 

 

 

 

 

 

 

Cost of revenue

$

963

 

$

506

 

$

963

Research and development expense

 

4,751

 

 

4,609

 

 

3,616

Selling, general and administrative expense

 

15,929

 

 

14,211

 

 

11,841

Total

$

21,643

 

$

19,326

 

$

16,420

 

 

 

 

 

 

 

 

Share-based compensation expense by type of award:

 

 

 

 

 

 

 

 

RSUs

$

17,416

 

$

16,344

 

$

13,308

PRSUs

 

39

 

 

200

 

 

MRSUs

 

3,140

 

 

1,646

 

 

1,800

Employee stock purchase rights under ESPP

 

1,048

 

 

1,136

 

 

1,312

Total

$

21,643

 

$

19,326

 

$

16,420

Schedule of Valuation Assumptions for Stock Options At the date of grant, the Company estimated the fair value of each stock purchase right granted under the ESPP using the following weighted average assumptions:

 

Year Ended December 31,

2025

 

2024

 

2023

Expected term (in years)

 

0.50

 

 

0.50

 

 

0.50

Volatility

 

41%

 

 

50%

 

 

46%

Risk-free interest rate

 

3.9%

 

 

5.3%

 

 

5.2%

Expected dividends

 

0.0%

 

 

0.0%

 

 

0.0%