STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Summary of allocated expense

The following table summarizes stock-based compensation expense incurred for ESPP expense incurred under the 2016 Employee Stock Purchase Plan, stock options, restricted stock awards, performance-based restricted stock units, and Inducement Grants and included in the consolidated statements of operations:

(in thousands)	Years Ended December 31,
	2024		2023		2022
Selling, general, and administrative	$	26,534	$	19,036	$	13,316
Research and development	1,533		910		751
Cost of sales	1,277		706		532
	$	29,344	$	20,652	$	14,599

Valuation assumptions

For 2023, and 2022, the fair value of each option grant was estimated using the Black-Scholes option-pricing model, using the following assumptions:

	Years Ended December 31,
	2023	2022
Expected option life (years)	6.25	5.50 - 6.25
Risk-free interest rate	4.1%	1.7% - 2.8%
Expected stock price volatility	49.0%	48.4% - 50.0%
Dividend yield	—	—

Summary of stock option and restricted stock activity

A summary of stock option activity under the 2022 Plan and Inducement Grants during the years ended December 31, 2024, 2023, and 2022 is presented below:

(in thousands, except per share and remaining term data)	Option Shares	Weighted Average Exercise Price		Fair Value		Weighted Average Remaining Term (years)	Aggregate Intrinsic Value
Outstanding December 31, 2021	988	$	45.56			6.6	$	6,786
Granted	36	34.52		$	16.82
Exercised	(23)	30.03					153
Forfeited	(47)	36.91
Expired	(47)	55.07
Outstanding December 31, 2022	907	$	45.47			5.6	$	3,868
Granted	3	41.84		$	22.12
Exercised	(189)	44.09					2,894
Forfeited	(21)	33.45
Expired	(11)	55.15
Outstanding at December 31, 2023	689	$	46.05			4.9	$	8,370
Exercised	(102)	43.80					2,001
Expired	(3)	50.88
Outstanding at December 31, 2024	584	$	46.42			3.9	$	7,190
Exercisable at December 31, 2024	551	$	47.15			3.8	$	6,500

Restricted stock activity

A summary of RSA activity under the Plan during the years ended December 31, 2024, 2023, and 2022 is presented below:

(in thousands, except per share and remaining term data)	Shares	Weighted Average Grant Date Fair Value		Weighted Average Remaining Term (years)
Unvested at December 31, 2021	707	$	36.52	2.8
Granted	748	32.76
Vested	(245)	36.99
Forfeited	(69)	38.08
Unvested at December 31, 2022	1,141	$	33.86	2.6
Granted	674	43.30
Vested	(383)	34.59
Forfeited	(81)	38.10
Unvested at December 31, 2023	1,351	$	38.11	2.4
Granted	708	57.22
Vested	(485)	37.99
Forfeited	(119)	45.05
Unvested at December 31, 2024	1,455	$	46.89	2.3

Performance shares activity

A summary of PSU activity under the Plan during the years ended December 31, 2024 and 2023 is presented below:

(in thousands, except per share and remaining term data)	Shares	Weighted Average Grant Date Fair Value		Weighted Average Remaining Term (years)
Unvested at December 31, 2022	—	$	—	—
Granted	85	41.84
Vested	—	—
Forfeited	(1)	41.84
Unvested at December 31, 2023	84	41.84		2.0
Granted	74	56.10
Vested	—	—
Forfeited	(8)	48.06
Unvested at December 31, 2024	150	$	48.52	1.6