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Stockholders' Equity (Tables)
3 Months Ended
Mar. 31, 2026
Equity [Abstract]  
Schedule of Equity Compensation Goals These three independent vesting conditions are described in the following table:
Operational Goals (1)
(in millions)
Stock Price
Goal
Minimum Service Requirement
Tranche (2)
Revenue
Adj. EBITDA
Employee XSPCEO Performance AwardGoal Expiration
1$1,834 or$382 and$247.40 andJune 2025December 2028December 31, 2026
22,293 or497 and309.25 andDecember 2025December 2028December 31, 2027
32,866 or611 and386.56 andJune 2026December 2029December 31, 2028
43,583 or801 and483.20 andDecember 2026December 2029December 31, 2029
54,479 or1,044 and604.00 andJune 2027December 2030December 31, 2030
65,599 or1,356 and755.00 andDecember 2027December 2030December 31, 2031
76,999 or1,706 and943.75 andJune 2028December 2030December 31, 2032
88,749 or2,144 and1,179.69 andDecember 2029December 31, 2033
910,936 or2,690 and1,474.61 andJune 2031December 31, 2034

(1)    Operational goals are measured, as of any date, for the previous four consecutive fiscal quarters, beginning with the Company's first full fiscal quarter ending after the fiscal quarter in which the grant date occurred.
(2)    Tranches 1 and 2 vested in June 2025 and December 2025 respectively. As of March 31, 2026, for certain grantees, the shares acquired upon vesting of Tranche 2 remain subject to a holding period requirement under the plan, which will expire on the earlier of (i) December 31, 2030 and (ii) the date on which the subsequent tranche vests.
Schedule of Reported Share-based Compensation
The following table summarizes the composition of stock-based compensation expense for the three months ended March 31, 2026 and 2025 (in thousands):
Three Months Ended March 31,
20262025
Cost of product and service sales$10,709 $12,887 
Selling, general and administrative expenses66,519 71,347 
Research and development expenses57,473 56,005 
Total stock-based compensation expense (1)
$134,701 $140,239 
(1)For the three months ended March 31, 2026, stock-based compensation expense included $1.0 million in non-recurring severance costs. Total non-recurring severance costs for the three months ended March 31, 2026 of $2.0 million also include $1.0 million of severance payments and employee benefits. The majority of these costs were recorded in selling, general and administrative expenses.