Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2025

Stockholders' Equity Note [Abstract]

Stock-based Compensation Expense

Stock-based compensation related to our stock-based awards and employee stock purchase plan for the three and six months ended June 30, 2025 and 2024 is as follows (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Cost of net revenues	$	1,636	$	2,582	$	3,174	$	4,646
Selling, general and administrative	33,485		34,274		64,351		62,768
Research and development	13,087		10,172		25,680		18,402
Total stock-based compensation	$	48,208	$	47,028	$	93,205	$	85,816

Summary Of Restricted Stock Units

A summary for the six months ended June 30, 2025 is as follows:

	Number of Shares Underlying RSUs (in thousands)	Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
Unvested as of December 31, 2024	1,019	$	331.10
Granted	670	197.17
Vested and released	(301)	358.16
Forfeited	(60)	292.10
Unvested as of June 30, 2025	1,328	$	259.13	1.7	$	251,343

Summary of MSU Performance Activity

The following table summarizes the MSU performance activity for the six months ended June 30, 2025: 

	Number of Shares Underlying MSUs (in thousands)	Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
Unvested as of December 31, 2024	193	$	679.14
Granted	127	362.98
Vested and released 1	(26)	915.22
Forfeited	(10)	915.22
Unvested as of June 30, 2025	284	$	506.66	1.8	$	53,699

1    Includes MSUs vested during the period below 100% of the original grant as actual shares released is based on our stock performance relative to a market index over the vesting period.

Summary of PSU Performance Activity

The following table summarizes the PSU performance activity for the six months ended June 30, 2025:

	Number of Shares Underlying PSUs (in thousands)	Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
Unvested as of December 31, 2024	11	$	204.33
Granted	—	—
Vested and released	(5)	201.63
Forfeited	—	—
Unvested as of June 30, 2025	6	$	206.36	1.5	$	1,193

Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions

The fair value of the option component of the 2010 Purchase Plan shares was estimated at the grant date using the Black-Scholes option pricing model with the following weighted average assumptions:

	Six Months Ended June 30,
	2025			2024
Expected term (in years)	1.1			0.9
Expected volatility	40.9		%	56.0		%
Risk-free interest rate	4.2		%	4.8		%
Expected dividends	—			—
Weighted average fair value at grant date	$	70.62		$	100.10