Stockholders' Equity (Tables)

9 Months Ended

Sep. 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 nine months ended September 30, 2025 and 2024 is as follows (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Cost of net revenues	$	1,540	$	3,070	$	4,714	$	7,716
Selling, general and administrative	35,226		34,937		99,577		97,705
Research and development	11,611		11,032		37,291		29,434
Total stock-based compensation	$	48,377	$	49,039	$	141,582	$	134,855

Summary Of Restricted Stock Units

A summary for the nine months ended September 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	677	196.72
Vested and released	(307)	356.81
Forfeited	(99)	280.42
Unvested as of September 30, 2025	1,290	$	258.36	1.5	$	161,601

Summary of MSU Performance Activity

The following table summarizes the MSU performance activity for the nine months ended September 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 released1	(30)	878.35
Forfeited	(27)	638.92
Unvested as of September 30, 2025	263	$	507.88	1.6	$	32,997

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 nine months ended September 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 September 30, 2025	6	$	206.36	1.3	$	789

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:

	Nine Months Ended September 30,
	2025			2024
Expected term (in years)	1.2			1.3
Expected volatility	56.2		%	49.2		%
Risk-free interest rate	4.0		%	4.6		%
Expected dividends	—			—
Weighted average fair value at grant date	$	64.94		$	94.70