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Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2026

Stockholders' Equity Note [Abstract]

Stock-based compensation related to our stock-based awards and employee stock purchase plan for the three months ended March 31, 2026 and 2025 is as follows (in thousands):


	Three Months Ended March 31,
	2026		2025
Cost of net revenues	$	1,620	$	1,538
Selling, general and administrative	28,992		30,866
Research and development	10,312		12,593
Total stock-based compensation	$	40,924	$	44,997

Summary Of Restricted Stock Units

A summary for the three months ended March 31, 2026 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, 2025	1,250	$	256.80
Granted	770	189.99
Vested and released	(430)	287.72
Forfeited	(33)	235.20
Unvested as of March 31, 2026	1,557	$	215.68	1.98	$	266,886

Summary of MSU Performance Activity

The following table summarizes the MSU performance activity for the three months ended March 31, 2026:


	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, 2025	263	$	507.88
Granted	149	378.44
Vested and released1	(59)	629.53
Forfeited	(28)	559.27
Unvested as of March 31, 2026	325	$	421.83	2.14	$	55,691

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

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:


	Three Months Ended March 31,
	2026			2025
Expected term (in years)	1.0			1.1
Expected volatility	44.3		%	40.9		%
Risk-free interest rate	3.6		%	4.2		%
Expected dividends	—			—
Weighted average fair value at grant date	$	55.37		$	70.62