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Employee Benefit Plans (Tables)
6 Months Ended
Jun. 30, 2024
Employee Benefit and Share-Based Payment Arrangement, Noncash Expense [Abstract]  
Schedule of Stock Option Activity

Stock option activity was as follows:

 

(In thousands, except per share amounts)

 

Number of
Shares

 

 

Weighted Average Exercise Price Per Share

 

 

Outstanding as of December 31, 2023

 

 

866

 

 

$

30.70

 

 

Granted

 

 

 

 

$

 

 

Exercised

 

 

 

 

$

 

 

Cancelled

 

 

 

 

$

 

 

Expired

 

 

(19

)

 

$

19.41

 

 

Outstanding as of June 30, 2024

 

 

847

 

 

$

30.96

 

 

 

Schedule of Time-Based RSU Activity

Time-based RSU activity was as follows:

 

(In thousands, except per share amounts)

 

Number
of Shares

 

 

Weighted Average Grant Date Fair Value Per Share

 

Outstanding as of December 31, 2023

 

 

1,567

 

 

$

22.83

 

Granted

 

 

1,463

 

 

$

14.34

 

Vested

 

 

(658

)

 

$

22.50

 

Cancelled

 

 

(126

)

 

$

20.86

 

Outstanding as of June 30, 2024

 

 

2,246

 

 

$

17.35

 

Schedule of PSU Activity

PSU activity was as follows:

(In thousands, except per share amounts)

 

Number
of Shares

 

 

Weighted Average Grant Date Fair Value Per Share

 

Outstanding as of December 31, 2023

 

 

417

 

 

$

24.76

 

Granted

 

 

575

 

 

$

20.25

 

Vested

 

 

 

 

$

 

Cancelled

 

 

(332

)

 

$

26.39

 

Outstanding as of June 30, 2024

 

 

660

 

 

$

20.01

 

Schedule of Total Stock-Based Compensation Expense Resulting from Stock Options, RSUs, Time-Based and Performance-Based and the ESPP

Valuation and Expense Information

 

The following table sets forth the stock-based compensation expense resulting from stock options, RSUs (time-based and performance-based) and the ESPP included in the Company’s unaudited condensed consolidated statements of operations:

 

 

 

Three Months Ended

 

 

Six Months Ended

 

(In thousands)

 

June 30, 2024

 

 

July 2, 2023

 

 

June 30, 2024

 

 

July 2, 2023

 

Cost of revenue

 

$

413

 

 

$

342

 

 

$

778

 

 

$

693

 

Research and development

 

 

844

 

 

 

1,144

 

 

 

1,542

 

 

 

2,209

 

Sales and marketing

 

 

1,235

 

 

 

1,397

 

 

 

2,472

 

 

 

2,828

 

General and administrative

 

 

3,396

 

 

 

1,804

 

 

 

5,640

 

 

 

3,622

 

Total

 

$

5,888

 

 

$

4,687

 

 

$

10,432

 

 

$

9,352