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Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 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

 

 

Weighted
Average
Remaining
Contractual
Term

 

 

Aggregate
Intrinsic
Value

 

Outstanding as of December 31, 2023

 

 

866

 

 

$

30.70

 

 

 

 

 

 

 

Exercised

 

 

(163

)

 

$

24.57

 

 

 

 

 

 

 

Expired

 

 

(228

)

 

$

31.15

 

 

 

 

 

 

 

Outstanding as of December 31, 2024

 

 

475

 

 

$

32.60

 

 

 

1.42

 

 

$

367,881

 

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

Vested and expected to vest

 

 

475

 

 

$

32.60

 

 

 

1.42

 

 

$

367,881

 

Exercisable Options

 

 

475

 

 

$

32.60

 

 

 

1.42

 

 

$

367,881

 

Schedule of Ranges of Outstanding And Exercisable Stock Options

The following table summarizes significant ranges of outstanding and exercisable stock options as of December 31, 2024:

 

 

 

Options Outstanding

 

 

Options Exercisable

 

Range of Exercise Prices

 

Shares
Outstanding

 

 

Weighted-
Average
Remaining
Contractual
Life

 

 

Weighted-
Average
Exercise
Price Per
Share

 

 

Shares
Exercisable

 

 

Weighted-
Average
Exercise
Price Per
Share

 

 

 

(In thousands)

 

 

(In years)

 

 

(In dollars)

 

 

(In thousands)

 

 

(In dollars)

 

 $23.48 - $23.48

 

 

3

 

 

 

1.23

 

 

$

23.48

 

 

 

3

 

 

$

23.48

 

 $25.37 - $25.37

 

 

5

 

 

 

2.42

 

 

$

25.37

 

 

 

5

 

 

$

25.37

 

 $26.61 - $26.61

 

 

271

 

 

 

1.42

 

 

$

26.61

 

 

 

271

 

 

$

26.61

 

 $38.32 - $38.32

 

 

25

 

 

 

3.59

 

 

$

38.32

 

 

 

25

 

 

$

38.32

 

 $41.67 - $41.67

 

 

171

 

 

 

1.07

 

 

$

41.67

 

 

 

171

 

 

$

41.67

 

 $23.48 - $41.67

 

 

475

 

 

 

1.42

 

 

$

32.60

 

 

 

475

 

 

$

32.60

 

Schedule of RSU Activity

RSU activity was as follows:

 

(In thousands, except per share amounts)

 

Number
of Shares

 

 

Weighted Average Grant Date Fair Value Per Share

 

 

Weighted
Average
Remaining
Contractual
Term

 

 

Average
Intrinsic
Value

 

Outstanding as of December 31, 2023

 

 

1,567

 

 

$

22.83

 

 

 

 

 

 

 

Granted

 

 

1,939

 

 

$

15.91

 

 

 

 

 

 

 

Vested

 

 

(739

)

 

$

23.50

 

 

 

 

 

 

 

Cancelled

 

 

(217

)

 

$

19.66

 

 

 

 

 

 

 

Outstanding as of December 31, 2024

 

 

2,550

 

 

$

17.64

 

 

 

1.20

 

 

$

71,060

 

Schedule of Performance Shares Activity 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, 2021

 

 

293

 

 

$

33.07

 

Granted

 

 

145

 

 

$

22.37

 

Vested

 

 

 

 

$

 

Cancelled

 

 

(8

)

 

$

27.17

 

Outstanding as of December 31, 2022

 

 

430

 

 

$

29.38

 

Granted

 

 

145

 

 

$

14.44

 

Vested

 

 

 

 

$

 

Cancelled

 

 

(158

)

 

$

27.85

 

Outstanding as of December 31, 2023

 

 

417

 

 

$

24.76

 

Granted

 

 

630

 

 

$

21.00

 

Vested

 

 

 

 

$

 

Cancelled

 

 

(392

)

 

$

25.12

 

Outstanding as of December 31, 2024

 

 

655

 

 

$

20.93

 

Schedule of Weighted Average Assumptions The following table sets forth the weighted-average assumptions used to estimate the fair value of purchase rights granted under the ESPP:

 

 

 

Year Ended December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

 

 

 

 

Expected life (in years)

 

 

0.5

 

 

 

0.5

 

 

 

0.5

 

Risk-free interest rate

 

 

5.01

%

 

 

5.19

%

 

 

2.25

%

Expected volatility

 

 

48.1

%

 

 

35.8

%

 

 

39.6

%

Dividend yield

 

 

 

 

 

 

 

 

 

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

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

 

 

 

Year Ended December 31,

 

(In thousands)

 

2024

 

 

2023

 

 

2022

 

Cost of revenue

 

$

1,613

 

 

$

1,405

 

 

$

1,353

 

Research and development

 

 

3,297

 

 

 

3,935

 

 

 

4,177

 

Sales and marketing

 

 

6,182

 

 

 

5,336

 

 

 

5,603

 

General and administrative

 

 

11,586

 

 

 

7,262

 

 

 

6,601

 

Total

 

$

22,678

 

 

$

17,938

 

 

$

17,734