Stock-Based Compensation

6 Months Ended

Jun. 30, 2025

Stock-Based Compensation

Stock-Based Compensation

Note 11.  Stock-Based Compensation

The following table summarizes the allocation of stock-based compensation related to stock options and RSUs in the accompanying condensed consolidated statements of operations (in thousands):

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2025		2024		2025		2024
Cost of sales	$	1,245	$	838	$	2,217	$	1,564
Selling, general and administrative		12,549		7,013		20,983		14,285
Research and development		4,225		3,462		7,805		6,629
Total	$	18,019	$	11,313	$	31,005	$	22,478

At June 30, 2025, the total unamortized stock-based compensation expense was approximately $104.2 million, of which $12.2 million and $92.0 million was attributable to stock options and RSUs, respectively. The Company currently issues its annual stock option and RSU grants to eligible employees during the second quarter of each year.

Of the $12.2 million related to stock options, $12.1 million is attributable to time-based stock options and will be recognized over the time-based stock options’ remaining vesting terms of approximately 4.0 years (2.5 years on a weighted average basis). The remaining $0.1 million is attributable to performance-based options and will be recognized over the performance-based stock options’ remaining vesting terms of less than one year (0.6 years on a weighted average basis).

Of the $92.0 million related to RSUs, $90.2 million is attributable to time-based RSUs and will be recognized over the RSUs’ vesting terms of approximately 4.0 years (2.9 years on a weighted-average basis). The remaining $1.8 million is attributable to performance-based RSUs and will be recognized over the performance-based RSUs’ remaining vesting terms of less than two years (0.9 years on a weighted average basis).

The total stock-based compensation cost capitalized in inventory was not material for the three and six months ended June 30, 2025 and June 30, 2024.