Stock Benefit Plans and Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Summary of Compensation Cost for Stock-Based Compensation Arrangements

The compensation cost that has been included in the Company’s consolidated statements of operations for all stock-based compensation arrangements is detailed as follows (in thousands):

	Year Ended December 31,
	2023		2022		2021
Cost of sales	$	25,082	$	2,597	$	737
Research and development		18,741		5,016		4,056
Sales, general and administrative		37,421		32,943		31,657
Total	$	81,244	$	40,556	$	36,450

Summary of Stock Option Activity

A summary of the Company’s stock option activity under the equity plans and related information is as follows (in thousands, except as indicated and per share data):

	Shares			Weighted average exercise price		Weighted average remaining contractual term (in years)		Aggregate intrinsic value
Outstanding at December 31, 2022		2,916		$	3.38
Exercised		(399	)		2.40
Forfeited		(48	)		20.46
Outstanding at December 31, 2023		2,469		$	3.20		4.22	$	29,446
Options vested and expected to vest at    December 31, 2023		2,469		$	3.20		4.22	$	29,466
Options exercisable at    December 31, 2023		2,444		$	3.11		4.19	$	29,371

Summary of Weighted Average Assumptions Used to Compute Stock-Based Compensation Costs for Stock Options Granted

The weighted average assumptions used to compute the stock-based compensation costs for the stock options granted during the year ended December 31, 2021 are as follows:

	Year Ended December 31,
	2021
Risk-free interest rate		0.84	%
Expected dividend yield		—
Weighted average expected life (years)		6.07
Volatility		87.38	%

Summary of Information about Restricted Stock Awards, Restricted Stock Units and Performance-Based Restricted Units Activity

The following table summarizes information about the restricted stock units and performance-based restricted units activity (in thousands, except as indicated and per share data):

	Shares			Weighted average grant date fair value		Weighted average remaining recognition period (in years)
Unvested at December 31, 2022		8,533		$	6.63
Awarded		6,162			15.39
Vested		(6,724	)		10.72
Forfeited		(258	)		11.30
Unvested at December 31, 2023		7,713		$	13.56		1.01

Schedule of Assumptions used to Estimate Fair Value of Stock Options Granted and Stock Purchase Rights under ESPP

The Company estimates the fair value of shares issued to employees under the ESPP using the Black-Scholes option-pricing model. The assumptions used to estimate the fair value of stock purchase rights under the ESPP are as follows:

	Year Ended December 31,
	2023		2022		2021
Risk-free interest rate	4.54% - 5.41%		0.07% - 4.54%		0.04% - 0.12%
Expected dividend yield		—		—		—
Expected term (years)	0.41 - 0.60		0.50 - 0.60			0.50
Volatility	40.87% - 62.77%		50.29% - 64.53%		49.98% - 78.37%

Summary of Common Stock Reserved for Future Issuance

Common stock reserved for future issuance consists of the following (in thousands):

	December 31, 2023
Stock options outstanding		2,469
Unvested restricted stock units		7,713
Employee stock purchase plan		1,243
Senior convertible notes		17,246
Warrants outstanding		8,219
Authorized for future grant under the Distributor and    Development Services plans		560
Authorized for future grant under the Management    Objective Strategic Incentive Plan		11
Authorized for future grant under the Company    Equity plans		7,665
		45,126