Stockholders' Equity and Stock-Based Compensation

6 Months Ended

Jun. 30, 2025

Share-Based Payment Arrangement [Abstract]

Stockholders' Equity and Stock-Based Compensation

14. Stockholders' Equity and Stock-Based Compensation

In November 2024, the Board of Directors (“Board”) authorized a program to repurchase up to $250 million of the Company's common stock during the twelve months following the authorization (the “2024 Program”). During the three months ended June 30, 2025, the Company repurchased 1.3 million shares for approximately $100.0 million. As of June 30, 2025, the Company had repurchased a total of approximately 2.4 million shares under the 2024 Program for approximately $200.0 million.

The following table presents stock-based compensation expense recognized in the Company’s accompanying condensed consolidated statements of operations:

	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2025		2024		2025		2024
Cost of goods sold	$	2,961	$	2,870	$	6,236	$	5,502
Sales and marketing		4,512		3,076		8,043		5,868
General and administrative		11,814		9,768		23,184		17,531
Research and development		3,034		2,765		6,056		4,962
Total stock-based compensation expense	$	22,321	$	18,479	$	43,519	$	33,863