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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-Based Compensation Expense Recognized
Stock-based compensation expense recognized in the consolidated statements of operations is summarized below:
Year Ended December 31,
(in thousands)202420232022
Cost of goods sold$12,670 $9,126 $4,422 
Sales and marketing13,899 9,500 6,185 
General and administrative37,945 24,807 14,876 
Research and development11,879 7,074 3,779 
Total stock-based compensation expense$76,393 $50,507 $29,262 
Schedule of Option Activity
A summary of option activity for 2024 is presented below:
Total
Stock
Options		Weighted-
Average
Exercise
Price		Weighted-
Average
Remaining
Contractual
Term
(Years)		Aggregate
Intrinsic
Value
($)
Balance at January 1, 2024957,172 $48.13 6.718,283,464 
Options granted544,175 $69.99 
Options exercised(209,657)$24.52 
Options cancelled and forfeited(74,944)$65.34 
Outstanding at December 31, 20241,216,746 $60.92 7.635,707,375 
Vested and expected to vest at December 31, 20241,180,842 $55.69 6.935,019,006 
Exercisable at December 31, 2024460,419 $47.00 5.619,865,507 
Schedule of Valuation Model
The table below summarizes the key weighted-average assumptions used in valuing stock options granted:
Year Ended December 31,
202420232022
Expected volatility55.4 %56.1 %62.1 %
Risk-free interest rate4.2 %4.0 %2.0 %
Expected life (in years)6.06.06.0
Expected dividend yield———
Schedule of Restricted Stock Awards Activity
A summary of restricted stock awards and restricted stock units (“RSUs”) activity for 2024 is presented below:
SharesWeighted-
Average Grant
Date Fair Value Per Share
Nonvested balance at January 1, 20241,210,259 $58.71 
Granted842,991 $70.56 
Vested(602,145)$49.78 
Forfeited(179,255)$65.75 
Nonvested balance at December 31, 20241,271,850 $69.81 
A summary of TSR award activity for 2024 is presented below:
SharesWeighted-
Average Grant
Date Fair Value Per Share
Nonvested balance at January 1, 2024630,054 $78.91 
Granted586,292 $105.87 
Vested(514,192)$31.25 
Forfeited(17,470)$117.27 
Nonvested balance at December 31, 2024684,684 $109.38 
Schedule of RSU Valuation Model The fair value of these awards are based on a Monte Carlo simulation valuation model with the following assumptions:
Year Ended December 31,
202420232022
Expected volatility57.4 %52.8 %56.6 %
Risk-free interest rate4.3 %4.6 %1.7 %
Expected life (in years)2.82.82.8
Expected dividend yield———