Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2023

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of stock option activity

	Outstanding Options and RSUs
					Weighted-
			Weighted-		Average
	Shares	Number of	Average		Remaining	Aggregate
	Available for	Shares	Exercise		Contractual	Intrinsic
(in thousands, except for contractual life and exercise price)	Grant	Outstanding	Price		Life	Value
					(in years)
Balance at December 31, 2022	3,263	5,300	$	21.11	4.84	$	131,385
Additional shares authorized	3,500	—
Options granted	(497)	497	$	44.29
Options exercised	—	(265)	$	13.26
RSUs granted	(5,728)	—
RSUs forfeited/cancelled	760	—
Balance at September 30, 2023	1,298	5,532	$	23.57	4.61	$	142,513
Exercisable at September 30, 2023		4,525	$	13.81	3.74	$	141,977
Vested and expected to vest at September 30, 2023		5,466	$	23.05	4.56	$	142,478

Restricted stock units

		Weighted-
		Average
		Grant Date
(in thousands, except for grant date fair value)	Shares	Fair Value
Balance at December 31, 2022	6,836	$	57.12
Granted	5,728	$	44.99
Vested	(2,364)	$	57.01
Cancelled/forfeited	(760)	$	50.01
Balance at September 30, 2023	9,440	$	50.28

Summary of stock-based compensation expenses

The following tables present the effect of employee and non-employee stock-based compensation expense on selected statements of operations line items for the three and nine months ended September 30, 2023 and 2022.

	Three months ended September 30,
	2023						2022
	Employee		Non-Employee		Total		Employee		Non-Employee		Total
	(in thousands)
Cost of revenues	$	3,284	$	15	$	3,299	$	2,124	$	—	$	2,124
Research and development		18,278		650		18,928		12,972		497		13,469
Selling, general and administrative		35,233		271		35,504		24,524		221		24,745
Total	$	56,795	$	936	$	57,731	$	39,620	$	718	$	40,338

	Nine months ended September 30,
	2023						2022
	Employee		Non-Employee		Total		Employee		Non-Employee		Total
	(in thousands)
Cost of revenues	$	8,669	$	24	$	8,693	$	5,903	$	—	$	5,903
Research and development		47,316		1,965		49,281		33,911		1,432		35,343
Selling, general and administrative		83,822		1,100		84,922		74,700		452		75,152
Total	$	139,807	$	3,089	$	142,896	$	114,514	$	1,884	$	116,398

Employee Stock Option [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of assumptions used in valuation of fair value

	Three months ended September 30,						Nine months ended September 30,
	2023			2022			2023					2022
Expected term (years)		6.03			6.05		5.20		—	6.03		5.12		—	10.00
Expected volatility		68.23	%		61.63	%	68.23	%	—	70.07	%	55.91	%	—	62.30	%
Expected dividend rate		—	%		—	%				—	%				—	%
Risk-free interest rate		4.18	%		3.15	%	3.41	%	—	4.18	%	1.62	%	—	3.15	%