Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2024

Stock-Based Compensation

Summary of stock-based compensation expenses

The following tables present the stock-based compensation expense recorded for equity classified awards on selected statements of operations line items for the three and six months ended June 30, 2024 and 2023.

	Three months ended June 30,
		2024		2023
	(in thousands)
Cost of revenues	$	4,046	$	2,838
Research and development		21,957		15,337
Selling, general and administrative		41,408		26,137
Total	$	67,411	$	44,312

	Six months ended June 30,
		2024		2023
	(in thousands)
Cost of revenues	$	7,823	$	5,394
Research and development		42,606		29,977
Selling, general and administrative		81,429		49,418
Total	$	131,858	$	84,789

Summary of stock option activity

		Weighted-
	Number of	Average
	Shares	Exercise
	Outstanding	Price
	(in thousands, except for per share data)
December 31, 2023	5,501	$	23.65
Options exercised	(1,078)	$	8.02
June 30, 2024	4,423	$	27.45

RSU and performance-based awards

		Weighted-
		Average
		Grant Date
	Shares	Fair Value
	(in thousands, except for per share data)
Balance at December 31, 2023	9,248	$	49.50
Granted	4,786	$	68.59
Vested	(2,443)	$	54.93
Cancelled/forfeited	(253)	$	54.27
Balance at June 30, 2024	11,338	$	56.59