Stock-Based Compensation (Tables)

9 Months Ended

Sep. 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 nine months ended September 30, 2024 and 2023.

	Three months ended September 30,
		2024		2023
	(in thousands)
Cost of revenues	$	4,174	$	3,299
Research and development		22,549		18,784
Selling, general and administrative		43,921		35,504
Total	$	70,644	$	57,587

	Nine months ended September 30,
		2024		2023
	(in thousands)
Cost of revenues	$	11,997	$	8,692
Research and development		65,155		48,761
Selling, general and administrative		125,350		84,923
Total	$	202,502	$	142,376

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	(1,325)	$	7.80
September 30, 2024	4,176	$	28.67

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	5,043	$	70.99
Vested	(2,968)	$	55.27
Cancelled/forfeited	(467)	$	57.96
Balance at September 30, 2024	10,856	$	57.91