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Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2025
Stock-Based Compensation  
Summary of stock-based compensation expenses

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Three months ended March 31, 

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2025

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2024

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(in thousands)

Cost of revenues

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$

5,270

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$

3,777

Research and development

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26,511

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20,649

Selling, general and administrative

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46,046

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40,021

Total

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$

77,827

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$

64,447

Summary of stock option activity

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Weighted-

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Number of

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Average

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Shares

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Exercise

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Outstanding

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Price

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(in thousands, except for per share data)

December 31, 2024

3,875

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$

30.22

Options exercised

(50)

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$

11.80

Options forfeited/cancelled

(3)

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$

3.78

March 31, 2025

3,822

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$

30.47

RSU and performance-based awards

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Weighted-

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Average

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Grant Date

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Shares

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Fair Value

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(in thousands, except for per share data)

Balance at December 31, 2024

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10,593

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$

61.28

Granted

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2,721

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$

171.72

Vested

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(3,236)

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$

59.65

Cancelled/Forfeited

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(104)

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$

74.42

Balance at March 31, 2025

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9,974

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$

86.75