STOCK-BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation Expense

Stock-based compensation expense, which includes expense for both equity and liability-classified awards, reported in the condensed consolidated statements of operations, was as follows:

	Three Months Ended				Six Months Ended
(in thousands)	June 30, 2024		July 2, 2023		June 30, 2024		July 2, 2023
Cost of screening revenue (exclusive of amortization of intangible assets)	$	451	$	446	$	921	$	819
Cost of development services revenue	12		4		23		4
Research and development	9,625		10,343		21,068		19,303
Sales and marketing	4,889		4,844		10,352		8,886
General and administrative	10,970		9,912		22,689		18,053
Stock-based compensation expense, before taxes	25,947		25,549		55,053		47,065
Related income tax benefits	(6,300)		(6,163)		(13,368)		(11,353)
Stock-based compensation expense, net of taxes	$	19,647	$	19,386	$	41,685	$	35,712

Summary of Restricted Stock Unit Activity

A summary of the Company’s restricted stock unit activity is as follows:

	Restricted Stock Units	Weighted-Average Grant-Date Fair Value Per Share
(Units in thousands)
Outstanding at January 1, 2024	—	$—
Conversion	6,485	$15.37
Awarded	79	$17.00
Vested	—	$—
Cancelled	—	$—
Outstanding at June 30, 2024	6,564	$15.39

Summary of Cash-Based Equity Award Activity

Cash-Based Equity Award activity was as follows:

(in thousands)
Beginning balance December 31, 2023	$	292,189
Granted	66,864
Cancelled	(11,751)
Vested and paid in cash	(53,807)
Change in fair value	(9,535)
Outstanding balance, June 28, 2024 (Award Modification Date)	$	283,960
Conversion of outstanding awards to GRAIL RSUs	(283,960)
Outstanding balance, June 30, 2024	$	—