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Stock-based Compensation (Tables)
12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity

The Company’s stock option activity for the year ended December 31, 2025 was as follows (in thousands, except years and per share data):

   
Number of
Stock Options
   
Weighted-
Average
Exercise
Price
 
Weighted-
Average
Remaining
Contractual
Life (Years)
 
Aggregate
Intrinsic Value
 
Outstanding as of December 31, 2024
   
412,207
   
$
24.84
         
Granted
   
     
         
Exercised
   
     
         
Cancelled/Forfeited
   
(56,675
)
   
25.05
         
Outstanding as of December 31, 2025
   
355,532
     
24.81
     
2.55
   
$
 
Vested and exercisable as of December 31, 2025
   
355,532
     
24.81
     
2.55
     
 
Vested and expected to vest as of December 31, 2025
   
355,532
     
24.81
     
2.55
     
 
Schedule of Company's Time-Based RSUs and Performance-Based and Other RSUs

The Company’s Time-Based RSUs and Performance-Based and Other RSUs activity for the year ended December 31, 2025 was as follows:
 
   
Time-Based RSUs
   
Performance-Based and Other RSUs
 
   
Shares
   
Weighted Average
Grant Date Fair
Value per Share
   
Shares
   
Weighted Average
Grant Date Fair
Value per Share
 
Outstanding as of December 31, 2024
   
1,765,668
   
$
56.60
     
864
   
$
231.30
 
Granted
   
5,046,130
     
3.53
     
     
 
Forfeited
   
(1,091,655
)
   
35.51
     
(864
)
   
231.30
 
Vested
   
(3,969,465
)
   
14.15
     
     
 
Outstanding as of December 31, 2025
   
1,750,678
     
13.06
     
     
 


Activity of the Company’s management awards that include market conditions described above for the year ended December 31, 2025 was as follows:

   
Shares
   
Weighted Average
Grant Date Fair
Value per Share
 
Outstanding as of December 31, 2024
   
915,831
   
$
106.99
 
Granted
   
820,379
     
2.96
 
Forfeited
   
(573,164
)
   
116.81
 
Change in units based on performance
   
(226,000
)
   
136.22
 
Vested
   
     
 
Outstanding as of December 31, 2025
   
937,046
     
2.85
 
Schedule of Stock-based Compensation Expense

Stock-based compensation expense by function was as follows (in thousands):

   
Year Ended December 31,
 
   
2025
   
2024
   
2023
 
Cost of sales
 
$
3,600
   
$
6,090
   
$
9,163
 
Research and development
   
17,018
     
51,231
     
65,840
 
Sales and marketing
   
3,870
     
16,094
     
27,577
 
General and administrative
   
(15,478
)
   
63,165
     
104,552
 
Stock-based compensation related to restructuring
   
(304
)
   
2,555
     
 
Total
 
$
8,706
   
$
139,135
   
$
207,132
 

Stock-based compensation expense by type of award was as follows (in thousands):

   
Year Ended December 31,
 
   
2025
   
2024
   
2023
 
Equity Classified Awards:
                 
Stock options
 
$
   
$
369
   
$
2,197
 
RSAs
   
     
     
61
 
RSUs
   
34,497
     
92,398
     
138,820
 
Management awards
   
(27,142
)
   
21,387
     
22,808
 
ESPP
   
379
     
845
     
1,313
 
Stock-based compensation related to restructuring
   
(304
)
   
2,555
     
 
Liability Classified Awards:
                       
Equity-settled fixed value
   
4,815
     
14,530
     
16,691
 
Optogration
   
     
     
6,079
 
Freedom Photonics
   
(2,250
)
   
3,212
     
11,965
 
Other
   
(1,289
)
   
3,839
     
7,198
 
Total
 
$
8,706
   
$
139,135
   
$
207,132