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Stock-based Compensation (Tables)
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity
The Company’s stock option activity for the year ended December 31, 2024 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, 2023
413,304 $26.36 
Granted65,364 22.49 
Exercised(21,913)25.05 
Cancelled/Forfeited(44,548)35.35 
Outstanding as of December 31, 2024
412,207 24.84 4.68$— 
Vested and exercisable as of December 31, 2024412,207 24.84 4.68— 
Vested and expected to vest as of December 31, 2024412,207 24.84 4.68— 
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, 2024 was as follows:
Time-Based RSUs
Performance-Based and Other RSUs
SharesWeighted Average
Grant Date Fair
Value per Share		SharesWeighted Average
Grant Date Fair
Value per Share
Outstanding as of December 31, 20232,085,531 $129.10 17,572 $133.74 
Granted3,280,755 18.43 11,963 28.80 
Forfeited(914,211)85.99 (2,228)128.70 
Vested(2,686,407)56.26 (26,631)83.82 
Change in units based on performance
— — 188 128.70 
Outstanding as of December 31, 20241,765,668 56.60 864 231.30 
Activity of the Company’s management awards that include market conditions described above for the year ended December 31, 2024 was as follows:
SharesWeighted Average
Grant Date Fair
Value per Share
Outstanding as of December 31, 2023786,666 $127.13 
Granted162,498 6.38 
Forfeited(33,333)91.80 
Vested— — 
Outstanding as of December 31, 2024915,831 106.99 
Schedule of Assumptions to Value Purchase Rights Under the ESPP
The assumptions used to value purchase rights under the ESPP during the year ended December 31, 2024 were as follows:
May 16, 2024November 16, 2024May 16, 2023November 16, 2023
Expect term (years)0.50.50.50.5
Volatility103.2%114.1%92.2%77.6%
Risk-free interest rate5.41%4.44%5.26%5.38%
Dividend yield—%—%—%—%
Schedule of Company’s Management Awards
The Company’s Time-Based RSUs and Performance-Based and Other RSUs activity for the year ended December 31, 2024 was as follows:
Time-Based RSUs
Performance-Based and Other RSUs
SharesWeighted Average
Grant Date Fair
Value per Share		SharesWeighted Average
Grant Date Fair
Value per Share
Outstanding as of December 31, 20232,085,531 $129.10 17,572 $133.74 
Granted3,280,755 18.43 11,963 28.80 
Forfeited(914,211)85.99 (2,228)128.70 
Vested(2,686,407)56.26 (26,631)83.82 
Change in units based on performance
— — 188 128.70 
Outstanding as of December 31, 20241,765,668 56.60 864 231.30 
Activity of the Company’s management awards that include market conditions described above for the year ended December 31, 2024 was as follows:
SharesWeighted Average
Grant Date Fair
Value per Share
Outstanding as of December 31, 2023786,666 $127.13 
Granted162,498 6.38 
Forfeited(33,333)91.80 
Vested— — 
Outstanding as of December 31, 2024915,831 106.99 
Schedule of Stock-based Compensation Expense
Stock-based compensation expense by function was as follows (in thousands):
Year Ended December 31,
202420232022
Cost of sales$6,090 $9,163 $7,680 
Research and development51,231 65,840 40,898 
Sales and marketing16,094 27,577 15,814 
General and administrative63,165 104,552 98,013 
Stock-based compensation related to restructuring2,555 — — 
Total$139,135 $207,132 $162,405 
Stock-based compensation expense by type of award was as follows (in thousands):
Year Ended December 31,
202420232022
Equity Classified Awards:
Stock options$369 $2,197 $2,666 
RSAs— 61 293 
RSUs92,398 138,820 115,267 
Management awards
21,387 22,808 14,725 
ESPP845 1,313 714 
Stock-based compensation related to restructuring2,555 — — 
Liability Classified Awards:
Equity-settled fixed value
14,530 16,691 7,545 
Optogration— 6,079 10,894 
Freedom Photonics3,212 11,965 7,633 
Other3,839 7,198 2,668 
Total$139,135 $207,132 $162,405