STOCK PLANS AND SHARE BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2024

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Stock-based Compensation Expense

The following table summarizes the stock-based compensation expense recognized in accordance with ASC 718-10 for the years ended December 31, 2024, 2023 and 2022:

	Year Ended December 31,
(In thousands)	2024		2023		2022
Cost of revenues	$	2,090	$	1,692	$	1,132
Research and development		12,587		10,939		10,428
Sales and marketing		8,064		6,888		6,035
General and administrative		12,335		9,009		4,769
Total stock-based compensation expense	$	35,076	$	28,528	$	22,364

Share-based Payment Arrangement, Nonvested Award, Cost

The following table summarizes total compensation expense related to unvested awards not yet recognized, net of expected forfeitures, and the weighted average period over which it is expected to be recognized as of December 31, 2024:

	Unrecognized Compensation		Weighted Average
	Expense for Unvested		Remaining Recognition
	Awards		Period
	(In thousands)		(In years)
Long-term performance-based awards	$	8,179	1.56
Restricted stock units		47,410	2.61
Purchase plan		156	0.08
Total unrecognized compensation expense	$	55,745

Fair value assumptions for employees' stock purchase rights under the Purchase Plan

The fair value of employees’ stock purchase rights under the Purchase Plan was estimated using the Black-Scholes model with the following weighted-average assumptions used during the three years ended December 31, 2024, 2023 and 2022:

	Year Ended December 31,
	2024			2023			2022
Risk-free interest rates		5.15	%		5.15	%		1.71	%
Expected volatility rates		36	%		37	%		41	%
Expected dividend yield		1.15	%		0.90	%		0.89	%
Expected term of purchase rights (in years)		0.50			0.49			0.50
Weighted-average estimated fair value of purchase rights	$	18.27		$	23.75		$	21.63

Schedule of Share-based Compensation, Restricted Stock Units Award Activity

A summary of RSU awards outstanding as of December 31, 2024, and activity during the three years then ended, is presented below:

				Weighted-Average	Aggregate
		Weighted-Average		Remaining	Intrinsic
	Shares	Grant Date Fair		Contractual Term	Value
	(In thousands)	Value Per Share		(In years)	(In thousands)
Outstanding at January 1, 2022	1,144	$	46.81
Granted	519	$	76.01
Vested	(481)	$	44.70
Forfeited	(86)	$	60.02
Outstanding at December 31, 2022	1,096	$	60.52
Granted	335	$	80.97
Vested	(418)	$	53.08
Forfeited	(32)	$	73.29
Outstanding at December 31, 2023	981	$	70.27
Granted	440	$	67.09
Vested	(371)	$	64.28
Forfeited	(121)	$	72.87
Outstanding at December 31, 2024	929	$	70.82	1.45	$	57,300
Outstanding and expected to vest at December 31, 2024	870			1.38	$	53,649

Performance Based Awards

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of performance-based awards outstanding

A summary of PSU awards outstanding as of December 31, 2024, and activity during the three years then ended, is presented below:

				Weighted-
				Average
		Weighted-Average		Remaining	Aggregate
	Shares	Grant Date Fair		Contractual Term	Intrinsic Value
	(In thousands)	Value Per Share		(In years)	(In thousands)
Outstanding at January 1, 2022	104	$	84.47
Granted	119	$	79.91
Vested	(104)	$	84.48
Forfeited or canceled	(85)	$	79.89
Outstanding at December 31, 2022	34	$	79.94
Granted	131	$	82.96
Vested	(34)	$	79.94
Forfeited or canceled	(93)	$	82.96
Outstanding at December 31, 2023	38	$	82.95
Granted	185	$	69.97
Vested	(38)	$	82.94
Forfeited or canceled	(119)	$	69.98
Outstanding at December 31, 2024	66	$	69.95	—	$	4,090
Outstanding and expected to vest at December 31, 2024	66			—	$	4,090

Long-Term Performance-Based Awards (PRSUs)

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of performance-based awards outstanding

A summary of PRSU awards outstanding as of December 31, 2024, and activity during the three years then ended, is presented below:

				Weighted-Average	Aggregate
		Weighted-Average		Remaining	Intrinsic
	Shares	Grant Date Fair		Contractual Term	Value
	(In thousands)	Value Per Share		(In years)	(In thousands)
Outstanding at January 1, 2022	383	$	53.14
Granted	110	$	78.96
Vested	(135)	$	34.09
Forfeited or canceled	(122)	$	49.68
Outstanding at December 31, 2022	236	$	77.82
Granted	146	$	80.92
Vested	(23)	$	49.68
Forfeited or canceled	(103)	$	82.92
Outstanding at December 31, 2023	256	$	80.08
Granted	186	$	68.30
Vested	—		—
Forfeited or canceled	(125)	$	78.34
Outstanding at December 31, 2024	317	$	73.85	1.56	$	19,534
Outstanding and expected to vest at December 31, 2024	177			2.00	$	10,946