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Employee Benefits and Share-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-Based Compensation Expense
The following table sets forth the total share-based compensation expense recognized in the Company’s Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2024 and 2023:
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
(In thousands)
Cost of product and service revenues$1,620 $2,268 $3,175 $4,276 
Research and development1,139 1,697 2,214 3,303 
Selling, general, and administrative7,272 10,124 13,283 20,552 
Total share-based compensation expense$10,031 $14,089 $18,672 $28,131 
Schedule of Assumptions Used to Value ESPP Shares
The following assumptions were used to value shares under the ESPP for the three and six months ended June 30, 2024 and 2023:
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Expected life, years
0.5 - 2.0
0.5 - 2.0
0.5 - 2.0
0.5 - 2.0
Expected volatility, %
33.7% - 57.0%
31.7% - 63.9%
33.7% - 57.0%
31.7% - 63.9%
Risk-free interest rate, %
1.5% - 5.5%
0.1% - 5.1%
1.5% - 5.5%
0.1% - 5.1%
Dividend yield, % — %— %— %— %
Schedule of Assumptions Used to Value Stock Options Granted
The following assumptions were used to value stock options granted pursuant to the Company’s 2009 Equity Incentive Plan, as amended (the “2009 Plan”) for the six months ended June 30, 2023. There were no stock options granted during the three and six months ended June 30, 2024, and three months ended June 30, 2023.
Six Months Ended June 30,
2023
Expected life, years 3.2
Expected volatility, % 44.8 %
Risk-free interest rate, % 3.7 %
Estimated forfeiture rate, %10.0 %
Dividend yield, % — %
Schedule of Share Option Activity
The following table summarizes the stock option activity under the 2009 Plan during the six months ended June 30, 2024:
Number of
Shares		Weighted-Average
Exercise Price		Weighted-Average
Remaining Years		Aggregate
Intrinsic Value
(In thousands, except per share data)
Outstanding at December 31, 20232,023 $67.68 4.6$1,013 
Granted— — 
Exercised(4)27.82 
Expired(163)73.51 
Forfeited(23)63.91 
Outstanding at June 30, 20241,833 $67.29 4.3$— 
Exercisable at June 30, 20241,744 $66.98 4.2$— 
Vested and expected to vest at June 30, 2024 and thereafter1,830 $67.26 4.2$— 
Schedule of Restricted Stock Unit Activity
The following table summarizes the RSU activity under the 2009 Plan during the six months ended June 30, 2024:
Number of
Shares		Weighted-Average
Grant Date Fair Value		Weighted-Average
Remaining Years		Aggregate
Intrinsic Value
(In thousands, except per share data)
Outstanding at December 31, 20231,078 $84.66 1.5$40,551 
Granted (Awarded)192 27.55 
Vested (Released)(130)101.33 
Forfeited(105)80.79 
Outstanding and unvested at June 30, 20241,035 $72.37 1.3$28,026 
Schedule of Restricted Stock Awards Activity
The following table summarizes the RSA activity under the 2009 Plan during the six months ended June 30, 2024:
Number of
Shares		Weighted-Average
Grant Date Fair Value
(In thousands, except per share data)
Outstanding at December 31, 202324 $70.96 
Granted (Awarded)51 31.94 
Vested (Released)(26)67.32 
Outstanding and unvested at June 30, 202449 $31.91 
Schedule of Performance-Based Restricted Stock Activity
The following table summarizes the PSU activity under the 2009 Plan during the six months ended June 30, 2024:
Number of
Shares		Weighted-Average
Grant Date Fair Value
(In thousands, except per share data)
Outstanding at December 31, 202375 $127.14 
Granted177 28.67 
Vested(5)157.56 
Forfeited(65)122.29 
Outstanding and unvested at June 30, 2024182 $32.33 
Schedule of Ordinary Shares Reserved for Future Issuance Under Equity Incentive Plans
The Company had the following ordinary shares reserved for future issuance under its equity incentive plans as of June 30, 2024:
Number of Shares
(In thousands)
Stock options outstanding1,833 
Non-vested restricted stock awards1,266 
Shares authorized for future issuance4,848 
ESPP shares available for future issuance2,916 
Total shares reserved for future issuance10,863