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Employee Benefits and Share-Based Compensation (Tables)
 9 Months Ended
Sep. 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 nine months ended September 30, 2024 and 2023:
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
(In thousands)
Cost of product and service revenues$1,709 $2,213 $4,884 $6,489 
Research and development1,062 1,917 3,276 5,220 
Selling, general, and administrative8,834 10,852 22,117 31,404 
Total share-based compensation expense$11,605 $14,982 $30,277 $43,113 
Schedule of Assumptions Used to Value ESPP Shares
The following assumptions were used to value shares under the ESPP for the three and nine months ended September 30, 2024 and 2023:
Three Months Ended September 30,Nine Months Ended September 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% - 58.7%
32.0% - 63.9%
33.7% - 58.7%
31.7% - 63.9%
Risk-free interest rate, %
3.2% - 5.3%
0.2% - 5.5%
1.5% - 5.5%
0.1% - 5.5%
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 nine months ended September 30, 2023. There were no stock options granted during the three and nine months ended September 30, 2024 or the three months ended September 30, 2023.
Nine Months Ended September 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 nine months ended September 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(16)30.54 
Expired(209)73.50 
Forfeited(23)63.93 
Outstanding at September 30, 20241,775 $67.38 4.1$2,399 
Exercisable at September 30, 20241,762 $66.97 4.0$2,399 
Vested and expected to vest at September 30, 2024 and thereafter1,774 $67.36 4.1$2,399 
Schedule of Restricted Stock Unit Activity
The following table summarizes the RSU activity under the 2009 Plan during the nine months ended September 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)1,023 40.04 
Vested (Released)(297)88.81 
Forfeited(130)78.53 
Outstanding and unvested at September 30, 20241,674 $57.13 1.7$72,966 
Schedule of Restricted Stock Awards Activity
The following table summarizes the RSA activity under the 2009 Plan during the nine months ended September 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 September 30, 202449 $31.91 
Schedule of Performance-Based Restricted Stock Activity
The following table summarizes the PSU activity under the 2009 Plan during the nine months ended September 30, 2024:
Number of
Shares		Weighted-Average
Grant Date Fair Value
(In thousands, except per share data)
Outstanding at December 31, 202375 $127.14 
Granted (Awarded)177 28.67 
Vested (Released)(5)157.56 
Forfeited(65)122.29 
Outstanding and unvested at September 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 September 30, 2024:
Number of Shares
(In thousands)
Stock options outstanding1,775 
Non-vested restricted stock awards1,905 
Shares authorized for future issuance3,396 
ESPP shares available for future issuance2,726 
Total shares reserved for future issuance9,802