v3.24.2.u1
Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Summary of Stock-Based Compensation Expense by Line Items in Condensed Consolidated Statements of Operations

A summary of stock-based compensation expense by line items in the condensed consolidated statements of operations is as follows (in thousands):

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Cost of revenue

 

 

803

 

 

 

670

 

 

 

1,362

 

 

 

1,112

 

Research and development

 

 

3,518

 

 

 

2,269

 

 

 

6,321

 

 

 

4,913

 

Sales, general and administrative

 

 

10,100

 

 

 

13,227

 

 

 

19,576

 

 

 

23,701

 

Total stock-based compensation expense

 

 

14,421

 

 

 

16,166

 

 

 

27,259

 

 

 

29,726

 

Summary of Stock-Based Compensation Expense

A summary of pre-tax stock-based compensation expense by category was as follows (in thousands):

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Stock Options

 

 

—

 

 

 

244

 

 

 

—

 

 

 

539

 

Restricted stock units

 

 

12,482

 

 

 

14,092

 

 

 

23,232

 

 

 

23,647

 

Performance stock units

 

 

1,579

 

 

 

1,334

 

 

 

3,163

 

 

 

4,166

 

Employee stock purchase plan

 

 

360

 

 

 

496

 

 

 

864

 

 

 

1,374

 

Total stock-based compensation expense

 

 

14,421

 

 

 

16,166

 

 

 

27,259

 

 

 

29,726

 

Performance Stock Units [Member]  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Schedule of PSU Grant Activity

The PSU grant activity is as follows:

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30, 2024

 

 

June 30, 2024

 

 

 

Shares

 

 

Weighted Average Fair Value

 

 

Shares

 

 

Weighted Average Fair Value

 

Total shareholder return

 

 

6,110

 

 

$

15.80

 

 

 

245,833

 

 

$

20.89

 

Revenue targets

 

 

6,110

 

 

$

11.53

 

 

 

245,844

 

 

$

15.23

 

Total PSUs granted

 

 

12,220

 

 

$

13.67

 

 

 

491,677

 

 

$

18.06

 

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30, 2023

 

 

June 30, 2023

 

 

 

Shares

 

 

Weighted Average Fair Value

 

 

Shares

 

 

Weighted Average Fair Value

 

Total shareholder return

 

 

85,393

 

 

$

44.68

 

 

 

172,924

 

 

$

45.09

 

Revenue targets

 

 

85,395

 

 

$

32.10

 

 

 

172,952

 

 

$

32.20

 

Total PSUs granted

 

 

170,788

 

 

$

38.39

 

 

 

345,876

 

 

$

38.65