v3.25.0.1
STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
Schedule of Share-based Payment Arrangement, Option, Activity
A summary of stock option activity under the Plans was as follows:
(In thousands, except prices and years)Number of
options		Weighted-
average
exercise
price		Weighted- average remaining contractual life (years)Aggregate intrinsic value
Options outstanding at January 1, 20242,985 $16.04 5.60$629,865 
Granted (1)— 
Exercised(1,462)13.24 
Forfeited and expired (2)— 20.75 
Options outstanding at December 31, 2024
1,523 $18.73 4.67$465,985 
Options exercisable at December 31, 2024
1,523 $18.65 4.67$465,654 
________________
(1) There were no stock options granted during the year ended December 31, 2024.
(2) There was a nominal amount of forfeitures and expirations during the year ended December 31, 2024.
Schedule of Share-based Payment Arrangement, RSU, Activity
A summary of RSU activity under the Plans was as follows:
(In thousands, except prices)Restricted stock unitsWeighted-
average
grant date fair value per share
Outstanding at January 1, 2024
2,027 $106.32 
Granted719 199.82 
Released(821)103.81 
Forfeited(123)118.58 
Outstanding at December 31, 2024
1,802 $143.96 
Schedule of Share-based Payment Arrangement, Payment Award
TrancheCompany Stock Price HurdleNumber of RSUs Eligible to Vest
1 (1)$127.50 90 
2 (1)$153.00 90 
3 (2)$178.50 90 
4 (3)$204.00 180 
5 (4)$255.00 180 
6 (5)$306.00 180 
7$357.00 180 
8$408.00 180 
9$612.00 270 
10$816.00 360 
________________
(1) Stock price hurdle for the tranche was achieved in 2021, the service condition satisfied in 2022, and shares were released to CEO and CTO on August 14, 2023. Of the 180 shares underlying RSUs released, an aggregate of 96 shares were disbursed to the founders in a net-share settlement, and 84 shares were withheld by the Company to cover the founders’ tax withholding obligations.

(2) Stock price hurdle and the service condition for the tranche was achieved as of November 22, 2023; the shares were released after the one-year holding requirement was satisfied on November 22, 2024. Of the 90 shares underlying RSUs released, an aggregate of 42 shares were disbursed to the founders in a net-share settlement, and 48 shares were withheld by the Company to cover the founders’ tax withholding obligations.

(3) Stock price hurdle and the service condition for the tranche was achieved as of December 26, 2023; the shares were released after the one-year holding requirement was satisfied on December 26, 2024. Of the 180 shares underlying RSUs released, an aggregate of 85 shares were disbursed to the founders in a net-share settlement, and 95 shares were withheld by the Company to cover the founders’ tax withholding obligations.

(4) Stock price hurdle and the service condition for the tranche was achieved as of October 18, 2024; the shares will be released after the one-year holding requirement has been satisfied.

(5) Stock price hurdle and the service condition for the tranche was achieved as of November 26, 2024; the shares will be released after the one-year holding requirement has been satisfied.
The weighted-average grant date fair value of the Founder Awards was estimated to be $61.56 per share using the below inputs.
InputAssumption
Valuation DateJune 28, 2021
Risk-free interest rate1.48%
Expected life9.98
Expected volatility51.67%
Dividend yield0.00%
Fair value of common stock$95.00
Schedule of Share-based Payment Arrangement, Expensed, Amount
Stock-based compensation expense is included in the Consolidated Statements of Operations and Comprehensive Income (Loss) as shown in the following table:
Year Ended December 31,
(In thousands)202420232022
Cost of revenues$68 $55 $38 
Research and development60,076 45,119 26,373 
Sales and marketing4,912 3,908 2,540 
General and administrative45,421 46,139 44,869 
Total$110,477 $95,221 $73,820