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Share-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Disclosure of Share-Based Compensation Arrangements by Share-Based Payment Award
The following table presents the effects of share-based compensation expense in the Condensed Consolidated Statements of Operations during the periods presented (in thousands):
Three months ended March 31,
20242023
Direct costs$61 $76 
Sales and marketing758 924 
Research, development, and engineering1,090 783 
General, administrative, and other related costs6,963 6,619 
Total share-based compensation expense$8,872 $8,402 
Market-Based Restricted Stock Awards, Valuation Assumptions
The assumptions used in determining the weighted-average fair values of PSUs granted are as follows:
Three months ended March 31,
20242023
Underlying stock price at valuation date$66.88 $77.80 
Expected volatility32.9 %32.0 %
Risk-free interest rate4.3 %4.1 %
Restricted Stock and Restricted Stock Unit Award Activity
Restricted stock award activity for the three months ended March 31, 2024 is set forth below:
RSAs
PSAs
Number of
Shares
Weighted Average
Grant Date
Fair Value
Number of
Shares
Weighted Average
Grant Date
Fair Value
Nonvested at January 1, 202495,718$70.17 163,181$36.27 
Vested(36,330)70.92 — — 
Forfeited
(154)77.75 — — 
Nonvested at March 31, 2024
59,234 $69.69 163,181 $36.27 
  
Restricted stock unit activity for the three months ended March 31, 2024 is set forth below:
RSUs
PSUs
Number of
Shares

Weighted Average Grant Date Fair Value
Number of Shares (1)
Weighted Average Grant Date Fair Value
Outstanding at January 1, 2024506,425 $88.36 270,772 $77.09 
Granted347,275 66.87308,970 87.17
Vested(114,635)86.29— — 
Forfeited
(12,698)82.28(6,015)75.96
Outstanding at March 31, 2024726,367 $78.49 573,727 $82.53 
(1)Represents the number of shares at 100% achievement.