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Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2024

Schedule of stock-based compensation expense recognized for employees and non-employees

​

​	​	​	​	​	​	​	​
​	​	Three Months Ended					​
​	​	March 31,					​
By Expense Category:		2024			2023		​
Cost of revenue	​	$	64	​	$	—	​
Research and development	​	​	1,011	​	​	581	​
General and administrative	​		3,449	​		1,971	​
Total stock-based compensation expense	​	$	4,524	​	$	2,552	​

​

Schedule of unamortized compensation expense and weighted average remaining recognition period

​

​	​	​	​	​	​
​	​	As of March 31, 2024
​	​	​	​	​	Weighted
​	​	​	​	​	Average
​	​	​	​	​	Remaining
​	​	​	​	​	Recognition
​		Unamortized			Period
​	​	Expense		​	(Years)
Stock options	​	$	13,698		2.0
Restricted and performance stock units	​	$	29,115	​	3.0

Schedule of assumptions used for estimating the fair value of stock options

​

​	​	​	​	​
​	​	Three Months Ended
​	​	March 31,
​		2024		2023
Expected dividend yield	​	—	​	—
Risk-free interest rate		3.98%		3.46% - 3.64%
Expected volatility		90%		94% - 95%
Expected life (years)		6.1		5.9 - 6.1

Schedule of stock option activity

​

​	​	​	​	​	​	​	​	​	​	​
​		​		​	​		Weighted		​	​
​	​	​	​	Weighted		​	Average	​	​	​
​	​	​	​	Average		​	Contractual	​	Aggregate
​	​	Number of	​	Exercise		​	Term	​	Intrinsic
​	​	Shares	​	Price		​	(in years)	​	Value
Outstanding as of December 31, 2023		9,573,937	​	$	4.80				​
Granted		7,500	​	​	12.86				​
Exercised		(23,247)	​	​	4.27				​
Cancelled		(3,000)	​	​	6.37				​
Outstanding as of March 31, 2024		9,555,190	​	$	4.81		7.5	​	$	95,040
Exercisable as of March 31, 2024		6,123,944	​	$	4.47		7.2	​	$	62,992
Vested and expected to vest as of March 31, 2024		9,069,464	​	$	4.76		7.5	​	$	90,617

Schedule of unvested RSU awards outstanding

​

​	​	​	​	​	​
​				Weighted
​	​	​	​	Average
​	​	​	​	Grant-Date
​	​	Number of	​	Fair Value
​	​	RSUs	​	(per RSU)
Unvested as of December 31, 2023		1,657,978	​	$	6.41
Granted		1,857,325	​		12.54
Vested		(383,133)	​		6.42
Forfeited		(2,277)	​		12.50
Unvested as of March 31, 2024		3,129,893	​	$	10.04

Employee Stock Purchase Plan

Schedule of assumptions used for estimating the fair value of stock options

​

​	​	​	​	​
​	​	Three Months Ended
​	​	March 31,
​		2024		2023
Expected dividend yield	​	—	​	—
Risk-free interest rate	​	5.27%	​	5.20%
Expected volatility	​	90%	​	64%
Expected life (years)	​	0.50	​	0.50

X

- Definition

Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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Tabular disclosure of the changes in outstanding nonvested restricted stock units.

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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Tabular disclosure of cost not yet recognized and weighted-average period over which cost is expected to be recognized for nonvested award under share-based payment arrangement.

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