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Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2024

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

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Three Months Ended

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Nine Months Ended

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September 30,

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September 30,

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By Expense Category:

2024

2023

2024

2023

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Cost of revenue

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$

45

​

$

—

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$

166

​

$

—

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Research and development

​

​

839

​

​

555

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​

2,676

​

​

1,714

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General and administrative

​

3,997

​

1,932

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10,935

​

5,824

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Total stock-based compensation expense

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$

4,881

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$

2,487

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$

13,777

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$

7,538

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Schedule of unamortized compensation expense and weighted average remaining recognition period

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​	​	​	​	​	​
​	​	As of September 30, 2024
​	​	​	​	​	Weighted
​	​	​	​	​	Average
​	​	​	​	​	Remaining
​	​	​	​	​	Recognition
​		Unamortized			Period
​	​	Expense		​	(Years)
Stock options	​	$	9,789		1.6
Restricted and performance stock units	​	$	26,124	​	2.5

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

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​	​	​	​	​
​	​	Nine Months Ended
​	​	September 30,
​		2024		2023
Expected dividend yield	​	—	​	—
Risk-free interest rate		3.98%		3.46% - 4.62%
Expected volatility		90%		91% - 95%
Expected life (years)		6.1		5.8 - 6.1

Schedule of stock option activity

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​	​	​	​	​	​	​	​	​	​	​
​		​		​	​		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		(351,653)	​	​	4.78				​
Cancelled		(179,926)	​	​	7.24				​
Outstanding as of September 30, 2024		9,049,858	​	$	4.76		7.1	​	$	47,835
Exercisable as of September 30, 2024		6,649,860	​	$	4.48		6.8	​	$	37,106
Vested and expected to vest as of September 30, 2024		8,772,869	​	$	4.73		7.1	​	$	46,661

Schedule of unvested RSU awards outstanding

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​	​	​	​	​	​
​				Weighted
​	​	​	​	Average
​	​	​	​	Grant-Date
​	​	Number of	​	Fair Value
​	​	RSUs	​	(per RSU)
Unvested as of December 31, 2023		1,657,978	​	$	6.41
Granted		2,146,517	​		12.57
Vested		(615,827)	​		6.48
Forfeited		(94,047)	​		7.52
Unvested as of September 30, 2024		3,094,621	​	$	10.64

Employee Stock Purchase Plan

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

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​	​	​	​	​
​	​	Nine Months Ended
​	​	September 30,
​		2024		2023
Expected dividend yield	​	—	​	—
Risk-free interest rate	​	4.80% - 5.27%	​	5.20% - 5.47%
Expected volatility	​	62% - 72%	​	60% - 64%
Expected life (years)	​	0.50	​	0.50

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- 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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-SubTopic 10
-Section 50
-Paragraph 2
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-Publisher FASB
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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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