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Equity Incentive Plans (Tables) | 3 Months Ended
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Mar. 31, 2025
Share-Based Payment Arrangement [Abstract] |
Schedule of Recorded Stock-based Compensation Expense in the Condensed Consolidated Statement of Operations | The Company recorded stock-based compensation expense in the condensed consolidated statement of operations for the periods presented as follows (in thousands):
| Three Months Ended March 31, |  |
| 2025 |  | 2024 |  |  |  |
Cost of revenue | $ | 2,481 |  |  | $ | 2,033 |  |  |  |  |
Research and development | 14,106 |  |  | 16,888 |  |  |  |  |
Selling, general and administrative | 14,489 |  |  | 17,208 |  |  |  |  |
Total stock-based compensation expense | $ | 31,076 |  |  | $ | 36,129 |  |  |  |  |
Schedule of RSU Activity | Restricted stock units (“RSUs”) activity for the three months ended March 31, 2025 is as follows:
| Restricted Stock Units |  | Weighted-Average Grant Date Fair Value (per share)
Outstanding as of December 31, 2024 | 6,493,387 |  |  | $ | 35.55 |
Granted | 2,016,004 |  |  | 12.11 |
Vested | (564,701) |  |  | 47.42 |
Cancelled | (320,043) |  |  | 38.48 |
Outstanding as of March 31, 2025 | 7,624,647 |  |  | $ | 28.35 |
Schedule of the Company's Stock Option Activity | Stock option activity for the three months ended March 31, 2025 is as follows:
| Stock Options |  | Weighted-Average Exercise Price
Outstanding as of December 31, 2024 | 4,594,582 |  |  | $ | 45.37 |
Exercised | (277,212) |  |  | 1.52 |
Cancelled and forfeited | (96,812) |  |  | 52.35 |
Outstanding as of March 31, 2025 | 4,220,558 |  |  | $ | 48.09 |
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions | The Company estimated the fair values of shares granted under the market-based TSR PSUs using a Monte Carlo simulation model with the following assumptions:
Expected volatility | 67%
Risk-free interest rate | 4.0%
Expected dividend yield | —%

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- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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