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Stock-based Compensation (Tables) | 6 Months Ended
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Jun. 30, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock Option Activity | Stock option activity for the six months ended June 30, 2024 is as follows:
| Number of Shares Underlying Outstanding Options |  | Weighted- Average Exercise Price per Share |  | Weighted- Average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value
Outstanding—December 31, 2023 | 1,871,649 |  |  | $ | 7.36 |  |  | 6.72 |  | $ | 6,191 |
Options exercised | (76,860) |  |  | 1.19 |  |  |  |  |
Options cancelled | (6,705) |  |  | 16.49 |  |  |  |  |
Outstanding—June 30, 2024 | 1,788,084 |  |  | $ | 7.56 |  |  | 6.19 |  | $ | 7,930 |
Vested and expected to vest—June 30, 2024 | 1,788,084 |  |  | $ | 7.56 |  |  | 6.19 |  | $ | 7,930 |
Exercisable—June 30, 2024 | 1,659,069 |  |  | $ | 7.51 |  |  | 6.19 |  | $ | 7,421 |
Schedule of Stock Options Outstanding and Exercisable | The following table summarizes information about stock options outstanding and exercisable at June 30, 2024.
|  | Options Outstanding |  | Options Exercisable
Exercise Price |  | Options Outstanding |  | Weighted Average Remaining Contractual Life (Years) |
$ | 1.85 |  |  | 212,684 |  |  | 6.02 |  | 210,786 |
2.13 |  |  | 809,709 |  |  | 6.26 |  | 745,644 |
14.22 |  |  | 752,408 |  |  | 6.25 |  | 689,706 |
52.40 |  |  | 13,238 |  |  | 3.67 |  | 12,933 |
|  | 1,788,039 |  |  |  |  | 1,659,069 |
Schedule of Nonvested Restricted Stock Units Activity | A summary of RSU activity is as follows:
| Number of Shares |  | Weighted Average Grant Date Fair Value (per share)
Unvested—December 31, 2023 | 3,074,939 |  |  | $ | 13.19 |
Granted | 2,334,378 |  |  | 9.77 |
Canceled | (127,957) |  |  | 17.19 |
Vested | (1,070,815) |  |  | 12.85 |
Unvested—June 30, 2024 | 4,210,545 |  |  | $ | 11.26 |
Schedule of Nonvested Restricted Stock Awards Activity | A summary of RSA activity is as follows:
| Number of Shares |  | Weighted Average Grant Date Fair Value (per share)
Unvested—December 31, 2023 | 380,383 |  |  | $ | 15.30 |
Granted | 533,601 |  |  | 7.94 |
Canceled | — |  |  | — |
Vested | (187,610) |  |  | 12.66 |
Unvested—June 30, 2024 | 726,374 |  |  | $ | 10.58 |
Schedule of Stock-based Compensation | The Company recognized stock-based compensation expense for all share-based awards in the condensed consolidated statements of operations and comprehensive loss as follows (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Cost of revenue | $ | 1,210 |  |  | $ | 654 |  |  | $ | 2,123 |  |  | $ | 1,428 |
Research and development | 4,650 |  |  | 8,204 |  |  | 8,838 |  |  | 15,709 |
Sales and marketing | 1,492 |  |  | 3,500 |  |  | 2,892 |  |  | 6,381 |
General and administrative | 3,343 |  |  | 4,108 |  |  | 6,246 |  |  | 14,728 |
Total stock-based compensation | $ | 10,695 |  |  | $ | 16,466 |  |  | $ | 20,099 |  |  | $ | 38,246 |
The following table summarizes stock-based compensation expense by award type (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
RSUs | $ | 7,495 |  |  | $ | 13,457 |  |  | $ | 14,304 |  |  | $ | 29,787 |
Stock Options | 1,512 |  |  | 2,007 |  |  | 3,042 |  |  | 4,012 |
Employee stock purchase plan | 514 |  |  | 224 |  |  | 1,019 |  |  | 408 |
RSAs | 1,174 |  |  | 778 |  |  | 1,734 |  |  | 4,039 |
Total stock-based compensation | $ | 10,695 |  |  | $ | 16,466 |  |  | $ | 20,099 |  |  | $ | 38,246 |

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