XML 54 R41.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Equity Incentive Plans (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock Option Activity | A summary of our stock option activity and related information during the year ended December 31, 2024 is as follows:
| Options Issued and Outstanding |  | Weighted Average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value (in thousands)
Number of Shares (in thousands) |  | Weighted-Average Exercise Price per Share |  |
Balance at December 31, 2023 | 22,168 |  |  | $ | 4.20 |  |  |  |  |
Options granted | 9,674 |  |  | $ | 7.95 |  |  |  |  |
Options exercised | (2,654) |  |  | $ | 2.24 |  |  |  |  |
Options canceled | (1,103) |  |  | $ | 5.35 |  |  |  |  |
Balance at December 31, 2024 | 28,085 |  |  | $ | 5.63 |  |  | 7.1 |  | $ | 31,830 |
Vested and expected to vest at December 31, 2024 | 28,085 |  |  | $ | 5.63 |  |  | 7.1 |  | $ | 31,830 |
Exercisable at December 31, 2024 | 14,968 |  |  | $ | 5.52 |  |  | 5.7 |  | $ | 19,161 |
Schedule of Valuation Assumptions for Stock Options | The estimated grant date fair value of employee stock options was calculated using the Black-Scholes option-pricing model, based on the following weighted-average assumptions:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Expected term (in years) | 5.4 |  | 5.1 |  | 4.9
Expected volatility | 100.8 | % |  | 97.6 | % |  | 92.1 | %
Risk-free interest rate | 4.0 | % |  | 3.8 | % |  | 2.2 | %
Dividend yield | — | % |  | — | % |  | — | %
Schedule of Restricted Stock Units Activity | A summary of our RSUs activity and related information for the year ended December 31, 2024 is as follows:
| Number of RSUs (in thousands) |  | Weighted-Average Grant Date Fair Value Per Share |  |  |  |
Non-vested restricted stock units at December 31, 2023 | 3,646 |  |  | $ | 3.09 |  |  |  |  |
Granted | 7,382 |  |  | $ | 7.94 |  |  |  |  |
Vested | (2,430) |  |  | $ | 5.65 |  |  |  |  |
Forfeited | (585) |  |  | $ | 5.68 |  |  |  |  |
Non-vested restricted stock units at December 31, 2024 | 8,013 |  |  | $ | 6.59 |  |  |  |  |
Schedule of Valuation Assumptions for Employee Stock Purchase Plan | The following table illustrates the weighted-average assumptions for the Black-Scholes option-pricing model used in determining the fair value of ESPP purchase rights granted to our employees:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Expected term (in years) | 0.5 |  | 0.5 |  | 0.5
Expected volatility | 82.8 | % |  | 86.0 | % |  | 97.2 | %
Risk-free interest rate | 5.0 | % |  | 5.3 | % |  | 1.9 | %
Dividend yield | — | % |  | — | % |  | — | %
Schedule of Stock-Based Compensation Recognized | Stock-based compensation expense recognized for stock options, RSUs and our ESPP is recorded as operating expenses in our statements of operations and comprehensive loss, as follows:
| Year Ended December 31,
(in thousands) | 2024 |  | 2023 |  | 2022
Selling, general and administrative | $ | 27,791 |  |  | $ | 9,952 |  |  | $ | 7,525 |
Research and development | 9,590 |  |  | 3,578 |  |  | 3,225 |
Total | $ | 37,381 |  |  | $ | 13,530 |  |  | $ | 10,750 |
Schedule of Total Unrecognized Stock-Based Compensation Expense, Net of Estimated Forfeitures | A summary of our total unrecognized stock-based compensation expense, net of estimated forfeitures, as of December 31, 2024 is as follows:
| December 31, 2024
| Unrecognized Compensation Expense (in thousands) |  | Average Remaining Vesting Period (in years)
Stock option grants | $ | 55,610 |  |  | 2.71
RSU grants | $ | 49,930 |  |  | 2.96
ESPP | $ | 162 |  |  | 0.1

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + 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 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of employee stock purchase plans, including, but not limited to: (a) expected term, (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
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardEmployeeStockPurchasePlanValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (i) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfUnrecognizedCompensationCostNonvestedAwardsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration