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Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award

RSU activity for the six months ended June 30, 2024 was as follows:

			Shares						Weighted-average grant date fair value per share
Unvested balance as of December 31, 2023			5,256,833						$	5.63
Granted			831,114						$	9.16
Vested			(1,654,325)						$	6.66
Forfeited			(222,698)						$	5.60
Unvested balance as of June 30, 2024			4,210,924						$	5.92

Summary of Stock Option Activity

A summary of equity award activity under the Company’s equity plans and related information is as follows (in thousands, except share, price and year data):

			Shares available for grant						Outstanding stock options						Weighted- average exercise Price						Weighted- average remaining contractual life (years)						Aggregate intrinsic value
Balance as of December 31, 2023			7,400,180						9,307,142						$	6.41					5.57						$	31,250
Shares authorized			1,957,530
Options granted			—						—						—
Options exercised			—						(1,694,829)						2.95
Options canceled			166,129						(166,129)						14.77
RSU awards granted, net of forfeitures			(608,416)						—
Balance as of June 30, 2024			8,915,423						7,446,184						$	7.01					5.53						$	15,601
Vested and exercisable as of June 30, 2024									6,562,148						$	6.09					5.32						$	15,346

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The following table summarizes the Black-Scholes option pricing model used in estimating the fair value of the stock purchase rights under the ESPP during the three and six months ended June 30, 2024 and 2023, respectively.

			Three Months Ended June 30,												Six months ended June 30,
			2024						2023						2024						2023
Expected term (in years)			0.5 - 2.0						0.5 - 2.0						0.5 - 2.0						0.5 - 2.0
Expected volatility			48% - 56%						45% - 68%						48% - 56%						45% - 68%
Risk-free interest rate			4.82% - 5.43%						0.10% - 5.43%						4.82% - 5.43%						0.10% - 5.43%
Expected dividend yield			—		%				—		%				—		%				—		%

Share-based Payment Arrangement, Expensed and Capitalized, Amount

Stock-based compensation expense included in the condensed consolidated statements of operations was as follows (in thousands):

			Three Months Ended June 30,												Six Months Ended June 30,
			2024						2023						2024						2023
Cost of revenue			$	354					$	387					$	740					$	803
Research and development			2,250						1,788						4,358						3,921
Sales and marketing			1,762						1,717						3,584						3,869
General and administrative			1,162						992						2,375						2,119
Total stock-based compensation expense			$	5,528					$	4,884					$	11,057					$	10,712

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Tabular disclosure of share-based payment arrangement.

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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 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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