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Stock-Based Compensation (Tables) | 9 Months Ended
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Sep. 30, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Disclosure of Share-based Compensation Arrangements by Share-based Payment Award | RSU activity for the nine months ended September 30, 2024 was as follows:
| Shares |  | Weighted-average grant date fair value per share
Shares unvested as of December 31, 2023 | 5,256,833 |  | $ | 5.63 |
Granted | 3,205,244 |  | $ | 7.02 |
Vested | (2,592,279) |  | $ | 6.36 |
Forfeited | (431,446) |  | $ | 6.24 |
Shares unvested and expected to vest as of September 30, 2024 | 5,438,352 |  | $ | 6.05 |
Schedule of Stock Option Activity | A summary of stock option award activity under the Company’s equity plans and related information is as follows (in thousands, except share, price and year data):
|  |  | Outstanding stock options |  | Weighted- average exercise Price |  | Weighted- average remaining contractual life (years) |  | Aggregate intrinsic value
Balance as of December 31, 2023 |  |  | 9,307,142 |  |  | $ | 6.41 |  |  | 5.57 |  | $ | 31,250 |
Options granted |  |  | — |  |  | — |  |  |  |  |
Options exercised |  |  | (2,135,767) |  |  | 2.97 |  |  |  |  |
Options canceled |  |  | (287,388) |  |  | 14.12 |  |  |  |  |
Balance as of September 30, 2024 |  |  | 6,883,987 |  |  | $ | 7.16 |  |  | 5.07 |  | $ | 15,150 |
Vested and exercisable as of September 30, 2024 |  |  | 6,283,883 |  |  | $ | 6.46 |  |  | 4.89 |  | $ | 15,017 |
Vested and expected to vest |  |  | 6,883,987 |  |  | $ | 7.16 |  |  | 5.07 |  | $ | 15,150 |
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 nine months ended September 30, 2024 and 2023. There were no ESPP offerings requiring fair value inputs during the three months ended September 30, 2024 and 2023.
|  |  | Nine months ended September 30,
|  |  |  |  | 2024 |  | 2023
Expected term (in years) |  |  |  |  | 0.5 - 2.0 |  | 0.5 - 2.0
Expected volatility |  |  |  |  | 48% - 56% |  | 45% - 68%
Risk-free interest rate |  |  |  |  | 4.82% - 5.43% |  | 0.10% - 5.43%
Expected dividend yield |  |  |  |  | — | % |  | — | %
Schedule of Share-based Payment Arrangement, Expensed and Capitalized, Amount | Stock-based compensation expense included in the condensed consolidated statements of operations and comprehensive loss was as follows (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Cost of revenue | $ | 478 |  |  | $ | 653 |  |  | $ | 1,218 |  |  | $ | 1,456 |
Research and development | 3,097 |  |  | 2,865 |  |  | 7,455 |  |  | 6,786 |
Sales and marketing | 2,908 |  |  | 2,747 |  |  | 6,492 |  |  | 6,616 |
General and administrative | 1,955 |  |  | 1,693 |  |  | 4,330 |  |  | 3,812 |
Total stock-based compensation expense | $ | 8,438 |  |  | $ | 7,958 |  |  | $ | 19,495 |  |  | $ | 18,670 |

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