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Stock-based Compensation | 6 Months Ended
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Jun. 30, 2025
Share-Based Payment Arrangement [Abstract] |
Stock-based Compensation | 9. Stock-based Compensation The Company has various stock-based compensation plans, which are more fully described in the 2024 Financial Statements. Under the Company’s 2022 Inducement Equity Incentive Plan, the Company has the ability to grant several forms of incentive awards to the Company's eligible employees, directors, and non-employee consultants. Stock-based compensation expense is reported in the Company's condensed consolidated statement of operations as follows (in thousands):
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Cost of product revenue |  | $ | 275 |  |  | $ | 142 |  |  | $ | 386 |  |  | $ | 263 |
Cost of services revenue |  |  | 127 |  |  |  | 79 |  |  |  | 258 |  |  |  | 120 |
Research and development expense |  |  | 481 |  |  |  | 238 |  |  |  | 820 |  |  |  | 644 |
Selling, general and administrative expense |  |  | 4,489 |  |  |  | 2,951 |  |  |  | 11,957 |  |  |  | 5,951 |
Total stock-based compensation expense |  | $ | 5,372 |  |  | $ | 3,410 |  |  | $ | 13,421 |  |  | $ | 6,978 |
Stock-based compensation will fluctuate based on the grant-date fair value of awards, the number of awards, the requisite service period of the awards, employee forfeitures and the timing of the awards. Expense related to each stock option and restricted stock unit (“RSU”) award is recognized on a straight-line basis over the requisite service period of the entire award. The following table summarizes our award activity for stock options and RSUs for the six months ended June 30, 2025 (in thousands):
|  | Stock Options |  |  | RSUs |
Outstanding at December 31, 2024 |  |  | 39,213 |  |  |  | 13,389 |
Granted |  |  | 5,162 |  |  |  | 10,699 |
Exercised or vested |  |  | — |  |  |  | (4,324 | )
Forfeited |  |  | (8,940 | ) |  |  | (1,385 | )
Outstanding at June 30, 2025 |  |  | 35,435 |  |  |  | 18,379 |

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