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Stockholders' Deficit (Tables)
9 Months Ended
Sep. 30, 2024
Stockholders' Equity Note [Abstract]  
Schedule of Number of Common Stock Reserved for Future Issuance

As of September 30, 2024 and December 31, 2023, the Company had reserved common stock for future issuance as follows:

 

 

 

September 30,

 

 

December 31,

 

 

 

2024

 

 

2023

 

Conversion of Series Seed redeemable convertible preferred stock

 

 

1,218,208

 

 

 

1,218,208

 

Conversion of Series A redeemable convertible preferred stock

 

 

3,026,755

 

 

 

3,026,755

 

Conversion of Series B redeemable convertible preferred stock

 

 

4,648,714

 

 

 

4,648,714

 

Conversion of Series C redeemable convertible preferred stock

 

 

8,923,966

 

 

 

8,923,966

 

Conversion of Series B warrants

 

 

45,726

 

 

 

45,726

 

Conversion of Series C-1 warrants

 

 

56,573

 

 

 

15,228

 

Outstanding options under the 2014 Plan

 

 

4,120,841

 

 

 

4,746,527

 

Outstanding options under the 2024 EIP

 

 

1,556,057

 

 

 

 

Outstanding RSUs under the 2024 EIP

 

 

19,843

 

 

 

 

Options reserved for future issuance under the 2014 Plan

 

 

 

 

 

409,017

 

Options reserved for future issuance under the 2024 EIP

 

 

136,429

 

 

 

 

Total

 

 

23,753,112

 

 

 

23,034,141

 

Schedule Of Activity Under The Plans

Activity under the plans is as follows:

 

 

 

 

 

 

 

 

Weighted
average

 

 

Aggregate

 

 

 

Number of

 

 

Weighted
average

 

 

remaining
contractual

 

 

intrinsic
value

 

 

 

options

 

 

exercise price

 

 

life (years)

 

 

(thousands)

 

Balance at December 31, 2023

 

 

4,746,527

 

 

$

4.04

 

 

 

8.17

 

 

 

13,383

 

Options granted

 

 

1,713,753

 

 

 

11.68

 

 

 

 

 

 

 

Options exercised

 

 

(348,943

)

 

 

2.69

 

 

 

 

 

 

 

Options forfeited

 

 

(434,439

)

 

 

5.12

 

 

 

 

 

 

 

Balance at September 30, 2024

 

 

5,676,898

 

 

 

6.35

 

 

 

7.91

 

 

 

59,386

 

Shares outstanding, vested, and expected to vest at September 30, 2024

 

 

5,676,898

 

 

 

6.35

 

 

 

7.91

 

 

 

59,386

 

Shares exercisable at September 30, 2024

 

 

2,555,661

 

 

$

3.76

 

 

 

6.75

 

 

 

33,358

 

Schedule of Assumptions Used for Estimate of Fair Value of Options

The fair value of employee stock options granted was estimated using the following weighted-average assumptions:

 

 

 

Three months ended September 30,

 

Nine months ended September 30,

 

 

2024

 

2023

 

2024

 

2023

Expected term (in years)

 

 

5.5

 

 

 

 

5.1

 

 

 

 

5.4

 

 

 

 

5.0

 

 

Expected volatility

 

 

63.4

 

%

 

 

74.5

 

%

 

 

68.3

 

%

 

 

75.6

 

%

Risk-free interest rate

 

 

3.8

 

%

 

 

4.5

 

%

 

 

4.1

 

%

 

 

4.1

 

%

Dividend yield

 

 

 

 

 

 

 

 

 

 

 

 

Schedule Of Total Stock Based Compensation Expense

The Company’s total stock-based compensation expense was as follows (in thousands):

 

 

 

Three months ended September 30,

 

Nine months ended September 30,

 

 

2024

 

2023

 

2024

 

2023

Sales and marketing

 

$

395

 

 

 

$

158

 

 

 

$

837

 

 

 

$

495

 

 

General and administrative

 

 

792

 

 

 

 

351

 

 

 

 

1,894

 

 

 

 

1,103

 

 

Research and development

 

 

189

 

 

 

 

128

 

 

 

 

478

 

 

 

 

335

 

 

Total stock-based compensation expense

 

$

1,376

 

 

 

$

637

 

 

 

$

3,209

 

 

 

$

1,933