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Stockholders' Equity (Tables) | 12 Months Ended
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Dec. 31, 2024
Equity [Abstract] |
Schedule of Key Assumptions Used to Determine Fair Value of Options Granted | The assumptions used in determining the fair value of stock options granted were as follows:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Volatility | 83.7% |  | 83.6% |  | 78.9%
Risk-free interest rate | 4.1% |  | 3.7% |  | 2.1%
Expected life (years) | 6.21 |  | 6.21 |  | 6.19
Dividend yield rate | —% |  | —% |  | —%
Schedule of Stock Options Activity | A summary of stock option activity for the year ended December 31, 2024, 2023, and 2022 is presented below:
|  |  |  |  | Weighted |  |  |
|  |  | Weighted |  | Average |  |  |
|  |  | Average |  | Remaining |  | Aggregate |
| Stock |  | Exercise |  | Contractual |  | Intrinsic |
| Options |  | Per Share |  | Terms (Years) |  | Value |
Outstanding as of December 31, 2023 | 5,753,466 |  |  | $ | 9.46 |  |  | 6.69 |  | $ | 11,111 |  |
Granted | 1,127,833 |  |  | 13.11 |  |  |  |  |  |
Exercised | (537,293) |  |  | 7.24 |  |  |  |  |  |
Cancelled/forfeited | (192,937) |  |  | 10.56 |  |  |  |  |  |
Outstanding as of December 31, 2024 | 6,151,069 |  |  | $ | 10.29 |  |  | 6.16 |  | $ | 10,691 |  |
Vested and expected to vest at December 31, 2024 | 6,151,069 |  |  | $ | 10.29 |  |  | 6.16 |  | $ | 10,691 |  |
Exercisable as of December 31, 2024 | 3,619,512 |  |  | $ | 9.95 |  |  | 4.64 |  | $ | 7,801 |  |
Schedule of RSUs Activity | A summary of RSU activity for the year ended December 31, 2024, 2023, and 2022, is presented below:
|  |  | Weighted
| Restricted |  | Average
| Stock |  | Grant Date
| Units |  | Fair Value
Outstanding as of December 31, 2023 | 3,281,045 |  |  | $ | 8.88 |
Granted | 1,571,280 |  |  | 13.02 |
Vested | (1,131,101) |  |  | 8.63 |
Forfeited | (342,357) |  |  | 9.73 |
Outstanding as of December 31, 2024 | 3,378,867 |  |  | $ | 10.80 |
A summary of PRSU activity for the year ended December 31, 2024 and 2023, is presented below:
| Performance |  | Weighted
| Restricted |  | Average
| Stock |  | Grant Date
| Units |  | Fair Value
Outstanding as of December 31, 2023 | 233,880 |  |  | $ | 10.25 |
Granted | 298,537 |  |  | $ | 12.73 |
Vested | (136,433) |  |  | $ | 10.25 |
Forfeited | — |  |  | $ | — |
Outstanding as of December 31, 2024 | 395,984 |  |  | $ | 12.12 |
Schedule of Stock-based Compensation Expense | The following table summarizes stock-based compensation expense:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Selling, general and administrative | $ | 21,172 |  |  | $ | 15,564 |  |  | $ | 10,565 |
Research and development | 1,016 |  |  | 894 |  |  | 268 |
Total stock-based compensation expense | $ | 22,188 |  |  | $ | 16,458 |  |  | $ | 10,833 |

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