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Stock-Based Incentive Compensation Plans (Tables)

3 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Available for Grant

A summary of shares available for grant under the Company’s 2021 Equity Incentive Plan, or the 2021 Plan, is as follows:

			Shares Available for Grant
Shares available for grant as of January 1, 2024			1,314,502
Authorized			1,391,173
Granted/Awarded			(770,044)
Cancelled			188,145
Withheld for taxes			37,541
Shares available for grant as of March 31, 2024			2,161,317

Schedule of Stock Option Activity

A summary of stock option activity for the three months ended March 31, 2024 is set forth below:

			Options Outstanding
			Number of Shares						Weighted-Average Exercise Price						Weighted Average Remaining Contractual Term (in Years)
Balances as of January 1, 2024			2,588,765						$	4.51					7.17
Granted			288,170						$	16.02
Exercised			(409,045)						$	1.76
Cancelled			(50,622)						$	9.67
Balances at March 31, 2024			2,417,268						$	6.23					7.86
Vested and exercisable at March 31, 2024			1,357,081						$	5.00					7.03
Vested and expected to vest at March 31, 2024			2,417,268						$	6.23					7.86

Schedule of Restricted Stock Units

Activity with respect to restricted stock units was as follows:

			Number of Shares Underlying Outstanding Restricted Stock Units						Weighted Average Grant Date Fair Value
Unvested, January 1, 2024			2,430,803						$	6.52
Granted			481,874						$	14.73
Vested			(522,483)						$	5.87
Cancelled			(137,523)						$	5.92
Unvested, March 31, 2024			2,252,671						$	8.46

Schedule of Share-based Payment Arrangement, Expensed and Capitalized, Amount

The Company recognized stock-based compensation as follows (in thousands):

						Three Months Ended March 31,
						2024						2023
Cost of goods sold						$	162					$	146
Research and development						809						500
Selling, general and administrative						1,569						1,479
Total stock-based compensation						$	2,540					$	2,125

The above stock-based compensation expense related to the following equity-based awards (in thousands):

						Three Months Ended March 31,
						2024						2023
Stock options and restricted stock units						$	2,404					$	2,071
ESPP						136						54
Total stock-based compensation						$	2,540					$	2,125

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Tabular disclosure of share-based payment arrangement.

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