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Stock-Based Incentive Compensation Plans (Tables)

9 Months Ended

Sep. 30, 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			(1,073,758)
Cancelled			527,313
Withheld for taxes			56,006
Shares available for grant as of September 30, 2024			2,215,236

Schedule of Stock Option Activity

A summary of stock option activity for the nine months ended September 30, 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			487,654						$	12.33
Exercised			(519,314)						$	1.56
Cancelled			(142,689)						$	14.67
Balances at September 30, 2024			2,414,416						$	6.12					7.37
Vested and exercisable at September 30, 2024			1,548,358						$	4.67					6.50
Vested and expected to vest at September 30, 2024			2,414,416						$	6.12					7.37

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			586,104						$	13.45
Vested			(983,744)						$	6.45
Cancelled			(384,624)						$	7.61
Unvested, September 30, 2024			1,648,539						$	8.77

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

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

			Three Months Ended September 30,												Nine Months Ended September 30,
			2024						2023						2024						2023
Cost of goods sold			$	180					$	155					$	539					$	449
Research and development			816						751						2,421						1,984
Selling, general and administrative			1,595						1,515						4,719						4,768
Total stock-based compensation			$	2,591					$	2,421					$	7,679					$	7,201

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

			Three Months Ended September 30,												Nine Months Ended September 30,
			2024						2023						2024						2023
Stock options and restricted stock units			$	2,462					$	2,333					$	7,284					$	7,010
ESPP			129						88						395						191
Total stock-based compensation			$	2,591					$	2,421					$	7,679					$	7,201

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Tabular disclosure of share-based payment arrangement.

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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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