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Stock-Based Incentive Compensation Plans (Tables) | 3 Months Ended
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Mar. 31, 2025
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, 2025 | 2,201,012 |
Authorized | 1,507,251 |
Granted/Awarded | (871,273) |
Cancelled | 18,335 |
Withheld for taxes | 17,380 |
Shares available for grant as of March 31, 2025 | 2,872,705 |
Schedule of Stock Option Activity | A summary of stock option activity for the three months ended March 31, 2025 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, 2025 | 2,368,208 |  |  | $ | 6.01 |  |  | 7.27
Granted | 294,957 |  |  | $ | 10.27 |  |  |
Exercised | (101,301) |  |  | $ | 3.80 |  |  |
Cancelled | (8,174) |  |  | $ | 21.67 |  |  |
Balances at March 31, 2025 | 2,553,690 |  |  | $ | 6.54 |  |  | 7.62
Vested and exercisable at March 31, 2025 | 1,611,585 |  |  | $ | 5.06 |  |  | 6.82
Vested and expected to vest at March 31, 2025 | 2,553,690 |  |  | $ | 6.54 |  |  | 7.62
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, 2025 | 1,480,338 |  |  | $ | 8.92 |
Granted | 576,316 |  |  | $ | 11.51 |
Vested | (299,535) |  |  | $ | 10.17 |
Cancelled | (10,161) |  |  | $ | 10.48 |
Unvested, March 31, 2025 | 1,746,958 |  |  | $ | 9.55 |
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,
|  | 2025 |  | 2024
Cost of goods sold |  | $ | 178 |  |  | $ | 162 |
Research and development |  | 872 |  |  | 809 |
Selling, general and administrative |  | 1,576 |  |  | 1,569 |
Total stock-based compensation |  | $ | 2,626 |  |  | $ | 2,540 |
The above stock-based compensation expense related to the following equity-based awards (in thousands):
|  | Three Months Ended March 31,
|  | 2025 |  | 2024
Stock options and restricted stock units |  | $ | 2,489 |  |  | $ | 2,404 |
ESPP |  | 137 |  |  | 136 |
Total stock-based compensation |  | $ | 2,626 |  |  | $ | 2,540 |

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