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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2023
Share-Based Payment Arrangement [Abstract] |
Summary of Shares Available for Future Issuances | The table below summarizes the activity pursuant to the 2021 Plan, for the years ended December 31, 2023, 2022, and the shares available for future issuances as of December 31, 2023, 2022 and 2021.
| Shares Available for Future Issuance |
Shares available as of December 31, 2021 |  | 15,074 |
Stock options issued, net |  | (175 | )
RSUs issued, net |  | (2,045 | )
Shares available as of December 31, 2022 |  | 12,854 |
Stock options issued, net |  | (2,704 | )
RSUs issued, net |  | (1,840 | )
Shares available as of December 31, 2023 |  | 8,310 |
Summary of Stock Options Activity | The table below summarizes the activity related to stock options, pursuant to the 2018 Plan and 2021 Plan, for the years ended December 31, 2023 and 2022.
| Options Outstanding |
| Number of Options |  |  | Weighted- Average Exercise Price ($ per share) |  |  | Weighted Average Remaining Contractual Life (years) |  |  | Aggregate Intrinsic Value |
December 31, 2021 |  | 10,457 |  |  | $ | 0.51 |  |  |  | 7.96 |  |  | $ | 95,935 |
Granted |  | 175 |  |  | $ | 9.58 |  |  |  |  |  |  |
Exercised |  | (465 | ) |  | $ | 0.47 |  |  |  |  |  |  |
Forfeited |  | (496 | ) |  | $ | 0.47 |  |  |  |  |  |  |
December 31, 2022 |  | 9,671 |  |  | $ | 0.67 |  |  |  | 6.99 |  |  | $ | 18,234 |
Granted |  | 3,299 |  |  | $ | 2.84 |  |  |  |  |  |  |
Exercised |  | (3,035 | ) |  | $ | 0.47 |  |  |  |  |  |  |
Forfeited |  | (777 | ) |  | $ | 4.31 |  |  |  |  |  |  |
December 31, 2023 |  | 9,158 |  |  | $ | 1.21 |  |  |  | 6.81 |  |  | $ | 18,112 |
Exercisable options as of December 31, 2023 |  | 5,940 |  |  | $ | 0.52 |  |  |  | 6.03 |  |  | $ | 15,866 |
Summary of Restricted Stock Units Activity | The table below summarizes the activity related to RSUs, pursuant to the 2018 Plan and 2021 Plan, for the years ended December 31, 2023 and 2022.
| Restricted Stock Units
| Number of Restricted Stock Units |  |  | Weighted Average Grant Date Fair Value (per share) |  |
December 31, 2021 |  | 7,671 |  |  | $ | 4.98 |  |
Granted |  | 2,047 |  |  | $ | 6.63 |  |
Vested or distributed |  | (3,026 | ) |  | $ | 4.88 |  |
Forfeited |  | (1,199 | ) |  | $ | 5.06 |  |
December 31, 2022 |  | 5,493 |  |  | $ | 5.43 |  |
Granted |  | 2,718 |  |  | $ | 2.94 |  |
Vested or distributed |  | (2,260 | ) |  | $ | 5.55 |  |
Forfeited |  | (1,490 | ) |  | $ | 4.27 |  |
December 31, 2023 |  | 4,461 |  |  | $ | 4.24 |  |
Summary of Activity Related to ESPP | The table below summarizes the activity related to the ESPP for the years ended December 31, 2023 and 2022.
| Shares Available |
December 31, 2021 |  | 2,000 |
Annual additions to the plan |  | 1,939 |
Shares purchased |  | (208 | )
December 31, 2022 |  | 3,731 |
Annual additions to the plan |  | 1,985 |
Shares purchased |  | (314 | )
December 31, 2023 |  | 5,402 |
Summary of Fair value of Stock Option Grants | The fair value of stock option grants is estimated by the Company on the date of grant using the Black Scholes-Merton option pricing model with the following weighted-average assumptions for the years ended December 31, 2023 and 2022. During the years ended December 31, 2023 and 2022, there were options granted covering 3,299 and 175 shares, respectively. There were no options granted during the year ended December 31, 2021.
| For the years ended December 31, |
| 2023 |  | 2022 |
Risk free interest | 3.55% - 4.32% |  | 1.47% |
Dividend yield | 0.00% |  | 0.00% |
Expected volatility | 75.00% |  | 58.80% |
Expected life (years) | 6.08 - 6.25 |  |  | 6.08 |
Summary of Stock-based Compensation Expense | The Company recorded stock-based compensation expense as follows.
| For the years ended December 31, |
| 2023 |  |  | 2022 |  |  | 2021 |
Cost of revenue | $ | 1,026 |  |  | $ | - |  |  | $ | - |
Research and development |  | 3,664 |  |  |  | 3,668 |  |  |  | 2,340 |
Sales and marketing |  | 635 |  |  |  | 1,396 |  |  |  | 1,379 |
General and administrative |  | 7,946 |  |  |  | 8,652 |  |  |  | 4,412 |
Total | $ | 13,271 |  |  | $ | 13,716 |  |  | $ | 8,131 |

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