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Stock-Based Compensation (Tables) | 3 Months Ended
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Mar. 31, 2024
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 three months ended March 31, 2024, and the shares available for future issuances as of March 31, 2024.
| Shares Available for Future Issuance |
Shares available as of December 31, 2023 |  | 8,310 |
Stock options issued, net |  | (2,527 | )
RSUs issued, net |  | (1,352 | )
Shares available as of March 31, 2024 |  | 4,431 |
Summary of Stock Options Activity | The table below summarizes the activity related to stock options, pursuant to the 2018 Stock Plan and 2021 Plan, for the three months ended March 31, 2024.
| Options Outstanding |
| Number of Options |  |  | Weighted- Average Exercise Price ($ per share) |  |  | Weighted Average Remaining Contractual Life (years) |  |  | Aggregate Intrinsic Value |
December 31, 2023 |  | 9,158 |  |  | $ | 1.21 |  |  |  | 6.81 |  |  | $ | 18,112 |
Granted |  | 2,527 |  |  | $ | 3.36 |  |  |  |  |  |  |
Exercised |  | (192 | ) |  | $ | 0.47 |  |  |  |  |  |  |
March 31, 2024 |  | 11,493 |  |  | $ | 1.70 |  |  |  | 7.30 |  |  | $ | 13,504 |
Exercisable options as of March 31, 2024 |  | 6,531 |  |  | $ | 0.75 |  |  |  | 6.04 |  |  | $ | 12,706 |
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 three months ended March 31, 2024.
| Restricted Stock Units
| Number of Restricted Stock Units |  |  | Weighted Average Grant Date Fair Value (per share) |  |
December 31, 2023 |  | 4,461 |  |  | $ | 4.24 |  |
Granted |  | 1,747 |  |  | $ | 3.32 |  |
Vested or distributed |  | (776 | ) |  | $ | 3.89 |  |
Forfeited |  | (579 | ) |  | $ | 3.69 |  |
March 31, 2024 |  | 4,853 |  |  | $ | 4.04 |  |
Summary of Activity Related to ESPP | The table below summarizes the activity related to the ESPP for the three months ended March 31, 2024.
ESPP Activity | Shares Available for Sale |
December 31, 2023 |  | 5,402 |
Annual additions to the plan |  | 2,000 |
Shares purchased |  | (134 | )
March 31, 2024 |  | 7,268 |
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 three months ended March 31, 2024 and 2023. During the three months ended March 31, 2024 and 2023, there were options granted covering 2,527 and 3,070 shares, respectively.
| For the three months ended March 31, |
| 2024 |  |  | 2023 |
Risk free interest | 4.09% |  |  |  | 3.55 | %
Dividend yield | 0.00% |  |  | 0.00% |
Expected volatility | 75.00% |  |  |  | 75.00 | %
Expected life (years) |  | 6.25 |  |  |  | 6.08 |
Summary of Stock-based Compensation Expense | The Company recorded stock-based compensation expense as follows.
| For the three months ended March 31,
| 2024 |  |  | 2023 |  |
Cost of revenue | $ | 298 |  |  | $ | 251 |  |
Research and development |  | 961 |  |  |  | 978 |  |
Sales and marketing |  | 131 |  |  |  | 236 |  |
General and administrative |  | 1,891 |  |  |  | 2,215 |  |
Total | $ | 3,281 |  |  | $ | 3,680 |  |

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