XML 23 R16.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

Equity Incentive Plan | 3 Months Ended
--- | ---
Mar. 31, 2024
Equity [Abstract] |
Equity Incentive Plan | 11. Equity Incentive Plan Option Plan Activity The following table summarizes the stock option activity for the three months ended March 31, 2024:
|  | Shares (in thousands) |  |  | Weighted- Average Exercise Price |  |  | Weighted- Average Remaining Contractual Term (Years) |
Outstanding at December 31, 2023 |  |  | 24,575 |  |  | $ | 7.06 |  |  |  | 5.60 |
Granted |  |  | 6,331 |  |  | $ | 2.17 |  |  |  |
Exercised |  |  | (40 | ) |  | $ | 1.88 |  |  |  |
Expired and forfeited |  |  | (1,486 | ) |  | $ | 10.35 |  |  |  |
Outstanding at March 31, 2024 |  |  | 29,380 |  |  | $ | 5.85 |  |  |  | 7.23 |
We estimated the fair value of each option grant on the grant date using the Black-Scholes option pricing model and for market-based stock option grants using the Monte Carlo simulation model. The following are the weighted-average assumptions:
|  | For the Three Months Ended |
|  | March 31, |
|  | 2024 |  |  | 2023 |
Risk-free interest rate |  |  | 4.2 | % |  |  | 3.7 | %
Dividend yield |  |  | 0.0 | % |  |  | 0.0 | %
Volatility |  |  | 79.7 | % |  |  | 63.9 | %
Expected life (years) |  |  | 4 |  |  |  | 6 |
We estimated the fair value of each purchase right granted under our 1997 Employee Stock Purchase Plan, as amended, at the beginning of each new offering period using the Black-Scholes option pricing model. There were no new offering periods during the three months ended March 31, 2024. The followin g table summarizes the restricted stock unit activity (“RSUs”) for the three months ended March 31, 2024:
|  | Shares (in thousands) |  |  | Weighted-Average Grant Date Fair Value |
Outstanding at December 31, 2023 |  |  | 1,405 |  |  | $ | 4.43 |
Granted |  |  | 949 |  |  | $ | 2.16 |
Released |  |  | (125 | ) |  | $ | 2.56 |
Expired and forfeited |  |  | (256 | ) |  | $ | 3.85 |
Outstanding at March 31, 2024 |  |  | 1,973 |  |  | $ | 3.09 |
The fair value of RSUs i s estimated based on the closing market price of our common stock on the date of the grant. RSUs generally vest quarterly over a four-ye ar period. Stock-Based Compensation The following table summarize s stock-based compensation expense related to stock-based payment awards granted pursuant to all of our equity compensation arrangements (in thousands):
|  | Three Months Ended March 31, |  |
|  | 2024 |  |  | 2023 |  |
General and administrative |  | $ | 1,878 |  |  | $ | 3,532 |  |
Sales and marketing |  |  | 796 |  |  |  | 2,679 |  |
Research and development |  |  | 701 |  |  |  | 1,736 |  |
Total stock-based compensation expense |  | $ | 3,375 |  |  | $ | 7,947 |  |
As of March 31, 2024, ther e was $21.3 m illion of total unrecognized compensation cost related to non-vested, stock-based payment awards granted under all of our equity compensatio n plans and all non-plan option grants. Total unrecognized compensation cost will be adjusted for future changes in estimated forfeitures. We expect to recognize this compensation cost over a weighted-average period of three years.

X
- Definition The entire disclosure for an entity's employee compensation and benefit plans, including, but not limited to, postemployment and postretirement benefit plans, defined benefit pension plans, defined contribution plans, non-qualified and supplemental benefit plans, deferred compensation, share-based compensation, life insurance, severance, health care, unemployment and other benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 710 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//710/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 712 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//712/tableOfContent Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//715/tableOfContent Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//718/tableOfContent + Details
Name: | us-gaap_CompensationAndEmployeeBenefitPlansTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration