XML 44 R30.htm IDEA: XBRL DOCUMENT v3.25.0.1
Equity Incentive Plans (Tables)
12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
Summary of Stock Option Activity

The following table summarizes the stock option activity for the year ended December 31, 2024:

 

 

 

Outstanding Options

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

Average

 

 

 

Number of

 

 

Exercise

 

 

 

Shares

 

 

Price

 

Balance at December 31, 2023

 

 

24,575

 

 

$

7.06

 

Granted

 

 

8,158

 

 

$

2.20

 

Exercised

 

 

(485

)

 

$

2.47

 

Cancelled

 

 

(6,166

)

 

$

12.02

 

Balance at December 31, 2024

 

 

26,082

 

 

$

4.46

 

Summary of Restricted Stock Unit Activity

The following table summarizes the RSU activity for the year ended December 31, 2024:

 

 

 

Outstanding RSUs

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

Average

 

 

 

Number of

 

 

Grant Date

 

 

 

Shares

 

 

Fair Value

 

Balance at December 31, 2023

 

 

1,405

 

 

$

4.43

 

Granted

 

 

2,175

 

 

$

1.65

 

Released

 

 

(1,116

)

 

$

2.49

 

Forfeited

 

 

(483

)

 

$

3.69

 

Balance at December 31, 2024

 

 

1,981

 

 

$

2.35

 

Schedule of Options Exercisable, Vested or Expected to Vest

 

 

Years Ended December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

 

 

 

 

 

Weighted-

 

 

 

 

 

Weighted-

 

 

 

 

 

Weighted-

 

 

 

 

 

 

Average

 

 

 

 

 

Average

 

 

 

 

 

Average

 

 

 

 

 

 

Exercise

 

 

 

 

 

Exercise

 

 

 

 

 

Exercise

 

 

 

Options

 

 

Price

 

 

Options

 

 

Price

 

 

Options

 

 

Price

 

Exercisable at end of year

 

 

9,589

 

 

$

8.88

 

 

 

11,390

 

 

$

12.87

 

 

 

13,650

 

 

$

17.86

 

Options vested or expected to vest

 

 

26,082

 

 

$

4.46

 

 

 

24,575

 

 

$

7.06

 

 

 

20,184

 

 

$

14.82

 

 

Schedule of Exercise Prices and Weighted-average Remaining Contractual Lives for Options Outstanding

Exercise prices and weighted-average remaining contractual lives for the options outstanding as of December 31, 2024 were:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

 

 

Average

 

 

 

 

 

 

Average

 

 

Weighted-

 

 

 

 

 

Exercise

 

 

 

 

 

 

Remaining

 

 

Average

 

 

 

 

 

Price of

 

Outstanding

 

 

Range of

 

Contractual

 

 

Exercise

 

 

Options

 

 

Options

 

Options

 

 

Exercise Prices

 

Life (in years)

 

 

Price

 

 

Exercisable

 

 

Exercisable

 

 

5,241

 

 

$0.97 - $1.51

 

 

8.42

 

 

$

1.24

 

 

 

1,457

 

 

$

1.27

 

 

13,321

 

 

$1.52 - $2.28

 

 

8.65

 

 

 

1.90

 

 

 

2,683

 

 

 

1.93

 

 

3,826

 

 

$2.34 - $3.51

 

 

8.03

 

 

 

2.87

 

 

 

1,862

 

 

 

3.00

 

 

87

 

 

$3.66 - $5.49

 

 

8.62

 

 

 

3.94

 

 

 

35

 

 

 

4.14

 

 

20

 

 

$5.50 - $8.25

 

 

7.24

 

 

 

5.87

 

 

 

13

 

 

 

5.86

 

 

535

 

 

$9.66 - $14.49

 

 

4.98

 

 

 

12.01

 

 

 

498

 

 

 

12.00

 

 

1,394

 

 

$14.87 - $22.305

 

 

3.92

 

 

 

16.37

 

 

 

1,390

 

 

 

16.37

 

 

1,598

 

 

$23.00 - $34.50

 

 

2.92

 

 

 

25.96

 

 

 

1,591

 

 

 

25.94

 

 

60

 

 

$38.20 - $57.30

 

 

3.65

 

 

 

38.38

 

 

 

60

 

 

 

38.38

 

 

26,082

 

 

 

 

 

7.82

 

 

$

4.46

 

 

 

9,589

 

 

$

8.88

 

Summary of Stock-Based Compensation Expense related to Stock-Based Payment Awards

The following summarizes stock-based compensation expense related to stock-based payment awards pursuant to our equity compensation arrangements (in thousands):

 

 

 

December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

Research and development

 

$

1,856

 

 

$

6,505

 

 

$

10,025

 

General and administrative

 

 

7,138

 

 

 

16,846

 

 

 

19,552

 

Sales and marketing

 

 

3,968

 

 

 

9,503

 

 

 

13,403

 

Total stock-based compensation expense

 

$

12,962

 

 

$

32,854

 

 

$

42,980

 

Summary of Fair Value of Option Grant and ESPP Purchase Right on Grant Date Using Black-Scholes Option Pricing Model

We estimated the fair value of each option grant and ESPP purchase right on the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions:

Options:

 

 

 

December 31,

 

 

 

 

 

 

2024

 

 

2023

 

 

2022

 

Risk-free interest rate

 

 

4.5

%

 

 

3.7

%

 

 

3.3

%

Dividend yield

 

 

%

 

 

%

 

 

%

Volatility

 

 

80.1

%

 

 

68.1

%

 

 

62.0

%

Expected life (years)

 

 

6

 

 

6 to 10

 

 

 

6

 

 

ESPP:

 

 

 

December 31,

 

 

 

 

 

 

2024

 

 

2023

 

 

2022

 

Risk-free interest rate

 

 

4.9

%

 

 

5.3

%

 

 

3.2

%

Dividend yield

 

 

%

 

 

%

 

 

%

Volatility

 

 

95.3

%

 

 

99.6

%

 

 

83.8

%

Expected life (months)

 

 

6

 

 

 

6

 

 

 

6