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Stockholders' Equity (Tables) | 9 Months Ended
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Sep. 30, 2024
Equity [Abstract] |
Summary of Stock Options Activity | The activity for stock options under the Company’s stock plans for the nine months ended September 30, 2024 is as follows:
|  |  |  |  |  |  |  |  |  |  | Remaining |  |  |  |
|  |  |  |  |  |  |  |  |  |  | weighted- |  |  |  |
|  |  |  |  |  |  |  | Weighted- |  |  | average |  |  | Per share |
|  |  |  |  |  |  |  | average |  |  | contractual |  |  | average |
|  |  |  |  | Price per |  |  | exercise |  |  | terms |  |  | intrinsic |
|  | Options |  |  | share |  |  | price |  |  | (in years) |  |  | value |
Outstanding as of December 31, 2023 |  |  | 20,000 |  |  | $ | 83.30 |  |  | $ | 83.30 |  |  |  | 0.36 |  |  | $ | — |
Forfeited |  |  | (10,000 | ) |  |  | 83.30 |  |  |  | 83.30 |  |  |  |  |  |  |
Expired |  |  | (10,000 | ) |  |  | 83.30 |  |  |  | 83.30 |  |  |  |  |  |  |
Outstanding as of September 30, 2024 |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Vested and exercisable as of September 30, 2024 |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Vested and expected to vest as of September 30, 2024 |  |  | — |  |  | $ | — |  |  | $ | — |  |  |  | — |  |  | $ | — |
Summary of Restricted Stock Activity | Stock Awards activity for the nine months ended September 30, 2024 is summarized below:
|  |  |  |  |  |  |  |  |  |  | Weighted- |
|  |  |  |  |  |  |  |  |  |  | average |
|  |  |  |  |  |  |  |  |  |  | grant |
|  |  |  |  | Performance |  |  |  |  |  | date fair |
|  |  |  |  | and |  |  |  |  |  | value |
Restricted stock units |  | Time-based |  |  | time-based |  |  | Total |  |  | per share |
Unvested restricted stock units as of December 31, 2023 |  |  | 1,146,404 |  |  |  | 346,688 |  |  |  | 1,493,092 |  |  | $ | 14.67 |
Granted |  |  | 857,447 |  |  |  | 587,768 |  |  |  | 1,445,215 |  |  |  | 7.23 |
Vested |  |  | (389,244 | ) |  |  | — |  |  |  | (389,244 | ) |  |  | 18.03 |
Forfeited/canceled |  |  | (292,994 | ) |  |  | (314,925 | ) |  |  | (607,919 | ) |  |  | 14.26 |
Unvested restricted stock units as of September 30, 2024 (1) |  |  | 1,321,613 |  |  |  | 619,531 |  |  |  | 1,941,144 |  |  | $ | 8.65 |
Unvested and expected to vest restricted stock units outstanding as of September 30, 2024 |  |  |  |  |  |  |  |  | 1,499,262 |  |  | $ | 8.69 |
(1) Outstanding restricted stock units are based on the maximum payout of the targeted number of shares.
Summary of Stock-based Compensation Expense | Stock-based compensation expense recognized for the three and nine months ended September 30, 2024 and 2023, was as follows:
|  | Three months ended |  |  | Nine months ended |
|  | September 30, |  |  | September 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Stock-based compensation expense by type of award: |  |  |  |  |  |  |  |  |  |  |  |
Restricted stock units and restricted stock awards |  | $ | 1,362 |  |  | $ | 1,682 |  |  | $ | 5,367 |  |  | $ | 8,164 |
Employee stock purchase plan |  |  | 112 |  |  |  | 97 |  |  |  | 337 |  |  |  | 320 |
Total stock-based compensation expense |  | $ | 1,474 |  |  | $ | 1,779 |  |  | $ | 5,704 |  |  | $ | 8,484 |
For the three and nine months ended September 30, 2024 and 2023, respectively, stock-based compensation expense recognized under ASC 718, included in cost of revenue, research and development expense, sales and marketing expense, and general and administrative expense was as follows:
|  | Three months ended |  |  | Nine months ended |
|  | September 30, |  |  | September 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Cost of revenue |  | $ | 123 |  |  | $ | 164 |  |  | $ | 448 |  |  | $ | 401 |
Research and development |  |  | 68 |  |  |  | 358 |  |  |  | 453 |  |  |  | 1,192 |
Sales and marketing |  |  | 363 |  |  |  | (255 | ) |  |  | 1,221 |  |  |  | 1,177 |
General and administrative |  |  | 920 |  |  |  | 1,512 |  |  |  | 3,582 |  |  |  | 5,714 |
Total stock-based compensation expense |  | $ | 1,474 |  |  | $ | 1,779 |  |  | $ | 5,704 |  |  | $ | 8,484 |

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