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Stock-Based Compensation
 9 Months Ended
Sep. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation
6. Stock-Based Compensation
Share-Based Compensation Expense
The following table presents the details of the Company’s share-based compensation expense (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
General and administrative$678 $632 $2,083 $2,592 
Research and development424 710 1,358 1,979 
Sales and marketing144 190 454 537 
Cost of sales161 — 508 — 
Total stock-based compensation$1,407 $1,532 $4,403 $5,108 
Summary of Stock Option Activity
The following table summarizes the stock option activity for the nine months ended September 30, 2025:
Options Outstanding
Number of
Options		Weighted-
Average
Exercise
Price Per
Share		Weighted-
Average
Remaining
Contractual
Life (years)		Aggregate
Intrinsic
Value
(In thousands)
Balance—December 31, 20241,521,857$6.04 5.9$1,507 
Options granted—
Options exercised(82,823)$4.26 $194 
Options cancelled/forfeited(14,144)$7.20 
Balance—September 30, 20251,424,890$6.13 5.2$4,569 
Options exercisable—September 30, 20251,383,891$6.07 5.1$4,518 
The total grant date fair value of options vested was $0.2 million and $0.3 million during the three months ended September 30, 2025 and 2024, respectively, and $0.5 million and $0.9 million during the nine months ended September 30, 2025 and 2024, respectively.
No options were granted in the three and nine months ended September 30, 2025 or 2024, respectively.
As of September 30, 2025, there was $0.2 million of total unrecognized stock-based compensation expense related to unvested options which is expected to be recognized over a weighted-average period of 0.45 years. Stock-based compensation cost for options capitalized within inventory at September 30, 2025 and 2024 was not material.
2016 Employee Stock Purchase Plan
In January 2025, there was an increase of 220,596 shares reserved for issuance under the Company’s Employee Stock Purchase Plan (ESPP) pursuant to the terms of the ESPP. The Company had 1,191,215 shares available for future issuance under the ESPP as of September 30, 2025. Employees did not purchase any shares during the three months ended September 30, 2025 and 2024, respectively. Employees purchased 61,181 shares for $254,000 during the nine months ended September 30, 2025. Employees purchased 37,696 shares for $241,000 during the nine months ended September 30, 2024.
Restricted Stock Units
The following table summarizes restricted stock units (RSUs) activity for the nine months ended September 30, 2025:
RSUs Outstanding
Number of
Restricted Stock
Units		Weighted-
Average
Grant Date
Fair Value Per
Share
Balance—December 31, 2024987,965$7.89 
Granted996,561$5.80 
Vested(553,328)$7.24 
Cancelled/forfeited(23,674)$6.96 
Balance—September 30, 20251,407,524$6.68 
The fair value of RSUs is determined on the date of grant based on the market price of the Company’s common stock on that date.
As of September 30, 2025, there was $8.2 million of unrecognized stock-based compensation expense related to RSUs to be recognized over a weighted-average period of 2.7 years. Stock-based compensation cost related to RSUs capitalized within inventory at September 30, 2025 and 2024 was not material.