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Equity Incentive Plans (Tables) | 3 Months Ended
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Mar. 31, 2022
Share-based Payment Arrangement [Abstract] |
Summary of Stock Option Activity |
|  | Number of Shares |  |  | Weighted-Average Exercise Price |  |  | Weighted-Average Contractual Term (in years) |  |  | Average Intrinsic Value (in thousands) |
Balances as of December 31, 2021 |  |  | 4,996,945 |  |  | $ | 6.05 |  |  |  | 7.6 |  |  | $ | 58,420 |
Grants |  |  | 1,328,000 |  |  |  | 17.43 |  |  |  |  |  |  |
Forfeited/cancelled |  |  | (294,402 | ) |  |  | 0.85 |  |  |  |  |  |  |
Exercised/released |  |  | (85,644 | ) |  |  | 0.93 |  |  |  |  |  |  |
Balances as of March 31, 2022 |  |  | 5,944,899 |  |  | $ | 8.92 |  |  |  | 8.3 |  |  | $ | 25,271 |
Vested and exercisable as of March 31, 2022 |  |  | 2,069,638 |  |  | $ | 3.55 |  |  |  | 6.7 |  |  | $ | 17,040 |
Vested and expected to vest as of March 31, 2022 |  |  | 5,914,899 |  |  | $ | 8.97 |  |  |  | 8.3 |  |  | $ | 24,927 |
Summary of Weighted Average Valuation Assumptions Used to Estimate Fair Value of Employee Stock Options |
|  | Three Months Ended March 31, |
|  | 2022 |  | 2021 |
Expected term (in years) |  | 5.38 – 6.94 |  | 5.00 – 6.07 |
Expected volatility |  | 58.75% – 60.12% |  | 56.75% – 57.69% |
Risk-free interest rate |  | 1.34% – 2.40% |  | 0.48% – 0.81% |
Dividend yield |  | – |  | – |
Share-based Payment Arrangement, Restricted Stock Unit, Activity | The following table summarizes restricted share award activity under the 2021 Plan:
|  | Number of Shares |  |  | Weighted-Average Grant Date Fair Value Per Share |
Outstanding, December 31, 2021 |  |  | 53,250 |  |  | $ | 22.91 |
Grants |  |  | 607,823 |  |  |  | 17.15 |
Forfeited/cancelled |  |  | (4,500 | ) |  |  | 17.95 |
Vested |  |  | — |  |  |  | — |
Outstanding, March 31, 2022 |  |  | 656,573 |  |  | $ | 17.60 |
Summary of Stock-Based Compensation Expense by Function | The following is a summary of stock-based compensation expense by function (in thousands):
|  | Three Months Ended March 31, |  |
|  | 2022 |  |  | 2021 |  |
Cost of goods sold |  | $ | 36 |  |  | $ | 7 |  |
Research and development |  |  | 343 |  |  |  | 37 |  |
Selling, general and administrative |  |  | 2,595 |  |  |  | 233 |  |
Total stock-based compensation expense |  | $ | 2,974 |  |  | $ | 277 |  |

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- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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