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Equity Incentive Plans (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

Stock option activity for the year ended December 31, 2024 is as follows:

		Options Outstanding				Weighted-Average Exercise Price				Weighted-Average Remaining Term (Years)				Aggregate Intrinsic Value (in thousands)
Balance at December 31, 2023			11,945,032			$	11.89				6.9			$	454
Options granted			3,632,057				1.81
Options exercised			(6,502	)			—
Options forfeited			(2,372,355	)			8.13
Balance at December 31, 2024			13,198,232			$	2.86				6.3			$	4,573
Vested and exercisable, December 31, 2024			7,654,143			$	3.34				5.8			$	2,239

Schedule of Stock Option Valuation Assumptions

The fair value of stock options granted to employees, directors, and non-employees that are calculated using the Black-Scholes option pricing model using the following assumptions:

		Year Ended December 31,
		2024				2023
Risk-free interest rate		3.5% - 4.7%				3.4% - 4.7%
Expected volatility		82.0% - 88.8%				76.0% - 83.5%
Expected term (in years)		5.77 - 6.08				5.77 - 6.08
Expected dividend yield			—				—

For 2024 Market Condition Options, the following assumptions were used to determine the grant date fair value:

Risk-free interest rate			4.07	%
Expected volatility			84.80	%
Expected dividend yield			—
Strike price		$	1.77
Weighted-average grant date fair value		$	1.22

For 2023 Market Condition Options, the following assumptions were used to determine the grant date fair value:

		Original Assumptions				Modified Assumptions
Risk-free interest rate			3.94	%			3.89	%
Expected volatility			83.10	%			81.92	%
Expected dividend yield			—				—
Strike price		$	4.59			$	2.00
Stock price hurdle		$	6.89			$	3.00
Weighted-average grant date fair value		$	2.91			$	1.40

Schedule of RSU Activity

RSU activity for the year ended December 31, 2024 is as follows:

		Number of Shares				Weighted-Average Grant Date Fair Value
Balance at December 31, 2023			3,680,076			$	7.49
Granted			3,012,793				1.80
Vested			(1,078,789	)			8.67
Forfeited			(1,163,639	)			4.05
Balance at December 31, 2024			4,450,441			$	4.26

Schedule of Employee Stock Purchase Plan Valuation Assumptions

The fair value of the ESPP shares is estimated using the Black-Scholes option pricing model, based on the following assumptions:

		Year Ended December 31,
		2024				2023
Risk-free interest rate		4.4% - 5.4%				5.3% - 5.4%
Expected volatility		48.6% - 66.3%				85.7% - 97.3%
Expected term (in years)			0.5				0.5
Expected dividend yield			—				—

Schedule of Components of Stock-based Compensation Expensed

The following table summarizes the components of stock-based compensation recognized in the Company’s consolidated statements of operations and comprehensive loss (in thousands):

		Year Ended December 31,
		2024				2023
Cost of revenue		$	1,594			$	1,490
Research and development			8,533				9,709
Selling, general and administrative			18,080				23,225
Total stock-based compensation		$	28,207			$	34,424

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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.

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