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Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Stock-based Compensation Expense

The Company recorded stock-based compensation expense in the following expense categories in its accompanying condensed consolidated statements of operations and comprehensive loss:

		Year Ended December 31,
(in thousands)		2024				2023
Cost of sales		$	141			$	125
Research and development			1,231				648
Sales and marketing			2,104				1,387
General and administrative			4,245				1,648
Total stock-based compensation(1)		$	7,721			$	3,808

(1)A portion of the stock-based compensation in the table above pertains to Incentive Stock Options, which are nondeductible and the balance that is related to stock-based compensation is offset by valuation allowance. Therefore, we have excluded the income tax effect associated with the stock-based compensation in the calculation above.

Schedule of Stock Option Activity

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

		Number of shares				Weighted average exercise price per share				Weighted average remaining contractual term (years)				Aggregate intrinsic value (in 000’s)
Outstanding at December 31, 2023			4,872,527			$	3.64				6.10
Granted			2,786,951			$	1.49
Exercised			(789,097	)		$	0.34
Forfeited/expired			(1,467,291	)		$	8.31
Outstanding at December 31, 2024			5,403,090			$	1.74				7.18			$	581
Exercisable at December 31, 2024			2,630,187			$	1.63				4.83			$	568

Schedule of Fair Value of Each Stock Option Estimated Using Weighted Average Assumptions

The fair value of each stock option was estimated on the date of grant using the weighted-average assumptions in the table below:

		December 31, 2024				December 31, 2023
Expected volatility			72.4	%			68.1	%
Risk-free interest rate			3.5	%			4.1	%
Expected term (in years)			6.0				6.0
Expected dividend yield			—	%			—	%

Schedule of RSU Activity

The following table summarizes RSU activity for the 2023 Plan for the year ended December 31, 2024:

		Number of shares				Weighted average grant date fair value per share
Outstanding at December 31, 2023			872,037			$	11.27
Granted			2,557,692			$	1.40
Vested			(1,088,384	)		$	4.18
Forfeited/expired			(237,399	)		$	6.26
Outstanding at December 31, 2024			2,103,946			$	3.50

Schedule of PSU Activity

The following table summarizes the PSU activity for the 2023 Plan for the year ended December 31, 2024:

		Number of shares				Weighted average grant date fair value per share
Outstanding at December 31, 2023			—			$	—
Granted			1,940,602			$	1.58
Vested			—			$	—
Forfeited			(180,554	)		$	1.60
Outstanding at December 31, 2024			1,760,048			$	1.58

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