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Stockholders' Equity (Tables) | 12 Months Ended
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Dec. 31, 2022
Equity [Abstract] |
Schedule of Shares Reserved for Future Issuance | The Company has reserved shares of common stock for future issuances as follows:
| December 31,
| 2022 |  | 2021
Common stock options issued and outstanding | 2,495,528 |  |  | 2,145,131 |
Common stock restricted stock units issued and outstanding | 998,473 |  |  | 442,428 |
Common stock available for future grants | 3,765,706 |  |  | 3,751,115 |
Common stock available for ESPP | 1,212,109 |  |  | 932,458 |
Total | 8,471,816 |  |  | 7,271,132 |
Schedule of Summary of Stock Option Activity | Activity under the Stock Plans is set forth below:
|  | Outstanding Options
|  | Number of Shares |  | Weighted Average Exercise Price
Balance, December 31, 2020 |  | 2,923,403 |  |  | $ | 4.72 |
Options granted |  | 421,200 |  |  | 43.79 |
Options exercised |  | (1,065,567) |  |  | 1.77 |
Options canceled |  | (133,905) |  |  | 11.44 |
Balance, December 31, 2021 |  | 2,145,131 |  |  | $ | 13.44 |
Options granted |  | 765,900 |  |  | 24.09 |
Options exercised |  | (297,463) |  |  | 2.13 |
Options canceled |  | (118,040) |  |  | 28.30 |
Balance, December 31, 2022 |  | 2,495,528 |  |  | $ | 17.35 |
Schedule of Options Vested and Expected to Vest |
| December 31, 2022
| Number of Shares |  | Weighted Average Exercise Price |  | Weighted Average Contractual Life (in Years)
Options vested | 1,107,541 |  | $ | 13.67 |  |  | 7.12
Options vested and expected to vest | 2,495,528 |  | $ | 17.35 |  |  | 7.86
Schedule of Activity with Respect to Restricted Stock Units | Activity with respect to restricted stock units was as follows:
| Number of Shares Underlying Outstanding Restricted Stock |  | Weighted Average Grant Date Fair Value
Unvested, January 1, 2021 | — |  |  | $ | — |
Granted | 503,110 |  |  | 42.49 |
Vested | (40,908) |  |  | 43.40 |
Canceled | (19,774) |  |  | 43.60 |
Unvested, December 31, 2021 | 442,428 |  |  | 42.36 |
Granted | 937,400 |  |  | 23.63 |
Vested | (251,133) |  |  | 35.09 |
Canceled | (130,222) |  |  | 33.85 |
Unvested, December 31, 2022 | 998,473 |  |  | $ | 27.72 |
Schedule of Stock Options Valuation Assumptions | The estimated grant date fair values of employee stock options were calculated using the following assumptions:
| Years Ended December 31,
| 2022 |  | 2021
Weighted average expected term (in years) | 6.0 - 6.1 |  | 5.0 - 6.3
Volatility | 44.5% - 44.8% |  | 44.0% - 44.5%
Risk-free interest rate | 1.6% - 3.6% |  | 0.6% - 1.0%
Dividend yield | — |  | —
Schedule of Compensation Expense Valuation Assumptions | Compensation expense is calculated using the fair value of the employees' purchase rights under the Black-Scholes model.
| Years Ended December 31,
| 2022 |  | 2021
Weighted average expected term (in years) | 0.5 |  | 0.5
Volatility | 37.8% - 42.8% |  | 36.1% - 42%
Risk-free interest rate | 0.7% - 3.1% |  | 0.1%
Dividend yield | — |  | —
Schedule of Total Stock-Based Compensation | Stock-based compensation expense is reflected in the statements of operations and comprehensive loss as follows (in thousands):
| Years Ended December 31,
| 2022 |  | 2021
Cost of goods sold | $ | 686 |  |  | $ | 587 |
Research and development | 2,190 |  |  | 1,278 |
Selling, general and administrative | 13,569 |  |  | 8,665 |
Total | $ | 16,445 |  |  | $ | 10,530 |
The above stock-based compensation expense related to the following equity-based awards:
| Years Ended December 31,
| 2022 |  | 2021
Stock options and restricted stock units | $ | 15,807 |  |  | $ | 7,959 |
ESPP | 638 |  |  | 2,571 |
Total | $ | 16,445 |  |  | $ | 10,530 |

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