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Stockholders' Equity (Tables)
12 Months Ended
Dec. 31, 2021
Equity [Abstract]  
Schedule of Shares Reserved for Future Issuance
The Company has reserved shares of common stock for future issuances as follows:
December 31,
20212020
Common stock options issued and outstanding
2,145,131 2,923,403 
Common stock restricted stock units issued and outstanding
442,428 — 
Common stock available for future grants
3,751,115 3,233,794 
Common stock available for ESPP932,458 720,000 
Total7,271,132 6,877,197 
Schedule of Summary of Stock Option Activity
Activity under the Stock Plans is set forth below:
Outstanding Options
Number of SharesWeighted Average Exercise Price
Balance, December 31, 20193,279,324 $1.66 
Options granted
1,466,071 7.73 
Options exercised
(1,745,040)1.55 
Options canceled
(76,952)3.55 
Balance, December 31, 20202,923,403 $4.72 
Options granted
421,200 43.79 
Options exercised
(1,065,567)1.77 
Options canceled
(133,905)11.44 
Balance, December 31, 20212,145,131 $13.44 
Schedule of Options Vested and Expected to Vest
December 31, 2021
Number of Shares
Weighted Average Exercise Price
Weighted Average Contractual Life (in Years)
Options vested751,752$7.91 7.13
Options vested and expected to vest2,145,131$13.44 8.15
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 StockWeighted Average Grant Date Fair Value
Unvested, January 1, 2021— $— 
Granted503,110 42.49 
Vested
(40,908)43.40 
Canceled
(19,774)43.60 
Unvested, December 31, 2021442,428 $42.36 
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,
20212020
Weighted average expected term (in years)
5.0 - 6.3
5.0 - 6.1
Volatility
44.0% - 44.5%
40.0% - 44.7%
Risk-free interest rate
0.6% - 1.0%
0.2% - 1.7%
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.
Year EndedYear Ended
December 31, 2021December 31, 2020
Weighted average expected term (in years)0.50.6
Volatility
36.1% - 42%
67.7% - 68.2%
Risk-free interest rate0.1%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,
20212020
Cost of goods sold$587 

$39 
Research and development1,278 

398 
Selling, general and administrative8,665 2,760 
Total$10,530 $3,197 
The above stock-based compensation expense related to the following equity-based awards:
Years Ended December 31,
20212020
Stock options and restricted stock units$7,959 $2,055 
ESPP2,571 1,142 
Total$10,530 $3,197