Equity Incentive Plan (Tables)

6 Months Ended

Jun. 30, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

Stock option activity under the Company’s 2009 Equity Incentive Plan is set forth below (in thousands,

except share and per share amounts):

	Shares Available for Grant	Number of Options	Awards Weighted- Average Exercise Price	Weighted- Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value
Balance at December 31, 2024 ...	1,079,492	8,537,210	$4.72	7.96	$68,256
Authorized .......................................	1,000,000	—	$—
Options granted ..............................	(1,418,628)	485,719	$13.10
Options exercised ...........................	—	(267,396)	$5.35
Options canceled ............................	676,551	(231,578)	$4.99
Balance at June 30, 2025 .............	1,337,415	8,523,955	$5.17	7.68	$72,526
Vested and exercisable, June 30, 2025 ..............................................		3,583,827	$5.23	6.49	$30,427
Vested and expected to vest, June 30, 2025 ..............................		8,523,955	$5.17	7.68	$72,526

Schedule of Stock-Based Compensation

The Company estimated the fair value of stock options using the Black-Scholes option-pricing model

based on the following assumptions:

	Three Months Ended June 30,		Six Months Ended June 30,
	2025	2024	2025	2024
Expected life (in years) ........................	6.0	5.6	6.0	5.6
Expected volatility .................................	56.1%-56.6%	53.7%-53.8%	55.0%-56.6%	53.7%-53.8%
Risk-free interest rate ...........................	4.2%	4.4%	4.1%	4.4%
Dividend yield ........................................	–%	–%	n/a	–%

Schedule of Stock-Based Compensation Expense

Total stock-based compensation expense is as follows (in thousands):

	Three Months Ended June 30,		Six Months Ended June 30,
	2025	2024	2025	2024
Cost of revenue ...............................................	$45	$78	$102	$160
Research and development ..........................	381	486	928	1,003
Selling, general and administrative ..............	1,827	2,076	3,715	4,200
Total stock-based compensation expense .	$2,253	$2,640	$4,745	$5,363