Stock-Based Awards (Tables)

3 Months Ended

Mar. 31, 2025

Stock-Based Awards

Summary of assumptions used to determine fair value of stock options granted

	Three Months Ended
	March 31,
	2025		2024
Risk-free interest rate	4.40	%	3.81	%
Expected term (in years)	6.3		6.0
Expected volatility	83.25	%	81.81	%
Expected dividend yield	0	%	0	%

Summary of stock option activity

				Weighted
		Weighted		Average
		Average		Remaining	Aggregate
	Number	Exercise		Contractual	Intrinsic
(In thousands, except share and per share data and years)	of Shares	Price		Term	Value
				(in years)
Outstanding as of December 31, 2024	6,721,967	$	11.12	6.8	$	2,968
Granted	3,858,735		2.40
Forfeited and cancelled	(30,500)		9.68
Outstanding as of March 31, 2025	10,550,202	$	8.00	7.9	$	742
Options vested and expected to vest as of March 31, 2025	10,550,202	$	8.00	7.9	$	742
Options exercisable as of March 31, 2025	4,405,247	$	14.02	5.8	$	372

Summary of restricted stock units activity

		Weighted
		Average
		Grant Date		Aggregate
	Number	Fair Value		Intrinsic
(In thousands, except share and per share data)	of Shares	Per Share		Value
Outstanding as of December 31, 2024	2,276,151	$	5.12
Granted	1,669,609		2.41
Vested	(525,753)		8.89	$	1,230
Forfeited and cancelled	(9,150)		9.42
Outstanding as of March 31, 2025	3,410,857	$	3.20

Summary of stock-based compensation expense

	Three Months Ended
	March 31,
(In thousands)	2025		2024
Cost of revenue	$	219	$	252
Research and development		1,185		(29)
General and administrative		2,131		1,866
Total stock-based compensation expense	$	3,535	$	2,089