Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2023

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of stock option activity

	Outstanding Options and RSUs
					Weighted-
			Weighted-		Average
	Shares	Number of	Average		Remaining	Aggregate
	Available for	Shares	Exercise		Contractual	Intrinsic
(in thousands, except for contractual life and exercise price)	Grant	Outstanding	Price		Life	Value
					(in years)
Balance at December 31, 2022	3,263	5,300	$	21.11	4.84	$	131,385
Additional shares authorized	3,500	—
Options granted	(317)	317	$	44.17
Options exercised	—	(169)	$	13.63
RSUs granted	(5,369)	—
RSUs forfeited/cancelled	250	—
Balance at March 31, 2023	1,327	5,448	$	22.69	4.93	$	199,854
Exercisable at March 31, 2023		4,541	$	13.25	4.15	$	194,651
Vested and expected to vest at March 31, 2023		5,392	$	22.21	4.89	$	199,545

Restricted stock units

		Weighted-
		Average
		Grant Date
(in thousands, except for grant date fair value)	Shares	Fair Value
Balance at December 31, 2022	6,836	$	57.12
Granted	5,369	$	44.75
Vested	(1,599)	$	57.36
Cancelled/forfeited	(250)	$	51.95
Balance at March 31, 2023	10,356	$	50.75

Summary of stock-based compensation expenses

The following tables present the effect of employee and non-employee stock-based compensation expense on selected statements of operations line items for the three months ended March 31, 2023 and 2022.

	Three months ended March 31,
	2023						2022
	Employee		Non-Employee		Total		Employee		Non-Employee		Total
	(in thousands)
Cost of revenues	$	2,554	$	2	$	2,556	$	1,716	$	—	$	1,716
Research and development		14,315		543		14,858		9,006		415		9,421
Selling, general and administrative		22,959		322		23,281		23,875		75		23,950
Total	$	39,828	$	867	$	40,695	$	34,597	$	490	$	35,087

Employee stock options

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of assumptions used in valuation of fair value

	Three months ended March 31,
	2023					2022
Expected term (years)	5.20		—	6.00		5.12		—	10.00
Expected volatility	68.61	%	—	70.07	%	55.91	%	—	62.30	%
Expected dividend rate				0.00	%				0.00	%
Risk-free interest rate	3.41	%	—	3.58	%	1.62	%	—	1.78	%