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Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-based Payment Arrangement, Option, Activity
A summary of the status of the 2015 Plan and 2021 Plan as of December 31, 2024 and September 30, 2025, and changes during the nine month period ended September 30, 2025, is presented below:
Options Outstanding
Number of OptionsWeighted-Average Exercise PriceWeighted-Average Remaining Contractual Term
(in years)
Aggregate Intrinsic Value
(in thousands)
Outstanding at December 31, 2024557,362 $70.84 5.78$221 
Granted— — 
Exercised(2,756)1.48 13 
Forfeited(5,940)68.96 
Cancelled(53,225)81.91 
Outstanding at September 30, 2025495,441 $69.99 5.38$157 
Vested and exercisable at September 30, 2025420,740 $75.75 5.14$157 
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions
The following table summarizes the weighted-average assumptions used in estimating the fair value of the 2021 ESPP grants for the following offering periods presented, using the Black Scholes option-pricing model:
Offering Period - May 3, 2025 to November 2, 2025
Offering Period - November 3, 2024 to May 2, 2025
Offering Period - May 3, 2024 to November 2, 2024Offering Period - November 3, 2023 to May 2, 2024
Risk-free interest rate4.26 %4.30 %5.41 %5.45 %
Dividend yield— — — — 
Volatility37.13 %37.13 %37.13 %43.12 %
Expected lives (years)0.50.50.50.5
Schedule of Share-based Payment Arrangement, Restricted Stock Unit, Activity
RSU activity during the nine months ended September 30, 2025 was as follows:
Number of SharesWeighted-Average Grant Date Fair Value per Share
Unvested at December 31, 2024
464,165 $23.61 
Granted405,648 6.06 
Vested(196,466)23.20 
Forfeited(78,044)18.68 
Unvested at September 30, 2025
595,303 $12.44 
Schedule of Share-Based Payment Arrangement, Performance Shares, Activity
PSU activity during the nine months ended September 30, 2025 was as follows:
Target Number of SharesWeighted-Average Grant Date Fair Value per Share
Unvested at December 31, 2024
45,870 $33.17 
Granted77,409 6.01 
Vested— — 
Forfeited(29,499)47.15 
Unvested at September 30, 2025
93,780 $6.35 
Schedule of Stock-based Compensation Expense
Stock-based compensation expense, recognized as selling, general, and administrative expense in the condensed consolidated statements of operations and comprehensive loss for the three and nine months ended September 30, 2025 and 2024, was comprised of the following:
Three Months Ended September 30,Nine Months Ended September 30,
(in thousands)2025202420252024
Stock-based compensation, net of amounts capitalized$1,533 $2,620 $5,863 $8,893 
Capitalized stock-based compensation23 54 92 228 
Total stock-based compensation$1,556 $2,674 $5,955 $9,121