Equity Incentive Plans (Tables)

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

Stock option activity for the six months ended June 30, 2024 is as follows:

	Options Outstanding			Weighted-Average Exercise Price
Balance at December 31, 2023		11,945,032		$	11.89
Options granted		3,094,537			1.79
Options forfeited		(874,115	)		8.57
Balance at June 30, 2024		14,165,454		$	9.89
Vested and exercisable, June 30, 2024		7,687,908		$	8.74

Schedule of Stock Option Valuation Assumptions

The following assumptions were used to determine the grant date fair value of $1.16 to $1.27 and $2.80 to $3.02 for the 2024 and 2023 Market Condition Options, respectively:

	2024			2023
Risk-free interest rate		4.07	%		3.94	%
Expected volatility		84.80	%		83.10	%
Expected dividend yield		—			—
Strike price	$	1.77		$	4.59

Schedule of Restricted Stock Unit Activity

Restricted stock unit activity for the six months ended June 30, 2024 is as follows:

	Number of Shares			Weighted-Average Grant Date Fair Value
Balance at December 31, 2023		3,680,076		$	7.49
Granted		2,813,076			1.79
Vested		(838,948	)		9.97
Forfeited		(527,831	)		4.13
Balance at June 30, 2024		5,126,373		$	4.30

Schedule of Components of Stock-based Compensation Expensed

The following table summarizes the components of stock-based compensation recognized in the Company’s unaudited condensed consolidated statements of operations and comprehensive loss (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Cost of revenue	$	389	$	406	$	787	$	735
Research and development		2,115		2,733		4,254		5,281
Selling, general and administrative		5,161		6,613		10,204		12,460
Total stock-based compensation	$	7,665	$	9,752	$	15,245	$	18,476