Equity Incentive Plans

9 Months Ended

Sep. 30, 2025

Share-Based Payment Arrangement [Abstract]

EQUITY INCENTIVE PLANS

As of September 30, 2025, there are 17,785,881 shares of Class A common stock reserved for issuance under the 2020 Equity Incentive Plan, 3,183,434 shares of which are available for issuance in connection with grants of future awards.

Stock Options

Stock option activity for the nine months ended September 30, 2025 is as follows:


	Options Outstanding			Weighted-Average Exercise Price
Balance at December 31, 2024		13,198,232		$	2.86
Options granted		937,366			2.18
Options exercised		(22,717	)		2.03
Options forfeited		(578,011	)		6.67
Balance at September 30, 2025		13,534,870		$	2.74
Vested and exercisable, September 30, 2025		8,272,121		$	3.18

Restricted Stock Units

Restricted stock unit activity for the nine months ended September 30, 2025 is as follows:


	Number of Shares			Weighted-Average Grant Date Fair Value
Balance at December 31, 2024		4,450,441		$	4.26
Granted		1,298,983			2.29
Vested		(2,108,601	)		5.41
Forfeited		(369,484	)		2.89
Balance at September 30, 2025		3,271,339		$	2.89

In connection with the vesting of restricted stock units, the Company withheld shares of Class A common stock to satisfy tax withholding and remittance obligations. As of September 30, 2025, the Company withheld 359,664 shares of Class A common stock, which were retired, for $0.8 million.

Employee Stock Purchase Plan

A total of 2,138,712 shares of Class A common stock are reserved for issuance under the employee stock purchase plan (ESPP) as of September 30, 2025. During the nine months ended September 30, 2025, 119,484 shares of Class A common stock were issued under the ESPP.

Stock-Based Compensation

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 September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Cost of revenue	$	116	$	402	$	374	$	1,189
Research and development		1,360		2,127		4,809		6,381
Selling, general and administrative		2,117		3,994		6,945		14,198
Total stock-based compensation	$	3,593	$	6,523	$	12,128	$	21,768