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Equity Incentive Plans (Tables)
9 Months Ended
Sep. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity

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

 

Schedule of Restricted Stock Unit Activity

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

 

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 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