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Equity Incentive Plans (Tables)
9 Months Ended
Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity
Stock option activity for the nine months ended September 30, 2023 is as follows:
Options Outstanding
Weighted-Average Exercise Price
Balance at December 31, 202210,214,430 $13.90 
Options granted3,289,469 4.39 
Options exercised(37,234)2.48 
Options forfeited
(844,625)9.65 
Balance at September 30, 2023
12,622,040 $11.74 
Vested and exercisable, September 30, 2023
6,680,980 $8.82 
Schedule of Restricted Stock Unit Activity
Restricted Stock Unit activity for the nine months ended September 30, 2023 is as follows:
Restricted Stock Units
Weighted-Average
Grant Date
Fair Value
Balance at December 31, 2022
1,650,976 $18.23 
Granted2,646,780 4.50 
Vested
(465,265)18.46 
Forfeited
(510,322)7.86 
Balance at September 30, 2023
3,322,169 $8.85 
Schedule of Components of Stock-based Compensation Expensed
The following table summarizes the components of stock-based compensation recognized in the Company’s condensed consolidated statements of operations and comprehensive loss (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
Cost of revenue$392 $299 $1,127 $784 
Research and development2,242 2,395 7,523 6,788 
Selling, general and administrative5,700 6,379 18,160 17,941 
Total stock-based compensation$8,334 $9,073 $26,810 $25,513