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Stock Incentive Plan and Stock-based Compensation (Tables)
12 Months Ended
Dec. 31, 2023
Stock Incentive Plan and Stock-based Compensation  
Summary of changes in stock options granted

The following table summarizes stock option activity for the year ended December 31, 2023:

    

    

    

Weighted-

Weighted-

Average

Average

Remaining

Number of

Exercise

Contractual

    

Awards

    

Price

    

Term

Awards outstanding—December 31, 2022

 

6,460,947

$

30.90

 

7.86

Awards issued

 

440,294

$

34.80

 

  

Awards exercised

 

(371,896)

$

12.00

 

  

Awards forfeited

 

(212,923)

$

25.25

 

  

Awards outstanding—December 31, 2023

 

6,316,422

$

32.47

 

7.17

Summary of changes in SARs granted

The following table summarizes SARs activity for the year ended December 31, 2023:

    

    

    

Weighted-

Weighted-

Average

Average

Remaining

Number of

Exercise

Contractual

    

Awards

    

Price

    

Term

Awards outstanding—December 31, 2022

 

43,208

$

9.38

 

6.32

Awards issued

 

$

 

  

Awards exercised

 

$

 

  

Awards forfeited

 

$

 

  

Awards outstanding—December 31, 2023

 

43,208

$

9.38

 

5.32

Summary of changes in RSUs granted

The following table summarizes RSU activity for the year ended December 31, 2023:

    

    

Weighted-

Average

Number of

Grant Date

    

Awards

    

Fair Value

Awards outstanding—December 31, 2022

 

60,000

$

29.03

Awards issued

 

300,000

$

31.78

Awards vested

 

(30,000)

$

29.03

Awards forfeited

 

$

Awards outstanding—December 31, 2023

 

330,000

$

31.53

Summary of assumptions used to value awards

As of

    

December 31, 

    

December 31, 

    

2023

    

2022

Dividend yield

 

0.00

%  

0.00

%

Expected volatility

 

74.87 - 80.78

%  

72.57 - 77.08

%

Risk-free interest rate

 

3.42 - 4.62

%  

1.99 - 4.05

%

Lack of marketability discount

 

0.00

%  

0.00

%

Expected term (years)

 

2.26 - 10.77

 

3.1 - 6.3

Summary of stock-based compensation expense

Year Ended December 31, 

    

2023

    

2022

2021

Research and development expense

$

3,962

$

2,614

$

2,121

Sales and marketing expense

 

5,148

 

3,886

 

3,103

General and administrative expense

 

22,096

 

20,405

 

10,881

$

31,206

$

26,905

$

16,105