Share-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Common Stock Reserved for Future Issuance

The Company has the following shares of common stock reserved for future issuance, on an as-if converted basis:

	As of March 31, 2025	As of December 31, 2024
Warrants to purchase common stock	203,179	203,179
Outstanding Private Placement Warrants	492,444	492,444
Stock options issued and outstanding under 2018 Plan	467,853	468,722
Awards available for grant under 2022 Plan(1)	393,180	55,353
RSUs issued and outstanding under 2022 Plan	610,600	839,958
Shares available for grant under 2022 ESPP	504,440	504,440
Shares available for grant under Inducement Plan	100,000	—
Total shares of common stock reserved	2,771,696	2,564,096

(1) To the extent outstanding options granted under the 2018 Plan are cancelled, forfeited, or otherwise terminated without being exercised and would have been returned to the share reserve under the 2018 Plan, the number of shares of common stock underlying such awards will be available for future awards under the 2022 Plan.

Schedule of Share-Based Compensation Expense

Stock compensation for the periods indicated below are as follows (in thousands):

	Three Months Ended March 31
	2025		2024
RSUs	$	6,073	$	8,667
Stock options	446		800
Total share-based compensation	$	6,519	$	9,467

Schedule of Stock Option Activity

Stock option activity during the three months ended March 31, 2025, consisted of the following (in thousands, except for share and per share data):

	Stock options	Weighted-Average Exercise Price	Weighted-Average Life (Years)	Aggregate Intrinsic Value
Balance as of December 31, 2024	468,722	$29.40	3.1	$	1,570
Exercised	(866)	7.69
Cancelled/Forfeited/Expired	(3)	81.51
Balance as of March 31, 2025	467,853	$32.26	4.2	$	219
Vested and exercisable as of March 31, 2025	462,543	$31.89	4.2	$	219

Schedule of RSU Activity

RSU activity during the three months ended March 31, 2025 was as follows:

	Total RSUs	Time-based	Performance-based	Market-based	Weighted-Average Grant Date Fair Value Per Share
Unvested as of December 31, 2024	839,958	539,379	113,378	187,201	$	48.91
Granted	55,280	55,280	—	—	14.25
Vested(1)	(264,332)	(182,815)	(50,251)	(31,266)	81.73
Forfeited	(20,306)	(16,888)	(3,418)	—	36.65
Unvested as of March 31, 2025	610,600	394,956	59,709	155,935	$	32.12

(1) Common stock has not been issued in connection with 7,190 vested RSUs because such RSUs were unsettled as of March 31, 2025.