Stock-Based Compensation Plan (Tables)

6 Months Ended

Jun. 30, 2022

Share-based Payment Arrangement [Abstract]

Summary of stock option activity

The following table shows stock option activity during the periods indicated (in thousands except share and per share data):

	Number of options outstanding			Weighted-average exercise price		Weighted-average remaining contractual term (in years)		Aggregate intrinsic value
Balance as of December 31, 2021		8,805,850		$	6.56		8.03	$	147,623
Options granted		690,751			12.32
Options exercised		(689,288	)		1.18
Options forfeited		(536,796	)		9.89
Options expired		(59,345	)		0.96
Balance as of June 30, 2022		8,211,172		$	7.31		7.86	$	45,345,842
Options exercisable as of June 30, 2022		3,317,673		$	1.26		6.40	$	31,614,268

Schedule of RSU awards activity

The following table shows RSU awards activity during the periods indicated:

	Shares			Weighted-average grant date fair value per share
Unvested balance at December 31, 2021		104,876		$	21.10
Granted		1,250,251		$	12.83
Vested		(76,990	)	$	13.64
Forfeited		(35,800	)	$	14.98
Unvested balance at June 30, 2022		1,242,337		$	13.42

Schedule of stock-based compensation expense

The following table shows the allocation of stock-based compensation expense related to the Company’s stock-based awards (in thousands):

	Three months ended June 30,				Six months ended June 30,
	2022		2021		2022		2021
Cost of sales	$	749	$	120	$	1,455	$	232
Research and development		1,087		185		2,352		304
Sales and marketing		856		173		1,634		303
General and administrative		1,242		189		2,330		284
Total stock-based compensation	$	3,934	$	667	$	7,771	$	1,123

Summary of weighted average valuation assumptions used to calculate the fair value of options granted

The following table shows the weighted-average valuation assumptions used in determining the fair value of employee stock options:

	Three months ended June 30,						Six months ended June 30,
	2022			2021			2022			2021
Expected term (in years)		5.80			6.02			5.99			5.99
Expected volatility		75	%		90	%		75	%		91	%
Risk-free interest rate		3	%		1.06	%		2	%		1.09	%
Dividend yield	—			—			—			—

Summary of weighted average valuation assumptions used to calculate the fair value of the ESPP for the initial offering

The following table summarizes the weighted-average assumptions used in estimating the fair value of the ESPP for the current offering period using the Black-Scholes option-pricing model:

	Three months ended June 30,						Six months ended June 30,
	2022			2021			2022			2021
Expected term (in years)		0.5			—			0.5			—
Expected volatility		74	%		—	%		74	%		—	%
Risk-free interest rate		1	%		—	%		1	%		—	%
Dividend yield		—			—			—			—