Stock-Based Compensation Plan (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule 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	715,352	12.43
Options exercised	(1,224,564)	1.07
Options forfeited	(641,036)	9.85
Options expired	(76,967)	2.33
Balance as of December 31, 2022	7,578,635	$	7.76	7.42	$	37,200
Options granted	1,295,948	10.09
Options exercised	(1,099,160)	1.33
Options forfeited	(363,937)	12.36
Options expired	(191,784)	14.60
Balance as of December 31, 2023	7,219,702	$	8.74	6.90	$	23,574
Options exercisable as of December 31, 2023	4,628,353	$	7.10	6.21	$	21,212

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		Weighted-average remaining contractual term (in years)	Aggregate intrinsic value (in thousands)
Unvested balance at December 31, 2021	104,876	$	21.10	2.05	$	1,704
Granted	1,361,133	12.93
Vested	(215,433)	14.51
Forfeited	(81,068)	13.03
Unvested balance at December 31, 2022	1,169,508	$	13.36	1.59	$	11,941
Granted	2,445,364	$	10.05
Vested	(624,351)	12.20
Forfeited	(382,264)	11.02
Unvested balance at December 31, 2023	2,608,257	$	10.88	1.51	$	23,787

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):

	Year Ended December 31,
	2023		2022		2021
Cost of sales	$	3,212	$	2,855	$	1,508
Research and development	6,676		5,035		1,877
Sales and marketing	4,290		3,419		1,375
General and administrative	7,870		5,286		1,826
Total stock-based compensation	$	22,048	$	16,595	$	6,586

Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions

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

	Year Ended December 31,
	2023		2022		2021
Expected term (in years)	5.96		5.91		6.05
Expected volatility	71	%	75	%	90	%
Risk-free interest rate	4	%	2	%	1	%
Dividend yield	—		—		—

Schedule of Share-Based Payment Award, Employee Stock Purchase Plan, Valuation Assumption

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:

	Year Ended December 31,
	2023		2022		2021
Expected term (in years)	0.5		0.5		0.5
Expected volatility	67	%	77	%	75	%
Risk-free interest rate	5	%	3	%	1	%
Dividend yield	—		—		—