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STOCKHOLDERS' EQUITY (Tables)
3 Months Ended
Mar. 31, 2025
Equity [Abstract]  
Summary of Stock Option Activity

The following table summarizes the changes in the Company’s outstanding stock options for the three months ended March 31, 2025:

 

 

 

Number of
Options

 

Outstanding at January 1, 2025

 

 

18,396,536

 

Granted (1)

 

 

111,500

 

Exercised

 

 

(41,390

)

Forfeited / Cancelled / Expired

 

 

(512,400

)

Outstanding at March 31, 2025

 

 

17,954,246

 

_____________________________________________

(1) Consists of new hire employee grants of stock options to purchase 111,500 shares of the Company's Class A common stock. The grants vest 25% on the first anniversary date of the grant with the remainder vesting equally over the remaining 36 months, subject to the employee’s continued service to the Company through the applicable vesting dates.

Summary of Restricted Stock Unit Activity

The following table summarizes the changes in the Company’s outstanding RSUs for the three months ended March 31, 2025:

 

 

 

Number of
RSUs

 

Outstanding at January 1, 2025

 

 

138,902

 

Granted (1)

 

 

2,341,853

 

Vested

 

 

(29,143

)

Forfeited

 

 

(9,629

)

Outstanding at March 31, 2025

 

 

2,441,983

 

_____________________________________________

(1) Includes new hire grants of 8,520 RSUs, annual employee grants of 1,733,333 RSUs, and grants to executive officers of 600,000 RSUs. The grants will vest 25% approximately on the anniversary date of the grant with the remainder vesting equally over the remaining 12 quarters, subject to the employee’s continued service to the Company through the applicable vesting dates.

Summary of Stock-Based Compensation Expenses by Function

The following table presents details of stock-based compensation expenses by functional line item noted within the Company's operating expenses:

 

 

 

Three Months Ended
March 31,

 

 

 

2025

 

 

2024

 

Cost of sales

 

$

18

 

 

$

24

 

Research and development

 

 

345

 

 

 

337

 

Sales and marketing

 

 

63

 

 

 

39

 

General and administrative

 

 

519

 

 

 

632

 

 

 

$

945

 

 

$

1,032