Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Stock-based Compensation Expense

The Company recorded stock-based compensation expense in the following expense categories in its accompanying condensed consolidated statements of operations and comprehensive loss:

	Three Months Ended March 31,
(in thousands)	2024		2023
Research and development	$	456	$	49
Sales and marketing		830		173
General and administrative		1,155		122
Cost of sales		64		22
Total stock-based compensation	$	2,505	$	366

Schedule of Stock Option Activity

The following table summarizes stock option activity for the Plans for the three months ended March 31, 2024:

	Number of shares			Weighted average exercise price per share		Weighted average remaining contractual term (years)		Aggregate intrinsic value (in 000's)
Outstanding at December 31, 2023		4,872,527		$	3.64		6.10
Granted		—		$	—
Exercised		(755,016	)	$	0.33
Forfeited		(83,150	)	$	4.85
Expired		(46,600	)	$	2.03
Outstanding at March 31, 2024		3,987,761		$	4.26		6.80	$	738
Exercisable at March 31, 2024		2,138,472		$	1.32		5.16	$	673
Vested and expected to vest at March 31, 2024		3,987,761		$	4.26		6.80

Schedule of Fair Value of Each Stock Option Estimated Using Weighted Average Assumptions

The fair value of each stock option granted during the three months ended March 31, 2023 was estimated on the date of grant using the weighted average assumptions in the table below:

	March 31, 2023
Expected volatility		71.2	%
Risk-free interest rate		3.9	%
Expected term (in years)		6.0
Expected dividend yield		—	%

Schedule of Summary of Restricted Stock Units Activity

The following table summarizes RSU activity for the Plans for the three months ended March 31, 2024:

	Number of shares			Weighted average grant date fair value per share
Outstanding at December 31, 2023		872,037		$	11.27
Granted		685,213		$	1.35
Vested		(685,213	)	$	1.35
Forfeited		(39,304	)	$	9.39
Outstanding at March 31, 2024		832,733		$	11.36