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Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Summary of Stock Option Activity

The following table summarizes the Company’s stock option activity for the six months ended June 30, 2023:

 

Number of
Options

 

 

Weighted-
Average
Exercise
Price

 

 

Weighted-
Average
Remaining
Contractual
Term
(Years)

 

 

Aggregate
Intrinsic
Value (in
thousands)

 

Outstanding as of December 31, 2022

 

 

2,152,641

 

 

$

1.67

 

 

 

 

 

$

748

 

Granted

 

 

616,415

 

 

 

1.06

 

 

 

 

 

 

 

Exercised

 

 

(2,445

)

 

 

0.59

 

 

 

 

 

 

 

Cancelled or forfeited

 

 

(8,507

)

 

 

0.59

 

 

 

 

 

 

 

Outstanding as of June 30, 2023

 

 

2,758,104

 

 

$

1.54

 

 

 

8.8

 

 

$

 

Exercisable as of June 30, 2023

 

 

992,118

 

 

$

0.98

 

 

 

8.6

 

 

$

 

Summary of Stock-based Compensation Expense

Stock-based compensation expense was allocated as follows:

 

Three Months Ended June 30,

 

 

Six months ended June 30,

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Cost of revenue

 

$

1,177

 

 

$

511

 

 

$

3,060

 

 

$

925

 

Research and development

 

 

7,909

 

 

 

2,212

 

 

 

12,849

 

 

 

6,010

 

General and administrative

 

 

269,883

 

 

 

54,016

 

 

 

563,825

 

 

 

92,360

 

Total stock-based compensation

 

$

278,969

 

 

$

56,739

 

 

$

579,734

 

 

$

99,295