Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of stock-based compensation expense of consolidated statements

Stock-based compensation expense is included in the following line items in the accompanying consolidated statements of operations for the years ended:

	December 31,
(in thousands)		2023		2022		2021
Costs of goods sold		$	796	$	215	$	157
Sales and marketing		2,982		2,341		2,905
Research and development		3,875		2,640		1,923
General and administrative		6,764		10,395		5,934
Total stock-based compensation expense		$	14,418	$	15,591	$	10,919

Schedule of weighted-average assumptions for options granted

The following weighted-average assumptions were used in the calculation of fair value for stock options granted for the following periods:

	Year Ended December 31,
	2023		2022		2021
Expected term (in years)	5.40		6.01		5.88
Expected volatility	59.32	%	61.17	%	58.38	%
Risk free interest rate	3.52	%	2.31	%	1.02	%
Expected dividends	—	%	—	%	—	%

The following are the weighted average assumptions used in the valuation of ESPP options for the years ended December 31:

	December 31,
	2023		2022		2021
Expected term (in years)	0.5		0.5		0.5
Expected volatility	53.6	%	66.5	%	48.0	%
Risk-free interest rate	5.1	%	1.1	%	0.1	%
Expected dividends	—	%	—	%	—	%

Schedule of stock option activity

The following table summarizes the Company's stock option activity for the year ended December 31, 2023:

	Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2022	3,894,856	$	14.38	6.78	$	2,783
Granted (1)	1,393,464	$	7.88
Forfeited	(740,319)	$	13.09
Exercised	(175,758)	$	5.94
Outstanding at December 31, 2023	4,372,243	$	12.87	6.43	$	87
Exercisable at December 31, 2023	2,281,681	$	16.33	4.26	$	0

(1) Options granted include 215,800 inducement shares. in accordance with Nasdaq Listing Rule 5635(c)(4).

Schedule of stock unit activity

The following table summarizes the activity for restricted stock units for the indicated periods:

	Outstanding Restricted Stock Units
	Stock Units	Weighted Average Fair Value at Date of Grant per Share		Weighted Average Remaining Vesting Life (Years)	Aggregate Intrinsic Value (in thousands)
Unvested December 31, 2022	1,861,106	$	11.13	1.60	$	18,574
Granted (1)	1,359,500	$	8.10
Released	(324,731)	$	16.23
Forfeited	(560,645)	$	9.70
Unvested December 31, 2023	2,335,230	$	9.00	1.39	$	15,950

(1) RSU granted include 112,500 inducements shares. in accordance with Nasdaq Listing Rule 5635(c)(4).

The following table summarizes the activity for performance stock units for the indicated periods:

	Outstanding Performance Stock Units
	Stock Units	Weighted Average Fair Value at Date of Grant per Share		Weighted Average Remaining Vesting Life (Years)	Aggregate Intrinsic Value (in thousands)
Unvested December 31, 2022	1,112,031	$	15.90	1.86	$	11,098
Granted	747,870	8.29
Released	(41,833)	12.00
Forfeited	(560,656)	15.46
Unvested December 31, 2023	1,257,412	$	11.69	1.76	$	8,588