Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

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Stock-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Fair Value Weighted-Average Assumptions
The following table presents, on a weighted average basis, the assumptions used in the Black-Scholes option-pricing model to determine the grant-date fair value of stock options granted during the six months ended June 30, 2024 and 2023:
Six Months Ended June 30,
2024 2023
Risk-free interest rate 4.1% 4.2%
Expected term (in years) 6.1 6.1
Expected volatility 90.0% 87.5%
Expected dividend yield 0.0% 0.0%
Summary of Stock Option Activity
The following table summarizes the Company’s stock option activity since December 31, 2023 (in thousands, except for share and per share data):
Number of
Shares		 Weighted
Average
Exercise Price
Outstanding as of December 31, 2023
 20,324,528 $ 1.04 
Granted 2,725,625 3.63 
Exercised (1,342,136) 0.48 
Forfeited (13,085) 0.42 
Expired (13,141) 0.42 
Outstanding as of June 30, 2024
 21,681,791 $ 1.40 
Summary of Restricted Stock Unit Activity
The following table summarizes the Company's restricted stock units activity since December 31, 2023:
Number of
Shares		 Grant Date Fair
Value
Nonvested as of December 31, 2023
 13,046,679  $ 3.49 
Granted 8,422,954  3.57 
Vested (4,441,906) 3.44 
Forfeited (910,339) 3.74 
Nonvested as of June 30, 2024
 16,117,388  $ 3.54 
Summary of Performance Stock Unit Activity
The following table summarizes the Company's performance stock units activity since December 31, 2023:
Number of
Shares		 Grant Date Fair
Value
Nonvested as of December 31, 2023
 380,000  $ 2.64 
Granted —  — 
Vested (380,000) 2.64 
Forfeited —  — 
Nonvested as of June 30, 2024
 —  $ — 
Schedule of Allocation of Share Based Compensation Expense
Stock-based compensation expense was classified in the condensed consolidated statements of operations and comprehensive loss as follows (in thousands):
Three Months Ended June 30, Six Months Ended June 30,
2024   2023   2024   2023
Cost of revenue $ 173 $ 184 $ 311 $ 329
Research and development 1,219 1,238 2,101 2,075
Sales and marketing 2,724 2,508 5,683 4,506
General and administrative 3,308 2,759 5,739 4,822
Total stock-based compensation expense $ 7,424 $ 6,689 $ 13,834 $ 11,732