Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

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Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 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 three months ended March 31, 2024 and 2023:
Three Months Ended March 31,
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 (519,089) 0.58 
Forfeited (9,059) 0.42 
Outstanding as of March 31, 2024
 22,522,005 1.37 
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
Outstanding as of December 31, 2023
 13,046,679  $ 3.49 
Granted 6,850,765  3.70 
Vested (3,147,778) 3.35 
Forfeited (289,631) 3.58 
Outstanding as of March 31, 2024
 16,460,035  $ 3.60 
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
Outstanding as of December 31, 2023
 380,000  $ 2.64 
Granted —  — 
Vested (380,000) 2.64 
Forfeited —  — 
Outstanding as of March 31, 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 March 31,
2024   2023
Cost of revenue $ 138 $ 145
Research and development 882 837
Sales and marketing 2,959 1,998
General and administrative 2,431 2,063
Total stock-based compensation expense $ 6,410 $ 5,043