As of March 31, 2025, there are 17,785,881 shares of Class A common stock reserved for issuance under the 2020 Equity Incentive Plan (the 2020 Plan), 3,177,551 shares of which are available for issuance in connection with grants of future awards.

Stock option activity for the three months ended March 31, 2025 is as follows:


	Options Outstanding			Weighted-Average Exercise Price
Balance at December 31, 2024		13,198,232		$	2.86
Options granted		433,650			2.29
Options forfeited		(199,862	)		7.95
Balance at March 31, 2025		13,432,020		$	2.77
Vested and exercisable, March 31, 2025		7,870,348		$	3.20

Restricted stock unit activity for the three months ended March 31, 2025 is as follows:


	Number of Shares			Weighted-Average Grant Date Fair Value
Balance at December 31, 2024		4,450,441		$	4.26
Granted		1,089,350			2.33
Vested		(1,013,607	)		7.15
Forfeited		(28,401	)		2.12
Balance at March 31, 2025		4,497,783		$	3.15

In connection with the vesting of restricted stock units, the Company withheld shares of common stock to satisfy tax withholding and remittance obligations. As of March 31, 2025, the Company withheld 359,664 shares of common stock, which were retired, for $0.8 million.

A total of 2,258,196 shares of Class A common stock are reserved for issuance under the employee stock purchase plan (ESPP) as of March 31, 2025. During the three months ended March 31, 2025, no shares of Class A common stock were issued under the ESPP.

The following table summarizes the components of stock-based compensation recognized in the Company’s unaudited condensed consolidated statements of operations and comprehensive loss (in thousands):


	Three Months Ended March 31,
	2025		2024
Cost of revenue	$	127	$	398
Research and development		1,789		2,139
Selling, general and administrative		2,747		5,043
Total stock-based compensation	$	4,663	$	7,580