v3.25.2
Equity Incentive Plans and Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Option Plan Activity

Activity under the 2021 EIP is set forth below:

 

   Options   Weighted-
Average
Exercise Price
   Weighted-
Average
Remaining
Contractual
Term in years
 
    (In thousands)    (Per share data)    (Years) 
Outstanding as of December 31, 2023   25   $320.25    6.2 
Granted      $      
Exercised   (3)  $94.50      
Forfeited or expired   (1)  $426.45      
Outstanding as of June 30, 2024   21   $352.95    5.9 
Options vested and expected to vest as of June 30, 2024   21   $352.95      
Vested and exercisable as of June 30, 2024   21   $356.40      
                
Outstanding as of December 31, 2024   18   $380.70    5.0 
Granted      $      
Exercised      $      
Forfeited or expired   (14)  $166.70      
Outstanding as of June 30, 2025   4   $1,022.11    4.8 
Options vested and expected to vest as of June 30, 2025   4   $1,022.11      
Vested and exercisable as of June 30, 2025   4   $1,022.11      
Schedule of Nonvested Restricted Stock Units Activity

The following table summarizes outstanding and expected to vest RSUs as of June 30, 2025 and 2024 and their activity during the six months ended June 30, 2025 and 2024:

 

   Number
of Shares
   Weighted-
Average
Grant Date
Fair Value
   Aggregate
Intrinsic
Value
 
    (In thousands)    (Per share data)    (In thousands) 
Balance as of December 31, 2023   38   $1,020.00   $7,940 
Granted   9    124.50     
Released   (5)   1,223.10     
Cancelled   (5)   1,003.20     
Balance as of June 30, 2024   37   $766.95   $1,812 
Expected to vest as of June 30, 2024   37   $766.95   $1,812 
                
Balance as of December 31, 2024   13   $714.30   $132 
Granted   1,070    11.05     
Released   (104)   28.07     
Cancelled   (90)   30.91     
Balance as of June 30, 2025   889   $16.51   $6,400 
Expected to vest as of June 30, 2025   889   $16.51   $6,400 
Schedule of Stock-Based Compensation Expense

The following sets forth the total stock-based compensation expense by type of award included in operating expenses on the statements of operations:

 

   2025   2024   2025   2024 
   Three Months Ended
June 30,
   Six Months Ended
June 30,
 
   2025   2024   2025   2024 
   (In thousands)   (In thousands) 
Restricted stock units  $1,834   $3,101   $5,425   $6,930 
Stock options   1    39    5    99 
Earnout shares–employees   574    1,107    1,053    2,305 
Stock based compensation expense  $2,409   $4,247   $6,483   $9,334 

 

 

The following sets forth the total stock-based compensation expense for the stock options, RSUs, and earnout shares - employees included in cost of revenue and operating expenses on the statements of operations:

 

   2025   2024   2025   2024 
   Three Months Ended
June 30,
   Six Months Ended
June 30,
 
   2025   2024   2025   2024 
   (In thousands)   (In thousands) 
Cost of 3D Printer  $474   $269   $613   $658 
Cost of Support services   125    138    194    333 
Research and development   613    1,130    1,256    2,680 
Selling and marketing   368    862    607    1,916 
General and administrative   829    1,848    3,813    3,747 
Stock based compensation expense  $2,409   $4,247   $6,483   $9,334