v3.25.4
Stockholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Schedule of Shares Reserved for Future Issuance
The Company has reserved shares of common stock for future issuances as follows:
December 31,
20252024
Common stock options issued and outstanding
3,067,088 3,627,606 
Common stock restricted stock units issued and outstanding
6,667,812 2,728,599 
Common stock available for future grants
2,204,802 3,006,773 
Common stock available for ESPP1,795,996 1,648,046 
Total13,735,698 11,011,024 
Schedule of Summary of Stock Option Activity
Activity with respect to stock options was as follows:
Outstanding Options
Number of SharesWeighted Average Exercise Price
Balance, December 31, 20233,142,981 $16.40 
Options granted
928,125 9.00 
Options exercised
(107,817)2.02 
Options canceled
(335,683)21.96 
Balance, December 31, 20243,627,606 $14.42 
Options granted
128,395 8.29 
Options exercised
(145,435)1.71 
Options canceled
(543,478)9.05 
Balance, December 31, 20253,067,088 $15.72 
Schedule of Options Vested and Expected to Vest
December 31, 2025
Number of Shares
Weighted Average Exercise Price
Weighted Average Contractual Life (in Years)
Options vested2,666,070$16.35 4.94
Options vested and expected to vest3,067,088$15.72 5.26
Schedule of Activity with Respect to Restricted Stock Units Activity with respect to service-based restricted stock units was as follows:
Number of Shares Underlying Outstanding Restricted StockWeighted Average Grant Date Fair Value
Outstanding at December 31, 20232,244,903 $15.74 
Granted1,848,908 8.70 
Vested
(987,828)15.19 
Forfeited
(377,384)14.31 
Outstanding at December 31, 20242,728,599 $11.11 
Granted4,793,547 4.49 
Vested
(1,492,336)11.44 
Forfeited
(754,498)8.85 
Outstanding at December 31, 20255,275,312 $5.33 
Activity with respect to performance-based and market-based restricted stock units was as follows:
Number of Shares Underlying Outstanding Restricted StockWeighted Average Grant Date Fair Value
Outstanding at December 31, 2024— $— 
Granted1,526,848 2.87 
Vested
— — 
Forfeited (1)
(134,348)8.29 
Outstanding at December 31, 20251,392,500 $2.34 
(1) Forfeited PSUs
Schedule of Stock Options Valuation Assumptions The estimated grant date fair values of employee stock options were calculated using the following assumptions:
Years Ended December 31,
20252024
Weighted average expected term (in years)
6.0
6.0 - 6.1
Volatility
79.1%
71.3% - 72.8%
Risk-free interest rate
4.0%
4.1% - 4.5%
Dividend yield——
Schedule of Compensation Expense Valuation Assumptions
Compensation expense is calculated using the fair value of the employees' purchase rights under the Black-Scholes model.
Years Ended December 31,
20252024
Weighted average expected term (in years)0.50.5
Volatility
64.0% - 122.6%
54.7% - 69.7%
Risk-free interest rate
4.1% - 4.3%
5.0% - 5.3%
Dividend yield——
Schedule of Total Stock-Based Compensation
Stock-based compensation expense is reflected in the statements of operations and comprehensive loss as follows (in thousands):
Years Ended December 31,
20252024
Cost of goods sold$1,944 

$1,873 
Research and development2,635 

2,708 
Selling, general and administrative16,654 18,374 
Total$21,233 $22,955 
The above stock-based compensation expense related to the following equity-based awards (in thousands):
Years Ended December 31,
20252024
Stock options and restricted stock units$20,937 $22,460 
ESPP296 495 
Total$21,233 $22,955