Stockholders' Equity and Equity Incentive Plans (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Equity [Abstract] |
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| Schedule of Reserved Shares of Common Stock |
The Company has reserved shares of its common stock as follows:
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As of
June 30, 2026 |
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As of
December 31, 2025 |
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2014 Stock Option and Grant Plan and 2021 Incentive Award Plan: |
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Equity plan stock options outstanding |
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9,364,213 |
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9,855,901 |
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RSUs outstanding |
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20,823,544 |
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14,049,044 |
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Shares available for future issuance |
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15,921,842 |
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19,038,398 |
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2021 Employee Stock Purchase Plan: |
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Shares available for future issuance |
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6,544,822 |
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5,649,309 |
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Total reserved shares |
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52,654,421 |
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48,592,652 |
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| Summary of Stock Option Activity |
Option activity under the combined stock plans for the six months ended June 30, 2026 is set forth below:
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Weighted |
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Weighted |
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average |
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Aggregate |
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Outstanding |
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average |
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remaining |
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intrinsic |
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stock |
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exercise |
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contractual |
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value (in |
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options |
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price |
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life (years) |
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thousands) |
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Balance as of December 31, 2025 |
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9,855,901 |
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$ |
4.63 |
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4.31 |
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$ |
68,642 |
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Granted |
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— |
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— |
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Exercised |
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(491,688 |
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$ |
1.78 |
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Cancelled/forfeited |
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— |
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— |
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Balance as of June 30, 2026 (1) |
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9,364,213 |
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$ |
4.78 |
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3.91 |
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$ |
26,738 |
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Exercisable as of June 30, 2026 |
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9,217,963 |
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$ |
4.64 |
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3.85 |
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$ |
27,760 |
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(1)As no forfeitures are estimated due to the Company’s adoption of ASU No. 2016-09, all options are vested or expected to vest. As of June 30, 2026, no options were outstanding that were subject to a future performance condition.
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| Schedule of RSU Activity |
RSU activity during the six months ended June 30, 2026 was as follows:
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Restricted
stock units |
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Weighted-
average
grant date fair
value per share |
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Balance as of December 31, 2025 |
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14,049,044 |
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$ |
10.16 |
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Granted |
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13,880,737 |
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$ |
6.76 |
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Vested |
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(4,917,505 |
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$ |
9.45 |
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Cancelled/forfeited |
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(2,188,732 |
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$ |
8.91 |
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Balance as of June 30, 2026 |
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20,823,544 |
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$ |
8.19 |
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| Schedule of Stock-based Compensation Expense |
Stock-based compensation expense, net of actual forfeitures, is reflected in the condensed consolidated statements of operations and comprehensive loss (in thousands):
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Three Months Ended
June 30, |
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Six Months Ended
June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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Cost of revenue |
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$ |
1,541 |
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$ |
1,469 |
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$ |
2,751 |
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$ |
2,736 |
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Research and development |
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9,292 |
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8,657 |
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15,701 |
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16,163 |
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Sales and marketing |
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10,409 |
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9,740 |
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18,795 |
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17,559 |
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General and administrative |
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5,563 |
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4,639 |
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9,519 |
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8,644 |
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Total stock-based compensation expense |
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$ |
26,805 |
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$ |
24,505 |
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$ |
46,766 |
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$ |
45,102 |
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