Share-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2024

Share-Based Payment Arrangement [Abstract]

Stock option activity during the nine months ended September 30, 2024 consisted of the following:


	Options	Weighted Average Fair Value Per Share		Weighted Average Exercise Price Per Share		Weighted Average Remaining Years	Aggregate Intrinsic Value
December 31, 2023 — Options outstanding	22,512	$	0.40	$	0.51	0.55	$	168,194
Exercised	(20,659)	0.38		0.50			141,076
March 31, 2024 — Options outstanding	1,853	$	0.56	$	0.63	5.79	$	17,806
Exercised	(16)	0.64		0.46			115
June 30, 2024 — Options outstanding	1,837	$	0.56	$	0.63	5.54	$	11,532

Exercised	(3)	0.64		0.46			13

September 30, 2024 - Options outstanding	1,834	$	0.56	$	0.63	5.28	$	7,184
September 30, 2024 - Options vested and exercisable	1,834	$	0.56	$	0.63	5.28	$	7,184

Schedule of Restricted Stock Units (RSUs) Activity

RSU activity during the nine months ended September 30, 2024 consisted of the following:


	RSUs	Weighted Average Grant Date Fair Value		Weighted Average Fair Value
December 31, 2023 — RSU outstanding	603,040	$	18.97	$	4,819,138
Granted	95,636	9.15		863,989
Vested	(94,428)	17.76		848,522
Forfeited	(4,845)	21.26		55,365
March 31, 2024 — RSU outstanding	599,403	$	17.43	$	6,146,714
Granted	92,505	7.64		706,702
Vested	(265,157)	13.83		2,120,841
Forfeited	(25,055)	16.52		218,566
June 30, 2024 — RSU outstanding	401,696	$	17.61	$	2,781,676
Granted	1,251,551	6.71		6,804,667
Vested	(56,549)	18.78		319,171
Forfeited	(14,247)	11.20		70,316
September 30, 2024 — RSU outstanding	1,582,451	$	9.01	$	7,204,074

Schedule of Recognized Stock-Based Compensation Expense

The Company recognized stock-based compensation expense (including Earn-out RSUs) in the condensed consolidated statements of operations and comprehensive loss for the three and nine months ended September 30, 2024 totaling approximately $2.2 million and $5.9 million, respectively, and September 30, 2023, totaling approximately $2.2 million and $6.3 million, respectively, which consisted of the following (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Cost of goods sold	$	67	$	91	$	303	$	357
Research and development	335		470		1,150		1,428
Sales and marketing	244		257		568		782
General and administrative	1,601		1,424		3,866		3,741
Total	$	2,247	$	2,242	$	5,887	$	6,308