| Stock Option Plan Activity |
Activity under the 2021 EIP is set forth below:
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Options |
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Weighted-
Average
Exercise
Price |
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Weighted-
Average
Remaining
Contractual
Term
in years |
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(In thousands) |
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(Per share data) |
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(Years) |
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Outstanding as of December 31, 2022 |
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485 |
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$ |
18.90 |
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7.3 |
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Granted |
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— |
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$ |
— |
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Exercised |
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(37 |
) |
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$ |
10.15 |
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Forfeited or expired |
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(12 |
) |
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$ |
21.70 |
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Outstanding as of June 30, 2023 |
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436 |
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$ |
19.95 |
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7.4 |
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Options vested and expected to vest as of June 30, 2023 |
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436 |
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$ |
19.95 |
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Vested and exercisable as of June 30, 2023 |
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330 |
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$ |
23.10 |
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Outstanding as of December 31, 2023 |
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376 |
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$ |
21.47 |
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6.2 |
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Granted |
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— |
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$ |
— |
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Exercised |
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(51 |
) |
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$ |
6.30 |
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Forfeited or expired |
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(13 |
) |
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$ |
28.43 |
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Outstanding as of June 30, 2024 |
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|
312 |
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$ |
23.53 |
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5.9 |
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Options vested and expected to vest as of June 30, 2024 |
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312 |
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$ |
23.53 |
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Vested and exercisable as of June 30, 2024 |
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311 |
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$ |
23.76 |
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| Schedule of Nonvested Restricted Stock Units Activity |
The following table summarizes outstanding and expected to vest RSUs as of June 30, 2024 and 2023 and their activity during the six months ended June 30, 2024 and 2023:
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Number
of Shares |
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Weighted-
Average
Grant Date
Fair Value |
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Aggregate
Intrinsic
Value |
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(In thousands) |
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(Per share data) |
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(In thousands) |
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Balance as of December 31, 2022 |
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275 |
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$ |
156.45 |
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Granted |
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163 |
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73.85 |
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Released |
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(47 |
) |
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134.05 |
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Cancelled |
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(41 |
) |
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149.45 |
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Balance as of June 30, 2023 |
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350 |
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$ |
121.80 |
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$ |
26,411 |
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Expected to vest as of June 30, 2023 |
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350 |
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$ |
121.80 |
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$ |
26,411 |
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Balance as of December 31, 2023 |
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570 |
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$ |
68.00 |
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Granted |
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|
137 |
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$ |
8.30 |
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Released |
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(83 |
) |
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$ |
81.54 |
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Cancelled |
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(78 |
) |
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$ |
66.88 |
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Balance as of June 30, 2024 |
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|
546 |
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$ |
51.13 |
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$ |
1,812 |
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Expected to vest as of June 30, 2024 |
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|
546 |
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$ |
51.13 |
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$ |
1,812 |
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| 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:
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Three Months Ended
June 30, |
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Six Months Ended
June 30, |
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2024 |
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2023 |
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2024 |
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2023 |
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(In thousands) |
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Restricted stock units |
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$ |
3,101 |
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$ |
4,745 |
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$ |
6,930 |
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$ |
8,803 |
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Stock options |
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39 |
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119 |
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|
99 |
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|
354 |
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Earnout shares–employees |
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1,107 |
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1,671 |
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2,305 |
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3,614 |
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$ |
4,247 |
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$ |
6,535 |
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$ |
9,334 |
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$ |
12,771 |
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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:
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Three Months Ended
June 30, |
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Six Months Ended
June 30, |
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2024 |
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2023 |
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2024 |
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2023 |
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(In thousands) |
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Cost of 3D Printer |
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$ |
269 |
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$ |
324 |
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$ |
658 |
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$ |
518 |
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Cost of Support services |
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|
138 |
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|
120 |
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|
333 |
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|
192 |
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Research and development |
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1,130 |
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|
2,835 |
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2,680 |
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|
5,638 |
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Selling and marketing |
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|
862 |
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1,585 |
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|
1,916 |
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|
3,081 |
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General and administrative |
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|
1,848 |
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1,671 |
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3,747 |
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|
3,342 |
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$ |
4,247 |
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$ |
6,535 |
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|
$ |
9,334 |
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|
$ |
12,771 |
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