| 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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(40 |
) |
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$ |
10.50 |
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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 Sept 30, 2023 |
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433 |
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$ |
19.60 |
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6.7 |
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Options vested and expected to vest as of Sept 30, 2023 |
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433 |
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$ |
19.60 |
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Vested and exercisable as of Sept 30, 2023 |
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352 |
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$ |
22.40 |
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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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(50 |
) |
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$ |
11.93 |
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Outstanding as of Sept 30, 2024 |
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|
275 |
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$ |
25.91 |
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5.3 |
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Options vested and expected to vest as of Sept 30, 2024 |
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275 |
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$ |
25.91 |
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Vested and exercisable as of Sept 30, 2024 |
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275 |
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$ |
26.00 |
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| Schedule of Nonvested Restricted Stock Units Activity |
The following table summarizes outstanding and expected to vest RSUs as of September 30, 2024 and 2023 and their activity during the nine months ended September 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 Sept 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 Sept 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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|
423 |
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$ |
3.54 |
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Released |
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(392 |
) |
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$ |
22.86 |
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Cancelled |
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(170 |
) |
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$ |
58.58 |
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Balance as of Sept 30, 2024 |
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|
431 |
|
|
$ |
49.53 |
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$ |
310 |
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Expected to vest as of Sept 30, 2024 |
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|
431 |
|
|
$ |
49.53 |
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$ |
310 |
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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
September 30, |
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Nine Months Ended
September 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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$ |
2,445 |
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$ |
4,917 |
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$ |
9,375 |
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$ |
13,720 |
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Stock options |
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16 |
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|
88 |
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|
115 |
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|
956 |
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Earnout shares–employees |
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1,246 |
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|
1,711 |
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3,551 |
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|
4,810 |
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$ |
3,707 |
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$ |
6,716 |
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$ |
13,041 |
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$ |
19,486 |
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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
September 30, |
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Nine Months Ended
September 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) |
|
Cost of 3D Printer |
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$ |
228 |
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|
$ |
— |
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$ |
886 |
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|
$ |
— |
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Cost of Support services |
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|
249 |
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|
|
— |
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|
582 |
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|
— |
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Research and development |
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|
1,199 |
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|
3,115 |
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3,879 |
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|
9,104 |
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Selling and marketing |
|
|
643 |
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|
1,637 |
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|
2,559 |
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|
4,718 |
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General and administrative |
|
|
1,388 |
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|
1,964 |
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|
5,135 |
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|
5,664 |
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$ |
3,707 |
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|
$ |
6,716 |
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$ |
13,041 |
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|
$ |
19,486 |
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