Equity Incentive Plans and Stock-Based Compensation (Tables)
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12 Months Ended |
Dec. 31, 2024 |
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| Share-Based Payment Arrangement [Abstract] |
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| Stock Option Plan Activity |
Activity under the Company’s stock option plans 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 |
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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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(63 |
) |
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$ |
9.10 |
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Forfeited or expired |
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(46 |
) |
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$ |
10.15 |
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Outstanding as of December 31, 2023 |
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376 |
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$ |
21.35 |
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6.2 |
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Options vested and expected to vest as of December 31, 2023 |
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376 |
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$ |
21.35 |
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Vested and exercisable as of December 31, 2023 |
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350 |
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$ |
21.70 |
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Outstanding as of December 31, 2023 |
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376 |
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$ |
21.35 |
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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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(54 |
) |
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$ |
16.15 |
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Outstanding as of December 31, 2024 |
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271 |
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$ |
25.38 |
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5.0 |
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Options vested and expected to vest as of December 31, 2024 |
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271 |
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$ |
25.38 |
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Vested and exercisable as of December 31, 2024 |
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270 |
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$ |
25.34 |
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| Schedule of Nonvested Restricted Stock Units Activity |
The following table summarizes outstanding and expected to vest RSUs as of December 31, 2024 and 2023 and their activity during the year ended December 31, 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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$ |
156.80 |
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$ |
17,202 |
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Granted |
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609 |
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53.86 |
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33,070 |
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Released |
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(158 |
) |
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112.65 |
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9,148 |
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Cancelled |
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(156 |
) |
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123.52 |
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7,773 |
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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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$ |
7,940 |
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Expected to vest as of December 31, 2023 |
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570 |
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$ |
68.00 |
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$ |
7,940 |
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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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$ |
7,940 |
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Granted |
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467 |
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3.29 |
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1,549 |
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Released |
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(567 |
) |
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28.54 |
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1,276 |
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Cancelled |
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(275 |
) |
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53.91 |
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1,050 |
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Balance as of December 31, 2024 |
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195 |
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$ |
47.62 |
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$ |
132 |
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Expected to vest as of December 31, 2024 |
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195 |
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$ |
47.62 |
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$ |
132 |
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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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December 31, |
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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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$ |
9,637 |
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$ |
16,575 |
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Stock options |
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121 |
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515 |
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Earnout shares - employees |
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3,958 |
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5,783 |
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$ |
13,716 |
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$ |
22,873 |
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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 operating expenses on the statements of operations:
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December 31, |
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2024 |
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2023 |
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(In thousands) |
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Research and development |
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$ |
4,256 |
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$ |
11,415 |
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Selling and marketing |
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2,708 |
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5,689 |
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General and administrative |
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6,752 |
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5,769 |
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$ |
13,716 |
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$ |
22,873 |
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| Share-Based Payment Arrangement, Expensed and Capitalized, Included in Cost of Revenue, Amount |
The following sets forth the total stock-based compensation expense by type of award included in cost of revenue in the statements of operations:
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December 31, |
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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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$ |
1,644 |
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$ |
1,995 |
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Stock options |
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|
4 |
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|
63 |
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$ |
1,648 |
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$ |
2,058 |
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The following sets forth the total stock-based compensation expense for the stock options, and RSUs included in cost of revenue on the statements of operations:
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December 31, |
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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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$ |
999 |
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$ |
1,622 |
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Cost of support services |
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|
649 |
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|
436 |
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$ |
1,648 |
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$ |
2,058 |
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