Quarterly report [Sections 13 or 15(d)]

Equity Incentive Plans and Stock-Based Compensation (Tables)

v3.25.2
Equity Incentive Plans and Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Option Plan Activity

Activity under the 2021 EIP is set forth below:

 

    Options     Weighted-
Average
Exercise Price
    Weighted-
Average
Remaining
Contractual
Term in years
 
      (In thousands)       (Per share data)       (Years)  
Outstanding as of December 31, 2023     25     $ 320.25       6.2  
Granted         $          
Exercised     (3 )   $ 94.50          
Forfeited or expired     (1 )   $ 426.45          
Outstanding as of June 30, 2024     21     $ 352.95       5.9  
Options vested and expected to vest as of June 30, 2024     21     $ 352.95          
Vested and exercisable as of June 30, 2024     21     $ 356.40          
                         
Outstanding as of December 31, 2024     18     $ 380.70       5.0  
Granted         $          
Exercised         $          
Forfeited or expired     (14 )   $ 166.70          
Outstanding as of June 30, 2025     4     $ 1,022.11       4.8  
Options vested and expected to vest as of June 30, 2025     4     $ 1,022.11          
Vested and exercisable as of June 30, 2025     4     $ 1,022.11          
Schedule of Nonvested Restricted Stock Units Activity

The following table summarizes outstanding and expected to vest RSUs as of June 30, 2025 and 2024 and their activity during the six months ended June 30, 2025 and 2024:

 

    Number
of Shares
    Weighted-
Average
Grant Date
Fair Value
    Aggregate
Intrinsic
Value
 
      (In thousands)       (Per share data)       (In thousands)  
Balance as of December 31, 2023     38     $ 1,020.00     $ 7,940  
Granted     9       124.50        
Released     (5 )     1,223.10        
Cancelled     (5 )     1,003.20        
Balance as of June 30, 2024     37     $ 766.95     $ 1,812  
Expected to vest as of June 30, 2024     37     $ 766.95     $ 1,812  
                         
Balance as of December 31, 2024     13     $ 714.30     $ 132  
Granted     1,070       11.05        
Released     (104 )     28.07        
Cancelled     (90 )     30.91        
Balance as of June 30, 2025     889     $ 16.51     $ 6,400  
Expected to vest as of June 30, 2025     889     $ 16.51     $ 6,400  
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:

 

    2025     2024     2025     2024  
    Three Months Ended
June 30,
    Six Months Ended
June 30,
 
    2025     2024     2025     2024  
    (In thousands)     (In thousands)  
Restricted stock units   $ 1,834     $ 3,101     $ 5,425     $ 6,930  
Stock options     1       39       5       99  
Earnout shares–employees     574       1,107       1,053       2,305  
Stock based compensation expense   $ 2,409     $ 4,247     $ 6,483     $ 9,334  

 

 

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:

 

    2025     2024     2025     2024  
    Three Months Ended
June 30,
    Six Months Ended
June 30,
 
    2025     2024     2025     2024  
    (In thousands)     (In thousands)  
Cost of 3D Printer   $ 474     $ 269     $ 613     $ 658  
Cost of Support services     125       138       194       333  
Research and development     613       1,130       1,256       2,680  
Selling and marketing     368       862       607       1,916  
General and administrative     829       1,848       3,813       3,747  
Stock based compensation expense   $ 2,409     $ 4,247     $ 6,483     $ 9,334