Equity Incentive Plans & Stock-Based Compensation (Tables)
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12 Months Ended |
Dec. 31, 2023 |
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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) |
Outstanding as of December 31, 2021 |
21,191 |
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$0.58 |
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8.2 |
| Granted |
— |
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$— |
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| Exercised |
(2,981) |
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$0.41 |
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| Forfeited or expired |
(1,250) |
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$1.60 |
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Outstanding as of December 31, 2022 |
16,960 |
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$0.54 |
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7.3 |
Options vested and expected to vest as of December 31, 2022 |
16,960 |
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$0.54 |
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Vested and exercisable as of December 31, 2022 |
11,000 |
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$0.65 |
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Outstanding as of December 31, 2022 |
16,960 |
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$0.54 |
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7.3 |
| Granted |
— |
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$— |
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| Exercised |
(2,204) |
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$0.26 |
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| Forfeited or expired |
(1,604) |
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$0.29 |
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Outstanding as of December 31, 2023 |
13,152 |
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$0.61 |
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6.2 |
Options vested and expected to vest as of December 31, 2023 |
13,152 |
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$0.61 |
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Vested and exercisable as of December 31, 2023 |
12,267 |
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$0.62 |
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| Schedule of Outstanding and Expected to Vest RSUs |
The following table summarizes outstanding and expected to vest RSUs as of December 31, 2023 and 2022 and their activity during the year ended December 31, 2023 and 2022:
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Number of Shares |
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Weighted-Average
Grant Date Fair Value
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Aggregate Intrinsic Value |
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(In thousands) |
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(Per Share Data) |
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(In thousands) |
Balance as of December 31, 2021 |
4,041 |
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$ |
7.26 |
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$ |
29,476 |
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Granted |
7,996 |
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3.57 |
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28,338 |
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Released |
(1,348) |
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6.26 |
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4,472 |
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Cancelled |
(971) |
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6.07 |
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3,521 |
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Balance as of December 31, 2022
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9,718 |
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$ |
4.48 |
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$ |
17,396 |
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Expected to vest as of December 31, 2022 |
9,718 |
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$ |
4.48 |
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$ |
17,396 |
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Balance as of December 31, 2022 |
9,718 |
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$ |
4.48 |
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$ |
17,396 |
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Granted |
21,324 |
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1.54 |
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32,819 |
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Released |
(5,527) |
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3.22 |
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9,154 |
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Cancelled |
(5,449) |
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3.56 |
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7,734 |
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Balance as of December 31, 2023
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20,066 |
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$ |
1.94 |
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$ |
7,978 |
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Expected to vest as of December 31, 2023 |
20,066 |
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$ |
1.94 |
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$ |
7,978 |
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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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2023 |
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2022 |
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(In thousands) |
| Restricted stock units |
$ |
16,575 |
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$ |
10,723 |
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| Stock options |
515 |
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1,690 |
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| Earnout shares - employees |
5,783 |
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7,737 |
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$ |
22,873 |
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$ |
20,150 |
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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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2023 |
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2022 |
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(In thousands) |
| Research and development |
$ |
11,415 |
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$ |
9,849 |
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| Selling and marketing |
5,689 |
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4,554 |
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| General and administrative |
5,769 |
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5,747 |
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$ |
22,873 |
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$ |
20,150 |
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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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2023 |
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2022 |
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(In thousands) |
| Restricted stock units |
$ |
1,995 |
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$ |
— |
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| Stock options |
63 |
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— |
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$ |
2,058 |
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$ |
— |
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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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2023 |
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2022 |
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(In thousands) |
Cost of 3D Printer |
$ |
1,622 |
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$ |
— |
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Cost of support services |
436 |
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— |
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$ |
2,058 |
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$ |
— |
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