Quarterly report [Sections 13 or 15(d)]

Equity Incentive Plans and Stock-Based Compensation (Tables)

v3.25.1
Equity Incentive Plans and Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]  
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

 

 

376

 

 

$

21.35

 

 

 

6.2

 

Granted

 

 

 

 

$

 

 

 

 

Exercised

 

 

(46

)

 

$

6.30

 

 

 

 

Forfeited or expired

 

 

(4

)

 

$

28.35

 

 

 

 

Outstanding as of March 31, 2024

 

 

326

 

 

$

23.45

 

 

 

5.9

 

Options vested and expected to vest as of March 31, 2024

 

 

326

 

 

$

23.45

 

 

 

 

Vested and exercisable as of March 31, 2024

 

 

311

 

 

$

23.80

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding as of December 31, 2024

 

 

271

 

 

$

25.38

 

 

 

5.0

 

Granted

 

 

 

 

$

 

 

 

 

Exercised

 

 

 

 

$

 

 

 

 

Forfeited or expired

 

 

(53

)

 

$

13.17

 

 

 

 

Outstanding as of March 31, 2025

 

 

218

 

 

$

28.92

 

 

 

5.0

 

Options vested and expected to vest as of March 31, 2025

 

 

218

 

 

$

28.92

 

 

 

 

Vested and exercisable as of March 31, 2025

 

 

218

 

 

$

28.92

 

 

 

 

Schedule of Nonvested Restricted Stock Units Activity

The following table summarizes outstanding and expected to vest RSUs as of March 31, 2025 and 2024 and their activity during the three months ended March 31, 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

 

 

573

 

 

$

67.90

 

 

$

228

 

Granted

 

 

32

 

 

 

12.25

 

 

 

11

 

Released

 

 

(48

)

 

 

84.35

 

 

 

13

 

Cancelled

 

 

(36

)

 

 

67.20

 

 

 

14

 

Balance as of March 31, 2024

 

 

522

 

 

$

63.00

 

 

$

238

 

Expected to vest as of March 31, 2024

 

 

522

 

 

$

63.00

 

 

$

238

 

 

 

 

 

 

 

 

 

 

 

Balance as of December 31, 2024

 

 

195

 

 

$

47.62

 

 

$

132

 

Granted

 

 

709

 

 

 

0.29

 

 

 

206

 

Released

 

 

(733

)

 

 

1.76

 

 

 

199

 

Cancelled

 

 

(18

)

 

 

51.40

 

 

 

20

 

Balance as of March 31, 2025

 

 

153

 

 

$

47.57

 

 

$

25

 

Expected to vest as of March 31, 2025

 

 

153

 

 

$

47.57

 

 

$

25

 

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:

 

 

Three Months Ended
March 31,

 

 

2025

 

 

2024

 

 

(In thousands)

 

Restricted stock units

 

$

3,591

 

 

$

3,829

 

Stock options

 

 

4

 

 

 

60

 

Earnout shares–employees

 

 

479

 

 

 

1,198

 

 

$

4,074

 

 

$

5,087

 

 

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:

 

 

Three Months Ended
March 31,

 

 

2025

 

 

2024

 

 

(In thousands)

 

Cost of 3D Printer

 

$

140

 

 

$

389

 

Cost of Support services

 

 

68

 

 

 

195

 

Research and development

 

 

643

 

 

 

1,550

 

Selling and marketing

 

 

240

 

 

 

1,054

 

General and administrative

 

 

2,983

 

 

 

1,899

 

 

$

4,074

 

 

$

5,087