0000950170-21-001384 | 10-Q | XBRL Viewer

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Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2021	Aug. 10, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Registrant Name	SIGHT SCIENCES, INC.
Entity Central Index Key	0001531177
Entity File Number	001-40587
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	80-0625749
Entity Address, Address Line One	4040 Campbell Ave
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	Menlo Park
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94025
City Area Code	877
Local Phone Number	266-1144
Title of 12(b) Security	Common Stock, par value $0.001
Trading Symbol	SGHT
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Security Exchange Name	NASDAQ
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Small Business	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		47,265,164

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 35,572	$ 61,511
Accounts receivable, net	6,887	5,363
Inventory, net	2,576	2,598
Prepaid expenses and other current assets	2,359	1,161
Total current assets	47,394	70,633
Property and equipment, net	1,418	1,269
Operating lease ROU assets	231	518
Other noncurrent assets	3,467	386
Total assets	52,510	72,806
Current liabilities:
Accounts payable	3,224	2,158
Accrued compensation	4,083	4,070
Accrued and other current liabilities	4,754	3,086
Total current liabilities	12,061	9,314
Long-term debt	32,302	31,955
Other noncurrent liabilities	8,105	3,055
Total liabilities	52,468	44,324
Commitments and contingencies (Note 6)
Stockholders’ deficit:
Common stock par value of $0.001 per share; 21,831,000 shares authorized as of June 30, 2021 and December 31, 2020, respectively; 9,732,032 and 9,509,182 shares issued and outstanding as of June 30, 2021 and December 31, 2020, respectively	9	9
Additional paid-in-capital	2,598	1,183
Accumulated deficit	(119,896)	(90,041)
Total stockholders’ deficit	(117,289)	(88,849)
Total liabilities, redeemable convertible preferred stock and stockholders’ equity deficit	52,510	72,806
Redeemable Convertible Preferred Stock
Redeemable convertible preferred stock:
Convertible preferred stock, $0.001 par value; 14,241,390 shares authorized as of June 30, 2021 and December 31, 2020; 12,767,202 shares issued and outstanding as of June 30, 2021 and December 31, 2020; aggregate liquidation preference of $118.6 million as of June 30, 2021 and December 31, 2020	$ 117,331	$ 117,331

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	21,831,000	21,831,000
Common stock, shares issued	9,732,032	9,509,182
Common stock, shares outstanding	9,732,032	9,509,182
Redeemable Convertible Preferred Stock
Convertible preferred stock, par value	$ 0.001	$ 0.001
Convertible preferred stock, shares authorized	14,241,390	14,241,390
Convertible preferred stock, shares issued	12,767,202	12,767,202
Convertible preferred stock, shares outstanding	12,767,202	12,767,202
Convertible preferred stock, aggregate liquidation preference	$ 118,626	$ 118,626

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Statement [Abstract]
Revenue	$ 12,535	$ 3,502	$ 21,170	$ 9,998
Cost of goods sold	2,305	2,085	4,606	4,213
Gross profit	10,230	1,417	16,564	5,785
Operating expenses:
Research and development	3,546	1,443	6,986	3,843
Selling, general and administrative	17,760	7,664	32,310	18,342
Total operating expenses	21,306	9,107	39,296	22,185
Loss from operations	(11,076)	(7,690)	(22,732)	(16,400)
Interest income		2		29
Interest expense	(1,082)	(549)	(2,166)	(1,101)
Other income (expense), net	(5,435)	(73)	(4,883)	18
Loss before income taxes	(17,593)	(8,310)	(29,781)	(17,454)
Provision for income taxes	22	6	74	37
Net loss and comprehensive loss	$ (17,615)	$ (8,316)	$ (29,855)	$ (17,491)
Net loss per share attributable to common stockholders, basic and diluted	$ (1.83)	$ (0.88)	$ (3.12)	$ (1.85)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted	9,610,408	9,457,893	9,564,096	9,453,640

Condensed Statements of Redeemable Convertible Preferred Stock and Stockholders' Deficit (Unaudited) - USD ($) $ in Thousands	Total	Redeemable Convertible Preferred Stock	Common Stock	Additional Paid-In Capital	Accumulated Deficit
Beginning Balance at Dec. 31, 2019		$ 64,256
Beginning Balance, shares at Dec. 31, 2019		9,804,640
Beginning Balance at Dec. 31, 2019	$ (54,683)		$ 9	$ 656	$ (55,348)
Beginning Balance, shares at Dec. 31, 2019			9,319,466
Issuance of Series E convertible preferred stock		$ 30,055
Issuance of Series E convertible preferred stock, shares		1,899,847
Issuance of common stock upon exercise of stock options	1			1
Issuance of common stock upon exercise of stock options, shares			1,500
Stock-based compensation expense	61			61
Net loss	(9,175)				(9,175)
Ending Balance at Mar. 31, 2020		$ 94,311
Ending Balance, shares at Mar. 31, 2020		11,704,487
Ending Balance at Mar. 31, 2020	(63,796)		$ 9	718	(64,523)
Ending Balance, shares at Mar. 31, 2020			9,320,966
Beginning Balance at Dec. 31, 2019		$ 64,256
Beginning Balance, shares at Dec. 31, 2019		9,804,640
Beginning Balance at Dec. 31, 2019	(54,683)		$ 9	656	(55,348)
Beginning Balance, shares at Dec. 31, 2019			9,319,466
Net loss	(17,491)
Ending Balance at Jun. 30, 2020	(72,040)	$ 94,299	$ 9	790	(72,839)
Ending Balance, shares at Jun. 30, 2020		11,704,487	9,341,486
Beginning Balance at Mar. 31, 2020		$ 94,311
Beginning Balance, shares at Mar. 31, 2020		11,704,487
Beginning Balance at Mar. 31, 2020	(63,796)		$ 9	718	(64,523)
Beginning Balance, shares at Mar. 31, 2020			9,320,966
Issuance of Series E convertible preferred stock	0	$ 12		0
Issuance of Series E convertible preferred stock, shares			0
Issuance of common stock upon exercise of stock options	7			7
Issuance of common stock upon exercise of stock options, shares			20,520
Stock-based compensation expense	65			65	0
Net loss	(8,316)				(8,316)
Ending Balance at Jun. 30, 2020	(72,040)	$ 94,299	$ 9	790	(72,839)
Ending Balance, shares at Jun. 30, 2020		11,704,487	9,341,486
Beginning Balance at Dec. 31, 2020		$ 117,331
Beginning Balance, shares at Dec. 31, 2020		12,767,202
Beginning Balance at Dec. 31, 2020	(88,849)		$ 9	1,183	(90,041)
Beginning Balance, shares at Dec. 31, 2020			9,509,182
Issuance of common stock upon exercise of stock options	11			11
Issuance of common stock upon exercise of stock options, shares			16,862
Stock-based compensation expense	277			277
Net loss	(12,240)				(12,240)
Ending Balance at Mar. 31, 2021		$ 117,331
Ending Balance, shares at Mar. 31, 2021		12,767,202
Ending Balance at Mar. 31, 2021	(100,801)		$ 9	1,471	(102,281)
Ending Balance, shares at Mar. 31, 2021			9,526,044
Beginning Balance at Dec. 31, 2020		$ 117,331
Beginning Balance, shares at Dec. 31, 2020		12,767,202
Beginning Balance at Dec. 31, 2020	$ (88,849)		$ 9	1,183	(90,041)
Beginning Balance, shares at Dec. 31, 2020			9,509,182
Issuance of common stock upon exercise of stock options, shares	222,850
Net loss	$ (29,855)
Ending Balance at Jun. 30, 2021		$ 117,331
Ending Balance, shares at Jun. 30, 2021		12,767,202
Ending Balance at Jun. 30, 2021	(117,289)		$ 9	2,598	(119,896)
Ending Balance, shares at Jun. 30, 2021			9,732,032
Beginning Balance at Mar. 31, 2021		$ 117,331
Beginning Balance, shares at Mar. 31, 2021		12,767,202
Beginning Balance at Mar. 31, 2021	(100,801)		$ 9	1,471	(102,281)
Beginning Balance, shares at Mar. 31, 2021			9,526,044
Issuance of common stock upon exercise of stock options	196			196
Issuance of common stock upon exercise of stock options, shares			205,988
Stock-based compensation expense	931			931
Net loss	(17,615)				(17,615)
Ending Balance at Jun. 30, 2021		$ 117,331
Ending Balance, shares at Jun. 30, 2021		12,767,202
Ending Balance at Jun. 30, 2021	$ (117,289)		$ 9	$ 2,598	$ (119,896)
Ending Balance, shares at Jun. 30, 2021			9,732,032

Condensed Statements of Redeemable Convertible Preferred Stock and Stockholders' Deficit (Unaudited) (Parenthetical) $ in Thousands	3 Months Ended
	Mar. 31, 2020 USD ($)
Series E Convertible Preferred Stock
Issuance costs	$ 94

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities
Net loss	$ (29,855)	$ (17,491)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	289	288
Accretion of debt discount and amortization of debt issuance costs	346	280
Stock-based compensation expense	1,208	126
Provision for doubtful accounts receivable	104	229
Provision for excess and obsolete inventories	276	841
Noncash operating lease expense	310	270
Change in fair value of redeemable convertible preferred stock warrant	4,872	(19)
Loss on disposal of property and equipment	74	74
Proceeds from Paycheck Protection Program loan		(2,246)
Changes in operating assets and liabilities:
Accounts receivable	(1,628)	880
Inventory	(255)	(1,138)
Prepaid expenses and other current assets	(1,197)	(288)
Other noncurrent assets	(3,081)
Accounts payable	1,438	752
Accrued compensation	13	(311)
Accrued and other current liabilities	1,594	2,288
Other noncurrent liabilities	186	456
Net cash used in operating activities	(25,306)	(15,009)
Cash flows from investing activities
Purchases of property and equipment	(369)	(532)
Net cash used in investing activities	(369)	(532)
Cash flows from financing activities
Payments of costs related to initial public offering	(471)
Proceeds from the issuance of Series E redeemable convertible preferred stock		30,150
Series E issuance costs		(106)
Proceeds from exercise of common stock warrants	207	8
Net cash (used in) provided by financing activities	(264)	30,052
Net change in cash and cash equivalents	(25,939)	14,511
Cash and cash equivalents at beginning of period	61,511	21,237
Cash and cash equivalents at end of period	35,572	35,748
Supplemental disclosure of cash flow information
Cash paid for interest	1,548	623
Supplemental noncash disclosure
Acquisition of property and equipment included in accounts payable and accrued liabilities	181	66
Unpaid initial public offering costs in accounts payable and accrued liabilities	$ 2,764	$ 0

Company and Nature of Business

6 Months Ended

Jun. 30, 2021

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Company and Nature of Business

Note 1. Company and Nature of Business

Description of Business

Sight Sciences, Inc. (the “Company”) was incorporated in the state of Delaware in 2010. The Company is an ophthalmic medical device company focused on the development and commercialization of surgical and nonsurgical technologies for the treatment of prevalent eye diseases. The Company’s surgical glaucoma product portfolio features the OMNI Surgical System, a device that facilitates the performance of both trabeculotomy and canaloplasty with a single device and single corneal incision. The Company’s nonsurgical dry eye product portfolio consists of the TearCare System ("TearCare") for ophthalmologists and optometrists. TearCare is a wearable eyelid technology that delivers highly targeted and adjustable heat to the meibomian glands of the eyelids.

The Company is located and headquartered in Menlo Park, California. The Company also operates an office in Southlake, Texas.

Stock Split

On July 7, 2021 the Company effected a 2-for-1 stock split of its issued and outstanding shares of common stock and a proportional adjustment to the existing conversion ratios for each series of the Company’s redeemable convertible preferred stock. Accordingly, all share and per share amounts for all periods presented in the accompanying condensed consolidated financial statements and notes thereto have been adjusted retroactively, where applicable, to reflect this stock split and adjustment of the redeemable convertible preferred stock conversion ratios.

Initial Public Offering

On July 19, 2021, the Company closed its initial public offering (“IPO”) of its common stock in which the Company issued and sold 10,000,000 shares of its common stock, and sold an additional 1,500,000 shares of common stock upon the full exercise of the underwriters’ option to purchase additional shares at $24.00 per share, raising approximately $253.0 million in proceeds, net of underwriting discounts and commissions of $19.3 million and estimated offering costs of $3.7 million, of which $3.3 million were incurred as of June 30, 2021.

Immediately prior to the closing of the IPO, all then-outstanding shares of redeemable convertible preferred stock were converted into 25,534,404 shares of common stock. Further, all outstanding redeemable convertible preferred stock warrants were converted into warrants to purchase 659,028 shares of common stock (see Note 9). The condensed consolidated financial statements as of June 30, 2021, including share and per share amounts, do not give effect to the IPO or the conversion of the convertible preferred stock into common stock, as the IPO and such conversions were completed subsequent to June 30, 2021.

Significant Risks and Uncertainties

Since inception, the Company has incurred losses and negative cash flows from operations. As of June 30, 2021, the Company had an accumulated deficit of $119.9 million and recorded a net loss of $29.9 million for the six months then ended and expects to incur future additional losses. If the Company’s revenue levels from its products are not sufficient or if the Company is unable to secure additional funding when desired, the Company may need to delay the development of its products and scale back its business and operations.

The Company believes that its existing sources of liquidity will satisfy its working capital and capital requirements for at least 12 months from the issuance of its financial statements. Failure to generate sufficient revenues, achieve planned gross margins, or control operating costs will require the Company to raise additional capital through equity or debt financing. Such additional financing may not be available on acceptable terms, or at all, and could require the Company to modify, delay, or abandon some of its planned future expansion or expenditures or reduce some of its ongoing operating costs, which could harm its business, operating results, financial condition, and ability to achieve its intended business objectives.

On March 11, 2020, the World Health Organization declared the coronavirus disease 2019 (“COVID-19”) outbreak a global pandemic recommending containment measures worldwide. On March 16, 2020 the Company implemented alternative work arrangements for its employees and limited its employees’ travel activities to protect its employees and to comply with the provisions described within the local shelter in place order. Certain U.S. federal, state and local governmental authorities issued other orders and directives, including restrictions on elective procedures and therapies, aimed at minimizing the spread of COVID-19. As such, the COVID-19 pandemic impacted and is expected to continue to impact demand for the Company’s products, which are used in procedures and therapies that are considered elective. Although some of the governmental restrictions have since been lifted or scaled back, recent and future surges of COVID-19, including recent surges in the delta variant of COVID-19, may result in restrictions being re-implemented in response to efforts to reduce the spread of COVID-19.

The ultimate impact of the COVID-19 pandemic on the Company’s operations is unknown and will depend on future developments which are highly uncertain and cannot be predicted with confidence, including the duration and severity of the COVID-19 outbreak (including prevalence and effect of the delta variant and other potential COVID-19 variants), the status of health and safety actions taken to contain its spread and any additional preventative and protective actions that governments, or the Company, may direct, any resurgence of COVID-19 that may occur and how quickly and to what extent economic and operating conditions normalize within the markets in which the Company operates. The COVID-19 pandemic could disrupt the operations of the Company’s third-party manufacturers and other suppliers. Although the Company has not experienced disruptions in its supply chain to date, it cannot predict how long the pandemic and measures intended to contain the spread of COVID-19 will continue and what effect COVID-19 and the associated containment measures will have on our suppliers and vendors, in particular for any of the Company’s suppliers and vendors that may not qualify as essential businesses and suffer more significant disruptions to their business operations. The Company is working closely with its manufacturing partners and suppliers to help ensure the Company is able to source key components and maintain appropriate inventory levels to meet customer demand.

Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2021

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Note 2. Summary of Significant Accounting Policies

Basis of Presentation

The accompanying condensed consolidated financial statements are unaudited and have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) applicable to interim periods. The condensed consolidated financial statements, in the opinion of management, include all normal and recurring adjustments necessary to present fairly the Company’s financial position and results of operations for the reported periods. These condensed consolidated financial statements have been prepared on a basis substantially consistent with, and should be read in conjunction with the audited financial statements for the year ended December 31, 2020 and notes thereto included in the prospectus, dated July 14, 2021, filed with the Securities and Exchange Commission ("SEC") in accordance with Rule 424(b) of the Securities Act on July 15, 2021 (the "Prospectus") in connection with our IPO that forms a part of the Company's Registration Statements on Form S-1 (File No. 333-257320), as filed with the SEC pursuant to Rule 424(b)(4) promulgated under the Securities Act, as amended. Certain information and note disclosures normally included in the audited financial statements prepared in accordance with GAAP have been condensed or omitted from this report. The results of operations for any interim period are not necessarily indicative of the results for the year ending December 31, 2021, or for any future period.

The accompanying condensed consolidated financial statements reflect the operations of the Company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated.

Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expense during the reporting period. The most significant estimates related to inventory excess and obsolescence, the selection of useful lives of property and equipment, determination of the fair value of stock option grants, the fair value of the redeemable convertible preferred stock warrants, and provisions for income taxes and contingencies. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic

environment, and makes adjustments when facts and circumstances dictate. These estimates are based on information available as of the date of the financial statements. Actual results could differ from these estimates and such differences could be material to the Company’s financial position and results of operations.

Fair Value of Financial Instruments

The Company’s financial instruments consist of cash and cash equivalents, accounts receivable, accounts payable, accrued liabilities, redeemable convertible preferred stock, short-term and long-term debt and redeemable convertible preferred stock warrant liability. The Company states accounts receivable, accounts payable, and accrued and other current liabilities at their carrying value, which approximates fair value due to the short time to the expected receipt or payment. The carrying amount of the Company’s short-term debt approximates its fair value as the effective interest rate approximates market rates currently available to the Company. The redeemable convertible preferred stock warrant liability associated with the Company’s redeemable convertible preferred stock is carried at fair value based on unobservable market inputs.

Deferred Offering Costs

Deferred offering costs, consisting of legal, accounting and other fees and costs relating to the Company’s IPO, were deferred until completion of the IPO. As of June 30, 2021 and December 31, 2020 deferred offering costs of $3.3 million and $0.4 million, respectively, were capitalized and are included in “Other noncurrent assets”. In July 2021, upon closing of the IPO, all deferred costs were offset against the Company's IPO proceeds.

Accounting for Payroll Protection Program

In March 2020, Congress established the Paycheck Protection Program (“PPP”) to provide relief to small businesses during COVID-19 as part of the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act. The legislation authorized the U.S. Treasury to use the Small Business Association’s (“SBA’s”) small business lending program to fund forgivable loans that qualifying businesses could spend to cover payroll, mortgage interest, rent, and utilities during the “Covered Period” defined as the 8-week period starting on the date the PPP loan proceeds are received. Upon meeting certain criteria as specified in the PPP program, the loans are eligible for partial or total forgiveness. In May 2020, the Company applied for and received a PPP loan for the amount $2.2 million from SBA. We believe we have satisfied all of the terms and conditions of the PPP loan and applied for loan forgiveness in September 2020. The PPP loan was forgiven in June 2021.

GAAP does not contain authoritative accounting standards for forgivable loans provided by governmental entities to a for-profit entity. Absent authoritative accounting standards, interpretative guidance issued and commonly applied by financial statement preparers allows for the selection of accounting policies amongst acceptable alternatives. The Company determined it most appropriate to account for the PPP loan proceeds as an in-substance government grant by analogy to International Accounting Standards 20 (“IAS 20”) Accounting for Government Grants and Disclosure of Government Assistance. Under this guidance, a forgivable loan from government is treated as a government grant when there is reasonable assurance that the entity will meet the terms for forgiveness of the loan. While IAS 20 does not define “reasonable assurance”, this concept in practice is analogous to “probable” as defined in Financial Accounting Standards Board (“FASB”) ASC 450-20-20 under GAAP, which is the definition the Company has applied to its expectations of PPP loan forgiveness. Under IAS 20, government grants are recognized in earnings on a systematic basis over the periods in which the Company recognizes costs for which the grant is intended to compensate (i.e. qualified expenses). Further, IAS 20 permits for the recognition in earnings either separately under a general heading such as other income, or as a reduction of the related expenses.

New Accounting Pronouncements Not Yet Adopted

In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which amends the impairment model by requiring entities to use a forward-looking approach based on expected losses to estimate credit losses on certain types of financial instruments, including trade receivables and available-for-sale debt securities. The guidance is effective for the

Company beginning in the first quarter of 2023. The Company is evaluating the impact of adopting this guidance and does not expect to have a material impact on the Company’s financial statements and related disclosures.

In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, that simplifies the accounting for income taxes by eliminating certain exceptions related to the approach for intra-period tax allocation and modified the methodology for calculating income taxes in an interim period. It also clarifies and simplifies other aspects of the accounting for income taxes. The guidance is effective for the Company for fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022 with early adoption permitted. The Company is evaluating the effect of this new guidance and does not expect it to have material impact on the Company’s financial statements.

In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The new guidance provides optional expedients and exceptions for applying generally accepted accounting principles to contract modifications and hedging relationships, subject to meeting certain criteria, that reference LIBOR or another reference rate expected to be discontinued. The guidance also establishes (1) a general contract modification principle that entities can apply in other areas that may be affected by reference rate reform and (2) certain elective hedge accounting expedients. The amendment is effective for all entities through December 31, 2022. LIBOR is used to calculate the interest on borrowings under the Company’s term loan and revolving line of credit with MidCap Financial Services. The Company is evaluating the effect of this new guidance and does not expect it to have material impact on the Company’s financial statements.

Fair Value Measurements

6 Months Ended

Jun. 30, 2021

Fair Value Disclosures [Abstract]

Fair Value Measurements

Note 3. Fair Value Measurements

The Company reports all financial assets and liabilities and nonfinancial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The authoritative guidance establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to measurements involving significant unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows:

Level 1—Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date.

Level 2—Inputs are observable, unadjusted quoted prices in active markets for similar assets or liabilities, unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the related assets or liabilities.

Level 3—Inputs are unobservable inputs for the asset or liability. The level in the fair value hierarchy within which a fair value measurement in its entirety is based on the lowest-level input that is significant to the fair value measurement in its entirety.

The financial statements as of June 30, 2021 and December 31, 2020, do not include any nonrecurring fair value measurements relating to assets or liabilities.

The fair value measurements of liabilities that are measured at fair value on a recurring basis at June 30, 2021 and December 31, 2020, are as follows (in thousands):


	As of June 30, 2021
	Level 1		Level 2		Level 3		Total
Liabilities:
Redeemable convertible preferred stock warrants liabilities	$	—	$	—	$	6,984	$	6,984
Total liabilities measured at fair value	$	—	$	—	$	6,984	$	6,984


	As of December 31, 2020
	Level 1		Level 2		Level 3		Total
Liabilities:
Redeemable convertible preferred stock warrants liabilities	$	—	$	—	$	2,112	$	2,112
Total liabilities measured at fair value	$	—	$	—	$	2,112	$	2,112

The Company measures the redeemable convertible preferred stock warrants using Level 3 unobservable inputs within the Black-Scholes option-pricing model. The key assumptions include the fair value of redeemable convertible preferred stock, volatility, the risk-free interest rate, expected term (remaining contractual term of the warrants) and dividend yield. The Company has limited historical volatility information available, and the expected volatility was based on actual volatility for comparable public companies projected over the expected terms of the warrants. The Company did not apply a forfeiture rate to the warrants as there is not enough historical information available to estimate such a rate. The risk-free interest rate was based on the U.S. Treasury yield curve at the time of the grant over the expected term of the warrants. Refer to Note 9 for the assumptions used.

The Company measures the fair value of outstanding debt for disclosure purposes on a recurring basis. As of June 30, 2021 and December 31, 2020, total debt of $32.3 million and $31.9 million is reported at amortized cost, respectively. This outstanding debt is classified as Level 2 as it is not actively traded. The amortized cost of the outstanding debt approximates the fair value.

The Company determines the fair value of the redeemable convertible preferred stock warrants quarterly, with subsequent gains and losses from remeasurement of Level 3 financial liabilities recorded through other income (expense), net in condensed statements of operations and comprehensive loss.

A summary of the changes in the fair value of the Company’s Level 3 financial instruments for the three and six months ended June 30, 2021 and 2020, is as follows (in thousands):


	Redeemable convertible preferred stock warrants liabilities
Balance – December 31, 2020	$	2,112
Change in fair value		(555	)
Balance – March 31, 2021		1,557
Change in fair value		5,427
Balance – June 30, 2021	$	6,984


	Redeemable convertible preferred stock warrants liabilities
Balance – December 31, 2019	$	236
Change in fair value		(92	)
Balance – March 31, 2020		144
Change in fair value		73
Balance – June 30, 2020	$	217

Balance Sheet Components

6 Months Ended

Jun. 30, 2021

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Balance Sheet Components

Note 4. Balance Sheet Components

Property and Equipment, Net

Property and equipment, net consist of the following (in thousands):


	As of June 30,			As of December 31,
	2021			2020
Tools and equipment	$	1,552		$	1,523
Computer equipment and software		108			118
Furniture and fixtures		43			43
Leasehold improvements		30			30
Construction in process		604			298
		2,337			2,012
Less: Accumulated depreciation		(919	)		(743	)
Property and equipment, net	$	1,418		$	1,269

Depreciation expense was $0.2 million and $0.3 million for the three and six months ended June 30, 2021, respectively. Depreciation expense was $0.2 million and $0.3 million for the three and six months ended June 30, 2020, respectively.

Accrued and Other Current Liabilities

Accrued and other current liabilities consist of the following (in thousands):


	As of June 30,		As of December 31,
	2021		2020
Accrued expenses	$	3,919	$	1,971
Current portion of lease liabilities		112		395
Short term interest payable		267		274
Other accrued liabilities		456		446
Total accrued and other current liabilities	$	4,754	$	3,086

Other Noncurrent Liabilities

Other noncurrent liabilities consist of the following (in thousands):


	As of June 30,		As of December 31,
	2021		2020
Redeemable preferred stock warrants liabilities	$	6,984	$	2,112
Long term interest payable		651		465
Noncurrent portion of lease liabilities		125		134
Other noncurrent liabilities		345		344
Total other noncurrent liabilities	$	8,105	$	3,055

Debt

6 Months Ended

Jun. 30, 2021

Debt Disclosure [Abstract]

Debt

Note 5. Debt

In January 2019, the Company entered into a loan and security agreement with MidCap Financial Services, which provided a maximum of $25.0 million credit facility consisting of a $20.0 million senior secured 2019 Term Loan and a $5.0 million 2019 Revolver (collectively, the “2019 MidCap Credit Facility”). In November 2020, the Company entered into a loan and security agreement with the same institution, which replaced the 2019 MidCap Credit Facility, and provided for a maximum of $40.0 million credit facility consisting of a $35.0 million senior secured 2020 Term Loan and a $5.0 million 2020 Revolver (collectively, the “2020 MidCap Credit Facility”).

2019 Term Loan

The 2019 Term Loan had a four-year term and had a stated floating interest rate which equates to reserve- adjusted LIBOR + 6.75%. The 2019 Term Loan was split into three tranches as follows: (i) the Tranche One Loans provided for $12.0 million in term loans, (ii) the Tranche Two Loans provided for up to $2.0 million in term loans, and (iii) the Tranche Three Loans provided for up to $6.0 million in term loans. The Company borrowed $14.0 million under the Tranche One Loans and Tranche Two Loans. While the conditions necessary to draw the Tranche Three Loans had been met as of December 31, 2019, the Company did not elect to draw the Tranche Three Term Loans. The 2019 Term Loan required 18 monthly interest-only payments, which began on January 31, 2019, followed by 30 equal monthly installments of principal, plus interest. The interest-only period was extended by an additional six months upon achievement of the Tranche Three Milestone.

The 2019 Term Loan had an effective interest rate of 14.52% per year. The 2019 Term Loan interest expense for the three months ended June 30, 2021 and 2020 was $0.0 and $0.5 million, respectively. The 2019 Term Loan interest expense for the six months ended June 30, 2021 and 2020 was $0.0 and $1.1 million, respectively.

In conjunction with the funding of Tranche 1 and Tranche 2 under the 2019 Term Loan, the Company issued a 10-year warrant to the Lender to purchase 29,514 shares of the Company’s Series C redeemable convertible preferred stock (the “2019 Initial Warrant”) at an exercise price of $9.49 per share (the “Exercise Price”). Further, depending on the funding of the Term Loan Tranche 3, the Company was obligated to issue an additional Warrant to the Lender to purchase up to 12,649 shares of Series C redeemable convertible preferred stock at the Exercise Price (the “2019 Additional Warrant” and together with “2019 Initial Warrant” the “2019 Warrants”) (see Note 9).

The estimated fair value of the 2019 Warrants of $0.2 million upon draw down was based on the Black- Scholes option-pricing model and probability of future draw downs. The 2019 Warrants were recorded at the fair value as a debt discount and as a warrant liability. The debt discount was being accreted using the effective interest method as interest expense over the contractual period of four years for the 2019 Term Loan.

The Company incurred $1.5 million of issuance costs in conjunction with the 2019 Term Loan. The issuance costs were netted against the borrowed funds in the condensed consolidated balance sheet and were accreted using the effective interest method as interest expense over the contractual period of four years for the 2019 Term Loan.

The Company could voluntarily prepay the 2019 Term Loan borrowings in full, with a prepayment premium beginning at 3% in the first year from tranche funding, to 2% in the second year from tranche funding, to 1% in the third year from tranche funding thereafter. In addition, a final payment fee of 5% of the amounts borrowed was payable at the end of the term or when the borrowings were repaid in full. A long-term liability was being accreted using the effective interest method for the final payment fee over the term of the loan agreement. The borrowings were collateralized by a security interest in substantially all of the Company’s assets.

The Company was subject to financial covenants related to minimum trailing revenue targets that began on January 1, 2019, and are tested on a monthly basis. If only Tranche One Loans were funded, the Company had to achieve minimum net revenue of $7 million over a trailing 12-month period increasing to a maximum net revenue covenant of $35 million for the trailing 12-month period ending December 31, 2022, and thereafter. If only Tranche One Loans and Tranche Two Loans had been funded, the Company had to achieve minimum net revenue of $7 million over a trailing 12-month period increasing to a maximum net revenue covenant of $37.3 million for the 12-month period ending December 31, 2022, and thereafter. If Tranche Three Loans had been funded regardless of whether Tranche Two Loans have been funded, the Company had to achieve minimum net revenue of $15 million over a trailing 12-month period increasing to a maximum net revenue covenant of $46.7 million for the 12-month period ending December 31, 2022, and thereafter.

On November 23, 2020, the 2019 Term Loan was replaced with 2020 Term Loan (see below).

2019 Revolver

The 2019 Revolver had a four-year term and has a stated floating interest rate which equates to reserve- adjusted LIBOR plus 4.25%. An unused line fee of 0.5% was payable monthly based on the average unused balance

and a collateral management fee of 0.5% was payable monthly based on the outstanding balance of the Revolver. The Company could request to increase the 2019 Revolver commitment amount to $10.0 million under the term of the agreement. On November 23, 2020, the 2019 Revolver was replaced with the 2020 Revolver (see below).

2020 Term Loan

The 2020 Term Loan has a five-year term and has a stated floating interest rate which equates to reserve- adjusted LIBOR + 7.00%. The 2020 Term Loan is split into three tranches as follows: (i) the Tranche One Loans provide for $12.0 million in term loans which are deemed to have been converted from Tranche One Loans that were drawn and outstanding under the 2019 Term Loan immediately prior to entering into 2020 MidCap Credit Facility, (ii) the Tranche Two Loans provided for up to $2.0 million in term loans which are deemed to have been converted from Tranche Two Loans that were drawn and outstanding under the 2019 Term Loan immediately prior to entering into 2020 MidCap Credit Facility, and (iii) the Tranche Three Loans provided for up to $21.0 million in new term loans. The Company borrowed $21.0 million under the Tranche Three Loans in November 2020.

The 2020 Term Loan requires 24 monthly interest-only payments, which began on December 1, 2020, followed by 36 equal monthly installments of principal, plus interest. The interest-only period can be extended by an additional 12 months provided that the Company is in compliance with the minimum trailing revenue targets (as described below), and has unrestricted cash and cash equivalents of at least 12 times of the amortization monthly cash burn amount, measured as defined in the 2020 Term Loan agreement (“First IO Extension”). If the First IO Extension conditions are satisfied, the interest-only period can be further extended by an additional 12 months, provided that the Company is in compliance with the minimum trailing revenue targets (as described below), has unrestricted cash and cash equivalents of at least 12 times of the amortization monthly cash burn amount, and has consummated an IPO in which the Company has received cash proceeds of at least $60.0 million.

The 2020 Term Loan has an effective interest rate of 13.59% per year. The 2020 Term Loan interest expense for the three months ended June 30, 2021 and 2020 was $1.1 million and $0.0, respectively. The 2020 Term Loan interest expense for the six months ended June 30, 2021 and 2020 was $2.2 million and $0.0, respectively.

In conjunction with the entering the 2020 MidCap Credit Facility, the Company issued a 10-year warrant to the Lender to purchase 300,000 shares of the Company’s Series F redeemable convertible preferred stock (the “2020 Warrant”) at an exercise price of $21.88 per share (see Note 9). The estimated fair value at issuance of the 2020 Warrant of $1.8 million was based on the Option-Pricing Method with Discounts for Lack of Marketability for each class of security. In addition, the Company incurred $0.5 million of issuance costs paid to the Lender in conjunction with the 2020 Term Loan which represents a debt discount. The Company concluded that the 2020 Term Loan represented a modification of the 2019 Term Loan and accounted for the 2020 Term Loan as debt modification. The 2020 Warrants were recorded at the fair value as a debt discount and as a warrant liability. At each balance sheet date, the 2020 Warrants are remeasured to fair value with any changes in fair value recognized as other expense in the statements of operations. The debt discount is being amortized using the effective interest method as interest expense over the contractual period of five years for the 2020 Term Loan.

The Company can voluntarily prepay the borrowings in full, with a prepayment premium beginning at 3% in the first year from entering into the 2020 MidCap Credit facility and declining to 2% in the second year to 1% in the third year thereafter. In addition, a final payment fee of 6% of the amounts borrowed is payable at the end of the term or when the borrowings are repaid in full. A long-term liability is being accreted using the effective interest method for the final payment fee over the term of the loan agreement. The borrowings are collateralized by a security interest in substantially all of the Company’s assets.

The Company accrued $0.7 million and $0.5 million as of June 30, 2021 and December 31, 2020, respectively, related to accretion of final payment due at maturity per the agreement using the effective interest rate method. The final payment accrual is recorded in Other noncurrent liabilities on the balance sheets.

The Company is subject to financial covenants related to minimum trailing revenue targets that began on September 30, 2020 and are tested on a monthly basis. The Company has to achieve minimum net revenue of $20.0 million over a trailing 12-month period increasing to a maximum net revenue covenant of $84.8 million for the

trailing 12-month period ending October 31, 2025. As of June 30, 2021, the Company was in compliance with the applicable financial covenant.

2020 Revolver

The 2020 Revolver has a four-year term and has a stated floating interest rate which equates to reserve- adjusted LIBOR plus 4.50%. An unused line fee of 0.5% is payable monthly based on the average unused balance and a collateral management fee of 0.5% is payable monthly based on the outstanding balance of the 2020 Revolver. The Company can request to increase the 2020 Revolver commitment amount to $15.0 million under the term of the agreement. As of June 30, 2021, $5.0 million was available to be drawn under the 2020 Revolver.

The 2020 Revolver has not been drawn upon as of June 30, 2021.

Long-term and short-term debt was as follows (in thousands):


	As of June 30,			As of December 31,
	2021			2020
Term Loan	$	35,000		$	35,000
Total principal payments due		35,000			35,000
Less: debt discount related to warrant liability and issuance costs		(2,698	)		(3,045	)
Total amounts outstanding		32,302			31,955
Less: Current portion		—			—
Total accrued and other current liabilities	$	32,302		$	31,955

The repayment schedule relating to the Company’s debt as of June 30, 2021, is as follows (in thousands):


	Amount
2021 (remainder)		—
2022		(1,944	)
2023		(11,667	)
2024		(11,667	)
2025		(9,722	)
Total repayments	$	(35,000	)

Commitments and Contingencies

6 Months Ended

Jun. 30, 2021

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note 6. Commitments and Contingencies

Operating Lease Obligations

The Company’s leases mainly include facility leases and storage leases. In September 2019, the Company entered into a noncancelable operating lease for approximately 10,823 square feet of primary office space, which expires on July 31, 2021, without the option to extend.

The Company recognizes rent expense on a straight-line basis over the noncancelable lease term. The Company’s rent expense was $0.2 million and $0.1 million for the three months ended June 30, 2021 and 2020, respectively. The Company’s rent expense was $0.4 million and $0.3 million for the six months ended June 30, 2021 and 2020, respectively.

In determining the present value of lease payments, the Company uses its incremental borrowing rate based on the information available at the lease commencement date if the rate implicit in the lease is not readily determinable. At the date of adoption of Topic 842, the Company determined the amounts of lease liability using a discount rate of 16.4%, which represents the Company’s incremental borrowing rate, which was based on the Company’s current borrowing rate adjusted for various factors including level of collateralization and term. As of June 30, 2021, the remaining lease term for the lease was 2.9 years.

Operating lease expense and supplemental cash flow information related to operating leases for the three and six months ended June 30, 2020 and 2021 were as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Operating lease expense	$	178	$	138	$	353	$	313
Cash paid for operating leases		176		172		353		344
New operating lease assets obtained in exchange for operating lease liabilities		23		—		23		—

During the three and six months ended June 30, 2021 and 2020, the Company’s costs related to short-term lease arrangements and non-lease variable payments were immaterial.

Aggregate future minimum lease payments at June 30, 2021 and December 31, 2020, under these noncancelable operating leases were as follows (in thousands):


	As of June 30,			As of December 31,
	2021			2020
2021	$	96		$	440
2022		85			66
2023		73			68
2024		29			29
Total future minimum lease payments	$	283			603
Less: imputed interest		(46	)		(74	)
Present value of future minimum lease payments	$	237			529
Less: current portion of operating lease liability		(112	)		(395	)
Operating lease liabilities - noncurrent	$	125		$	134

Legal Proceedings

The Company is subject to claims and assessments from time to time in the ordinary course of business. Accruals for litigation and contingencies are reflected in the financial statements based on management’s assessment, including the advice of legal counsel, of the expected outcome of litigation or other dispute resolution proceedings, and/or the expected resolution of contingencies. Liabilities for estimated losses are accrued if the potential losses from any claims or legal proceedings are considered probable and the amounts can be reasonably estimated. Significant judgment is required in both the determination of probability of loss and the determination as to whether the amount can be reasonably estimated. Accruals are based only on information available at the time of the assessment due to the uncertain nature of such matters. As additional information becomes available, management reassesses potential liabilities related to pending claims and litigation and may revise its previous estimates, which could materially affect the Company’s results of operations in a given period. As of June 30, 2021 and December 31, 2020, the Company was not involved in any material legal proceedings.

Indemnification

In the normal course of business, the Company enters into contracts and agreements that contain a variety of representations and warranties and provide for general indemnifications. The Company’s exposure under these agreements is unknown because it involves claims that may be made against the Company in the future, but that have not yet been made. To date, the Company has not paid any claims or been required to defend any action related to its indemnification obligations. However, the Company may record charges in the future as a result of these indemnification obligations.

Redeemable Convertible Preferred Stock

6 Months Ended

Jun. 30, 2021

Redeemable Convertible Preferred Stock [Abstract]

Redeemable Convertible Preferred Stock

Note 7. Redeemable Convertible Preferred Stock

The Company has the following redeemable convertible preferred stock issued and outstanding at June 30, 2021 and December 31, 2020 (in thousands, except share and per share data):


	Shares Authorized		Shares Issued and Outstanding		Original Issuance Price		Liquidation Amount		Issuance Costs		Carrying Value
Series A		3,804,344		3,804,344	$	1.38	$	5,250	$	9	$	5,241
Series B		1,209,621		1,209,621	$	5.79		7,000		106		6,894
Series C		2,372,371		2,342,857	$	9.49		22,226		208		22,018
Series D		2,507,720		2,447,818	$	12.56		30,750		647		30,103
Series E		1,921,902		1,899,847	$	15.87		30,150		106		30,044
Series F		2,425,432		1,062,715	$	21.88		23,250		219		23,031
		14,241,390		12,767,202			$	118,626	$	1,295	$	117,331

The rights and preferences of holders of the redeemable convertible preferred stock as of June 30, 2021 were as follows:

Voting Rights

The holder of each share of redeemable convertible preferred stock has the voting rights equal to an equivalent number of shares of common stock into which it is convertible and votes together as a single class with common stock.

Election of Directors

The holders of a majority of the Shares of Series A, Series B, Series C and Series D redeemable convertible preferred stock, voting separately as a single class, are entitled to each elect one director of the Company. The holders of a majority of the shares of Series E and Series F redeemable convertible preferred stock, voting together as a single class, are entitled to elect one director of the Company.

Dividends

The holders of Series A, Series B, Series C, Series D, Series E and Series F redeemable convertible preferred stock are entitled to receive dividends declared by the board of directors in proportion to the numbers of shares of common stock, which are held by each holder if all shares of such series of redeemable convertible preferred stock were converted to common stock at the then-effective conversion rate of each series of redeemable convertible preferred stock. No dividends shall be paid on any common stock (other than dividends on shares of common stock payable in shares of common stock) until dividends to the holders of the redeemable convertible preferred stock have been paid. As of June 30, 2021, no dividends have been declared to date.

Liquidation Rights

In the event of any liquidation, dissolution, or winding-up of the Company, either voluntary or involuntary, the holders of Series F, Series E and Series D redeemable convertible preferred stock shall be entitled to receive on a pari passu basis among each other, prior to and in preference to any distribution of any of the assets to the holders of

Series C redeemable convertible preferred stock, Series B redeemable convertible preferred stock, Series A redeemable convertible preferred stock, and the common stock of the Company, an amount per share equal to the sum of the original issue price of the redeemable convertible preferred stock and all declared and unpaid dividends on such shares of redeemable convertible preferred stock.

After the payment of all preferential amounts required to be paid to the holders of Series D redeemable convertible preferred stock, the holders of Series C redeemable convertible preferred stock shall be entitled to receive, prior to and in preference to any distribution of any of the assets to the holders of Series B redeemable convertible preferred stock, Series A redeemable convertible preferred stock, and the common stock of the Company, an amount per share equal to the sum of the original issue price of the redeemable convertible preferred stock and all declared and unpaid dividends on such shares of redeemable convertible preferred stock.

After the payment of all preferential amounts required to be paid to the holders of Series C redeemable convertible preferred stock, the holders of Series B shall be entitled to receive, prior to and in preference to any distribution of any of the assets to the holders of Series A redeemable convertible preferred stock and the common stock of the Company, an amount per share equal to the sum of the original issue price of the redeemable convertible preferred stock and all declared and unpaid dividends on such shares of redeemable convertible preferred stock.

After the payment of all preferential amounts required to be paid to the holders of Series B redeemable convertible preferred stock, the holders of Series A shall be entitled to receive, prior to and in preference to any distribution of any of the assets to the holders of common stock of the Company, an amount per share equal to the sum of the original issue price of the redeemable convertible preferred stock and all declared and unpaid dividends on such shares of redeemable convertible preferred stock.

If upon the occurrence of such an event, the assets and funds distributed among the holders of the redeemable convertible preferred stock are insufficient to permit the payment to such holders of the redeemable convertible preferred stock, then the entire assets and funds of the Company legally available for distribution shall be distributed ratably among the holders of the redeemable convertible preferred stock in proportion to the full preferential amount each such holders are otherwise entitled to have received pursuant to the entitlement as noted above.

After the payment in full to holders of the redeemable convertible preferred stock as noted above, the remaining assets, if any, shall be distributed to the holders of the common and redeemable convertible preferred stock on a pro-rata as-if-converted basis.

Conversion rights

Each share of redeemable convertible preferred stock is convertible, at the option of the holder, at any time after the date of issuance of such share for such redeemable convertible preferred stock. Each share of redeemable convertible preferred stock shall be convertible into the number of shares of common stock determined by dividing the original issuance price by the conversion price. The initial conversion price for each share of redeemable convertible preferred stock is the original issuance price for such share of redeemable convertible preferred stock.

Each share of redeemable convertible preferred stock automatically converts into the number of shares of common stock at the conversion price on the earlier of (i) immediately prior to the closing of a firmly underwritten public offering in the aggregate gross proceeds received by the Company are not less than $75.0 million and the Company’s valuation, represented by fair market value of the issued and outstanding shares of common stock (assuming conversion of all redeemable convertible preferred stock into common stock) immediately prior to giving effect to the issuance of any shares pursuant to such public offering, calculated based on the price per share at which the underwriters propose to sell such common stock to the public, is at least $425.0 million on or before the 12-month anniversary of the initial purchase date of the Series F redeemable convertible preferred stock, and at least $475.0 million after the twelve 12-month anniversary of the initial purchase date of the Series F redeemable convertible preferred stock (a “Qualified IPO”) or (ii) the date specified in a written request by the holders of a majority of the then outstanding shares of the Series E redeemable convertible preferred stock and the Series F redeemable convertible preferred stock, voting together as a separate class on an as-if converted basis.

As of June 30, 2021, the conversion ratio for each series of redeemable convertible preferred stock was one-for-two, whereby each share of redeemable convertible preferred stock converts into two shares of common stock.

Redemption

The redeemable convertible preferred stock is recorded in mezzanine equity because, while it is not mandatorily redeemable, it will become redeemable at the option of the stockholders upon the occurrence of certain deemed liquidation events that are considered not solely within the Company’s control.

Common Stock Warrants	6 Months Ended
Common Stock Warrants	Jun. 30, 2021
Warrants And Rights Note Disclosure [Abstract]
Common Stock Warrants	Note 8. Common Stock Warrants In connection with the issuance of the Company’s Series A redeemable convertible preferred stock issuances in September 2011, the Company issued a warrant to purchase 129,310 shares of common stock to an investor who purchased Series A redeemable convertible preferred stock at an exercise price of $0.05 per share. The common stock warrant was exercised in December 2020 and is no longer outstanding

Redeemable Convertible Preferred Stock Warrants

6 Months Ended

Jun. 30, 2021

Warrants And Rights Note Disclosure [Abstract]

Redeemable Convertible Preferred Stock Warrants

Note 9. Redeemable Convertible Preferred Stock Warrants

2019 Warrants

In conjunction with the funding of Tranche 1 and Tranche 2 under the 2019 Term Loan, the Company issued the 2019 Initial Warrant to purchase 29,514 shares of its Series C redeemable convertible preferred stock (see Note 5). The 2019 Initial Warrant is immediately exercisable, at an exercise price per share of $9.49, and expires 10 years from their date of issuance. The 2019 Initial Warrant will be automatically exercised upon the consummation or effective date of a change of control of the Company. Further, depending on the funding of the 2019 Term Loan Tranche 3, the Company was obligated to issue the 2019 Additional Warrant to the Lender to purchase up to 12,649 shares of Series C redeemable convertible preferred stock at the respective exercise price.

The estimated fair value of the 2019 Warrants on the date of issuance was $0.2 million. As of the issuance date, the fair value of the 2019 Warrants was calculated using the Black-Scholes option-pricing model and was based on a term of 10 years, a risk-free interest rate of 2.99%, expected volatility of 50.95%, and 0% expected dividend yield.

At initial recognition, the 2019 Warrants were recorded at their estimated fair values and were subject to remeasurement at each balance sheet date, with changes in fair value recognized as a component of net income. As of December 31, 2020 and June 30, 2021, the estimated fair values of the 2019 Warrants were $0.3 million and $1.0 million, respectively. The fair value of the 2019 Warrants as of December 31, 2020 was calculated using the Black-Scholes option-pricing model with the following assumptions:


		December 31,
		2020
Expected term (in years)		8.1 – 8.5
Expected volatility		42.18% – 42.63%
Risk-free interest rate		2.33% – 2.49%
Dividend yield		–

The fair value of the 2019 Warrants as of June 30, 2021 was calculated using a multi-scenario Option- Pricing Method with Discounts for Lack of Marketability for each class of security.

As of June 30, 2021, the 2019 Initial Warrant remained outstanding and the remaining term was 7.8 years. The 2019 Additional Warrant of 12,649 shares of series C redeemable convertible preferred stock was not legally issued and expired upon modification of the 2019 Term Loan.

2020 Warrants

In conjunction with entering the 2020 Term Loan agreement, the Company issued the 2020 Warrant to purchase 300,000 shares of its Series F redeemable convertible preferred stock (see Note 5). The 2020 Warrant is immediately exercisable, at an exercise price per share of $21.88, and expires 10 years from its date of issuance. The warrant will be automatically exercised upon the consummation or effective date of a change of control of the Company.

The estimated fair value of the 2020 Warrant on the date of issuance was $1.8 million. As of the issuance date, the fair value of the 2020 Warrant was calculated using a multi-scenario Method with Discounts for Lack of Marketability for each class of security.

At initial recognition, the 2020 Warrant was recorded at its estimated fair values and was subject to remeasurement at each balance sheet date, with changes in fair value recognized as a component of net income. As of June 30, 2021 and December 31, 2020, the estimated fair values of the 2020 Warrant was $6.0 million and $1.8 million, respectively. The fair value of the 2020 Warrant as of June 30, 2021 and December 31, 2020 was calculated using a multi-scenario Method with Discounts for Lack of Marketability for each class of security.

As of June 30, 2021, the 2020 Warrant remained outstanding and the remaining term was 9.4 years.

The fair value of the redeemable convertible preferred stock warrants was determined using the following assumption as of each report date:


	June 30,	December 31,
	2021	2020
Term (in years)	0.04 – 2.04	0.58 – 2.58
Expected volatility	37.9% - 59.5%	55.9% - 65.6%
Risk-free interest rate	0.05% - 0.26%	0.08% - 0.18%

Common Stock

6 Months Ended

Jun. 30, 2021

Equity [Abstract]

Common Stock

Note 10. Common Stock

At June 30, 2021, the Company’s certificate of incorporation, as amended and restated, authorized the Company to issue up to 21,831,000 shares of common stock with $0.001 par value per share, of which 9,732,032 shares were issued and outstanding. The holders of common stock were also entitled to receive dividends whenever funds are legally available, when and if declared by the board of directors. As of June 30, 2021, no dividends have been declared to date. Each share of common stock is entitled to one vote.

At June 30, 2021 and December 31, 2020, the Company had reserved common stock for future issuances as follows:


	June 30,		December 31,
	2021		2020
Conversion of Series A redeemable convertible preferred stock		7,608,688		7,608,688
Conversion of Series B redeemable convertible preferred stock		2,419,242		2,419,242
Conversion of Series C redeemable convertible preferred stock and warrants		4,744,742		4,744,742
Conversion of Series D redeemable convertible preferred stock		4,895,636		4,895,636
Conversion of Series E redeemable convertible preferred stock		3,799,694		3,799,694
Conversion of Series F redeemable convertible preferred stock and warrants		2,725,430		2,725,430
Exercise of options under stock plan		5,185,736		3,137,776
Issuance of options under plan		240,860		451,670
		31,620,028		29,782,878

Stock Option Plan

6 Months Ended

Jun. 30, 2021

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock Option Plan

Note 11. Stock Option Plan

In 2011, the Company established its 2011 stock option plan (the “2011 Plan”) that provides for the granting of stock options to employees and nonemployees of the Company. Under the 2011 Plan, the Company had the ability to issue incentive stock options (ISOs), nonqualified stock options (NSOs), stock appreciation rights, dividend equivalent rights, restricted stock awards, and restricted stock unit awards. Options under the 2011 Plan may be granted for periods of up to 10 years. For incentive stock option granted to a grantee who, at the time the option is granted, owns stock representing more than 10% of the voting power of all classes of stock of the Company or any parent or subsidiary of the Company, the term of the incentive stock option may be granted for periods of up to five years. The ISOs and NSOs will be granted at a price per share not less than the fair value at the date of grant. The exercise price of an ISO granted to a 10% stockholder shall not be less than 110% of the estimated fair value of the shares on the date of grant, as determined by the board of directors. Options granted to new hires generally vest over a four-year period, with 25% vesting at the end of one year and the remaining vesting monthly thereafter; options granted as merit awards generally vest monthly over a four-year period.

At June 30, 2021 and December 31, 2020, there were 240,860 shares and 451,670 shares, respectively, of common stock available for issuance under the 2011 Plan.

The following tables summarize the Company’s stock option activity for the three months ended June 30, 2021:


				Options Outstanding
	Shares Available for Grant			Number of Options			Weighted-Average Exercise Price		Weighted-Average Contractual Term (in years)		Average Intrinsic Value (in thousands)
Balances as of December 31, 2020		451,670			3,137,776		$	0.94		6.8	$	18,656
Additional shares reserved		2,060,000
Options granted		(2,339,000	)		2,339,000			10.56
Options forfeited/cancelled		68,190			(68,190	)		2.21
Options exercised					(222,850	)		0.94
Balances as of June 30, 2021		240,860			5,185,736		$	5.26		7.8	$	39,934
Vested and exercisable as of June 30, 2021					1,841,606		$	0.75		5.0	$	18,337
Vested and expected to vest as of June 30, 2021					5,155,736		$	5.29		8.0	$	39,625

The weighted-average grant-date fair values of options granted during the six months ended June 30, 2021 and 2020 was $10.42 and $1.57 per share, respectively. The aggregate intrinsic value of options exercised were $3.3 million during the six months ended June 30, 2021. The aggregate intrinsic value was calculated as the difference between the exercise prices of the underlying options and the estimated fair value of the common stock on the date of exercise. As of June 30, 2021, the unrecognized stock-based compensation of unvested options was $25.6 million, which is expected to be recognized over a weighted-average period of 3.8 years.

The Company estimated the fair value of stock options using the Black-Scholes option-pricing model. The fair value of stock options is recognized on a straight-line basis over the requisite service periods of the awards. The fair value of stock options was estimated using the following weighted-average assumptions:


	Three Months Ended June 30,		Six Months Ended June 30,
	2021	2020	2021	2020
Expected term (in years)	5.74 – 6.18	5.85 – 6.08	4.99 – 6.18	5.85 – 6.08
Expected volatility	59.9% – 61.1%	53.9% – 54.7%	56.7% – 61.1%	48.3% – 54.7%
Risk-free interest rate	0.95% – 1.05%	0.33% – 0.56%	0.48% – 1.05%	0.33% – 1.77%
Dividend yield	–	–	–	–

Expected Term

The expected term is calculated using the simplified method, which is available if there is insufficient historical data about exercise patterns and post vesting employment termination behavior. The simplified method is based on the vesting period and the contractual term for each grant or for each vesting tranche for awards with graded vesting. The midpoint of the vesting date and the maximum contractual expiration date is used as the expected term under this method. For awards with multiple vesting tranches, the time from grant until the midpoints for each of the tranches may be averaged to provide an overall expected term.

Expected Volatility

The Company used an average historical stock price volatility of a peer group of publicly traded companies to be representative of its expected future stock price volatility, as the Company did not have any trading history for its common stock. For purposes of identifying these peer companies, the Company considered the industry, stage of development, size, and financial leverage of potential comparable companies. For each grant, the Company measured historical volatility over a period equivalent to the expected term.

Risk-Free Interest Rate

The risk-free interest rate is based on the implied yield currently available on US Treasury zero-coupon issues with remaining terms equivalent to the expected term of a stock award.

Expected Dividend Rate

The Company has not paid, and does not anticipate paying, any dividends in the near future. Accordingly, the Company has estimated the dividend yield to be 0%.

The following is a summary of stock-based compensation expense by function (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Cost of goods sold	$	17	$	4	$	24	$	5
Research and development		101		14		138		23
Selling, general and administrative		813		47		1,046		98
Total stock-based compensation expense	$	931	$	65	$	1,208	$	126

Net Loss per Share Attributable to Common Stockholders

6 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

Net Loss per Share Attributable to Common Stockholders

Note 12. Net Loss per Share Attributable to Common Stockholders

Basic net loss per share is computed by dividing the net loss by the weighted-average number of common shares outstanding for the period. As the Company reported a net loss for the three and six months ended June 30, 2021 and 2020, basic net loss per share is the same as diluted net loss per share as the inclusion of potentially dilutive shares would have been antidilutive if included in the calculation.

The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders (in thousands, except share and per share data):


	Three Months Ended June 30,						Six Months Ended June 30,
	2021			2020			2021			2020
Numerator:
Net loss attributable to common stockholders	$	(17,615	)	$	(8,316	)	$	(29,855	)	$	(17,491	)
Denominator:
Weighted-average shares of common stock outstanding—basic and diluted		9,610,408			9,457,893			9,564,096			9,453,640
Net loss per share attributable to common stockholders—basic and diluted	$	(1.83	)	$	(0.88	)	$	(3.12	)	$	(1.85	)

The following outstanding shares of potentially dilutive securities were excluded from the computation of diluted net loss per share attributable to common stockholders for the period presented because including them would have been antidilutive:


	June 30,
	2021		2020
Series A redeemable convertible preferred stock		3,804,344		3,804,344
Series B redeemable convertible preferred stock		1,209,621		1,209,621
Series C redeemable convertible preferred stock		2,342,857		2,342,857
Series D redeemable convertible preferred stock		2,447,818		2,447,818
Series E redeemable convertible preferred stock		1,899,847		1,899,847
Series F redeemable convertible preferred stock		1,062,715		—
Options to purchase common stock		5,185,736		2,490,706
Redeemable convertible preferred stock warrants		329,514		42,163
Total		18,282,452		14,237,356

Defined Contribution Plan

6 Months Ended

Jun. 30, 2021

Postemployment Benefits [Abstract]

Defined Contribution Plan

Note 13. Defined Contribution Plan

The Company sponsors a defined contribution plan under Section 401(k) of the IRC of 1986, as amended, covering substantially all of its full-time US employees. Participating employees may contribute up to 100% of their eligible compensation up to the annual Internal Revenue Service’s contribution limit. For the three and six months ended June 30, 2021 and 2020, the Company did not match employee contributions.

Segment Information

6 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

Segment Information

Note 14. Segment Information

The Company has two reportable operating segments which are determined on the basis of product portfolio: Surgical Glaucoma and Dry Eye. The operating and reportable segments were determined based on how the Company’s Chief Executive Officer, its Chief Operating Decision Maker (“CODM”), views and evaluates the Company’s operations. The CODM allocates resources to and evaluates the financial performance of each operating segment primarily based on gross profit and gross profit margin.

Surgical Glaucoma segment includes sales of the Company’s OMNI® Surgical System for use in minimally invasive glaucoma procedures. Dry Eye segment includes sales of the Company’s TearCare® System and related components.

The following table summarizes select operating results information for each reportable segment (dollars in thousands):


	Three Months Ended June 30,						Six Months Ended June 30,
	2021			2020			2021			2020
Revenue
Surgical Glaucoma	$	11,988		$	3,299		$	20,127		$	9,399
Dry Eye		547			203			1,043			599
Total		12,535			3,502			21,170			9,998
Cost of goods sold
Surgical Glaucoma		1,773			1,508			3,631			3,022
Dry Eye		532			577			975			1,191
Total		2,305			2,085			4,606			4,213
Gross profit
Surgical Glaucoma		10,215			1,791			16,496			6,377
Dry Eye		15			(374	)		68			(592	)
Total		10,230			1,417			16,564			5,785
Operating expense		21,306			9,107			39,296			22,185
Loss from operations		(11,076	)		(7,690	)		(22,732	)		(16,400	)
Interest income		—			2			—			29
Interest expense		(1,082	)		(549	)		(2,166	)		(1,101	)
Other income (expense), net		(5,435	)		(73	)		(4,883	)		18
Loss before income tax	$	(17,593	)	$	(8,310	)	$	(29,781	)	$	(17,454	)

The Company does not allocate any income and expenses beyond revenue and cost of goods sold to the reportable operating segments in its reporting to the CODM. No asset information is provided for reportable operating segments because they are not reviewed by the CODM on segment basis. Substantially all of the Company’s revenue is generated from sales in the United States, and none of its property and equipment is located outside the United States.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 31
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Subsequent Events

6 Months Ended

Jun. 30, 2021

Subsequent Events [Abstract]

Subsequent Events

Note 15. Subsequent Events

The Company evaluated subsequent events through August 12, 2021, the date on which the condensed consolidated financial statements were available for issuance.

Stock Split

On July 7, 2021 the Company effected a 2-for-1 stock split of its issued and outstanding shares of common stock and a proportional adjustment to the existing conversion ratios for each series of the Company’s redeemable convertible preferred stock. Accordingly, all share and per share amounts for all periods presented in the accompanying consolidated financial statements and notes thereto have been adjusted retroactively, where applicable, to reflect this stock split and adjustment of the redeemable convertible preferred stock conversion ratios.

Initial Public Offering

Immediately prior to the closing of the IPO, all of the then-outstanding shares of convertible preferred stock automatically converted into 25,534,404 shares of common stock at the applicable conversion ratio then in effect. Further, all of the then-outstanding convertible preferred stock warrants were converted into warrants to purchase

659,028 shares of common stock and the convertible preferred stock warrant liability was reclassified to additional paid in capital. Subsequent to the IPO, all of these common stock warrants were net exercised into 483,554 shares of common stock.

Amended and Restated Certificate of Incorporation

In connection with the IPO, the Company filed an amended and restated certificate of incorporation effective immediately prior to the closing of the IPO that authorized the issuance of up to 200,000,000 shares of common stock, par value $0.001 per share, and 10,000,000 shares of undesignated preferred stock, par value $0.001 per share.

2021 Equity Incentive Plan

In July 2021, the Company’s Board of Directors and stockholders adopted and approved the 2021 Equity Incentive Plan, (the “2021 Plan”). The Company’s 2011 Stock Plan was terminated in connection with the IPO and no further grants will be made under the 2011 Plan from the date that the 2021 Plan became effective. The Company reserved 5,200,000 shares of common stock for future issuance under the 2021 Plan, from which options for 103,903 shares of common stock were granted upon the pricing of the IPO.

2021 Employee Stock Purchase Plan

In July 2021, the Board of Directors and stockholders also adopted and approved the 2021 Employee Stock Purchase Plan (the “ESPP”). The Company reserved 850,000 shares of common stock for future issuance under the ESPP.

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying condensed consolidated financial statements are unaudited and have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) applicable to interim periods. The condensed consolidated financial statements, in the opinion of management, include all normal and recurring adjustments necessary to present fairly the Company’s financial position and results of operations for the reported periods. These condensed consolidated financial statements have been prepared on a basis substantially consistent with, and should be read in conjunction with the audited financial statements for the year ended December 31, 2020 and notes thereto included in the prospectus, dated July 14, 2021, filed with the Securities and Exchange Commission ("SEC") in accordance with Rule 424(b) of the Securities Act on July 15, 2021 (the "Prospectus") in connection with our IPO that forms a part of the Company's Registration Statements on Form S-1 (File No. 333-257320), as filed with the SEC pursuant to Rule 424(b)(4) promulgated under the Securities Act, as amended. Certain information and note disclosures normally included in the audited financial statements prepared in accordance with GAAP have been condensed or omitted from this report. The results of operations for any interim period are not necessarily indicative of the results for the year ending December 31, 2021, or for any future period. The accompanying condensed consolidated financial statements reflect the operations of the Company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expense during the reporting period. The most significant estimates related to inventory excess and obsolescence, the selection of useful lives of property and equipment, determination of the fair value of stock option grants, the fair value of the redeemable convertible preferred stock warrants, and provisions for income taxes and contingencies. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, and makes adjustments when facts and circumstances dictate. These estimates are based on information available as of the date of the financial statements. Actual results could differ from these estimates and such differences could be material to the Company’s financial position and results of operations.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company’s financial instruments consist of cash and cash equivalents, accounts receivable, accounts payable, accrued liabilities, redeemable convertible preferred stock, short-term and long-term debt and redeemable convertible preferred stock warrant liability. The Company states accounts receivable, accounts payable, and accrued and other current liabilities at their carrying value, which approximates fair value due to the short time to the expected receipt or payment. The carrying amount of the Company’s short-term debt approximates its fair value as the effective interest rate approximates market rates currently available to the Company. The redeemable convertible preferred stock warrant liability associated with the Company’s redeemable convertible preferred stock is carried at fair value based on unobservable market inputs.
Deferred Offering Costs	Deferred Offering Costs Deferred offering costs, consisting of legal, accounting and other fees and costs relating to the Company’s IPO, were deferred until completion of the IPO. As of June 30, 2021 and December 31, 2020 deferred offering costs of $3.3 million and $0.4 million, respectively, were capitalized and are included in “Other noncurrent assets”. In July 2021, upon closing of the IPO, all deferred costs were offset against the Company's IPO proceeds.
Accounting for Payroll Protection Program	Accounting for Payroll Protection Program In March 2020, Congress established the Paycheck Protection Program (“PPP”) to provide relief to small businesses during COVID-19 as part of the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act. The legislation authorized the U.S. Treasury to use the Small Business Association’s (“SBA’s”) small business lending program to fund forgivable loans that qualifying businesses could spend to cover payroll, mortgage interest, rent, and utilities during the “Covered Period” defined as the 8-week period starting on the date the PPP loan proceeds are received. Upon meeting certain criteria as specified in the PPP program, the loans are eligible for partial or total forgiveness. In May 2020, the Company applied for and received a PPP loan for the amount $2.2 million from SBA. We believe we have satisfied all of the terms and conditions of the PPP loan and applied for loan forgiveness in September 2020. The PPP loan was forgiven in June 2021. GAAP does not contain authoritative accounting standards for forgivable loans provided by governmental entities to a for-profit entity. Absent authoritative accounting standards, interpretative guidance issued and commonly applied by financial statement preparers allows for the selection of accounting policies amongst acceptable alternatives. The Company determined it most appropriate to account for the PPP loan proceeds as an in-substance government grant by analogy to International Accounting Standards 20 (“IAS 20”) Accounting for Government Grants and Disclosure of Government Assistance. Under this guidance, a forgivable loan from government is treated as a government grant when there is reasonable assurance that the entity will meet the terms for forgiveness of the loan. While IAS 20 does not define “reasonable assurance”, this concept in practice is analogous to “probable” as defined in Financial Accounting Standards Board (“FASB”) ASC 450-20-20 under GAAP, which is the definition the Company has applied to its expectations of PPP loan forgiveness. Under IAS 20, government grants are recognized in earnings on a systematic basis over the periods in which the Company recognizes costs for which the grant is intended to compensate (i.e. qualified expenses). Further, IAS 20 permits for the recognition in earnings either separately under a general heading such as other income, or as a reduction of the related expenses.
New Accounting Pronouncements Not Yet Adopted	New Accounting Pronouncements Not Yet Adopted In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which amends the impairment model by requiring entities to use a forward-looking approach based on expected losses to estimate credit losses on certain types of financial instruments, including trade receivables and available-for-sale debt securities. The guidance is effective for the Company beginning in the first quarter of 2023. The Company is evaluating the impact of adopting this guidance and does not expect to have a material impact on the Company’s financial statements and related disclosures. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, that simplifies the accounting for income taxes by eliminating certain exceptions related to the approach for intra-period tax allocation and modified the methodology for calculating income taxes in an interim period. It also clarifies and simplifies other aspects of the accounting for income taxes. The guidance is effective for the Company for fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022 with early adoption permitted. The Company is evaluating the effect of this new guidance and does not expect it to have material impact on the Company’s financial statements. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The new guidance provides optional expedients and exceptions for applying generally accepted accounting principles to contract modifications and hedging relationships, subject to meeting certain criteria, that reference LIBOR or another reference rate expected to be discontinued. The guidance also establishes (1) a general contract modification principle that entities can apply in other areas that may be affected by reference rate reform and (2) certain elective hedge accounting expedients. The amendment is effective for all entities through December 31, 2022. LIBOR is used to calculate the interest on borrowings under the Company’s term loan and revolving line of credit with MidCap Financial Services. The Company is evaluating the effect of this new guidance and does not expect it to have material impact on the Company’s financial statements.

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2021

Summary of Fair Value Measurement of Liabilities of Measured on Recurring Basis

The fair value measurements of liabilities that are measured at fair value on a recurring basis at June 30, 2021 and December 31, 2020, are as follows (in thousands):


	As of June 30, 2021
	Level 1		Level 2		Level 3		Total
Liabilities:
Redeemable convertible preferred stock warrants liabilities	$	—	$	—	$	6,984	$	6,984
Total liabilities measured at fair value	$	—	$	—	$	6,984	$	6,984


	As of December 31, 2020
	Level 1		Level 2		Level 3		Total
Liabilities:
Redeemable convertible preferred stock warrants liabilities	$	—	$	—	$	2,112	$	2,112
Total liabilities measured at fair value	$	—	$	—	$	2,112	$	2,112

Summary of Changes in Level 3 Fair Value Instruments

A summary of the changes in the fair value of the Company’s Level 3 financial instruments for the three and six months ended June 30, 2021 and 2020, is as follows (in thousands):


	Redeemable convertible preferred stock warrants liabilities
Balance – December 31, 2020	$	2,112
Change in fair value		(555	)
Balance – March 31, 2021		1,557
Change in fair value		5,427
Balance – June 30, 2021	$	6,984


	Redeemable convertible preferred stock warrants liabilities
Balance – December 31, 2019	$	236
Change in fair value		(92	)
Balance – March 31, 2020		144
Change in fair value		73
Balance – June 30, 2020	$	217

Balance Sheet Components (Tables)

6 Months Ended

Jun. 30, 2021

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Summary of Property and Equipment, Net

Property and equipment, net consist of the following (in thousands):


	As of June 30,			As of December 31,
	2021			2020
Tools and equipment	$	1,552		$	1,523
Computer equipment and software		108			118
Furniture and fixtures		43			43
Leasehold improvements		30			30
Construction in process		604			298
		2,337			2,012
Less: Accumulated depreciation		(919	)		(743	)
Property and equipment, net	$	1,418		$	1,269

Summary of Accrued and Other Current Liabilities

Accrued and other current liabilities consist of the following (in thousands):


	As of June 30,		As of December 31,
	2021		2020
Accrued expenses	$	3,919	$	1,971
Current portion of lease liabilities		112		395
Short term interest payable		267		274
Other accrued liabilities		456		446
Total accrued and other current liabilities	$	4,754	$	3,086

Summary of Other Noncurrent Liabilities

Other noncurrent liabilities consist of the following (in thousands):


	As of June 30,		As of December 31,
	2021		2020
Redeemable preferred stock warrants liabilities	$	6,984	$	2,112
Long term interest payable		651		465
Noncurrent portion of lease liabilities		125		134
Other noncurrent liabilities		345		344
Total other noncurrent liabilities	$	8,105	$	3,055

Debt (Tables)

6 Months Ended

Jun. 30, 2021

Debt Disclosure [Abstract]

Schedule of Long-term and Short-term Debt

Long-term and short-term debt was as follows (in thousands):


	As of June 30,			As of December 31,
	2021			2020
Term Loan	$	35,000		$	35,000
Total principal payments due		35,000			35,000
Less: debt discount related to warrant liability and issuance costs		(2,698	)		(3,045	)
Total amounts outstanding		32,302			31,955
Less: Current portion		—			—
Total accrued and other current liabilities	$	32,302		$	31,955

Repayment Schedule Relating to the Company's Debt

The repayment schedule relating to the Company’s debt as of June 30, 2021, is as follows (in thousands):


	Amount
2021 (remainder)		—
2022		(1,944	)
2023		(11,667	)
2024		(11,667	)
2025		(9,722	)
Total repayments	$	(35,000	)

Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2021

Commitments And Contingencies Disclosure [Abstract]

Schedule of Operating Lease Expense Recognized and Supplemental Cash Flow

Operating lease expense and supplemental cash flow information related to operating leases for the three and six months ended June 30, 2020 and 2021 were as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Operating lease expense	$	178	$	138	$	353	$	313
Cash paid for operating leases		176		172		353		344
New operating lease assets obtained in exchange for operating lease liabilities		23		—		23		—

Schedule of Aggregate Future Minimum Lease Payments

Aggregate future minimum lease payments at June 30, 2021 and December 31, 2020, under these noncancelable operating leases were as follows (in thousands):


	As of June 30,			As of December 31,
	2021			2020
2021	$	96		$	440
2022		85			66
2023		73			68
2024		29			29
Total future minimum lease payments	$	283			603
Less: imputed interest		(46	)		(74	)
Present value of future minimum lease payments	$	237			529
Less: current portion of operating lease liability		(112	)		(395	)
Operating lease liabilities - noncurrent	$	125		$	134

Redeemable Convertible Preferred Stock (Table)

6 Months Ended

Jun. 30, 2021

Redeemable Convertible Preferred Stock [Abstract]

Summary of Redeemable Convertible Preferred Stock Issued and Outstanding

The Company has the following redeemable convertible preferred stock issued and outstanding at June 30, 2021 and December 31, 2020 (in thousands, except share and per share data):


	Shares Authorized		Shares Issued and Outstanding		Original Issuance Price		Liquidation Amount		Issuance Costs		Carrying Value
Series A		3,804,344		3,804,344	$	1.38	$	5,250	$	9	$	5,241
Series B		1,209,621		1,209,621	$	5.79		7,000		106		6,894
Series C		2,372,371		2,342,857	$	9.49		22,226		208		22,018
Series D		2,507,720		2,447,818	$	12.56		30,750		647		30,103
Series E		1,921,902		1,899,847	$	15.87		30,150		106		30,044
Series F		2,425,432		1,062,715	$	21.88		23,250		219		23,031
		14,241,390		12,767,202			$	118,626	$	1,295	$	117,331

Redeemable Convertible Preferred Stock Warrants (Tables)

6 Months Ended

Jun. 30, 2021

2019 Warrants

Class Of Warrant Or Right [Line Items]

Schedule of Fair Value of Warrants Calculated Using Black-Scholes Model

The fair value of the 2019 Warrants as of December 31, 2020 was calculated using the Black-Scholes option-pricing model with the following assumptions:


		December 31,
		2020
Expected term (in years)		8.1 – 8.5
Expected volatility		42.18% – 42.63%
Risk-free interest rate		2.33% – 2.49%
Dividend yield		–

2020 Warrants

Class Of Warrant Or Right [Line Items]

Schedule of Fair Value of Warrants Calculated Using Black-Scholes Model

The fair value of the redeemable convertible preferred stock warrants was determined using the following assumption as of each report date:


	June 30,	December 31,
	2021	2020
Term (in years)	0.04 – 2.04	0.58 – 2.58
Expected volatility	37.9% - 59.5%	55.9% - 65.6%
Risk-free interest rate	0.05% - 0.26%	0.08% - 0.18%

Common Stock (Tables)

6 Months Ended

Jun. 30, 2021

Equity [Abstract]

Reserved Common Stock for Future Issuances

At June 30, 2021 and December 31, 2020, the Company had reserved common stock for future issuances as follows:


	June 30,		December 31,
	2021		2020
Conversion of Series A redeemable convertible preferred stock		7,608,688		7,608,688
Conversion of Series B redeemable convertible preferred stock		2,419,242		2,419,242
Conversion of Series C redeemable convertible preferred stock and warrants		4,744,742		4,744,742
Conversion of Series D redeemable convertible preferred stock		4,895,636		4,895,636
Conversion of Series E redeemable convertible preferred stock		3,799,694		3,799,694
Conversion of Series F redeemable convertible preferred stock and warrants		2,725,430		2,725,430
Exercise of options under stock plan		5,185,736		3,137,776
Issuance of options under plan		240,860		451,670
		31,620,028		29,782,878

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 505
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Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(28))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 505
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 480
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-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=65877616&loc=d3e177068-122764

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
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-Subparagraph (SX 210.5-02(29))
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

Stock Option Plan (Tables)

6 Months Ended

Jun. 30, 2021

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Stock Option Activity

The following tables summarize the Company’s stock option activity for the three months ended June 30, 2021:


				Options Outstanding
	Shares Available for Grant			Number of Options			Weighted-Average Exercise Price		Weighted-Average Contractual Term (in years)		Average Intrinsic Value (in thousands)
Balances as of December 31, 2020		451,670			3,137,776		$	0.94		6.8	$	18,656
Additional shares reserved		2,060,000
Options granted		(2,339,000	)		2,339,000			10.56
Options forfeited/cancelled		68,190			(68,190	)		2.21
Options exercised					(222,850	)		0.94
Balances as of June 30, 2021		240,860			5,185,736		$	5.26		7.8	$	39,934
Vested and exercisable as of June 30, 2021					1,841,606		$	0.75		5.0	$	18,337
Vested and expected to vest as of June 30, 2021					5,155,736		$	5.29		8.0	$	39,625

Summary of Weighted Average Valuation Assumptions Used to Estimate Fair Value of Employee Stock Options

The fair value of stock options was estimated using the following weighted-average assumptions:


	Three Months Ended June 30,		Six Months Ended June 30,
	2021	2020	2021	2020
Expected term (in years)	5.74 – 6.18	5.85 – 6.08	4.99 – 6.18	5.85 – 6.08
Expected volatility	59.9% – 61.1%	53.9% – 54.7%	56.7% – 61.1%	48.3% – 54.7%
Risk-free interest rate	0.95% – 1.05%	0.33% – 0.56%	0.48% – 1.05%	0.33% – 1.77%
Dividend yield	–	–	–	–

Summary of Stock-Based Compensation Expense by Function

The following is a summary of stock-based compensation expense by function (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Cost of goods sold	$	17	$	4	$	24	$	5
Research and development		101		14		138		23
Selling, general and administrative		813		47		1,046		98
Total stock-based compensation expense	$	931	$	65	$	1,208	$	126

Net Loss per Share Attributable to Common Stockholders (Tables)

6 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted Net Loss per Share Attributable to Common Stockholders

The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders (in thousands, except share and per share data):


	Three Months Ended June 30,						Six Months Ended June 30,
	2021			2020			2021			2020
Numerator:
Net loss attributable to common stockholders	$	(17,615	)	$	(8,316	)	$	(29,855	)	$	(17,491	)
Denominator:
Weighted-average shares of common stock outstanding—basic and diluted		9,610,408			9,457,893			9,564,096			9,453,640
Net loss per share attributable to common stockholders—basic and diluted	$	(1.83	)	$	(0.88	)	$	(3.12	)	$	(1.85	)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share


	June 30,
	2021		2020
Series A redeemable convertible preferred stock		3,804,344		3,804,344
Series B redeemable convertible preferred stock		1,209,621		1,209,621
Series C redeemable convertible preferred stock		2,342,857		2,342,857
Series D redeemable convertible preferred stock		2,447,818		2,447,818
Series E redeemable convertible preferred stock		1,899,847		1,899,847
Series F redeemable convertible preferred stock		1,062,715		—
Options to purchase common stock		5,185,736		2,490,706
Redeemable convertible preferred stock warrants		329,514		42,163
Total		18,282,452		14,237,356

Segment Information (Tables)

6 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

The following table summarizes select operating results information for each reportable segment (dollars in thousands):


	Three Months Ended June 30,						Six Months Ended June 30,
	2021			2020			2021			2020
Revenue
Surgical Glaucoma	$	11,988		$	3,299		$	20,127		$	9,399
Dry Eye		547			203			1,043			599
Total		12,535			3,502			21,170			9,998
Cost of goods sold
Surgical Glaucoma		1,773			1,508			3,631			3,022
Dry Eye		532			577			975			1,191
Total		2,305			2,085			4,606			4,213
Gross profit
Surgical Glaucoma		10,215			1,791			16,496			6,377
Dry Eye		15			(374	)		68			(592	)
Total		10,230			1,417			16,564			5,785
Operating expense		21,306			9,107			39,296			22,185
Loss from operations		(11,076	)		(7,690	)		(22,732	)		(16,400	)
Interest income		—			2			—			29
Interest expense		(1,082	)		(549	)		(2,166	)		(1,101	)
Other income (expense), net		(5,435	)		(73	)		(4,883	)		18
Loss before income tax	$	(17,593	)	$	(8,310	)	$	(29,781	)	$	(17,454	)

Company and Nature of Business - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands				3 Months Ended				6 Months Ended
	Jul. 19, 2021	Jul. 18, 2021	Jul. 07, 2021	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Estimated offering costs									$ 106
Accumulated deficit				$ 119,896				$ 119,896		$ 90,041
Net loss				$ 17,615	$ 12,240	$ 8,316	$ 9,175	29,855	$ 17,491
Subsequent Event
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Proceeds from initial public offering	$ 253,000
Stock issued upon conversion of convertible preferred shares		25,534,404
Stock split			On July 7, 2021 the Company effected a 2-for-1 stock split of its issued and outstanding shares of common stock and a proportional adjustment to the existing conversion ratios for each series of the Company’s redeemable convertible preferred stock.
IPO
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Estimated offering costs								$ 3,300
IPO \| Subsequent Event
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Sale of stock, price per share	$ 24.00
Proceeds from initial public offering	$ 253,000
Underwriting discounts and commissions	19,300
Estimated offering costs	$ 3,700
Warrants to purchase common stock	659,028
IPO \| Subsequent Event \| Common Stock
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Common stock issued	10,000,000
Sale of stock, price per share	$ 24.00
Underwriters' Option \| Subsequent Event \| Common Stock
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Common stock issued	1,500,000

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($) $ in Millions	1 Months Ended
	May 31, 2020	Jun. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Deferred offering costs		$ 3.3	$ 0.4
PPP Loan
Debt Instrument [Line Items]
Loan received	$ 2.2

Fair Value Measurements - Summary of Fair Value Measurement Liabilities Measured On Recurring Basis (Details) - Fair Value, Recurring - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Liabilities:
Total liabilities measured at fair value	$ 6,984	$ 2,112
Level 3
Liabilities:
Total liabilities measured at fair value	6,984	2,112
Redeemable Convertible Preferred Stock
Liabilities:
Total liabilities measured at fair value	6,984	2,112
Redeemable Convertible Preferred Stock \| Level 3
Liabilities:
Total liabilities measured at fair value	$ 6,984	$ 2,112

Fair value Measurement - Additional Information (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Fair Value, Recurring \| Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value of outstanding debt	$ 32.3	$ 31.9

Fair Value Measurements - Summary of Changes in Fair Value Level 3 Financial Liabilities (Details) - Level 3 - Redeemable Convertible Preferred Stock Warrants - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Beginning Balance	$ 1,557	$ 2,112	$ 144	$ 236
Change in fair value	5,427	(555)	73	(92)
Ending Balance	$ 6,984	$ 1,557	$ 217	$ 144

Balance Sheet Components - Summary of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 2,337	$ 2,012
Less: Accumulated depreciation	(919)	(743)
Property and equipment, net	1,418	1,269
Tools and Equipment
Property Plant And Equipment [Line Items]
Property and equipment, gross	1,552	1,523
Computer Equipment and Software
Property Plant And Equipment [Line Items]
Property and equipment, gross	108	118
Furniture and Fixtures
Property Plant And Equipment [Line Items]
Property and equipment, gross	43	43
Leasehold Improvements
Property Plant And Equipment [Line Items]
Property and equipment, gross	30	30
Construction In Process
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 604	$ 298

Balance Sheet Components - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Depreciation	$ 200	$ 200	$ 289	$ 288

Balance Sheet Components - Summary of Accrued and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Accrued expenses	$ 3,919	$ 1,971
Current portion of lease liabilities	112	395
Short term interest payable	267	274
Other accrued liabilities	456	446
Total accrued and other current liabilities	$ 4,754	$ 3,086

Balance Sheet Components - Summary of Other Noncurrent Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Redeemable preferred stock warrants liabilities	$ 6,984	$ 2,112
Long term interest payable	651	465
Noncurrent portion of lease liabilities	125	134
Other noncurrent liabilities	345	344
Total other noncurrent liabilities	$ 8,105	$ 3,055

Debt - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
Debt - Additional Information (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Nov. 30, 2020	Jan. 31, 2019
Debt Instrument [Line Items]
Long-term Debt	$ 35,000,000		$ 35,000,000
IPO
Debt Instrument [Line Items]
Proceeds from issuance of common stock			$ 60,000,000.0
2019 Warrants
Debt Instrument [Line Items]
Warrant term	7 years 9 months 18 days		7 years 9 months 18 days
Fair value of warrants			$ 200,000
Senior Secured 2019 Term Loan
Debt Instrument [Line Items]
Debt instrument, term			4 years
Debt instrument payment terms			The 2019 Term Loan required 18 monthly interest-only payments, which began on January 31, 2019, followed by 30 equal monthly installments of principal, plus interest. The interest-only period was extended by an additional six months upon achievement of the Tranche Three Milestone.
Debt instrument, frequency of periodic payment			interest-only payments
Debt instrument interest payment term			18 months
Debt instrument principal and interest payment term			30 months
Debt instrument interest payment extended term			6 months
Debt instrument, effective interest rate	14.52%		14.52%
Interest expense, debt	$ 0.0	$ 500,000	$ 0.0	$ 1,100,000
Debt issuance costs	1,500,000		$ 1,500,000
Debt discount amortized term			4 years
Percentage of prepayment premium year one			3.00%
Percentage of prepayment premium year two			2.00%
Percentage of prepayment premium year three			1.00%
Percentage of final payment fee			5.00%
Debt Instrument, Covenant Description			The Company was subject to financial covenants related to minimum trailing revenue targets that began on January 1, 2019, and are tested on a monthly basis. If only Tranche One Loans were funded, the Company had to achieve minimum net revenue of $7 million over a trailing 12-month period increasing to a maximum net revenue covenant of $35 million for the trailing 12-month period ending December 31, 2022, and thereafter. If only Tranche One Loans and Tranche Two Loans had been funded, the Company had to achieve minimum net revenue of $7 million over a trailing 12-month period increasing to a maximum net revenue covenant of $37.3 million for the 12-month period ending December 31, 2022, and thereafter. If Tranche Three Loans had been funded regardless of whether Tranche Two Loans have been funded, the Company had to achieve minimum net revenue of $15 million over a trailing 12-month period increasing to a maximum net revenue covenant of $46.7 million for the 12-month period ending December 31, 2022, and thereafter.
Senior Secured 2019 Term Loan \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument, variable rate			6.75%
Senior Secured 2019 Term Loan \| Tranche One Loans
Debt Instrument [Line Items]
Maximum borrowing capacity							$ 12,000,000.0
Debt instrument covenant minimum revenue	7,000,000		$ 7,000,000
Debt instrument covenant maximum revenue	35,000,000		35,000,000
Senior Secured 2019 Term Loan \| Tranche Two Loans
Debt Instrument [Line Items]
Maximum borrowing capacity							2,000,000.0
Senior Secured 2019 Term Loan \| Tranche Three Loans
Debt Instrument [Line Items]
Maximum borrowing capacity							6,000,000.0
Debt instrument covenant minimum revenue	15,000,000		15,000,000
Debt instrument covenant maximum revenue	$ 46,700,000		$ 46,700,000
Senior Secured 2019 Term Loan \| Tranche Three Loans \| Series C Redeemable Convertible Preferred Stock
Debt Instrument [Line Items]
Warrants issued to purchase shares of convertible preferred stock	12,649		12,649
Senior Secured 2019 Term Loan \| Tranche One and Two Loans
Debt Instrument [Line Items]
Long-term Debt	$ 14,000,000.0		$ 14,000,000.0
Debt instrument covenant minimum revenue	7,000,000		7,000,000
Debt instrument covenant maximum revenue	$ 37,300,000		$ 37,300,000
Senior Secured 2019 Term Loan \| Tranche One and Two Loans \| Series C Redeemable Convertible Preferred Stock
Debt Instrument [Line Items]
Warrants issued to purchase shares of convertible preferred stock	29,514		29,514
Warrant term	10 years		10 years
Class of warrant exercise price	$ 9.49		$ 9.49
Senior Secured 2020 Term Loan
Debt Instrument [Line Items]
Debt instrument, term			5 years
Debt instrument payment terms			The 2020 Term Loan requires 24 monthly interest-only payments, which began on December 1, 2020, followed by 36 equal monthly installments of principal, plus interest.
Debt instrument interest payment term			24 months
Debt instrument principal and interest payment term			36 months
Debt instrument interest payment extended term			12 months
Debt instrument, effective interest rate	13.59%		13.59%
Interest expense, debt	$ 1,100,000	$ 0.0	$ 2,200,000	$ 0.0
Debt issuance costs	500,000		$ 500,000
Debt discount amortized term			5 years
Percentage of prepayment premium year one			3.00%
Percentage of prepayment premium year two			2.00%
Percentage of prepayment premium year three			1.00%
Percentage of final payment fee			6.00%
Accrued amount related accretion on maturity payments	$ 700,000		$ 700,000		$ 500,000
Senior Secured 2020 Term Loan \| Series F Redeemable Convertible Preferred Stock
Debt Instrument [Line Items]
Warrants issued to purchase shares of convertible preferred stock	300,000		300,000
Warrant term	10 years		10 years
Class of warrant exercise price	$ 21.88		$ 21.88
Fair value of warrants			$ 1,800,000
Senior Secured 2020 Term Loan \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument, variable rate			7.00%
Senior Secured 2020 Term Loan \| Tranche One Loans
Debt Instrument [Line Items]
Maximum borrowing capacity						$ 12,000,000.0
Senior Secured 2020 Term Loan \| Tranche Two Loans
Debt Instrument [Line Items]
Maximum borrowing capacity						2,000,000.0
Senior Secured 2020 Term Loan \| Tranche Three Loans
Debt Instrument [Line Items]
Maximum borrowing capacity						21,000,000.0
Long-term Debt						21,000,000.0
Revolving 2020
Debt Instrument [Line Items]
Line of credit facility, commitment fee description			An unused line fee of 0.5% is payable monthly based on the average unused balance and a collateral management fee of 0.5% is payable monthly based on the outstanding balance of the 2020 Revolver.
Line of credit facility, unused capacity, commitment fee percentage			0.50%
Line of credit facility collateral fees	0.50%		0.50%
Line of credit facility commitment fee amount			$ 15,000,000.0
Line of credit facility, current borrowing capacity	$ 5,000,000.0		$ 5,000,000.0
Revolving 2020 \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument, variable rate			4.50%
Mid Cap Financial Services
Debt Instrument [Line Items]
Maximum borrowing capacity						40,000,000.0	25,000,000.0
Mid Cap Financial Services \| Senior Secured 2019 Term Loan
Debt Instrument [Line Items]
Maximum borrowing capacity							20,000,000.0
Mid Cap Financial Services \| Senior Secured 2020 Term Loan
Debt Instrument [Line Items]
Maximum borrowing capacity						35,000,000.0
Mid Cap Financial Services \| Revolver 2019
Debt Instrument [Line Items]
Maximum borrowing capacity							$ 5,000,000.0
Mid Cap Financial Services \| Revolving 2020
Debt Instrument [Line Items]
Maximum borrowing capacity						$ 5,000,000.0

Debt - Schedule of Long-term and Short-term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Principal payments due	$ 35,000	$ 35,000
Less: debt discount related to warrant liability and issuance costs	(2,698)	(3,045)
Total amounts outstanding	32,302	31,955
Less: Current portion	0	0
Total accrued and other current liabilities	32,302	31,955
Term Loan
Debt Instrument [Line Items]
Principal payments due	$ 35,000	$ 35,000

Debt - Schedule Relating to the Company's Debt (Details) $ in Thousands	Jun. 30, 2021 USD ($)
Debt Disclosure [Abstract]
2022	$ (1,944)
2023	(11,667)
2024	(11,667)
2025	(9,722)
Total repayments	$ (35,000)

Commitments and Contingencies - Additional Information (Details) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Sep. 30, 2019 ft²	Jun. 30, 2021 USD ($)	Jun. 30, 2020 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2020 USD ($)
Commitments And Contingencies Disclosure [Abstract]
Operating lease office space \| ft²	10,823
Lease expiration date	Jul. 31, 2021
Operating leases, rent expense \| $		$ 178	$ 138	$ 353	$ 313
Operating lease, discount rate		16.40%		16.40%
Operating lease term		2 years 10 months 24 days		2 years 10 months 24 days

Commitments and Contingencies - Schedule of Operating Lease Expense Recognized and Supplemental Cash Flow (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Commitments And Contingencies Disclosure [Abstract]
Operating lease expense	$ 178	$ 138	$ 353	$ 313
Cash paid for operating leases	176	$ 172	353	$ 344
New operating lease assets obtained in exchange for operating lease liabilities	$ 23		$ 23

Commitments and Contingencies - Schedule of Aggregate Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Commitments And Contingencies Disclosure [Abstract]
2021	$ 96	$ 440
2022	85	66
2023	73	68
2024	29	29
Total future minimum lease payments	283	603
Less: imputed interest	(46)	(74)
Present value of future minimum lease payments	237	529
Less: current portion of operating lease liability	(112)	(395)
Noncurrent portion of lease liabilities	$ 125	$ 134

Redeemable Convertible Preferred Stock - Summary of Redeemable Convertible Preferred Stock Issued and Outstanding (Details) - USD ($) $ / shares in Units, $ in Thousands	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Series A
Class Of Stock [Line Items]
Shares Authorized	3,804,344		3,804,344
Shares Issued	3,804,344		3,804,344
Shares Outstanding	3,804,344		3,804,344
Original Issuance Price	$ 1.38		$ 1.38
Liquidation Amount	$ 5,250		$ 5,250
Issuance Costs	9		9
Carrying Value	$ 5,241		$ 5,241
Series B
Class Of Stock [Line Items]
Shares Authorized	1,209,621		1,209,621
Shares Issued	1,209,621		1,209,621
Shares Outstanding	1,209,621		1,209,621
Original Issuance Price	$ 5.79		$ 5.79
Liquidation Amount	$ 7,000		$ 7,000
Issuance Costs	106		106
Carrying Value	$ 6,894		$ 6,894
Series C
Class Of Stock [Line Items]
Shares Authorized	2,372,371		2,372,371
Shares Issued	2,342,857		2,342,857
Shares Outstanding	2,342,857		2,342,857
Original Issuance Price	$ 9.49		$ 9.49
Liquidation Amount	$ 22,226		$ 22,226
Issuance Costs	208		208
Carrying Value	$ 22,018		$ 22,018
Series D
Class Of Stock [Line Items]
Shares Authorized	2,507,720		2,507,720
Shares Issued	2,447,818		2,447,818
Shares Outstanding	2,447,818		2,447,818
Original Issuance Price	$ 12.56		$ 12.56
Liquidation Amount	$ 30,750		$ 30,750
Issuance Costs	647		647
Carrying Value	$ 30,103		$ 30,103
Series E
Class Of Stock [Line Items]
Shares Authorized	1,921,902		1,921,902
Shares Issued	1,899,847		1,899,847
Shares Outstanding	1,899,847		1,899,847
Original Issuance Price	$ 15.87		$ 15.87
Liquidation Amount	$ 30,150		$ 30,150
Issuance Costs	106		106
Carrying Value	$ 30,044		$ 30,044
Series F
Class Of Stock [Line Items]
Shares Authorized	2,425,432		2,425,432
Shares Issued	1,062,715		1,062,715
Shares Outstanding	1,062,715		1,062,715
Original Issuance Price	$ 21.88		$ 21.88
Liquidation Amount	$ 23,250		$ 23,250
Issuance Costs	219		219
Carrying Value	$ 23,031		$ 23,031
Redeemable Convertible Preferred Stock
Class Of Stock [Line Items]
Shares Authorized	14,241,390		14,241,390
Shares Issued	12,767,202		12,767,202
Shares Outstanding	12,767,202	12,767,202	12,767,202	11,704,487	9,804,640
Liquidation Amount	$ 118,626		$ 118,626
Issuance Costs	1,295		1,295
Carrying Value	$ 117,331	$ 117,331	$ 117,331	$ 94,311	$ 64,256

Redeemable Convertible Preferred Stock - Additional Information (Details) - USD ($)		6 Months Ended
	Jul. 18, 2021	Jun. 30, 2021	Jun. 30, 2020
Class Of Stock [Line Items]
Temporary equity, dividends		$ 0
Proceeds from the issuance of Series E redeemable convertible preferred stock			$ 30,150,000
Convertible preferred stock, terms of conversion		each share of redeemable convertible preferred stock converts into two shares of common stock.
Minimum
Class Of Stock [Line Items]
Proceeds from the issuance of Series E redeemable convertible preferred stock		$ 75,000,000.0
IPO \| Minimum
Class Of Stock [Line Items]
Underwriter propose to sell common stock amount		425,000,000.0
Qualified IPO \| Minimum
Class Of Stock [Line Items]
Underwriter propose to sell common stock amount		$ 475,000,000.0
Subsequent Event
Class Of Stock [Line Items]
Stock issued upon conversion of redeemable convertible preferred shares (in shares)	25,534,404

Common Stock Warrants - Additional Information (Details) - Series A Redeemable Convertible Preferred Stock - $ / shares	Jun. 30, 2021	Sep. 30, 2011
Class Of Stock [Line Items]
Warrants to purchase shares of stock		129,310
Class of warrant exercise price		$ 0.05
Warrant outstanding	0

Redeemable Convertible Preferred Stock Warrants - Additional Information (Details) $ / shares in Units, $ in Millions	Jun. 30, 2021 USD ($) shares	Dec. 31, 2020 USD ($)	Nov. 30, 2020 USD ($) $ / shares shares	Nov. 30, 2019 shares	Jan. 31, 2019 USD ($) $ / shares shares
2019 Warrants
Class Of Warrant Or Right [Line Items]
Warrants fair value \| $	$ 1.0	$ 0.3			$ 0.2
Warrant term	7 years 9 months 18 days
2019 Warrants \| Measurement Input Expected Term
Class Of Warrant Or Right [Line Items]
Warrant term					10 years
2019 Warrants \| Measurement Input Risk Free Interest Rate
Class Of Warrant Or Right [Line Items]
Alternative investment, measurement input					0.0299
2019 Warrants \| Measurement Input Price Volatility
Class Of Warrant Or Right [Line Items]
Alternative investment, measurement input					0.5095
2019 Warrants \| Measurement Input Expected Dividend Rate
Class Of Warrant Or Right [Line Items]
Alternative investment, measurement input					0
2020 Warrants
Class Of Warrant Or Right [Line Items]
Warrants fair value \| $	$ 6.0	$ 1.8	$ 1.8
Warrant term	9 years 4 months 24 days
Series C Redeemable Convertible Preferred Stock \| 2019 Warrants
Class Of Warrant Or Right [Line Items]
Additional warrants issued expired	12,649
Series C Redeemable Convertible Preferred Stock \| 2019 Warrants \| Funding of Tranche 1 and Tranche 2 under 2019 Term Loan
Class Of Warrant Or Right [Line Items]
Warrants to purchase shares of stock					29,514
Class of warrant exercise price \| $ / shares					$ 9.49
Warrant term					10 years
Series C Redeemable Convertible Preferred Stock \| 2019 Warrants \| Funding of 2019 Term Loan Tranche 3
Class Of Warrant Or Right [Line Items]
Warrants to purchase shares of stock				12,649
Series F Redeemable Convertible Preferred Stock \| 2020 Warrants
Class Of Warrant Or Right [Line Items]
Warrants to purchase shares of stock			300,000
Class of warrant exercise price \| $ / shares			$ 21.88
Warrant term			10 years

Redeemable Convertible Preferred Stock Warrants - Calculation Assumption of Fair Value of Warrants Using Black-Scholes Option Pricing Model (Details) - 2019 Warrants	Jun. 30, 2021	Dec. 31, 2020	Jan. 31, 2019
Class Of Warrant Or Right [Line Items]
Warrants term (in years)	7 years 9 months 18 days
Measurement Input Expected Term
Class Of Warrant Or Right [Line Items]
Warrants term (in years)			10 years
Measurement Input Expected Term \| Minimum
Class Of Warrant Or Right [Line Items]
Warrants term (in years)		8 years 1 month 6 days
Measurement Input Expected Term \| Maximum
Class Of Warrant Or Right [Line Items]
Warrants term (in years)		8 years 6 months
Measurement Input Price Volatility
Class Of Warrant Or Right [Line Items]
Alternative investment, measurement input			0.5095
Measurement Input Price Volatility \| Minimum
Class Of Warrant Or Right [Line Items]
Alternative investment, measurement input		0.4218
Measurement Input Price Volatility \| Maximum
Class Of Warrant Or Right [Line Items]
Alternative investment, measurement input		0.4263
Measurement Input Risk Free Interest Rate
Class Of Warrant Or Right [Line Items]
Alternative investment, measurement input			0.0299
Measurement Input Risk Free Interest Rate \| Minimum
Class Of Warrant Or Right [Line Items]
Alternative investment, measurement input		0.0233
Measurement Input Risk Free Interest Rate \| Maximum
Class Of Warrant Or Right [Line Items]
Alternative investment, measurement input		0.0249
Measurement Input Expected Dividend Rate
Class Of Warrant Or Right [Line Items]
Alternative investment, measurement input			0

Redeemable Convertible Preferred Stock Warrants - Assumption Used To Determined Redeemable Convertible Preferred Stock Fair Value (Details) - 2020 Warrants	Jun. 30, 2021	Dec. 31, 2020
Class Of Warrant Or Right [Line Items]
Term (in years)	9 years 4 months 24 days
Minimum
Class Of Warrant Or Right [Line Items]
Term (in years)	14 days	6 months 29 days
Maximum
Class Of Warrant Or Right [Line Items]
Term (in years)	2 years 14 days	2 years 6 months 29 days
Measurement Input Price Volatility \| Minimum
Class Of Warrant Or Right [Line Items]
Alternative investment, measurement input	0.379	0.559
Measurement Input Price Volatility \| Maximum
Class Of Warrant Or Right [Line Items]
Alternative investment, measurement input	0.595	0.656
Measurement Input Risk Free Interest Rate \| Minimum
Class Of Warrant Or Right [Line Items]
Alternative investment, measurement input	0.0005	0.0008
Measurement Input Risk Free Interest Rate \| Maximum
Class Of Warrant Or Right [Line Items]
Alternative investment, measurement input	0.0026	0.0018

Common Stock - Additional Information (Details)	6 Months Ended
Common Stock - Additional Information (Details)	Jun. 30, 2021 USD ($) Vote $ / shares shares	Dec. 31, 2020 $ / shares shares
Equity [Abstract]
Common stock, shares authorized	21,831,000	21,831,000
Common stock, par value \| $ / shares	$ 0.001	$ 0.001
Common stock, shares issued	9,732,032	9,509,182
Common stock, shares outstanding	9,732,032	9,509,182
Dividends declared \| $	$ 0
Number of votes entitled per share of common stock \| Vote	1

Common Stock - Reserved Common Stock for Future Issuances (Details) - shares	Jun. 30, 2021	Dec. 31, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	31,620,028	29,782,878
Series A Redeemable Convertible Preferred Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	7,608,688	7,608,688
Series B Redeemable Convertible Preferred Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	2,419,242	2,419,242
Series C Redeemable Convertible Preferred Stock and Warrants
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	4,744,742	4,744,742
Series D Redeemable Convertible Preferred Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	4,895,636	4,895,636
Series E Redeemable Convertible Preferred Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	3,799,694	3,799,694
Series F Redeemable Convertible Preferred Stock and Warrants
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	2,725,430	2,725,430
Exercise of Options under Stock Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	5,185,736	3,137,776
Issuance of Options under Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	240,860	451,670

Stock Option Plan - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2011	Dec. 31, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock available for issuance	240,860			451,670
Weighted-average grant-date fair values of options granted	$ 10.42	$ 1.57
Aggregate intrinsic value of options exercised	$ 3.3
Unrecognized stock-based compensation of unvested options	$ 25.6
Weighted-average period expected to recognize	3 years 9 months 18 days
Dividend yield	0.00%
2011 Plan \| Incentive Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock option grant period			5 years
Percentage of voting power required to own			10.00%
2011 Plan \| Options Granted to New Hires \| At the End of One Year
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage			25.00%
2011 Plan \| Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock option grant period			10 years
2011 Plan \| Maximum \| Incentive Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Exercise price percentage of an ISO granted			110.00%
2011 Plan \| Minimum \| Incentive Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Exercise price percentage of an ISO granted			10.00%
2011 Plan \| Minimum \| Options Granted to New Hires
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period			4 years
2011 Plan \| Minimum \| Options Granted Merit Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period			4 years

Stock Option Plan - Summary of Company stock Option Activity (Detail) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2021 USD ($) $ / shares shares	Dec. 31, 2020 USD ($) $ / shares shares
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Shares Available for Grant	451,670
Shares Available for Grant, Additional shares reserved	2,060,000
Shares Available for Grant, Option granted	(2,339,000)
Shares Available for Grant, Options forfeited/cancelled	68,190
Shares Available for Grant	240,860	451,670
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Number of Options	3,137,776
Number of Options, Option granted	2,339,000
Number of Options, Options forfeited/cancelled	(68,190)
Number of Options, Options exercised	(222,850)
Number of Options	5,185,736	3,137,776
Number of Options, Vested and exercisable as of June 30, 2021	1,841,606
Number of Options, Vested and expected to vest as of June 30, 2021	5,155,736
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Weighted-Average Exercise Price \| $ / shares	$ 0.94
Weighted-Average Exercise Price, Options granted \| $ / shares	10.56
Weighted-Average Exercise Price, Options forfeited/cancelled \| $ / shares	2.21
Weighted-Average Exercise Price, Options exercised \| $ / shares	0.94
Weighted-Average Exercise Price \| $ / shares	5.26	$ 0.94
Weighted-Average Exercise Price, Vested and exercisable as of June 30, 2021 \| $ / shares	0.75
Weighted-Average Exercise Price, Expected to vest as of June 30, 2021 \| $ / shares	$ 5.29
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term
Weighted Average Remaining Contractual Term	7 years 9 months 18 days	6 years 9 months 18 days
Weighted average contractual term, vested and exercisable	5 years
Weighted average contractual term, vested and expected	8 years
Average Intrinsic Value \| $	$ 39,934	$ 18,656
Average Intrinsic Value, Vested and exercisable as of June 30, 2021 \| $	18,337
Average Intrinsic Value, Vested and expected as of June 30, 2021 \| $	$ 39,625

Stock Option Plan - Summary of Stock Based Compensation Fair Value Assumptions (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Dividend yield			0.00%
Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)	6 years 2 months 4 days	6 years 29 days	6 years 2 months 4 days	6 years 29 days
Expected volatility	61.10%	54.70%	61.10%	54.70%
Risk-free interest rate	1.05%	0.56%	1.05%	1.77%
Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)	5 years 8 months 26 days	5 years 10 months 6 days	4 years 11 months 26 days	5 years 10 months 6 days
Expected volatility	59.90%	53.90%	56.70%	48.30%
Risk-free interest rate	0.95%	0.33%	0.48%	0.33%

Stock Option Plan - Summary of Share-Based Compensation Expense By Function (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	$ 931	$ 65	$ 1,208	$ 126
Cost of Goods Sold
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	17	4	24	5
Research and Development
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	101	14	138	23
Selling, General and Administrative
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	$ 813	$ 47	$ 1,046	$ 98

Net Loss Per Share Attributable to Common Stockholders - Schedule of Computation of Basic and Diluted Net Loss per Share Attributable to Common Stockholders (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Numerator:
Net loss attributable to common stockholders	$ (17,615)	$ (12,240)	$ (8,316)	$ (9,175)	$ (29,855)	$ (17,491)
Denominator:
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted	9,610,408		9,457,893		9,564,096	9,453,640
Net loss per share attributable to common stockholders, basic and diluted	$ (1.83)		$ (0.88)		$ (3.12)	$ (1.85)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22658-107794

+ Details

Defined Contribution Plan - Additional Information (Details)	6 Months Ended
	Jun. 30, 2021
Postemployment Benefits [Abstract]
Defined contribution plan, maximum annual contributions per employee	100.00%

Segment Information - Additional Information (Details)	6 Months Ended
Segment Information - Additional Information (Details)	Jun. 30, 2021 Segment
Segment Reporting [Abstract]
Number of Reportable Segments	2

Segment Information - Summary of Operating Result Information for Each Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenue
Revenue	$ 12,535	$ 3,502	$ 21,170	$ 9,998
Cost of goods sold
Cost of goods sold	2,305	2,085	4,606	4,213
Gross profit
Gross profit	10,230	1,417	16,564	5,785
Operating expense	(21,306)	(9,107)	(39,296)	(22,185)
Loss from operations	(11,076)	(7,690)	(22,732)	(16,400)
Interest income		2		29
Interest expense	(1,082)	(549)	(2,166)	(1,101)
Other income (expense), net	(5,435)	(73)	(4,883)	18
Loss before income tax	(17,593)	(8,310)	(29,781)	(17,454)
Surgical Glaucoma
Revenue
Revenue	11,988	3,299	20,127	9,399
Cost of goods sold
Cost of goods sold	1,773	1,508	3,631	3,022
Gross profit
Gross profit	10,215	1,791	16,496	6,377
Dry Eye
Revenue
Revenue	547	203	1,043	599
Cost of goods sold
Cost of goods sold	532	577	975	1,191
Gross profit
Gross profit	$ 15	$ (374)	$ 68	$ (592)

Subsequent Events - Additional Information (Details) $ / shares in Units, $ in Thousands				3 Months Ended				6 Months Ended
	Jul. 19, 2021 USD ($) $ / shares shares	Jul. 18, 2021 shares	Jul. 07, 2021	Jun. 30, 2021 USD ($) $ / shares shares	Mar. 31, 2021 USD ($)	Jun. 30, 2020 USD ($)	Mar. 31, 2020 USD ($)	Jun. 30, 2021 USD ($) $ / shares shares	Jun. 30, 2020 USD ($)	Jul. 31, 2021 shares	Dec. 31, 2020 $ / shares shares
Subsequent Event [Line Items]
Estimated offering costs \| $									$ 106
Common stock warrants, net exercised \| $				$ 196	$ 11	$ 7	$ 1
Common stock, shares authorized				21,831,000				21,831,000			21,831,000
Common stock, par value \| $ / shares				$ 0.001				$ 0.001			$ 0.001
Common stock reserved for future issuance				31,620,028				31,620,028			29,782,878
IPO
Subsequent Event [Line Items]
Estimated offering costs \| $								$ 3,300
Subsequent Event
Subsequent Event [Line Items]
Stock split, conversion ratio			2
Proceeds, net of underwriting discounts and commissions \| $	$ 253,000
Stock issued upon conversion of convertible preferred shares		25,534,404
Stock split, description			On July 7, 2021 the Company effected a 2-for-1 stock split of its issued and outstanding shares of common stock and a proportional adjustment to the existing conversion ratios for each series of the Company’s redeemable convertible preferred stock.
Subsequent Event \| 2021 Equity Incentive Plan
Subsequent Event [Line Items]
Common stock reserved for future issuance										5,200,000
Common stock granted upon pricing of IPO										103,903
Subsequent Event \| 2021 Employee Stock Purchase Plan
Subsequent Event [Line Items]
Common stock reserved for future issuance										850,000
Subsequent Event \| IPO
Subsequent Event [Line Items]
Sale of stock, price per share \| $ / shares	$ 24.00
Proceeds, net of underwriting discounts and commissions \| $	$ 253,000
Warrants to purchase common stock	659,028
Underwriting discounts and commissions \| $	$ 19,300
Estimated offering costs \| $	$ 3,700
Common stock, shares authorized	200,000,000
Common stock, par value \| $ / shares	$ 0.001
Preferred stock, shares authorized	10,000,000
Preferred stock par value \| $ / shares	$ 0.001
Subsequent Event \| IPO \| Common Stock
Subsequent Event [Line Items]
Number of shares sold	10,000,000
Sale of stock, price per share \| $ / shares	$ 24.00
Subsequent Event \| Underwriters' Option \| Common Stock
Subsequent Event [Line Items]
Number of shares sold	1,500,000