RxSight (RXST) 10-Q 10 Nov 21 2021 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2021	Oct. 29, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Entity Registrant Name	RxSIGHT, INC.
Entity Central Index Key	0001111485
Entity Tax Identification Number	94-3268801
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	No
Entity Filer Category	Non-accelerated Filer
Entity File Number	001-40690
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Small Business	true
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	100 Columbia
Entity Address, City or Town	Aliso Viejo
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92656
City Area Code	949
Local Phone Number	521-7830
Trading Symbol	RXST
Title of 12(b) Security	Common Stock, par value $0.001 per share
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		27,353,915
Document Quarterly Report	true
Document Transition Report	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 68,278	$ 13,994
Short-term investments	99,985	54,981
Accounts receivable	4,357	2,865
Inventories	9,442	8,288
Prepaid and other current assets	4,274	1,372
Total current assets	186,336	81,500
Property and equipment, net	11,991	13,287
Operating leases right-of-use assets	4,561	5,319
Restricted cash	561	461
Other assets	287	110
Total assets	203,736	100,677
Current liabilities:
Accounts payable	1,691	1,134
Accrued expenses and other current liabilities	6,016	4,174
Warrant liability	0	5,018
Lease liabilities	1,469	1,274
Total current liabilities	9,176	11,600
Long-term warrant liability	0	3,828
Long-term lease liabilities	4,033	5,079
Term loan, net	39,636	24,399
Total liabilities	52,845	44,906
Commitments and contingencies (Note 12)
Redeemable common stock:
Common stock, $0.001 par value, no shares authorized, issued or outstanding as of September 30, 2021 and 24,545,966 shares authorized, 3,813,450 shares issued and outstanding as of December 31, 2020	0	80,780
Notes receivable for common stock issued	0	(803)
Redeemable stock options	0	53,085
Stockholders' deficit:
Common stock, value	27	0
Preferred stock, $0.001 par value, 100,000,000 shares authorized, no shares issued and outstanding as of September 30, 2021	0	0
Additional paid-in capital	614,418	0
Accumulated other comprehensive loss	(11)	(3)
Accumulated deficit	(463,543)	(430,588)
Total stockholders' deficit	150,891	(430,591)
Total liabilities, redeemable common stock, stock options, convertible preferred stock and stockholders' deficit	203,736	100,677
Convertible Preferred Stock
Convertible preferred stock:
Preferred stock, $0.001 par value, no shares authorized, issued or outstanding as of September 30, 2021 and 16,572,792 shares authorized, 14,376,272 shares issued and outstanding as of December 31, 2020 (redeemable)	0	353,300
Series G Common Stock [Member]
Stockholders' deficit:
Common stock, value	0	0
Series W Common Stock [Member]
Stockholders' deficit:
Common stock, value	$ 0	$ 0

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2021	Dec. 31, 2020
Common stock par value (USD per share)	$ 0.001	$ 0.001
Common stock, authorized (in shares)	900,000,000
Common stock issued (in shares)	27,324,054
Common stock outstanding (in shares)	27,324,054
Preferred stock par value per share	$ 0.001	$ 0.001
Preferred stock, shares authorized	100,000,000	16,572,792	[1]
Preferred Shares Issued	0	14,376,272	[1]
Preferred stock, shares outstanding	0	14,376,272	[1]
Convertible Common Stock [Member]
Temporary equity, shares authorized (in shares)	0	24,545,966
Temporary equity, shares issued (in shares)	0	3,813,450
Temporary equity, shares outstanding (in shares)	0	3,813,450
Common stock par value (USD per share)	$ 0.001	$ 0.001
Convertible Preferred Stock [Member]
Temporary equity, shares authorized (in shares)	0	16,572,792
Temporary equity, shares issued (in shares)	0	14,376,272
Temporary equity, shares outstanding (in shares)	0	14,376,272
Preferred stock par value per share	$ 0.001	$ 0.001
Preferred stock, shares outstanding	14,376,272
Series G Common Stock [Member]
Common stock par value (USD per share)	$ 0.001	$ 0.001
Common stock, authorized (in shares)	0	1
Common stock issued (in shares)		1
Common stock outstanding (in shares)	0	1
Series W Common Stock [Member]
Common stock par value (USD per share)	$ 0.001	$ 0.001
Common stock, authorized (in shares)	0	1
Common stock issued (in shares)	0
Common stock outstanding (in shares)	0	0
[1]	The shares authorized, issued and outstanding do not reflect any anti-dilution provisions of Series C, Series D, Series E and Series F as a result of the Series G financing.

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Sales	$ 5,786,000	$ 4,170,000	$ 14,167,000	$ 9,764,000
Cost of sales	4,445,000	3,450,000	12,519,000	9,439,000
Gross profit	1,341,000	720,000	1,648,000	325,000
Operating expenses:
Selling, general and administrative	9,076,000	3,825,000	21,189,000	10,773,000
Research and development	5,377,000	5,801,000	18,583,000	16,662,000
Total operating expenses	14,453,000	9,626,000	39,772,000	27,435,000
Loss from operations	(13,112,000)	(8,906,000)	(38,124,000)	(27,110,000)
Other income (expense), net:
Change in fair value of warrants	1,503,000	39,518,000	2,717,000	27,933,000
Expiration of warrant			5,018,000
Interest expense	(1,079,000)	(3,000)	(2,603,000)	(12,000)
Interest and other income	11,000	63,000	44,000	522,000
(Loss) income before income taxes	(12,677,000)	30,672,000	(32,948,000)	1,333,000
Income tax expense	(4,000)	8,000	6,000	53,000
Net (loss) income	(12,673,000)	30,664,000	(32,954,000)	1,280,000
Accretion to redemption value of redeemable preferred stock and redeemable stock options		(7,829,000)		(16,172,000)
Net (loss) income attributable to common stockholders	(12,673,000)	5,900,000	(32,954,000)	(14,892)
Other comprehensive income (loss)
Unrealized loss on short-term investments	(5,000)	(8,000)	(2,000)	(43,000)
Foreign currency translation loss	(3,000)	(9,000)	(6,000)	(7,000)
Total other comprehensive loss	(8,000)	(17,000)	(8,000)	(50,000)
Comprehensive (loss) income	$ (12,681,000)	$ 30,647,000	$ (32,962,000)	$ 1,230,000
Net (loss) income per share:
Attributable to common stock, basic	$ (0.68)	$ 0	$ (3.66)	$ 0
Attributable to common stock, diluted	$ (0.68)	$ 0	$ (3.66)	$ 0
Weighted-average shares used in computing net loss per share:
Attributable to common stock, basic	18,732,459	0	8,998,895	0
Attributable to common stock, diluted	18,732,459	0	8,998,895	0
Series G Preferred Stock [Member]
Net (loss) income per share:
Attributable to Series G common stock, basic and diluted	$ 0	$ 0.01	$ 0	$ (0.76)
Weighted-average shares used in computing net loss per share:
Attributable to Series G common stock, basic and diluted	0	1	0	1
Redeemable Common Stock
Other income (expense), net:
Earnings Allocated to Redeemable Preferred Stock	$ 0	$ (16,935,000)	$ 0	$ 0
Net (loss) income per share:
Attributable to common stock, basic	$ 0	$ 1.55	$ 0	$ (4.06)
Attributable to common stock, diluted	$ 0	$ 1.13	$ 0	$ (4.06)
Weighted-average shares used in computing net loss per share:
Attributable to common stock, basic	0	3,798,504	0	3,672,121
Attributable to common stock, diluted	0	5,571,793	0	3,672,121

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Redeemable Common Stock, Stock Options, Convertible Preferred Stock and Stockholders' Equity (Deficit) (Unaudited) - USD ($) $ in Thousands	Total		Redeemable Common Stock	Notes Receivable for Redeemable Common Stock Issued	Redeemable Stock Options	Redeemable Convertible Preferred Stock	Common Stock	Additional Paid-in Capital	Notes Receivable for Common Stock Issued	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Temporary Equity, Beginning Balance, Amount at Dec. 31, 2019			$ 56,422	$ 855	$ 59,631	$ 327,581
Temporary Equity, Beginning Balance, Shares at Dec. 31, 2019			3,563,884			14,374,455
Stockholders' Equity, Beginning Balance, Amount at Dec. 31, 2019	$ (419,809)									$ 46	$ (419,855)
Stockholders' Equity, Beginning Balance, Shares at Dec. 31, 2019							1
Exercise of stock options			$ 303		(257)
Exercise of stock options, shares			11,351
Stock-based compensation expense	623							623
Accretion to redemption value of redeemable stock options	2,924				(2,924)						2,924
Accretion to redemption value of redeemable stock	(10,663)		$ 3,493			$ 7,170		(623)			(10,040)
Unrealized gain on short-term investments and cash equivalents, net of tax	77									77
Foreign currency translation adjustment	(1)									(1)
Change in notes receivable for common stock issued				84
Net loss	(16,502)										(16,502)
Temporary Equity, Ending Balance, Amount at Mar. 31, 2020			$ 60,218	(771)	56,450	$ 334,751
Temporary Equity, Ending Balance, Shares at Mar. 31, 2020			3,575,235			14,374,455
Stockholders' Equity, Ending Balance, Amount at Mar. 31, 2020	(443,351)									122	(443,473)
Stockholders' Equity, Ending Balance, Shares at Mar. 31, 2020							1
Temporary Equity, Beginning Balance, Amount at Dec. 31, 2019			$ 56,422	855	59,631	$ 327,581
Temporary Equity, Beginning Balance, Shares at Dec. 31, 2019			3,563,884			14,374,455
Stockholders' Equity, Beginning Balance, Amount at Dec. 31, 2019	(419,809)									46	(419,855)
Stockholders' Equity, Beginning Balance, Shares at Dec. 31, 2019							1
Net loss	1,280
Temporary Equity, Ending Balance, Amount at Sep. 30, 2020			$ 76,463	790	50,680
Temporary Equity, Ending Balance, Amount at Sep. 30, 2020						$ 347,697
Temporary Equity, Ending Balance, Shares at Sep. 30, 2020			3,809,574			14,374,455
Stockholders' Equity, Ending Balance, Amount at Sep. 30, 2020	(445,860)							0		(4)	(445,856)
Stockholders' Equity, Ending Balance, Shares at Sep. 30, 2020							1
Temporary Equity, Beginning Balance, Amount at Mar. 31, 2020			$ 60,218	(771)	56,450	$ 334,751
Temporary Equity, Beginning Balance, Shares at Mar. 31, 2020			3,575,235			14,374,455
Stockholders' Equity, Beginning Balance, Amount at Mar. 31, 2020	(443,351)									122	(443,473)
Stockholders' Equity, Beginning Balance, Shares at Mar. 31, 2020							1
Exercise of stock options	5,128				(4,293)
Exercise of stock options, shares			211,590
Stock-based compensation expense	1,083							1,083
Accretion to redemption value of redeemable stock options	2,259				(2,259)						2,259
Accretion to redemption value of redeemable stock	(11,330)		$ 4,975			$ 6,355		(1,083)			(10,247)
Unrealized gain on short-term investments and cash equivalents, net of tax	(112)									(112)
Foreign currency translation adjustment	3									3
Change in notes receivable for common stock issued				(6)
Net loss	(12,882)										(12,882)
Temporary Equity, Ending Balance, Amount at Jun. 30, 2020			$ 70,321	777
Temporary Equity, Ending Balance, Amount at Jun. 30, 2020					49,899	$ 341,106
Temporary Equity, Ending Balance, Shares at Jun. 30, 2020			3,786,825			14,374,455
Stockholders' Equity, Ending Balance, Amount at Jun. 30, 2020	(464,330)									13	(464,343)
Stockholders' Equity, Ending Balance, Shares at Jun. 30, 2020							1
Exercise of stock options			$ 551		(457)
Exercise of stock options, shares			22,749
Stock-based compensation expense	1,242							1,242
Accretion to redemption value of redeemable stock options					1,238						(1,238)
Accretion to redemption value of redeemable stock	(1,238)		$ 5,590		(12,181)	$ 6,591		(1,242)			(10,939)
Unrealized gain on short-term investments and cash equivalents, net of tax	(8)									(8)
Foreign currency translation adjustment	(9)									(9)
Change in notes receivable for common stock issued				(13)
Net loss	30,664										30,664
Temporary Equity, Ending Balance, Amount at Sep. 30, 2020			$ 76,463	790	50,680
Temporary Equity, Ending Balance, Amount at Sep. 30, 2020						$ 347,697
Temporary Equity, Ending Balance, Shares at Sep. 30, 2020			3,809,574			14,374,455
Stockholders' Equity, Ending Balance, Amount at Sep. 30, 2020	(445,860)							0		(4)	(445,856)
Stockholders' Equity, Ending Balance, Shares at Sep. 30, 2020							1
Temporary Equity, Beginning Balance, Amount at Dec. 31, 2020	353,300	[1]	$ 80,780		53,085	$ 353,300
Temporary Equity, Beginning Balance, Amount at Dec. 31, 2020	(803)			(803)
Temporary Equity, Beginning Balance, Shares at Dec. 31, 2020			3,813,450			14,376,272
Stockholders' Equity, Beginning Balance, Amount at Dec. 31, 2020	(430,591)									(3)	(430,588)
Stockholders' Equity, Beginning Balance, Shares at Dec. 31, 2020							1
Exercise of stock options			$ 6,922		(5,715)
Exercise of stock options, shares			280,545
Stock-based compensation expense	1,239							1,239
Unrealized gain on short-term investments and cash equivalents, net of tax	7									7
Foreign currency translation adjustment	(4)									(4)
Change in notes receivable for common stock issued				(14)
Reclassification of shares of redeemable common stock to shares of common stock	86,885		$ (87,702)	817			$ 4	87,698	(817)
Reclassification of shares of redeemable common stock to shares of common stock, shares			(4,093,995)				4,093,995
Reclassification of redeemable common stock options to common stock options	47,370				(47,370)			47,370
Net loss											(6,805)
Temporary Equity, Ending Balance, Amount at Mar. 31, 2021			$ 0		0	$ 353,300
Temporary Equity, Ending Balance, Amount at Mar. 31, 2021				0
Temporary Equity, Ending Balance, Shares at Mar. 31, 2021			0			14,376,272
Stockholders' Equity, Ending Balance, Amount at Mar. 31, 2021	(301,899)						$ 4	136,307	(817)		(437,393)
Stockholders' Equity, Ending Balance, Shares at Mar. 31, 2021							4,093,996
Temporary Equity, Beginning Balance, Amount at Dec. 31, 2020	353,300	[1]	$ 80,780		53,085	$ 353,300
Temporary Equity, Beginning Balance, Amount at Dec. 31, 2020	(803)			(803)
Temporary Equity, Beginning Balance, Shares at Dec. 31, 2020			3,813,450			14,376,272
Stockholders' Equity, Beginning Balance, Amount at Dec. 31, 2020	$ (430,591)									(3)	(430,588)
Stockholders' Equity, Beginning Balance, Shares at Dec. 31, 2020							1
Conversion of preferred stock to common stock upon initial public offering, net of fractional shares settled (in shares)	4,093,995
Net loss	$ (32,954)
Temporary Equity, Ending Balance, Amount at Sep. 30, 2021			$ 0	0	0	$ 0
Temporary Equity, Ending Balance, Amount at Sep. 30, 2021	0
Temporary Equity, Ending Balance, Shares at Sep. 30, 2021			0			0
Stockholders' Equity, Ending Balance, Amount at Sep. 30, 2021	$ 150,891						$ 27	614,418	0	(11)	(463,543)
Stockholders' Equity, Ending Balance, Shares at Sep. 30, 2021	27,324,054						27,324,054
Temporary Equity, Beginning Balance, Amount at Mar. 31, 2021			$ 0		0	$ 353,300
Temporary Equity, Beginning Balance, Amount at Mar. 31, 2021				0
Temporary Equity, Beginning Balance, Shares at Mar. 31, 2021			0			14,376,272
Stockholders' Equity, Beginning Balance, Amount at Mar. 31, 2021	$ (301,899)						$ 4	136,307	(817)		(437,393)
Stockholders' Equity, Beginning Balance, Shares at Mar. 31, 2021							4,093,996
Exercise of stock options	125							125
Exercise of stock options, shares							30,215
Stock-based compensation expense	1,406							1,406
Unrealized gain on short-term investments and cash equivalents, net of tax	(4)									(4)
Foreign currency translation adjustment	1									1
Change in notes receivable for common stock issued	452			452
Net loss	(13,477)										(13,477)
Temporary Equity, Ending Balance, Amount at Jun. 30, 2021			$ 0		0	$ 353,300
Temporary Equity, Ending Balance, Amount at Jun. 30, 2021				0
Temporary Equity, Ending Balance, Shares at Jun. 30, 2021			0			14,376,272
Stockholders' Equity, Ending Balance, Amount at Jun. 30, 2021	(313,396)						$ 4	137,838	(365)	(3)	(450,870)
Stockholders' Equity, Ending Balance, Shares at Jun. 30, 2021							4,124,211
Exercise of stock options	46							46
Exercise of stock options, shares							11,051
Stock-based compensation expense	2,013							2,013
Proceeds from notes receivable	136								136
Surrender of common stock in exchange for cancellation of note receivable, Shares							(11,011)
Surrender of common stock in exchange for cancellation of note receivable								(229)	229
Exercise of preferred stock warrants, net of shares withheld for exercise price	(2,011)					$ 3,912		(2,011)
Exercise of preferred stock warrants, net of shares withheld for exercise price, Shares						100,261
Issuance of common stock in connection with initial public offering, net of issuance costs (in shares)							8,248,549
Issuance of common stock in connection with initial public offering, net of issuance costs	119,582						$ 8	119,574
Conversion of preferred stock to common stock upon initial public offering, net of fractional shares settled						$ (357,212)
Conversion of preferred stock to common stock upon initial public offering, net of fractional shares settled (in shares)						(14,476,533)
Conversion of preferred stock to common stock upon initial public offering, net of fractional shares settled (in shares)							14,951,254
Conversion of preferred stock to common stock upon initial public offering, net of fractional shares settled	357,202						$ 15	357,187
Unrealized gain on short-term investments and cash equivalents, net of tax	(5)									(5)
Foreign currency translation adjustment	(3)									(3)
Net loss	(12,673)										(12,673)
Temporary Equity, Ending Balance, Amount at Sep. 30, 2021			$ 0	$ 0	$ 0	$ 0
Temporary Equity, Ending Balance, Amount at Sep. 30, 2021	0
Temporary Equity, Ending Balance, Shares at Sep. 30, 2021			0			0
Stockholders' Equity, Ending Balance, Amount at Sep. 30, 2021	$ 150,891						$ 27	$ 614,418	$ 0	$ (11)	$ (463,543)
Stockholders' Equity, Ending Balance, Shares at Sep. 30, 2021	27,324,054						27,324,054
[1]	The carrying value reflects the gross proceeds received from the sale of the preferred stock less issuance costs and the fair value at issuance of preferred stock warrants classified as a liability, plus accretion of redemption value.

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Redeemable Common Stock, Stock Options, Convertible Preferred Stock and Stockholders' Deficit (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2021	Mar. 31, 2021
Statement Of Stockholders Equity [Abstract]
Redeemable common stock reclassified, shares		4,093,995
Common stock after reclassification of redeemable common stock, shares		4,093,995
Proceeds from Issuance of Common Stock	$ 12,400
Convertible Preferred Stock Shares Issued Upon Conversion	14,725,309
Fractional shares settled upon conversion of preferred stock to common stock	$ 11

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Operating Activities:
Net (loss) income	$ (32,954)	$ 1,280
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Depreciation and amortization	2,950	2,866
Amortization of right-of-use lease assets	19	151
Amortization of debt issuance costs and premium	361	0
Change in fair value of warrants	(2,717)	(27,933)
Gain on expiration of warrant	(5,018)	0
Amortization of discount on short-term investments	(19)	(430)
Stock-based compensation	4,658	2,948
Provision for excess and obsolete inventory	2,357	28
Change in operating assets and liabilities:
Accounts receivable	(1,492)	(650)
Inventories	(3,511)	(1,940)
Prepaid and other assets	(3,155)	493
Accounts payable	454	(597)
Accrued expenses and other liabilities	2,081	(3,192)
Net cash used in operating activities	(35,986)	(26,976)
Investing Activities:
Purchases of property and equipment	(1,575)	(2,001)
Proceeds from maturities of short-term investments	55,000	95,000
Purchases of short-term investments	(99,986)	(62,892)
Net cash (used in) provided by investing activities	46,561	30,107
Financing Activities:
Proceeds from term loan	15,000	0
Payments of debt issuance costs	(124)	0
Proceeds from Warrant Exercises	790	0
Proceeds from Issuance Initial Public Offering	119,582	0
Principal payments on finance lease liabilities	(21)	(131)
Payments of deferred offering costs	(242)	0
Change in notes receivables for redeemable common stock issued	575	65
Proceeds from exercise of stock options	1,378	975
Net cash provided by financing activities	136,938	909
Effect of foreign exchange rate on cash, cash equivalents and restricted cash	(7)	(7)
Net increase in cash, cash equivalents and restricted cash	54,384	4,033
Cash, cash equivalents and restricted cash - beginning of period	14,455	8,830
Cash, cash equivalents and restricted cash - end of period	68,839	12,863
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	932	740
Cash paid for income taxes	19	58
Cash paid for interest on financing leases	4	12
Cash paid for interest on term loan	2,237	0
Right-of-use assets obtained in exchange for lease obligations:
Operating lease	103	1,923
Finance Lease	0	48
Lease obligations recorded for right-of-use assets:
Operating lease	103	1,923
Finance Lease	0	(48)
Acquisition of property and equipment included in accounts payable and accrued expenses and other current liabilities	138	212
Accretion to redemption value of redeemable stock and stock options	0	39,181
Payment-in-kind interest income added to principal of notes receivable	28	41
Reclassification from warrant liability to additional paid-in capital for warrants exercised	1,111	24
Reclassification of 4,093,995 shares of redeemable common stock to 4,093,995 shares of common stock	87,702	0
Reclassification of redeemable common stock options to common stock options	47,370	0
Conversion of preferred stock to common stock upon initial public offering	357,202	0
Reclassification of deferred financing costs	$ 3,156	$ 0

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Parenthetical)	9 Months Ended
	Sep. 30, 2021shares
Statement Of Cash Flows [Abstract]
Redeemable common stock reclassified	4,093,995
Common stock after reclassification of redeemable common stock	4,093,995

Organization and Basis of Prese

Organization and Basis of Presentation	9 Months Ended
	Sep. 30, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization and Basis of Presentation	Note 1 - Organization and Basis of Presentation RxSight®, Inc. (the “Company”) is a Delaware corporation headquartered in Aliso Viejo, California with two wholly owned subsidiaries. One subsidiary is located in Amsterdam, Netherlands, with registered branches in the United Kingdom and Ireland. The Ireland registered branch was closed in 2020. The Netherlands entity also has a wholly owned subsidiary in Germany. A second subsidiary, closed in 2020, was located in Tijuana, Mexico. The Company is engaged in the research and development, manufacture and sale of light adjustable intraocular lenses used in cataract surgery along with capital equipment used with the lenses. The Company’s products, which include the light adjustable lens (“RxLAL”®) and a specially designed machine for delivering light to the eye, the Light Delivery Device (“LDD™”), are approved by the United States (“U.S.”) Food and Drug Administration (“FDA”) for sale in the U.S. and have regulatory approval in the U.S and Europe. The Company began marketing its products in the U.S. during the second quarter of 2019 and in Europe during the third quarter of 2019. The RxLAL is a premium intraocular lens (“IOL”) which is partially reimbursable under Medicare. The Company competes with other IOLs in the premium market in the U.S. and Europe. The accompanying unaudited condensed consolidated financial statements include the accounts of RxSight, Inc. and its wholly owned subsidiaries, RxSight, B.V., located in the Netherlands, RxSight GmbH, located in Germany, and RxSight S de R.L. de C.V., located in Mexico. All significant inter-company balances and transactions have been eliminated in consolidation. Basis of Presentation The Company’s financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to Form 10-Q and Article 10 of Regulation S-X of the Securities and Exchange Commission (“SEC”). Accordingly, the accompanying unaudited condensed consolidated financial statements do not include all of the information and notes required by GAAP for complete financial statements. The unaudited interim financial statements reflect all adjustments which, in the opinion of management, are necessary for a fair statement of the results for the periods presented. All such adjustments are of a normal and recurring nature. The consolidated balance sheet as of December 31, 2020 has been derived from the audited consolidated financial statements at that date but does not include all information and footnotes required by GAAP for complete financial statements. The operating results presented in these unaudited condensed consolidated financial statements are not necessarily indicative of the results that may be expected for any future periods. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in the Company’s final prospectus for the Company's Initial Public Offering (“IPO”), filed pursuant to Rule 424(b) under the Securities Exchange Act of 1933, as amended, with the SEC on July 29, 2021 (the “Prospectus”). Initial Public Offering (IPO) and Reverse Stock Split On July 22, 2021, the Company’s Board of Directors approved an amendment to the Company’s Articles of Incorporation to effect a reverse split of shares of the Company’s common stock, excluding Series G and Series W common stock, and convertible preferred stock on a 1-for-10.33 basis (the “Reverse Stock Split”). The par values of the common stock and convertible preferred stock were not adjusted as a result of the Reverse Stock Split. The Reverse Stock Split was effected on July 23, 2021. Accordingly, all common stock, excluding Series G and Series W common stock, options to purchase common stock, convertible preferred stock, share data, per share data and related information contained in the accompanying condensed consolidated financial statements and notes have been retrospectively adjusted to reflect the effect of the Reverse Stock Split for all periods presented. Outstanding stock options were proportionately reduced and the respective exercise prices, if applicable, were proportionately increased. The Reverse Stock Split resulted in an adjustment to the convertible preferred stock conversion prices to reflect a proportional decrease in the number of shares of common stock to be issued upon conversion. On July 29, 2021 , the Company completed its IPO through an underwritten sale of 7,350,000 shares of its common stock at a price of $ 16.00 per share. The aggregate net proceeds from the offering, inclusive of an additional 898,549 common shares sold upon the partial exercise of the underwriters’ purchase option, after deducting underwriting discounts and commissions of $ 9.2 million and other offering costs of $ 3.2 million, were approximately $ 120.0 million. On July 29, 2021, the Company restated its articles of incorporation and bylaws which provide for, among other things, the Company’s authorized capital stock to consist of 900,000,000 shares of common stock, par value $0.001 per share, and 100,000,000 shares of convertible preferred stock, par value $ 0.001 per share. The restated articles define the voting rights, dividends, liquidation, rights and preferences of each class of stock. Immediately prior to the completion of the offering, 14,376,272 outstanding shares of the Company's convertible preferred stock were converted into an aggregate of 14,725,309 shares of common stock and 225,945 warrants to purchase Series H convertible preferred stock were exercised and converted into 100,261 shares of common stock. Liquidity and Financial Position As of September 30, 2021 and December 31, 2020 the Company had cash, cash equivalents and short-term investments of $ 168.3 million and $ 69.0 million, respectively. The Company began generating revenue from its principal operations in 2019. The Company has a limited operating history, and the revenue and income potential of the Company’s business and market are unproven. The Company has experienced recurring net losses and negative cash flows from operating activities since its inception. For the three months ended September 30, 2021 and 2020 the Company incurred losses from operations of $ 13.1 million and $ 8.9 million, respectively. For the nine months ended September 30, 2021 and 2020, the Company incurred losses from operations of $ 38.1 million and $ 27.1 million, respectively. Due to the Company’s continuing research and development activities and expansion of its sales and marketing efforts, the Company expects to continue to incur net operating losses into the foreseeable future. Successful transition to attaining profitable operations is dependent upon gaining market acceptance of the Company’s products and achieving a level of revenues adequate to support the Company’s cost structure. The accompanying financial statements have been prepared assuming the Company will continue as a going concern. The Company believes that existing capital resources, including the net proceeds from the IPO in July 2021, will be sufficient to meet projected operating requirements for at least 12 months from the date of issuance of the accompanying condensed consolidated financial statements, though the Company expects to continue to incur operating losses and negative cash flows. COVID-19 The Company has been actively monitoring the novel coronavirus, or COVID-19, situation and its impact. In response to the pandemic, numerous state and local jurisdictions imposed “shelter-in-place” orders, quarantines and other restrictions. Starting in March 2020 in the United States, governmental authorities recommended, and in certain cases required, that elective, specialty and other procedures and appointments be suspended or canceled. Similarly, in March 2020, the governor of California, where the Company’s headquarters are located, issued “stay at home” orders limiting non-essential activities, travel and business operations. Such orders or restrictions resulted in reduced operations at the Company’s headquarters, slowdowns and delays, travel restrictions and cancellation of events. These orders and restrictions significantly decreased the number of procedures performed using the Company’s products during March and April 2020. In response to the impact of COVID-19, the Company implemented a variety of measures to help manage through the impact and position it to resume operations quickly and efficiently once these restrictions were lifted. These measures included: remote work as needed, suspension of non-essential travel, restrictions on in-person work-related meetings, the wearing of personal protective equipment, social distancing, increased facility cleaning and air purification in all of the Company’s buildings and daily health monitoring of all Company employees to prevent or contain COVID-19 exposure. In addition, the Company took steps to preserve liquidity, reduce expenses and monitor operations to mitigate the impact on its current and future financial condition. The impact of COVID-19 continues to change and cannot be predicted. As a result, the Company expects the pandemic could continue to negatively impact its business, financial condition and results of operations.

Summary of Accounting Policies

Summary of Accounting Policies	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Summary of Accounting Policies	Note 2 - Summary of Accounting Policies Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make informed estimates, judgments and assumptions that affect the reported amounts in the condensed consolidated financial statements and disclosures in the accompanying notes as of the date of the accompanying condensed consolidated financial statements. On an on-going basis, management evaluates the most critical estimates and assumptions for continued reasonableness. In particular, management makes estimates with respect to revenue recognition, warrants and other equity awards; estimated probability and timing of redemption of equity instruments, the realization of income tax assets and estimates of tax liabilities, and excess, obsolete and slow-moving inventory. Actual results may differ materially from the estimates used in the preparation of the accompanying condensed consolidated financial statements under different assumptions or conditions. Significant Accounting Policies There have been no significant changes to the accounting policies during the nine months ended September 30, 2021 , as compared to the significant accounting policies described in Note 2 of the “Notes to Consolidated Financial Statements” in the Company’s audited consolidated financial statements included in the Prospectus. Cash Equivalents Cash equivalents consist of investments in money market accounts. The Company considers all highly liquid investments with original maturities of three months or less at the date of purchase that can be liquidated without prior notice or penalty to be cash equivalents. Short-term Investments Short-term investments are classified based on the maturity date of the related securities. Based on the nature of the assets, the Company’s short-term investments, which are government securities, are classified as available-for-sale and are recorded at their estimated fair value as determined by prices for identical or similar securities at the balance sheet date. The Company’s short-term investments consist of Level 2 financial instruments in the fair value hierarchy. Unrealized gains and losses are recorded as a component of other comprehensive loss within stockholders’ deficit on the condensed consolidated balance sheets. Realized gains and losses are included as other income (expense) in the accompanying condensed consolidated statements of operations and comprehensive income (loss). The cost basis for realized gains and losses on available-for-sale securities is determined on a specific identification basis. Management determines the appropriate classification of its investments at the time of purchase and reevaluates such determination at each balance sheet date. The Company periodically reviews its investments for unrealized losses other than credit losses and whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. In determining whether the carrying value is recoverable, management considers the following factors:  whether the investment has been in a continuous realized loss position for over 12 months;  the duration to maturity of investments;  intention and ability to hold the investment to maturity and if it is not more likely than not that we will be required to sell the investment before recovery of the amortized cost basis;  the credit rating, financial condition and near-term prospects of the issuer; and  the type of investments made. The Company recorded $ 4,000 of unrealized losses and $ 2,000 of unrealized losses related to short-term investments as of September 30, 2021 and December 31, 2020 , respectively. To date, the Company has not identified any unrealized losses other than credit losses for its short-term investments as determined by prices for identical or similar securities at the balance sheet date. The Company’s short-term investments consist of Level 2 financial instruments in the fair value hierarchy. Concentration of Credit Risk and Other Risks and Uncertainties Financial instruments which potentially subject the Company to concentration of credit risk consist primarily of cash, cash equivalents, short-term investments and accounts receivable. The Company’s policy is to invest cash in institutional money market funds and marketable securities of the U.S. government to limit the amount of credit exposure. The Company currently maintains a portfolio of cash equivalents and short-term investments in short-term money market funds and U.S. treasury bills. Additionally, the Company has established guidelines regarding diversification of its investments and their maturities, which are designed to maintain principal and maximize liquidity. The Company has not experienced material losses on cash equivalents and short-term investments. Accounts Receivable As of September 30, 2021 , the Company did not have any customer who individually accounted for more than 10 % of accounts receivable, and as of December 31, 2020 , the Company had one customer who individually accounted for approximately 35 % of accounts receivable. After evaluation of the collectability of accounts receivable, the Company did no t record an allowance for doubtful accounts as of September 30, 2021 or December 31, 2020 . Inventories Inventories consist of raw materials, work-in-process and finished goods. Raw materials are comprised of chemicals and parts used in the production of the Company lenses, cartridges, and LDDs. Finished goods are comprised of lenses, cartridges, accessories and LDDs. Inventories are valued at the lower of cost or net realizable value. Cost is computed using standard cost, which approximates actual cost on a first-in, first-out basis. The carrying value of inventories is reviewed for potential impairment whenever indicators suggest that the cost of inventories exceeds the carrying value and management adjusts the inventories to its net realizable value. The cost of finished goods and work-in-process is comprised of raw materials, direct labor, other direct costs and related production overhead to the extent that these costs do not exceed the net realizable value of the goods produced. The Company periodically reviews inventories for potential impairment, estimated losses from obsolescence, material expirations or unmarketable inventories and writes down the cost of inventories to net realizable value at the time such determinations are made. Net realizable value is determined using the estimated selling price, in the ordinary course of business, less estimated costs to complete and dispose. Fair Value of Financial Instruments The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. The Company’s financial instruments consist principally of cash, cash equivalents, short-term investments, accounts receivable, accounts payable, operating lease liabilities, warrant liabilities and a term loan. Fair value is measured as the price that would be received from the sale of an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques that are consistent with the market, income or cost approach are used to measure fair value. The fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three levels: Level 1—Observable inputs such as unadjusted quoted prices in active markets that are accessible at the measurement date for identical unrestricted assets or liabilities. Level 2—Inputs (other than quoted prices included in Level 1) that are either directly or indirectly observable for the asset or liability, for substantially the full term of the asset or liability, through correlation with market data. These include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active and inputs to valuation models or other pricing methodologies that do not require significant judgment because the inputs used in the model, such as interest rates and volatility, can be corroborated by readily observable market data. Level 3—One or more significant inputs that are unobservable and supported by little or no market activity and reflect the use of significant management judgment and assumptions. Level 3 assets and liabilities include those whose fair value measurements are determined using pricing models, discounted cash flow methodologies or similar valuation techniques and significant management judgment or estimation. These include the Black-Scholes option-pricing model which uses inputs such as expected volatility, risk-free interest rate and expected term to determine fair market valuation. Assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurements. The Company reviews the fair value hierarchy classification at each reporting date. Changes in the ability to observe valuation inputs may result in a reclassification of levels for certain assets or liabilities within the fair value hierarchy. The Company did not have any transfers of assets and liabilities between the levels of the fair value measurement hierarchy during the years presented. Cash, cash equivalents, accounts receivable and accounts payable are carried at their estimated fair value because of the short-term nature of these assets and liabilities. The Company’s short-term investments in government securities are carried at fair value, determined based on publicly available quoted market prices for identical securities at the measurement date. The Company believes the fair values of its operating lease liabilities and term loan at September 30, 2021 and December 31, 2020 approximated their carrying values, based on the borrowing rates that were available for loans with similar terms as of that date. Warrants to Purchase Stock The Company recognizes the freestanding warrants to purchase shares of convertible preferred stock as liabilities at fair value as these warrant instruments are embedded in contracts that may be cash settled. The convertible preferred stock warrants were issued for no cash consideration as detachable freestanding instruments but can be converted to convertible preferred stock at the holder’s option based on the exercise price of the warrant. However, the deemed liquidation provisions of the convertible preferred stock are considered contingent redemption provisions that are not solely within the control of the Company. Therefore, the convertible preferred stock is classified in temporary equity on the accompanying condensed consolidated balance sheets, and the warrants to purchase the convertible preferred stock are classified as liabilities. The Company recognized a freestanding warrant to purchase a share of Series W common stock as a liability at fair value because this instrument was not indexed to the Company’s own stock as the settlement calculation incorporated variables other than those used to determine the fair value of a fixed-for-fixed forward or option on equity shares. The common stock warrant was issued for cash consideration as a freestanding instrument and could be converted to one share of common stock, Series W, at the holder’s option based on the exercise price of the warrant and prior to the expiration date of March 31, 2021. The warrants were recorded on the accompanying condensed consolidated balance sheets at their fair value on the date of issuance and were subject to re-measurement to fair value at each balance sheet date. Changes in fair value were recognized as a component of other income (expense), net in the accompanying condensed consolidated statements of operations and comprehensive income (loss). Upon issuance of the Series W common stock warrant, the Company engaged valuation specialists to assist with determining its fair value using a Monte Carlo simulation approach. In addition, the Company engaged the valuation specialists to derive an estimated fair value of the preferred stock warrants using a probability weighted expected return model/option pricing model (“PWERM/OPM”) hybrid valuation model. Pursuant to the terms of the preferred stock warrants, upon the conversion of the class of preferred stock underlying the warrant, the warrants automatically become exercisable for shares of the Company’s common stock based upon the conversion ratio of the underlying class of preferred stock. The exercise of the common stock warrant or consummation of a qualified initial public offering would result in the automatic conversion of all classes of the Company’s preferred stock into common stock. Upon such conversion of the underlying classes of preferred stock, the warrants would be classified as a component of equity and would no longer be subject to remeasurement. Accordingly, the Company continued to adjust the warrant liabilities for changes in fair value through the date of the conversion of the underlying convertible preferred stock into common stock which occurred upon the completion of the Company's IPO in July 2021. Deferred Offering Costs The Company capitalized deferred offering costs consisting of all direct and incremental legal, professional, accounting and other third-party fees incurred in connection with the Company’s IPO. As of September 30, 2021, total deferred offering costs of $ 3.2 million were reclassified to additional paid-in capital in the accompanying condensed consolidated balance sheets. Net (Loss) Income per Share The Company computes basic net (loss) income per share for common stock using the two-class method required for companies with participating securities based upon the weighted-average number of common shares outstanding during the period. Diluted net (loss) income per share assumes the conversion, exercise or issuance of all potential common stock equivalents, unless the effect of inclusion would be anti-dilutive. For purposes of this calculation, common stock equivalents include the Company’s stock options, warrants and the shares issuable upon the conversion of the preferred stock. For stock options and preferred stock, the calculation of diluted (loss) income per share requires an adjustment for the additional share of undistributed earnings and accretion to redemption value for the period that the common stockholders are entitled to if exercise is assumed. For warrants that are recorded as a liability in the accompanying condensed consolidated balance sheets, the calculation of diluted (loss) income per share requires that, to the extent the average market price of the underlying shares for the reporting period exceeds the exercise price of the warrants and the presumed exercise of the warrants is dilutive to the loss per share for the period, an adjustment is made to net (loss) income used in the calculation to remove the change in fair value of the warrants from the numerator for the period. Likewise, an adjustment to the denominator is required to reflect the related dilutive shares, if any, under the treasury stock method. The following tables show the computation of basic and diluted net income (loss) per share for the three and nine months ended September 30, 2021 and 2020, (common stock in thousands, except share and per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Common Stock Numerator: Net (loss) income available to stockholders, $ ( 12,673 ) $ 5,900 $ ( 32,954 ) $ ( 14,892 ) Effect of dilutive securities: Redeemable stock options — 411 — — Net (loss) income available to stockholders, $ ( 12,673 ) $ 6,311 $ ( 32,954 ) $ ( 14,892 ) Denominator: Weighted-average shares outstanding, 18,732,459 3,798,504 8,998,895 3,672,121 Effect of dilutive securities: Redeemable stock options — 1,757,399 — — Preferred stock warrants — 15,890 — — Weighted-average shares, diluted 18,732,459 5,571,793 8,998,895 3,672,121 Basic net (loss) income per share $ ( 0.68 ) $ 1.55 $ ( 3.66 ) $ ( 4.06 ) Diluted net (loss) income per share $ ( 0.68 ) $ 1.13 $ ( 3.66 ) $ ( 4.06 ) Series G Common Stock Numerator: Net income (loss) available to stockholder, basic $ — $ 0.01 $ — $ ( 0.76 ) Effect of dilutive securities: Redeemable preferred stock and warrants — — — — Net income (loss) available to stockholder, diluted $ — $ 0.01 $ — $ ( 0.76 ) Denominator: Weighted-average shares outstanding, basic and diluted 1 1 Basic net income (loss) per share — $ 0.01 — $ ( 0.76 ) Diluted net income (loss) per share — $ 0.01 — $ ( 0.76 ) The following outstanding potentially dilutive securities were excluded from the calculation of diluted net income (loss) per share attributable to common stockholders because their impact under the “treasury stock method” and “if-converted method” was anti-dilutive for the periods presented: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Redeemable convertible preferred stock — 14,849,188 — 14,849,188 Preferred stock warrants — — — 227,762 Stock options 5,046,965 — 4,565,932 — Redeemable stock options — 1,803,687 — 3,905,753 Restricted stock units 232,805 — 78,455 — Revenue Recognition The Company’s revenues from sales are generated from the sale of light adjustable intraocular lenses, the RxLAL, used in cataract surgery along with a specifically designed machine for delivering light to the eye, the Light Delivery Device (LDD), to adjust the lens post-surgery, as needed. Revenue from sales is recognized from products sold in the U.S. and Europe. Customers are primarily comprised of ambulatory surgery centers, hospitals, and physician private practices. The Company recognizes revenue from sales when promised goods or services are transferred to customers at a transaction price that reflects the consideration to which the Company expects to be entitled in exchange for those goods and services. Specifically, the Company applies the following five steps to recognize revenue from sales: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue from sales when, or as, the Company satisfies a performance obligation. The Company applies the five-step model to contracts when it is probable that it will collect the consideration to which it is entitled in exchange for the goods or services it transfers to the customer. At contract inception, the Company assesses the goods promised within each customer contract to determine the individual deliverables in its product offerings as separate performance obligations and assesses whether each promised good or service is distinct. The transaction price is determined based on the consideration expected to be received, based either on the stated value in contractual arrangements or the estimated cash to be collected in non-contracted arrangements. The Company recognizes revenue from sales as the amount of the transaction price that is allocated to the respective performance obligation when, or as, the performance obligation is satisfied, considering whether or not this occurs at a point in time or over time. The Company elected to account for shipping costs as fulfillment costs rather than a promised service and excludes from revenue any taxes collected from customers that are remitted to government authorities. The Company’s LDD contracts contain multiple performance obligations bundled for one transaction price, with all obligations generally satisfied within one year. For these bundled arrangements, the Company accounts for individual products and services as separate performance obligations if they are distinct, that is, if a product or service is separately identifiable from other items in the bundled package, and if a customer can benefit from it on its own or with other resources that are readily available to the customer. The Company’s LDD contracts include a combination of the following performance obligations: (1) LDD capital asset and related components, (2) training and (3) device service (initial year). Each of these three performance obligations are considered distinct. The LDD capital asset is distinct because the customer can benefit from it together with other resources that are readily available to the customer. Training on the use of the machine is offered as a distinct activity after installation of the LDD to enhance the customer’s ability to utilize the machine by having an industry professional provide best practices and customize training to the specific needs of the customer. Each LDD comes with a twelve-month manufacturer’s warranty (service-type) that includes preventative maintenance, unscheduled service (labor and parts) and software updates. After the first year, service contracts can be purchased separately on a standalone basis. The Company recognizes revenue as performance obligations are satisfied by transferring control of the product or service to a customer. Specifically, revenue for the LDD capital asset is recognized at a point in time at installation. Revenue for training is also recorded at a point in time, generally 30 days after installation. Revenue for the device service is recognized ratably over time after installation, generally 12 months. The Company has determined that the transaction price is the invoice price, net of adjustments, if any. The allocation to the separate performance obligations is based upon the relative standalone selling price. Standalone selling prices are based on observable prices at which the Company separately sells the products or services The Company estimates the standalone selling price using the market assessment approach considering market conditions and entity-specific factors including, but not limited to, features and functionality of the products and services, geographies, type of customer and market conditions. The Company regularly reviews and updates standalone selling prices as necessary. RxLALs are held at customer sites on consignment. The single performance obligation is satisfied, and revenue from sales is recognized for RxLALs upon customer notification that the RxLALs have been implanted in a patient. For the three and nine months ended September 30, 2021 and 2020, credits related to returns and rebates on list prices were not significant. The Company adopted the practical expedient permitting the direct expensing of costs incurred to obtain contracts where the amortization of such costs would occur over one year or less, and it applied to substantially all the Company’s contracts. For the three and nine months ended September 30, 2021 and 2020, revenue from sales from contracts with customers consisted of the following (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 LDD (including training) $ 3,661 $ 2,655 $ 8,463 $ 6,864 RxLAL 1,944 1,444 5,264 2,734 Service warranty, service contracts, and accessories 181 71 440 166 $ 5,786 $ 4,170 $ 14,167 $ 9,764 As of September 30, 2021 and December 31, 2020, the Company recognized deferred revenue from sales on its condensed consolidated balance sheets of $ 449 ,000 and $ 248 ,000 , respectively, related to the service agreement performance obligation. Sales for service agreements is recognized ratably over the term of each contract. The following table represents the deferred revenue from sales activity for the nine months ended September 30, 2021 and 2020, respectively (in thousands): 2021 2020 Balance at beginning of period $ 345 $ 39 Consideration deferred during the period 506 303 Revenue recognized during the period ( 402 ) ( 94 ) Balance at end of period $ 449 $ 248 For the three months ended September 30, 2021, the Company had one customer who individually accounted for approximately 11 % of revenue. For nine months ended September 30, 2021 , the Company had no customer who individually accounted for more than 10 % of revenue. For the three and nine months ended September 30, 2020 the Company had one customer who individually accounted for approximately 33 % and 37 % of revenue, respectively. Recent Accounting Pronouncements In August 2018, the FASB issued ASU 2018-15, “Intangibles – Goodwill and Other – Internal Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract, ” ( “ ASU 2018-15 ”) which changes the accounting for implementation costs incurred in a cloud computing arrangement that is a service contract. The update aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The implementation costs should be presented as a prepaid expense in the balance sheet and expensed over the term of the hosting arrangement. This standard is effective beginning January 1, 2021, and early adoption is permitted. The Company adopted ASU 2018-15 on January 1, 2021, and the adoption of ASU 2018-15 did not have a material impact on its consolidated financial statements. In June 2020, the FASB issued ASU No. 2020-06, “Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity, ” ( “ ASU No. 2020-06 ”) which is intended to simplify the accounting for convertible instruments. This new guidance eliminates certain models that require separate accounting for embedded conversion features and eliminates certain of the conditions for equity classification for contracts in an entity’s own equity. Accordingly, a convertible debt instrument will be accounted for as a single liability measured at its amortized cost, as long as no other features require bifurcation and recognition as derivatives. The new guidance can be adopted through either a modified retrospective method of transition or a fully retrospective method of transition. ASU 2020-06 is effective for public business entities for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The Company is in the process of determining the impact of the adoption of the standard on its consolidated financial statements. Emerging Growth Company Status The Company is an emerging growth company, as defined in the Jumpstart Our Business Startups Act of 2012, or the JOBS Act. Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until such time as those standards apply to private companies. The Company has irrevocably elected to not take this exemption and, as a result, will adopt new or revised accounting standards on the relevant effective dates on which adoption of such standards is required for other public companies that are not emerging growth companies.

Short-Term Investment

Short-Term Investment	9 Months Ended
	Sep. 30, 2021
Short Term Investments [Abstract]
Short-Term Investment	Note 3 – Short-Term Investments Short-term investments, principally U.S. Treasury bills, are available-for-sale and consisted of the following (in thousands): As of September 30, 2021 Amortized Cost Unrealized Loss, Net Estimated Fair Value Government securities $ 99,989 $ ( 4 ) $ 99,985 As of December 31, 2020 Amortized Cost Unrealized Loss, Net Estimated Fair Value Government securities $ 54,983 $ ( 2 ) $ 54,981 All available-for-sale securities held as of September 30, 2021 and December 31, 2020 had a maturity of less than one year .

Inventories

Inventories	9 Months Ended
	Sep. 30, 2021
Inventory Disclosure [Abstract]
Inventories	Note 4 – Inventories Inventories consisted of the following (in thousands): September 30, December 31, 2021 2020 Finished goods $ 6,443 $ 5,092 Raw materials 3,598 1,827 Work-in-process 1,777 1,685 11,818 8,604 Less: reserve for excess and obsolete inventory ( 2,376 ) ( 316 ) $ 9,442 $ 8,288 At September 30, 2021 and December 31, 2020, finished goods included $ 1.7 million and $ 2.7 million of inventory held on consignment at customer sites, respectively.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 5 – Fair Value Measurements The table and disclosures below (in thousands) present the Company’s assets and liabilities measured at fair value on a recurring basis and indicate the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value. As of September 30, 2021 Level I Level II Level III Total Assets: Money market securities $ 65,368 $ — $ — $ 65,368 Government securities — 99,985 — 99,985 Total assets at fair value $ 65,368 $ 99,985 $ — $ 165,353 As of December 31, 2020 Level I Level II Level III Total Assets: Money market securities $ 11,822 $ — $ — $ 11,822 Government securities — 54,981 — 54,981 Total assets at fair value $ 11,822 $ 54,981 $ — $ 66,803 Liabilities: Common stock warrant liability $ — $ — $ ( 5,018 ) $ ( 5,018 ) Redeemable convertible preferred stock warrant — — ( 3,828 ) ( 3,828 ) Total liabilities at fair value $ — $ — $ ( 8,846 ) $ ( 8,846 ) The Series W warrant fair value was determined by management, with input and assistance from a third-party valuation specialist, upon issuance and was revalued as of each reporting date until expiration. The valuation specialist utilized a Monte Carlo Simulation ("MCS") under the income method utilizing assumptions and financial data prepared by the Company. This valuation approach uses a discounted cash flow (“DCF”) method to calculate the starting equity value of the Company based upon future cash flow generation. The starting equity value of the Company was determined utilizing significant unobservable inputs, including (1) forecasted financial projections for the next five years developed by management, (2) a terminal value assigned using an exit multiple method, and (3) a discount rate based on the weighted average cost of capital. Then a simulated equity value of the Company as of the expected exercise date was determined using the MCS method. The MCS inputs included: (1) the assumed amount of time until the exercise of the warrant, (2) the risk-free interest rate over the period until the assumed warrant exercise, (3) the assumed volatility in the value of the equity of the company, and (4) the starting equity value of the Company as determined from the discounted cash flow method. In order to determine the overall value of the warrant, the valuation specialists also simulated the payments for sales-based, operating and regulatory milestones based upon similar inputs to determine the expected overall purchase price of the Company. The net difference between the expected purchase price and the average simulated equity value determines the “option payoff”. Finally, management assigned a probability that the warrant will be exercised, which was applied to the present value of the “option payoff” to arrive at the recorded value reflected in the accompanying condensed consolidated financial statements. The Series W warrant expired unexercised on March 31, 2021 and the remaining value was recorded in the Statement of Operations and Comprehensive Income (Loss) for the nine months ended September 30, 2021. The fair value of the preferred stock warrants was determined by management, with input and assistance from a third-party valuation specialist using a probability weighted expected return model/option pricing model (“PWERM/OPM”) hybrid valuation model. This method essentially utilizes a combination of market and income method approaches for each part of the calculation of enterprise value using assumptions and financial data prepared by the Company and combines them in a probabilistic manner. The valuation considered several future scenarios for the Company, each of which assumed a shareholder exit either through initial public offering (“IPO”), sale (“M&A”) or dissolution. Based upon the current IPO market, M&A values for private companies and the historical likelihood of dissolution or no exit, the Company concluded that the probabilities and time frames were reasonable. Implicit in the timing used in the application of the PWERM/OPM Hybrid Method is also the possibility of no exit. The option pricing model's significant unobservable inputs included: (1) the assumed time until a liquidity event, (2) the risk-free interest rate over the period until the assumed liquidity event, (3) the assumed volatility in the value of the equity of the company (which corresponds to the model's underlying asset volatility), (4) the enterprise value and preferred investment amount and (5) the key price points in the Company's capital structure in terms of exit levels on the assumed liquidation date. A significant increase (decrease) in any of these inputs in isolation, particularly the estimated price of the Company’s preferred stock, would have resulted in a significantly higher (lower) fair value measurement. The following table sets forth changes in the estimated fair values for the Company’s warrant liabilities measured using significant unobservable inputs (in thousands): Nine Months Ended Year Ended September 30, 2021 December 31, 2020 Beginning of period $ 8,846 $ 71,881 Exercise of preferred stock warrants ( 1,111 ) ( 24 ) Expiration of common stock warrant ( 5,018 ) — Change in fair value of common stock warrant — ( 64,628 ) Change in fair value of preferred stock warrants ( 2,717 ) 1,617 End of period $ — $ 8,846

Term Loan

Term Loan	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Term Loan	Note 6 – Term Loan In October 2020, the Company entered into a loan facility (“Term Loan”) with an initial draw of $ 25 million. Proceeds were used to help fund the Company’s ongoing operations. As part of the Term Loan, the lender committed to providing further loans of up to $ 35 million to the Company at its election (or for one specific draw, upon occurrence of a revenue milestone) during various draw periods in the future, provided the Company is not in default at the time of the additional loan draws. In March 2021, the Company drew an additional $ 5 million from the facility for the purpose of funding ongoing operations. In June 2021, the Company drew an additional $ 10 million from the facility for the purpose of funding ongoing operations. As of September 30, 2021 and December 31, 2020, the Company was in compliance with all covenants. For the three and nine months ended September 30, 2021 , cash interest paid for all borrowings under the Term Loan was 9.25 %. The effective interest rate during the three and nine months ended September 30, 2021 was 10.69 % and 10.97 %, respectively. As of September 30, 2021 future principal payments due under the Term Loan were as follows (in thousands): Year Ended December 31, 2021 (remainder) $ — 2022 — 2023 1,739 2024 20,870 2025 17,391 Total 40,000 Less: unamortized issuance costs and exit fee ( 364 ) Term loan, net $ 39,636

Common Stock Warrant Liability

Common Stock Warrant Liability	9 Months Ended
	Sep. 30, 2021
Warrants And Rights Note Disclosure [Abstract]
Common Stock Warrant Liability	Note 7 – Common Stock Warrant Liability Warrant Agreement and Share Purchase Agreement On October 12, 2017, the Company issued to a “Strategic Partner” a warrant to purchase Series W common stock (the “Warrant Agreement”) for a non-refundable payment of $ 60 million. This Series W common stock warrant (the “Series W Warrant”) had an initial expiration date of December 31, 2018 unless extended as provided for in the Warrant Agreement. On December 27, 2018, the Strategic Partner chose to extend the expiration date of the Series W Warrant, by making an additional non-refundable payment of $ 40 million, until the sooner of the achievement of performance milestones (as defined in the Warrant Agreement) or November 22, 2021. On March 18, 2020, the Company and the Strategic Partner signed an amendment to the Warrant Agreement that removed the milestone triggers for early exercise and changed the expiration date to March 31, 2021. Concurrent with the Warrant Agreement, the Strategic Partner and the Company entered into a Share Purchase Agreement (the “Purchase Agreement”). Under the Purchase Agreement, the Strategic Partner purchased one share of the Company’s non-voting $ 0.001 par value per share Series G common stock for $ 0.01 . Upon exercise of the Series W Warrant, the Strategic Partner would have received one share of voting, $ 0.001 par value, Series W common stock. Per the Warrant Agreement, the exercise price of the Series W Warrant was $ 630.0 million plus adjustments for the Company’s cash, working capital, indebtedness, and transaction expenses, subject to an escrow holdback of $ 92.0 million and a shareholder representative holdback of $ 0.5 M. The Warrant Agreement also provided for potential aggregate milestone payments of up to $ 827 million for various sales-based and operating milestones and $ 185 million for certain regulatory milestones, either at the time of the Series W Warrant’s exercise or at dates subsequent, as defined in the Warrant Agreement. Upon notice of exercise of the Series W Warrant by the Strategic Partner and receipt of the required funds, a Special Redemption, as defined in the Company’s Articles of Incorporation, would have triggered automatic redemption of all the Company’s outstanding capital instruments, except for the Series G common stock and Series W common stock, and the Strategic Partner would have acquired the Company. Special Redemption On October 25, 2017, the Company adopted the 12th Amended and Restated Articles of Incorporation (the “Amendment”). Under Article IV of the Amendment, if the Strategic Partner had exercised the Series W Warrant, an automatic redemption, conversion, termination and cancellation of all then outstanding shares of the Company’s capital stock, options and warrants would have occurred without any further action required. Immediately prior to the automatic redemption, all outstanding preferred shares would have converted to common shares, unvested stock options would have accelerated and became fully vested and all stock options would have terminated along with any preferred stock warrants outstanding. Shareholders, option holders and warrant holders would have had the right to receive the initial per share price less the strike price as defined in the Warrant Agreement. The Strategic Partner would have advanced (through an exchange agent) the funds to the Company, which would then have disbursed the funds to all shareholders, option holders and warrant holders. If the Series W Warrant was terminated or expired unexercised, Article IV of the Amendment would terminate and would be of no further force and effect. In December 2020, management determined that exercise of the Series W Warrant was no longer probable, at which point further accretion to redemption value of common stock, preferred stock and stock options ceased. On March 31, 2021, the Series W Warrant terminated as the Strategic Partner did not provide notice of exercise. A gain of $ 5.0 million was recorded on the expiration of the Series W Warrant in the accompanying condensed consolidated statements of operations and comprehensive income (loss) for the nine months ended September 30, 2021. Upon termination, amounts recorded in temporary equity for common stock and stock options were reclassified to common stock and additional paid-in capital within permanent equity as these instruments were no longer redeemable.

Convertible Preferred Stock and

Convertible Preferred Stock and Stockholders’ Deficit	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Convertible Preferred Stock and Stockholders’ Deficit	Note 8 – Convertible Preferred Stock and Stockholders’ Deficit Convertible Preferred Stock The Amendment authorized eight classes of preferred stock, Series A through F, the “Prior Preferred Stock” and Series G and H, the “Senior Preferred Stock”. As of December 31, 2020 the Company’s convertible preferred stock was classified as temporary equity in the accompanying condensed consolidated balance sheets, as all such preferred stock is redeemable either at the option of the holder or upon an event outside the control of the Company (i.e., a change in control). The redeemable convertible preferred stock was previously redeemable per the Special Redemption (see Note 7) or upon certain change in control events (including liquidation, sale or transfer of control of the Company); however, all change in control events are outside of the Company’s control. In the event of the Special Redemption, the holders would have received redemption proceeds as defined in the Warrant Agreement. In the event of liquidation, holders of the convertible preferred stock may have the right to receive its liquidation preference under the terms of the Company’s Amendment. As a result of management’s determination that the Special Redemption was probable, but not certain, the Company began accreting to the expected redemption value of the redeemable convertible preferred stock in October 2017. In December 2020, management determined that the Special Redemption was no longer probable, at which point accretion to redemption value ceased. As of March 31, 2021, the Series W Warrant expired unexercised, and all redemption provisions of the Special Redemption lapsed. Upon completion of the Company's IPO in July 2021, all Convertible Preferred Stock outstanding was converted to Common Stock. The following table summarizes information related to issuance of the Company’s preferred stock (in thousands, except number of shares and per share amounts): As of December 31, 2020 Par Value Date of Shares Shares Shares Liquidation Carrying Series A $ 0.001 Feb-2000 $ 40.81 355,921 355,903 $ 14,523 $ 13,535 Series B $ 0.001 May-2003 $ 9.07 1,741,452 1,741,399 15,795 39,715 Series C $ 0.001 Feb-2007 $ 12.92 1,168,344 1,168,311 15,086 28,136 Series D $ 0.001 Aug-2009 $ 18.08 663,808 663,728 12,000 18,503 Series E $ 0.001 Oct-2011 $ 20.66 353,339 353,327 7,300 10,350 Series F $ 0.001 May-2012 $ 25.83 507,744 499,159 12,891 18,305 Series G $ 0.001 Jun-2015 $ 12.40 5,832,685 5,788,878 71,759 135,682 Series H $ 0.001 Feb-2017 $ 12.40 5,949,499 3,805,567 47,174 89,074 16,572,792 14,376,272 $ 196,528 $ 353,300 (1) The shares authorized, issued and outstanding do not reflect any anti-dilution provisions of Series C, Series D, Series E and Series F as a result of the Series G financing. (2) The carrying value reflects the gross proceeds received from the sale of the preferred stock less issuance costs and the fair value at issuance of preferred stock warrants classified as a liability, plus accretion of redemption value. Common Stock Each share of common stock is entitled to one vote. Common stock reserved for future issuance consisted of the following: September 30, 2021 December 31, 2020 Conversion of preferred stock — 14,851,007 Preferred stock warrants — 225,945 Common stock warrant — 1 Stock options issued and outstanding under the 2006, 2015 and 2021 plans 5,454,112 4,201,935 Restricted stock units 657,729 — Total shares of common stock reserved 6,111,841 19,278,888

Stock-Based Compensation Expens

Stock-Based Compensation Expense	9 Months Ended
	Sep. 30, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation Expense	Note 9 – Stock-Based Compensation Expense The Company has three stock-based incentive compensation plans, the Calhoun Vision, Inc. 2015 Equity Incentive Plan, the Calhoun Vision, Inc. 2006 Stock Plan, and the 2021 Equity Incentive Plan (collectively the “Plans”). 2006 Stock Plan The Company’s 2006 Stock Plan (the “2006 Plan”) was originally adopted by the board of directors and approved by the Company’s stockholders in 2006. The Company’s 2006 Plan was terminated in 2015 in connection with the adoption of the Company’s 2015 Plan and as a result no new awards may be issued under the 2006 Plan. However, the 2006 Plan will continue to govern the terms and conditions of the outstanding awards previously granted under the 2006 Plan. 2015 Equity Incentive Plan The Company’s 2015 Equity Incentive Plan (the “2015 Plan”) was originally adopted by the Company’s board of directors and approved by the Company’s stockholders in 2015. The 2015 Plan was most recently amended in March 2021. In July 2021, upon completion of the Company's IPO, the 2015 Plan terminated immediately prior to effectiveness of the 2021 Equity Incentive Plan with respect to the grant of future awards. 2021 Equity Incentive Plan On July 28, 2021, the Company’s Board of Directors and stockholders adopted and approved the Company’s 2021 Equity Incentive Plan (the “2021 Plan”). The 2021 Plan provides for the grant of incentive stock options to employees and any subsidiary corporations’ employees, and for the grant of nonstatutory stock options, stock appreciation rights, restricted stock, restricted stock units, or (“RSUs”), and performance awards to employees, directors, and consultants and subsidiary corporations’ employees and consultants. The number of shares of the Company’s common stock available for issuance under the 2021 Plan is equal to 2,420,135 shares of common stock plus any shares subject to awards granted under the 2015 Plan and the 2006 Plan that, after the effectiveness of the 2021 Plan, expire or otherwise terminate without having been exercised in full, are tendered to or withheld by the Company for payment of an exercise price or for tax withholding obligations, or are forfeited to or repurchased by the Company due to failure to vest, with the maximum number of shares to be added to the 2021 Plan from the 2015 Plan and 2006 Plan is equal to 4,569,530 shares of common stock. The number of common shares reserved for issuance under the 2021 Plan will be increased automatically on the first day of each fiscal year beginning with the 2022 fiscal year and ending on the ten year anniversary of the date our board of directors approved the 2021 Plan, by a number equal to the least of: (i) 7,260,406 shares of our common stock; (ii) 4 % of the outstanding shares of our common stock on the last day of our immediately preceding fiscal year; or (iii) such lesser number of shares of our common stock as the administrator may determine. The 2021 Plan is administered by the Company’s Board of Directors. 2021 Employee Stock Purchase Plan On July 28, 2021, the Company’s Board of Directors and stockholders adopted and approved the Company’s 2021 Employee Stock Purchase Plan (“2021 ESPP”). The number of shares of the Company’s common stock available for issuance under the 2021 ESPP is equal to 484,027 shares of common stock. The 2021 ESPP provides eligible employees of the Company and its subsidiaries with the opportunity to purchase shares of the Company’s Common Stock at a purchase price equal to 85 % of the common stock’s fair market value on the first trading day or last trading day of each purchase period, whichever is lower. The 2021 ESPP generally provides for two six-month purchase periods every twelve months: May 1 through October 31 and November 1 through April 30. The initial purchase period began on November 1, 2021. The number of common shares reserved for issuance under the 2021 ESPP plan will be increased automatically on the first day of each fiscal year beginning with our 2022 fiscal year, by a number equal to the least of: (i) 1,452,081 shares; (ii) 1 % of the outstanding shares of our common stock on the last day of our immediately preceding fiscal year; or (iii) such other amount as the administrator may determine. The 2021 ESPP is administered by the Board of Directors. Stock-Based Compensation Expense The purpose of the 2021 Plan and 2021 ESPP plan is to provide a means by which eligible recipients of stock awards may be given an opportunity to benefit from increases in the value of the common stock in order to retain or procure the services of the employees, members of the Board and consultants and provide them with an incentive to promote the Company’s success and accomplish corporate goals. Stock option awards are generally granted with an exercise price of no less than 100% of estimated fair market value on the date of grant. Time based awards generally vest over four years as follows: one fourth of the total number of shares vest and become exercisable on the one-year anniversary; 1/48th of the total number of shares subject to the option vest and become exercisable on each monthly anniversary thereafter for the remaining three years. Prior to the Company's IPO in July 2021, the Company’s board of directors, with input from management, considered numerous objective and subjective factors to determine the fair value of common stock. The factors included, but were not limited to: (i) third-party valuations of the Company’s common stock; (ii) the Company’s stage of development; (iii) the status of research and development efforts; (iv) the rights, preferences and privileges of the Company’s convertible preferred stock relative to those of the Company’s common stock; (v) the Company’s operating results and financial condition, including the Company’s levels of available capital resources; (vi) equity market conditions affecting comparable public companies; (vii) general U.S. market conditions and (viii) the lack of marketability of the Company’s common stock. After completion of the Company’s IPO in July 2021, the fair value of common stock is based on the closing price of the Company’s common stock as reported on the Nasdaq Global Select Market. In determining the fair value of the stock options granted, the Company uses the Black-Scholes option-pricing model and assumptions discussed below. Each of these inputs is subjective and generally requires significant judgment. Expected term —The Company’s expected term represents the period that the Company’s stock-based awards are expected to be outstanding. The Company used the simplified method (based on the mid-point between the vesting date and the end of the contractual term) to determine the expected term. Expected volatility —Since the Company was privately held and did not have any trading history for its common stock, the expected volatility was estimated based on the average historical volatilities for comparable publicly traded medical device companies over a period equal to the expected term of the stock option grants. The comparable companies were chosen based on their similar size, stage in the life cycle and area of specialty. The Company will continue to apply this process until a sufficient amount of historical information regarding the volatility of its own stock price becomes available. Risk-free interest rate —The risk-free interest rate is based on the U.S. Treasury zero coupon issues in effect at the time of grant for periods corresponding with the expected term of option. Dividend yield —The Company has never paid dividends on its common stock and has no plans to pay dividends on its common stock. Therefore, the Company used an expected dividend yield of zero. A summary of stock option activities for the nine months ended September 30, 2021 is as follows: Number of Options Weighted Weighted Weighted Avg Options outstanding as of 4,201,935 $ 9.57 6.46 Issued Granted 1,652,751 $ 15.51 $ 8.94 Exercised ( 321,812 ) $ 4.28 $ 2.12 Forfeited ( 61,053 ) $ 19.47 $ 10.51 Expired ( 17,709 ) Options outstanding as of 5,454,112 $ 11.59 6.97 Exercisable as of September 30, 2021 3,174,863 $ 8.76 5.35 A summary of non-vested restricted stock unit activities for the nine months ended September 30, 2021 is as follows: Weighted Average Number of Grant Date Shares Fair Value Unvested at December 31, 2020 — Granted 657,729 $ 15.46 Vested — Forfeited — Unvested at September 30, 2021 657,729 $ 15.46 As of September 30, 2021 and December 31, 2020 the intrinsic value of options vested was $ 17.9 million and $ 26.2 million, respectively, and of all options outstanding was $ 18.0 million and $ 26.4 million, respectively. During the nine months ended September 30, 2021 and 2020 , the total cash received from the exercise of stock options was $ 1.4 million and $ 1.0 million, respectively. The total fair value less strike price of these options was $ 3.6 million and $ 2.7 million, respectively. Stock-based compensation expense was classified in the accompanying condensed consolidated statements of operations and comprehensive income (loss) as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Research and development $ 623 $ 626 $ 1,760 $ 1,541 Selling, general and administrative 1,168 430 2,317 953 Cost of goods sold 222 185 581 454 $ 2,013 $ 1,242 $ 4,658 $ 2,948 As of September 30, 2021 and December 31, 2020 , there were 2,270,175 and 1,177,165 unvested options, respectively. Total unrecognized expense related to unvested stock options was approximately $ 19.7 million and $ 9.8 million as of September 30, 2021 and December 31, 2020 , respectively. Amounts are expected to be recognized over a weighted average period of approximately 3.1 and 2.9 years, respectively. As of September 30, 2021 , there was $ 9.8 million of total unrecognized compensation costs adjusted for any estimated forfeitures, related to non-vested restricted stock units granted under the 2021 Plan. The unrecognized compensation cost is expected to be recognized over a weighted average period of 3.7 years. The following table presents the range and weighted-average assumptions, used in the Black-Scholes option pricing model to determine the fair value of stock options: Nine Months Ended September 30, 2021 Range Weighted Average Expected volatility 62.3 % to 63.7 % 63.3 % Risk-free interest rate 0.6 % to 1.6 % 1.0 % Expected life (in years) 5.52 to 10.00 years 6 years Expected dividend yield 0.0 % 0.0 % Grant date fair value $ 12.54 to $ 19.94 $ 15.51 On July 30, 2021, the Board of Directors approved the issuance of 640,567 equity awards to the Company's named executive officers and certain non-employee directors, consisting of 17,577 restricted stock units and 622,990 stock option awards. The awards will vest over one to four years of service. On August 3, 2021, the Board of Directors approved the issuance of equity awards to certain non-employee directors, consisting of 40,134 restricted stock units. The awards will vest over one to three years of service.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Note 10 – Income Taxes The Company maintains a full valuation allowance against its net deferred tax assets as of September 30, 2021 and December 31, 2020 based on the current assessment that it is not more likely than not these future benefits will be realized before expiration. No material income tax expense or benefit has been recorded given the valuation allowance position and projected taxable losses in the jurisdictions where the Company files income tax returns. The Company has not experienced any significant increases or decreases to its unrecognized tax benefits since December 31, 2020 and does not expect any within the next 12 months. The Company is subject to U.S. federal and various states income taxes. The federal returns for tax years 2017 through 2020 remain open to examination and the state returns remain subject to examination for tax years 2016 through 2020. Carryforward attributes that were generated in years where the statute of limitations is closed may still be adjusted upon examination by the Internal Revenue Service or other respective tax authorities. All other state jurisdictions remain open to examination.

Leases

Leases	9 Months Ended
	Sep. 30, 2021
Leases [Abstract]
Leases	Note 11 – Leases The Company has operating and finance leases for facilities and certain equipment. Leases with an initial term of 12 months or less are not recorded on the consolidated balance sheets. Lease expense for operating leases is recognized on a straight-line basis over the lease term. The Company does not combine lease and non-lease components in the recognition of lease expense. As of September 30, 2021 and December 31, 2020 the Company held three leases for office, manufacturing and warehouse facilities in Aliso Viejo, California. The three leases are for 19,680 , 42,106 and 48,036 square feet and expire on June 30, 2023 , September 30, 2024 and January 31, 2026 , respectively. For one of the facilities operating leases, the lessor provided $ 900,000 in tenant allowances. The following table presents the lease balances within the condensed consolidated balance sheets (in thousands): September 30, December 31, Leases Classification 2021 2020 Assets Operating Operating leases right-of-use assets 4,561 $ 5,319 Finance Property and equipment, net 38 58 Total lease assets 4,599 5,377 Liabilities Current Operating Lease liabilities 1,449 1,247 Finance Lease liabilities 20 27 Noncurrent Operating Long-term lease liabilities 4,011 5,042 Finance Long-term lease liabilities 22 37 Total lease liabilities $ 5,502 $ 6,353 For the three and nine months ended September 30, 2021 and 2020, the components of operating and finance lease expenses were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, Lease Cost Classification 2021 2020 2021 2020 Operating lease cost Cost of goods sold $ 3 $ 3 $ 10 $ 10 Research and development 64 47 222 110 Selling, general and administrative expenses 402 418 1,205 1,138 Finance lease cost Amortization of right-of-use asset included in Research and development expenses — 32 — 115 Amortization of right-of-use asset included in Selling, general and administrative expenses 5 10 20 36 Finance lease cost Interest expense 1 3 4 12 Maturities of the Company’s operating and finance lease liabilities as of September 30, 2021 were as follows (in thousands): Operating Finance Year Ended December 31, Leases Leases 2021 (remainder) $ 484 $ 6 2022 1,955 23 2023 1,683 18 2024 1,456 — 2025 951 — 2026 79 — Total lease payments 6,608 47 Less: imputed interest 1,148 5 Total lease liabilities $ 5,460 $ 42 The weighted average remaining lease term and weighted average discount rate used to determine lease liabilities related to the Company’s operating and finance leases as of September 30, 2021 and December 31, 2020 were: September 30, December 31, Lease Term and Discount Rate 2021 2020 Weighted average remaining lease term (years) Operating leases 3.53 4.21 Finance leases 1.95 2.42 Weighted average discount rate Operating leases 10.5 % 10.5 % Finance leases 10.5 % 10.5 %

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 12 – Commitments and Contingencies Legal Matters From time-to-time, the Company may be involved in certain legal proceedings or regulatory matters arising in the ordinary course of business, including without limitation, actions with respect to intellectual property, employment, regulatory, product liability and contractual matters. In connection with these proceedings or matters, the Company regularly assesses the probability and amount (or range) of possible issues based on the developments in these proceedings or matters. A liability is recorded in the consolidated financial statements if it is determined that it is probable that a loss has been incurred, and that the amount (or range) of the loss can be reasonably estimated. Because of the uncertainties related to any pending proceedings or matters, the Company is currently unable to predict their ultimate outcome and, with respect to any legal proceeding or regulatory matter where no liability has been accrued, to make a reasonable estimate of the possible loss (or range of loss) that could result from an adverse outcome. At September 30, 2021 and December 31, 2020, there were no legal proceedings, regulatory matters, or other disputes or claims for which a material loss was considered probable or for which the amount (or range) of loss was reasonably estimable. However, regardless of the outcome, legal proceedings, regulatory matters, and other disputes and claims can have an adverse impact on the Company because of legal costs, diversion of management time and resources, and other factors.

Summary of Accounting Policies

Summary of Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The Company’s financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to Form 10-Q and Article 10 of Regulation S-X of the Securities and Exchange Commission (“SEC”). Accordingly, the accompanying unaudited condensed consolidated financial statements do not include all of the information and notes required by GAAP for complete financial statements. The unaudited interim financial statements reflect all adjustments which, in the opinion of management, are necessary for a fair statement of the results for the periods presented. All such adjustments are of a normal and recurring nature. The consolidated balance sheet as of December 31, 2020 has been derived from the audited consolidated financial statements at that date but does not include all information and footnotes required by GAAP for complete financial statements. The operating results presented in these unaudited condensed consolidated financial statements are not necessarily indicative of the results that may be expected for any future periods. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in the Company’s final prospectus for the Company's Initial Public Offering (“IPO”), filed pursuant to Rule 424(b) under the Securities Exchange Act of 1933, as amended, with the SEC on July 29, 2021 (the “Prospectus”).
Initial Public Offering and Reverse Stock Split	Initial Public Offering (IPO) and Reverse Stock Split On July 22, 2021, the Company’s Board of Directors approved an amendment to the Company’s Articles of Incorporation to effect a reverse split of shares of the Company’s common stock, excluding Series G and Series W common stock, and convertible preferred stock on a 1-for-10.33 basis (the “Reverse Stock Split”). The par values of the common stock and convertible preferred stock were not adjusted as a result of the Reverse Stock Split. The Reverse Stock Split was effected on July 23, 2021. Accordingly, all common stock, excluding Series G and Series W common stock, options to purchase common stock, convertible preferred stock, share data, per share data and related information contained in the accompanying condensed consolidated financial statements and notes have been retrospectively adjusted to reflect the effect of the Reverse Stock Split for all periods presented. Outstanding stock options were proportionately reduced and the respective exercise prices, if applicable, were proportionately increased. The Reverse Stock Split resulted in an adjustment to the convertible preferred stock conversion prices to reflect a proportional decrease in the number of shares of common stock to be issued upon conversion. On July 29, 2021 , the Company completed its IPO through an underwritten sale of 7,350,000 shares of its common stock at a price of $ 16.00 per share. The aggregate net proceeds from the offering, inclusive of an additional 898,549 common shares sold upon the partial exercise of the underwriters’ purchase option, after deducting underwriting discounts and commissions of $ 9.2 million and other offering costs of $ 3.2 million, were approximately $ 120.0 million. On July 29, 2021, the Company restated its articles of incorporation and bylaws which provide for, among other things, the Company’s authorized capital stock to consist of 900,000,000 shares of common stock, par value $0.001 per share, and 100,000,000 shares of convertible preferred stock, par value $ 0.001 per share. The restated articles define the voting rights, dividends, liquidation, rights and preferences of each class of stock. Immediately prior to the completion of the offering, 14,376,272 outstanding shares of the Company's convertible preferred stock were converted into an aggregate of 14,725,309 shares of common stock and 225,945 warrants to purchase Series H convertible preferred stock were exercised and converted into 100,261 shares of common stock.
Liquidity and Financial Position	Liquidity and Financial Position As of September 30, 2021 and December 31, 2020 the Company had cash, cash equivalents and short-term investments of $ 168.3 million and $ 69.0 million, respectively. The Company began generating revenue from its principal operations in 2019. The Company has a limited operating history, and the revenue and income potential of the Company’s business and market are unproven. The Company has experienced recurring net losses and negative cash flows from operating activities since its inception. For the three months ended September 30, 2021 and 2020 the Company incurred losses from operations of $ 13.1 million and $ 8.9 million, respectively. For the nine months ended September 30, 2021 and 2020, the Company incurred losses from operations of $ 38.1 million and $ 27.1 million, respectively. Due to the Company’s continuing research and development activities and expansion of its sales and marketing efforts, the Company expects to continue to incur net operating losses into the foreseeable future. Successful transition to attaining profitable operations is dependent upon gaining market acceptance of the Company’s products and achieving a level of revenues adequate to support the Company’s cost structure. The accompanying financial statements have been prepared assuming the Company will continue as a going concern. The Company believes that existing capital resources, including the net proceeds from the IPO in July 2021, will be sufficient to meet projected operating requirements for at least 12 months from the date of issuance of the accompanying condensed consolidated financial statements, though the Company expects to continue to incur operating losses and negative cash flows.
COVID-19	COVID-19 The Company has been actively monitoring the novel coronavirus, or COVID-19, situation and its impact. In response to the pandemic, numerous state and local jurisdictions imposed “shelter-in-place” orders, quarantines and other restrictions. Starting in March 2020 in the United States, governmental authorities recommended, and in certain cases required, that elective, specialty and other procedures and appointments be suspended or canceled. Similarly, in March 2020, the governor of California, where the Company’s headquarters are located, issued “stay at home” orders limiting non-essential activities, travel and business operations. Such orders or restrictions resulted in reduced operations at the Company’s headquarters, slowdowns and delays, travel restrictions and cancellation of events. These orders and restrictions significantly decreased the number of procedures performed using the Company’s products during March and April 2020. In response to the impact of COVID-19, the Company implemented a variety of measures to help manage through the impact and position it to resume operations quickly and efficiently once these restrictions were lifted. These measures included: remote work as needed, suspension of non-essential travel, restrictions on in-person work-related meetings, the wearing of personal protective equipment, social distancing, increased facility cleaning and air purification in all of the Company’s buildings and daily health monitoring of all Company employees to prevent or contain COVID-19 exposure. In addition, the Company took steps to preserve liquidity, reduce expenses and monitor operations to mitigate the impact on its current and future financial condition. The impact of COVID-19 continues to change and cannot be predicted. As a result, the Company expects the pandemic could continue to negatively impact its business, financial condition and results of operations.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make informed estimates, judgments and assumptions that affect the reported amounts in the condensed consolidated financial statements and disclosures in the accompanying notes as of the date of the accompanying condensed consolidated financial statements. On an on-going basis, management evaluates the most critical estimates and assumptions for continued reasonableness. In particular, management makes estimates with respect to revenue recognition, warrants and other equity awards; estimated probability and timing of redemption of equity instruments, the realization of income tax assets and estimates of tax liabilities, and excess, obsolete and slow-moving inventory. Actual results may differ materially from the estimates used in the preparation of the accompanying condensed consolidated financial statements under different assumptions or conditions.
Significant Accounting Policies	Significant Accounting Policies There have been no significant changes to the accounting policies during the nine months ended September 30, 2021 , as compared to the significant accounting policies described in Note 2 of the “Notes to Consolidated Financial Statements” in the Company’s audited consolidated financial statements included in the Prospectus.
Cash Equivalents	Cash Equivalents Cash equivalents consist of investments in money market accounts. The Company considers all highly liquid investments with original maturities of three months or less at the date of purchase that can be liquidated without prior notice or penalty to be cash equivalents.
Short-term Investments	Short-term Investments Short-term investments are classified based on the maturity date of the related securities. Based on the nature of the assets, the Company’s short-term investments, which are government securities, are classified as available-for-sale and are recorded at their estimated fair value as determined by prices for identical or similar securities at the balance sheet date. The Company’s short-term investments consist of Level 2 financial instruments in the fair value hierarchy. Unrealized gains and losses are recorded as a component of other comprehensive loss within stockholders’ deficit on the condensed consolidated balance sheets. Realized gains and losses are included as other income (expense) in the accompanying condensed consolidated statements of operations and comprehensive income (loss). The cost basis for realized gains and losses on available-for-sale securities is determined on a specific identification basis. Management determines the appropriate classification of its investments at the time of purchase and reevaluates such determination at each balance sheet date. The Company periodically reviews its investments for unrealized losses other than credit losses and whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. In determining whether the carrying value is recoverable, management considers the following factors:  whether the investment has been in a continuous realized loss position for over 12 months;  the duration to maturity of investments;  intention and ability to hold the investment to maturity and if it is not more likely than not that we will be required to sell the investment before recovery of the amortized cost basis;  the credit rating, financial condition and near-term prospects of the issuer; and  the type of investments made. The Company recorded $ 4,000 of unrealized losses and $ 2,000 of unrealized losses related to short-term investments as of September 30, 2021 and December 31, 2020 , respectively. To date, the Company has not identified any unrealized losses other than credit losses for its short-term investments as determined by prices for identical or similar securities at the balance sheet date. The Company’s short-term investments consist of Level 2 financial instruments in the fair value hierarchy.
Concentration of Credit Risk and Other Risks and Uncertainties	Concentration of Credit Risk and Other Risks and Uncertainties Financial instruments which potentially subject the Company to concentration of credit risk consist primarily of cash, cash equivalents, short-term investments and accounts receivable. The Company’s policy is to invest cash in institutional money market funds and marketable securities of the U.S. government to limit the amount of credit exposure. The Company currently maintains a portfolio of cash equivalents and short-term investments in short-term money market funds and U.S. treasury bills. Additionally, the Company has established guidelines regarding diversification of its investments and their maturities, which are designed to maintain principal and maximize liquidity. The Company has not experienced material losses on cash equivalents and short-term investments.
Accounts Receivable	Accounts Receivable As of September 30, 2021 , the Company did not have any customer who individually accounted for more than 10 % of accounts receivable, and as of December 31, 2020 , the Company had one customer who individually accounted for approximately 35 % of accounts receivable. After evaluation of the collectability of accounts receivable, the Company did no t record an allowance for doubtful accounts as of September 30, 2021 or December 31, 2020 .
Inventories	Inventories Inventories consist of raw materials, work-in-process and finished goods. Raw materials are comprised of chemicals and parts used in the production of the Company lenses, cartridges, and LDDs. Finished goods are comprised of lenses, cartridges, accessories and LDDs. Inventories are valued at the lower of cost or net realizable value. Cost is computed using standard cost, which approximates actual cost on a first-in, first-out basis. The carrying value of inventories is reviewed for potential impairment whenever indicators suggest that the cost of inventories exceeds the carrying value and management adjusts the inventories to its net realizable value. The cost of finished goods and work-in-process is comprised of raw materials, direct labor, other direct costs and related production overhead to the extent that these costs do not exceed the net realizable value of the goods produced. The Company periodically reviews inventories for potential impairment, estimated losses from obsolescence, material expirations or unmarketable inventories and writes down the cost of inventories to net realizable value at the time such determinations are made. Net realizable value is determined using the estimated selling price, in the ordinary course of business, less estimated costs to complete and dispose.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. The Company’s financial instruments consist principally of cash, cash equivalents, short-term investments, accounts receivable, accounts payable, operating lease liabilities, warrant liabilities and a term loan. Fair value is measured as the price that would be received from the sale of an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques that are consistent with the market, income or cost approach are used to measure fair value. The fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three levels: Level 1—Observable inputs such as unadjusted quoted prices in active markets that are accessible at the measurement date for identical unrestricted assets or liabilities. Level 2—Inputs (other than quoted prices included in Level 1) that are either directly or indirectly observable for the asset or liability, for substantially the full term of the asset or liability, through correlation with market data. These include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active and inputs to valuation models or other pricing methodologies that do not require significant judgment because the inputs used in the model, such as interest rates and volatility, can be corroborated by readily observable market data. Level 3—One or more significant inputs that are unobservable and supported by little or no market activity and reflect the use of significant management judgment and assumptions. Level 3 assets and liabilities include those whose fair value measurements are determined using pricing models, discounted cash flow methodologies or similar valuation techniques and significant management judgment or estimation. These include the Black-Scholes option-pricing model which uses inputs such as expected volatility, risk-free interest rate and expected term to determine fair market valuation. Assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurements. The Company reviews the fair value hierarchy classification at each reporting date. Changes in the ability to observe valuation inputs may result in a reclassification of levels for certain assets or liabilities within the fair value hierarchy. The Company did not have any transfers of assets and liabilities between the levels of the fair value measurement hierarchy during the years presented. Cash, cash equivalents, accounts receivable and accounts payable are carried at their estimated fair value because of the short-term nature of these assets and liabilities. The Company’s short-term investments in government securities are carried at fair value, determined based on publicly available quoted market prices for identical securities at the measurement date. The Company believes the fair values of its operating lease liabilities and term loan at September 30, 2021 and December 31, 2020 approximated their carrying values, based on the borrowing rates that were available for loans with similar terms as of that date.
Warrants to Purchase Stock	Warrants to Purchase Stock The Company recognizes the freestanding warrants to purchase shares of convertible preferred stock as liabilities at fair value as these warrant instruments are embedded in contracts that may be cash settled. The convertible preferred stock warrants were issued for no cash consideration as detachable freestanding instruments but can be converted to convertible preferred stock at the holder’s option based on the exercise price of the warrant. However, the deemed liquidation provisions of the convertible preferred stock are considered contingent redemption provisions that are not solely within the control of the Company. Therefore, the convertible preferred stock is classified in temporary equity on the accompanying condensed consolidated balance sheets, and the warrants to purchase the convertible preferred stock are classified as liabilities. The Company recognized a freestanding warrant to purchase a share of Series W common stock as a liability at fair value because this instrument was not indexed to the Company’s own stock as the settlement calculation incorporated variables other than those used to determine the fair value of a fixed-for-fixed forward or option on equity shares. The common stock warrant was issued for cash consideration as a freestanding instrument and could be converted to one share of common stock, Series W, at the holder’s option based on the exercise price of the warrant and prior to the expiration date of March 31, 2021. The warrants were recorded on the accompanying condensed consolidated balance sheets at their fair value on the date of issuance and were subject to re-measurement to fair value at each balance sheet date. Changes in fair value were recognized as a component of other income (expense), net in the accompanying condensed consolidated statements of operations and comprehensive income (loss). Upon issuance of the Series W common stock warrant, the Company engaged valuation specialists to assist with determining its fair value using a Monte Carlo simulation approach. In addition, the Company engaged the valuation specialists to derive an estimated fair value of the preferred stock warrants using a probability weighted expected return model/option pricing model (“PWERM/OPM”) hybrid valuation model. Pursuant to the terms of the preferred stock warrants, upon the conversion of the class of preferred stock underlying the warrant, the warrants automatically become exercisable for shares of the Company’s common stock based upon the conversion ratio of the underlying class of preferred stock. The exercise of the common stock warrant or consummation of a qualified initial public offering would result in the automatic conversion of all classes of the Company’s preferred stock into common stock. Upon such conversion of the underlying classes of preferred stock, the warrants would be classified as a component of equity and would no longer be subject to remeasurement. Accordingly, the Company continued to adjust the warrant liabilities for changes in fair value through the date of the conversion of the underlying convertible preferred stock into common stock which occurred upon the completion of the Company's IPO in July 2021. Deferred Offering Costs The Company capitalized deferred offering costs consisting of all direct and incremental legal, professional, accounting and other third-party fees incurred in connection with the Company’s IPO. As of September 30, 2021, total deferred offering costs of $ 3.2 million were reclassified to additional paid-in capital in the accompanying condensed consolidated balance sheets.
Deferred Offering Costs	Deferred Offering Costs The Company capitalized deferred offering costs consisting of all direct and incremental legal, professional, accounting and other third-party fees incurred in connection with the Company’s IPO. As of September 30, 2021, total deferred offering costs of $ 3.2 million were reclassified to additional paid-in capital in the accompanying condensed consolidated balance sheets.
Net (Loss) Income per Share	Net (Loss) Income per Share The Company computes basic net (loss) income per share for common stock using the two-class method required for companies with participating securities based upon the weighted-average number of common shares outstanding during the period. Diluted net (loss) income per share assumes the conversion, exercise or issuance of all potential common stock equivalents, unless the effect of inclusion would be anti-dilutive. For purposes of this calculation, common stock equivalents include the Company’s stock options, warrants and the shares issuable upon the conversion of the preferred stock. For stock options and preferred stock, the calculation of diluted (loss) income per share requires an adjustment for the additional share of undistributed earnings and accretion to redemption value for the period that the common stockholders are entitled to if exercise is assumed. For warrants that are recorded as a liability in the accompanying condensed consolidated balance sheets, the calculation of diluted (loss) income per share requires that, to the extent the average market price of the underlying shares for the reporting period exceeds the exercise price of the warrants and the presumed exercise of the warrants is dilutive to the loss per share for the period, an adjustment is made to net (loss) income used in the calculation to remove the change in fair value of the warrants from the numerator for the period. Likewise, an adjustment to the denominator is required to reflect the related dilutive shares, if any, under the treasury stock method. The following tables show the computation of basic and diluted net income (loss) per share for the three and nine months ended September 30, 2021 and 2020, (common stock in thousands, except share and per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Common Stock Numerator: Net (loss) income available to stockholders, $ ( 12,673 ) $ 5,900 $ ( 32,954 ) $ ( 14,892 ) Effect of dilutive securities: Redeemable stock options — 411 — — Net (loss) income available to stockholders, $ ( 12,673 ) $ 6,311 $ ( 32,954 ) $ ( 14,892 ) Denominator: Weighted-average shares outstanding, 18,732,459 3,798,504 8,998,895 3,672,121 Effect of dilutive securities: Redeemable stock options — 1,757,399 — — Preferred stock warrants — 15,890 — — Weighted-average shares, diluted 18,732,459 5,571,793 8,998,895 3,672,121 Basic net (loss) income per share $ ( 0.68 ) $ 1.55 $ ( 3.66 ) $ ( 4.06 ) Diluted net (loss) income per share $ ( 0.68 ) $ 1.13 $ ( 3.66 ) $ ( 4.06 ) Series G Common Stock Numerator: Net income (loss) available to stockholder, basic $ — $ 0.01 $ — $ ( 0.76 ) Effect of dilutive securities: Redeemable preferred stock and warrants — — — — Net income (loss) available to stockholder, diluted $ — $ 0.01 $ — $ ( 0.76 ) Denominator: Weighted-average shares outstanding, basic and diluted 1 1 Basic net income (loss) per share — $ 0.01 — $ ( 0.76 ) Diluted net income (loss) per share — $ 0.01 — $ ( 0.76 ) The following outstanding potentially dilutive securities were excluded from the calculation of diluted net income (loss) per share attributable to common stockholders because their impact under the “treasury stock method” and “if-converted method” was anti-dilutive for the periods presented: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Redeemable convertible preferred stock — 14,849,188 — 14,849,188 Preferred stock warrants — — — 227,762 Stock options 5,046,965 — 4,565,932 — Redeemable stock options — 1,803,687 — 3,905,753 Restricted stock units 232,805 — 78,455 —
Revenue Recognition	Revenue Recognition The Company’s revenues from sales are generated from the sale of light adjustable intraocular lenses, the RxLAL, used in cataract surgery along with a specifically designed machine for delivering light to the eye, the Light Delivery Device (LDD), to adjust the lens post-surgery, as needed. Revenue from sales is recognized from products sold in the U.S. and Europe. Customers are primarily comprised of ambulatory surgery centers, hospitals, and physician private practices. The Company recognizes revenue from sales when promised goods or services are transferred to customers at a transaction price that reflects the consideration to which the Company expects to be entitled in exchange for those goods and services. Specifically, the Company applies the following five steps to recognize revenue from sales: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue from sales when, or as, the Company satisfies a performance obligation. The Company applies the five-step model to contracts when it is probable that it will collect the consideration to which it is entitled in exchange for the goods or services it transfers to the customer. At contract inception, the Company assesses the goods promised within each customer contract to determine the individual deliverables in its product offerings as separate performance obligations and assesses whether each promised good or service is distinct. The transaction price is determined based on the consideration expected to be received, based either on the stated value in contractual arrangements or the estimated cash to be collected in non-contracted arrangements. The Company recognizes revenue from sales as the amount of the transaction price that is allocated to the respective performance obligation when, or as, the performance obligation is satisfied, considering whether or not this occurs at a point in time or over time. The Company elected to account for shipping costs as fulfillment costs rather than a promised service and excludes from revenue any taxes collected from customers that are remitted to government authorities. The Company’s LDD contracts contain multiple performance obligations bundled for one transaction price, with all obligations generally satisfied within one year. For these bundled arrangements, the Company accounts for individual products and services as separate performance obligations if they are distinct, that is, if a product or service is separately identifiable from other items in the bundled package, and if a customer can benefit from it on its own or with other resources that are readily available to the customer. The Company’s LDD contracts include a combination of the following performance obligations: (1) LDD capital asset and related components, (2) training and (3) device service (initial year). Each of these three performance obligations are considered distinct. The LDD capital asset is distinct because the customer can benefit from it together with other resources that are readily available to the customer. Training on the use of the machine is offered as a distinct activity after installation of the LDD to enhance the customer’s ability to utilize the machine by having an industry professional provide best practices and customize training to the specific needs of the customer. Each LDD comes with a twelve-month manufacturer’s warranty (service-type) that includes preventative maintenance, unscheduled service (labor and parts) and software updates. After the first year, service contracts can be purchased separately on a standalone basis. The Company recognizes revenue as performance obligations are satisfied by transferring control of the product or service to a customer. Specifically, revenue for the LDD capital asset is recognized at a point in time at installation. Revenue for training is also recorded at a point in time, generally 30 days after installation. Revenue for the device service is recognized ratably over time after installation, generally 12 months. The Company has determined that the transaction price is the invoice price, net of adjustments, if any. The allocation to the separate performance obligations is based upon the relative standalone selling price. Standalone selling prices are based on observable prices at which the Company separately sells the products or services The Company estimates the standalone selling price using the market assessment approach considering market conditions and entity-specific factors including, but not limited to, features and functionality of the products and services, geographies, type of customer and market conditions. The Company regularly reviews and updates standalone selling prices as necessary. RxLALs are held at customer sites on consignment. The single performance obligation is satisfied, and revenue from sales is recognized for RxLALs upon customer notification that the RxLALs have been implanted in a patient. For the three and nine months ended September 30, 2021 and 2020, credits related to returns and rebates on list prices were not significant. The Company adopted the practical expedient permitting the direct expensing of costs incurred to obtain contracts where the amortization of such costs would occur over one year or less, and it applied to substantially all the Company’s contracts. For the three and nine months ended September 30, 2021 and 2020, revenue from sales from contracts with customers consisted of the following (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 LDD (including training) $ 3,661 $ 2,655 $ 8,463 $ 6,864 RxLAL 1,944 1,444 5,264 2,734 Service warranty, service contracts, and accessories 181 71 440 166 $ 5,786 $ 4,170 $ 14,167 $ 9,764 As of September 30, 2021 and December 31, 2020, the Company recognized deferred revenue from sales on its condensed consolidated balance sheets of $ 449 ,000 and $ 248 ,000 , respectively, related to the service agreement performance obligation. Sales for service agreements is recognized ratably over the term of each contract. The following table represents the deferred revenue from sales activity for the nine months ended September 30, 2021 and 2020, respectively (in thousands): 2021 2020 Balance at beginning of period $ 345 $ 39 Consideration deferred during the period 506 303 Revenue recognized during the period ( 402 ) ( 94 ) Balance at end of period $ 449 $ 248 For the three months ended September 30, 2021, the Company had one customer who individually accounted for approximately 11 % of revenue. For nine months ended September 30, 2021 , the Company had no customer who individually accounted for more than 10 % of revenue. For the three and nine months ended September 30, 2020 the Company had one customer who individually accounted for approximately 33 % and 37 % of revenue, respectively.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In August 2018, the FASB issued ASU 2018-15, “Intangibles – Goodwill and Other – Internal Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract, ” ( “ ASU 2018-15 ”) which changes the accounting for implementation costs incurred in a cloud computing arrangement that is a service contract. The update aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The implementation costs should be presented as a prepaid expense in the balance sheet and expensed over the term of the hosting arrangement. This standard is effective beginning January 1, 2021, and early adoption is permitted. The Company adopted ASU 2018-15 on January 1, 2021, and the adoption of ASU 2018-15 did not have a material impact on its consolidated financial statements. In June 2020, the FASB issued ASU No. 2020-06, “Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity, ” ( “ ASU No. 2020-06 ”) which is intended to simplify the accounting for convertible instruments. This new guidance eliminates certain models that require separate accounting for embedded conversion features and eliminates certain of the conditions for equity classification for contracts in an entity’s own equity. Accordingly, a convertible debt instrument will be accounted for as a single liability measured at its amortized cost, as long as no other features require bifurcation and recognition as derivatives. The new guidance can be adopted through either a modified retrospective method of transition or a fully retrospective method of transition. ASU 2020-06 is effective for public business entities for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The Company is in the process of determining the impact of the adoption of the standard on its consolidated financial statements.
Emerging Growth Company Status	Emerging Growth Company Status The Company is an emerging growth company, as defined in the Jumpstart Our Business Startups Act of 2012, or the JOBS Act. Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until such time as those standards apply to private companies. The Company has irrevocably elected to not take this exemption and, as a result, will adopt new or revised accounting standards on the relevant effective dates on which adoption of such standards is required for other public companies that are not emerging growth companies.

Summary of Accounting Policie_2

Summary of Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Schedule of Basic and Diluted Net Loss Per Share	The following tables show the computation of basic and diluted net income (loss) per share for the three and nine months ended September 30, 2021 and 2020, (common stock in thousands, except share and per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Common Stock Numerator: Net (loss) income available to stockholders, $ ( 12,673 ) $ 5,900 $ ( 32,954 ) $ ( 14,892 ) Effect of dilutive securities: Redeemable stock options — 411 — — Net (loss) income available to stockholders, $ ( 12,673 ) $ 6,311 $ ( 32,954 ) $ ( 14,892 ) Denominator: Weighted-average shares outstanding, 18,732,459 3,798,504 8,998,895 3,672,121 Effect of dilutive securities: Redeemable stock options — 1,757,399 — — Preferred stock warrants — 15,890 — — Weighted-average shares, diluted 18,732,459 5,571,793 8,998,895 3,672,121 Basic net (loss) income per share $ ( 0.68 ) $ 1.55 $ ( 3.66 ) $ ( 4.06 ) Diluted net (loss) income per share $ ( 0.68 ) $ 1.13 $ ( 3.66 ) $ ( 4.06 ) Series G Common Stock Numerator: Net income (loss) available to stockholder, basic $ — $ 0.01 $ — $ ( 0.76 ) Effect of dilutive securities: Redeemable preferred stock and warrants — — — — Net income (loss) available to stockholder, diluted $ — $ 0.01 $ — $ ( 0.76 ) Denominator: Weighted-average shares outstanding, basic and diluted 1 1 Basic net income (loss) per share — $ 0.01 — $ ( 0.76 ) Diluted net income (loss) per share — $ 0.01 — $ ( 0.76 )
Schedule of Dilutive Securities Excluded from Computation of Income (Loss) Per Share	The following outstanding potentially dilutive securities were excluded from the calculation of diluted net income (loss) per share attributable to common stockholders because their impact under the “treasury stock method” and “if-converted method” was anti-dilutive for the periods presented: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Redeemable convertible preferred stock — 14,849,188 — 14,849,188 Preferred stock warrants — — — 227,762 Stock options 5,046,965 — 4,565,932 — Redeemable stock options — 1,803,687 — 3,905,753 Restricted stock units 232,805 — 78,455 —
Schedule of Revenue from Contracts with Customers	For the three and nine months ended September 30, 2021 and 2020, revenue from sales from contracts with customers consisted of the following (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 LDD (including training) $ 3,661 $ 2,655 $ 8,463 $ 6,864 RxLAL 1,944 1,444 5,264 2,734 Service warranty, service contracts, and accessories 181 71 440 166 $ 5,786 $ 4,170 $ 14,167 $ 9,764
Schedule of Deferred Revenue Activity	The following table represents the deferred revenue from sales activity for the nine months ended September 30, 2021 and 2020, respectively (in thousands): 2021 2020 Balance at beginning of period $ 345 $ 39 Consideration deferred during the period 506 303 Revenue recognized during the period ( 402 ) ( 94 ) Balance at end of period $ 449 $ 248 For the three months ended September 30, 2021, the Company had one customer who individually accounted for approximately 11 % of revenue. For nine months ended September 30, 2021 , the Company had no customer who individually accounted for more than 10 % of revenue. For the three and nine months ended September 30, 2020 the Company had one customer who individually accounted for approximately 33 % and 37 % of revenue, respectively.

Short-Term Investment (Tables)

Short-Term Investment (Tables)	9 Months Ended
	Sep. 30, 2021
Short Term Investments [Abstract]
Schedule of Short-term Investments Available For Sale	Short-term investments, principally U.S. Treasury bills, are available-for-sale and consisted of the following (in thousands): As of September 30, 2021 Amortized Cost Unrealized Loss, Net Estimated Fair Value Government securities $ 99,989 $ ( 4 ) $ 99,985 As of December 31, 2020 Amortized Cost Unrealized Loss, Net Estimated Fair Value Government securities $ 54,983 $ ( 2 ) $ 54,981

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2021
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consisted of the following (in thousands): September 30, December 31, 2021 2020 Finished goods $ 6,443 $ 5,092 Raw materials 3,598 1,827 Work-in-process 1,777 1,685 11,818 8,604 Less: reserve for excess and obsolete inventory ( 2,376 ) ( 316 ) $ 9,442 $ 8,288

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Schedule of assets and liabilities measured at fair value on recurring basis and the fair value hierarchy of the valuation techniques	As of September 30, 2021 Level I Level II Level III Total Assets: Money market securities $ 65,368 $ — $ — $ 65,368 Government securities — 99,985 — 99,985 Total assets at fair value $ 65,368 $ 99,985 $ — $ 165,353 As of December 31, 2020 Level I Level II Level III Total Assets: Money market securities $ 11,822 $ — $ — $ 11,822 Government securities — 54,981 — 54,981 Total assets at fair value $ 11,822 $ 54,981 $ — $ 66,803 Liabilities: Common stock warrant liability $ — $ — $ ( 5,018 ) $ ( 5,018 ) Redeemable convertible preferred stock warrant — — ( 3,828 ) ( 3,828 ) Total liabilities at fair value $ — $ — $ ( 8,846 ) $ ( 8,846 )
Schedule of estimated fair value for the warrant liabilities measured using significant unobservable inputs	The following table sets forth changes in the estimated fair values for the Company’s warrant liabilities measured using significant unobservable inputs (in thousands): Nine Months Ended Year Ended September 30, 2021 December 31, 2020 Beginning of period $ 8,846 $ 71,881 Exercise of preferred stock warrants ( 1,111 ) ( 24 ) Expiration of common stock warrant ( 5,018 ) — Change in fair value of common stock warrant — ( 64,628 ) Change in fair value of preferred stock warrants ( 2,717 ) 1,617 End of period $ — $ 8,846

Term Loan (Tables)

Term Loan (Tables)	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Future Principal Payments Due Under the Term Loan	As of September 30, 2021 future principal payments due under the Term Loan were as follows (in thousands): Year Ended December 31, 2021 (remainder) $ — 2022 — 2023 1,739 2024 20,870 2025 17,391 Total 40,000 Less: unamortized issuance costs and exit fee ( 364 ) Term loan, net $ 39,636

Convertible Preferred Stock a_2

Convertible Preferred Stock and Stockholders’ Deficit (Tables)	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Summary of Preferred Stock	The following table summarizes information related to issuance of the Company’s preferred stock (in thousands, except number of shares and per share amounts): As of December 31, 2020 Par Value Date of Shares Shares Shares Liquidation Carrying Series A $ 0.001 Feb-2000 $ 40.81 355,921 355,903 $ 14,523 $ 13,535 Series B $ 0.001 May-2003 $ 9.07 1,741,452 1,741,399 15,795 39,715 Series C $ 0.001 Feb-2007 $ 12.92 1,168,344 1,168,311 15,086 28,136 Series D $ 0.001 Aug-2009 $ 18.08 663,808 663,728 12,000 18,503 Series E $ 0.001 Oct-2011 $ 20.66 353,339 353,327 7,300 10,350 Series F $ 0.001 May-2012 $ 25.83 507,744 499,159 12,891 18,305 Series G $ 0.001 Jun-2015 $ 12.40 5,832,685 5,788,878 71,759 135,682 Series H $ 0.001 Feb-2017 $ 12.40 5,949,499 3,805,567 47,174 89,074 16,572,792 14,376,272 $ 196,528 $ 353,300 (1) The shares authorized, issued and outstanding do not reflect any anti-dilution provisions of Series C, Series D, Series E and Series F as a result of the Series G financing. (2) The carrying value reflects the gross proceeds received from the sale of the preferred stock less issuance costs and the fair value at issuance of preferred stock warrants classified as a liability, plus accretion of redemption value.
Summary of Common Stock Reserved for Future Issuance	Common stock reserved for future issuance consisted of the following: September 30, 2021 December 31, 2020 Conversion of preferred stock — 14,851,007 Preferred stock warrants — 225,945 Common stock warrant — 1 Stock options issued and outstanding under the 2006, 2015 and 2021 plans 5,454,112 4,201,935 Restricted stock units 657,729 — Total shares of common stock reserved 6,111,841 19,278,888

Stock-Based Compensation Expe_2

Stock-Based Compensation Expense (Tables)	9 Months Ended
	Sep. 30, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Stock Option Activities	A summary of stock option activities for the nine months ended September 30, 2021 is as follows: Number of Options Weighted Weighted Weighted Avg Options outstanding as of 4,201,935 $ 9.57 6.46 Issued Granted 1,652,751 $ 15.51 $ 8.94 Exercised ( 321,812 ) $ 4.28 $ 2.12 Forfeited ( 61,053 ) $ 19.47 $ 10.51 Expired ( 17,709 ) Options outstanding as of 5,454,112 $ 11.59 6.97 Exercisable as of September 30, 2021 3,174,863 $ 8.76 5.35
Summary of Non-Vested Restricted stock unit Activities	A summary of non-vested restricted stock unit activities for the nine months ended September 30, 2021 is as follows: Weighted Average Number of Grant Date Shares Fair Value Unvested at December 31, 2020 — Granted 657,729 $ 15.46 Vested — Forfeited — Unvested at September 30, 2021 657,729 $ 15.46
Schedule of Stock-Based Compensation Expense	Stock-based compensation expense was classified in the accompanying condensed consolidated statements of operations and comprehensive income (loss) as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Research and development $ 623 $ 626 $ 1,760 $ 1,541 Selling, general and administrative 1,168 430 2,317 953 Cost of goods sold 222 185 581 454 $ 2,013 $ 1,242 $ 4,658 $ 2,948
Schedule of Range and Weighted-average Assumptions Used in Black-Scholes Option Pricing Model to Determine the Fair Value of Stock Options	The following table presents the range and weighted-average assumptions, used in the Black-Scholes option pricing model to determine the fair value of stock options: Nine Months Ended September 30, 2021 Range Weighted Average Expected volatility 62.3 % to 63.7 % 63.3 % Risk-free interest rate 0.6 % to 1.6 % 1.0 % Expected life (in years) 5.52 to 10.00 years 6 years Expected dividend yield 0.0 % 0.0 % Grant date fair value $ 12.54 to $ 19.94 $ 15.51 On July 30, 2021, the Board of Directors approved the issuance of 640,567 equity awards to the Company's named executive officers and certain non-employee directors, consisting of 17,577 restricted stock units and 622,990 stock option awards. The awards will vest over one to four years of service. On August 3, 2021, the Board of Directors approved the issuance of equity awards to certain non-employee directors, consisting of 40,134 restricted stock units. The awards will vest over one to three years of service.

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2021
Leases [Abstract]
Schedule of Lease Balance Sheet Information	The following table presents the lease balances within the condensed consolidated balance sheets (in thousands): September 30, December 31, Leases Classification 2021 2020 Assets Operating Operating leases right-of-use assets 4,561 $ 5,319 Finance Property and equipment, net 38 58 Total lease assets 4,599 5,377 Liabilities Current Operating Lease liabilities 1,449 1,247 Finance Lease liabilities 20 27 Noncurrent Operating Long-term lease liabilities 4,011 5,042 Finance Long-term lease liabilities 22 37 Total lease liabilities $ 5,502 $ 6,353
Schedule of Component of Lease Expense	For the three and nine months ended September 30, 2021 and 2020, the components of operating and finance lease expenses were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, Lease Cost Classification 2021 2020 2021 2020 Operating lease cost Cost of goods sold $ 3 $ 3 $ 10 $ 10 Research and development 64 47 222 110 Selling, general and administrative expenses 402 418 1,205 1,138 Finance lease cost Amortization of right-of-use asset included in Research and development expenses — 32 — 115 Amortization of right-of-use asset included in Selling, general and administrative expenses 5 10 20 36 Finance lease cost Interest expense 1 3 4 12
Schedule of Maturities of Lease Liabilities	Maturities of the Company’s operating and finance lease liabilities as of September 30, 2021 were as follows (in thousands): Operating Finance Year Ended December 31, Leases Leases 2021 (remainder) $ 484 $ 6 2022 1,955 23 2023 1,683 18 2024 1,456 — 2025 951 — 2026 79 — Total lease payments 6,608 47 Less: imputed interest 1,148 5 Total lease liabilities $ 5,460 $ 42
Summary of Weighted Average Remaining Lease Term and Discount Rate	The weighted average remaining lease term and weighted average discount rate used to determine lease liabilities related to the Company’s operating and finance leases as of September 30, 2021 and December 31, 2020 were: September 30, December 31, Lease Term and Discount Rate 2021 2020 Weighted average remaining lease term (years) Operating leases 3.53 4.21 Finance leases 1.95 2.42 Weighted average discount rate Operating leases 10.5 % 10.5 % Finance leases 10.5 % 10.5 %

Organization and Basis of Pre_2

Organization and Basis of Presentation - Additional Information (Details) $ / shares in Units, $ in Millions		Jul. 29, 2021USD ($)$ / sharesshares	Jul. 22, 2021	Sep. 30, 2021USD ($)$ / sharesshares	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)Subsidiary$ / sharesshares	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)$ / sharesshares		Jun. 30, 2021shares
Subsequent Event [Line Items]
Number of wholly owned subsidiaries | Subsidiary						2
Preferred stock, shares outstanding				0		0		14,376,272	[1]
Aggregate shares of common stock				14,725,309		14,725,309
Reverse stock split			1-for-10.33
Cash, cash equivalents, and short-term investments | $				$ 168.3		$ 168.3		$ 69
Losses from operations | $				$ 13.1	$ 8.9	$ 38.1	$ 27.1
Common stock, shares authorized		900,000,000		900,000,000		900,000,000
Common stock par value per share | $ / shares				$ 0.001		$ 0.001		$ 0.001
Preferred stock, shares authorized				100,000,000		100,000,000		16,572,792	[1]
Preferred stock par value per share | $ / shares				$ 0.001		$ 0.001		$ 0.001
Convertible Preferred Stock
Subsequent Event [Line Items]
Preferred stock, shares outstanding				14,376,272		14,376,272
Preferred stock, shares authorized		100,000,000
Preferred stock par value per share | $ / shares		$ 0.001		$ 0.001		$ 0.001		$ 0.001
Series H Convertible Preferred Stock
Subsequent Event [Line Items]
Sale of stock, date								Feb. 28, 2017
Common stock par or stated value per share | $ / shares								$ 12.40
Preferred stock, shares outstanding	[1]							3,805,567
Warrants exercised										225,945
Number of converted shares of common stock				100,261		100,261
Preferred stock, shares authorized	[1]							5,949,499
Preferred stock par value per share | $ / shares								$ 0.001
IPO [Member]
Subsequent Event [Line Items]
Sale of shares		7,350,000
Sale of stock, date		Jul. 29, 2021
Common stock par or stated value per share | $ / shares		$ 16
Additional common shares sold		898,549
Aggregate net proceeds from offering | $		$ 120
Common stock sale underwriting discounts and commission deducted | $		9.2
Common Stock Offering Costs | $		$ 3.2
[1]	The shares authorized, issued and outstanding do not reflect any anti-dilution provisions of Series C, Series D, Series E and Series F as a result of the Series G financing.

Summary of Accounting Policie_3

Summary of Accounting Policies - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Unrealized gain (Loss) on short term investments			$ 4,000		$ (2,000)
Accounts receivable, percentage			10.00%		35.00%
Allowance for doubtful accounts			$ 0		$ 0
Deferred revenue	$ 449,000		$ 449,000		$ 248,000
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | No Customer [Member]
Concentration Risk, Percentage	11.00%	33.00%	10.00%	37.00%
Additional Paid In Capital [Member]
Deferred offering costs	$ 3,200,000		$ 3,200,000

Summary of Accounting Policie_4

Summary of Accounting Policies - Schedule of Basic and Diluted Net Income (Loss) Per Share (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Numerator:
Net (loss) income available to common stockholders	$ (12,673,000)	$ 5,900,000	$ (32,954,000)	$ (14,892)
Denominator:
Weighted-average shares outstanding, basic	18,732,459	0	8,998,895	0
Weighted-average shares, diluted	18,732,459	0	8,998,895	0
Basic net income (loss) per share	$ (0.68)	$ 0	$ (3.66)	$ 0
Diluted net income (loss) per share	$ (0.68)	$ 0	$ (3.66)	$ 0
Common Stock
Numerator:
Net (loss) income available to common stockholders	$ (12,673,000)	$ 5,900,000	$ (32,954,000)	$ (14,892)
Effect of dilutive securities:
Net (loss) income available to stockholders, diluted	$ (12,673)	$ 6,311	$ (32,954)	$ (14,892)
Denominator:
Weighted-average shares outstanding, basic	18,732,459	3,798,504	8,998,895	3,672,121
Weighted-average shares, diluted	18,732,459	5,571,793	8,998,895	3,672,121
Basic net income (loss) per share	$ (0.68)	$ 1.55	$ (3.66)	$ (4.06)
Diluted net income (loss) per share	$ (0.68)	$ 1.13	$ (3.66)	$ (4.06)
Common Stock | Preferred Stock Warrants
Denominator:
Effect of Anti Dilutive Securities		15,890
Common Stock | Redeemable Stock Options [Member]
Effect of dilutive securities:
Effect of dilutive securities		$ 411
Denominator:
Effect of Anti Dilutive Securities		1,757,399
Series G Common Stock [Member]
Numerator:
Net (loss) income available to common stockholders		$ 0.01		$ (0.76)
Effect of dilutive securities:
Net (loss) income available to stockholders, diluted		$ 0.01		$ (0.76)
Denominator:
Basic net income (loss) per share		$ 0.01		$ (0.76)
Diluted net income (loss) per share		$ 0.01		$ (0.76)
Weighted-average shares outstanding, basic and diluted		1		1

Summary of Accounting Policie_5

Summary of Accounting Policies - Schedule of Dilutive Securities Excluded from Computation of Income (Loss) Per Share (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Redeemable Convertible Preferred Stock
Earnings Per Share [Line Items]
Anti-dilutive securities	0	14,849,188	0	14,849,188
Stock Option [Member]
Earnings Per Share [Line Items]
Anti-dilutive securities	5,046,965	0	4,565,932	0
Preferred Stock Warrant
Earnings Per Share [Line Items]
Anti-dilutive securities	0	0	0	227,762
Redeemable Stock Options
Earnings Per Share [Line Items]
Anti-dilutive securities	0	1,803,687	0	3,905,753
Restricted Stock Units (RSUs) [Member]
Earnings Per Share [Line Items]
Anti-dilutive securities	232,805	0	78,455	0

Summary of Accounting Policie_6

Summary of Accounting Policies - Schedule of Revenue From Contracts With Customers (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers	$ 5,786	$ 4,170	$ 14,167	$ 9,764
L D D
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers	3,661	2,655	8,463	6,864
RxLAL [Member]
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers	1,944	1,444	5,264	2,734
Service Warranty Service Contracts And Accessories
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers	$ 181	$ 71	$ 440	$ 166

Summary of Accounting Policie_7

Summary of Accounting Policies - Schedule of Deferred Revenue Activity (Details) - USD ($)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Deferred Revenue [Abstract]
Balance at beginning of period	$ 345,000	$ 39,000
Consideration earned during the period	(506,000)	(303,000)
Recognized during the period	402,000	94,000
Balance at end of period	$ 449,000	$ 248,000

Short-Term Investment - Schedul

Short-Term Investment - Schedule of Short-term Investment Available For Sale (Details) - Government Securities [Member] - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Short Term Debt [Line Items]
Amortized Cost	$ 99,989	$ 54,983
Unrealized Loss, Net	(4)	(2)
Estimated Fair Value	$ 99,985	$ 54,981

Short-Term Investment - Additio

Short-Term Investment - Additional Information (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Maximum [Member] | Government Securities [Member]
Short Term Debt [Line Items]
Investment maturity period	1 year	1 year

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Finished goods	$ 6,443	$ 5,092
Raw materials	3,598	1,827
Work-in-process	1,777	1,685
Inventory gross	11,818	8,604
Less: reserve for excess and obsolete inventory	(2,376)	(316)
Inventory net	$ 9,442	$ 8,288

Inventories - Additional Inform

Inventories - Additional Information (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Inventory held on consignment	$ 1.7	$ 2.7

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of assets and liabilities measured at fair value on recurring basis and the fair value hierarchy of the valuation techniques (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Assets:
Total assets at fair value	$ 165,353	$ 66,803
Liability:
Total liabilities at fair value		(8,846)
Common stock warrant liability [Member]
Liability:
Total liabilities at fair value		(5,018)
Redeemable convertible preferred stock warrant liability [Member]
Liability:
Total liabilities at fair value		(3,828)
Money market Securities [Member]
Assets:
Total assets at fair value	65,368	11,822
Government Securities [Member]
Assets:
Total assets at fair value	99,985	54,981
Level I [Member]
Assets:
Total assets at fair value	65,368	11,822
Liability:
Total liabilities at fair value		0
Level I [Member] | Common stock warrant liability [Member]
Liability:
Total liabilities at fair value		0
Level I [Member] | Redeemable convertible preferred stock warrant liability [Member]
Liability:
Total liabilities at fair value		0
Level I [Member] | Money market Securities [Member]
Assets:
Total assets at fair value	65,368	11,822
Level I [Member] | Government Securities [Member]
Assets:
Total assets at fair value	0	0
Level II [Member]
Assets:
Total assets at fair value	99,985	54,981
Liability:
Total liabilities at fair value		0
Level II [Member] | Common stock warrant liability [Member]
Liability:
Total liabilities at fair value		0
Level II [Member] | Redeemable convertible preferred stock warrant liability [Member]
Liability:
Total liabilities at fair value		0
Level II [Member] | Money market Securities [Member]
Assets:
Total assets at fair value	0	0
Level II [Member] | Government Securities [Member]
Assets:
Total assets at fair value	99,985	54,981
Level III [Member]
Assets:
Total assets at fair value	0	0
Liability:
Total liabilities at fair value		(8,846)
Level III [Member] | Common stock warrant liability [Member]
Liability:
Total liabilities at fair value		(5,018)
Level III [Member] | Redeemable convertible preferred stock warrant liability [Member]
Liability:
Total liabilities at fair value		(3,828)
Level III [Member] | Money market Securities [Member]
Assets:
Total assets at fair value	0	0
Level III [Member] | Government Securities [Member]
Assets:
Total assets at fair value	$ 0	$ 0

Fair Value Measurements -Schedu

Fair Value Measurements -Schedule of estimated fair value for the warrant liabilities measured using significant unobservable inputs (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Beginning balance	$ 8,846	$ 71,881
Exercise of preferred stock warrants	(1,111)	(24)
Expiration of common stock warrants	(5,018)	0
Change in fair value of common stock warrant	0	(64,628)
Change in fair value of preferred stock warrants	(2,717)	1,617
Ending balance	$ 0	$ 8,846

Term Loan - Additional Informat

Term Loan - Additional Information (Details) - Term loan [Member] - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021	Jun. 30, 2021	Oct. 31, 2020	Mar. 31, 2020
Debt Instrument [Line Items]
Debt instrument face amount				$ 25,000,000
Term loan additional borrowing			$ 10,000,000		$ 5,000,000
Interest rate on borrowings term loan	9.25%	9.25%
Effective interest rate on borrowings term loan	10.69%	10.97%
Maximum [Member]
Debt Instrument [Line Items]
Debt instrument face amount				$ 35,000,000

Term Loan - Future Principal Pa

Term Loan - Future Principal Payments Due Under the Term Loan (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
2021 (remainder)	$ 0
2022	0
2023	1,739
2024	20,870
2025	17,391
Total	40,000
Less: unamortized issuance costs and exit fee	(364)
Term loan, net	$ 39,636	$ 24,399

Common Stock Warrant Liability

Common Stock Warrant Liability - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020	Dec. 27, 2018	Oct. 12, 2017
Class Of Warrant Or Right [Line Items]
Common stock par value per share	$ 0.001	$ 0.001
Series W Common Stock [Member]
Class Of Warrant Or Right [Line Items]
Warrants issued to purchase common stock				$ 60
Additional non-refundable payment upon extension of expiration			$ 40
Common stock par value per share	$ 0.001
Exercise price of warrants	$ 630
Escrow holdback of exercise price of warrants	92
Shareholder representative holdback of exercise price of warrants	0.5
Potential aggregate payments for sales based and operating milestones	827
Potential aggregate payments for regulatory milestones	185
Gain on expiration of warrants	$ 5
Share Purchase Agreement [Member] | Nonvoting Common Stock [Member]
Class Of Warrant Or Right [Line Items]
Common stock par value per share	$ 0.001
Series G Common Stock [Member]
Class Of Warrant Or Right [Line Items]
Common stock par value per share	$ 0.01

Convertible Preferred Stock a_3

Convertible Preferred Stock and Stockholders' Deficit - Summary of Preferred Stock (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
		Dec. 31, 2020		Sep. 30, 2021
Temporary Equity [Line Items]
Par Value		$ 0.001		$ 0.001
Shares Authorized		16,572,792	[1]	100,000,000
Preferred Shares Issued		14,376,272	[1]	0
Liquidation Preference		$ 196,528
Carrying Value (2) Share Capital	[2]	$ 353,300
Shares Outstanding		14,376,272	[1]	0
Series A Preferred Stock [Member]
Temporary Equity [Line Items]
Par Value		$ 0.001
Date of Issuance		Feb. 29, 2000
Common stock par or stated value per share		$ 40.81
Shares Authorized	[1]	355,921
Preferred Shares Issued	[1]	355,903
Liquidation Preference		$ 14,523
Carrying Value (2) Share Capital	[2]	$ 13,535
Shares Outstanding	[1]	355,903
Series B Preferred Stock [Member]
Temporary Equity [Line Items]
Par Value		$ 0.001
Date of Issuance		May 31, 2003
Common stock par or stated value per share		$ 9.07
Shares Authorized	[1]	1,741,452
Preferred Shares Issued	[1]	1,741,399
Liquidation Preference		$ 15,795
Carrying Value (2) Share Capital	[2]	$ 39,715
Shares Outstanding	[1]	1,741,399
Series C Preferred Stock [Member]
Temporary Equity [Line Items]
Par Value		$ 0.001
Date of Issuance		Feb. 28, 2000
Common stock par or stated value per share		$ 12.92
Shares Authorized	[1]	1,168,344
Preferred Shares Issued	[1]	1,168,311
Liquidation Preference		$ 15,086
Carrying Value (2) Share Capital	[2]	$ 28,136
Shares Outstanding	[1]	1,168,311
Series D Preferred Stock [Member]
Temporary Equity [Line Items]
Par Value		$ 0.001
Date of Issuance		Aug. 31, 2009
Common stock par or stated value per share		$ 18.08
Shares Authorized	[1]	663,808
Preferred Shares Issued	[1]	663,728
Liquidation Preference		$ 12,000
Carrying Value (2) Share Capital	[2]	$ 18,503
Shares Outstanding	[1]	663,728
Series E Preferred Stock [Member]
Temporary Equity [Line Items]
Par Value		$ 0.001
Date of Issuance		Oct. 31, 2011
Common stock par or stated value per share		$ 20.66
Shares Authorized	[1]	353,339
Preferred Shares Issued	[1]	353,327
Liquidation Preference		$ 7,300
Carrying Value (2) Share Capital	[2]	$ 10,350
Shares Outstanding	[1]	353,327
Series F Preferred Stock [Member]
Temporary Equity [Line Items]
Par Value		$ 0.001
Date of Issuance		May 31, 2012
Common stock par or stated value per share		$ 25.83
Shares Authorized	[1]	507,744
Preferred Shares Issued	[1]	499,159
Liquidation Preference		$ 12,891
Carrying Value (2) Share Capital	[2]	$ 18,305
Shares Outstanding	[1]	499,159
Series G Preferred Stock [Member]
Temporary Equity [Line Items]
Par Value		$ 0.001
Date of Issuance		Jun. 30, 2015
Common stock par or stated value per share		$ 12.40
Shares Authorized	[1]	5,832,685
Preferred Shares Issued	[1]	5,788,878
Liquidation Preference		$ 71,759
Carrying Value (2) Share Capital	[2]	$ 135,682
Shares Outstanding	[1]	5,788,878
Series H Preferred Stock [Member]
Temporary Equity [Line Items]
Par Value		$ 0.001
Date of Issuance		Feb. 28, 2017
Common stock par or stated value per share		$ 12.40
Shares Authorized	[1]	5,949,499
Preferred Shares Issued	[1]	3,805,567
Liquidation Preference		$ 47,174
Carrying Value (2) Share Capital	[2]	$ 89,074
Shares Outstanding	[1]	3,805,567
[1]	The shares authorized, issued and outstanding do not reflect any anti-dilution provisions of Series C, Series D, Series E and Series F as a result of the Series G financing.
[2]	The carrying value reflects the gross proceeds received from the sale of the preferred stock less issuance costs and the fair value at issuance of preferred stock warrants classified as a liability, plus accretion of redemption value.

Convertible Preferred Stock a_4

Convertible Preferred Stock and Stockholders' Deficit - Additional Information (Details)	9 Months Ended
	Sep. 30, 2021
Common Stock [Member]
Class Of Stock [Line Items]
Common stock, voting rights	one

Convertible Preferred Stock a_5

Convertible Preferred Stock and Stockholders' Deficit - Summary of Common Stock Reserved for Future Issuance (Details) - shares	Sep. 30, 2021	Dec. 31, 2020
Class Of Stock [Line Items]
Conversion of preferred stock	6,111,841	19,278,888
Convertible Preferred Stock [Member]
Class Of Stock [Line Items]
Conversion of preferred stock		14,851,007
Preferred Stock Warrants
Class Of Stock [Line Items]
Conversion of preferred stock		225,945
Common Stock Warrant [Member]
Class Of Stock [Line Items]
Conversion of preferred stock		1
2006 and 2015 Plans [Member]
Class Of Stock [Line Items]
Conversion of preferred stock	5,454,112	4,201,935
Restricted Stock Units [Member]
Class Of Stock [Line Items]
Conversion of preferred stock	657,729

Stock-Based Compensation Expe_3

Stock-Based Compensation Expense - Additional Information (Details) - USD ($) $ in Millions	Aug. 03, 2021	Jul. 30, 2021	Jul. 28, 2021	Sep. 30, 2021	Dec. 31, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock issued (in shares)				27,324,054
Shares reserved for future issuance				6,111,841	19,278,888
Executive Officers and Non-Employee Directors [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period		640,567
The Calhoun Vision, Inc. 2015 Equity Incentive Plan and the Calhoun Vision, Inc. 2006 Stock Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Intrinsic Value of Vested Options				$ 17.9	$ 26.2
Intrinsic Value of Outstanding Options				18	26.4
Total Cash Received from the Exercise of Stock Options				1.4	1
Total Fair Value Less Strike Price of Stock Options Exercised				$ 3.6	$ 2.7
Unvested at September 30, 2021				2,270,175	1,177,165
Total unrecognized expense related to unvested stock options				$ 19.7	$ 9.8
Weighted average period for recognition of expenses				3 years 1 month 6 days	2 years 10 months 24 days
2021 Equity Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock available for issuance			2,420,135
Common stock issued (in shares)			7,260,406
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Outstanding Stock Maximum			4.00%
Total unrecognized expense related to unvested stock options				$ 9.8
Weighted average period for recognition of expenses				3 years 8 months 12 days
2021 Equity Incentive Plan | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares reserved for future issuance			4,569,530
2021 Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock available for issuance			484,027
Shares reserved for future issuance			1,452,081
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Outstanding Stock Maximum			1.00%
2021 Employee Stock Purchase Plan | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Outstanding Stock Maximum			85.00%
Share-based Compensation, Option [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-Based Compensation, Terms of Award				Stock option awards are generally granted with an exercise price of no less than 100% of estimated fair market value on the date of grant. Time based awards generally vest over four years as follows: one fourth of the total number of shares vest and become exercisable on the one-year anniversary; 1/48th of the total number of shares subject to the option vest and become exercisable on each monthly anniversary thereafter for the remaining three years.
Stock-Based Compensation, Vesting period				4 years
Share-based Compensation, Option [Member] | Executive Officers and Non-Employee Directors [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period		622,990
Restricted Stock Units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares reserved for future issuance				657,729
Unvested at September 30, 2021				657,729
Restricted Stock Units (RSUs) [Member] | Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-Based Compensation, Vesting period		1 year
Restricted Stock Units (RSUs) [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-Based Compensation, Vesting period		4 years
Restricted Stock Units (RSUs) [Member] | Non-Employee Directors [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period	40,134
Restricted Stock Units (RSUs) [Member] | Executive Officers and Non-Employee Directors [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period		17,577

Stock-Based Compensation Expe_4

Stock-Based Compensation Expense - Summary of Stock Option Activities (Details) - The Calhoun Vision, Inc. 2015 Equity Incentive Plan and the Calhoun Vision, Inc. 2006 Stock Plan [Member]	9 Months Ended	12 Months Ended
	Sep. 30, 2021$ / sharesshares	Dec. 31, 2020$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Options, Beginning balance | shares	4,201,935
Number of Options, Granted | shares	1,652,751
Number of Options, Exercised | shares	(321,812)
Number of Options, Forfeited | shares	(61,053)
Number of Options, Expired | shares	(17,709)
Number of Options, Ending balance | shares	5,454,112	4,201,935
Number of Options, Exercisable | shares	3,174,863
Weighted-Average Exercise Price, Beginning balance	$ 9.57
Weighted-Average Exercise Price, Options Granted	15.51
Weighted-Average Exercise Price, Options Exercised	4.28
Weighted-Average Exercise Price, Options Forfeited	19.47
Weighted-Average Exercise Price, Ending balance	11.59	$ 9.57
Weighted-Average Exercise Price, Exercisable	8.76
Weighted Average Grant Date Fair Value, Options Granted	8.94
Weighted Average Grant Date Fair Value, Options Exercised	2.12
Weighted Average Grant Date Fair Value, Options Forfeited	$ 10.51
Weighted-Average Remaining Contractual Term (Years), Options outstanding	6 years 11 months 19 days	6 years 5 months 15 days
Weighted-Average Remaining Contractual Term (Years), Exercisable	5 years 4 months 6 days

Stock-Based Compensation Expe_5

Stock-Based Compensation Expense - Summary of Non-Vested Restricted Stock Unit Activities (Details) - Restricted Stock Units (RSUs) [Member]	9 Months Ended
	Sep. 30, 2021$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Options, Granted | shares	657,729
Unvested at September 30, 2021 | shares	657,729
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value | $ / shares	$ 15.46
Share-based Compensation Arrangement by Share-based Payment Award, Option, Nonvested, Weighted Average Exercise Price | $ / shares	$ 15.46

Stock-Based Compensation Expe_6

Stock-Based Compensation Expense - Schedule of Stock-Based Compensation Expense (Details) - The Calhoun Vision, Inc. 2015 Equity Incentive Plan and the Calhoun Vision, Inc. 2006 Stock Plan [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	$ 2,013	$ 1,242	$ 4,658	$ 2,948
Research and Development
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	623	626	1,760	1,541
Selling, General and Administrative
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	1,168	430	2,317	953
Cost of Goods Sold
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	$ 222	$ 185	$ 581	$ 454

Stock-Based Compensation Expe_7

Stock-Based Compensation Expense - Schedule of Range and Weighted-average Assumptions Used in Black-Scholes Option Pricing Model to Determine the Fair Value of Stock Options (Details)	9 Months Ended
	Sep. 30, 2021$ / shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility, Minimum	62.30%
Expected volatility, Maximum	63.70%
Risk-free interest rate, Minimum	0.60%
Risk-free interest rate, Maximum	1.60%
Expected dividend yield	0.00%
Expected volatility, Weighted Average	63.30%
Risk-free interest rate, Weighted Average	1.00%
Expected life (in years), Weighted Average	6 years
Expected dividend yield, Weighted Average	0.00%
Grant date fair value, Weighted Average	$ 15.51
Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected life (in years)	10 years
Grant date fair value	$ 19.94
Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected life (in years)	5 years 6 months 7 days
Grant date fair value	$ 12.54

Leases - Additional Information

Leases - Additional Information (Details) - California [Member]	9 Months Ended
	Sep. 30, 2021USD ($)ft²Item	Dec. 31, 2020Item
Lessee Lease Description [Line Items]
Operating leases,tenant allowance | $	$ 900,000
Office, Manufacturing and Warehouse Facility [Member]
Lessee Lease Description [Line Items]
Number of leases | Item	3	3
Office [Member]
Lessee Lease Description [Line Items]
Area of leased space	19,680
Lease expiration date	Jun. 30, 2023
Manufacturing [Member]
Lessee Lease Description [Line Items]
Area of leased space	42,106
Lease expiration date	Sep. 30, 2024
Warehouse [Member]
Lessee Lease Description [Line Items]
Area of leased space	48,036
Lease expiration date	Jan. 31, 2026

Leases - Summary of Lease Balan

Leases - Summary of Lease Balances Sheet Information (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Assets
Operating leases right-of-use assets	$ 4,561	$ 5,319
Assets Finance	38	58
Total lease assets	4,599	5,377
Current liabilities:
Liabilities Current Operating	1,449	1,247
Liabilities Current Finance	20	27
Noncurrent
Liabilities Noncurrent Operating	4,011	5,042
Liabilities Noncurrent Finance	22	37
Total lease liabilities	$ 5,502	$ 6,353

Leases - Schedule of Components

Leases - Schedule of Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Lessee Lease Description [Line Items]
Finance lease cost	$ 1	$ 3	$ 4	$ 12
Cost of Goods Sold
Lessee Lease Description [Line Items]
Operating lease cost	3	3	10	10
Research and Development
Lessee Lease Description [Line Items]
Operating lease cost	64	47	222	110
Finance lease cost	0	32	0	115
Selling, General and Administrative
Lessee Lease Description [Line Items]
Operating lease cost	402	418	1,205	1,138
Finance lease cost	$ 5	$ 10	$ 20	$ 36

Leases - Schedule of Maturities

Leases - Schedule of Maturities of Lease Liabilites (Details) $ in Thousands	Sep. 30, 2021USD ($)
Operating Leases
2021 (remainder)	$ 484
2022	1,955
2023	1,683
2024	1,456
2025	951
2026	79
Total lease payments	6,608
Less: imputed interest	1,148
Total lease liabilities	5,460
Finance Leases
2021 (remainder)	6
2022	23
2023	18
2024	0
2025	0
2026	0
Total lease payments	47
Less: imputed interest	5
Total lease liabilities	$ 42

Leases - Summary of Weighted Av

Leases - Summary of Weighted Average Remaining Lease Term and Discount Rate (Details)	Sep. 30, 2021	Dec. 31, 2020
Weigted average remaining lease term (years)
Weighted average remaining lease term - operating leases	3 years 6 months 10 days	4 years 2 months 15 days
Weighted average remaining lease term - finance leases	1 year 11 months 12 days	2 years 5 months 1 day
Weighted average discount rate
Weighted average discount rate - operating leases (as a percent)	10.50%	10.50%
Weighted average discount rate - finance leases (as a percent)	10.50%	10.50%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Commitments And Contingencies Disclosure [Abstract]
Legal proceedings, regulatory matters, legal costs	$ 0	$ 0