v3.25.1
Stockholders' Equity (Tables)
 3 Months Ended
Mar. 31, 2025
Stockholders Equity Note [Abstract]  
Summary of Stock Option Activity

A summary of stock option activity under the Company’s current equity incentive plans during the three month period ended March 31, 2025, was as follows:

 

 

 

Stock Options Outstanding

 

 

 

Number of
Underlying Shares

 

 

Weighted
Average
Exercise
Price

 

 

Weighted
Average
Remaining
Contractual
Life (in years)

 

 

Aggregate
Intrinsic
Value

 

Outstanding on January 1, 2025

 

 

1,140,550

 

 

$

2.49

 

 

 

3.85

 

 

$

1,019,680

 

Granted

 

 

-

 

 

$

-

 

 

 

-

 

 

$

-

 

Forfeited / Canceled

 

 

-

 

 

$

-

 

 

 

-

 

 

$

-

 

Exercised

 

 

(174,862

)

 

$

2.13

 

 

 

-

 

 

$

33,748

 

Outstanding on March 31, 2025

 

 

965,688

 

 

$

2.55

 

 

 

4.21

 

 

$

153,045

 

Exercisable as of March 31, 2025

 

 

715,688

 

 

$

2.42

 

 

 

2.82

 

 

$

153,045

 
Schedule of Grant Date Fair Value of Options Vested and the Intrinsic Value of Options Exercised The following table presents the grant date fair value of options vested and the intrinsic value of options exercised:

 

 

 

For the Three Months Ended March 31,

 

 

 

2025

 

 

2024

 

Grant date fair value of options vested

 

$

931,460

 

 

$

852,061

 

Intrinsic value of options exercised

 

$

233,850

 

 

$

123,658

 

 

 

 

 

 

 
Schedule of RSU Activity

The Company’s RSU activity for the three months ended March 31, 2025, was as follows:

 

 

 

Restricted Stock Units

 

 

 

Number of
Underlying Shares

 

 

Weighted
Average Grant
Date Fair Value

 

Unvested on January 1, 2025

 

 

1,128,427

 

 

$

3.04

 

Granted

 

 

548,539

 

 

$

4.06

 

Vested

 

 

(336,633

)

 

$

2.48

 

Canceled

 

 

(684

)

 

$

2.76

 

Unvested on March 31, 2025

 

 

1,339,649

 

 

$

3.19

 
Summary of Stock-Based Compensation Expense

Stock-based compensation expense for the three month periods ended March 31, 2025 and 2024, was comprised of the following:

 

 

 

For the Three Months Ended March 31,

 

Stock-based compensation classified as:

 

2025

 

 

2024

 

General and administrative

 

$

442,402

 

 

$

219,134

 

Production

 

 

21,421

 

 

 

58,053

 

Marketing and selling

 

 

39,445

 

 

 

23,786

 

Product and programs

 

 

52,325

 

 

 

51,357

 

Research and development

 

 

56,968

 

 

 

56,410

 

 

 

$

612,561

 

 

$

408,740