v3.25.1
Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Summary of Shares Available for Future Issuances

The table below summarizes the activity pursuant to the 2021 Plan, for the three months ended March 31, 2025, and the shares available for future issuances as of March 31, 2025 and December 31, 2024.

 

Shares Available for Future Issuance

 

Shares available as of December 31, 2024

 

16,856

 

Stock options issued, net

 

-

 

RSUs issued, net

 

(5,097

)

Shares available as of March 31, 2025

 

11,759

 

 

 

Summary of Stock Options Activity

The table below summarizes the activity related to stock options, pursuant to the 2018 Stock Plan and 2021 Plan, for the three months ended March 31, 2025.

 

Options Outstanding

 

 

Number of
Options

 

 

Weighted-
Average
Exercise Price
($ per share)

 

 

Weighted
Average
Remaining
Contractual
Life (years)

 

 

Aggregate
Intrinsic
Value

 

December 31, 2024

 

4,165

 

 

$

1.90

 

 

 

6.74

 

 

$

2,445

 

Granted

 

-

 

 

$

-

 

 

 

 

 

 

 

Exercised

 

-

 

 

$

-

 

 

 

 

 

 

 

March 31, 2025

 

4,165

 

 

$

1.90

 

 

 

6.50

 

 

$

1,414

 

Exercisable options as of March 31, 2025

 

2,743

 

 

$

1.25

 

 

 

5.47

 

 

$

1,414

 

 

Summary of Restricted Stock Units Activity

The table below summarizes the activity related to RSUs, pursuant to the 2018 Stock Plan and 2021 Plan, for the three months ended March 31, 2025.

 

Restricted Stock Units

 

Number of
Restricted Stock Units

 

 

Weighted
Average
Grant Date Fair Value (per share)

 

 

December 31, 2024

 

5,310

 

 

$

2.69

 

 

Granted

 

6,760

 

 

$

1.49

 

 

Vested or distributed

 

(906

)

 

$

3.52

 

 

Forfeited

 

(563

)

 

$

1.93

 

 

March 31, 2025

 

10,601

 

 

$

1.90

 

 

 

Summary of Activity Related to ESPP

The table below summarizes the activity related to the ESPP for the three months ended March 31, 2025.

ESPP Activity

Shares Available for Sale

 

December 31, 2024

 

7,109

 

Annual additions to the plan

 

1,920

 

Shares purchased

 

(140

)

March 31, 2025

 

8,889

 

 

 

Summary of Fair value of Stock Option Grants The fair value of stock option grants is estimated by the Company on the date of grant using the Black Scholes option pricing model with the following weighted-average assumptions for the three months ended March 31, 2025 and 2024.

 

For the three months ended March 31,

 

 

2025(1)

 

2024

 

Risk free interest

-

 

4.09%

 

Dividend yield

-

 

0.00%

 

Expected volatility

-

 

75.00%

 

Expected life (years)

-

 

 

6.25

 

(1) 2025 assumptions are not applicable as no options were granted during the three months ended March 31, 2025.

Summary of Stock-based Compensation Expense

The Company recorded stock-based compensation expense as follows.

 

For the three months ended March 31,

 

2025

 

 

2024

 

 

Cost of revenue

$

293

 

 

$

298

 

 

Research and development

 

1,172

 

 

 

961

 

 

Sales and marketing

 

228

 

 

 

131

 

 

General and administrative

 

1,143

 

 

 

1,891

 

 

Total

$

2,836

 

 

$

3,281