v3.25.1
Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2025
Stock-Based Compensation  
Schedule of assumptions used in the fair value estimation of each option grant

March 31, 

    

2025

    

2024

    

    

Expected life (years)

3.7 - 4.8

3.8 - 4.9

Risk-free interest rate

 

4.0% - 4.0%

4.3% - 4.4%

 

Volatility

82.9% - 82.9%

69.5% - 69.5%

Dividend yield

 

0%

0%

 

Schedule of stock-based compensation expense related to all of our share-based payment awards

Total stock-based compensation expense related to all of our share-based payment awards is comprised of the following (in thousands):

Three Months Ended March 31, 

    

2025

    

2024

    

Cost of revenue

$

541

$

608

Selling, general and administrative

 

2,330

3,649

Engineering and development

 

193

409

$

3,064

$

4,666

Schedule of stock option activity

Weighted-

Weighted-

Average

Average

Remaining

Aggregate

Number of

Exercise

Contractual

Intrinsic

    

Shares

    

Price/Share

    

Term (Years)

    

Value (1)

Outstanding — December 31, 2024

6,802,474

$

16.38

Granted (weighted-average fair value of $4.15 per share)

304,775

6.71

Exercised

 

(887)

 

3.15

 

Forfeited

(134,830)

22.14

Outstanding — March 31, 2025

 

6,971,532

$

15.85

 

3.5

$

3,962

Vested (exercisable) — March 31, 2025

 

6,223,071

$

15.95

 

3.2

$

3,962

Expected to vest after March 31, 2025 (unexercisable)

 

748,461

$

14.95

 

6.0

$

(1)Aggregate intrinsic value represents the difference between the exercise price of the option and the closing market price of the Company’s common stock on March 31, 2025 (the last trading day of the quarter), which was $6.08 per share.
Schedule of restricted stock unit activity

    

    

Weighted Average

Number of Restricted

Fair Value per

Stock Units

Share

Outstanding — December 31, 2024

 

1,039,091

$

21.75

Granted

 

462,110

 

6.41

Share issuance

 

(228,077)

 

31.08

Forfeited

 

(40,866)

 

17.26

Outstanding — March 31, 2025

 

1,232,258

$

14.21