v3.25.1
Stock-based Compensation (Tables)
 3 Months Ended
Mar. 31, 2025
Schedule of Stock Options Activity

A summary of the Company’s stock option activity, for the three months ended March 31, 2025, was as follows:

 

 

 

Number of
Options

 

 

Weighted-
Average
Exercise Price

 

 

Weighted-
Average
Remaining
Contractual
Life (Years)

 

 

Aggregate
Intrinsic Value
(in thousands)

 

Outstanding as of December 31, 2024

 

 

2,370,672

 

 

$

2.81

 

 

 

4.75

 

 

$

6,055

 

Granted

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Exercised

 

 

(273

)

 

 

2.73

 

 

 

—

 

 

 

—

 

Forfeited

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Outstanding as of March 31, 2025

 

 

2,370,399

 

 

$

2.81

 

 

 

4.51

 

 

$

11,058

 

Vested and exercisable as of March 31, 2025

 

 

2,339,779

 

 

$

2.65

 

 

 

4.47

 

 

$

11,058

 

Vested and expected to vest as of March 31, 2025

 

 

2,370,399

 

 

$

2.81

 

 

 

4.51

 

 

$

11,058

 
Schedule of Restricted Stock Activity

The following table summarizes the Company's RSU activity (excluding PBRSUs) for the three months ended March 31, 2025:

 

 

 

Shares

 

 

Weighted Average
Grant Date
Fair Value
per Share

 

Outstanding as of December 31, 2024

 

 

6,549,869

 

 

$

5.48

 

Granted

 

 

271,682

 

 

 

6.38

 

Released

 

 

(860,709

)

 

 

6.98

 

Forfeited

 

 

(555,926

)

 

 

5.14

 

Outstanding as of March 31, 2025

 

 

5,404,916

 

 

$

5.32

 

 
Schedule of Fair Value Weighted-Average Assumptions The Company estimated the fair value of the market-based PBRSUs award on the grant date using the Monte Carlo simulation model with the following assumptions:

 

 

 

 

Expected term (years)

 

0.5 - 4.7

 

Expected volatility

 

 

70.9

%

Risk-free interest rate

 

 

3.29

%

Dividend yield

 

 

0

%

Share price

 

$

5.10

 
Summary of Stock-Based Compensation Expense

Total stock-based compensation expense by function was as follows (in thousands):

 

 

 

Three Months Ended March 31,

 

 

 

2025

 

 

2024

 

Cost of revenue

 

$

31

 

 

$

102

 

Research and development expenses

 

 

2,977

 

 

 

3,989

 

General and administrative expenses

 

 

1,376

 

 

 

907

 

Sales and marketing expenses

 

 

180

 

 

 

263

 

Total

 

$

4,564

 

 

$

5,261