v3.25.2
Stockholders' Equity (Tables)
 6 Months Ended
Jun. 30, 2025
Equity [Abstract]  
Summary of Stock Options Valuation Assumptions The following table summarizes the weighted-average grant date value of options and the assumptions used to develop their fair value.

 

 

 

Six months ended June 30,

 

 

 

2025

 

 

2024

 

Weighted-average grant date fair value of options

 

$

4.53

 

 

$

4.54

 

Risk-free interest rate

 

4.07% - 4.10%

 

 

 

4.10

%

Expected volatility

 

68.60% - 69.21%

 

 

 

64.53

%

Expected life in years

 

6.07 years

 

 

6.10 years

 
Summary of Changes in Stock Options Activity

(in thousands)

 

Outstanding

 

 

Weighted-Average Exercise Price

 

 

Aggregate Intrinsic Value

 

Balance as of December 31, 2024

 

 

4,684

 

 

$

8.25

 

 

$

8,311

 

Options granted

 

 

747

 

 

 

6.92

 

 

 

0

 

Exercised

 

 

(1,013

)

 

 

3.03

 

 

 

2,800

 

Plan shares expired or canceled

 

 

(719

)

 

 

18.07

 

 

 

5

 

Balance as of June 30, 2025

 

 

3,699

 

 

$

7.50

 

 

$

3,755

 

Vested and expected to vest

 

 

3,240

 

 

$

7.47

 

 

$

3,755

 

Exercisable as of June 30, 2025

 

 

2,241

 

 

$

7.48

 

 

$

3,755

 
Summary of RSU Table

Restricted stock unit activity for the six months ended June 30, 2025 was as follows:

 

(in thousands)

 

Outstanding

 

 

Grant Date Fair Value

 

 

Aggregate Intrinsic Value

 

Balance as of December 31, 2024

 

 

5,744

 

 

$

11.57

 

 

$

35,152

 

Granted – restricted stock units

 

 

1,893

 

 

 

6.63

 

 

 

12,553

 

Canceled

 

 

(862

)

 

 

13.20

 

 

 

5,145

 

Vested and converted to shares

 

 

(890

)

 

 

13.49

 

 

 

5,088

 

Balance as of June 30, 2025

 

 

5,885

 

 

$

9.45

 

 

$

29,423

 

Vested and expected to vest

 

 

4,516

 

 

$

9.85

 

 

$

22,580

 

 

Market-based and performance-based restricted stock unit activity for the six months ended June 30, 2025 was as follows:

 

(in thousands)

 

Outstanding

 

 

Grant Date Fair Value

 

 

Aggregate Intrinsic Value

 

Balance as of December 31, 2024

 

 

396

 

 

$

7.90

 

 

$

2,281

 

Granted – market-based and performance-based restricted stock units

 

 

765

 

 

 

6.89

 

 

 

3,825

 

Canceled

 

 

(119

)

 

 

8.07

 

 

 

685

 

Vested and converted to shares

 

 

(163

)

 

 

7.09

 

 

 

1,157

 

Balance as of June 30, 2025

 

 

879

 

 

$

7.34

 

 

$

4,395

 

Vested and expected to vest

 

 

629

 

 

$

7.21

 

 

$

3,145

 
Summary of Market-based Awards Valuation Assumptions Significant assumptions used in the Monte Carlo simulation model for the market-based restricted stock unit awards granted are as follows:

 

 

 

Six months ended June 30,

 

 

2025

 

2024

Volatility

 

64.59%

 

65.71%- 75.43%

Risk-free interest rate

 

3.63%

 

4.22% - 4.31%

Dividend yield

 

0.00%

 

0.00%