v3.25.2
Stock-based Compensation (Tables)
 6 Months Ended
Jun. 30, 2025
Schedule of Stock Options Activity

A summary of the Company’s stock option activity, for the six months ended June 30, 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

 

Exercised

 

 

(50,661

)

 

 

2.34

 

 

 

—

 

 

 

—

 

Forfeited

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Outstanding as of June 30, 2025

 

 

2,320,011

 

 

$

2.82

 

 

 

4.27

 

 

$

81,138

 

Vested and exercisable as of June 30, 2025

 

 

2,298,577

 

 

$

2.71

 

 

 

4.24

 

 

$

80,642

 

Vested and expected to vest as of June 30, 2025

 

 

2,320,011

 

 

$

2.82

 

 

 

4.27

 

 

$

81,138

 
Schedule of Restricted Stock Activity

The following table summarizes the Company's RSU activity (excluding PBRSUs) for the six months ended June 30, 2025:

 

 

 

Shares

 

 

Weighted Average
Grant Date
Fair Value
per Share

 

Outstanding as of December 31, 2024

 

 

6,549,869

 

 

$

5.48

 

Granted

 

 

4,478,199

 

 

 

7.58

 

Released

 

 

(1,339,219

)

 

 

6.67

 

Forfeited

 

 

(1,017,682

)

 

 

5.80

 

Outstanding as of June 30, 2025

 

 

8,671,167

 

 

$

6.35

 
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:

 

 

June 30, 2025

 

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 June 30,

 

 

Six Months Ended June 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Cost of revenue

 

$

32

 

 

$

64

 

 

$

63

 

 

$

166

 

Research and development expenses

 

 

3,434

 

 

 

4,189

 

 

 

6,411

 

 

 

8,178

 

General and administrative expenses

 

 

2,349

 

 

 

913

 

 

 

3,725

 

 

 

1,820

 

Selling and marketing expenses

 

 

209

 

 

 

198

 

 

 

389

 

 

 

461

 

Total

 

$

6,024

 

 

$

5,364

 

 

$

10,588

 

 

$

10,625