Stockholders' Equity (Tables)
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6 Months Ended |
Jun. 30, 2025 |
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| Stockholders Equity Note [Abstract] |
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| Summary of Stock Option Activity |
A summary of stock option activity under the Company’s current equity incentive plans during the six month period ended June 30, 2025, was as follows:
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Stock Options Outstanding |
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Number of
Underlying Shares |
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Weighted
Average
Exercise
Price |
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Weighted
Average
Remaining
Contractual
Life (in years) |
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Aggregate
Intrinsic
Value |
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Outstanding on January 1, 2025 |
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1,140,550 |
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$ |
2.49 |
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|
3.85 |
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$ |
1,019,680 |
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Granted |
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- |
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$ |
- |
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- |
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- |
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Forfeited / Canceled |
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(23,000 |
) |
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$ |
3.09 |
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- |
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15,880 |
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Exercised |
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(481,259 |
) |
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$ |
2.08 |
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- |
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$ |
707,690 |
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Outstanding on June 30, 2025 |
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636,291 |
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$ |
2.78 |
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5.86 |
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$ |
508,820 |
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Exercisable as of June 30, 2025 |
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436,291 |
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$ |
2.70 |
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|
4.91 |
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$ |
388,820 |
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| Schedule of Grant Date Fair Value of Options Vested and the Intrinsic Value of Options Exercised |
The following table presents the grant date fair value of options vested and the intrinsic value of options exercised:
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For the Six Months Ended June 30, |
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2025 |
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2024 |
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Grant date fair value of options vested |
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$ |
688,212 |
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$ |
1,043,083 |
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Intrinsic value of options exercised |
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$ |
479,040 |
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$ |
132,058 |
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| Schedule of RSU Activity |
The Company’s RSU activity for the six months ended June 30, 2025, was as follows:
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Restricted Stock Units |
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Number of
Underlying Shares |
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Weighted
Average Grant
Date Fair Value |
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Unvested on January 1, 2025 |
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1,128,427 |
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$ |
3.04 |
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Granted |
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653,539 |
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$ |
3.83 |
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Vested |
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(388,442 |
) |
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$ |
2.54 |
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Canceled |
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(7,764 |
) |
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$ |
3.25 |
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Unvested on June 30, 2025 |
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1,385,760 |
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$ |
3.16 |
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| Summary of Stock-Based Compensation Expense |
Stock-based compensation expense for the three and six month periods ended June 30, 2025 and 2024, was comprised of the following:
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For the Three Months Ended June 30, |
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For the Six Months Ended June 30, |
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Stock-based compensation classified as: |
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2025 |
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2024 |
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2025 |
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2024 |
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General and administrative |
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$ |
355,751 |
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$ |
367,592 |
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$ |
798,153 |
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$ |
586,726 |
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Production |
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21,906 |
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58,053 |
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43,327 |
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116,106 |
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Marketing and selling |
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41,414 |
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23,786 |
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80,859 |
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47,572 |
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Product and programs |
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47,898 |
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51,357 |
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100,223 |
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102,714 |
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Research and development |
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48,805 |
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56,410 |
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105,773 |
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|
112,820 |
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$ |
515,774 |
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$ |
557,198 |
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$ |
1,128,335 |
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$ |
965,938 |
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