v3.25.2
STOCK BASED COMPENSATION EXPENSE (Tables)
6 Months Ended
Jun. 30, 2025
STOCK BASED COMPENSATION EXPENSE  
Summary of RSUs subject to time-based vesting

The following table summarizes the activity related to RSUs subject to time-based vesting requirements for the six months ended June 30, 2025:

RSUs

Number of Shares

Weighted Average Grant Date Fair Value

Non-vested as of January 1, 2025

0

$

0.00

Granted

1,338,811

7.46

Vested

(3,333)

7.46

Forfeited

(33,845)

7.46

Non-vested as of June 30, 2025

1,301,633

$

7.46

Summary of assumptions used to compute employee stockbased compensation under the BlackScholes option pricing model

There were no options granted during the three and six months ended June 30, 2025. The fair value of the stock options outstanding during the six months ended June 30, 2024 was estimated on the grant date using the Black-Scholes valuation model with the following assumptions:

June 30, 

2024

    

Dividend yield

    

Expected term

 

5.0 - 6.1 years

Risk-free interest rates

1.0% - 4.1%

Expected volatility

54.9% - 65.1%

Summary of the stock option plan and the changes during the period

A summary of the Company’s stock option plan and the changes during the period ended June 30, 2025 is presented below:

    

    

    

    

Weighted

    

Weighted

Weighted

Average

Number of

Average 

Average 

Remaining 

Aggregate 

Outstanding

Exercise 

Grant Date 

Contractual 

Intrinsic 

Options

Price

Fair Value

Years

Value

Balance, January 1, 2025

5,984,204

$

3.04

8.00

$

81,519,660

Expired

 

(1,426)

1.57

 

  

 

 

  

Exercised

 

(84,760)

330.00

 

  

 

 

  

Balance, June 30, 2025

 

5,898,018

$

2.98

 

  

 

7.50

$

17,569,554

Vested and Exercisable, June 30, 2025

 

5,502,559

$

3.07

 

  

 

7.41

$

16,893,855

Vested and Expected to Vest, June 30, 2025

 

5,898,018

$

2.98

 

  

 

7.50

$

17,569,554

Summary of stock-based compensation expense

Stock-based compensation included in the condensed consolidated statements of operations was as follows.

Three Months Ended June 30, 

Six Months Ended June 30, 

 

2025

    

2024

2025

    

2024

Cost of goods sold

$

25

$

$

32

$

115

Research and development

 

122

18

177

711

Sales and marketing

 

504

7

 

809

 

2,568

General and administrative

1,204

72

 

1,810

3,956

Total stock-based compensation expense

 

$

1,855

$

97

$

2,828

$

7,350