v3.25.4
STOCK BASED COMPENSATION EXPENSE (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2025
Dec. 31, 2024
STOCK BASED COMPENSATION EXPENSE    
Summary of RSUs subject to time-based vesting

RSUs

  ​ ​ ​

Number of Shares

  ​ ​ ​

Weighted Average
Grant Date
Fair Value

Non-vested as of January 1, 2025

$

Granted

1,528,030

7.18

Vested

(173,781)

7.46

Forfeited

(38,819)

7.46

Non-vested as of September 30, 2025

1,315,430

$

7.13

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

September 30, 

2024

Dividend yield

  ​ ​ ​

Expected term

 

5.0 - 6.1 years

Risk-free interest rates

1.0% - 4.5%

Expected volatility

54.9% - 66.4%

December 31, 

2024

Dividend yield

  ​ ​ ​

Expected term

 

5.0 - 6.1 years

Risk-free interest rates

1.0% - 4.5%

Expected volatility

54.9% - 66.4%

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

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

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

 

(1,742)

330.95

 

  ​

 

 

  ​

Forfeited

(25,625)

4.49

Exercised

 

(100,274)

1.56

 

  ​

 

 

  ​

Balance, September 30, 2025

 

5,856,563

$

2.98

 

  ​

 

7.25

$

5,739,432

Vested and Exercisable, September 30, 2025

 

5,502,559

$

3.07

 

  ​

 

7.16

$

5,392,508

Vested and Expected to Vest, September 30, 2025

 

5,856,563

$

2.98

 

  ​

 

7.25

$

5,739,432

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

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, 2023

 

8,512,225

$

3.75

 

  ​

 

9.58

 

  ​

Forfeited

 

 

  ​

Solely Time-based Vesting

(17,506)

Performance Conditioned Vesting

(7,533,334)

3.00

Total Options Forfeited

(7,550,840)

3.00

Expired

 

(6,510)

49.83

 

  ​

 

  ​

 

  ​

Exercised

 

(6,411)

0.53

 

  ​

 

  ​

 

  ​

Balance, December 31, 2023

 

948,464

$

6.20

 

  ​

 

7.25

 

  ​

Vested and Exercisable, December 31, 2023

 

937,592

$

6.26

 

  ​

 

7.24

 

  ​

Vested and Expected to Vest, December 31, 2023

 

948,464

$

6.20

 

  ​

 

7.25

 

  ​

Granted

 

5,059,228

2.57

$

1.50

 

 

Forfeited

 

(6,769)

2.57

 

  ​

 

 

  ​

Expired

 

(1,878)

348.07

 

  ​

 

 

  ​

Exercised

 

(14,841)

2.29

 

  ​

 

 

  ​

Balance, December 31, 2024

 

5,984,204

$

3.04

 

  ​

 

8.00

$

81,519,660

Vested and Exercisable, December 31, 2024

 

5,554,326

$

3.07

 

  ​

 

7.91

$

75,783,094

Vested and Expected to Vest, December 31, 2024

 

5,984,204

$

3.04

 

  ​

 

8.00

$

81,519,660

Summary of stock-based compensation expense

Three Months Ended September 30, 

Nine Months Ended September 30, 

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2025

  ​ ​ ​

2024

Cost of goods sold

$

26

$

$

58

$

115

Research and development

 

141

18

318

729

Sales and marketing

 

773

29

 

1,582

 

2,597

General and administrative

1,424

4

 

3,234

3,960

Total stock-based compensation expense

 

$

2,364

$

51

$

5,192

$

7,401

Year Ended December 31, 

  ​ ​ ​

2024

  ​ ​ ​

2023

Cost of goods sold

$

130

$

Research and development

 

802

Sales and marketing

 

 

2,808

 

1

General and administrative

 

3,995

Total stock-based compensation expense

 

$

7,735

$

1