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 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