v3.25.4
Stockholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Summary of Stock Options Valuation Assumptions The following table summarizes the weighted-average grant date value of options and the assumptions used to develop their fair value.

 

 

 

Year ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Weighted-average grant date fair value of options

 

$

4.06

 

 

$

4.38

 

 

$

6.55

 

Risk-free interest rate

 

3.59% - 4.10%

 

 

4.10% - 4.30%

 

 

3.65% - 4.30%

 

Expected volatility

 

67.77% - 69.21%

 

 

64.53% - 70.56%

 

 

65.02% - 66.56%

 

Expected life in years

 

5.30 - 6.09 years

 

 

5.21 - 6.10 years

 

 

6.06 - 6.11 years

 
Summary of Changes in Stock Options Activity

Stock option activity for the year ended December 31, 2025 was as follows:

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

 

Outstanding

 

 

Weighted-Average Exercise Price

 

 

Aggregate Intrinsic Value

 

Balance as of December 31, 2024

 

 

4,684

 

 

$

8.25

 

 

$

8,311

 

Options granted

 

 

1,013

 

 

 

6.29

 

 

 

0

 

Exercised

 

 

(1,503

)

 

 

2.41

 

 

 

4,666

 

Plan shares expired or canceled

 

 

(1,128

)

 

 

16.66

 

 

 

9

 

Balance as of December 31, 2025

 

 

3,066

 

 

$

7.37

 

 

$

1,173

 

Vested and expected to vest

 

 

2,645

 

 

$

7.32

 

 

$

1,173

 

Exercisable as of December 31, 2025

 

 

1,771

 

 

$

7.81

 

 

$

1,173

 
Summary of RSU Table

Restricted stock unit activity for the year ended December 31, 2025 was as follows:

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

 

Outstanding

 

 

Grant Date Fair Value

 

 

Aggregate Intrinsic Value

 

Balance as of December 31, 2024

 

 

5,744

 

 

$

11.57

 

 

$

35,152

 

Granted – restricted stock units

 

 

3,231

 

 

 

5.92

 

 

 

19,138

 

Canceled

 

 

(1,671

)

 

 

11.30

 

 

 

8,907

 

Vested and converted to shares

 

 

(1,786

)

 

 

14.16

 

 

 

9,471

 

Balance as of December 31, 2025

 

 

5,518

 

 

$

7.50

 

 

$

22,732

 

Vested and expected to vest

 

 

4,198

 

 

$

7.65

 

 

$

17,296

 

 

Market-based and performance-based restricted stock unit activity for the year ended December 31, 2025 was as follows:

 

(in thousands)

 

Outstanding

 

 

Grant Date Fair Value

 

 

Aggregate Intrinsic Value

 

Balance as of December 31, 2024

 

 

396

 

 

$

7.90

 

 

$

2,281

 

Granted – market-based and performance-based restricted stock units

 

 

765

 

 

 

6.89

 

 

 

3,152

 

Canceled

 

 

(187

)

 

 

8.76

 

 

 

770

 

Vested and converted to shares

 

 

(163

)

 

 

7.09

 

 

 

1,157

 

Balance as of December 31, 2025

 

 

811

 

 

$

7.22

 

 

$

3,341

 

Vested and expected to vest

 

 

482

 

 

$

7.34

 

 

$

1,988

 
Summary of Market-based Awards Valuation Assumptions Significant assumptions used in the Monte Carlo simulation model for the market-based awards granted are as follows:

 

 

 

Year ended December 31,

 

 

2025

Volatility

 

64.59%

Risk-free interest rate

 

3.63%

Dividend yield

 

0.00%