Stock-Based Compensation (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
| Summary of Shares Available for Future Issuances |
The table below summarizes the activity pursuant to the 2021 Plan, for the years ended December 31, 2025 and 2024, and the shares available for future issuances as of December 31, 2025 and 2024.
|
|
|
|
|
Shares Available for Future Issuance |
|
Shares available as of December 31, 2023 |
|
8,310 |
|
Additions to the plan |
|
8,900 |
|
Stock options forfeited |
|
3,152 |
|
Stock options issued |
|
(2,527 |
) |
RSUs forfeited |
|
643 |
|
RSUs settled for taxes |
|
1,263 |
|
RSUs issued |
|
(2,885 |
) |
Shares available as of December 31, 2024 |
|
16,856 |
|
Stock options forfeited |
|
1,095 |
|
RSUs forfeited |
|
3,768 |
|
RSUs settled for taxes |
|
552 |
|
RSUs issued |
|
(11,397 |
) |
Shares available as of December 31, 2025 |
|
10,874 |
|
|
| Summary of Stock Options Activity |
The table below summarizes the activity related to stock options, pursuant to the 2018 Stock Plan and 2021 Plan, for the years ended December 31, 2025 and 2024.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options Outstanding |
|
|
Number of
Options |
|
|
Weighted-
Average
Exercise Price
($ per share) |
|
|
Weighted
Average
Remaining
Contractual
Life (years) |
|
|
Aggregate
Intrinsic
Value |
|
December 31, 2023 |
|
9,158 |
|
|
$ |
1.21 |
|
|
|
6.81 |
|
|
$ |
18,112 |
|
Granted |
|
2,527 |
|
|
$ |
3.36 |
|
|
|
|
|
|
|
Exercised |
|
(4,543 |
) |
|
$ |
0.56 |
|
|
|
|
|
|
|
Forfeited |
|
(2,977 |
) |
|
$ |
3.08 |
|
|
|
|
|
|
|
December 31, 2024 |
|
4,165 |
|
|
$ |
1.90 |
|
|
|
6.74 |
|
|
$ |
2,445 |
|
Forfeited |
|
(1,093 |
) |
|
$ |
3.18 |
|
|
|
|
|
|
|
December 31, 2025 |
|
3,072 |
|
|
$ |
1.45 |
|
|
|
3.25 |
|
|
$ |
2,961 |
|
Exercisable options as of December 31, 2025 |
|
2,424 |
|
|
$ |
1.02 |
|
|
|
2.06 |
|
|
$ |
2,961 |
|
|
| Summary of Restricted Stock Units Activity |
The table below summarizes the activity related to RSUs, pursuant to the 2018 Stock Plan and 2021 Plan, for the years ended December 31, 2025 and 2024.
|
|
|
|
|
|
|
|
|
|
Restricted Stock Units |
|
Number of
Restricted Stock Units |
|
|
Weighted
Average
Grant Date Fair Value (per share) |
|
|
December 31, 2023 |
|
4,461 |
|
|
$ |
4.24 |
|
|
Granted |
|
4,314 |
|
|
$ |
2.43 |
|
|
Vested or distributed |
|
(2,261 |
) |
|
$ |
4.87 |
|
|
Forfeited |
|
(1,204 |
) |
|
$ |
3.44 |
|
|
December 31, 2024 |
|
5,310 |
|
|
$ |
2.69 |
|
|
Granted |
|
13,406 |
|
|
$ |
1.20 |
|
|
Vested or distributed |
|
(3,112 |
) |
|
$ |
2.29 |
|
|
Forfeited |
|
(5,558 |
) |
|
$ |
1.55 |
|
|
December 31, 2025 |
|
10,046 |
|
|
$ |
1.51 |
|
|
|
| Summary of Activity Related to ESPP |
The table below summarizes the activity related to the ESPP for the years ended December 31, 2025 and 2024.
|
|
|
|
|
Shares Available |
|
December 31, 2023 |
|
5,402 |
|
Annual additions to the plan |
|
2,000 |
|
Shares purchased |
|
(293 |
) |
December 31, 2024 |
|
7,109 |
|
Annual additions to the plan |
|
1,920 |
|
Shares purchased |
|
(268 |
) |
December 31, 2025 |
|
8,761 |
|
|
| Summary of Fair value of Stock Option Grants |
The fair value of stock option grants is estimated by the Company on the date of grant using the Black Scholes option pricingmodel with the following weighted-average assumptions for the years ended December 31, 2025, 2024 and 2023.
|
|
|
|
|
|
|
|
|
|
|
For the years ended December 31, |
|
|
2025(1) |
|
2024 |
|
|
2023 |
|
Risk free interest |
- |
|
|
4.09 |
% |
|
3.55% - 4.32% |
|
Dividend yield |
- |
|
|
0.00 |
% |
|
|
0.00 |
% |
Expected volatility |
- |
|
|
75.00 |
% |
|
|
75.00 |
% |
Expected life (years) |
- |
|
|
6.25 |
|
|
6.08 - 6.25 |
|
(1) 2025 assumptions are not applicable as no options were granted during the year ended December 31, 2025.
|
| Summary of Stock-based Compensation Expense |
The Company recorded stock-based compensation expense as follows.
|
|
|
|
|
|
|
|
|
|
|
|
|
For the years ended December 31, |
|
|
2025 |
|
|
2024 |
|
|
2023 |
|
Cost of revenue |
$ |
571 |
|
|
$ |
1,111 |
|
|
$ |
1,026 |
|
Research and development |
|
3,006 |
|
|
|
3,961 |
|
|
|
3,664 |
|
Sales and marketing |
|
566 |
|
|
|
700 |
|
|
|
635 |
|
General and administrative |
|
4,636 |
|
|
|
6,299 |
|
|
|
7,946 |
|
Total |
$ |
8,779 |
|
|
$ |
12,071 |
|
|
$ |
13,271 |
|
|
| 2025 Inducement Equity Incentive Plan |
|
| Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
| Summary of Shares Available for Future Issuances |
The table below summarizes the activity pursuant to the Inducement Plan, for the year ended December 31, 2025 and the shares available for future issuances as of December 31, 2025.
|
|
|
|
|
Shares Available for Future Issuance |
|
Shares available as of December 31, 2024 |
|
- |
|
Additions to the plan |
|
6,500 |
|
RSUs issued(1) |
|
(6,650 |
) |
RSUs forfeited |
|
6,431 |
|
Shares available as of December 31, 2025 |
|
6,281 |
|
(1) RSUs issued exceeds the total plan size as forfeited shares were re-issued during the year ended December 31, 2025.
|