Stock-Based Compensation (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Share-Based Payment Arrangement [Abstract] |
|
| Schedule of Stock Options Activity |
The following summarizes the Company's stock option activity for the years ended December 31, 2025 and 2024:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options Outstanding |
|
|
Weighted-Average |
|
|
|
|
|
|
|
|
|
Weighted Average |
|
|
Remaining |
|
|
Aggregate Intrinsic |
|
|
|
|
|
|
Exercise Price |
|
|
Contractual Term |
|
|
Value |
|
|
|
Number of Shares |
|
|
(Per share) |
|
|
(In years) |
|
|
(In thousands) |
|
Outstanding – December 31, 2023 |
|
|
2,845,084 |
|
|
$ |
9.82 |
|
|
|
7.2 |
|
|
$ |
91 |
|
Granted |
|
|
555,000 |
|
|
1.77 |
|
|
|
|
|
|
|
Exercised |
|
|
(203,480 |
) |
|
0.64 |
|
|
|
|
|
703 |
|
Forfeited or expired |
|
|
(1,799,647 |
) |
|
10.93 |
|
|
|
|
|
|
|
Outstanding – December 31, 2024 |
|
|
1,396,957 |
|
|
$ |
1.88 |
|
|
|
7.5 |
|
|
$ |
14,519 |
|
Granted |
|
|
81,667 |
|
|
|
7.20 |
|
|
|
|
|
|
|
Exercised |
|
|
(57,447 |
) |
|
|
1.30 |
|
|
|
|
|
|
|
Forfeited or expired |
|
|
(220,609 |
) |
|
|
1.60 |
|
|
|
|
|
|
|
Outstanding – December 31, 2025 |
|
|
1,200,568 |
|
|
$ |
2.32 |
|
|
|
6.5 |
|
|
$ |
2,619 |
|
Exercisable – December 31, 2024 |
|
|
443,045 |
|
|
$ |
2.05 |
|
|
|
5.2 |
|
|
$ |
4,527 |
|
Exercisable – December 31, 2025 |
|
|
845,217 |
|
|
$ |
2.12 |
|
|
|
6.0 |
|
|
$ |
1,888 |
|
|
| Schedule of Fair Value of Option Grants |
The Company calculated the fair value of options granted under the 2021 Plan on the respective dates of grant using the following weighted average assumptions:
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
|
|
2025 |
|
|
2024 |
|
Options |
|
|
|
|
|
|
Risk-free interest rate |
|
|
3.87 |
% |
|
|
4.31 |
% |
Expected term (in years) |
|
3.4 |
|
|
5.89 |
|
Expected dividend yield |
|
|
— |
% |
|
|
— |
% |
Expected volatility |
|
|
106.42 |
% |
|
|
80.39 |
% |
|
| Summary of RSU and RSA Activity |
The following summarizes the Company's employee RSU activity for the years ended December 31, 2025 and 2024:
|
|
|
|
|
|
|
|
|
|
|
Restricted Stock Units Outstanding |
|
|
|
Number of Shares |
|
|
Weighted-Average Grant-Date Fair Value
(Per share) |
|
Outstanding – December 31, 2023 |
|
|
1,180,115 |
|
|
$ |
4.49 |
|
Granted |
|
|
1,544,319 |
|
|
|
1.00 |
|
Released |
|
|
(333,553 |
) |
|
|
3.99 |
|
Forfeited |
|
|
(933,600 |
) |
|
3.37 |
|
Outstanding – December 31, 2024 |
|
|
1,457,281 |
|
|
$ |
1.62 |
|
Granted |
|
|
1,051,902 |
|
|
|
6.30 |
|
Vested |
|
|
(740,156 |
) |
|
|
1.72 |
|
Forfeited |
|
|
(191,633 |
) |
|
|
4.29 |
|
Outstanding – December 31, 2025 |
|
|
1,577,394 |
|
|
$ |
4.34 |
|
Restricted Stock Awards The following summarizes the Company's employee RSA activity for the year ended December 31, 2025:
|
|
|
|
|
|
|
|
|
|
|
Restricted Stock Awards Outstanding |
|
|
|
Number of Shares |
|
|
Weighted-Average Grant-Date Fair Value
(Per share) |
|
Outstanding – December 31, 2023 |
|
|
— |
|
|
$ |
— |
|
Granted |
|
|
625,000 |
|
|
|
0.59 |
|
Outstanding – December 31, 2024 |
|
|
625,000 |
|
|
$ |
0.59 |
|
Granted |
|
|
1,500,000 |
|
|
|
2.23 |
|
Vested |
|
|
(625,000 |
) |
|
0.59 |
|
Outstanding – December 31, 2025 |
|
|
1,500,000 |
|
|
$ |
2.23 |
|
|
| Schedule of Stock Based Compensation Expense |
The Company recognized stock-based compensation expense in the consolidated statement of operations and comprehensive loss as follows:
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
(In thousands) |
|
2025 |
|
|
2024 |
|
Cost of revenue |
|
$ |
52 |
|
|
$ |
30 |
|
Research and development |
|
|
428 |
|
|
|
115 |
|
Sales and marketing |
|
|
701 |
|
|
|
604 |
|
General and administrative |
|
|
3,266 |
|
|
|
2,056 |
|
Total stock-based compensation expense |
|
$ |
4,447 |
|
|
$ |
2,805 |
|
|