Convertible Preferred Stock and Stockholders’ Equity (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Equity [Abstract] |
|
| Summary of Performance Award And Market Capitalization Milestones |
Summary of Performance Award And Market Capitalization Milestones
| Tranche # | |
No.
of Shares Subject
to PSU | | |
Market
Capitalization Milestones | |
| 1 | |
| 1,000,000 | | |
$ | 1,000,000,000 | |
| 2 | |
| 1,500,000 | | |
$ | 1,500,000,000 | |
| 3 | |
| 1,500,000 | | |
$ | 2,000,000,000 | |
| 4 | |
| 2,000,000 | | |
$ | 2,500,000,000 | |
| 5 | |
| 1,000,000 | | |
$ | 3,000,000,000 | |
| 6 | |
| 1,000,000 | | |
$ | 3,500,000,000 | |
| 7 | |
| 1,000,000 | | |
$ | 4,000,000,000 | |
| 8 | |
| 2,000,000 | | |
$ | 4,500,000,000 | |
| 9 | |
| 1,000,000 | | |
$ | 5,000,000,000 | |
| 10 | |
| 1,000,000 | | |
$ | 5,500,000,000 | |
| Total: | |
| 13,000,000 | | |
| | |
|
| Summary of Option and Stock Appreciation Rights Activity |
A
summary of the option and stock appreciation rights activity for the year ended December 31, 2025, is as follows:
Summary of Option and Stock Appreciation Rights Activity
| | |
Number of
Options/SARs | | |
Range of
Exercise Price | | |
Weighted
Average Exercise
Price per Share | |
| Outstanding, December 31, 2024 | |
| 3,858,360 | | |
| $0.74
- $9.20 | | |
$ | 3.79 | |
| Granted | |
| 677,000 | | |
| $1.60
- $2.38 | | |
| 1.63 | |
| Exercised | |
| (45,073 | ) | |
| $0.74
- $3.01 | | |
| 2.21 | |
| Forfeited | |
| (219,906 | ) | |
| $1.45
- $6.96 | | |
| 3.15 | |
| Outstanding, December 31, 2025 | |
| 4,270,381 | | |
| $0.74
- $9.20 | | |
$ | 3.49 | |
|
| Summary of Option and Stock Appreciation Rights Outstanding by Range of Exercise Price |
A
summary of the options and stock appreciation rights outstanding by range of exercise price is as follows:
Summary of Option and Stock Appreciation Rights Outstanding by Range of Exercise Price
| | |
Year Ended December 31, 2025 | |
| Range of Exercise Prices | |
Options Outstanding | | |
Weighted Average Remaining Life | | |
Weighted Average Exercise Price | | |
Number of Options Currently Exercisable | | |
Weighted Average Exercise Price Per
Vested Share | |
| $0.00 - $1.00 | |
| 231,708 | | |
| 2.20 | | |
$ | 0.74 | | |
| 231,708 | | |
$ | 0.74 | |
| $1.01 - $2.00 | |
| 720,974 | | |
| 9.07 | | |
$ | 1.63 | | |
| 53,050 | | |
$ | 1.69 | |
| $2.01 - $4.00 | |
| 1,580,432 | | |
| 6.51 | | |
$ | 2.58 | | |
| 1,074,209 | | |
$ | 2.46 | |
| $4.01 - $10.00 | |
| 1,737,267 | | |
| 5.17 | | |
$ | 5.48 | | |
| 1,717,819 | | |
$ | 5.48 | |
| | |
| 4,270,381 | | |
| 6.16 | | |
$ | 3.50 | | |
| 3,076,786 | | |
$ | 4.01 | |
|
| Summary of Restricted Stock Unit Activity |
A
summary of the restricted stock unit activity for the year ended December 31, 2025, is as follows:
Summary of Restricted Stock Unit Activity
| | |
Number of
Restricted Stock
Units | | |
Weighted Average
Grant Date Fair
Value per Unit | |
| Outstanding, December 31, 2024 | |
| 1,546,532 | | |
$ | 3.36 | |
| Granted | |
| 1,216,101 | | |
$ | 1.80 | |
| Vested | |
| (240,000 | ) | |
$ | 4.82 | |
| Forfeited | |
| (42,000 | ) | |
$ | 1.60 | |
| Outstanding, December 31, 2025 | |
| 2,480,633 | | |
$ | 2.49 | |
|
| Summary of Reserved Shares of Common Stock for Conversion |
The
Company has reserved shares of common stock for conversion of convertible preferred stock, estimated additional earnout shares to APT,
and the issuance of options granted under the Company’s stock option plan and its stock purchase plan as follows:
Summary
of Reserved Shares of Common Stock for Conversion
| | |
December 31, | | |
December 31, | |
| | |
2025 | | |
2024 | |
| Series A Convertible Preferred Stock | |
| 51,401,694 | | |
| 52,502,740 | |
| Performance Share Unit Plan | |
| 13,000,000 | | |
| 13,000,000 | |
| Stock award plans | |
| 3,884,295 | | |
| 5,317,547 | |
| APT additional earnout shares | |
| 3,193,857 | | |
| 4,613,380 | |
| Employee Stock Purchase Plan | |
| 243,604 | | |
| 304,682 | |
| Reserved shares of common stock | |
| 71,723,450 | | |
| 75,738,349 | |
|