v3.26.1
Stock Based Compensation (Tables)
12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-based Compensation Expense

Stock-based compensation expense included in the consolidated statement of operations and comprehensive loss was as follows:

 

 

Year Ended December 31,

 

 

2025

 

 

2024

 

Cost of revenue

 

$

34

 

 

$

30

 

Selling, general, and administrative

 

 

2,817

 

 

 

2,882

 

Research and development

 

 

295

 

 

 

144

 

Total stock-based compensation expense

 

$

3,146

 

 

$

3,056

 

Summary of Option Activity Under the Plan

The following tables summarizes the option activity under the 2010 Plan, 2020 Plan, 2023 Plan, and the Amended 2023 Plan during the year ended December 31, 2025:

 

 

Number of
Options

 

 

Weighted
Average Exercise
Price

 

 

Weighted
Average
Remaining
Contractual
Term

 

 

Aggregate
Intrinsic
Value

 

 

 

 

 

(per option)

 

 

(in years)

 

 

(in thousands)

 

Outstanding—January 1, 2025

 

 

265,772

 

 

$

58.19

 

 

 

7.4

 

 

$

 

Granted

 

 

46,504

 

 

 

1.50

 

 

 

 

 

 

 

Cancellations and forfeitures

 

 

(55,823

)

 

 

42.82

 

 

 

 

 

 

 

Exercised

 

 

 

 

 

-

 

 

 

 

 

 

 

Outstanding— December 31, 2025

 

 

256,453

 

 

 

28.96

 

 

 

7.2

 

 

 

 

Exercisable at December 31, 2025

 

 

178,059

 

 

$

40.97

 

 

 

6.7

 

 

$

 

Schedule of Assumptions Used in Black-Scholes Option Pricing Model

The assumptions used in the Black-Scholes option-pricing model are as follows:

 

 

Year Ended December 31,

 

 

Year Ended December 31,

 

 

2025

 

 

2024

 

Expected volatility

 

 

108.6

%

 

 

71.2

%

Risk-free interest rate

 

 

3.7

%

 

 

4.4

%

Expected dividend yield

 

 

%

 

 

%

Expected term (in years)

 

 

5.0

 

 

6.1

 

Summary of Restricted Stock Unit Activity Under the Plan

The following table summarizes the restricted stock unit activity under the 2020 Plan and 2023 Plan during the year ended December 31, 2025:

 

 

Number of RSUs

 

 

Weighted
Average Grant
Date Fair Value

 

 

 

 

 

(per share)

 

Outstanding—January 1, 2025

 

 

104,500

 

 

$

30.99

 

Granted

 

 

486,590

 

 

 

2.26

 

Cancellations and forfeitures

 

 

(159,390

)

 

 

5.24

 

Vested

 

 

(48,682

)

 

 

36.47

 

Outstanding—December 31, 2025

 

 

383,018

 

 

$

4.50