Stock-Based Compensation (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Stock-Based Compensation [Abstract] |
|
| Schedule of Stock Option |
The summary of the Company’s stock option
activity for the years ended December 31, 2025 and 2024 are presented as follows:
| Stock Options | | Number of Options | | | Weighted Average Exercise Price | | | Weighted Average Remaining Contractual Term (years) | | | Aggregate Intrinsic Value (in thousands) | | | Outstanding, December 31, 2024 | | | 9,434,380 | | | $ | 0.11 | | | | | | | | | | | Granted | | | 1,363,974 | | | | 1.30 | | | | | | | | | | | Exercised | | | (4,404,818 | ) | | | 0.10 | | | | | | | $ | 1 | | | Forfeited | | | (36,075 | ) | | | 3.00 | | | | | | | | | | | Expired | | | (114,201 | ) | | | 0.20 | | | | | | | | | | | Outstanding, December 31, 2025 | | | 6,243,260 | | | $ | 0.37 | | | | 5.82 | | | $ | 16,392 | | | Exercisable, December 31, 2025 | | | 296,325 | | | $ | 2.46 | | | | 6.15 | | | $ | 16,392 | |
| Stock Options | | Number of Options | | | Weighted Average Exercise Price | | | Weighted Average Remaining Contractual Term (years) | | | Aggregate Intrinsic Value | | | Outstanding, December 31, 2023 | | | 8,544,312 | | | $ | 0.10 | | | | | | | | | | | Granted | | | 1,136,840 | | | | 0.18 | | | | | | | | | | | Exercised | | | (4,857 | ) | | | 0.08 | | | | | | | $ | 1 | | | Forfeited | | | (185,641 | ) | | | 0.18 | | | | | | | | | | | Expired | | | (56,274 | ) | | | 0.11 | | | | | | | | | | | Outstanding, December 31, 2024 | | | 9,434,380 | | | $ | 0.11 | | | | 5.82 | | | $ | 824 | | | Exercisable, December 31, 2024 | | | 7,656,233 | | | $ | 0.10 | | | | 5.09 | | | $ | 792 | |
|
| Schedule of Unvested Options |
The summary of the Company’s unvested
options as of December 31, 2025 and 2024, and changes during the period then ended are presented as follows:
| | |
Options | | |
Weighted
Average Grant-Date
Fair
Value | |
| Non-vested options, January 1, 2023 | |
| 1,683,867 | | |
$ | 0.15 | |
| Granted | |
| 1,136,840 | | |
| 0.07 | |
| Forfeited | |
| (185,641 | ) | |
| 0.08 | |
| Vested | |
| (856,919 | ) | |
| 0.13 | |
| Non-vested options, December 31, 2024 | |
| 1,778,147 | | |
$ | 0.11 | |
| Granted | |
| 1,351,474 | | |
| 1.29 | |
| Forfeited | |
| (36,075 | ) | |
| 0.97 | |
| Vested | |
| (2,587,665 | ) | |
| — | |
| Non-vested options, December 31, 2025 | |
| 505,881 | | |
$ | 3.00 | |
|
| Schedule of Fair Value of the Options Granted |
The fair value of the options granted during 2025 and
2024 and the related assumptions used in the Black-Sholes option model used to value the options granted were as follows: | | | 2025 | | | 2024 | | | Risk-free interest rate | | | 3.7% to 4.3% | | | | 3.7% to 4.3% | | | Expected volatility | | | 32.3% to 32.9% | | | | 32.3% to 32.9% | | | Dividend yield | | | N/A | | | | N/A | | | Expected option life (years) | | | 5.1 to 6.1 | | | | 5.1 to 6.1 | | | Weighted-average fair value per share | | $ | 1.30 | | | $ | 1.83 | |
|
| Schedule of the Company’s RSU Activity |
The summary of the Company’s RSU activity
for the years ended December 31, 2025 and 2024 are presented as follows:
| |
|
Number
of RSUs |
|
|
Weighted
Average Grant Date Fair Value per RSU |
|
| Unvested RSUs, December 31, 2024 |
|
|
0 |
|
|
|
0 |
|
| Granted |
|
|
404,443 |
|
|
$ |
3.00 |
|
| Vested/Issued |
|
|
(6,363 |
) |
|
|
0 |
|
| Forfeited, cancelled, or expired |
|
|
(31,823 |
) |
|
$ |
3.00 |
|
| Unvested RSUs, December 31, 2025 |
|
|
366,257 |
|
|
$ |
3.00 |
|
|