v3.26.1
Common Stock (Tables)
 3 Months Ended
Mar. 31, 2026
Equity [Abstract]  
Schedule of Common Stock Reserved
The amount of such shares of the Company’s Class A common stock reserved for these purposes at March 31, 2026 is as follows: 
Common stock warrants121,566
Outstanding shares of Class B common stock4,552,650
Options to purchase common stock9,547,190
Restricted stock units outstanding152,557
Shares available for future issuance under the Employee Stock Purchase Plan548,880
Shares available for future grants3,066,435
Total common stock reserved17,989,278
Schedule of Stock Options Valuation Assumptions
The weighted average assumptions used to calculate the fair value of option grants issued under the 2025 Plan and 2018 Plan during the three months ended March 31, 2026 and 2025 were as follows:

Three Months Ended
March 31,
20262025
Dividend yield- %- %
Risk-free interest rate4.1 %4.4 %
Expected volatility75 %67 %
Expected term (in years)6.155.99
Schedule of Stock Option Activity
A summary of the Company’s stock option activity and related information is as follows:
Number of
Options
Outstanding		Weighted
Average
Exercise Price
Per Share		Aggregate
Intrinsic Value
(in thousands)
Balance as of December 31, 20259,552,013$12.96 $657,915 
Granted
228,786$78.39 
Exercised
(176,137)$7.12 
Forfeited or expired
(57,472)$22.02 
Balance as of March 31, 20269,547,190$14.61 $614,211 
Vested and exercisable as of March 31, 20265,139,286$7.04 $369,504 
Vested and expected to vest as of March 31, 20269,547,190$14.61 $614,211 
Schedule of Restricted Stock Unit Activity
A summary of the Company’s restricted stock unit activity and related information is as follows:
Shares
Weighted-
Average Grant
Date Fair Value
(per share)
Nonvested as of January 1, 202633,332$108.94 
Issued119,28976.24 
Vested-- 
Forfeited(64)76.00 
Nonvested as of March 31, 2026152,557$85.59 
Schedule of Stock-Based Compensation Expense
The table below shows stock-based compensation expense included in the statements of operations and comprehensive income (loss) for the three months ended March 31, 2026 and 2025 (in thousands):
Three Months Ended
March 31,
20262025
Cost of revenue$634 $352 
Research and development1,356 748 
Selling, general and administrative4,520 1,274 
Total stock-based compensation$6,510 $2,374