v3.26.1
PREFERRED STOCK AND WARRANTS (Tables)
3 Months Ended
Mar. 31, 2026
PREFERRED STOCK AND WARRANTS  
Schedule of key assumptions used to determine the fair value of warrants

March 31, 

December 31, 

2026

2025

Stock price

$

2.12

$

2.88

Strike price

$

3.77

$

3.77

Risk-free rate

 

3.68

%

 

3.48

%

Volatility

 

57.5

%

 

50.7

%

Dividend yield

 

0.0

%

 

0.0

%

Time to expiration (years)

 

1.0

 

1.2

Fair value of warrant per share

$

0.15

$

0.41

Schedule of fair value of preferred stock and warrants

The changes in the Company’s warrant liabilities for the three months ended March 31, 2026 and 2025 were as follows (in thousands):

Three months ended March 31, 

2026

2025

Balance at beginning of year

$

1,919

$

8,064

Exercise of warrants

(150)

Fair value change

 

(1,237)

 

(1,735)

Balance at end of period

$

682

$

6,179