v3.26.1
EQUITY PLANS AND SHARE-BASED COMPENSATION (Tables)
 3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity
The following table summarizes stock option activity for time-based awards:
(shares in thousands)
Number
of shares		Weighted
average
exercise price
Outstanding at December 31, 202515,509$6.40 
Granted 5,8541.69 
Exercised (47)1.25 
Canceled(682)2.79 
Expired(304)8.89 
Outstanding at March 31, 202620,330$5.14 
Schedule of Time-Based RSUs and PSUs Activity The following table summarizes the time-based RSUs and PSUs activity:
Restricted Stock Units (RSU)Performance Stock Units (PSU)Weighted average grant date
fair value
(shares in thousands)
RSUPSU
Outstanding at December 31, 202517,551 392 $3.50 $9.43 
Granted9,642 — 1.69 — 
Vested(7,218)— 3.56 — 
Forfeited(749)(392)2.56 9.43 
Outstanding at March 31, 202619,226 — $2.60 $— 
Schedule of Stock-Based Compensation Expense
The following table summarizes share-based compensation expense:
Three Months Ended March 31,
(In thousands)
20262025
Cost of revenue$648 $1,165 
Research and development (772)2,607 
Sales, general and administrative4,583 5,429 
Total share-based compensation expense$4,459 $9,201 
Schedule of Fair Value of Employee Stock Options
The fair value of employee stock options was estimated using the following assumptions:
Three Months Ended March 31,
20262025
Expected term in years4.94.9
Expected volatility
 96% — 97%
95% — 96%
Risk-free interest rate
 3.48% — 3.73%
3.92% — 4.29%
Dividend yield ——
Weighted average grant date fair value per share$1.24$0.91
Schedule of Fair Value of Employee Stock Purchase Plan
The fair value of shares to be issued under the ESPP was estimated using the following assumptions:
Three Months Ended March 31,
20262025
Expected term in years
0.5 — 2.0
0.5 — 2.0
Expected volatility
97%
113%
Risk-free interest rate
3.47% — 3.68%
3.96% — 4.31%
Dividend yield ——
Weighted average grant date fair value per share$0.90$0.93